Troika Media (TRKA) 10-Q/A 11 Dec 15 2015 Q2 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Dec. 07, 2015
Document And Entity Information
Entity Registrant Name	ROOMLINX INC
Entity Central Index Key	1,021,096
Document Period End Date	Jun. 30, 2015
Document Type	10-Q
Trading Symbol	rmlx
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Voluntary Filers	No
Entity Current Reporting Status	No
Entity Well-Known Seasoned Issuer	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		135,741,571
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash	$ 812,499	$ 2,510,800
Accounts receivable, net	1,723,762	$ 1,051,262
Leases receivable, current portion	369,199
Prepaid expenses and deferred cost	1,539,320	$ 581,518
Equipment purchased for resale	1,247,766	1,069,521
Other current assets	801,382	62,173
Total current assets	6,493,928	5,275,274
Property, equipment and software, net	519,151	446,256
Intangible assets, net	2,054,167	2,104,167
Goodwill	4,121,284	4,121,284
Security deposits	1,137,154	1,031,136
Other assets	1,300,459	1,008,519
Total assets	15,626,143	13,986,636
Current liabilities:
Accounts payable	10,633,293	$ 6,502,278
Line of credit, net of debt discount, current portion	1,632,896
Customer deposits	1,477,165
Current maturities of notes payable, related party	2,997,740	$ 832,030
Accrued expenses	1,875,534	912,061
Leases payable	3,077,223	$ 2,425,043
Notes payable and other obligations, current portion	1,140,034
Deferred revenue and customer prepayments	1,762,299	$ 756,463
Other current liabilities	485,094
Current liabilities of discontinued operations	3,254,934	$ 3,138,056
Total current liabilities	28,336,212	$ 14,565,931
Non-current liabilities
Line of credit, net of debt discount, less current portion	$ 2,032,315
Long-term portion of notes payable, related party		$ 2,067,601
Notes payable and other obligations, less current portion	$ 2,295
Non-current lease obligations	4,705,821	$ 5,040,948
Other non-current liabilities	4,907
Nonconvertible Series A prefered stock, related party	10	$ 10
Total non-current liabilities	6,745,348	7,108,559
Total liabilities	$ 35,081,560	$ 21,674,490
Commitments and contingencies
Roomlinx, Inc. stockholders' deficit
Preferred stock, par value $0.20 per share, 5,000,000 shares authorized: Class A - 720,000 and nil shares authorized, issued and outstanding (liquidation preference of $144,000 at June 30, 2015 and December 31, 2014)	$ 144,000
Preferred stock, par value $0.01 per share, 10,000,000 shares authorized and 1,010 shares designated and outstanding at June 30, 2015 and December 31, 2014
Series A preferred stock, par value $0.01 per share, 1,000 shares designated, 1,000 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively
Series B preferred stock, par value $0.01 per share, 10 shares designated, 10 shares issued and outstanding at June 30, 2015 and December 31, 2014
Common stock, par value $0.001 per share, 400,000,000 shares authorized, 135,040,720 and 115,282,137 shares issued and outstanding at June 30, 2015, and December 31, 2014, respectively	$ 135,040	$ 115,282
Additional paid-in capital	91,105,732	45,179,249
Accumulated deficit	(110,831,065)	$ (52,982,385)
Accumulated other comprehensive loss	(6,374)
Total Roomlinx, Inc. shareholders' deficit	(19,452,667)	$ (7,687,854)
Non-controlling interest	(2,750)
Total deficit	(19,455,417)	$ (7,687,854)
Total liabilities and Deficit	$ 15,626,143	$ 13,986,636

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Preferred stock, par value	$ 0.20	$ 0.20
Preferred stock, shares authorized	5,000,000	5,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	135,040,720	115,282,137
Common stock, shares outstanding	135,040,720	115,282,137
Class A Preferred Stock
Preferred stock, shares authorized	720,000	0
Preferred stock, shares issued	720,000	0
Preferred stock, shares outstanding	720,000	0
Preferred stock, liquidation preference	$ 144,000	$ 144,000
Series A preferred stock
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares issued	1,000	1,000
Preferred stock, shares outstanding	1,000	1,000
Preferred stock, designated	1,000	1,000
Series B preferred stock
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares issued	10	10
Preferred stock, shares outstanding	10	10
Preferred stock, designated	10	10
Preferred stock
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares outstanding	1,010	1,010
Preferred stock, designated	1,010	1,010

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Consolidated Statements Of Operations
Revenues	$ 5,651,595	$ 3,358,348	$ 8,854,456	$ 6,483,662
Cost of sales, excluding depreciation and amortization which is included in selling, general and administrative expense	3,972,690	2,304,502	6,780,844	4,596,484
Gross margin	1,678,905	1,053,846	2,073,612	1,887,178
Operating expenses:
Selling, general and administrative expense	$ 9,862,111	$ 2,733,744	15,820,838	$ 5,219,348
Impairment of goodwill			42,847,066
Total operating Expenses	$ 9,862,111	$ 2,733,744	58,667,904	$ 5,219,348
Operating loss	(8,183,206)	(1,679,898)	(56,594,292)	(3,332,170)
Other (expense) income
Interest expense, net	(691,711)	(133,587)	(1,149,316)	(664,651)
Other income, net	36,540	73,543	67,178	109,789
Total other (expense) income	(655,171)	(60,044)	(1,082,138)	(554,862)
Loss from continuing operations before income taxes	$ (8,838,377)	$ (1,739,942)	(57,676,430)	(3,887,032)
Income tax expense (benefit)
Loss from continuing operations	$ (8,838,377)	$ (1,739,942)	$ (57,676,430)	(3,887,032)
Loss from discontinued operations, net of tax		(3,212)		(81,122)
Net loss	$ (8,838,377)	$ (1,743,154)	$ (57,676,430)	$ (3,968,154)
Net loss attributable to the non-controlling interest	2,418		2,750
Net loss attributable to the Company	(8,835,959)	$ (1,743,154)	(57,673,680)	$ (3,968,154)
Other comprehensive (loss) income
Currency translation (loss) gain	(6,374)		(6,374)
Comprehensive loss	(8,842,333)	$ (1,743,154)	(57,680,054)	$ (3,968,154)
Less: Dividends on preferred stock	25,000	150,000	175,000	300,000
Net loss attributable to common shareholders	$ (8,867,333)	$ (1,893,154)	$ (57,855,054)	$ (4,268,154)
Loss per share
Basic and diluted loss per common share from Continuing operations, attributable to commons shareholders	$ (0.07)	$ (0.02)	$ (0.46)	$ (0.03)
Basic and diluted loss per common share from Discontinued operations, attributable to commons shareholders		0		0
Net loss attributable to common shareholders	$ (0.07)	$ (0.02)	$ (0.46)	$ (0.03)
Weighted average number of common shares outstanding
Basic and diluted	135,040,756	114,282,138	125,652,685	111,972,300

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN DEFICIT (unaudited) - 6 months ended Jun. 30, 2015 - USD ($)	Class A Preferred Stock	Series A preferred stock	Series B preferred stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Comprehensive Income / Loss	Non-controlling Interest [Member]	Total
Beginning balance, Amount at Dec. 31, 2014				$ 115,282	$ 45,179,249	$ (52,982,385)			$ (7,687,854)
Beginning balance, Shares at Dec. 31, 2014		1,000	10	115,282,137
Shares retained by Roomlinx' shareholders in connection with the shares exchange merger transaction, Amount	$ 144,000			$ 19,758	$ 35,545,756				35,709,514
Shares retained by Roomlinx' shareholders in connection with the shares exchange merger transaction, Shares	720,000			19,758,619
Preferred stock dividends of Series A						$ (175,000)			(175,000)
Contributed capital from a shareholder					$ 571,004				571,004
Stock based compensation					9,365,441				9,365,441
Warrants issued to lenders					$ 444,282				$ 444,282
Effect of rounding, Amount
Effect of rounding, Shares				(36)
Foreign currency translation loss							$ (6,374)		$ (6,374)
Net loss						$ (57,673,680)		$ (2,750)	(57,676,430)
Ending balance, Amount at Jun. 30, 2015	$ 144,000			$ 135,040	$ 91,105,732	$ (110,831,065)	$ (6,374)	$ (2,750)	$ (19,455,417)
Ending balance, Shares at Jun. 30, 2015	720,000	1,000	10	135,040,720

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flow from operating activities:
Net loss	$ (57,676,430)	$ (3,968,154)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	76,703	78,469
Amortization of debt discount and deferred financing costs	162,132	140,138
Amortization of intangible asset	50,000	50,000
Bad debt expense	$ 102,921	35,434
Gain on sale of assets		$ (44,250)
Stock-based compensation	$ 9,365,441
Impairment of goodwill	42,847,066
Non-cash expenses	$ 15,469
Loss from discontinued operations		$ 81,122
Change in operating assets and liabilities:
Decrease (increase) in accounts receivable	$ (166,141)	(472,297)
Increase in prepaid expenses and other current assets	(1,229,228)	(519,116)
Decrease in other assets	118,414	18,422
Increase in accounts payable and accrued expenses	820,575	144,994
Increase in deferred revenue and customer prepayments	946,338	1,142,114
Cash used in discontinued operations, net	(695)	(317,064)
Net cash used in operating activities:	(4,567,435)	$ (3,630,188)
Cash flows from investing activities:
Cash acquired from the reverse acquisition	$ 812,756
Proceeds on sale of assets		$ 45,000
Payment of software development costs		(18,587)
Purchase of machinery and equipment		(12,056)
Net cash provided by (used in) investing activities	$ 812,756	14,357
Cash flows from financing activities:
Contributed capital from principal shareholder	571,004	$ 5,583,500
Payment of line of credit	(33,000)
Payment of related party loans	(392,659)	$ (135,377)
Proceeds from notes payable - related party	520,000	$ (282,661)
Proceeds from notes payable	1,359,194
Proceeds from capital lease transactions, net	213,213	$ 649,853
Payment of Series A preferred stock dividend	(175,000)	(300,000)
Net cash provided by financing activities	2,062,752	$ 5,515,315
Effect of foreign exchange fluctuation in cash	(6,374)
Net (decrease) increase in cash	(1,698,301)	$ 1,899,484
Cash, beginning of period	2,510,800	152,520
Cash, end of period	812,499	2,052,004
Supplementary disclosure of of cash flow information
Cash paid during the period for Interest	$ 828,150	$ 435,760
Cash paid during the period for Income taxes
Supplemental disclosure of non-cash investing and financing activities:
Commons stock issued in connection with the merger	$ 35,565,514
Fixed assets purchased under capital lease obligation	$ 59,925	$ 88,000
Equipment purchased under financed lease payable for resale		757,114
Repayment of capital leases payable made by customer	$ 54,989	99,146
Conversion of the Robert DePalo Special Opportunity Fund debt into equity		3,053,121
Conversion of the Brookville Special Purpose fund debt into equity		3,098,416
Conversion of the Veritas High Yield Fund debt into equity		774,073
Software development capitalized cost against accounts payable balance	$ 39,058	117,465
Equipment purchased against accounts payable balance	10,866	$ 1,203,985
Equipment purchased for resale against accounts payable balance	178,245
Class A Preferred Stock assumed in connection with the reverse acquisition	144,000
Repayment of notes payable made directly by customer	328,598
Warrants issued to lenders	$ 444,282

Organization

Organization	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 1. Organization	Description of Business - Merger - SPHC is comprised of its wholly owned subsidiaries; Signal Point Telecommunication Corp (“SPTC”), SignalShare LLC (“SignalShare”), SignalShare Software Development Corp. (“SignalShare Software”) and Signal Point Corp. (“SPC”) (see “discontinued operations” Note 6) SignalShare Infrastructure, Inc. (“SSI”) is comprised of its wholly owned subsidiaries Canadian Communications LLC (“CCL”), Cardinal Connect, LLC (“Connect”), Cardinal Broadband, LLC (“CBL”), and Arista Communications, LLC (“Arista”), a 50% owned subsidiary controlled by SSI and Cardinal Hospitality, Ltd. (“CHL”) (see “discontinued operations” Note 6). The Company is registered to transact businesses within various states throughout the United States.

Reverse Acquisition

Reverse Acquisition	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 2. Reverse Acquisition	On March 27, 2015, the Company entered into and completed a Subsidiary Merger Agreement (“SMA”) (more fully discussed in note 16) with SPHC (a private company). Upon closing of the transaction, SPHC’s Shareholders transferred their 100% ownership in SPHC’s common stock and Series A Preferred Stock in exchange for an aggregate of 115,282,137 shares of the common stock of RMLX (approximately 85.4% of voting control of RMLX) for one to one basis plus the assumption of the Class A Preferred Stock of RMLX. As part of the agreement, RMLX's existing shareholders retained 19,758,619 shares of the Company’s Common Stock and 720,000 shares of class A Preferred Stock (representing approximately 14.6% of voting control of RMLX upon consummation of the reverse acquisition) in exchange for 100% of SPHC common stock and Series A Preferred Stock. For financial accounting purposes, this transaction was treated as a reverse acquisition by SPHC, and resulted in a recapitalization with SPHC being the accounting acquirer and RMLX as the acquired company. The consummation of this reverse acquisition resulted in a change of control. Accordingly, the historical financial statements prior to the acquisition are those of the accounting acquirer, SPHC and have been prepared to give retroactive effect to the reverse acquisition completed on March 27, 2015, and represent the operations of SPHC. The consolidated financial statements after the acquisition date, March 27, 2015 include the balance sheets of both companies at historical cost, the historical results of SPHC and the results of the Company from the acquisition date. All share and per share information in the accompanying consolidated financial statements and footnotes has been retroactively restated to reflect the recapitalization. The following table summarizes the assets acquired and liabilities assumed from the reverse acquisition transaction: Property and equipment $ 78,807 Cash in bank 812,756 Account receivable 856,282 Leases receivable 575,471 Prepaid expenses 151,604 Inventory 129,665 Other assets 83,215 Current liabilities (5,922,133 ) Debt (3,640,839 ) Liabilities of discontinued operations (117,573 ) Other liabilities (144,807 ) Class A preferred stock (144,000 ) Goodwill 42,847,066 Total $ 35,565,514 The fair value of the consideration effectively transferred by SPHC and the group’s interest in RMLX is $35,565,514 (19,758,619 shares, the remaining 14.6% of ownership with a per share fair value of $1.80). Management of the Company followed the guidance of the reverse acquisitions on fair value of the consideration transferred pursuant to ASC 805-40-55-9 to 55-12 and concluded that SPHC’s per share fair value of $1.80 is deemed the most reliable measure.

