Quarterly report pursuant to Section 13 or 15(d)

Liquidity and Financial Condition (Details)

v3.8.0.1
Liquidity and Financial Condition (Details) - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Dec. 31, 2015
Current assets:          
Cash and cash equivalents $ 6,098,336 $ 549,100 $ 346,417   $ 955,803
Short-term investment 30,029 30,017      
Accounts receivable, net 357,197 234,518      
Prepaid expenses 343,173 124,720      
Inventory 9,445      
Total current assets 6,887,959 981,149      
Equipment, net 7,668 5,559      
Goodwill 4,162,173 4,162,173      
Intangible assets   3,175,563      
Totals 14,233,363 8,736,131      
Current liabilities:          
Accounts payable and accrued expenses 927,724 350,772      
Billings in excess of costs and estimated earnings on uncompleted contracts 802,915 48,478      
Deferred revenue 72,788      
Total current liabilities 1,730,639 856,499      
Total liabilities 1,730,639 3,302,836      
Commitments and Contingencies      
Stockholders' equity (deficit):          
Accumulated deficit (4,745,879) (1,306,576)      
Total stockholders' equity (deficit) 12,502,724 5,433,295      
Totals $ 14,233,363 $ 8,736,131      
Predecessor Company [Member]          
Current assets:          
Cash and cash equivalents       $ 955,803 $ 466,997
Short-term investment       30,011  
Accounts receivable, net       190,893  
Prepaid expenses       28,589  
Inventory       40,170  
Total current assets       289,663  
Equipment, net       5,600  
Security deposit       1,200  
Goodwill        
Intangible assets        
Totals       296,463  
Current liabilities:          
Accounts payable and accrued expenses       487,699  
Accounts payable and accrued expenses - subject to compromise       120,325  
Accrued interest, related party - subject to compromise       43,301  
Accrued interest       173,147  
Related party accounts payable and accrued expenses - subject to compromise       370,151  
Related party notes payable - secured claim       73,500  
Convertible debentures, net of discounts       5,405,010  
Billings in excess of costs and estimated earnings on uncompleted contracts       42,674  
Deferred revenue       83,415  
Convertible option liabilities        
Total current liabilities       6,799,222  
Debtor in possession financing       600,000  
Convertible debentures, net of discounts        
Total liabilities       7,399,222  
Commitments and Contingencies        
Stockholders' equity (deficit):          
Successor preferred stock, $1.00 par value, 5,405,010 shares authorized; 1,801,670 issued and outstanding at June 30, 2016        
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; 163,901 issued and outstanding at June 30, 2016        
Predecessor common stock, $0.01 par value, 300,000,000 shares authorized; 42,918,927 issued and outstanding at December 31, 2015       429,189  
Successor additional paid-in capital        
Predecessor additional paid-in capital       7,290,829  
Accumulated deficit       (14,822,777)  
Total stockholders' equity (deficit)       (7,102,759)  
Totals       296,463  
Reorganization Adjustments [Member]          
Current assets:          
Cash and cash equivalents [1]       955,803  
Short-term investment        
Accounts receivable, net        
Prepaid expenses        
Inventory        
Total current assets       955,803  
Equipment, net        
Security deposit        
Goodwill        
Intangible assets        
Totals       955,803  
Current liabilities:          
Accounts payable and accrued expenses [2]       (212,219)  
Accounts payable and accrued expenses - subject to compromise [2]       (86,612)  
Accrued interest, related party - subject to compromise [2]       (16,801)  
Accrued interest [2]       (173,147)  
Related party accounts payable and accrued expenses - subject to compromise [2]       (163,522)  
Related party notes payable - secured claim        
Convertible debentures, net of discounts [3]       (5,405,010)  
Billings in excess of costs and estimated earnings on uncompleted contracts        
Deferred revenue        
Convertible option liabilities [4]       394,460  
Total current liabilities       (5,662,851)  
Debtor in possession financing [4]       (600,000)  
Convertible debentures, net of discounts [4]       1,605,540  
Total liabilities       (4,657,311)  
Commitments and Contingencies        
Stockholders' equity (deficit):          
Successor preferred stock, $1.00 par value, 5,405,010 shares authorized; 1,801,670 issued and outstanding at June 30, 2016 [3]       1,801,670  
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; 163,901 issued and outstanding at June 30, 2016 [5]       1,639  
Predecessor common stock, $0.01 par value, 300,000,000 shares authorized; 42,918,927 issued and outstanding at December 31, 2015 [5]       (429,189)  
Successor additional paid-in capital [1],[3]       3,561,463  
Predecessor additional paid-in capital        
Accumulated deficit       677,531  
Total stockholders' equity (deficit)       5,613,114  
Totals       955,803  
Fresh Start Adjustments [Member]          
Current assets:          
Cash and cash equivalents        
Short-term investment        
Accounts receivable, net        
Prepaid expenses        
Inventory        
Total current assets        
Equipment, net        
Security deposit        
Goodwill [6]       4,162,173  
Intangible assets [6]       3,879,000  
Totals       8,041,173  
Current liabilities:          
Accounts payable and accrued expenses        
Accounts payable and accrued expenses - subject to compromise        
Accrued interest, related party - subject to compromise        
Accrued interest        
Related party accounts payable and accrued expenses - subject to compromise        
Related party notes payable - secured claim        
Convertible debentures, net of discounts        
Billings in excess of costs and estimated earnings on uncompleted contracts        
Deferred revenue        
Convertible option liabilities        
Total current liabilities        
Debtor in possession financing        
Convertible debentures, net of discounts        
Total liabilities        
Commitments and Contingencies        
Stockholders' equity (deficit):          
Successor preferred stock, $1.00 par value, 5,405,010 shares authorized; 1,801,670 issued and outstanding at June 30, 2016        
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; 163,901 issued and outstanding at June 30, 2016        
Predecessor common stock, $0.01 par value, 300,000,000 shares authorized; 42,918,927 issued and outstanding at December 31, 2015        
Successor additional paid-in capital [6]       1,186,756  
Predecessor additional paid-in capital [6]       (7,290,829)  
Accumulated deficit [6]       14,145,246  
Total stockholders' equity (deficit)       8,041,173  
Totals       $ 8,041,173  
[1] Reorganization adjustment.
[2] Reflects the settlement of accounts payable and accrued expenses upon our emergence from bankruptcy, as well as payments made on the Effective Date.
[3] Reflects the conversion of Convertible Debentures to Preferred Stock.
[4] Reflects the Convertible Debentures.
[5] Reflects the cancellation of Former Common Stock and the issuance of New Common Stock.
[6] Reflects the recognition of goodwill, intangible assets and the cumulative impact of fresh-start adjustments.