Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.5.0.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash $ 514,344 $ 8,833,230
Accounts receivable, net 2,655,132 8,149,484
Prepaid expenses and other current assets 771,527 1,193,077
Income tax refunds receivable 723,410 3,813,066
Total current assets 4,664,413 21,988,857
Property and equipment, net 5,053,790 7,148,295
Deposits 479,734 232,774
Total assets 10,197,937 29,369,926
Current liabilities:    
Accounts payable (includes related parties) 2,627,238 4,360,035
Accrued expenses 3,627,188 5,285,455
Income taxes payable 942,433 1,398,053
Current portion of notes payable 8,528,193 269,031
Current portion of notes payable, related party 1,368,500 5,133,888
Current portion of capital lease obligations 1,339,498 1,323,708
Total current liabilities 18,433,050 17,770,170
Other liabilities:    
Notes payable, net of current portion 0 2,903,898
Capital lease obligations, net of current portion 1,398,481 2,394,171
Derivative liabilities 404,492 7,495,486
Total liabilities 20,236,023 30,563,725
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.01 par value, 500,000,000 shares authorized, 55,160,931 shares issued and outstanding at September 30, 2016, 50,000,000 shares authorized, 14,651,837 shares issued and outstanding at December 31, 2015 551,609 143,951
Additional paid-in-capital 39,552,927 26,688,837
Accumulated deficit (50,142,718) (28,027,177)
Total stockholders' deficit (10,038,086) (1,193,799)
Total liabilities and stockholders' deficit 10,197,937 29,369,926
Series B Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock, 5,000,000 shares authorized: 0 50
Series C Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock, 5,000,000 shares authorized: 0 90
Series E Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock, 5,000,000 shares authorized: 0 450
Series G Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock, 5,000,000 shares authorized: $ 96 $ 0