• Filing Date: 2013-08-09
  • Form Type: 10-Q
  • Description: Quarterly report
v2.4.0.8
Statement - Consolidated Condensed Balance Sheets (Unaudited) (USD $) (USD $)
Jun. 28, 2013
Dec. 28, 2012
Current assets    
Cash $ 1,298,181 $ 1,632,993
Restricted cash 0 21,295
Accounts receivable, net of allowance for doubtful accounts of $1,167,000 and $558,000 11,112,950 13,701,396
Prepaid expenses, deposits and other 387,974 409,547
Prepaid workers' compensation 123,218 22,852
Other receivables 17,608 17,618
Current portion of workers' compensation deposits 995,738 1,200,000
Total Current Assets 13,935,669 17,005,701
Property and equipment - net 415,725 609,772
Workers' compensation risk pool deposits, less current portion 1,302,518 506,196
Goodwill 3,306,786 3,306,786
Intangible assets - net 453,067 522,535
Total Assets 19,413,765 21,950,990
Current liabilities    
Accounts payable 546,149 722,150
Checks issued and payable 392,684 511,105
Account purchase agreement facility 7,569,224 9,051,999
Other current liabilities 356,653 507,122
Contingent liability 0 322,874
Accrued wages and benefits 1,324,441 1,713,480
Current portion of workers' compensation premiums and claims liability 1,277,929 2,005,579
Total Current Liabilities 11,467,080 14,834,309
Long-term liabilities    
Warrant liabilities 502,069 599,473
Workers compensation claims liability, less current portion 2,540,390 2,510,687
Total liabilities 14,509,539 17,944,469
Commitments and contingencies      
Stockholders equity:    
Preferred stock - $0.001 par value, 5,000,000 shares authorized; none issued 0 0
Common stock - 100,000,000 shares, $0.001 par value, authorized; 59,611,242 and 59,611,242 shares issued and outstanding, respectively 59,611 59,611
Additional paid-in capital 56,046,303 55,633,377
Accumulated deficit (51,201,688) (51,686,467)
Total Stockholders' Equity 4,904,226 4,006,521
Total Liabilities and Stockholders' Equity $ 19,413,765 $ 21,950,990