XML 13 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash $ 29,340 $ 27,436
Accounts receivable, net 127,688 100,621
Prepaid expenses 4,910 18,075
Other receivables 677,429 599,575
Other current assets 2,269
Total Current Assets 841,636 745,707
Other Assets:    
Property and equipment, net 2,995,690 3,254,039
Intangible assets, net 3,724
Goodwill 8,139,889 8,139,889
Operating lease right-of-use assets 139,795 140,218
Other long-term assets 387,181 395,952
Total Other Assets 11,662,555 11,933,822
TOTAL ASSETS 12,504,191 12,679,529
Current Liabilities:    
Cash overdraft 60,421 31,750
Accounts payable 4,531,491 4,216,194
Accrued expenses 1,333,226 1,151,803
Merchant portfolio purchase installment obligation 2,000,000 2,000,000
Operating lease liability – current portion 46,491 46,491
Note payable – current portion 164,101 202,939
Total Current Liabilities 10,119,148 9,396,646
Long Term Liabilities:    
Notes payable, net of current portion
Operating lease liability – net of current portion 93,869 93,869
Total Liabilities 10,213,017 9,490,515
Commitments and contingencies (Note 14)
Stockholders’ Equity:    
Preferred stock, value
Common stock, $0.0001 par value, 50,000,000 shares authorized, 2,380,692 and 2,289,930 shares issued, 2,368,075 and 2,277,313 shares outstanding at March 31, 2025 and December 31, 2024, respectively 237 228
Treasury stock, at cost, 12,617 shares at March 31, 2025 and December 31, 2024 (109,988) (109,988)
Additional paid-in capital 71,289,720 71,098,571
Accumulated deficit (68,888,805) (67,799,807)
Total Stockholders’ Equity 2,291,174 3,189,014
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 12,504,191 12,679,529
Series A Preferred Stock    
Stockholders’ Equity:    
Preferred stock, value 10 10
Related Party    
Current Liabilities:    
Preferred dividend payable (related party) 574,139 543,509
Related party payable 1,183,960 1,203,960
Accrued interest - related party $ 225,319