ÌÒÖ­Ó°Ôº

Current report filing

Consolidated Balance Sheets (USD $)

v2.4.0.6
Consolidated Balance Sheets (USD $) (USD $)
Dec. 31, 2011
Dec. 31, 2010
Assets    
Cash and cash equivalents $ 766,602 $ 294,838
Accounts receivable 847,234 1,064,663
Accounts receivable, secured - related party 772,793 780,169
Note receivable from officer, secured - related party 150,000   
Prepaid expenses and other current assets 103,478 5,794
Total current assets 2,640,107 2,145,464
Property and equipment, net 129,944 21,884
Intangible assets, net 1,236,996 494,161
Other assets 6,559 6,559
Total assets 4,013,606 2,668,068
Liabilities and Stockholders Equity (Deficiency)    
Accounts payable 1,094,029 313,326
Accrued expenses 167,528 266,116
Deferred revenue 835,694 890,204
Notes payable, current portion 6,383 [1] 30,871
Deferred rent, current portion 4,291 2,324
Total current liabilities 2,107,925 1,502,841
Line of credit 233,215 243,499
Loans payable 200,000 200,000
Notes payable 8,768 15,151
Deferred rent 21,274 25,565
Total liabilities 2,571,182 1,987,056
Temporary equity:    
Series A preferred stock, $0.001 par value; 850,500 shares designated, 809,900 [2]   
Series D preferred stock, $0.001 par value; 3,700,000 shares designated, 1,176,750 and 0 shares issued and outstanding, respectively 1,109,268 [2]   
Series E preferred stock, $0.001 par value; 2,000,000 shares designated, 1,700,000 and 0 shares issued and outstanding, respectively 1,550,817 [2]   
Total temporary equity 3,469,985   
Stockholders equity (deficiency):    
Preferred stock, $0.001 par value; 20,000,000 shares authorized      
Series C preferred stock, $0.001 par value; 11,411,400 shares designated, 11,307,450 and 0 shares issued and outstanding, respectively 11,307 [2]   
Series B preferred stock, $0.001 par value; 368,421 shares designated, 368,411 and 0 shares issued and outstanding, respectively 368 [2]   
Common stock, $0.001 par value; 60,000,000 shares authorized, 11,837,930 and 21,000,000 issued and outstanding, respectively 11,838 [3] 21,000
Additional paid-in capital 3,275,296 [3] 3,850,809
Accumulated deficit (5,326,370) (3,190,797)
Total stockholders equity (deficiency) (2,027,561) 681,012
Total liabilities and stockholders equity (deficiency) $ 4,013,606 $ 2,668,068
[1] On December 12, 2011, subsequent to the historical balance sheet date presented and prior to the reverse merger, AGI received $10,000 of proceeds in exchange for a convertible promissory note payable.
[2] Upon closing of reverse merger, all series of AUI preferred shares were automatically converted to 13,677,274 common shares.
[3] On February 14, 2012, AGI completed a 1-for-2.5 reverse split whereby each 2.5 issued and outstanding shares of AGI common stock, par value of $0.0001 per share were converted into 1 share of AGI (leaving 48,960,000 common shares).