Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 1,602,474 $ 673,995
Accounts receivable, less allowance for doubtful accounts of $116,664 and $774,841, respectively 489,437 180,499
Lifeline revenue due from USAC 221,790 212,621
Inventory 233,809 178,309
Prepaid expenses 6,421 5,605
Total current assets 2,553,931 1,251,029
Property and Equipment, less accumulated depreciation of $121,315 and $105,484, respectively 223,594 236,810
Intangible assets less accumulated amortization of $1,829,906 and $1,627,779, respectively 3,923,615 4,125,742
Goodwill 866,782 866,782
Investment in Centercom 340,839 414,612
Operating lease right of use asset, net 819,632 368,638
Other long-term assets 61,458 61,458
Total assets 8,789,851 7,325,071
Current liabilities:    
Accounts payable and accrued expenses - others 4,462,922 5,589,547
Accounts payable and accrued expenses - related party 1,604,278 1,753,837
Credit card liability 382,191 383,073
Deferred revenue 725,200 443,300
Derivative liability 2,729,151 1,357,528
Operating lease liability 235,379 210,556
Line of credit 912,870 912,870
Debt - related party 3,624,000 2,369,000
Convertible promissory notes payable - net 144,932
Notes payable and current portion of long-term debt, net 153,383 2,283,950
Total current liabilities 14,974,306 15,303,661
Long-term debt less current portion - related party 1,120,440 1,120,440
Operating lease liability - net 578,476 155,167
Trade payables - long term 854,868 854,868
Notes payable and long-term portion of debt - net 1,652,849 616,901
Total liabilities 19,180,939 18,051,037
Commitments and contingencies
Stockholders' deficit:    
Common stock: $0.001 par value; 500,000,000 shares authorized; 127,131,210 shares and 127,131,210 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively 152,849 127,131
Additional paid in capital 15,849,971 10,725,380
Accumulated deficit (26,407,630) (21,592,199)
Total stockholders' deficit (10,391,088) (10,725,966)
Total liabilities and stockholders' deficit 8,789,851 7,325,071
Series A Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock, value 13,000 13,000
Total stockholders' deficit 13,000 13,000
Series C Convertible Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock, value 722 722
Total stockholders' deficit $ 722 $ 722