Going Concern Matters

Going Concern Matters	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 3. Going Concern Matters	At June 30, 2015, the Company had approximately $812,000 in cash on hand, had incurred a net loss of approximately $57.7 million (including the impairment of goodwill of approximately $42.8 million) and used approximately $4.5 million in cash for operating activities for the six months ended June 30, 2015. In addition, the Company had negative working capital (current liabilities exceeded current asset) of approximately $21.8 million. The negative working capital was primarily comprised of approximately $10.6 million of accounts payable, approximately $1.7 million of deferred revenue and customer prepayment, approximately $5.7 million of debt and approximately $3.3 million of current liabilities of discontinued operations that is substantially all related to accounts payable. The Company’s cash balance and revenues generated are not currently sufficient and cannot be projected to cover operating expenses for the next twelve months from the date of this report. These matters raise substantial doubt about the Company’s ability to continue as a going concern. Management's plans include attempting to improve its business profitability, its ability to generate sufficient cash flow from its operations to meet its operating needs on a timely basis, obtain additional working capital funds through equity and debt financing arrangements, and restructure on-going operations to eliminate inefficiencies to raise cash balance in order to meet its anticipated cash requirements for the next twelve months from the date of this report. However, there can be no assurance that these plans and arrangements will be sufficient to fund the Company’s ongoing capital expenditures, working capital, and other requirements. Management intends to make every effort to identify and develop sources of funds. The outcome of these matters cannot be predicted at this time. There can be no assurance that any additional financings will be available to the Company on satisfactory terms and conditions, if at all. The ability of the Company to continue as a going concern is dependent upon its ability to raise additional capital and continue profitable operations. The accompanying unaudited condensed consolidated financial statements do not include any adjustments related to the recoverability or classification of asset-carrying amounts or the amounts and classification of liabilities that may result should the Company be unable to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies and Principles of Consolidation	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 4. Summary of Significant Accounting Policies and Principles of Consolidation	These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) for interim financial reporting and the applicable rules and regulations of the Securities and Exchange Commission (“SEC”) and include Roomlinx, Inc. and its wholly-owned subsidiaries, SPHC and SSI. SPHC consists of its wholly-owned subsidiaries, SPTC, SignalShare, SignalShare Software and SPC. SSI consists of its wholly-owned subsidiaries CCL, Connect, CBL, CHL, and 50% owned subsidiary of Arista. CCL and Connect are non-operating entities. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in quarterly financial statements prepared in accordance with US GAAP have been condensed or omitted pursuant to those rules and regulations. Therefore, these interim unaudited condensed financial statements should be read in conjunction with SPHC’s, the accounting acquirer’s December 31, 2014 audited consolidated financial statements and related notes. In the opinion of the Company’s management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the Company’s results of operations, financial position and cash flows have been included. The results for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the full year. The December 31, 2014 condensed consolidated balance sheet data was derived from the December 31, 2014 audited financial statements, but does not include all disclosures required by US GAAP. Discontinued Operations SPC operated in the communications services industry providing voice, data, and Internet services through residential and commercial telephone service, Voice over Internet Protocol (“VoIP”) enabled services, prepaid and post-paid calling cards, conference calling, and wholesale carrier terminations. It was a registered and certified competitive local exchange carrier (“CLEC”) providing local exchange services primarily in the New England region, and was also a licensed and registered interexchange carrier (“IXC”) or “long distance” carrier, providing domestic and international long distance services. SPC marketed its services to customers either directly or through reseller channels. During the year ended December 31, 2013, SSI terminated all hotel contracts serviced by Cardinal Hospitality, Ltd. (see Note 4) meeting the definition under applicable accounting standards for discontinued operations. The liabilities assumed in connection with the reverse acquisition included $117,573 related to Cardinal Hospitalility, Ltd., which has been included in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2015 under the line item of “Current liabilities of discontinued operations”. Reclassification - Use of estimates - Cash and Cash Equivalents - Accounts Receivable and Allowance for Doubtful Accounts - The Company evaluated outstanding customer invoices for collectability. The assessment and related estimates are based on current credit-worthiness and payment history. As of June 30, 2015 and December 31, 2014, the Company recorded an allowance for doubtful accounts in the amount of approximately $71,000 and $-0-, respectively. Inventory - The Company performs an analysis of slow-moving or obsolete inventory periodically, and any necessary valuation reserves, which could potentially be significant, are included in the period in which the evaluations are completed. As of June 30, 2015 and December 31, 2014, the inventory obsolescence reserve of $120,000 and $-0-, respectively, was mainly related to raw materials, and results in a new cost basis for accounting purposes. Leases Receivable Property, equipment, and software Telephone equipment 5 – 9.5 years Machinery and equipment 3 – 10 years Furniture and fixtures 5 – 7 years Vehicles 4 – 5 years Leasehold improvements 3 years Computer software 3 years Leasehold improvements are depreciated over the shorter of their estimated useful lives or their reasonably assured lease terms. Major improvements that extend the useful life or add functionality to property are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. At the time of retirement or other disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any gains or losses are reflected in the consolidated statements of operations. The Company performs periodic internal reviews to determine depreciable lives of its property, equipment and software based on input from Company personnel, actual usage and the physical condition of the Company’s property, equipment and software. Software Development - Accounts Payable Claims and Disputes - Revenue Recognition - Monthly recurring fees include the fees paid by SPTC’s network and carrier services customers for lines in service and additional features on those lines. SPTC primarily bills monthly recurring fees in advance, and recognizes the fees in the period in which the service is provided. Usage-based fees consist of fees paid by SPTC’s network and carrier services customers for each call made. These fees are billed in arrears and recognized in the period in which the service is provided. Subscriber fees include monthly recurring fees paid by SPTC’s end-user subscribers for lines in service, additional features on those lines, and usage-based per-call and per-minute fees. Subscriber fees also consist of provision of access to data, wireless, and VoIP services. These fees are billed in advance for monthly recurring items and in arrears for usage-based items, and revenues are recognized in the period in which service is provided. SignalShare product sales are only recognized as revenue at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery or service is completed, no other significant obligations of the Company exist and collectability is reasonably assured. SPTC and SignalShare also recognize revenue on the basis of the milestone method for revenue recognition for services delivered related to the installation of temporary or permanent wireless Internet solutions as per the contract arrangement and when the performance and acceptance criteria have been met and agreed to by the customer. Revenue arises from setting up a Wi-Fi network for an event, an equipment sales contract, an equipment rental contract, consulting services and support and maintenance contracts. The table below describes the accounting for the various components of SignalShare’s revenues. Product Recognition Policy Event Services (Setting up a Wi-Fi network) Workshops and Workshop Certificates Deferred and recognized upon the completion of the event Equipment sales Recognized at the time delivered and installed at the customer location Equipment rental contract Deferred and recognized as services are delivered, or on a straight-line basis over the initial term of the rental contract Consulting services (on Wi-Fi networks, installation, maintenance) Recognized as services are delivered Support and Maintenance contract Deferred and recognized on a straight-line basis over the term of the arrangement SSI derives its revenue from the installation and ongoing services of in-room media, entertainment, and HD television programming solutions in addition to wired networking solutions and WiFi Fidelity networking solutions. Revenue is recognized when all applicable recognition criteria have been met, which generally include a) persuasive evidence of an existing arrangement; b) fixed or determinable price; c) delivery has occurred or service has been rendered and; d) collectability of the sales price is reasonably assured. Installations and service arrangements are contractually predetermined and such contractual arrangements may provide for multiple deliverables, revenue is recognized in accordance with ASC Topic 650, Multiple Deliverable Revenue. The application of ASC Topic 650 may result in the deferral of revenue recognition for installations across the service period of the contract and the re-allocation and/or deferral of revenue recognition across various service arrangements. Below is a summary of such application of the revenue recognition policy as it relates to installation and service arrangements SSI has with its customers. SSI enters into contractual arrangements to provide multiple deliverables which may include some or all of the following - system installations and a variety of services related to high speed internet access, free-to-guest, video on demand and iTV systems as well as residential phone, internet and television. Each of these elements must be identified and individually evaluated for separation. The term “element” is used interchangeably with the term “deliverable” and SSI considers the facts and circumstances as it relates to its performance obligations in the arrangement and includes product and service elements, a license or right to use an asset, and other obligations negotiated for and assumed in the agreement. Analyzing an arrangement to identify all of the elements requires the use of judgment. In the determination of the elements included in Roomlinx agreements, embedded software and inconsequential or perfunctory activities were taken into consideration. Once the Deliverables have been identified, we determine the relative fair value of each element under the concept of Relative Selling Price (“RSP”) for which SSI applied the hierarchy of selling price under ASC Topic 605 as follows: VSOE - Vendor specific objective evidence (“VSOE”) is still the most preferred criteria with which to establish fair value of a deliverable. VSOE is the price of a deliverable when a company sells it on an open market separately from a bundled transaction. TPE - Third party evidence (“TPE”) is the second most preferred criteria with which to establish fair value of a deliverable. The measure for the pricing of this criterion is the price that a competitor or other third party sells a similar deliverable in a similar transaction or situation. RSP - RSP is the price that management would use for a deliverable if the item were sold separately on a regular basis which is consistent with company selling practices. The clear distinction between RSP and VSOE is that under VSOE, management must sell or intend to sell the deliverable separately from the bundle, or has sold the deliverable separately from the bundle already. With RSP, a company may have no plan to sell the deliverable on a stand-alone basis. Hospitality Installation Revenues Hospitality installations include High Speed Internet Access (“HSIA”), Interactive Television (“iTV”), Free to Guest (“FTG”) and Video on Demand (“VOD”). Under the terms of these typical product sales and equipment installation contracts, a 50% deposit is due at the time of contract execution and is recorded as deferred revenue. Upon the completion of the installation process, deferred revenue is realized. However, in some cases related to VOD installations or upgrades, the Company extends credit to customers and records a receivable against the revenue recognized at the completion of the installation. Additionally, SSI may provide the customer with a lease financing arrangement provided the customer has demonstrated its credit worthiness to the satisfaction of SSI. Under the terms and conditions of the lease arrangements, these leases have been classified and recorded as Sale-Type Leases under ASC Topic 840-30 and accordingly, revenue is recognized upon completion and customer acceptance of the installation which gives rise to a lease receivable and unearned income. Hospitality Service, Content and Usage Revenues SSI provides ongoing 24/7 support to both its hotel customers and their guests, content and maintenance as applicable to those products purchased, installed and serviced under contract. Generally, support is invoiced in arrears on a monthly basis with content and usage, which are dependent on guest take rates and buying habits. Service maintenance and usage revenue also includes revenue from meeting room services, which are billed as the events occur. At times, SSI will enter into arrangements with its customers in which a minimum revenue amount earned from content in a specific hotel will be agreed to by both parties. If the revenue earned by the Company exceeds this minimum revenue amount for a defined period (“Revenue Overage”), SSI may be required to pay to the customer an amount up to the Revenue Overage. The related Revenue Overage amount is recorded as a reduction of the hospitality services revenue. Residential Revenues Residential revenues consist of equipment sales and installation charges, support and maintenance of voice, internet, and television services, and content provider residuals, installation commissions, and management fees. Installations charges are added to the monthly service fee for voice, internet, and television, which is invoiced in advance creating deferred revenue to be realized in the appropriate period. SSI’s policy prohibits the issuance of customer credits during the month of cancelation. SSI earns residuals as a percent of monthly customer service charges and a flat rate for each new customer sign up. Residuals are recorded monthly. Commissions and management fees are variable and therefore revenue is recognized at the time of payment. The Company recognizes revenue in accordance with accounting principles generally accepted in the United States (“US GAAP”), specifically Accounting Standards Codification (“ASC”) 605 “Revenue Recognition,” which requires satisfaction of the following four basic criteria before revenue can be recognized: a. There is persuasive evidence that an arrangement exists; b. Delivery has occurred or services have been rendered; c. The fee is fixed and determinable; and d. Collectability is reasonably assured. The Company bases its determination of the third and fourth criteria above on the Company’s judgment regarding the fixed nature of the fee it has charged for the services rendered and products delivered, and the prospects that those fees will be collected. If changes in conditions should cause it to determine that these criteria likely will not be met for some future transactions, revenue recognized for any reporting period could be materially adversely affected. Company management continually reviews and evaluates the collectability of revenues. For further information, please see “Accounts Receivable and Allowance for Doubtful Accounts.” The Company’s management makes estimates of future customer credits and settlements due to various disputes on pricing and other terms of the contracts, through the analysis of historical trends and known events. Provisions for customer credits and settlements are recorded as a reduction of revenue when incurred and estimable. Since any revenue allowances are recorded as an offset to revenue, any future increases or decreases in the allowances will positively or negatively affect revenue by the same amount. Deferred Revenue and Customer Prepayments - SignalShare, from time to time, enters into leasing transactions to finance certain customer projects. In these leasing transactions, SignalShare receives payment from the third-party leasing company and uses the cash received to fund the project. All revenues related to these types of projects are deferred until the project is completed and the customer has approved the installation. At that time, SignalShare records the revenue previously deferred as it has no further obligation to the customer and the earnings process is complete. As of June 30, 2015 and December 31, 2014, SignalShare recorded $632,219 and $737, respectively, in deferred revenue and $892,627 and $398,732, respectively, in prepaid expenses for incomplete customer projects. Advertising Costs - Prepaid Expenses and Other Current Assets - Cost of sales - Judgment is required in estimating the ultimate outcome of the dispute resolution process, as well as any other amounts that may be incurred to conclude the negotiations or settle any litigation. Actual results may differ from estimates and such differences could be material. Selling, General and Administrative Expenses - Concentration of Credit Risk - Concentrations Goodwill - The Company assesses the carrying value of its goodwill at December 31 of each fiscal year. In accordance with the Intangibles - Goodwill and Other Topic, goodwill of a reporting unit will also be tested for impairment between annual tests if a triggering event occurs, as defined by the “Intangibles – Goodwill and Other Topic,” that could potentially reduce the fair value of the reporting unit below its carrying value. Testing for impairment of goodwill per US GAAP follows a two-step impairment test model and, an additional, initial qualitative assessment related to goodwill impairment. In accordance with the relevant accounting standards, the Company has chosen not to implement this initial qualitative assessment in making its impairment decision with respect to goodwill recorded in its accounts and has proceeded directly to step 1 as explained below: Step 1. The carrying amount of the asset is compared with the undiscounted cash flows it is expected to generate. If the carrying amount is lower than the undiscounted cash flows, no impairment loss is recognized and Step 2 is not necessary. If the carrying amount is higher than the undiscounted cash flows, then Step 2 quantifies the impairment loss. Step 2. An impairment loss is measured as the difference between the carrying amount and fair value. Fair value is defined as the price that would be received to sell an asset or that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company determined that at March 31, 2015 the goodwill created through the Company’s reverse acquisition in connection with the SMA could not be supported through the projected future cash flows of the Company. Accordingly, the Company determined that the goodwill arising from the March 27, 2015 reverse acquisition transaction was impaired and an impairment charge of $42,847,066 was included in the operating loss during the six months ended June 30, 2015. Impairment of Long Lived Assets There has been no indication since then that the fair value of that property, plant and equipment has declined. Other Assets - Fair Value of Financial Instruments - Level 1 — Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2 — Inputs are quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3 — Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The carrying amounts reported in the consolidated balance sheets for cash, accounts receivable, prepaid expenses, other current assets, accounts payable, accrued expenses, loans payable, deferred revenue and other current liabilities approximate their fair market value based on the short term maturity of these instruments. ASC 825-10 “Financial Instruments,” allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding financial instruments. Foreign Currency Translation and Comprehensive Income (Loss) - Foreign currency gains and losses from transactions denominated in other than respective local currencies are included in other income (expense) in the consolidated statements of operations and comprehensive loss. Noncontrolling Interest - Earnings Per Share - Income Taxes - The Company applied the provisions of ASC 740-10-50, “Accounting for Uncertainty in Income Taxes,” which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. As of June 30, 2015, the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future. Legal and Contingency Reserves Recent Accounting Pronouncements ASU 2015-15 In August 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) 2015-15, “Interest - Imputation of Interest (Subtopic 835-30).” ASU 2015-15 provides guidance as to the presentation and subsequent measurement of debt issuance costs associated with line of credit arrangements. We do not expect the adoption of ASU 2015-15 to have a material effect on our financial position, results of operations or cash flows. ASU 2015-14 In August 2015, the FASB issued ASU No. 2015-14, Revenue From Contracts With Customers (Topic 606)." The amendments in this ASU defer the effective date of ASU 2014-09. Public business entities should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. We are still evaluating the effect of the adoption of ASU 2014-09. ASU 2015-11 In July 2015, the FASB issued ASU No. 2015-11, "Simplifying the Measurement of Inventory (Topic 330)." ASU 2015-11 simplifies the accounting for the valuation of all inventory not accounted for using the last-in, first-out ("LIFO") method by prescribing that inventory be valued at the lower of cost and net realizable value. ASU 2015-11 is effective for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016 on a prospective basis. We do not expect the adoption of ASU 2015-11 to have a material effect on our financial position, results of operations or cash flows. ASU 2015-05 In April 2015, the FASB issued ASU 2015-05, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40)." ASU 2015-05 provides guidance regarding the accounting for a customer's fees paid in a cloud computing arrangement; specifically about whether a cloud computing arrangement includes a software license, and if so, how to account for the software license. ASU 2015-05 is effective for public companies' annual periods, including interim periods within those fiscal years, beginning after December 15, 2015 on either a prospective or retrospective basis. Early adoption is permitted. We do not expect the adoption of ASU 2015-05 to have a material effect on our financial position, results of operations or cash flows. ASU 2015-03 In April 2015, the FASB issued ASU No. 2015-03, "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs." The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The amendments are effective for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. The amendments are to be applied on a retrospective basis, wherein the balance sheet of each individual period presented is adjusted to reflect the period-specific effects of applying the new guidance. We do not expect the adoption of ASU 2015-03 to have a material effect on our financial position, results of operations or cash flows. There were various other updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to a have a material impact on the Company’s financial position, results of operations or cash flows.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 5. Acquisitions	Acquisition of Assets of Incubite, Inc. – Holdings paid consideration to the members of Incubite of $1,800,000 comprised of 1,000,000 shares of Common Stock of Holdings issued to the Incubite Members at the Closing. The following table summarizes the recognized amounts of assets acquired. Identifiable intangible assets. $ 1,800,000 Total consideration $ 1,800,000

The Shutdown of SPC and CHL and

The Shutdown of SPC and CHL and their Presentation as Discontinued Operations	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 6. The Shutdown of SPC and CHL and their Presentation as Discontinued Operations	Shutdown of SPC On June 30, 2013, SPHC closed down the operations of SPC. This decision was made as a result of a continuing decline in revenues, increasing costs and Federal and state regulatory environment that continued to pressure margins in the SPC businesses. As a result of the decision to shut down SPC, all applicable employees were terminated, as were leases for facilities and office space. Shutdown of CHL On December 20, 2013, SSI closed down the operations of CHL. This decision was made as a result of a continuing decline in revenues SSI’s decision to not invest in upgrading old technology and the hotels not willing to purchase newer technology. Discontinued Operations Presentation As disclosed above, SPC was closed on June 30, 2013 and all operations at that subsidiary ceased and CHL was closed on December 20, 2013 and all operations at that subsidiary ceased. Therefore, at June 30, 2015 and December 31, 2014, these subsidiaries are presented in the condensed consolidated financial statements as discontinued operations and their financial results are summarized as one-line items in the consolidated financial statements. The primary components of the amounts reported as discontinued operations are summarized in the following table. Loss from Discontinued Operations (unaudited) For the three months ended June 30, 2015 2014 Revenues $ - $ - Cost of sales - - Gross profit - - Selling, general and administrative expenses - 3,212 Other expenses. - - Other income. - - Loss from discontinued operations before income taxes - (3,212 ) Income taxes. - - Loss from discontinued operations, net of tax. $ - $ (3,212 ) For the six months ended June 30, 2015 2014 Revenues $ - $ - Cost of sales - - Gross profit - - Selling, general and administrative expenses - 81,122 Other expenses. - - Other income. - - Loss from discontinued operations before income taxes - (81,122 ) Income taxes. - - Loss from discontinued operations, net of tax. $ - $ (81,122 ) Assets and Liabilities of Discontinued Operations Balance at June 30, 2015 December 31, 2014 (unaudited) Assets Cash $ - $ - Total current assets - - Other assets - - Total assets of discontinued operations $ - $ - Liabilities Accounts payable and accrued expenses $ 3,254,934 $ 3,138,056 Other liabilities - - Total liabilities of discontinued operations $ 3,254,934 $ 3,138,056 Accounts payable and accrued expenses of discontinued operations as of June 30, 2015 included $117,573 assumed from CHL in connection with the reverse acquisition transaction completed on March 27, 2014.

