Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (448,616) $ (192,144)
Adjustments to reconcile net income (loss) to net cash provided by (used by) operating activities:    
Depreciation and amortization 3,948 5,938
Bad debt expense 2,899 0
Amortization of discount on investment in account receivable (23,601) (24,458)
Loss on disposal of Investor Webcast assets and liabilities. 0 345
Accrued investment interest income (1,934) (95)
Investment loss 81,566 21,944
Decrease (increase) in operating assets    
Accounts receivable - trade 28,040 50,499
Prepaid expenses and other current assets (9,962) 3,328
Employee advances 700 (1,344)
Increase (decrease) in operating liabilities    
Accounts payable 4,728 32,926
Accrued expenses (3,195) (11,736)
Deferred revenue 0 350
Accrued salary, retirement and benefits - related party 251,487 113,498
Net cash provided by (used by) operating activities (113,940) (949)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment 0 (6,297)
Purchase of investment securities (1,049,086) 0
Cash advanced on notes receivable (500,000) 0
Cash paid at Investor Webcast disposition 0 (550)
Proceeds from securities sold 0 28,669
Receipt of investment in receivable 0 26,000
Net cash provided by (used by) investing activities (1,549,086) 47,822
CASH FLOWS FROM FINANCING ACTIVITIES:    
Warrants converted to common stock, net of costs 2,104,748 43,450
Borrowing on line of credit 0 (10,000)
Short term loan from related parties 0 25,000
Payments on long-term debt (9,865) (3,492)
Sale of convertible security 0 28,500
Non-controlling interest distribution (982) 0
Net cash provided by (used by) financing activities 2,093,901 83,458
Net change in cash 430,875 130,331
Beginning cash 1,311,338 73,679
Ending cash 1,742,213 204,010
SUPPLEMENTARY INFORMATION:    
Cash paid for interest 4,113 10,700
Cash paid for income taxes 8,800 600
NON-CASH INVESTING AND FINANCING TRANSACTION:    
Shareholder assumption of warrant liability resulting in increased liability to shareholder (75,490) (105,400)
Contractual interest in legal recovery purchased through issuance of 222,223 shares of restricted common stock in a private offering $ 500,002 $ 0