|
BALANCE SHEETS (USD $)
|
Sep. 30, 2012
|
Dec. 31, 2011
|
| CURRENT ASSETS: |
|
|
| Cash |
$ 314,811 |
$ 273,132 |
| Accounts receivable - trade |
185,257 |
288,201 |
| Prepaid expenses and other |
537,377 |
240,388 |
| Total current assets |
1,037,445 |
801,721 |
| PROPERTY AND EQUIPMENT, at cost: |
21,650 |
285,976 |
| Less - accumulated depreciation |
(19,350) |
(188,016) |
| Net property and equipment |
2,300 |
97,960 |
| OTHER ASSETS: |
|
|
| Investment in DecisionPoint Systems, Inc. |
642,928 |
|
| Note receivable |
|
135,577 |
| Software development costs, net of accumulated amortization of $36,316 as of December 31, 2011 |
|
1,280,903 |
| Other assets |
60,362 |
83,329 |
| Total other assets |
703,290 |
1,499,809 |
| TOTAL ASSETS |
1,743,035 |
2,399,490 |
| CURRENT LIABILITIES: |
|
|
| Current maturities of long-term debt |
90,000 |
|
| Revolving Line of Credit |
90,000 |
100,000 |
| Note Payable - Shareholders |
|
169,306 |
| Accounts payable - trade and accrued liabilities |
167,047 |
631,419 |
| Unearned income |
500,000 |
31,400 |
| Total current liabilities |
847,047 |
932,125 |
| LONG-TERM DEBT, less current maturities |
|
|
| Note Payable - Shareholders |
533,681 |
|
| Oklahoma Technology Commercialization Center |
147,500 |
237,500 |
| Convertible debentures |
150,000 |
2,621,161 |
| Total long-term debt, less current maturities |
831,181 |
2,858,661 |
| COMMITMENTS AND CONTINGENCIES |
|
|
| STOCKHOLDERS' EQUITY: |
|
|
| Common stock, $.01 par value; authorized 500,000,000 shares; issued and outstanding 178,467,855 and 122,386,894 shares, at September 30, 2012 and December 31, 2011, respectively |
1,784,678 |
1,223,869 |
| Additional paid-in capital |
13,226,705 |
10,059,029 |
| Accumulated other comprehensive income |
(107,072) |
|
| Accumulated deficit |
(14,839,504) |
(12,674,194) |
| Total stockholders' (deficit) equity |
64,807 |
(1,391,296) |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
$ 1,743,035 |
$ 2,399,490 |