v3.2.0.727

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash	$ 481,191	$ 1,688,535
Cash – restricted	189,989	204,011
Marketable securities	55,921	80,878
Accounts receivable	1,552,685	1,302,255
Prepaid expenses	44,311	6,289
Contract advances, current portion	63,069	95,236
Total current assets	2,387,166	3,377,204
Fixed assets, net of accumulated depreciation of $319,959 and $312,410, respectively	110,990	118,539
Other assets:
Contract advances	76,042	81,500
Deposits	107,342	108,917
Total other assets	183,384	190,417
Total assets	2,681,540	3,686,160
Current liabilities:
Accounts payable	277,435	636,210
Accrued expenses	1,060,712	1,763,937
Investment obligation	0	690,000
Line of credit	0	200,000
Note payable, current portion	873,505	690,662
Contingent liabilities	195,000	195,000
Total current liabilities	2,406,652	4,175,809
Long term liabilities:
Note payable	223,887	20,644
Preferred series “B”, $0.001 par value, 2,000,000 shares authorized, 1,500,000 shares and zero shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively	300,000	0
Stockholders’ equity
Preferred series “A”, $0.001 par value, 1,000,000 shares authorized, zero shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively	0	0
Common stock, $0.001 par value, 100,000,000 shares authorized, 25,045,527 and 24,503,193 shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively	25,045	24,503
Common stock owed but not issued, 250,000 and 792,334 shares as of March 31, 2015 and December 31, 2014, respectively	250	792
Additional paid in capital	20,557,797	20,292,797
Other comprehensive losses	0	(15,672)
Accumulated (deficit)	(20,832,091)	(20,812,713)
Total stockholders’ equity	(248,999)	(510,293)
Total liabilities and stockholders’ equity	$ 2,681,540	$ 3,686,160

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

RUBICON FINANCIAL INC 10-Q