v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current Assets    
Cash $ 506 $ 15,388
Accounts Receivable 863,637 354,159
Costs & Estimated Earnings in Excess of Billings 558,983 75,624
Inventory 5,800 110,000
Prepaid Expenses & Other Current Assets 261,627 138,442
Total Current Assets 1,690,553 693,613
Property, Plant and Equipment, net 7,152 10,193
Deposits 2,090 2,090
TOTAL ASSETS 1,699,795 705,896
Current Liabilities    
Accounts Payable & Accrued Expenses 3,449,664 1,872,981
Billings in Excess of Costs & Estimated Earnings 1,145,115 374,916
Provision for Estimated Losses on Uncompleted Contracts 35,204 66,079
Current Maturities of Promissory Notes 1,002,783 1,052,410
Derivative Liability 197,000 204,300
Convertible Notes Payable, net 691,168 692,668
Total Current Liabilities 6,520,934 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, 17,325,089 and 17,074,470 issued and outstanding as of September 30, 2017 and December 31, 2016, respectively 173 171
Paid in Capital 10,528,870 10,404,451
Common Stock Subscription Receivable (4,500) (4,500)
Accumulated Deficit (15,345,683) (13,957,580)
Total Stockholders' Equity (Deficit) (4,821,140) (3,557,458)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) $ 1,699,795 $ 705,896

Source

v3.8.0.1
Condensed Consolidated Statement of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Ordinary Income/Expense        
Contract Revenue $ 2,466,253 $ 669,953 $ 4,755,820 $ 1,948,511
Contract Cost of Sales 2,059,826 571,035 3,952,277 1,860,115
Gross Profit (Loss) 406,427 98,918 803,543 88,396
Selling, General and Administrative 501,906 684,625 2,012,058 2,456,228
Research & Development 505 88,447
Depreciation 1,014 1,014 3,042 3,042
Total Expense 502,920 685,639 2,015,605 2,547,717
Loss from Operations (96,493) (586,721) (1,212,062) (2,459,321)
Other Income (Expense)        
Interest, net (69,850) (135,764) (212,348) (408,367)
Loss on extinguishment of debt (35,400) (35,400)
Gain (loss) from Change in Derivative (49,300) 7,300
Miscellaneous Income 20,567 29,000 20,808
Total Other Income (Expense) (119,150) (150,597) (176,041) (422,959)
Net Loss $ (215,643) $ (737,318) $ (1,388,103) $ (2,882,280)
Net loss per common share, basic and diluted $ (0.01) $ (0.04) $ (0.08) $ (0.18)
Weighted average common shares, basic and diluted 17,298,884 16,445,711 17,277,764 15,898,878

Source

v3.8.0.1
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (1,388,103) $ (2,882,280)
Adjustments to reconcile    
Depreciation 3,042 3,042
Amortization of debt discount 19,746 228,595
Share based compensation 121,174 922,227
Gain on derivative (7,300)
Loss on extinguishment of debt 35,400
Changes in Operating Assets and Liabilities:    
Accounts receivable (509,478) 136,464
Inventory 104,200
Prepaid expense (37,552) (93,101)
Accounts payable and accrued expenses 1,578,429 (248,649)
Costs and estimated earnings in excess of billings (483,359) (110,181)
Billings in excess of costs 770,199 58,375
Provision for estimated losses on uncompleted contracts (30,875) (75,940)
Net cash provided by (used in) operating activities 140,123 (2,026,048)
CASH FLOWS FORM FINANCING ACTIVITIES    
Proceeds of convertible notes 150,000
Repayments of convertible notes (150,000)
Repayments of promissory notes (155,005) (323,871)
Proceeds of promissory notes 800,000
Proceeds from common stock subscriptions 1,641,407
Net cash provided by (used in) financing activities (155,005) 2,073,036
Increase (decrease) in cash (14,882) 46,988
Cash, beginning of period 15,388 61,400
Cash, end of period 506 108,388
Cash paid during the period for:    
Interest 117,021 79,315
Taxes
Non-cash Investing and financing activities:    
Notes issued for insurance premiums 85,632 94,706
Debt discount - beneficial conversion feature 67,367
Debt discount paid in form of common shares 80,137
Conversion of debt and interest to common stock 3,248
Stock issuance costs paid in the form of warrants 76,927
Increase in principal amount of convertible notes in connection with debt modification $ 50,310

Source