Leases Receivable

Leases Receivable	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 7. Leases Receivable	As of June 30, 2015, the Company had approximately $500,904 in leases. These leases have terms of 60 months and an average interest rate of 9.5%. The Company did not enter into any new leases in the six months ended June 30, 2015. The long term portion in included in other assets. Future minimum receipts on leases receivable are as follows: Years Ended June 30, Minimum Receipts 2016 $ 369,199 2017 126,707 2018 4,998 $ 500,904

Property, Equipment and Softwar

Property, Equipment and Software, net	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 8. Property, Equipment and Software, net	Property, equipment and software consist of the following: Balance at June 30, 2015 December 31, 2014 (unaudited) Property, Equipment and Software Machinery and equipment $ 6,037,319 $ 5,146,279 Equipment offsite 121,808 121,808 Furniture, fixtures and equipment 773,750 145,154 Software. 279,502 127,060 Trucks and autos 36,040 36,040 Total property, equipment and software 7,248,419 5,576,341 Less: accumulated depreciation (6,729,268 ) (5,130,085 ) Property, equipment and software, net $ 519,151 $ 446,256 Depreciation and amortization expense was $54,690 and $33,527 for the three months ended June 30, 2015 and 2014, respectively and $76,703 and $78,469 for the six months ended June 30, 2015 and 2014, respectively. Depreciation and amortization expense for all periods was included in the selling, general and administrative expense caption in the accompanying consolidated statements of operations.

Capital Lease Obligations

Capital Lease Obligations	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 9. Capital Lease Obligations	The Company had several capital lease obligations. Property under those capital lease obligations (included in property, equipment and software) at June 30, 2015 and December 31, 2014 consist of the following: June 30, 2015 December 31, 2014 (unaudited) Capital Lease Property Machinery & equipment $ 550,278 $ 564,228 Software 125,587 125, 587 Less: Accumulated depreciation (238,402 ) (274,815 ) Net capital lease property $ 437,463 $ 415,000 Depreciation and amortization expense of leased property under capital lease obligations amounted to $19,230 and $18,231 for the three months ended June 30, 2015 and 2014, respectively and $37,461 and $28,019 for the six months ended June 30, 2015 and 2014, respectively. SignalShare Lease Transactions - Capital Future minimum lease obligations under the capital leases consist of the following at June 30: Year Amount 2016 $ 3,712,391 2017 3,574,375 2018 1,441,792 2019 7,379 Total 8,735,937 Less – amounts representing interest (1,222,147 ) Present value of net minimum lease payments 7,513,790 Less: Current portion (2,937,889 ) Net long-term portion $ 4,575,901 SignalShare Lease Transactions – Finances SignalShare finances certain sales to customers through a third-party leasing company on their behalf. Once the equipment installation is complete, SignalShare recognizes the revenues and costs related to these transactions. Payments to the third-party leasing company are made directly by SignalShare’s customer and, if applicable, the customer has the option to purchase the equipment at the end of the lease for an additional payment. At the inception of the lease, the third-party leasing company remits cash to SignalShare in an amount equal to the amount of the lease, less finance costs to be collected over the lease term. SignalShare purchases the equipment and completes the installation. The equipment is immediately expensed, as are the costs of the installation and the finance component of the lease is charged to cost of goods sold. Thus all of the revenue and costs are recorded immediately upon completion of the installation. SignalShare is the lessee and is ultimately responsible for the payments under the lease. Since the equipment is installed on the customer’s property, the customer controls the equipment and the ultimate decision with regard to purchasing the equipment at the end of the lease term, SignalShare records an accounts receivable and a lease liability in its accounting books and records. The accounts receivable and lease liability are offset each month as the customer makes payments directly to the third-party leasing company. Where leases extend beyond twelve months, the related accounts receivable and payable are discounted at the imputed interest rate in the lease. In effect, SignalShare is a guarantor of the lease in the event that its customer does not make the required lease payments. Since the inception of this program in mid-2013, SignalShare has not had to make any lease payments on behalf of any customer. The lease related accounts receivable and the lease obligations, together with the balance sheet caption that contains each amount are as follows: Balance at June 30, 2015 December 31, 2014 (unaudited) Lease accounts receivable Current portion (accounts receivable) $ 139,334 $ 149,507 Long-term portion (other assets) 129,920 208,086 Total lease accounts receivable $ 269,254 $ 357,593 Lease obligations Current portion (capital leases payable) $ 139,334 $ 149,507 Long-term portion (non-current lease obligations). 129,920 208,086 Total lease obligations $ 269,254 $ 357,593 Leases payable incurred on behalf of customers during the six months ended June 30, 2015 and 2014 were $0 and $215,670, respectively. Repayment of capital lease payable made by customers directly to the third party leasing company during the three and six months ended June 30, 2015 and 2014 amounted to $50,650 and $49,573 and $78,810 and $99,147, respectively. Below is the summary of SignalShare lease transactions at June 30, 2015: Capital Leases Finance Leases Total as of June 30, 2015 Leases payable - current portion $ 2,937,889 $ 139,334 $ 3,077,223 Leases payable - long tern portion 4,575,901 129,920 4,705,821 Total leases payable $ 7,513,790 $ 269,254 $ 7,783,044

Line of Credit

Line of Credit	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 10. Line of Credit	On June 5, 2009, RMLX entered into a Revolving Credit, Security and Warrant Purchase Agreement (the “Credit Agreement”) with Cenfin, LLC (“Cenfin”), an entity principally owned by significant shareholders of the Company. The Credit Agreement permits us to borrow up to $25 million until June 5, 2017. On May 3, 2013, the Company and Cenfin executed a fourth amendment to the Credit Agreement which provided Cenfin sole and absolute discretion related to funding any advance requested by Roomlinx. Advances must be repaid at the earlier of five years from the date of borrowing or at the expiration of the Credit Agreement. The principal balance may be repaid at any time without penalty. Borrowings accrue interest, payable quarterly on the unpaid principal at a rate equal to the Federal Funds Rate at July 15 of each year plus 5% (approximately 5.09% per annum at June 30, 2015). The Credit Agreement is collateralized by substantially all of our assets, and requires us to maintain a total outstanding indebtedness to total assets ratio of less than 3 to 1. The amount outstanding under the Credit Agreement was $3,929,000 at June 30, 2015, which is part of the liabilities assumed in connection with the reverse acquisition transaction completed on March 27, 2015. These advances will be repaid at various dates between 2015 and 2017. The Credit Agreement requires that, in conjunction with each advance, RMLX issue Cenfin warrants to purchase shares of our common stock equal to 50% of the principal amount funded divided by (i) $120.00 on the first $5,000,000 of borrowings on or after July 15, 2010 ($4,712,000 as of December 31, 2012) or (ii) thereafter the fair market value of the Company’s common stock on the date of such draw for advances in excess of $5,000,000. The exercise price of the warrants is $120.00 for the warrants issued on the first $5,000,000 of borrowings made after July 15, 2010 and, thereafter, the average of the high and low market price for the Company’s common stock on the date of issuance. The exercise period of these warrants expires three years from the date of issuance. The fair value of warrants issued under of the Credit Agreement using the Black-Scholes pricing model was approximately $2,760,000 which is being amortized to earnings as additional interest expense over the term of the related indebtedness. The unamortized balance of the debt discount was $263,789 at June 30, 2015. During the three and six months ended June 30, 2015 the Company amortized $71,926 and $75,603 (for the period from March 27, 2015 through June 30, 2015) as debt discount expense. Borrowings outstanding are reported net of the debt discount. On March 24, 2015, in conjunction with the Subsidiary Merger Agreement, Cenfin entered into an Amended and Restated Revolving Credit Security Agreement with SSI and RMLX (the “CenFIn Infrastructure Credit Agreement”). Pursuant to the CenFin Infrastructure Credit Agreement, CenFin consented to the contribution of substantially all the assets of RMLX as of the date of the merger to SSI and CenFin was accordingly granted a continuing security interest in all of the assets of SSI and a pledge by RMLX of all of the equity of SSI. CenFIn’s security interest in the RMLX assets was thereafter limited to certain non-assignable contracts that remained with RMLX following the merger. Future minimum payments under the line of credit are as follows: Years ended June 30, Minimum Payments 2016 $ 1,632,896 2017 2,296,104 $ 3,929,000

Notes Payable - Related Parties

Notes Payable - Related Parties	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 11. Notes Payable - Related Parties	A summary of the outstanding balance of the various notes payable is as follows: Balance at June 30, 2015 December 31, 2014 (unaudited) Brookville Special Purpose Fund $ 2,182,162 $ 2,284,161 Veritas High Yield Fund, net of $19,746 and $43,258 unamortized debt discount at June 30, 2015 and December 31, 2014, respectively 485,578 615,470 Allied International Fund, Inc. 330,000 - Total notes payable – related parties 2,997,740 2,899,631 Less: current portion of notes payable – related parties (2,997,740 ) ( 832,030 ) Long-term portion of notes payable, related party $ - $ 2,067,601 On March 31, 2014, the Brookville Special Purpose Fund maturity date was extended to January 1, 2016 and the Veritas High Yield Fund maturity date was extended to April 1, 2016. The notes have been converted to a payment schedule that will fully amortize the existing balances of the notes payable by the maturity dates of the notes. The interest rates for these two notes payable remain at the originally negotiated 14% interest rate per annum. Accrued interest related to the Brookville Special Purpose Fund, the Veritas High Yield Fund and the Robert DePalo Special Opportunity Fund was capitalized as part of the balance of these notes payable at December 31, 2013 and are included in the repayment obligations of the Brookville Special Purpose Fund and the Veritas High Yield Fund. The capitalized interest on the Robert DePalo Special Opportunity Fund was included in the conversion of that note payable to Holdings’ common equity on March 14, 2014 described in Note 12. On March 27, 2015 and March 30, 2015, the Company entered into two notes with Allied International Fund, Inc. (“Allied”) for $255,000 and $275,000, respectively, which were due and payable on April 3, 2015 and April 15, 2015, respectively. Both notes carry interest at twenty percent (20%) per year. As of June 30, 2015 the balance of these two loans are $55,000 and $275,000, respectively. For the three months ended June 30, 2015 and 2014, the Company amortized deferred finance costs and debt discount totaling $17,444 and $17,444, respectively, and for the six months ended June 30, 2015 and 2014, the Company amortized deferred finance costs and debt discount totaling $34,696 and $122,694, respectively. A schedule of principal payments for the Brookville Special Purpose Fund, the Veritas High Yield Fund and the Allied International Fund Inc. notes payable, by year, is set forth below. Year Amount 2016 $ 3,017,486 Less: unamortized debt discount (19,746 ) Total notes payable – related parties $ 2,997,740

Note Payable

Note Payable	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 12. Note Payable	FCC note - NFS bridge loans - Seagel short term note - Tran short term note - As of June 30, 2015, the Company had the following outstanding note payable: Amount FCC note $ 15,216 NFS bridge loans 747,113 Seagell short term note 80,000 Tran short term note 300,000 Total 1,142,329 Less: Current portion (1,140,034 ) Net long-term portion $ 2,295 Future minimum payments under the note payable are as follows: Years ended June 30, Minimum Payments 2016 $ 1,140,034 2017 2,295 $ 1,142,329

Related Party Transactions - St

Related Party Transactions - Stockholders	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 13. Related Party Transactions - Stockholders	A significant shareholder of the Company manages the Brookville Special Purpose Fund, and the Veritas High Yield Fund. The SPHC Series A preferred stock is owned by Allied International Fund, Inc. (“Allied”), a company whose president is the wife of a major shareholder. The Series A preferred stock was issued to Allied for certain guarantees and other consideration. SPHC recognized Series A Preferred Stock dividends in the amount of $25,000 and $150,000 for the three months ended June 30, 2015 and 2014, respectively, and $175,000 and $300,000 for the six months ended June 30, 2015 and 2014, respectively. Preferred stock dividends payable amounted to $0 and $25,000 as of June 30, 2015 and December 31, 2014, respectively, which the December 31, 2014 balance has been included in accrued expenses and was paid in January 2015. See Note 16. Allied is also the holder of certain secured notes as described in Note 22 - Subsequent Events.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 14. Accrued Expenses	Accrued expenses consist of the following: Balance at June 30, 2015 December 31, 2014 (unaudited) Cost of service $ 543,815 $ 498,193 Selling, general and administrative expense 506,572 278,852 Compensation 825,147 135,016 Total $ 1,875,534 $ 912,061

Operating Lease Commitments

Operating Lease Commitments	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 15. Operating Lease Commitments	The Company leases office space in New Jersey, North Carolina, Colorado and Califoria under operating leases that expire at various dates through 2020. The office leases require the Company to pay escalating rental payments over the terms of the leases. The Company accounts for rent expense in accordance with ASC 840, “Leases” that requires rentals to be charged to income on a straight-line basis. The Company performs a deferred rent analysis when a new lease is entered into and when the current leases have been renewed or amended. Rent expense was $164,000 and $80,382 for the three months ended June 30, 2015 and 2014, respectively, and $272,437 and $159,148 for the six months ended June 30, 2015 and 2014, respectively. The following table summarizes the future minimum lease commitments under non-cancelable operating office leases as of June 30, 2015. March 31, Amount 2016 $ 418,298 2017 362,031 2018 342,998 2019 301,161 2020 45,056 Total $ 1,469,544

