Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Statement of Cash Flows [Abstract]    
Net loss $ (893,390) $ (694,340)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 189,289 504,499
Amortization of debt discount  
Non-cash interest expense   209,136
Net (gain) loss on equity method investment (17,863) (4,418)
Net (gain) loss on sale of equipment 6,699
Bad Debt 22,157  
Impairment of employee loans 85,800  
Stock-based compensation 48,560 126,521
Changes in Assets and Liabilities:    
Accounts receivable (254,934) (4,063)
Other assets 22,430 (450)
Prepaid expenses and other current assets 12 (112,675)
Employee loan (9,700)
Accounts payable and accrued expenses 701,747 100,817
Deferred revenue 152,683 (33,704)
Deferred rent 653 653
Net Cash Provided by (Used in) Operating Activities 57,144 88,975
Cash Flows from Investing Activities:    
Cash acquired in acquisition 241,583
Net Cash Provided by Investing Activities 241,583
Cash Flows from Financing Activities:    
Issuance of convertible debt   92,000
Repayments of capital lease obligations (200,663) (223,378)
Repayments of credit line (99,292) (1,000)
Proceeds from related party loans 190,000  
Net Cash Provided by (Used in) Financing Activities (109,955) (132,378)
Increase (Decrease) in Cash and Cash Equivalents 188,772 (43,403)
Cash and Cash Equivalents, Beginning of Year 67,045 110,448
Cash and Cash Equivalents, End of Year 255,817 67,045
Cash paid for interest 228,276 78,518
Cash paid for income taxes
Non-cash investing and financing activities:    
Accrual of preferred stock dividend 106,065
Acquisition of equipment under capital lease in connection with asset purchase agreement 25,292  
Conversion of due to related party to convertible debt  
Conversion of due to officer to convertible debt 1,065,762
Stock issued in connection with Asset Purchase Agreement 64,670
Stock issued in connection with convertible debt conversion $ 26,781