Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheet

v3.20.2
Condensed Consolidated Balance Sheet - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash $ 10,722,000 $ 983,000
Accounts receivable, net of allowance of $216,000 and $230,000, respectively 1,353,000 1,271,000
Inventory, net of allowance of $30,000 and $2,000, respectively 12,000 103,000
Prepaid expenses 675,000 236,000
Total current assets 12,762,000 2,593,000
Right-of-use assets, net of accumulated amortization of $756,000 and $349,000 respectively 2,868,000 3,275,000
Property and equipment, net of accumulated depreciation of $294,000 and $164,000, respectively 907,000 720,000
Intangible assets, net of accumulated amortization of $1,953,000 and $975,000 respectively 6,270,000 5,365,000
Goodwill (including provisional goodwill of $3,362,000 at September 30, 2020) 19,699,000 16,337,000
Other assets 69,000 69,000
Total assets 42,575,000 28,359,000
Current liabilities:    
Accounts payable and accrued expenses 5,346,000 4,338,000
Accrued officers' salary 207,000 207,000
Accrued interest (including $87,000 and $82,000 payable to related parties) 95,000 82,000
Advance on future receipts, net of discount of $176,000 and $274,000, respectively 418,000 732,000
Notes Payable 1,885,000
Notes payable - related party 1,177,000 112,000
Operating lease liability, current 595,000 391,000
Deferred incentive compensation to officers, current 521,000
Contract liabilities and customer deposits 685,000 306,000
Derivative liability 4,545,000 5,048,000
Total current liabilities 15,474,000 11,216,000
Long Term liabilities:    
Notes payable, non-current 1,458,000
Note payable - related party, non-current 1,065,000
Deferred incentive compensation to officers, non-current 521,000 1,042,000
Deferred payroll taxes 247,000
Operating lease liability, non-current 3,101,000 3,591,000
Total liabilities 20,801,000 16,914,000
Commitments and contingencies  
Stockholders' equity    
Class A units, 100 shares authorized, 100 issued and outstanding as of September 30, 2020
Class B units, 2,642,159 shares authorized, 2,642,159 issued and outstanding as of September 30, 2020 3,065,000
Preferred stock, $0.0001 par value, 15,000,000 shares authorized: Series A Convertible Preferred Stock, 6,000 shares authorized; 2,406 and 4,396 issued and outstanding as of September 30, 2020 and December 31, 2019
Common stock, $0.0001 par value, 200,000,000 shares authorized, 46,663,790 and 24,496,197 shares issued and outstanding as of September 30, 2020 and December 31, 2019 5,000 2,000
Additional paid-in capital 87,979,000 68,028,000
Accumulated deficit (69,275,000) (56,585,000)
Total stockholders' equity 21,774,000 11,445,000
Total liabilities and stockholders' equity $ 42,575,000 $ 28,359,000