v3.5.0.2

Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash	$ 61,566
Notes receivable - current portion		56,200
Certificate and merchandise inventory	9,435	9,476
Other current assets	59,288	34,295
Total current assets	130,289	99,971
Property and equipment, net	49,926	92,933
Goodwill	390,985	390,985
Other assets	35,409	34,990
Total assets	606,609	618,879
Current liabilities:
Line of credit	25,737	26,592
Notes payable	407,468	227,442
Accounts payable	691,569	744,827
Accrued liabilities	472,595	501,332
Current portion - capitalized lease obligations	3,159	27,326
Current portion - deferred rent	2,362	2,362
Total current liabilities	1,602,890	1,529,881
Capitalized lease obligations, net of current portion	8,277	10,688
Deferred rent	36,587	34,091
Total liabilities	1,647,754	1,574,660
Commitments and contingencies
Series A convertible, redeemable preferred stock, $.001 par value, 5,000,000 shares authorized, 5,133 shares issued and outstanding; liquidation preference: $5,133,000	4,579,346	4,579,346
Shareholders' deficit:
Common stock, $.001 par value, 250,000,000 shares authorized, 111,988,914 issued, with 109,914,225 shares outstanding at September 30, 2016 and December 31, 2015	111,919	111,919
Additional paid-in capital	16,259,851	16,259,851
Treasury stock at cost (2,074,689 shares)	(100,000)	(100,000)
Accumulated deficit	(21,892,261)	(21,806,897)
Total shareholders' deficit	(5,620,491)	(5,535,127)
Total liabilities and shareholders' deficit	$ 606,609	$ 618,879

The aggregate of amounts due from customers or clients, within one year of the balance sheet date (or one operating cycle, if longer), for goods or services that have been delivered or sold in the normal course of business and an amount representing an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date within one year of the balance sheet, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection and net of any write-downs taken for collection uncertainty on the part of the holder, respectively.

SPEEDEMISSIONS INC 10-Q