• Filing Date: 2018-11-13
  • Form Type: 10-Q
  • Description: Quarterly report
v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
CURRENT ASSETS    
Cash and cash equivalents $ 1,483,568 $ 1,957,212
Accounts receivable, net 6,810,791 6,707,294
Inventory 124,731 155,716
Note receivable 0 1,475,000
Other current assets 404,223 687,966
Total current assets 8,823,313 10,983,188
PROPERTY AND EQUIPMENT:    
Furniture and fixtures 252,412 211,885
Office equipment 549,554 524,131
Camera systems 1,319,078 462,399
Vehicles 36,020 10,020
Leasehold improvements 111,845 72,918
Total fixed assets 2,268,909 1,281,353
Less: accumulated depreciation (892,153) (633,014)
Net property and equipment 1,376,756 648,339
Goodwill 3,092,616 3,092,616
Intangibles, net 5,082,846 5,468,874
OTHER ASSETS    
Investment at cost 262,140 262,140
Deposits and other long-term assets 44,386 143,583
Total other assets 306,526 405,723
Total Assets 18,682,057 20,598,740
CURRENT LIABILITIES    
Accounts payable 2,191,971 1,390,877
Accrued expenses 3,189,473 3,060,512
Lines of credit 2,091,602 3,663,586
Notes payable, current portion 4,241 0
Deferred revenue 164,303 117,636
Total current liabilities 7,641,590 8,232,611
LONG-TERM LIABILITIES    
Notes payable 3,390,295 1,405,994
Deferred rent 42,005 53,217
Total long-term liabilities 3,432,300 1,459,211
Total liabilities 11,073,890 9,691,822
Series A Cumulative Convertible Redeemable Preferred stock, $0.0001 par value, 505,000 shares authorized and 502,327 shares issued and outstanding as of September 30, 2018 and December 31, 2017, respectively 4,879,277 4,396,580
STOCKHOLDERS' EQUITY    
Common stock, $0.0001 par value, 30,000,000 shares authorized, 14,545,695 and 14,463,364 shares issued and outstanding as of September 30, 2018 and December 31, 2017, respectively 1,455 1,447
Additional paid-in capital 12,591,762 12,342,527
Accumulated deficit (9,864,351) (5,833,660)
Total Stockholders' Equity 2,728,890 6,510,338
Total Liabilities and Stockholders' Equity 18,682,057 20,598,740
Series A    
STOCKHOLDERS' EQUITY    
Preferred stock 0 0
Series B    
STOCKHOLDERS' EQUITY    
Preferred stock $ 24 $ 24