Equity

Equity	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 16. Equity	On March 27, 2015, the Company and SPHC signed and completed the “SMA”. Pursuant to the terms and conditions of a SMA by and among the Company, SPHC, SSI and RMLX Merger Corp. the Company completed the merger with SPHC (the “Closing”). Following the February 10, 2015 termination of a prior Merger Agreement, the SMA was negotiated based upon, among other things, significantly revised settlement agreements with the Company’s major creditors. These included, among other things, Cenfin LLC, the Company’s secured lender, obtaining 5% of the approximately 15% of the issued and outstanding fully diluted common stock of the Company following the Merger. Under the SMA, the Company’s wholly-owned subsidiary RMLX Merger Corp., a Delaware corporation, was merged with and into SPHC, with SPHC and its operating subsidiaries surviving as a wholly-owned subsidiary of the Company (the “Merger”). The existing business of Roomlinx was transferred into a newly-formed, wholly-owned subsidiary named SSI. The Company’s President and Chief Executive Officer, Michael S. Wasik, resigned from all positions with the parent Company and was named President and Chief Executive Officer of SSI. As a result of the Merger, the shareholders of SPHC, a privately-owned Delaware corporation, received an aggregate of approximately 85% of the Fully Diluted (as defined therein) common stock of the Company in exchange for 100% ownership interest in SPHC’s common stock and Series A Preferred Stock. The merger consideration was determined by the Company, after a thorough review of prospective acquisitions, the benefits of the transaction, including access to capital, increased market opportunities and reach, perceived synergies, efficiencies and other financial considerations, as well as a strategic growth plan contemplated by management of the combined entity. This transaction has been accounted for as a reverse acquisition where SPHC is the accounting acquirer and RMLX is the acquired company or the accounting acquiree. Accordingly, the historical financial statements prior to the consummation of the reverse acquisition transaction are those of SPHC. Upon the Closing, the accounting acquirer, SPHC, acquired all the assets and assumed all the liabilities of the Company and immediately transferred such assets and liabilities into SSI, a newly-formed Nevada corporation wholly owned by the Company. As a result of the foregoing, SSI and SPHC and their respective subsidiaries are now the principal operating subsidiaries of the Company. Pursuant to the terms of the SMA, the Company made a $750,000 cash payment to Cenfin, reducing the amount of the Revolving Loan with Cenfin to $3,962,000, bearing interest at approximately 5% per annum, and Cenfin received 7,061,295 shares of common stock. This revolving loan is secured by the assets of SSI, but not those of the parent company (except to the extent not assigned to SSI) and not by any assets of SPHC. Pursuant to the terms and conditions of the SMA, the Board of Directors of the Company declared a dividend of 12,590,317 shares of common stock to existing stockholders who held 107,007 shares of Common Stock or an aggregate of 12,697,324 shares (9.41% of the fully diluted shares) prior to the consummation of the reverse acquisition transaction. Cenfin was issued 7,061,295 (5.23% of the fully diluted shares) shares and at consummation, the SPHC shareholders were issued 115,282,137 (85.36% of the fully diluted shares) exclusive of 4,160,000 option shares for one to one basis. All of the dividend shares and Cenfin shares are subject to a nine month lock-up agreement, subject to certain registration rights. The foregoing summary of the terms and conditions of the SMA does not purport to be complete, and is qualified in its entirety by reference to the full text of the SMA, which is attached as an exhibit to the Company’s Form 8-K filed on April 2, 2015. As of the closing date, all outstanding shares of the Company’s preferred stock described below shall continue to be outstanding until such time as determined by the Company’s Board of Directors. All outstanding Company options exercisable for at least $36.00 per share, as well as all outstanding warrants, continue to be exercisable for the same number of shares at the same exercise price, each as adjusted for the Reverse Stock Split. In addition to the 115,282,137 shares of common stock issued to the former SPHC shareholders, the 4,160,000 options held by the SPHC option holders and 250,000 warrants held by warrant holders will be exchanged on a one for one basis for options and warrants in the Company. In addition, pursuant to the terms of the SMA, which have not been implemented, within fourteen days after the closing date (the “Post-Closing Date”): (a) following Roomlinx Stockholders Approval and Board of Directors approval, the Company shall (i) amend and restate its articles of incorporation to change its name to SignalShare Media Group, Inc.; and (ii) create serial preferred stock with substantially identical Series A and Series B (see Note 22) designations to that existing for SPHC at the time of the Subsidiary Merger. The Company’s restated articles of incorporation shall conform to the certificate of incorporation currently in effect for SPHC (except that the dividend payable for Series A Preferred Stock shall exclude revenues of up to $6 million per annum for both SSI and revenues of the Company attributable to contracts that have not been assigned to Roomlinx Subsidiaries because the applicable consents have not been obtained), and reflect the new name of the parent as “SignalShare Media Group, Inc.” As of June 30, 2015, the Company’s equity consists of the following: Class A Preferred Stock The Company has authorized 5,000,000 preferred shares with a $0.20 par value, of which 720,000 shares have been designated as Class A Preferred Stock. The Class A Preferred Stock has a liquidation preference of $0.20 per share and is entitled to receive cumulative annual dividends at the rate of 9%, payable in either cash or additional shares of Class A Preferred Stock, at the option of the Company. As of June 30, 2015, there were 720,000 shares of Class A Preferred Stock issued and outstanding. Undeclared Class A Preferred Stock dividends accumulated and unpaid as of June 30, 2015 and December 31, 2014, were $217,560 and $211,080, respectively; these dividends are not included in accrued expenses. Series A Preferred Stock Pursuant to the SMA the Company contracted to adopt series A preferred stock of SPHC, which was subsequently redeemed by SPHC. The Preferred Stock ranked senior to all of the Common Stock of SPHC, par value $0.001 per share; in each case as to distributions of assets upon liquidation, dissolution or winding up whether voluntary or involuntary. The Preferred Stock had a liquidation value of $5,000 per share. As of the date of this report, the holder of the Series A Preferred Stock still has a security interest and pursuant to a security agreement and a UCC financing statement outstanding with a lien of $2,700,000 reduced from $3,200,000 as the preferred stock was exchanged for debt. Dividends payable on the shares of Preferred Stock were initially an aggregate amount equal to one percent (1%) of the aggregate gross revenues per month of the Company and any of its consolidated subsidiaries, joint ventures, partnerships and/or licensing arrangements. Subsequent to entering into the Allied Preferred Stock transaction, the dividend terms were amended such that the amount of the monthly dividend was changed to 1% of revenue or $50,000 per month, whichever calculation produces a higher dividend (See Note 22). Series B Preferred Stock In July 2013, SPHC authorized the issuance of 10 shares of Series B preferred stock (“Series B Preferred Stock”) to its majority shareholder. There are no cash and/or cumulative dividends authorized for the Series B Preferred Stock, but the provisions of the Series B Preferred Stock permitted the holder to exercise control over a broad range of the Company actions. See Note 22, Subsequent Events for information covering the cancellation of the Series B preferred stock. Common Stock Common Stock: The Company had authorized 400,000,000 shares of $0.001 par value common stock as of June 30, 2015, there were 135,040,720 shares of Common Stock issued and outstanding. Contributions by Shareholder During the first six months of 2015, the majority shareholder of SPHC contributed $571,004 which amount was recorded as additional paid-in capital and was allocated to contributed capital from the majority shareholder.

Warrants, Stock Option Plans an

Warrants, Stock Option Plans and Stock Appreciation Rights	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 17. Warrants, Stock Option Plans and Stock Appreciation Rights	Warrants: As of June 30, 2015, the Company had 250,547, of warrants outstanding, which were issued in connection with the line of credit (see Note 10) and other lender relationship of SignalShare. No warrants were issued during the quarter ended June 30, 2015. The following is a summary of warrant activity for the six months ended June 30, 2015: Shares Underlying Warrants Weighted Average Exercise Price Weighted Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding at January 1, 2015 - $ - Issued 250,000 1.80 Warrants assumed through reverse acquisition 15,380 203.88 Expired/Cancelled (14,833 ) 201.44 Outstanding and exercisable at June 30, 2015 250,547 $ 2.39 4.64 $ - The company issued 250,000 warrants to NFS during the first quarter of 2015. The shares were fair valued at $444,282 recorded as deferred finance fees and being amortized over a five-year period. During the three and six months ended June 30, 2015 the Company amortized $22,214 and $51,833 to intesest expense, respectively. Stock Options: In 2004, the Company adopted a long term incentive stock option plan (the “Stock Option Plan”) which covers key employees, officers, directors and other individuals providing bona fide services to the Company. On December 27, 2012, subject to stockholder approval, the board of directors voted to amend the Stock Option Plan to (i) adjust the maximum allowable shares of common stock upon exercise of options which may be granted from 1,200,000 to 2,000,000 shares of common stock and (ii) remove the provision from the Stock Option Plan which provided that any shares that are surrendered to or withheld by the Company in connection with any award or that are otherwise forfeited after issuance shall not be available for purchase pursuant to incentive stock options intended to qualify under Section 422 of the Internal Revenue Code of 1986, as amended. As of June 30, 2015, options to purchase 5,649,953 shares were outstanding. The options vest as determined by the Board of Directors and are exercisable for a period of no more than 10 years. A summary of stock option activity under the Stock Option Plan is presented below: Shares Underlying Options Weighted Average Exercise Price Weighted Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding at January 1, 2015 795,000 $ 1.80 Granted and Issued 4,885,000 1.80 Options assumed through reverse acquisition 14,221 97.92 Expired/Cancelled (44,269 ) 8.96 Outstanding at June 30, 2015 5,649,953 $ 1.99 4.69 $ - Exercisable at June 30, 2015 1,737,710 $ 2.38 4.72 $ - Un-exercisable at June 30, 2015 3,912,243 $ 1.81 4.68 $ - Stock Appreciation Right Agreements On August 12, 2014, the Board of Directors authorized the Company to enter into a Stock Appreciation Right Agreement (the “Agreement”) by and between the Company and two current officers and a consultant for the Company (the “Recipients”). The Agreements granted stock appreciation rights (“SARs”) as an inducement for the Recipients to promote the best interests of the Company and its stockholders. The spread between the then fair market value of the Company’s common stock, par value $0.001 per share (“Common Stock”) on the grant date and the then fair market value of the stock on the date of exercise shall be payable to the Recipients, less applicable tax withholdings. Set forth below is information with regard to the individuals, number of shares and exercise price of the SARs issued as of October 30, 2014. The SARs are subject to graded vesting provisions and may only be exercised when the Recipients SARs have vested. The SARs will vest 50% on January 10, 2015 and 50% on January 10, 2016 and the SARs may only be exercised in the year in which they vest. Vested SARs that remain unexercised at the end of a vesting year will expire at that time. Any unvested SARs will be immediately forfeited and canceled in the event that a Recipient’s employment or other service with the Company is terminated for any reason. ● Aaron Dobrinsky, President or an entity of his choosing, SARs were authorized for 3,500,000 shares of Common Stock at $0.50 per share, provided Mr. Dobrinsky remains employed by the Company. ● Christopher Broderick, Chief Operating Officer, or an entity of his choosing SARs were authorized for 3,500,000 shares of Common Stock at $0.50 per share, provided Mr. Broderick remains employed by the Company. ● SAB Management LLC, an entity owned by Andrew Bressman, Managing Director and his wife, SARs were authorized for 8,500,000 shares of Common Stock at $0.10 per share, provided Mr. Bressman remains employed by the company. The following are the assumptions utilized in the estimation of stock-based compensation related to the SARs granted for the year ended December 31, 2014: 2014 Expected term 2 years Expected volatility 221 % Risk free interest rate 0.48 % Dividend yield 0 % Set forth below is information with regard to the individuals, number of shares and exercise price of the SARs issued as of March 20, 2015: The SARs are subject to graded vesting provisions and may only be exercised when the Recipients SARs have vested. The SARs will vest on January 10, 2017 and the SARs may only be exercised in the year in which they vest. Vested SARs that remain unexercised at the end of a vesting year will expire at that time. Any unvested SARs will be immediately forfeited and canceled in the event that a Recipient’s employment or other service with the Company is terminated for any reason. ● Aaron Dobrinsky, President or an entity of his choosing, SARs were authorized for 1,750,000 shares of Common Stock at $0.50 per share, provided Mr. Dobrinsky remains employed by the Company. ● Christopher Broderick, Chief Operating Officer, or an entity of his choosing SARs were authorized for 1,750,000 shares of Common Stock at $0.50 per share, provided Mr. Broderick remains employed by the Company. ● SAB Management LLC, an entity owned by Andrew Bressman, Managing Director and his wife, SARs were authorized for 4,250,000 shares of Common Stock at $0.10 per share, provided Mr. Bressman remains employed by the company. Set forth below is information with regard to the individuals, number of shares and exercise price of the SARs issued as of March 27, 2015: The SARs are subject to graded vesting provisions and may only be exercised when the Recipients SARs have vested. The SARs will vest 50% on January 10, 2017 and 50% on January 10, 2018 and the SARs may only be exercised in the year in which they vest. Vested SARs that remain unexercised at the end of a vesting year will expire at that time. Any unvested SARs will be immediately forfeited and canceled in the event that a Recipient’s employment or other service with the Company is terminated for any reason. ● Two executives of SignalShare, SARs were authorized for 2,000,000 shares of Common Stock at $1.80 per share, provided they remain employed by the Company. The following are the assumptions utilized in the estimation of stock-based compensation related to the SARs granted for the six months ended June 30, 2015: 2015 Expected term 3 years Expected volatility 216 % Risk free interest rate 0.92 % Dividend yield 0 % A summary of SAR activity is presented below: Shares Underlying SARs Weighted Average Exercise Price Weighted Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding at January 1, 2015 15,500,000 $ 0.28 Granted and Issued 9,750,000 0.59 SARs Assumed through reverse acquisition - - Expired/Cancelled - - Outstanding at June 30, 2015 25,250,000 $ 0.40 2.22 $ - Exercisable at June 30, 2015 7,750,000 $ 0.28 1.76 $ - Un-exercisable at June 30, 2015 17,500,000 $ 0.45 2.43 $ - The Company recorded stock-based compensation expense of $6,197,788 and $-0- for the three months ended June 30, 2015 and 2014, respectively, and $9,365,441and $-0- for the six months ended June 30, 2015 and 2014, respectively. The amounts are recorded in selling, general and administrative expense in the unaudited condensed consolidated statements of operations and comprehensive loss. At June 30, 2015, there was approximately $29.5 million in unrecognized compensation cost related to options and SARs that will be recorded over future periods of approximately three years.

Arista Communications, LLC.

Arista Communications, LLC.	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 18. Arista Communications, LLC.	SSI has a 50% joint venture ownership in, and manages the operations for Arista Communications, LLC (“Arista”). The other 50% of Arista is owned by Wiens Real Estate Ventures, LLC, a Colorado limited liability company (“Weins”). SSI acquired its 50% interest in Arista through its acquisition of Canadian Communications, LLC, on October 1, 2010. Arista provides telephone, internet, and television services to residential and business customers located in the Arista community in Broomfield, Colorado. As the operations manager for Arista, in accordance with ASC 810, Consolidation, the Company determined that Arista is a variable interest entity that must be consolidated. Roomlinx reports 100% of Arista revenues and expenses in its consolidated statements of operations and comprehensive loss and 100% of Arista assets, liabilities, and equity transactions on its consolidated balance sheets. Roomlinx then records the non-controlling interest allocation. Financial information for Arista Communications, LLC, for the three months ended June 30, 2015 and period from March 27, 2015 (date of Acquisition) to June 30, 2015 is as follows: Three Months Ended June 30, 2015 Period from March 27, 2015 to June 30, 2015 Revenue $ 18,839 $ 19,617 Direct Costs (15,325 ) (16,407 ) Operating expenses (8,351 ) (8,711 ) Net loss $ (4,837 ) $ (5,501 ) Weins’ share of the net loss is $2,418 and $2,750 for the three and six months ended June 30, 2015, respectively.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 19. Segment Information	Financial information for our segment for the three months ended June 30, 2015 and 2014, is as follows: Broadband and VOIP WiFi Hospitality Corporate Totals Three months ended June 30, 2015 Revenues $ 2,739,594 $ 1,020,010 $ 1,891,991 $ - $ 5,651,595 Operating (loss) income $ (565,630 ) $ (1,187,310 ) $ 65,535 $ (6,495,801 ) $ (8,183,206 ) Net (loss) income attributable to common shareholders $ (565,630 ) $ (1,439,964 ) $ 67,953 $ (6,929,692 ) $ (8,867,333 ) Three months ended June 30, 2014 Revenues $ 2,784,435 $ 573,913 $ - $ - $ 3,358,348 Operating loss $ (900,475 ) $ (352,129 ) $ - $ (427,294 ) $ (1,679,898 ) Net loss attributable to common shareholders $ (900,475 ) $ (315,063 ) $ - $ (677,616 ) $ (1,893,154 ) Financial information for our segment for the six months ended June 30, 2015 and 2014, is as follows: Broadband and VOIP WiFi Hospitality Corporate Totals Six months ended June 30, 2015 Revenues $ 5,507,986 $ 1,366,184 $ 1,980,286 $ - $ 8,854,456 Operating loss $ (1,155,081 ) $ (2,899,638 ) $ 74,101 $ (52,613,674 ) $ (56,594,292 ) Net loss attributable to common shareholders $ (1,155,081 ) $ (3,304,936 ) $ 76,851 $ (53,471,888 ) $ (57,855,054 ) Six months ended June 30, 2014 Revenues $ 5,676,658 $ 807,004 $ - $ - $ 6,483,662 Operating loss $ (1,936,821 ) $ (881,685 ) $ - $ (513,664 ) $ (3,332,170 ) Net loss attributable to common shareholders $ (1,936,821 ) $ (815,813 ) $ - $ (1,515,520 ) $ (4,268,154 ) Financial information for our segment as of June 30, 2015 is as follows: As of June 30, 2015 Total Assets $ 2,367,264 $ 11,043,926 $ $2,067,101 $ 147,852 $ 15,626,143

Pro-forma Financial Information

Pro-forma Financial Information	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 20. Pro-forma Financial Information	The following presents the unaudited pro-forma combined results of operations of the Company in connection with the reverse acquisition transaction was completed on March 27, 2015 for the three and six months ended June 30, 2015 and 2014, after giving effect to certain pro-forma adjustments and assuming the reverse acquisition transaction completed as of the beginning of 2014. These unaudited pro-forma results are presented in compliance with the adoption of Accounting Standards Update ("ASU") 2010-29, Business Combinations Disclosure of Supplementary Pro Forma Information for Business Combinations For the three months ended June 30, (unaudited) 2015 2014 Revenues $ 5,651,595 $ 5,254,760 Cost of sales 3,972,690 3,490,050 Gross profit 1,678,905 1,764,710 Selling, general and administrative expenses 9,862,111 3,663,413 Operating loss (8,183,206 ) (1,808,703 ) Interest expense, net 691,711 274,726 Other income, net (36,540 ) (141,252 ) Loss from continuing operations before income taxes (8,838,377 ) (2,032,177 ) Income taxes. - - Net loss from continuing operations (8,838,377 ) (2,032,177 ) Loss from discontinued operations - (49,869 ) Net loss (8,838,377 ) (2,082,046 ) Net loss attributable to the non-controlling interest 2,418 2,878 Net loss attributable to the Company (8,835,959 ) (2,079,168 ) Currency translation (loss) gain (6,374 ) (5,635 ) Comprehensive loss (8,842,333 ) (2,084,803 ) Dividends on preferred stock 25,000 150,000 Net loss attributable to common shareholders $ (8,867,333 ) $ (2,234,803 ) For the six months ended June 30, (unaudited) 2015 2014 Revenues $ 10,664,605 $ 10,010,231 Cost of sales 7,868,626 6,833,849 Gross profit 2,795,979 3,176,382 Selling, general and administrative expenses 17,212,805 7,156,006 Operating loss (14,416,826 ) (3,979,624 ) Interest expense, net 1,342,622 925,787 Other income, net (67,181 ) (186,766 ) Loss from continuing operations before income taxes (15,692,267 ) (4,718,645 ) Income taxes. - - Net loss from continuing operations (15,692,267 ) (4,718,645 ) Loss from discontinued operations - (127,779 ) Net loss (15,692,267 ) (4,846,424 ) Net loss attributable to the non-controlling interest 4,089 5,052 Net loss attributable to the Company (15,688,178 ) (4,841,372 ) Currency translation (loss) gain 7,364 (4,427 ) Comprehensive loss (15,680,814 ) (4,845,799 ) Dividends on preferred stock 175,000 300,000 Net loss attributable to common shareholders $ (15,855,814 ) $ (5,145,799 )

