v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current Assets    
Cash $ 109,382 $ 15,388
Accounts Receivable 52,962 354,159
Costs & Estimated Earnings in Excess of Billings 235,580 75,624
Inventory 22,220 110,000
Prepaid Expenses & Other Current Assets 213,622 138,442
Total Current Assets 633,766 693,613
Property, Plant and Equipment, net 8,165 10,193
Deposits 2,090 2,090
TOTAL ASSETS 644,021 705,896
Current Liabilities    
Accounts Payable & Accrued Expenses 2,383,566 1,872,981
Billings in Excess of Costs & Estimated Earnings 1,028,391 374,916
Provision for Estimated Losses on Uncompleted Contracts 35,204 66,079
Current Maturities of Promissory Notes 1,026,783 1,052,410
Derivative Liability 147,700 204,300
Convertible Notes Payable, net 691,168 692,668
Total Current Liabilities 5,312,812 4,263,354
Commitment and Contingencies
Stockholders' Equity (Deficit)    
Preferred Stock, $ 0.00001 par value; 20,000,000 shares authorized; none issued and outstanding
Common Stock, $0.00001 par value; 250,000,000 shares authorized, 17,214,010 and 17,074,470 issued and outstanding as of June 30, 2017 and December 31, 2016, respectively 171 171
Paid in Capital 10,465,578 10,404,451
Common Stock Subscription Receivable (4,500) (4,500)
Accumulated Deficit (15,130,040) (13,957,580)
Total Stockholders' Equity (Deficit) (4,668,791) (3,557,458)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) $ 644,021 $ 705,896

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v3.7.0.1
Condensed Consolidated Statement of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Ordinary Income/Expense        
Contract Revenue $ 1,143,823 $ 467,483 $ 2,289,567 $ 1,278,558
Contract Cost of Sales 925,398 525,220 1,892,451 1,289,080
Gross Profit (Loss) 218,425 (57,737) 397,116 (10,522)
Selling, General and Administrative 759,810 816,399 1,510,152 1,771,603
Research & Development 28,674 505 88,447
Depreciation 1,014 1,014 2,028 2,028
Total Expense 760,824 846,087 1,512,685 1,862,078
Loss from Operations (542,399) (903,824) (1,115,569) (1,872,600)
Other Income (Expense)        
Interest, net (71,291) (113,364) (142,498) (272,603)
Gain (loss) from Change in Derivative (25,300) 56,600
Miscellaneous Income 1,166 29,007 241
Total Other Income (Expense) (95,425) (113,364) (56,891) (272,362)
Net Loss $ (637,824) $ (1,017,188) $ (1,172,460) $ (2,144,962)
Net loss per common share, basic and diluted $ (0.04) $ (0.06) $ (0.07) $ (0.14)
Weighted average common shares, basic and diluted 17,211,310 16,428,223 17,164,635 15,622,456

Source

v3.7.0.1
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (1,172,460) $ (2,144,962)
Adjustments to reconcile    
Depreciation 2,028 2,028
Amortization of debt issuance cost 13,164 23,037
Amortization of debt discount 148,023
Accretion of Original Issue Discount 4,913
Share based compensation 57,878 761,621
Gain on derivative (56,600)
Changes in Operating Assets and Liabilities:    
Cash overdraft 3,518
Accounts receivable 301,197 (36,034)
Inventory 87,780
Prepaid expense 10,452 (73,079)
Accounts payable and accrued expenses 512,334 (132,892)
Costs and estimated earnings in excess of billings (159,956) 39,220
Billings in excess of costs 653,475 82,322
Provision for estimated losses on uncompleted contracts (30,875) (70,731)
Net cash provided by (used in) operating activities 218,417 (1,393,016)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds of convertible notes 150,000
Repayments of convertible notes (150,000)
Repayments of promissory notes (124,423) (202,924)
Proceeds from factoring 56,256
Proceeds from common stock subscriptions 1,478,284
Net cash provided by (used in) financing activities (124,423) 1,331,616
Increase (decrease) in cash 93,994 (61,400)
Cash, beginning of period 15,388 61,400
Cash, end of period 109,382 0
Cash paid during the period for:    
Interest 86,658 53,345
Taxes
Non-cash Investing and financing activities:    
Notes issued for insurance premiums 85,632 94,706
Debt discount - beneficial conversion feature 67,637
Debt discount paid in form of common shares 80,137
Conversion of debt and interest to common stock
Stock issuance costs paid in the form of warrants 3,248 69,147
Increase in principal amount of convertible notes in connection with debt modification $ 40,500

Source