Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 66,181 $ 63,709
Accounts receivable, less allowance for doubtful accounts of $17,000 and $17,000, respectively 113,972 126,428
Prepaid expenses 276,078 568,700
Total current assets 456,231 758,837
Property and Equipment, less accumulated depreciation of $6,125 and $4,675, respectively, 12,982 14,432
Intangible assets less accumulated amortization of $236,121 and $167,449, respectively 148,523 217,195
Goodwill 866,782 866,782
Deposits on investments 1,700,000 500,000
Total assets 3,184,518 2,357,246
Current liabilities:    
Accounts payable and accrued expenses 671,735 775,624
Credit card liability 336,726 336,726
Deferred revenue 18,900 165,000
Derivative liability 768,607 584,168
Advance from related party 389,502 356,502
Current portion of long-term debt - related party 80,625 53,750
Notes payable and current portion of long-term debt net of discount of $85,741 and $8,774, respectively 1,462,099 1,788,124
Total current liabilities 3,728,194 4,059,894
Long-term debt less current installments - related party 26,875 53,750
Long-term debt net of discount of none and $87,379, respectively 25,313 58,651
Total liabilities 3,780,382 4,172,295
Commitments and contingencies
Stockholders' deficit:    
Preferred stock: $0.001 par value; 100,000,000 shares authorized; 10,000,000 shares issued and outstanding 10,000 10,000
Common stock: $0.001 par value; 100,000,000 shares authorized; 81,782,035 shares and 57,343,901 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively 81,782 57,344
Additional paid in capital 7,327,861 4,145,589
Accumulated deficit (8,015,507) (6,027,982)
Total stockholders' deficit (595,864) (1,815,049)
Total liabilities and stockholders' deficit $ 3,184,518 $ 2,357,246