Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current assets    
Cash and cash equivalents $ 199,818 $ 326,228
Accounts receivable, net 386,910 300,947
Prepaid expenses and other current assets 25,447 55,655
Investments in securities, at fair value 113,857 5,832
Investment in accounts receivable, net of discount, current portion 68,085 114,750
Note receivable - MicroCannaBiz member, current portion 16,352 0
Employee advances 4,763 2,500
Total current assets 815,232 805,912
Property and equipment    
Property and equipment 236,033 239,060
Accumulated depreciation and amortization (178,936) (157,484)
Property and equipment, net 57,097 81,576
Other assets    
Receivable - Bhang Corporation and shareholders 1,500,000 1,500,000
Note receivable - MicroCannaBiz member, net of current portion 59,657 0
Deposits 9,575 9,575
Convertible note receivable 107,772 104,942
Long term investments 55,943 66,203
Goodwill 1,892,947 1,426,182
Total other assets 4,145,925 3,106,902
Total assets 5,018,254 3,994,390
Current liabilities    
Accounts payable 48,994 65,585
Accrued expenses 150,605 166,423
Deferred revenue 52,829 0
Line of credit 60,000 60,000
Current portion of long term debt 11,518 18,911
Total current liabilities 323,946 310,919
Long-term liabilities    
Accrued salary, retirement and incentive fee - related party 453,093 272,982
Long term debt, net of current portion 22,910 31,249
Convertible security 589,611 0
Total long-term liabilities 1,065,614 304,232
Total liabilities $ 1,389,560 $ 615,150
Commitments and Contingencies
Shareholders' equity    
Preferred stock, $0.0001 par value and no par value, 5,000,000 and 100,000,000 shares authorized; no shares issued and outstanding $ 0 $ 0
Common stock, $0.0001 par value, 75,000,000 shares authorized;16,023,123 shares issued and outstanding at September 30, 2015 1,602 0
Common stock, no par value, 400,000,000 shares authorized;14,483,215 shares issued and outstanding at December 31, 2014 0 7,001,908
Additional paid in capital 8,004,386 234,731
Accumulated deficit (4,182,992) (3,652,101)
Non-controlling interest (194,302) (205,298)
Total shareholders' equity 3,628,694 3,379,240
Total liabilities and shareholders' equity $ 5,018,254 $ 3,994,390