Balance Sheet Disclosures

9 Months Ended

Sep. 30, 2018

Balance Sheet Disclosures [Abstract]

Balance Sheet Disclosures

Note 3 - Balance Sheet Disclosures

Accounts receivable are summarized as follows:

	(Unaudited)
	September 30,			December 31,
	2018			2017
Accounts receivable	$	3,520,182		$	187,426
Allowance for doubtful accounts		(26,000	)		(37,007	)
	$	3,494,182		$	150,419

Property, equipment and land are summarized as follows:

	(Unaudited)
	September 30,			December 31,
	2018			2017
Buildings	$	3,849,312		$	3,849,312
Equipment		3,329,456			3,329,456
Land		975,899			975,899
Transportation equipment		217,200			-
Computer equipment		37,627			37,627
Field equipment		932			-
		8,410,426			8,192,294
Less accumulated depreciation		(835,170	)		(451,871	)
	$	7,575,256		$	7,740,423

Depreciation expense for the nine months ended September 30, 2018 and 2017 was $383,299 and $415,639, respectively.

Intangible assets consist of the following:

	(Unaudited)
	September 30,			December 31,
	2018			2017
Goodwill	$	9,996,005		$	3,993,730
Customer relationships		113,730			113,730
Trade names		86,000			86,000
Favorable leases		307,000			307,000
		10,502,735			4,500,460
Less impairment		(4,100,000	)		(4,100,000	)
Less amortization		(181,487	)		(55,176	)
	$	6,221,248		$	345,284

Amortization expense for the nine months ended September 30, 2018 and 2017 was $126,311 and $84,000, respectively. Future amortization expense will be approximately as follows:

at September 30,
2018 (remainder of the year)	$	37,950
2019		111,100
2020		106,000
2021		10,200
	$	165,250

Accrued expenses consist of the following:

	(Unaudited)
	September 30,		December 31,
	2018		2017
Subcontractor	$	1,635,226	$	-
Compensation, benefits and related payroll taxes		822,293		72,420
Federal alternative fuels tax credit		507,007		562,513
Professional fees		357,831		479,890
Interest		234,026		9,895
Credit cards		190,127		12,527
Operating expenses		149,269		-
Excise taxes		29,012		-
Other		27,763		28,138
Deferred rent		10,769		13,233
	$	3,963,323	$	1,178,616