Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Current Assets    
Cash $ 574,824 $ 673,995
Accounts receivable - net 592,442 180,499
Lifeline revenue - due from USAC 212,621
Inventory 175,359 178,309
Prepaids 6,067 5,605
Total Current Assets 1,348,692 1,251,029
Property and equipment - net 229,411 236,810
Other Assets    
Note receivable 176,851
Intangibles - net 3,760,238 4,125,742
Goodwill 866,782 866,782
Investment in Centercom - related party 389,984 414,612
Operating lease - right of use asset - net 552,222 368,638
Other 61,458 61,458
Total Other Assets 5,807,535 5,837,232
Total Assets 7,385,638 7,325,071
Current Liabilities    
Accounts payable and accrued expenses 5,800,859 6,827,487
Accounts payable and accrued expenses - related party 448,559 1,753,837
Deferred revenue 565,900 443,300
Operating lease liability 97,880 210,556
Line of credit 912,870
Loans payable - related parties 4,419,000 2,389,000
Notes payable 250,000
Convertible notes payable - net 837,741 1,516,170
Derivative liabilities 1,459,167 1,357,528
Total Current Liabilities 13,629,106 15,660,748
Long Term Liabilities    
Loans payable - related parties 1,130,440 1,100,440
Notes payable - SBA government 1,502,849 1,134,682
Operating lease liability 454,342 155,167
Total Long Term Liabilities 3,087,631 2,390,289
Total Liabilities 16,716,737 18,051,037
Stockholders’ Deficit    
Common stock, $0.001 par value, 500,000,000 shares authorized 161,504,920 and 127,131,210 shares issued and outstanding, respectively 161,505 127,131
Additional paid-in capital 17,115,280 10,725,380
Accumulated deficit (26,621,606) (21,592,199)
Total Stockholders’ Deficit (9,331,099) (10,725,966)
Total Liabilities and Stockholders’ Deficit 7,385,638 7,325,071
Series A Convertible Preferred Stock [Member]    
Stockholders’ Deficit    
Preferred stock, value 13,000 13,000
Series C Convertible Preferred Stock [Member]    
Stockholders’ Deficit    
Preferred stock, value $ 722 $ 722