Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.5.0.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash $ 485,241 $ 8,833,230
Accounts receivable, net 7,849,283 8,149,484
Prepaid expenses and other current assets 1,506,204 1,193,077
Income tax refunds receivable 2,516,042 2,415,013
Total current assets 12,356,770 20,590,804
Property and equipment, net 5,760,694 7,148,295
Deposits 235,184 232,774
Total assets 18,352,648 27,971,873
Current liabilities:    
Accounts payable (includes related parties) 3,775,440 4,360,035
Accrued expenses 3,116,378 5,285,455
Current portion of notes payable 7,546,335 269,031
Current portion of notes payable, related party 5,112,990 5,133,888
Current portion of capital lease obligations 658,633 1,323,708
Total current liabilities 20,209,776 16,372,117
Other liabilities:    
Notes payable, net of current portion 910,422 2,903,898
Capital lease obligations, net of current portion 2,394,172 2,394,171
Other non-current liabilities 2,031,821 0
Derivative liabilities 3,743,777 7,495,486
Total liabilities 29,289,968 29,165,672
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.01 par value, 500,000,000 shares authorized, 14,886,331 shares issued and outstanding at June 30, 2016, 50,000,000 shares authorized, 14,651,837 shares issued and outstanding at December 31, 2015 148,863 143,951
Additional paid-in-capital 27,046,509 26,688,837
Accumulated deficit (38,133,279) (28,027,177)
Total stockholders' deficit (10,937,320) (1,193,799)
Total liabilities and stockholders' deficit 18,352,648 27,971,873
Series B Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock, 5,000,000 shares authorized: 50 50
Series C Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock, 5,000,000 shares authorized: 87 90
Series E Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock, 5,000,000 shares authorized: $ 450 $ 450