• Filing Date: 2013-11-07
  • Form Type: 10-Q
  • Description: Quarterly report
v2.4.0.8
Statement - Consolidated Condensed Balance Sheets (Unaudited) (USD $) (USD $)
Sep. 27, 2013
Dec. 28, 2012
Current assets    
Cash $ 3,055,799 $ 1,632,993
Restricted cash    21,295
Accounts receivable, net of allowance for doubtful accounts 12,289,792 13,701,396
Prepaid expenses, deposits and other 425,827 409,547
Prepaid workers' compensation 105,803 22,852
Other receivables 21,196 17,618
Current portion of workers' compensation deposits 1,155,000 1,200,000
Total Current Assets 17,053,417 17,005,701
Property and equipment - net 364,464 609,772
Workers' compensation risk pool deposits, less current portion 1,722,002 506,196
Goodwill 3,306,786 3,306,786
Intangible assets - net 419,584 522,535
Total Assets 22,866,253 21,950,990
Current liabilities    
Accounts payable 889,495 722,150
Checks issued and payable 248,575 511,105
Account purchase agreement facility 8,168,500 9,051,999
Other current liabilities 587,152 507,122
Contingent liability    322,874
Accrued wages and benefits 1,504,645 1,713,480
Current portion of workers' compensation premiums and claims liability 1,357,820 2,005,579
Total Current Liabilities 12,756,187 14,834,309
Long-term liabilities    
Warrant liabilities 1,386,168 599,473
Workers compensation claims liability, less current portion 2,569,517 2,510,687
Total liabilities 16,711,872 17,944,469
Commitments and contingencies     
Stockholders equity:    
Preferred stock - $0.001 par value, 5,000,000 shares authorized; none issued    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 56,068,515 55,633,377
Accumulated deficit (49,973,745) (51,686,467)
Total Stockholders' Equity 6,154,381 4,006,521
Total Liabilities and Stockholders' Equity $ 22,866,253 $ 21,950,990