Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current assets    
Cash $ 714,063 $ 228,956
Accounts receivable, net of allowance for doubtful accounts of $125,000 and $63,727, respectively. 6,078,025 6,711,595
Prepaid expenses and other current assets 251,219 271,466
Total current assets 7,043,307 7,212,017
Property and equipment, net 1,467,110 2,123,672
Other assets    
Intangible assets, net of accumulated amortization 11,003,803 9,441,681
Goodwill 9,853,342 9,853,342
Right of use assets - operating lease 864,058  
Right of use assets - finance lease 132,476  
Other assets 35,170 35,170
Total other assets 21,888,849 19,330,193
Total assets 30,399,266 28,665,882
Current liabilities    
Accounts payable 6,535,436 9,499,541
Accrued expenses and other current liabilities 4,255,922 2,489,834
Financed receivables 2,427,950 1,859,853
Convertible promissory note 1,238,333 0
Derivative liability 460,800 0
Notes payable 250,000 250,000
Total current liabilities 15,168,441 14,099,228
Long-term liabilities    
Deferred tax liability 2,339,832 2,339,832
Convertible promissory note 0 1,000,000
Lease liability - operating lease 440,561  
Other long-term liabilities 82,914 193,007
Total long-term liabilities 2,863,307 3,532,839
Preferred stock:    
Preferred stock, $.001 par value: Authorized shares 500,000, none issued and outstanding 0 0
Common stock:    
Common stock, $.001 par value: Authorized shares 60,000,000; issued shares 49,335,746 and 32,757,817, respectively; outstanding shares 48,959,219 and 32,381,290, respectively 49,336 32,759
Additional paid-in capital 143,814,121 138,867,509
Accumulated deficit (130,099,380) (126,469,894)
Treasury stock, at cost - 376,527 shares (1,396,559) (1,396,559)
Total stockholders' equity 12,367,518 11,033,815
Total liabilities and stockholders' equity $ 30,399,266 $ 28,665,882