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 21. Commitments and Contingencies	Non-Income Taxes The Company remits state excise tax on various telecommunication services, as it is the Company’s position that the telephone service originates in the states where the equipment or customers are located or the services are rendered. State taxing authorities are constantly revising the laws and regulations with regard to telecommunication services and therefore, the Company is subject to potential excise tax in other jurisdictions based upon these constantly changing laws and regulations. However, the Company cannot determine such potential amount as of June 30, 2015. Litigation The Company is party to various legal proceedings and claims related to its normal business operations. In the opinion of management, the Company has substantial and meritorious defenses for these claims and proceedings in which it is a defendant, and believes these matters will be ultimately resolved without a material adverse effect on the consolidated financial position, results of operations or liquidity of the Company. The aggregate provision for losses related to contingencies arising in the ordinary course of business is not material, individually or in the aggregate, to the consolidated operating results for the three and six months ended June 30, 2015 and 2014. El Dorado Offices 2, LP The Company received notice that El Dorado Offices 2, LP (“Landlord”) had filed suit against the Company and SignalShare Infrastructure, Inc. (“SSII”) associated with amounts due under a terminated office space lease and an associated promissory note. The Landlord seeks approximately $326,000, plus costs, associated with the failure to repay the promissory note. The Company was served with the complaint on November 24, 2015 and must answer within 21 days. The Company is reviewing the complaint and weighing its options at present. CLC Networks and Skada The Company is in receipt of a District Court Civil Summons, dated May 29, 2012, in the matter of “CLC Networks, Inc. and Skada Capital, LLC v. Roomlinx, Inc.”, commenced in the District Court of Boulder County, Colorado (the “Action”). The plaintiffs in the Action claimed that the Company owed them certain unpaid sales commissions, including with respect to Hyatt Corporation in connection with that certain Master Services and Equipment Purchase Agreement, as described in the Company’s Current Report on Form 8-K, as filed with the Securities and Exchange Commission on March 13, 2012. The Company and the plaintiffs executed a settlement agreement in February 2014 for $106,528 to be paid in 19 even monthly installments commencing March of 2014. As of June 30, 2015 the Company has a liability of approximately $16,820 remaining in accounts payable. TIG The Company is in receipt of a letter from Technology Integration Group ("TIG") demanding payment of approximately $2,430,000 with respect to inventory and services which the Company purchased from TIG, of which approximately $2,088,000 remains in accounts payable at December 31, 2014. TIG subsequently filed the Action. On September 23, 2014, the Company entered into a Settlement Agreement and Mutual General Release with TIG. The Settlement Agreement was conditioned on the SPHC merger taking place. On March 24, 2015, the Company, Michael S. Wasik, Anthony DiPaolo and SSI entered into the Settlement Agreement and Mutual General Release with PC Specialists Inc. (d/b/a TIG), replacing the agreement signed in the fourth quarter of 2014. As of March 23, 2015, the Company owed TIG $3,003,267, consisting of $2,064,223 for equipment purchased and stored, $879,998 of interest on such amount and $59,046 of attorneys’ fees and costs. Under the settlement agreement, the Company agreed to pay a settlement amount of $1,919,239, of which $400,000 was paid by SPHC upon the closing of the SMA. As a result, the Company, Wasik and DiPaolo were released from the Action and TIG consented to the transfer of rights and obligations under the Settlement Agreement to SSI with no recourse to the Company or SPHC. As of June 30, 2015 the Company has the entire liability due TIG recorded in accounts payable. ScanSource The Company received a District Court Civil Summons, dated August 23, 2013, in the matter of “ScanSource v. Roomlinx, Inc.”, commenced in the District Court of Greenville County, South Carolina. The plaintiffs in such action claimed that the Company owed them approximately $473,000 with respect to inventory purchased by the Company. The amount is recorded in accounts payable in the condensed consolidated balance sheets as of March 31, 2015 and December 31, 2014. On March 31, 2015, the Company and ScanSource entered into a settlement agreement with respect to such action in which Roomlinx agreed to pay ScanSource a total of $471,000 plus interest as follows: (a) payment of $100,000 on or before June 1, 2015, (b) beginning June 1, 2015, interest accruing on the outstanding balance of 12% per annum until the balance is paid in full, (c) beginning July 1, 2015 and continuing for 12 months thereafter, payment of $8,000 per month, and (d) following the initial 12 month payment schedule set forth in (b), payment of $316,715 in 24 monthly payments according to an amortization schedule agreed to by the Company and ScanSource. BSA The Company is in receipt of a letter from the BSA Software Alliance (“BSA”) in connection with copyright infringement of computer software products alleging the unauthorized duplication of various computer software products. BSA has threatened to file an action against the Company if it does not timely respond to its request for an internal audit. The Company is currently reviewing BSA’s claims, however, believes there is no merit. Arrow The Company is in receipt of a District Court Civil Summons, dated July 21, 2014, in the matter of “Arrow Electronics, Inc. v. Roomlinx, Inc., d/b/a Cardinal Broadband, d/b/a Roomlinx,” commenced in the District Court of Broomfield County, Colorado. The plaintiff in such action claims that the Company owes it approximately $85,000 with respect to goods sold and delivered and/or services rendered to the Company by the plaintiff. The Company settled the claim in May 2015 by agreeing to pay Arrow a total of $57,000 over the next 9 months. At June 30, 2015, the Company has the total amount of the settlement recorded in accounts payable. Wi-Fi Guys The Company is in receipt of a letter dated November 10, 2014 on behalf of Wi-Fi Guys, LLC (“WFG”) demanding payment from the Company for amounts relating to development and software services in the amount of $297,000. The Company evaluated all of its options, including legal options, with respect to the validity of the WFG letter and the alleged grounds for demanding payment and formally responded in a letter dated December 1, 2014 in which the Company denied WFG’s claims and additionally made separate counter-claims against WFG. Hyatt The Company received a request for indemnification from Hyatt Corporation (“Hyatt”) dated July 3, 2013 in connection with a case brought in US Federal Court in California by Ameranth, Inc., against, among others, Hyatt. In connection with such case, the plaintiffs have identified the Company’s e-concierge software as allegedly infringing Ameranth’s patents. The Company licenses the e-concierge software from a third party and accordingly has made a corresponding indemnification request to such third party. The Company believes that any such claim may also be covered by the Company’s liability insurance coverage and accordingly the Company does not expect that this matter will result in any material liability to the Company. On March 12, 2012, the Company and Hyatt Corporation (“Hyatt”) entered into a Master Services and Equipment Purchase Agreement (the “MSA”) pursuant to which the Company has agreed to provide in-room media and entertainment solutions, including its proprietary Interactive TV (or iTV) platform, high speed internet, free-to-guest, on-demand programming and related support services, to Hyatt-owned, managed or franchised hotels that are located in the United States, Canada and the Caribbean. Under the MSA, Hyatt will use its commercially reasonable efforts to cause its managed hotels to order the installation of the Company’s iTV product in a minimum number of rooms in Hyatt hotels within certain time frames. In December 2012, the Company and Hyatt mutually agreed to suspend certain Hyatt obligations under the MSA that had not been met; including the suspension of the obligations of Hyatt to cause a certain number of rooms in both Hyatt owned and managed properties to place orders for the Company’s iTV products within certain time frames. At the time of the December 2012 suspension of these Hyatt obligations, the Company had installed certain services and products in approximately 19,000 rooms (including approximately 9,000 installs of its iTV product) in Hyatt hotels. During the year ended December 31, 2013, the Company completed the installation of approximately 1,000 additional rooms. As of June 30, 2015 and December 31, 2014, deposits received on statements of work for Hyatt properties are recorded as customer deposits in the condensed consolidated balance sheets in the amounts of approximately $1,262,000. In connection with the Merger Agreement, the Company and Hyatt entered into a Waiver and Consent Agreement dated as of March 11, 2014 (the “Hyatt Consent Agreement”), pursuant to which Hyatt provided its conditional consent and approval to the transactions contemplated by the Merger Agreement and any assignment of the Company’s assets contemplated thereunder, including the assignment to SSI of the Company’s right, title and interest under the MSA and under the Hotel Services & Equipment Purchase Agreements (the “HSAs”) entered into by the Company with individual hotel owner entities. On September 29, 2014, the Company received a letter from Hyatt (the “September 29th Letter”) notifying the Company that Hyatt is terminating the HSAs with respect to the following five hotels in which the Company has yet to install any equipment or provide any services – the Hyatt Regency Indianapolis, the Hyatt Regency Greenwich, the Grand Hyatt New York City, the Hyatt Regency Coconut Point and the Hyatt Regency Lake Tahoe (collectively, the “Hotels”). Hyatt’s September 29th Letter does not affect any Hyatt hotels under the MSA currently being serviced by the Company. Hyatt's termination of the HSAs is based on alleged noncompliance by the Company and SSH with certain provisions of the Hyatt Consent Agreement. The Company evaluated the validity of the Hyatt Letter and the alleged grounds for terminating the HSAs for the Hotels, and believes such grounds are without merit. Hyatt’s September 29th Letter also requested repayment of deposits in the aggregate amount of $966,000 paid to the Company by the Hotels in connection with the HSAs. A second letter dated November 14, 2014 (the “November 14th Letter”) received by the Company from Hyatt demanded repayment of such deposits by November 21, 2014. Upon evaluating the validity of Hyatt’s November 14th Letter and again determining that Hyatt’s grounds for terminating the HSA and demanding the return of the aforementioned deposits are without merit, the Company formally responded in a letter to Hyatt dated March 3, 2015 wherein the Company denied Hyatt’s claims. The Company subsequently received a third letter from Hyatt dated March 26, 2015 (the “March 26th Letter”) in which Hyatt again demanded the repayment of the aforementioned deposits. The Company has evaluated the validity of the March 26th Letter and the alleged grounds for terminating the HSAs for the Hotels, and believes such grounds are without merit. The Company has not made any such repayment to Hyatt. On May 4, 2015, the Company received a letter from Hyatt alleging that the Hyatt Consent Agreement did not apply to the merger between Signal Point Holdings Corporation and the Company and further contends that such merger triggered Hyatt’s right to terminate the MSA. The Company believes Hyatt’s arguments and conclusion are without merit. The Parties began negotiations to rectify the disputes between them and entered into a Settlement Agreement on November 17, 2015 providing for the orderly termination of iTV services at Hyatt locations. The Settlement Agreement also provided for the extension of high speed internet services for 36 months in retained Hyatt locations and gave the Company the right to bid on all future Wi-Fi installations at hotels and business center locations. The Settlement Agreement also provided that the deposit would be used to fund transitional services and future installation costs. Finally, the Settlement Agreement provided for mutual releases. AGC The Company is in receipt of a letter dated April 10, 2015 on behalf of America’s Growth Capital, LLC d/b/a AGC Partners (“AGC”) demanding payment from the Company for amounts relating to the occurrence of a strategic transaction between the Company and Signal Point Holdings Corp in the amount of $300,000. The Company has evaluated all of its options, including legal options, with respect to the validity of the AGC letter and the alleged grounds for demanding payment and formally responded in a letter dated April 16, 2015 in which the Company denied AGC’s claims. Guarantees and Indemnities: The Company indemnifies its directors, officers and certain executives to the maximum extent permitted under the laws of the State of Nevada, and its lessor in connection with its facility lease for certain claims arising from such facility or lease. Additionally, the Company periodically enters into contracts that contain indemnification obligations. These indemnification obligations provide the contracting parties with the contractual right to have the Company pay for the costs associated with the defense and settlement of claims, typically in circumstances where the Company has failed to meet its contractual performance obligations in some fashion. The maximum amount of potential future payments under such indemnifications is not determinable. The Company has not incurred significant costs related to these guarantees and indemnifications, and no liability has been recorded in the consolidated financial statements for guarantees and indemnifications as of June 30, 2015. Other The Company is dependent on the use of incumbent local exchange carriers’ local and transport networks and access services to provide telecommunications services to its customers. Charges for leasing local and transport network components and purchasing special access services historically have made up a significant percentage of both the Company’s and the Predecessor Company’s overall cost of providing telecommunications services to its customers. These network components and services are purchased in each market through interconnection agreements, special access contracts, commercial agreements or a combination of such agreements from the incumbent local exchange carrier, or, where available, from other wholesale network service providers. These costs are recognized in the period in which the services are delivered and are included as a component of the Company’s cost of sales. Other than the foregoing, no material legal proceedings to which the Company (or any officer or director of the Company, or any affiliate or owner of record or beneficially of more than five percent of the Common Stock, to management’s knowledge) is party to or to which the property of the Company is subject is pending, and no such material proceeding is known by management of the Company to be contemplated.