Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2019
Dec. 31, 2018
ASSETS    
Cash and cash equivalents $ 445,000 $ 1,000
Accounts receivable, net of allowance for doubtful accounts 101,000 224,000
Prepaid expenses 8,000 9,000
Total current assets 554,000 234,000
Property and equipment, net 6,000 11,000
Right of use lease asset - operating 53,000
Software development costs, net 625,000 535,000
Acquired technology, net 891,000 539,000
Goodwill and intangible assets, net 393,000 416,000
Total long-term assets 1,968,000 1,501,000
TOTAL ASSETS 2,522,000 1,735,000
LIABILITIES AND STOCKHOLDERS' DEFICIT    
Accounts payable and accrued expenses 1,001,000 664,000
Line of credit 498,000
Operating lease liability, current portion 55,000
Current maturities of long-term debt 880,000 1,361,000
Total current liabilities 1,936,000 2,523,000
Long-term debt, net of current maturities 13,000 55,000
Deferred revenue 108,000 115,000
Total long-term liabilities 121,000 170,000
TOTAL LIABILITIES 2,057,000 2,693,000
STOCKHOLDERS' EQUITY (DEFICIT)    
Preferred Stock, Undesignated par value $0.001; Authorized 10,000,000 shares; none issued or outstanding
Common stock par value $0.001; 600,000,000 shares authorized; Issued and Outstanding: 67,476,089 as of December 31, 2019 and 50,864,131 as of December 31, 2018 67,000 51,000
Additional paid-in-capital 74,738,000 70,335,000
Accumulated deficit (74,340,000) (71,344,000)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 465,000 (958,000)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 2,522,000 $ 1,735,000