Financials

v3.19.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 10,007 $ 6,870
Accounts receivable, net 4,105,252 3,811,749
Inventory 677,859 453,402
Prepaid expenses and other current assets 19,746 78,820
Income tax refunds receivable 631,077 631,077
Current assets of AMSG and HTS classified as held for sale 158,091 140,352
Total current assets 5,602,032 5,122,270
Property and equipment, net 8,847,033 8,526,904
Right-of-use operating lease assets 430,699
Intangibles, net 509,443 259,443
Deposits 209,080 278,864
Non-current assets of AMSG and HTS classified as held for sale 14,448 11,819
Total assets 15,612,735 14,199,300
Current liabilities:    
Accounts payable (includes related parties amount of $0.4 million and $0.4 million, respectively) 11,021,431 8,155,955
Checks issued in excess of bank account balance 251,271 109,695
Accrued expenses (includes related parties amount of $0.4 million and $0.3 million, respectively) 12,593,914 10,711,281
Income taxes payable 1,370,651 1,400,651
Current portion of notes payable 7,077,992 7,083,505
Current portion of notes payable, related party 1,513,788 800,000
Current portion right-of-use operating lease obligations 191,000
Current portion of capital lease obligations 659,729 730,665
Current portion of debentures 17,329,777 12,776,316
Derivitive liabilities 455,336 350,260
Current liabilities of AMSG and HTS classified as held for sale 2,504,156 2,297,846
Total current liabilities 54,969,045 44,416,174
Other liabilities:    
Right-of-use operating lease obligations, net of current portion 239,699
Capital lease obligations, net of current portion 28,738 31,543
Total liabilities 55,237,482 44,447,717
Commitments and contingencies
Stockholders' deficit:    
Common stock, $0.0001 par value, 10,000,000,000 shares authorized, 3,503,882,657 and 128,567,273 shares issued and outstanding 350,388 12,857
Additional paid-in-capital 504,078,893 375,845,883
Accumulated deficit (552,349,597) (415,046,606)
Total stockholders' deficit (47,900,314) (39,167,864)
Total liabilities and stockholders' deficit 15,612,735 14,199,300
Redeemable Preferred Stock I-1 [Member]    
Other liabilities:    
Redeemable Preferred Stock 5,835,294 5,835,294
Redeemable Preferred Stock I-2 [Member]    
Other liabilities:    
Redeemable Preferred Stock 2,440,273 3,084,153
Series G Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock value 2 2
Series H Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock value
Series F Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock value 17,500 17,500
Series J Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock value $ 2,500 $ 2,500

Source

v3.19.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Income Statement [Abstract]    
Net revenues $ 5,190,650 $ 1,601,661
Operating expenses:    
Direct costs of revenue 4,164,400 2,089,366
General and administrative 5,276,136 2,890,804
Depreciation and amortization 223,586 333,515
Total operating expenses 9,664,122 5,313,685
Loss from continuing operations before other income (expense) and income taxes (4,473,472) (3,712,024)
Other income (expense):    
Other income (expense) (884,280) 11,969
Gain on bargain purchase 250,000
Change in fair value of derivative instruments (105,076) (139,779,232)
Interest expense (7,719,967) (3,307,014)
Total other income (expense), net (8,459,323) (143,074,277)
Net loss from continuing operations before income taxes (12,932,795) (146,786,301)
Provision for income taxes 76
Net loss from continuing operations (12,932,795) (146,786,377)
Net (loss) income from discontinued operations (508,609) 421,793
Net loss (13,441,404) (146,364,584)
Deemed dividend from trigger of down round provision feature (123,861,587)
Net loss to common shareholders $ (137,302,991) $ (146,364,584)
Net (loss) income per common share:    
Basic and diluted: continuing operations $ (0.10) $ (330.69)
Basic and diluted: discontinued operations 0.95
Total Basic and diluted $ (0.10) $ (329.74)
Weighted average number of common shares outstanding during the period:    
Basic and diluted 1,404,610,862 443,885

Source

v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss from continuing operations $ (12,932,795) $ (146,786,377)
Adjustments to reconcile net loss to net cash (used in) provided by operations:    
Depreciation and amortization 223,586 333,515
Stock-based compensation 8,650 665,307
Amortization of debt discount 3,458,021 4,522,329
Modification of warrants 4,056,424
Penalty for non-payment of debenture 595,440
Change in fair value of derivative instruments 105,076 139,779,232
Loss on sale of receivables to factor 305,400
Non-cash gain on assets (1,398)
Bargain purchase gain for Jellico Community Hospital and CarePlus Center (250,000)
(Loss) income from discontinued operations (508,609) 421,793
Changes in operating assets and liabilities:    
Accounts receivable (1,059,478) (130,449)
Inventory 92,970 (14,115)
Prepaid expenses and other current assets 59,074 (25,508)
Security deposits 69,784 (12,128)
Accounts payable and checks issued in excess of bank balance 3,007,052 416,445
Accrued expenses 1,723,743 (835,638)
Income tax assets and liabilities (30,000) 22,660
Net cash used in operating activities of continuing operations (1,077,060) (1,642,934)
Net cash provided by (used in) operating activities of discontinued operations 185,942 (698,259)
Net cash used in operating activities (891,118) (2,341,193)
Cash flows from investing activities:    
Purchase of Jellico Community Hospital and CarePlus Center (658,537)
Purchase of property and equipment (42,317) (301)
Net cash used in investing activities of continuing operations (700,854) (301)
Net cash provided by investing activities of discontinued operations 800,000
Net cash (used in) provided by investing activities (700,854) 799,699
Cash flows from financing activities:    
Proceeds from issuance of related party note payable and advances 1,373,788 1,050,000
Payments on related party note payable and advances (660,000) (1,110,000)
Proceeds from issuance of debentures 500,000 2,000,000
Payments on notes payable (5,513)
Proceeds from receivables sold to factor 570,000
Receivables paid to factor (109,425)
Payments on capital lease obligations (73,741) (363,410)
Net cash provided by financing activities of continuing operations 1,595,109 1,576,590
Net cash used in financing activities of discontinued operations
Net cash provided by financing activities 1,595,109 1,576,590
Net increase in cash 3,137 35,096
Cash at beginning of period 6,870
Cash at end of period $ 10,007 $ 35,096

Source