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 22. Subsequent Events	Amendment and default of Roomlinx debt On June 30, 2015, SSI and RMLX entered into the First Amendment to the CenFin Infrastructure Credit Agreement, dated as of June 30, 2015 (the “Amendment”), with CenFin. The material terms of the Amendment provided that CenFin would be entitled to 33% of the gross proceeds raised in any equity or debt financing activities by either Roomlinx or SSI, not including operational leases, for so long as there is any outstanding balance under the Credit Agreement (the “CenFin Equity Payment Obligation”). The terms of the Amendment required Roomlinx to enter an Account Control Agreement reflecting the modifications set forth in the Amendment. In consideration of the Amendment, Roomlinx and SSI released the Lender from all claims related to the loan documents. On September 30, 2015, Roomlinx and its affiliate SSI, received a notice of default under the Amended and Restated Revolving Credit and Security Agreement dated June 30, 2015 (Agreement). The notice alleges that the Roomlinx and SSI were in default of the Agreement due to the failure to make payments equaling $252,250 and seeks to enforce its rights under the Agreement. On October 7, 2015, in settlement of the default, Roomlinx and SSI entered into a Forbearance Agreement with Cenfin upon the following terms: ● The interest rate on each Revolving Loan (as defined) was increased to the Federal Funds Rate plus 13%, from 5%. ● Subject to compliance by Roomlinx and SSI with the terms and conditions of the Second Amendment and the Loan Agreement, Cenfin agreed to forebear from exercising its rights and remedies against SSI with right to the default which occurred as a result of non-payment on September 29, 2015 until the earlier of November 7, 2015 or a Forbearance Default (as defined) occurs (the “Forbearance Period”). SSI also agreed during the Forbearance Period not to make any payments to creditors or lenders of SSI without Cenfin’s prior written consent, except for contractual payments, in the ordinary course of business to vendors of SSI. ● Roomlinx agreed during the Forbearance Period not to make any payments to creditors or lenders of Roomlinx (other than NFS Leasing) without first giving Cenfin two (2) business days prior written notice, except for contractual payments to vendors in the ordinary course of business. Amendment and default of SignalShare debt On July 31, 2015, certain wholly owned subsidiaries of Roomlinx identified below entered into the following agreements in connection with the conversion of certain equipment leases into secured loans (collectively referenced as the “NFS Loan Documents”): ● Lease Schedule Termination Loan and General Release Agreement (the “Termination Agreement”), by and between SignalShare and NFS Leasing, Inc. (“NFS”); ● Security Agreement by and between Holdings and NFS; ● Promissory Note issued by SignalShare to NFS in the principal amount of $4,946,213 (the “Note”); ● Corporate Guaranty Agreement by and between Holdings and NFS; and ● First Amendment to the Security Agreement by and between SignalShare and NFS. The NFS Loan Documents provided that amounts owed by SignalShare to NFS pursuant to certain equipment leases would be converted into secured debt as evidenced by the Note. The Note provides for SignalShare to make seventy five consecutive weekly payments of $71,207 with a final payment of $18,887 due upon maturity of the Note on December 19, 2016 (the “Maturity Date”). The Note is secured by subordinated security interests in all of the assets of SignalShare and Holdings. The Note is also guaranteed by Holdings. In addition to the payment obligations under the Note, the Termination Agreement provides that SignalShare will make concurrent weekly payments of $28,793 for payments due pursuant to the Master Equipment Lease Number: 2013-218 dated as of March 11, 2013 through the Maturity Date. In connection with the NFS Loan Documents, Roomlinx issued to NFS a Warrant to purchase 1,111,111 shares of Common Stock at an exercise price of $1.80 per share with an exercise period of five years. On September 22, 2015, NFS notified SignalShare of a default for non-payment. On September 28, 2015 NFS withdrew the default. In exchange for the default being withdrawn, NFS, SignalShare and Holdings agreed that unless NFS, on or before Friday, October 2, 2015, is in receipt of payment in the amount of $389,416 or alternatively, if a forbearance arrangement satisfactory to NFS is not executed between the parties by the close of business (5:00 P.M.) on that day, NFS shall be entitled to issue a new Notice of Default directed to both SignalShare and Holdings (with respect to its guaranty), in which event SignalShare and Holdings each waive all applicable cure periods with respect to such default. On October 2, 2015, NFS gave notice of Default to SignalShare and simultaneously gave notice to Holdings that NFS would be seeking payment under the SignalShare note pursuant to the corporate guarantee given NFS by Holdings as security for the converted SignalShare loans. The parties negotiated a settlement upon the following material terms: ● SignalShare shall pay NFS via wire transfer the sum of $150,000 within one business day of its receipt of the final payment from one of its customers, which was expected to be received approximately October 30, 2015. ● SignalShare will pay NFS the amount of $28,793 via wire transfer on each Monday, commencing October 12, 2015 through Monday November 16, 2015, on account of the Master Lease. SignalShare has made it first three payment under these terms on October 12, 19 and 26, 2015. ● SignalShare shall on or before October 23, 2015 cause UCC termination statements to be filed by each of Brookville and Veritas. ● On or before November 16, 2015 SignalShare and Holdings shall close a bridge loan funding, or any other similar funding event NFS on or before said date, will receive a $500,000 payment which NFS will apply against the outstanding Term Note in accordance with the provisions of the Note. ● Upon NFS’s receipt of the foregoing $500,000 payment, NFS, in its sole discretion, may choose to restructure the remaining balance of the Term Note. In such event the $28,793 weekly Master Lease payments will remain in effect until the leases are paid in full. ● SignalShare shall make a payment to NFS in the amount of $20,000 on or before December 1, 2015 which will be accepted by NFS’ as reimbursement of its attorneys’ fees and other expenses. ● SignalShare shall pay the past due Personal Property tax due NFS of $50,217 on or before December 15, 2015. ● One million shares in Roomlinx will be issued to NFS upon, and subject to, NFS’ execution of a mutually agreeable Roomlinx’s Investment Intent Letter confirming that the shares are being acquired for lawful investment purposes under applicable law. In the event SignalShare or Holdings fails to timely pay to NFS any amounts set forth above, or otherwise fails to timely perform any other obligation set forth above, NFS shall have the right to immediately, upon e-mail notice to SignalShare reinstate the default, with no cure rights. . On November 18, 2015, NFS gave notice of Default to SignalShare and simultaneously gave notice to SPHC that NFS would be seeking payment under the SignalShare note pursuant to the corporate guarantee given NFS by SPHC as security for the converted SignalShare loans. The parties entered in negotiations in order to remove the default and restructure the obligations. On November 19, 2015, the parties agreed to restructure the loan and make certain payments to NFS and are presently working on a formal withdrawal of the defaults and formalizing the agreement. In the meantime, NFS is not pursuing its defaults. Allied On March 27, 2015 and March 30, 2015, the Company entered into two notes with Allied for $255,000 and $275,000, respectively, which were due and payable on April 3, 2015 and April 15, 2015, respectively. Both notes carry interest at twenty percent (20%) per year. As of October 22, 2015, a balance of $205,000 of principal is outstanding plus accrued interest of approximately $35,000 on these notes. In addition, Allied is the holder of the Company’s Series A Preferred Stock for which Allied claims dividends are due. On October 9, 2015, the Company received a notice of default. On October 12, 2015, the default was withdrawn. On November 24, 2015, Allied issued a default regarding the march 23, 2015 note with the SPHC in the amount of $240,000. SPHC has three (3) business days to cure the default, or November 30, 2015. If the default is not cured, Allied will have the right to the receivables of Signal Point Telecommunications Corp. until the note is repaid. The Parties are currently in negotiations to remove the default and Allied is forebearing against its rights at this time. See October 26, 2015 transactions below for further discussion. Brookville, Varitas, and Robert Depalo Defaults The Company has relationships with various entities related to and controlled by Robert DePalo. These include Brookville, Veritas and Mr. DePalo personally in the form of a consulting agreement. Brookville and Veritas are both senior secured lenders of the Company. Mr. DePalo as a consultant under the aforementioned consulting agreement, claims payments of $17,500 per month are due for the last five (5) months. Each of these entities claim that the Company is in breach of its obligations and on October 9, 2015 each entity sent notice of default. The parties negotiated the defaults and on October 12, 2015 the defaults were withdrawn. See October 26, 2015 transactions below for further discussion. Leasing Irregularities and Management Controls On September 17, 2015, the Company received an allegation by Robert DePalo, the former board member, CEO and substantial shareholder of the Company, alleging misappropriation of funds by two members of the Company’s management team. The Company investigated these allegations and found them to be false and without merit. In July 2015, the Company became aware of irregularities in leasing arrangements between SignalShare and NFS related to leases entered into prior to the date of the Merger. During an audit of the leases, it was determined that certain leases were under collateralized. As a result, SignalShare and NFS converted those leases into a loan guaranteed by the Company. In addition, management evaluated controls over execution of leases at its subsidiary and implemented additional controls. These additional controls include SignalShare’s management and financial personnel’s powers being substantially curtailed and all major decision making matters are now required to be approved by management of the Company. Moreover, two of the officers of SignalShare were required to personally guaranty the new loan. SignalShare payroll tax matter SignalShare is in default of its payment obligations for payroll taxes to the IRS for the first and second quarter of 2015. The amount of trust fund taxes outstanding as of September 30, 2015 is $375,815 which does not include penalties and interest. SignalShare is in negotiations with the IRS regarding payment of this amount. The IRS intends to file liens against SignalShare and may pursue personal action against the responsible SignalShare management team members if payment of the trust fund balance is not made within 90 days of September 30, 2015. SignalShare has committed to pay the outstanding trust fund amounts by the end of January, 2016. As a result of this matter, the Company has moved SignalShare’s payroll process to its corporate offices in order to strengthen the controls over the payroll functions. Series A Preferred Stock In light of the Company’s negative net asset position, absence of surplus, and lack of current or prior year earnings, the Company reviewed carefully its contractual and other obligations, including those purporting to require Holdings to make dividend payments on its Series A Preferred Stock, which was subsequently terminated. There can be no assurances that the Company’s review will result in a favorable outcome for the Company or that negotiations with preferred stockholders and related party consultants will be successful. If the Company is unable to reach such agreements on terms favorable to it, results of operations and financial condition may be materially adversely affected. SPHC has issued to Allied International Fund, shares of its Signal Point Holdings Corp. Series A Preferred Stock. The stock provided for the payment of dividends calculated as the greater of 1% of gross revenue or $50,000 per month, whichever is more. SPHC has paid $1,550,000 since inception in dividends to Allied authorized by the Company’s former sole director Robert DePalo, an affiliate. See October 26, 2015 transactions below for further discussion. SignalShare Office Lease SignalShare received notice on October 1, 2015 that its lease with Aerial Realty Corp. for office space in Morrisville, NC was being terminated due to non-payment and that the office location locks were changed. The Landlord expressed its intention to avail itself of all remedies under the lease including the collection of waived rent (equal to $21,875.00), attorney’s fees, brokerage fees and any other amounts due under the Lease which was under term until March 31, 2020 and approximate $287,000.00. The Company is reviewing its options and the Landlord’s claims and cannot determine the ultimate outcome at this time. October 26, 2015 Transactions On October 26, 2015, Roomlinx, Holdings and all of Holdings’s subsidiaries (the “Subsidiaries”) entered into the following transactions with certain preferred stock holders of Holdings and senior secured debt holders of Roomlinx and Holdings in accordance with the following documents (the “Debt and Preferred Stock Restructuring Documents”). The purpose of the transaction was to reduce the overall financial exposure of Roomlinx and give Roomlinx the maximum flexibility in management and raising additional capital for Roomlinx, while eliminating the preferences and certain controls of the Preferred Stock holders. ● Series A Preferred Termination, Loan and General Release Agreement (the “Series A Agreement”), by and among Holdings, Allied and Roomlinx solely with respect to the mutual releases described therein; ● Series B Preferred Termination, Consulting Agreement Modification and Settlement Agreement (the “Series B Agreement”), by and among Roomlinx, Holdings, the Subsidiaries and Robert DePalo (“DePalo”); ● Secured Promissory Note, issued by Holdings and all of its subsidiaries to Allied in the principal amount of $2,700,000 (the “Allied Note”), which is secured by the existing Security Agreement by and between Holdings and Allied, dated as of July 31, 2015. ● First Allonge and Amendment to the March 23, 2015 Promissory Note issued by Holdings to Allied, dated October 27, 2015 (the “Allied Allonge”) for a $240,000 loan. ● Loan Modification Letter Agreement, by and among Roomlinx, Holdings and Allied, dated as of October 27, 2015 (the “Allied Secured Modification”); extending the payment of the past due amounts and ● Loan Modification Letter Agreement, by and among Roomlinx, Holdings and Brookville Special Purpose Fund, LLC (“Brookville”), dated as of October 27, 2015 (the “Brookville Senior Secured Modification”), extending the payment of the past due amounts. ● Subject to the terms and conditions of the Series A Agreement and the Series B Agreement, each of Allied and DePalo agreed to the cancellation of the Series A and Series B Preferred Stock, respectively, issued by Holdings. In exchange for the cancellation the parties agreed to the following: a) Mutual releases of all claims between Roomlinx, Holdings, the Subsidiaries and each of Allied and DePalo (and certain affiliated and related parties). b) The secured debt of $3,200,000 owed by Holdings to Allied was reduced by $500,000, to $2,700,000 and payable over six and one-half years, in accordance with provisions described in the attached agreement. c) In connection with the cancellation of the Holdings Series B Preferred Stock, Roomlinx agreed that (subject to shareholder approval and the applicable laws and regulations) it would amend its charter and other relevant documents to provide for the following: (i) Roomlinx will not approve any reverse stock splits without the affirmative vote of the holders of at least fifty one percent (51%) of the issued and outstanding common stock; (ii) for a period of two (2) years Roomlinx will not issue any class of stock with supermajority voting rights; (iii) DePalo will have the right to appoint one member to the Board of Directors of Roomlinx, subject to such person not being a relative of DePalo and independent of DePalo; and (iv) Until the expiration of the Consulting Agreement, by and between Roomlinx and DePalo, DePalo will be entitled to a monthly payment of $17,500 that shall not be paid, but shall accrue, until Roomlinx and DePalo agree or Roomlinx obtains funding in the amount of $8,000,000 and thereafter payments of accrued arrears and regular payments will continue on a monthly basis for the term of the Consulting Agreement. d) Pursuant to the Allied Allonge and associated documents, Allied agreed to lend an additional $240,000 to Holdings, accruing interest at twenty percent (20%) per annum and shall be repaid no later than November 23, 2015. The obligations under the Note (as amended) are secured by an assignment of all the receivables of Signal Point Telecommunications Corp, a wholly owned subsidiary of Holdings in the event of a default Allied will take procession of all receivables and liquidate them to satisfy its loan and expenses including, but not limited to, legal fees. e) Pursuant to the Brookville Senior Secured Modification, Roomlinx, Holdings and all of its Subsidiaries agreed to a new payment schedule for the debt owed by Holdings in accordance with the terms set forth in the attached agreement. f) Pursuant to the Brookville Senior Secured Modification, Roomlinx and Holdings agreed to a new payment schedule in accordance with the terms set forth in the attached agreement: On December 7, 2015, SignalShare, LLC. received a demand for payment in the amount of approximately $824,000 associated with equipment purchased by SignalShare from Extreme Networks, Inc. The demand also provides that interest on the balance, accruing at 18 %, per annum, will accrue from the due date of each respective invoice. The letter further provides that if payment is received by December 15, 2015, Extreme Networks will waive interest on the balance. This balance is included in accounts payable as of June 30, 2015. Subsequent stock issuances From June 30, 2015 through December 7, 2015 the Company has issued an additional 700,815 shares of common stock through private placement memorandum at $1.80 per share.

