Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash Flows from Operating Activities:    
Net loss $ (144,813) $ (171,101)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 71,366 152,368
Net (gain) loss on equity method investment 9,087 (51,500)
Non cash interest expense 52,299 51,567
Stock based compensation 12,140 24,628
Changes in Assets and Liabilities:    
Accounts receivable 14,621 (22,976)
Other assets (2,100) 1,200
Prepaid expenses and other current assets $ 5,955 31,193
Employee loan (12,000)
Accounts payable and accrued expenses $ 96,808 (90,482)
Deferred revenue (43,455) (7,788)
Deferred rent 163 164
Net Cash Provided by(Used in) Operating Activities $ 72,071 (94,727)
Cash Flows from Financing Activities:    
Issuance of convertible debt 80,000
Repayments of capital lease obligations $ (59,176) (53,905)
Net Cash Provided by (Used in) Financing Activities (59,176) 26,095
Increase (Decrease) in Cash and Cash Equivalents 12,895 (68,632)
Cash and Cash Equivalents, Beginning of Period 67,045 110,448
Cash and Cash Equivalents, End of Period 79,940 41,816
Cash paid for interest $ 15,131 $ 34,135
Cash paid for income taxes
Non cash investing and financing activities:    
Accrual of preferred stock dividend $ 25,234 $ 23,114
Conversion of due to related party to convertible debt 245,601
Conversion of due to officer to convertible debt $ 1,065,762