|
Consolidated Balance Sheets (unaudited) (USD $)
|
Mar. 31, 2012
|
Dec. 31, 2011
|
| CURRENT ASSETS |
|
|
|
| Cash |
$ 56,927 |
$ 527,108 |
|
| Accounts receivable, net |
1,159,780 |
945,815 |
|
| Inventory, net |
237,463 |
473,451 |
|
| Prepaid expenses |
519,358 |
564,427 |
|
| Total Current Assets |
1,973,528 |
2,510,801 |
|
| PROPERTY AND EQUIPMENT, net |
818,502 |
850,751 |
|
| OTHER ASSETS |
|
|
|
| Deposits |
17,930 |
17,930 |
|
| Contracts and franchise, net |
10,248,350 |
10,846,590 |
|
| Total Other Assets |
10,266,280 |
10,864,520 |
|
| TOTAL ASSETS |
13,058,310 |
14,226,072 |
|
| CURRENT LIABILITIES |
|
|
|
| Accounts payable and accrued expenses |
1,826,753 |
1,840,909 |
|
| Current portion of notes payable |
533,701 |
533,701 |
|
| Related party payables |
373,310 |
384,369 |
|
| Billings in excess of revenues |
531,143 |
645,424 |
|
| Taxes payable |
360,705 |
230,295 |
|
| Payroll Payable |
90,547 |
276,018 |
|
| Preferred dividends payable |
125,358 |
54,155 |
|
| Warrant derivative liability |
2,211,318 |
2,037,325 |
|
| Total Current Liabilities |
6,052,835 |
6,002,196 |
|
| LONG TERM LIABILITIES |
|
|
|
| Long term portion of notes payable |
950,852 |
979,338 |
|
| Total Liabilities |
7,003,687 |
6,981,534 |
|
| Commitments and contingencies |
|
|
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| STOCKHOLDERS' EQUITY |
|
|
|
| Preferred stock; 25,000,000 shares authorized at $0.001 par value, 284,600 and 200,000 shares issued and outstanding, respectively |
285 |
200 |
|
| Common stock; 100,000,000 shares authorized at $0.001 par value, 17,859,554 and 18,703,182 shares issued and outstanding, respectively |
17,860 |
18,703 |
|
| Additional paid-in capital |
32,260,575 |
33,771,622 |
|
| Stock subscription receivable |
|
(2,632,192) |
|
| Accumulated deficit |
(26,224,097) |
(23,913,795) |
|
| Total Stockholders' Equity |
6,054,623 |
7,244,538 |
|
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
$ 13,058,310 |
$ 14,226,072 |
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