Summary of Significant Accoun29

Summary of Significant Accounting Policies and Principles of Consolidation (Policies)	6 Months Ended
	Jun. 30, 2015
Summary Of Significant Accounting Policies And Principles Of Consolidation Policies
Discontinued Operations	During the year ended December 31, 2013, the Company closed down the operations of SPC. This decision was made as a result of a continuing decline in revenues, increasing costs and Federal and state regulatory environment that continued to pressure margins in the SPC businesses. As a result of the decision to shut down SPC, all applicable employees were terminated, as were leases for facilities and office space. Meeting the definition under applicable accounting standards of a discontinued operation, all periods presented have been reclassified to present these operations as discontinued operations. Financial information in the consolidated financial statements and related notes have also been revised to reflect the results of the discontinued operations for all periods presented (See Note 6). SPC operated in the communications services industry providing voice, data, and Internet services through residential and commercial telephone service, Voice over Internet Protocol (“VoIP”) enabled services, prepaid and post-paid calling cards, conference calling, and wholesale carrier terminations. It was a registered and certified competitive local exchange carrier (“CLEC”) providing local exchange services primarily in the New England region, and was also a licensed and registered interexchange carrier (“IXC”) or “long distance” carrier, providing domestic and international long distance services. SPC marketed its services to customers either directly or through reseller channels. During the year ended December 31, 2013, SSI terminated all hotel contracts serviced by Cardinal Hospitality, Ltd. (see Note 4) meeting the definition under applicable accounting standards for discontinued operations. The liabilities assumed in connection with the reverse acquisition included $117,573 related to Cardinal Hospitalility, Ltd., which has been included in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2015 under the line item of “Current liabilities of discontinued operations”.
Reclassification	Certain amounts in the prior period financial statements have been reclassified to conform to the current year presentation. These reclassifications had no effect on reported net loss.
Use of Estimates	The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The accounting estimates that require management’s most significant and subjective judgments include revenue recognition, the valuation of long-lived assets, goodwill, the valuation and recognition of stock-based compensation expense and acquired indefinite-lived intangible assets. In addition, the Company has other accounting policies that involve estimates such as the allowance for doubtful accounts, revenue reserves, the determination of the useful lives of long-lived assets, the recognition of the fair value of assets acquired and liabilities assumed in business combinations, accruals for estimated tax and legal liabilities, valuation allowance for deferred tax assets, and cost of revenue disputes for communications services. Actual results may differ from these estimates under different assumptions or conditions and such differences could be material.
Cash and cash equivalents	For purposes of financial statements presentation, the Company considers all highly liquid investments with maturities of three months or less to be cash and cash equivalents.
Accounts Receivable and Allowance for Doubtful Accounts	The Company extends credit to certain customers in the normal course of business, based upon credit evaluations, primarily with 30 – 60 day terms. The Company’s reserve requirements are based on the best facts available to the Company and are reevaluated and adjusted as additional information is received. The Company’s reserves are also based on amounts determined by using percentages applied to certain aged receivable categories. These percentages are determined by a variety of factors including, but not limited to, current economic trends, historical payment and bad debt write-off experience. Accounts are written off when they are deemed uncollectible. Further, during 2014, SignalShare entered into an agreement with one of its customers, whereby the collections would be made in 36 monthly installments. As of June 30, 2015 and December 31, 2014, $167,820 and $209,775 and $153,835 and $335,640 were accounted as “Accounts Receivable Short Term Direct” and “Accounts Receivable Long Term Direct” was included in “Other assets” in the accompanying consolidated balance sheets, respectively. The Company evaluated outstanding customer invoices for collectability. The assessment and related estimates are based on current credit-worthiness and payment history. As of June 30, 2015 and December 31, 2014, the Company recorded an allowance for doubtful accounts in the amount of approximately $71,000 and $-0-, respectively.
Inventory	Inventory, principally large order quantity items which are required for the Company’s media and entertainment installations, is stated at the lower of cost (first-in, first-out) basis or market. The Company generally maintains only the inventory necessary for contemplated installations. Work in process represents the cost of equipment related to installations which were not yet completed. The Company performs an analysis of slow-moving or obsolete inventory periodically, and any necessary valuation reserves, which could potentially be significant, are included in the period in which the evaluations are completed. As of June 30, 2015 and December 31, 2014, the inventory obsolescence reserve of $120,000 and $-0-, respectively, was mainly related to raw materials, and results in a new cost basis for accounting purposes.
Leases Receivable	Leases receivable represent direct sales-type lease financing to cover the cost of installation. These transactions result in the recognition of revenue and associated costs in full upon the customer’s acceptance of the installation project and give rise to a lease receivable equal to the gross lease payments and unearned income representing the implicit interest in these lease payments. Unearned income is amortized over the life of the lease to interest income on a monthly basis. The carrying amounts of leases receivable are reduced by a valuation allowance that reflects the Company's best estimate of the amounts that may not be collected. This estimate is based on an assessment of current creditworthiness and payment history. As of June 30, 2015 and December 31, 2014 no valuation allowance was necessary.
Property, equipment, and software	Property, equipment, and software are recorded at cost, using the straight-line method over the estimated useful life of the related assets as shown below. Telephone equipment 5 – 9.5 years Machinery and equipment 3 – 10 years Furniture and fixtures 5 – 7 years Vehicles 4 – 5 years Leasehold improvements 3 years Computer software 3 years Leasehold improvements are depreciated over the shorter of their estimated useful lives or their reasonably assured lease terms. Major improvements that extend the useful life or add functionality to property are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. At the time of retirement or other disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any gains or losses are reflected in the consolidated statements of operations. The Company performs periodic internal reviews to determine depreciable lives of its property, equipment and software based on input from Company personnel, actual usage and the physical condition of the Company’s property, equipment and software.
Software Development	At June 30, 2015 and December 31, 2014, SignalShare had incurred and capitalized $483,276 and $444,218, respectively, in software development costs related to its Live-Fi software system. The amounts capitalized represent the costs incurred for the use of outside vendors and do not include the capitalization of internal software development costs. The Live-Fi software amount is included in the accompanying consolidated balance sheets under the line item “Other assets.” It is anticipated that the Live-Fi software will be fully developed in 2015 and a useful life will be determined at that time. The software will be amortized over its useful life beginning in the second half of 2015.
Accounts Payable Claims and Disputes	The Company has established a systematic approach to record accounts payable based on invoice amount, net of claims filed and acknowledged by vendors, as well as any additional credits received. Billings from carriers frequently require adjustment to reflect the Company’s correct usage of those carrier services. All claims by the Company against vendors are netted against payables to those vendors and expect to be settled through credits issued by vendors. Any additional credits received such as late fees usually waived by vendors, are generally insignificant.
Revenue Recognition	SPTC derives the majority of its revenue from monthly recurring fees and usage-based fees that are generated principally by sales of its network, carrier and subscription services and SignalShare derives revenues from the construction of both temporary and permanent broadband installation services at large event forums. Monthly recurring fees include the fees paid by SPTC’s network and carrier services customers for lines in service and additional features on those lines. SPTC primarily bills monthly recurring fees in advance, and recognizes the fees in the period in which the service is provided. Usage-based fees consist of fees paid by SPTC’s network and carrier services customers for each call made. These fees are billed in arrears and recognized in the period in which the service is provided. Subscriber fees include monthly recurring fees paid by SPTC’s end-user subscribers for lines in service, additional features on those lines, and usage-based per-call and per-minute fees. Subscriber fees also consist of provision of access to data, wireless, and VoIP services. These fees are billed in advance for monthly recurring items and in arrears for usage-based items, and revenues are recognized in the period in which service is provided. SignalShare product sales are only recognized as revenue at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery or service is completed, no other significant obligations of the Company exist and collectability is reasonably assured. SPTC and SignalShare also recognize revenue on the basis of the milestone method for revenue recognition for services delivered related to the installation of temporary or permanent wireless Internet solutions as per the contract arrangement and when the performance and acceptance criteria have been met and agreed to by the customer. Revenue arises from setting up a Wi-Fi network for an event, an equipment sales contract, an equipment rental contract, consulting services and support and maintenance contracts. The table below describes the accounting for the various components of SignalShare’s revenues. Product Recognition Policy Event Services (Setting up a Wi-Fi network) Workshops and Workshop Certificates Deferred and recognized upon the completion of the event Equipment sales Recognized at the time delivered and installed at the customer location Equipment rental contract Deferred and recognized as services are delivered, or on a straight-line basis over the initial term of the rental contract Consulting services (on Wi-Fi networks, installation, maintenance) Recognized as services are delivered Support and Maintenance contract Deferred and recognized on a straight-line basis over the term of the arrangement SSI derives its revenue from the installation and ongoing services of in-room media, entertainment, and HD television programming solutions in addition to wired networking solutions and WiFi Fidelity networking solutions. Revenue is recognized when all applicable recognition criteria have been met, which generally include a) persuasive evidence of an existing arrangement; b) fixed or determinable price; c) delivery has occurred or service has been rendered and; d) collectability of the sales price is reasonably assured. Installations and service arrangements are contractually predetermined and such contractual arrangements may provide for multiple deliverables, revenue is recognized in accordance with ASC Topic 650, Multiple Deliverable Revenue. The application of ASC Topic 650 may result in the deferral of revenue recognition for installations across the service period of the contract and the re-allocation and/or deferral of revenue recognition across various service arrangements. Below is a summary of such application of the revenue recognition policy as it relates to installation and service arrangements SSI has with its customers. SSI enters into contractual arrangements to provide multiple deliverables which may include some or all of the following - system installations and a variety of services related to high speed internet access, free-to-guest, video on demand and iTV systems as well as residential phone, internet and television. Each of these elements must be identified and individually evaluated for separation. The term “element” is used interchangeably with the term “deliverable” and SSI considers the facts and circumstances as it relates to its performance obligations in the arrangement and includes product and service elements, a license or right to use an asset, and other obligations negotiated for and assumed in the agreement. Analyzing an arrangement to identify all of the elements requires the use of judgment. In the determination of the elements included in Roomlinx agreements, embedded software and inconsequential or perfunctory activities were taken into consideration. Once the Deliverables have been identified, we determine the relative fair value of each element under the concept of Relative Selling Price (“RSP”) for which SSI applied the hierarchy of selling price under ASC Topic 605 as follows: VSOE - Vendor specific objective evidence (“VSOE”) is still the most preferred criteria with which to establish fair value of a deliverable. VSOE is the price of a deliverable when a company sells it on an open market separately from a bundled transaction. TPE - Third party evidence (“TPE”) is the second most preferred criteria with which to establish fair value of a deliverable. The measure for the pricing of this criterion is the price that a competitor or other third party sells a similar deliverable in a similar transaction or situation. RSP - RSP is the price that management would use for a deliverable if the item were sold separately on a regular basis which is consistent with company selling practices. The clear distinction between RSP and VSOE is that under VSOE, management must sell or intend to sell the deliverable separately from the bundle, or has sold the deliverable separately from the bundle already. With RSP, a company may have no plan to sell the deliverable on a stand-alone basis. Hospitality Installation Revenues Hospitality installations include High Speed Internet Access (“HSIA”), Interactive Television (“iTV”), Free to Guest (“FTG”) and Video on Demand (“VOD”). Under the terms of these typical product sales and equipment installation contracts, a 50% deposit is due at the time of contract execution and is recorded as deferred revenue. Upon the completion of the installation process, deferred revenue is realized. However, in some cases related to VOD installations or upgrades, the Company extends credit to customers and records a receivable against the revenue recognized at the completion of the installation. Additionally, SSI may provide the customer with a lease financing arrangement provided the customer has demonstrated its credit worthiness to the satisfaction of SSI. Under the terms and conditions of the lease arrangements, these leases have been classified and recorded as Sale-Type Leases under ASC Topic 840-30 and accordingly, revenue is recognized upon completion and customer acceptance of the installation which gives rise to a lease receivable and unearned income. Hospitality Service, Content and Usage Revenues SSI provides ongoing 24/7 support to both its hotel customers and their guests, content and maintenance as applicable to those products purchased, installed and serviced under contract. Generally, support is invoiced in arrears on a monthly basis with content and usage, which are dependent on guest take rates and buying habits. Service maintenance and usage revenue also includes revenue from meeting room services, which are billed as the events occur. At times, SSI will enter into arrangements with its customers in which a minimum revenue amount earned from content in a specific hotel will be agreed to by both parties. If the revenue earned by the Company exceeds this minimum revenue amount for a defined period (“Revenue Overage”), SSI may be required to pay to the customer an amount up to the Revenue Overage. The related Revenue Overage amount is recorded as a reduction of the hospitality services revenue. Residential Revenues Residential revenues consist of equipment sales and installation charges, support and maintenance of voice, internet, and television services, and content provider residuals, installation commissions, and management fees. Installations charges are added to the monthly service fee for voice, internet, and television, which is invoiced in advance creating deferred revenue to be realized in the appropriate period. SSI’s policy prohibits the issuance of customer credits during the month of cancelation. SSI earns residuals as a percent of monthly customer service charges and a flat rate for each new customer sign up. Residuals are recorded monthly. Commissions and management fees are variable and therefore revenue is recognized at the time of payment. The Company recognizes revenue in accordance with accounting principles generally accepted in the United States (“US GAAP”), specifically Accounting Standards Codification (“ASC”) 605 “Revenue Recognition,” which requires satisfaction of the following four basic criteria before revenue can be recognized: a. There is persuasive evidence that an arrangement exists; b. Delivery has occurred or services have been rendered; c. The fee is fixed and determinable; and d. Collectability is reasonably assured. The Company bases its determination of the third and fourth criteria above on the Company’s judgment regarding the fixed nature of the fee it has charged for the services rendered and products delivered, and the prospects that those fees will be collected. If changes in conditions should cause it to determine that these criteria likely will not be met for some future transactions, revenue recognized for any reporting period could be materially adversely affected. Company management continually reviews and evaluates the collectability of revenues. For further information, please see “Accounts Receivable and Allowance for Doubtful Accounts.” The Company’s management makes estimates of future customer credits and settlements due to various disputes on pricing and other terms of the contracts, through the analysis of historical trends and known events. Provisions for customer credits and settlements are recorded as a reduction of revenue when incurred and estimable. Since any revenue allowances are recorded as an offset to revenue, any future increases or decreases in the allowances will positively or negatively affect revenue by the same amount.
Deferred Revenue and Customer Prepayments	SPTC bills customers in advance for certain of its telecommunications services. If the customer makes payment before the service is rendered to the customer, SPTC records the payment in a liability account entitled customer prepayments and recognizes the revenue related to the communications services when the customer receives and utilizes that service, at which time the earnings process is complete. SignalShare, from time to time, enters into leasing transactions to finance certain customer projects. In these leasing transactions, SignalShare receives payment from the third-party leasing company and uses the cash received to fund the project. All revenues related to these types of projects are deferred until the project is completed and the customer has approved the installation. At that time, SignalShare records the revenue previously deferred as it has no further obligation to the customer and the earnings process is complete. As of June 30, 2015 and December 31, 2014, SignalShare recorded $632,219 and $737, respectively, in deferred revenue and $892,627 and $398,732, respectively, in prepaid expenses for incomplete customer projects.
Advertising Costs	Advertising costs are expensed as incurred. Advertising expense for the three months ended June 30, 2015 and 2014 were approximately $10,795 and $13,322, respectively. Advertising expense for the six months ended June 30, 2015 and 2014 were approximately $295,764 and $14,247, respectively.
Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of services, insurance, maintenance contracts and refundable deposits. Other than refundable deposits, prepayments are expensed on a straight-line basis over the corresponding life of the underlying agreements.
Cost of sales	Cost of sales consists primarily of leased transport charges and usage costs for local and long distance calls. Leased transport charges are the payments the Company makes to lease the telephone and data transmission lines it uses to connect customers to the Company’s network and to connect the Company’s network to the networks of other carriers. Usage costs for local and long distance calls are the costs incurred to connect the calls made by customers that are terminated on the networks of other carriers. These costs may include an estimate of charges for which invoices have not yet been received, and may be based upon the estimated number of transmission lines and facilities in service, estimated minutes of use, estimated amounts accrued for pending disputes with other carriers, as well as upon the contractual rates charged by the Company’s service providers. Subsequent adjustments to these estimates may occur after the bills are received for the actual costs incurred, but these adjustments generally are not expected to have a material impact on the operating results based on management’s historical experience. Judgment is required in estimating the ultimate outcome of the dispute resolution process, as well as any other amounts that may be incurred to conclude the negotiations or settle any litigation. Actual results may differ from estimates and such differences could be material.
Selling, General and Administrative Expenses	The Company’s selling, general and administrative expenses are defined as expenses incurred by the Company that relate directly to the day-to-day operations and the administration of the Company. These costs consist primarily of, but are not limited to, compensation, depreciation and amortization, commissions, selling and marketing, customer service, billing, corporate administration, engineering, personnel and other costs.
Concentration of Credit Risk	Financial instruments that potentially subject the Company to credit risk consist of cash, cash equivalents and accounts receivable. Exposure to losses on accounts receivable is principally dependent on each customer’s financial condition. The Company monitors its exposure for customer credit losses and maintains allowances for anticipated losses. The Company places its cash and cash equivalents in financial institutions insured by the Federal Depository Insurance Corporation, to the maximum amount of that coverage. Additionally, the Company limits its amount of credit exposure to any one institution. The Company has never experienced any losses in these accounts and believes that its credit risk exposure with respect to cash balances held by depository institutions is limited.
Concentrations	The Company currently leases its transport capacity from a limited number of suppliers and is dependent upon the availability of transmission facilities owned by the suppliers. The Company is vulnerable to the risk of renewing favorable supplier contracts and timeliness of the supplier in processing the Company’s orders for customers, and is at risk related to regulation and regulatory developments that govern the rates to be charged to the Company and, in some instances, whether certain facilities are required to be made available to the Company. The Company has two major suppliers: Verizon Communications, Inc. and Level 3 that accounted for a combined 49%, and 53% and 49% and 57% of its carrier cost of services for the three and six months ended June 30, 2015 and 2014, respectively. The Company has no other supplier that accounts for greater than 10% of the Company’s costs of services. The Company has no other supplier that accounts for greater than 10% of the Company’s costs of services.
Goodwill	Goodwill represents the excess of cost over the fair value of net assets of businesses acquired. In accordance with the provisions of ASC 350 “Intangibles — Goodwill and Other” (“ASC 350”), the Company does not amortize goodwill or other acquired intangible assets with indefinite useful lives. The Company has identified two reporting units as defined in ASC 350. Goodwill is assessed for impairment at least annually, based upon the Company’s estimate of the fair value of the reporting units. The Company assesses the carrying value of its goodwill at December 31 of each fiscal year. In accordance with the Intangibles - Goodwill and Other Topic, goodwill of a reporting unit will also be tested for impairment between annual tests if a triggering event occurs, as defined by the “Intangibles – Goodwill and Other Topic,” that could potentially reduce the fair value of the reporting unit below its carrying value. Testing for impairment of goodwill per US GAAP follows a two-step impairment test model and, an additional, initial qualitative assessment related to goodwill impairment. In accordance with the relevant accounting standards, the Company has chosen not to implement this initial qualitative assessment in making its impairment decision with respect to goodwill recorded in its accounts and has proceeded directly to step 1 as explained below: Step 1. The carrying amount of the asset is compared with the undiscounted cash flows it is expected to generate. If the carrying amount is lower than the undiscounted cash flows, no impairment loss is recognized and Step 2 is not necessary. If the carrying amount is higher than the undiscounted cash flows, then Step 2 quantifies the impairment loss. Step 2. An impairment loss is measured as the difference between the carrying amount and fair value. Fair value is defined as the price that would be received to sell an asset or that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company determined that at March 31, 2015 the goodwill created through the Company’s reverse acquisition in connection with the SMA could not be supported through the projected future cash flows of the Company. Accordingly, the Company determined that the goodwill arising from the March 27, 2015 reverse acquisition transaction was impaired and an impairment charge of $42,847,066 was included in the operating loss during the six months ended June 30, 2015.
Impairment of Long Lived Assets	In accordance with ASC 360 “Property, Plant, and Equipment” (the “PP&E Topic”), long-lived assets are periodically evaluated for potential impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. In the event that periodic assessments determine that the carrying amount of the asset exceeds the sum of the undiscounted cash flows (excluding interest on any borrowings used to fund the assets) that are expected to result from the use and eventual disposition of the asset, the Company would recognize an impairment loss to the extent the carrying amount exceeded the fair value of the property. The Company estimates the fair value using available market information or other industry valuation techniques such as present value calculations. In connection with the “Section 363 Sale,” property, plant and equipment acquired from the Predecessor Company were valued at its then fair value. There has been no indication since then that the fair value of that property, plant and equipment has declined.
Other Assets	Other assets consist primarily of security deposits and deposits made to suppliers.
Fair Value of Financial Instruments	We adopted the guidance of ASC 820 for fair value measurements which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: Level 1 — Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2 — Inputs are quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3 — Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The carrying amounts reported in the consolidated balance sheets for cash, accounts receivable, prepaid expenses, other current assets, accounts payable, accrued expenses, loans payable, deferred revenue and other current liabilities approximate their fair market value based on the short term maturity of these instruments. ASC 825-10 “Financial Instruments,” allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding financial instruments.
Foreign Currency Translation and Comprehensive Income (Loss)	The US Dollar is the functional currency of the Company. Assets and liabilities denominated in foreign currencies are re-measured into US Dollars at each reporting period-end exchange rates. Income and expenses are translated at an average exchange rate for the reporting periods, equity is translated at historical rates and the resulting translation gain (loss) adjustments are accumulated as a separate component of shareholders’ deficit. Foreign currency gains and losses from transactions denominated in other than respective local currencies are included in other income (expense) in the consolidated statements of operations and comprehensive loss.
Noncontrolling Interest	The Company recognizes non-controlling interest as equity in the consolidated financial statements separate from the parent company’s equity (deficit). Non-controlling interest results from a partner in Arista Communications, LLC (“Arista”), which the Company owned 50% of Arista. The amount of net income (loss) attributable to non-controlling interests is included in consolidated net income (loss) on the consolidated statements of operations and comprehensive loss. For the three and six months ended June 30, 2015, the non-controlling interests’ share of net loss totaled $2,418 and $2,750 (for the period from the reverse acquisition consummation date, March 27, 2015 through June 30, 2015), respectively. Additionally, operating losses are allocated to non-controlling interests even when such allocation creates a deficit balance for the non-controlling interest member.
Earnings Per Share	The Company computes earnings per share by dividing net income (loss) by the weighted average number of shares of common stock and dilutive common stock equivalents outstanding during the period. Dilutive common stock equivalents consist of shares issuable upon the exercise of the Company's stock options and warrants. Potentially dilutive securities, purchase stock options and warrants, are excluded from the calculation when their inclusion would be anti-dilutive, such as periods when a net loss is reported or when the exercise price of the instrument exceeds the fair market value. Accordingly, the weighted average shares outstanding have not been adjusted for dilutive shares. Outstanding stock options and warrants are not considered in the calculation as the impact of the potential common would be anti-dilutive.
Income Taxes	The Company accounts for income taxes using the asset/liability method prescribed by ASC 740, “Accounting for Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date. The Company applied the provisions of ASC 740-10-50, “Accounting for Uncertainty in Income Taxes,” which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. As of June 30, 2015, the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.
Legal and Contingency Reserves	The Company accounts for legal and other contingencies in accordance with ASC 450 “Contingencies.” Loss contingencies are accrued by a charge to income if two conditions are met. The first condition is that information existing prior to the issuance of the consolidated financial statements indicates that it is probable that an asset has been impaired or a liability has been incurred at the date of the consolidated financial statements. It is implicit in this condition that it must be probable that one or more future events will occur confirming the fact of the loss. The second condition is that the amount of the loss can be reasonably estimated. There were no legal or contingency reserves that met the requirements to be recorded. See Note 21 for discussion of legal and contingency matters.
Recent Accounting Pronouncements	ASU 2015-15 In August 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) 2015-15, “Interest - Imputation of Interest (Subtopic 835-30).” ASU 2015-15 provides guidance as to the presentation and subsequent measurement of debt issuance costs associated with line of credit arrangements. We do not expect the adoption of ASU 2015-15 to have a material effect on our financial position, results of operations or cash flows. ASU 2015-14 In August 2015, the FASB issued ASU No. 2015-14, Revenue From Contracts With Customers (Topic 606)." The amendments in this ASU defer the effective date of ASU 2014-09. Public business entities should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. We are still evaluating the effect of the adoption of ASU 2014-09. ASU 2015-11 In July 2015, the FASB issued ASU No. 2015-11, "Simplifying the Measurement of Inventory (Topic 330)." ASU 2015-11 simplifies the accounting for the valuation of all inventory not accounted for using the last-in, first-out ("LIFO") method by prescribing that inventory be valued at the lower of cost and net realizable value. ASU 2015-11 is effective for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016 on a prospective basis. We do not expect the adoption of ASU 2015-11 to have a material effect on our financial position, results of operations or cash flows. ASU 2015-05 In April 2015, the FASB issued ASU 2015-05, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40)." ASU 2015-05 provides guidance regarding the accounting for a customer's fees paid in a cloud computing arrangement; specifically about whether a cloud computing arrangement includes a software license, and if so, how to account for the software license. ASU 2015-05 is effective for public companies' annual periods, including interim periods within those fiscal years, beginning after December 15, 2015 on either a prospective or retrospective basis. Early adoption is permitted. We do not expect the adoption of ASU 2015-05 to have a material effect on our financial position, results of operations or cash flows. ASU 2015-03 In April 2015, the FASB issued ASU No. 2015-03, "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs." The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The amendments are effective for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. The amendments are to be applied on a retrospective basis, wherein the balance sheet of each individual period presented is adjusted to reflect the period-specific effects of applying the new guidance. We do not expect the adoption of ASU 2015-03 to have a material effect on our financial position, results of operations or cash flows. There were various other updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to a have a material impact on the Company’s financial position, results of operations or cash flows.

