XML 39 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current Assets:    
Cash $ 317,735 $ 436,592
Accounts receivable - net 7,599,116 6,927,238
Inventory 213,184 298,099
Deposit 12,193  
Prepaid expense 402,478 1,082,784
Total Current Assets 8,544,706 8,744,713
Fixed Assets:    
Computer equipment & software 12,272 66,448
Machinery and equipment 266,823 667,096
Furniture and fixtures 5,665 5,665
Less: Accumulated depreciation (207,851) (661,210)
Total Fixed Assets 76,909 77,999
Other Non-current Assets:    
Product development costs - net 4,916 19,664
Investment (AC Kinetics) 500,000 500,000
Goodwill 1,936,020 1,936,020
Total Other Non-current Assets 2,440,936 2,455,684
Total Assets 11,062,551 11,278,396
Current Liabilities:    
Accounts payable and accrued expenses 2,900,271 1,931,527
Note payable - Sterling Factors 4,090,093 4,237,144
Notes and loans payable to related parties - current maturities 2,033,934 3,220,074
Total Current Liabilities 9,024,298 9,388,745
Long Term Liabilities    
Notes and loans payable to related parties - Long Term   0
Total Liabilities 9,024,298 9,388,745
Commitments and Contingent Liablities      
Stockholders' Equity:    
Preferred Stock, Series A, par value $.001 per share, authorized 100,000,000 shares, issued -0- shares   0
Preferred Stock, Series B-1, par value $.0001 per share, authorized 50,000,000 shares, issued -0- shares 0  
Preferred Stock, Series C, par value $1.00 per share, authorized 1,000 shares, issued 1,000 shares 1,000 1,000
Common Stock, par value $.0001 per share, authorized 850,000,000 shares, 654,010,532 & 657,760,532 shares issued at September 30, 2014 & December 31, 2013 65,401 65,777
Additional paid-in capital 7,187,058 7,172,059
Accumulated deficit (5,215,206) (5,349,185)
Total Stockholders' Equity 2,038,253 1,889,651
Total Liabilities and Stockholders' Equity $ 11,062,551 $ 11,278,396