v3.10.0.1

Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Current Assets
Cash and Cash Equivalents	$ 61,535	$ 34,956
Accounts Receivable, net of allowance for doubtful accounts	907,946	945,392
Prepaid Expenses	19,104	52,587
Total Current Assets	988,585	1,032,935
Property and Equipment, net of accumulated depreciation	1,608,350	1,710,917
Goodwill	1,422,670	1,422,670
Deposits	24,866	25,105
TOTAL ASSETS	4,044,471	4,191,627
Current Liabilities
Bank Overdraft	35,171	0
Accounts Payable	2,526,251	2,308,276
Accrued Liabilities	1,056,615	950,137
Current Portion of Capital Lease Obligations	136,580	143,501
Current Portion of Promissory Notes	251,721	287,523
Current Portion of Promissory Notes, Overdue	671,150	782,000
Current Portion of Royalty Financing	1,467,724	1,324,768
Current Portion of Convertible Notes	164,069	145,131
Current Portion of Convertible Notes, Overdue	2,101,056	2,086,000
Derivative Liability	116,803	0
Total Current Liabilities	8,527,140	8,027,336
Long Term Liabilities
Capital Lease Obligations, less current portion	73,767	103,735
Promissory Notes, less current portion, net of unamortized discounts	100,000	100,000
Royalty Financing, less current portion, net of unamortized discounts	1,071,393	1,108,015
Convertible Notes, less current portion, net of unamortized discounts	25,000	178,000
Total Liabilities	9,797,300	9,517,086
Commitments and Contingencies
Stockholders' Deficit
Preferred Stock	0	0
Common Stock	38,997	33,297
Additional Paid-In Capital	2,762,348	2,591,206
Accumulated Other Comprehensive Income	237,028	184,054
Accumulated Deficit	(8,791,202)	(8,134,016)
Total Stockholders' Deficit	(5,752,829)	(5,325,459)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 4,044,471	$ 4,191,627

Amount of outstanding current portion of convertible notes or borrowing associated with any securities or credit agreement for which there has been a default in principal, interest, sinking fund, or redemption provisions, or any breach of covenant that existed at the end of the period and subsequently has not been cured.

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MEDICAL IMAGING CORP. 10-Q