Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 243,768 $ 215,843
Accounts receivable, less allowance for doubtful accounts of $17,000 and $17,000, respectively 98,568 56,036
LTC cryptocurrency coins at fair value 60,492
Prepaid expenses 38,263 47,681
Total current assets 441,091 319,560
Property and Equipment, less accumulated depreciation of $17,124 and $8,663, respectively, 162,593 157,444
Intangible assets less accumulated amortization of $291,886 and  $282,723, respectively 92,758 101,921
Goodwill 866,782 866,782
Deposits on investments 1,700,000 1,700,000
Total assets 3,263,224 3,145,707
Current liabilities:    
Accounts payable and accrued expenses - others 445,183 482,262
Accounts payable and accrued expenses - related party 60,421 13,044
Credit card liability 336,726 336,726
Deferred revenue 171,500 130,000
Derivative liability 59,141 92,897
Advance from related party 390,948 389,502
Current portion of long-term debt - related party 241,000 304,000
Notes payable and current portion of long-term debt, net of discount of  $1,107 and $8,774, respectively 669,062 738,035
Total current liabilities 2,373,981 2,486,466
Long-term debt less current portion 52,188 52,188
Total liabilities 2,426,169 2,538,654
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; 500,000,000 and 100,000,000 shares authorized; 79,888,784 shares and 90,057,445 shares issued and 79,888,784 shares and 88,278,445 shares outstanding at March 31, 2018 and December 31, 2017, respectively 79,889 90,058
Additional paid in capital 9,020,442 9,584,473
Less treasury stock at cost (1,782,000 shares) (1,069,200)
Accumulated deficit (8,273,276) (8,008,278)
Total stockholders’ equity (deficit) 837,055 607,053
Total liabilities and stockholders’ equity (deficit) $ 3,263,224 $ 3,145,707