Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Current assets    
Cash and cash equivalents $ 311,275 $ 326,228
Accounts receivable, net 307,060 300,947
Prepaid expenses and other current assets 24,075 55,655
Investments in securities, at fair value 109,449 5,832
Investment in accounts receivable, net of discount, current portion 43,627 114,750
Note receivable - MicroCannaBiz member, current portion 12,275 0
Employee advances 3,350 2,500
Total current assets 811,111 805,912
Property and equipment    
Property and equipment 229,035 239,060
Accumulated depreciation and amortization (169,790) (157,484)
Property and equipment, net 59,245 81,576
Other assets    
Receivable - Bhang Corporation and shareholders 1,500,000 1,500,000
Note receivable - MicroCannaBiz member, net of current portion 62,361 0
Deposits 10,575 9,575
Convertible note receivable 106,436 104,942
Long term investments 59,793 66,203
Goodwill 1,892,947 1,426,182
Total other assets 4,152,143 3,106,902
Total assets 5,022,499 3,994,390
Current liabilities    
Accounts payable 46,504 65,585
Accrued expenses 129,478 166,423
Deferred revenue 78,964 0
Line of credit 60,000 60,000
Current portion of long term debt 14,375 18,911
Total current liabilities 329,321 310,919
Long-term liabilities    
Accrued salary, retirement and benefits - related party 435,062 272,982
Long term debt, net of current portion 25,362 31,249
Convertible security 469,611 0
Total long-term liabilities $ 930,035 $ 304,232
Commitments and Contingencies    
Shareholders' equity    
Preferred stock, no par value, 100,000,000 shares authorized; no shares issued and outstanding $ 0 $ 0
Common stock, no par value, 400,000,000 shares authorized; 15,923,765 and 14,483,215 shares issued and outstanding at June 30, 2015 and December 31, 2014 7,742,014 7,001,908
Additional paid in capital 234,731 234,731
Accumulated deficit (4,021,045) (3,652,101)
Non-controlling interest (192,557) (205,298)
Total shareholders' equity 3,763,143 3,379,240
Total liabilities and shareholders' equity $ 5,022,499 $ 3,994,390