Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities:    
Net loss $ (509,311) $ (515,587)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 157,071 412,462
Net (gain) loss on equity method investment 2,572 (26,972)
Write off employee loan 85,800
Non cash interest expense 174,851 158,673
Loan Impairment 18,300
Stock based compensation 36,420 73,883
Changes in Assets and Liabilities:    
Accounts receivable 14,986 (23,714)
Other assets (9,096) (450)
Prepaid expenses and other current assets (43,965) (147,307)
Employee loan (28,000)
Accounts payable and accrued expenses 392,816 128,084
Deferred revenue (94,057) (26,905)
Deferred rent 490 490
Net Cash Provided by Operating Activities 208,577 22,957
Cash Flows from Financing Activities:    
Issuance of convertible debt 10,000 80,000
Repayments of revolving credit facility (10,000)
Repayments of capital lease obligations (180,151) (165,320)
Net Cash (Used in) Financing Activities (170,151) (95,320)
Increase (Decrease) in Cash and Cash Equivalents 38,426 (72,363)
Cash and Cash Equivalents, Beginning of Period 67,045 110,448
Cash and Cash Equivalents, End of Period 105,471 38,085
Cash paid for interest 29,615 44,334
Cash paid for income taxes
Non cash investing and financing activities:    
Accrual of preferred stock dividend 78,550 71,106
Conversion of due to related party to convertible debt 245,601
Conversion of due to officer to convertible debt 1,065,762
Acquisition of equipment under capital lease   $ 14,443