Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.4.0.3
Consolidated Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 545,380 $ 344,365
Accounts receivable, net 604,156 570,347
Prepaids and other current assets 40,766 38,362
Due from related party 54,473 54,473
Total current assets 1,244,775 1,007,547
Property and equipment, net 4,907,115 5,041,280
Other assets:    
Secured letter of credit 324,950 324,950
Intangible assets, net 1,340,756 1,413,353
Goodwill 2,179,183 2,179,183
Deferred tax asset 36,474 53,662
Other deposits 13,698 8,750
Total other assets 3,895,061 3,979,898
Total assets 10,046,951 10,028,725
Current liabilities:    
Accounts payable and accrued expenses 276,577 228,957
Current portion of long term debt 162,382 184,932
Current portion of capital lease obligations 26,215 25,131
Due to related party 514,067 742,441
Short term related party acquisition notes 100,000 $ 350,000
Accrued preferred stock dividends 50,000
Income taxes payable 10,736 $ 32,242
Total current liabilities 1,139,977 1,563,703
Long-term liabilities:    
Capital lease obligations, net of current portion 95,955 102,929
Long term debt, net of current portion 383,677 419,073
Environmental remediation obligation $ 424,596 424,596
Loan from shareholder 2,017,301
Long term deferred tax liability $ 70,221 70,221
Total liabilities $ 2,114,426 $ 4,597,823
Commitments and contingencies (see note 5)
Stockholders' equity (deficit):    
Common stock, no par value; 250,000,000 shares authorized, 66,623,312 and 62,880,483 shares issued and outstanding at March 31, 2016 and December 31 2015, respectively.
Additional paid-in capital $ 6,198,965 $ 2,456,136
Common stock subscribed 3,150,000
Retained earnings (deficit) $ (266,440) (175,234)
Total stockholders' equity 7,932,525 5,430,902
Total liabilities and stockholders' equity $ 10,046,951 $ 10,028,725
Series A Preferred Stock    
Stockholders' equity (deficit):    
Preferred stock value
Series B Preferred Stock    
Stockholders' equity (deficit):    
Preferred stock value $ 2,000,000