• Filing Date: 2017-03-31
  • Form Type: 10-K
  • Description: Annual report
v3.7.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Income Statement [Abstract]    
REVENUES $ 11,890,135 $ 13,109,003
COST OF REVENUES 11,353,484 13,521,363
GROSS PROFIT (LOSS) 536,651 (412,360)
OPERATING EXPENSES:    
General and administrative 681,487 736,265
Salaries and benefits 483,937 436,897
Gain on liability adjustment (Note 3) 0 (914,770)
Hillgrove advance - earned credit (Note 9) (120,329) (142,170)
Professional fees 308,078 280,415
TOTAL OPERATING EXPENSES 1,353,173 396,637
INCOME (LOSS) FROM OPERATIONS (816,522) (808,997)
OTHER INCOME (EXPENSE):    
Gain on sale of equipment 0 5,200
Interest income 1,437 6,383
Interest expense (160,795) 0
Factoring expense (35,182) (41,117)
TOTAL OTHER INCOME (EXPENSE) (194,540) (29,534)
INCOME (LOSS) BEFORE INCOME TAXES (1,011,062) (838,531)
INCOME TAX PROVISION (298,138) 0
NET INCOME (LOSS) (1,309,200) (838,531)
Preferred dividends (48,649) (48,649)
Net income (loss) available to common shareholders $ (1,357,849) $ (887,180)
Net loss per share of common stock basic and diluted: $ (0.02) $ (0.01)
Weighted average shares outstanding basic and diluted: 66,781,757 66,207,241