Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 487,953 $ 76,459
Accounts receivable –net of allowance of $344,412 and $0, respectively 799,246 520,692
Prepaid and other assets 11,160
Convertible notes receivable, at fair value 837,317
Interest receivable 121,350
Investment in warrants, at fair value 67,000
Total current assets 1,298,359 1,622,818
Fixed assets 105,199
Goodwill 8,366,467
Intangible assets 205,219
Other assets 17,561 1,409,284
Total assets 9,992,805 3,032,102
Current liabilities:    
Accounts payable and accrued liabilities 2,010,556 855,759
Contract liabilities 1,056,637 816,714
Total current liabilities 3,067,193 1,672,473
Long-term liabilities:    
Notes payable - related party   1,591,491
Total long-term liabilities 1,591,491
Total liabilities 3,067,193 3,263,964
Commitments and contingencies
Stockholders’ equity/(deficit):    
Series A Convertible Preferred stock, $0.001 par value; 900,000 shares authorized; 578,567 and 0 shares issued and outstanding, respectively 579
Common stock, $0.001 par value; 45,000,000 shares authorized; 7,390,261 and 5,838,149 shares issued and outstanding, respectively 7,391 5,838
Additional paid-in capital 19,712,115 1,244,273
Accumulated deficit (12,794,473) (1,481,973)
Total stockholders’ equity/(deficit) 6,925,612 (231,862)
Total liabilities and stockholders’ equity/(deficit) $ 9,992,805 $ 3,032,102