Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 1,409,192 $ 1,274,160
Accounts receivable, less allowance for doubtful accounts of $17,000 and none, respectively 145,661 5,525
Lifeline revenue due from USAC 1,046,921 1,170,569
Customer phone supply 1,081,807 520,165
LTC cryptocurrency coins at fair value 42,885
Prepaid expenses 56,962
Due from related party 19,000
Total current assets 3,783,428 2,989,419
Property and Equipment, less accumulated depreciation of $100,433 and $127,015, respectively, 534,020 25,962
Intangible assets less accumulated amortization of $310,212 74,432
Goodwill 866,782
Other long-term assets 61,457 61,457
Total assets 5,320,119 3,076,838
Current liabilities:    
Accounts payable and accrued expenses - others 2,896,900 1,696,348
Accounts payable and accrued expenses - related party 151,061
Payable - Telecom Operations Center - current 309,439 334,939
Credit card liability 361,344
Deferred revenue 130,000
Loss contingency 85,614
Advance from related party 389,502
Note payable - related party 3,701,000 344,241
Notes payable and current portion of long-term debt, net 669,063 435,000
Total current liabilities 8,693,923 2,810,528
Long-term debt less current portion 52,188
Trade payables - long term 633,909 883,550
Total liabilities 9,380,020 3,694,078
Commitments and contingencies
Stockholders' deficit:    
Common stock: $0.001 par value; 500,000,000 shares authorized; 87,513,372 shares and 152,555,416 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively 87,514 152,555
Additional paid in capital (2,878,701) (155,555)
Accumulated deficit (1,282,309) (617,240)
Total stockholders' deficit (4,059,901) (617,240)
Total liabilities and stockholders' deficit 5,320,119 3,076,838
Series A Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock, value 13,000 3,000
Series C Convertible Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock, value $ 595