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Liquidity and Financial Condition (Tables)

6 Months Ended

Jun. 30, 2016

Liquidity and Financial Condition [Abstract]

Schedule of reorganization condensed consolidated balance sheet

		Predecessor Company				Reorganization Adjustments				Fresh Start Adjustments				Successor Company
		(Unaudited)
Assets

Current assets:
Cash and cash equivalents		$	-			$	955,803	(1)		$	-			$	955,803
Short-term investment			30,011				-				-				30,011
Accounts receivable, net			190,893				-				-				190,893
Prepaid expenses			28,589				-				-				28,589
Inventory			40,170				-				-				40,170
Total current assets			289,663				955,803				-				1,245,466
Equipment, net			5,600				-				-				5,600
Security deposit			1,200				-				-				1,200
Goodwill			-				-				4,162,173	(6)			4,162,173
Intangible assets			-				-				3,879,000	(6)			3,879,000

Totals		$	296,463			$	955,803			$	8,041,173			$	9,293,439

Liabilities and Stockholders’ Equity (Deficit)

Current liabilities:
Accounts payable and accrued expenses		$	487,699			$	(212,219	)(2)		$	-			$	275,480
Accounts payable and accrued expenses – subject to compromise			120,325				(86,612	)(2)			-				33,713
Accrued interest, related party – subject to compromise			43,301				(16,801	)(2)			-				26,500
Accrued interest			173,147				(173,147	)(2)			-				-
Related party accounts payable and accrued expenses – subject to compromise			370,151				(163,522	)(2)			-				206,629
Related party notes payable – secured claim			73,500				-				-				73,500
Convertible debentures, net of discounts			5,405,010				(5,405,010	)(3)			-				-
Billings in excess of costs and estimated earnings on uncompleted contracts			42,674				-				-				42,764
Deferred revenue			83,415				-				-				83,415
Convertible option liabilities			-				394,460	(4)			-				394,460
Total current liabilities			6,799,222				(5,662,851	)			-				1,136,371
Debtor in possession financing			600,000				(600,000	)(4)			-				-
Convertible debentures, net of discounts			-				1,560,389	(4)			-				1,560,389
Total liabilities			7,399,222				(4,702,462	)			-				2,696,760

Commitments and Contingencies

Stockholders’ equity (deficit):
Successor Preferred stock, $1.00 par value, 5,405,000 shares authorized; 5,405,010 issued and outstanding at June 30,2016			-				5,405,010	(3)			-				5,405,010
Predecessor Preferred stock, $0.01 par value, 5,000,000 shares authorized; 0 issued and outstanding at December 31,2015			-				-				-				-
Successor Common stock, $0.01 par value, 300,000,000 shares authorized; 491,365 issued and outstanding at June 30,2016			-				4,913	(5)			-				4,913
Predecessor Common stock, $0.01 par value, 300,000,000 shares authorized; 42,918,927 issued and outstanding at December 31, 2015			429,189				(429,189	)(5)			-				-
Successor additional paid-in capital			-				-				1,186,756	(6)			1,186,756
Predecessor additional paid-in capital			7,290,829				-				(7,290,829	)(6)			-
Accumulated deficit			(14,822,777	)			677,531				14,145,246	(6)			-
Total stockholders’ equity (deficit)			(7,102,759	)			5,658,265				8,041,173				6,596,679

Totals		$	296,463			$	955,803			$	8,041,173			$	9,293,439

Schedule of reorganization adjustments of effective date from implementation plan

	Sources:
	Net proceeds from Exit Facility		$	1,319,001
	Total sources			1,319,001
	Uses:
	Predecessor accounts payable and accrued expenses paid upon emergence			185,979
	Other payments made upon emergence			177,219
	Total uses			363,198
	Net Sources		$	955,803

Schedule of reorganization items represent subsequent to bankruptcy filing

		Predecessor For the Three Months Ended June 30, 2016				Predecessor For the Six Months Ended June 30, 2016
Professional fees		$	(80,239	)		$	(171,893	)
Net gain on reorganization items			713,379				713,379
Reorganization items, net		$	633,140			$	541,486