Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash $ 14,948,529 $ 4,998,314
Accounts receivable - net of allowance for bad debt of $387,976 and $387,976 for December 31, 2017 and 2016, respectively. 6,826 95,069
Note receivable, net of allowance of $588,864 for December 31, 2017
Prepaid expenses and other current assets 92,855 428,049
Total current assets 15,048,210 5,521,432
Other assets:    
Property and equipment, net of accumulated depreciation of $134,513 and $108,407 for December 31, 2017 and 2016, respectively 10,011 28,329
Intangible assets, net of accumulated amortization of $11,323,185 for December 31, 2016 12,314,628
Other non-current assets, net of discounts of $797 for December 31, 2016 201,203
Goodwill 222,843
Total non-current assets 10,011 12,767,003
TOTAL ASSETS 15,058,221 18,288,435
Current liabilities:    
Accounts payable and accrued expenses 1,961,784 7,217,078
Litigation liability 2,150,000
Clouding IP earn out - current portion 81,930
Warrant liability 1,794,396
Notes payable, net of discounts of $2,290,028 and $852,404 for December 31, 2017 and 2016, respectively 1,763,920 13,162,007
Total current liabilities 7,670,100 20,461,015
Long-term liabilities    
Notes payable, net of discount of $572,763 for December 31, 2016 4,670,502
Clouding IP earn out 1,400,082
Revenue share liability 1,000,000
Other long-term liability 43,978
Total long-term liabilities 7,114,562
Total liabilities 7,670,100 27,575,577
Commitments and Contingencies
Stockholders' Equity (Deficit):    
Preferred stock, $.0001 par value, 50,000,000 shares authorized, 5,513 and 195,501 issued and outstanding at December 31, 2017 and 2016, respectively 1 20
Common stock, $0.0001 par value; 200,000,000 shares authorized; 12,477,781 and 4,638,118 issued and outstanding at December 31, 2017 and 2016, respectively 1,248 463
Additional paid-in capital 97,113,723 49,879,161
Accumulated other comprehensive loss (450,734) (1,060,390)
Non-controlling interests (163,848)
Accumulated deficit (89,276,117) (57,942,548)
Total stockholders' equity (deficit) 7,388,121 (9,287,142)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 15,058,221 $ 18,288,435