Financials

v3.7.0.1
Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets    
Cash $ 5,652 $ 46,812
Advances to employees 13,540 13,449
Contracts receivable (net of allow. for bad debt) 3,808,450 4,710,569
Inventory 84,517 85,614
Deferred Tax Asset - Current 86,098
Prepaid expenses 122,462 27,659
Cost and estimated earnings in excess of billings on uncompleted contracts 980,887 687,791
Total current assets 5,015,508 5,657,992
Property and equipment, net 1,571,834 1,677,682
Goodwill 1,446,855 1,446,855
Deferred tax asset- non-current 718,980 632,882
Other assets 4,731 4,731
TOTAL ASSETS 8,757,908 9,420,142
Current liabilities    
Accounts payable 2,348,713 2,354,189
Accrued payroll 30,699 30,967
Accrued job costs 22,192 128,355
Billings in excess of costs and estimated earnings on uncompleted contracts 429,886 218,864
Notes payable
Current portion long-term debt    
Related party 212,268 229,011
Non-related party 601,043 602,630
Total current liabilities 3,644,801 3,563,996
Long-term debt, net of current portion    
Related party 3,063,002 3,218,790
Non-related party 2,166,984 2,350,471
Total long-term liabilities 5,229,986 5,569,261
Stockholders' equity    
Common stock, authorized: $0.001 par value, 250,000,000 shares, at March 31, 2017; issued: 47,300,500 shares, at March 31, 2017; 47,300,500 shares, at December 31, 2016 47,300 47,300
Additional paid in capital 1,471,158 1,471,158
Accumulated surplus (1,635,337) (1,231,573)
Total stockholders' equity (116,879) 286,885
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 8,757,908 $ 9,420,142
v3.7.0.1
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Income Statement [Abstract]    
Revenues $ 3,172,088 $ 4,000,808
Cost of sales 2,349,466 2,686,036
Gross profit 822,622 1,314,772
General & administrative expenses 1,139,729 1,064,549
Net operating profit/(loss) (317,107) 250,223
Other expenses, net (86,657) (18,586)
Profit/(loss) before income taxes (403,764) 231,637
Income taxes
Net profit/(loss) $ (403,764) $ 231,637
Profit/(loss) per share    
Basic and diluted $ (0.01) $ 0.01
Shares used in computing profit/(loss) per share 47,300,500 46,883,687
Cash distributions declared per common share
v3.7.0.1
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating Activities    
Net profit/(loss) $ (403,764) $ 231,637
Adjustments to reconcile net loss to cash provided (used) by operating activities    
Depreciation expense 105,848 127,916
(Gain)/loss on disposal of assets (15,455)
Decrease (Increase) in:    
Contracts receivable 902,119 601,755
Other assets (94,929) (54,129)
Inventories 1,097 (12,232)
Cost and estimated earnings in excess of billings on uncompleted contracts (293,096) (711,881)
Increase (Decrease) in:    
Accounts payable (5,476) 9,517
Accrued liabilities (106,376) (7,363)
Billings in excess of costs and estimated earnings 211,022 (119,974)
Total Adjustments 720,209 (181,846)
Net cash provided (used) by operating activities 316,445 49,789
Investing Activities:    
Purchase of property and equipment (5,880)
Proceeds from disposal of equipment 35,000
Net cash provided (used) by investing activities 29,120
Financing Activities:    
New borrowings
Debt reduction
Non-related party (185,074) (112,601)
Related-party (172,531) (5,064)
Proceeds from issuance of common stock 10
Net cash provided (used) by financing activities (357,605) (117,655)
Net increase (decrease) in cash (41,160) (38,746)
Cash at beginning of period 46,812 229,882
Cash at end of period 5,652 191,136
Supplemental Disclosures    
Interest paid 88,289 35,964
Income taxes paid