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LIQUIDITY AND GOING CONCERN CONSIDERATIONS
3 Months Ended
Mar. 31, 2018
Liquidity And Going Concern Considerations [Abstract]  
LIQUIDITY AND GOING CONCERN CONSIDERATIONS

NOTE 3. LIQUIDITY AND GOING CONCERN CONSIDERATIONS

  

The Company’s condensed consolidated financial statements have been prepared on a going concern basis. Although, the Company had a net loss of $1.6 million for the quarter ended March 31, 2018, and an accumulated deficit of $168.9 million at March 31, 2018, the company had a cash balance of $9.2 million and projects future cash needs of $4.8 million for the next 12 months to fund operations, indebtedness and capital expenditures.

  

The Company is continuing with its plan to further grow and expand its payment processing operations and develop blockchain solutions for merchant services. Management believes that its current cash position and operating strategy will provide the opportunity for the Company to continue as a going concern; however, there is no assurance this will occur.