Restatement of Previously Issued Financial Statements (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Changes and Error Corrections [Abstract]

Schedule of Restatement of Previously Issued Financial Statements

The effect of the restatements on the consolidated balance sheets for December 31, 2018 and 2017 are as follows:

	For the Year Ended December 31, 2018									For the Year Ended December 31, 2017
	As Reported			Restatement Adjustment			As Restated			As Reported			Restatement Adjustment			As Restated
Statement of Operations:
Revenue	$	18,245,212		$	-		$	18,245,212		$	15,595,659		$	-		$	15,595,659
Cost of revenue		7,077,344			-			7,077,344			5,960,223			-			5,960,223
Selling, general and administrative expenses		7,107,432			-			7,107,432			5,734,315			-			5,734,315
Depreciation and amortization expense		3,760,231			-			3,760,231			3,676,598			-			3,676,598
Total operating costs and expenses		17,945,007			-			17,945,007			15,371,136			-			15,371,136
Operating income (loss)		300,205			-			300,205			224,523			-			224,523
Other income (expense)
Interest income		432,753			(377,746	)		55,007			346,926			(338,204	)		8,722
Interest expense		(773,680	)		-			(773,680	)		(905,990	)		-			(905,990	)
Other income		-			-			-			43,669						43,669
Gain (loss) on disposition of assets		(14,013	)		-			(14,013	)		12,167						12,167
Provision for related party note receivable		-			-			-			-			(6,979,043	)		(6,979,043	)
Recovery on related party note receivable		-			377,746			377,746			-			717,709			717,709
Total other expense		(354,940	)		-			(354,940	)		(503,228	)		(6,599,538	)		(7,102,766	)
Net income (loss) before income taxes		(54,735	)		-			(54,735	)		(278,705	)		(6,599,538	)		(6,878,243	)
Income tax expense		(3,640	)		-			(3,640	)		-			-			-
Net income (loss)		(58,375	)		-			(58,375	)		(278,705	)		(6,599,538	)		(6,878,243	)
Earnings (loss) per common share - basic	$	(0.00	)	$	-		$	(0.00	)	$	(0.01	)	$	(0.27	)	$	(0.28	)
Earnings (loss) per common share - diluted	$	(0.00	)	$	-		$	(0.00	)	$	(0.01	)	$	(0.27	)	$	(0.28	)
Weighted average common shares outstanding - basic		24,608,967			24,608,967			24,608,967			24,268,409			24,268,409			24,268,409
Weighted average common shares outstanding - diluted		24,608,967			24,608,967			24,608,967			24,268,409			24,268,409			24,268,409
Balance Sheet:
Current assets	$	7,675,186		$	-		$	7,675,186		$	6,350,564		$	-		$	6,350,564
Total assets		27,006,405			(7,367,212	)		19,639,193			28,675,856			(7,367,212	)		21,308,644
Current liabilities		5,931,980			-			5,931,980			7,666,905			-			7,666,905
Total liabilities		12,228,974			-			12,228,974			14,373,280			-			14,373,280
Total shareholders’ equity		14,777,431			(7,367,212	)		7,410,219			14,302,576			(7,367,212	)		6,935,364
Total liabilities and shareholders’ equity		27,006,405			(7,367,212	)		19,639,193			28,675,856			(7,367,212	)		21,308,644