Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.21.2
Consolidated Balance Sheets - USD ($)
Sep. 30, 2021
Dec. 31, 2020
Current Assets    
Cash $ 635,527 $ 673,995
Accounts receivable - net 1,667,630 180,499
Lifeline revenue - due from USAC 212,621
Inventory 502,109 178,309
Prepaids 35,001 5,605
Total Current Assets 2,840,267 1,251,029
Property and equipment - net 217,070 236,810
Other Assets    
Note receivable 176,851
Intangibles - net 3,596,861 4,125,742
Goodwill 866,782 866,782
Investment in Centercom - related party 411,056 414,612
Operating lease - right of use asset - net 522,072 368,638
Other 61,458
Total Other Assets 5,573,622 5,837,232
Total Assets 8,630,959 7,325,071
Current Liabilities    
Accounts payable and accrued expenses 4,159,473 6,827,487
Accounts payable and accrued expenses - related party 2,293,926 1,753,837
Deferred revenue 235,500 443,300
Operating lease liability 68,303 210,556
Line of credit 912,870
Loans payable - related parties 1,027,500 2,389,000
Notes payable - net 593,205 250,000
Convertible notes payable - net 1,298,083 1,516,170
Derivative liabilities 1,567,508 1,357,528
Total Current Liabilities 11,243,498 15,660,748
Long Term Liabilities    
Loans payable - related parties 5,986,940 1,100,440
Notes payable - SBA government 1,499,424 1,134,682
Operating lease liability 447,002 155,167
Total Long Term Liabilities 7,933,366 2,390,289
Total Liabilities 19,176,864 18,051,037
Commitments and Contingencies (Note 8)
Stockholders’ Deficit    
Common stock, $0.001 par value, 500,000,000 shares authorized 3,288,428 and 2,542,624 shares issued and outstanding, respectively 3,289 2,543
Additional paid-in capital 17,804,181 10,849,968
Accumulated deficit (28,367,097) (21,592,199)
Total Stockholders’ Deficit (10,545,905) (10,725,966)
Total Liabilities and Stockholders’ Deficit 8,630,959 7,325,071
Series A Convertible Preferred Stock [Member]    
Stockholders’ Deficit    
Preferred stock 13,000 13,000
Series C Convertible Preferred Stock [Member]    
Stockholders’ Deficit    
Preferred stock $ 722 $ 722