Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.21.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 506,174 $ 686,611
Investment in securities, at fair value 34,826 0
Accounts receivable, net 508,286 521,605
Net finance leases receivable, current portion 69,053 62,145
Net finance leases receivable, non-performing, current portion 0 269,000
Investment in accounts receivable, current portion 26,162 4,000
Convertible notes receivable, current portion 26,454 52,930
Prepaid expenses and other current assets 17,839 59,065
Employee advances 1,050 4,421
Total current assets 1,189,844 1,659,777
Property and equipment    
Property and equipment 267,160 153,163
Accumulated depreciation and amortization (129,974) (121,542)
Property and equipment, net 137,186 31,621
Other assets    
Operating lease right-of-use assets 129,295 324,408
Finance lease right-of-use assets 296,078 169,692
Investment in account receivable, net of discount and current portion 303,896 381,512
Net finance leases receivable, net of current portion 306,898 382,727
Convertible notes receivable, net of current portion 55,584 25,191
Contractual interest in legal recovery 381,529 346,195
Deposits 9,575 9,575
Long term investments 205,028 209,697
Goodwill 1,426,182 1,426,182
Total other assets 3,114,065 3,275,179
Total assets 4,441,095 4,966,577
Current liabilities    
Accounts payable 18,813 74,120
Accrued expenses 259,934 217,764
Related party payable 20,000 27,472
Deferred revenue 16,198 22,653
Paycheck protection program loan - current portion 6,658 0
Finance lease liability - current portion 79,526 41,675
Operating lease liability - current portion 123,158 184,436
Current portion of long-term debt 15,566 24,017
Total current liabilities 539,853 592,137
Long-term liabilities    
Accrued salary, retirement and incentive fee - related party 1,137,334 1,108,438
Paycheck protection program loan, net of current portion 2,791 0
Economic injury disaster loan 152,602 0
Finance lease liability, net of current portion 190,976 112,418
Operating lease liability, net of current portion 16,150 140,900
Long term debt, net of current portion 66,246 0
Total long-term liabilities 1,566,099 1,361,756
Total liabilities 2,105,952 1,953,893
Commitments and Contingencies (Note 20) 0 0
Shareholders' equity    
Preferred Stock, Value [1] 0 0
Common Stock, Value, Issued 2,285 2,285
Additional paid in capital 13,071,655 13,071,655
Accumulated deficit (10,601,231) (9,875,206)
Non-controlling interest (137,566) (186,050)
Total shareholders' equity 2,335,143 3,012,684
Total liabilities and shareholders' equity $ 4,441,095 $ 4,966,577
[1] * Par value is less than $0.01