Reverse Acquisition (Tables)

Reverse Acquisition (Tables)	6 Months Ended
	Jun. 30, 2015
Reverse Acquisition Tables
Summary of assets acquired and liabilities assumed from the reverse acquisition transaction	Property and equipment $ 78,807 Cash in bank 812,756 Account receivable 856,282 Leases receivable 575,471 Prepaid expenses 151,604 Inventory 129,665 Other assets 83,215 Current liabilities (5,922,133 ) Debt (3,640,839 ) Liabilities of discontinued operations (117,573 ) Other liabilities (144,807 ) Class A preferred stock (144,000 ) Goodwill 42,847,066 Total $ 35,565,514

Summary of Significant Accoun31

Summary of Significant Accounting Policies and Principles of Consolidation (Tables)	6 Months Ended
	Jun. 30, 2015
Summary Of Significant Accounting Policies And Principles Of Consolidation Tables
Schedule of property and equipment	Telephone equipment 5 – 9.5 years Machinery and equipment 3 – 10 years Furniture and fixtures 5 – 7 years Vehicles 4 – 5 years Leasehold improvements 3 years Computer software 3 years

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2015
Acquisitions Tables
Schedule of recognized amounts of assets acquired	Identifiable intangible assets. $ 1,800,000 Total consideration $ 1,800,000

The Shutdown of SPC and CHL a33

The Shutdown of SPC and CHL and their Presentation as Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2015
Shutdown Of Spc And Chl And Their Presentation As Discontinued Operations Tables
Schedule of comprehensive loss related to the asset group serviced by CHL	Loss from Discontinued Operations (unaudited) For the three months ended June 30, 2015 2014 Revenues $ - $ - Cost of sales - - Gross profit - - Selling, general and administrative expenses - 3,212 Other expenses. - - Other income. - - Loss from discontinued operations before income taxes - (3,212 ) Income taxes. - - Loss from discontinued operations, net of tax. $ - $ (3,212 ) For the six months ended June 30, 2015 2014 Revenues $ - $ - Cost of sales - - Gross profit - - Selling, general and administrative expenses - 81,122 Other expenses. - - Other income. - - Loss from discontinued operations before income taxes - (81,122 ) Income taxes. - - Loss from discontinued operations, net of tax. $ - $ (81,122 ) Assets and Liabilities of Discontinued Operations Balance at June 30, 2015 December 31, 2014 (unaudited) Assets Cash $ - $ - Total current assets - - Other assets - - Total assets of discontinued operations $ - $ - Liabilities Accounts payable and accrued expenses $ 3,254,934 $ 3,138,056 Other liabilities - - Total liabilities of discontinued operations $ 3,254,934 $ 3,138,056

Leases Receivable (Tables)

Leases Receivable (Tables)	6 Months Ended
	Jun. 30, 2015
Leases Receivable Tables
Schedule of future minimum receipts on leases receivable	Years Ended June 30, Minimum Receipts 2016 $ 369,199 2017 126,707 2018 4,998 $ 500,904

Property, Equipment and Softw35

Property, Equipment and Software, net (Tables)	6 Months Ended
	Jun. 30, 2015
Property Equipment And Software Net Tables
Summary of Property, Equipment and Software, net (Tables)	Balance at June 30, 2015 December 31, 2014 (unaudited) Property, Equipment and Software Machinery and equipment $ 6,037,319 $ 5,146,279 Equipment offsite 121,808 121,808 Furniture, fixtures and equipment 773,750 145,154 Software. 279,502 127,060 Trucks and autos 36,040 36,040 Total property, equipment and software 7,248,419 5,576,341 Less: accumulated depreciation (6,729,268 ) (5,130,085 ) Property, equipment and software, net $ 519,151 $ 446,256

Capital Lease Obligations (Tabl

Capital Lease Obligations (Tables)	6 Months Ended
	Jun. 30, 2015
Capital Lease Obligations Tables
Capital Lease Obligations	June 30, 2015 December 31, 2014 (unaudited) Capital Lease Property Machinery & equipment $ 550,278 $ 564,228 Software 125,587 125, 587 Less: Accumulated depreciation (238,402 ) (274,815 ) Net capital lease property $ 437,463 $ 415,000
Future minimum lease obligations under the capital leases	Year Amount 2016 $ 3,712,391 2017 3,574,375 2018 1,441,792 2019 7,379 Total 8,735,937 Less – amounts representing interest (1,222,147 ) Present value of net minimum lease payments 7,513,790 Less: Current portion (2,937,889 ) Net long-term portion $ 4,575,901
Lease related accounts receivable and the lease obligations	Balance at June 30, 2015 December 31, 2014 (unaudited) Lease accounts receivable Current portion (accounts receivable) $ 139,334 $ 149,507 Long-term portion (other assets) 129,920 208,086 Total lease accounts receivable $ 269,254 $ 357,593 Lease obligations Current portion (capital leases payable) $ 139,334 $ 149,507 Long-term portion (non-current lease obligations). 129,920 208,086 Total lease obligations $ 269,254 $ 357,593
Summary of Signal Share lease transactions	Capital Leases Finance Leases Total as of June 30, 2015 Leases payable - current portion $ 2,937,889 $ 139,334 $ 3,077,223 Leases payable - long tern portion 4,575,901 129,920 4,705,821 Total leases payable $ 7,513,790 $ 269,254 $ 7,783,044

Line of Credit (Tables)

Line of Credit (Tables)	6 Months Ended
	Jun. 30, 2015
Line Of Credit Tables
Schedule of future minimum payments under line of credit	Years ended June 30, Minimum Payments 2016 $ 1,632,896 2017 2,296,104 $ 3,929,000

Notes Payable - Related Parti38

Notes Payable - Related Parties (Tables)	6 Months Ended
	Jun. 30, 2015
Notes Payable - Related Parties Tables
Summary of the outstanding balance of the various notes payable	Balance at June 30, 2015 December 31, 2014 (unaudited) Brookville Special Purpose Fund $ 2,182,162 $ 2,284,161 Veritas High Yield Fund, net of $19,746 and $43,258 unamortized debt discount at June 30, 2015 and December 31, 2014, respectively 485,578 615,470 Allied International Fund, Inc. 330,000 - Total notes payable – related parties 2,997,740 2,899,631 Less: current portion of notes payable – related parties (2,997,740 ) ( 832,030 ) Long-term portion of notes payable, related party $ - $ 2,067,601
Schedule of principal payments for the Brookville Special Purpose Fund note payable	Year Amount 2016 $ 3,017,486 Less: unamortized debt discount (19,746 ) Total notes payable – related parties $ 2,997,740

Notes Payable (Tables)

Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2015
Notes Payable Tables
Schedule of outstanding notes payable	Amount FCC note $ 15,216 NFS bridge loans 747,113 Seagell short term note 80,000 Tran short term note 300,000 Total 1,142,329 Less: Current portion (1,140,034 ) Net long-term portion $ 2,295
Schedule of future minimum payments for notes payable	Years ended June 30, Minimum Payments 2016 $ 1,140,034 2017 2,295 $ 1,142,329

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2015
Accrued Expenses Tables
Consist of Accrued expenses	Balance at June 30, 2015 December 31, 2014 (unaudited) Cost of service $ 543,815 $ 498,193 Selling, general and administrative expense 506,572 278,852 Compensation 825,147 135,016 Total $ 1,875,534 $ 912,061

Operating Lease Commitments (Ta

Operating Lease Commitments (Tables)	6 Months Ended
	Jun. 30, 2015
Operating Lease Commitments Tables
Summary the future minimum lease commitments under non-cancelable operating office leases	March 31, Amount 2016 $ 418,298 2017 362,031 2018 342,998 2019 301,161 2020 45,056 Total $ 1,469,544

Warrants, Stock Option Plans 42

Warrants, Stock Option Plans and Stock Appreciation Rights (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Warrants Stock Option Plans And Stock Appreciation Rights Tables
Summary of warrant activity	Shares Underlying Warrants Weighted Average Exercise Price Weighted Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding at January 1, 2015 - $ - Issued 250,000 1.80 Warrants assumed through reverse acquisition 15,380 203.88 Expired/Cancelled (14,833 ) 201.44 Outstanding and exercisable at June 30, 2015 250,547 $ 2.39 4.64 $ -
Summary of stock option activity under the Stock Option Plan is presented	Shares Underlying Options Weighted Average Exercise Price Weighted Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding at January 1, 2015 795,000 $ 1.80 Granted and Issued 4,885,000 1.80 Options assumed through reverse acquisition 14,221 97.92 Expired/Cancelled (44,269 ) 8.96 Outstanding at June 30, 2015 5,649,953 $ 1.99 4.69 $ - Exercisable at June 30, 2015 1,737,710 $ 2.38 4.72 $ - Un-exercisable at June 30, 2015 3,912,243 $ 1.81 4.68 $ -
Estimation of stock-based compensation related to the SARs granted	2015 Expected term 3 years Expected volatility 216 % Risk free interest rate 0.92 % Dividend yield 0 %	2014 Expected term 2 years Expected volatility 221 % Risk free interest rate 0.48 % Dividend yield 0 %
Summary of SAR activity	Shares Underlying SARs Weighted Average Exercise Price Weighted Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding at January 1, 2015 15,500,000 $ 0.28 Granted and Issued 9,750,000 0.59 SARs Assumed through reverse acquisition - - Expired/Cancelled - - Outstanding at June 30, 2015 25,250,000 $ 0.40 2.22 $ - Exercisable at June 30, 2015 7,750,000 $ 0.28 1.76 $ - Un-exercisable at June 30, 2015 17,500,000 $ 0.45 2.43 $ -

Arista Communications, LLC. (Ta

Arista Communications, LLC. (Tables)	6 Months Ended
	Jun. 30, 2015
Arista Communications Llc. Tables
Schedule of financial information of joint venture	Three Months Ended June 30, 2015 Period from March 27, 2015 to June 30, 2015 Revenue $ 18,839 $ 19,617 Direct Costs (15,325 ) (16,407 ) Operating expenses (8,351 ) (8,711 ) Net loss $ (4,837 ) $ (5,501 )

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Information Tables
Schedule of financial information of segments	Broadband and VOIP WiFi Hospitality Corporate Totals Three months ended June 30, 2015 Revenues $ 2,739,594 $ 1,020,010 $ 1,891,991 $ - $ 5,651,595 Operating (loss) income $ (565,630 ) $ (1,187,310 ) $ 65,535 $ (6,495,801 ) $ (8,183,206 ) Net (loss) income attributable to common shareholders $ (565,630 ) $ (1,439,964 ) $ 67,953 $ (6,929,692 ) $ (8,867,333 ) Three months ended June 30, 2014 Revenues $ 2,784,435 $ 573,913 $ - $ - $ 3,358,348 Operating loss $ (900,475 ) $ (352,129 ) $ - $ (427,294 ) $ (1,679,898 ) Net loss attributable to common shareholders $ (900,475 ) $ (315,063 ) $ - $ (677,616 ) $ (1,893,154 ) Financial information for our segment for the six months ended June 30, 2015 and 2014, is as follows: Broadband and VOIP WiFi Hospitality Corporate Totals Six months ended June 30, 2015 Revenues $ 5,507,986 $ 1,366,184 $ 1,980,286 $ - $ 8,854,456 Operating loss $ (1,155,081 ) $ (2,899,638 ) $ 74,101 $ (52,613,674 ) $ (56,594,292 ) Net loss attributable to common shareholders $ (1,155,081 ) $ (3,304,936 ) $ 76,851 $ (53,471,888 ) $ (57,855,054 ) Six months ended June 30, 2014 Revenues $ 5,676,658 $ 807,004 $ - $ - $ 6,483,662 Operating loss $ (1,936,821 ) $ (881,685 ) $ - $ (513,664 ) $ (3,332,170 ) Net loss attributable to common shareholders $ (1,936,821 ) $ (815,813 ) $ - $ (1,515,520 ) $ (4,268,154 ) Financial information for our segment as of June 30, 2015 is as follows: As of June 30, 2015 Total Assets $ 2,367,264 $ 11,043,926 $ $2,067,101 $ 147,852 $ 15,626,143

Pro-forma Financial Informati45

Pro-forma Financial Information (Tables)	6 Months Ended
	Jun. 30, 2015
Pro-forma Financial Information Tables
Disclosure of Supplementary Pro Forma Information for Business Combinations	For the three months ended June 30, (unaudited) 2015 2014 Revenues $ 5,651,595 $ 5,254,760 Cost of sales 3,972,690 3,490,050 Gross profit 1,678,905 1,764,710 Selling, general and administrative expenses 9,862,111 3,663,413 Operating loss (8,183,206 ) (1,808,703 ) Interest expense, net 691,711 274,726 Other income, net (36,540 ) (141,252 ) Loss from continuing operations before income taxes (8,838,377 ) (2,032,177 ) Income taxes. - - Net loss from continuing operations (8,838,377 ) (2,032,177 ) Loss from discontinued operations - (49,869 ) Net loss (8,838,377 ) (2,082,046 ) Net loss attributable to the non-controlling interest 2,418 2,878 Net loss attributable to the Company (8,835,959 ) (2,079,168 ) Currency translation (loss) gain (6,374 ) (5,635 ) Comprehensive loss (8,842,333 ) (2,084,803 ) Dividends on preferred stock 25,000 150,000 Net loss attributable to common shareholders $ (8,867,333 ) $ (2,234,803 ) For the six months ended June 30, (unaudited) 2015 2014 Revenues $ 10,664,605 $ 10,010,231 Cost of sales 7,868,626 6,833,849 Gross profit 2,795,979 3,176,382 Selling, general and administrative expenses 17,212,805 7,156,006 Operating loss (14,416,826 ) (3,979,624 ) Interest expense, net 1,342,622 925,787 Other income, net (67,181 ) (186,766 ) Loss from continuing operations before income taxes (15,692,267 ) (4,718,645 ) Income taxes. - - Net loss from continuing operations (15,692,267 ) (4,718,645 ) Loss from discontinued operations - (127,779 ) Net loss (15,692,267 ) (4,846,424 ) Net loss attributable to the non-controlling interest 4,089 5,052 Net loss attributable to the Company (15,688,178 ) (4,841,372 ) Currency translation (loss) gain 7,364 (4,427 ) Comprehensive loss (15,680,814 ) (4,845,799 ) Dividends on preferred stock 175,000 300,000 Net loss attributable to common shareholders $ (15,855,814 ) $ (5,145,799 )

Reverse Acquisition (Details)

Reverse Acquisition (Details)	Jun. 30, 2015USD ($)
Reverse Acquisition Details
Property and equipment	$ 78,807
Cash in bank	812,756
Account receivable	856,282
Leases receivable	575,471
Prepaid expenses	151,604
Inventory	129,665
Other assets	83,215
Current liabilities	(5,922,133)
Debt	(3,640,839)
Liabilities of discontinued operations	(117,573)
Other liabilities	(144,807)
Class A preferred stock	(144,000)
Goodwill	42,847,066
Total	$ 35,565,514

Going Concern Matters (Details

Going Concern Matters (Details Narrative)	Jun. 30, 2015USD ($)
Going Concern Matters Details Narrative
Cash on hand	$ 812,000

Summary of Significant Accoun48

Summary of Significant Accounting Policies and Principles of Consolidation (Details)	6 Months Ended
	Jun. 30, 2015
TelephoneEquipment [Member] | Minimum [Member]
Estimated useful life	5 years
TelephoneEquipment [Member] | Maximum [Member]
Estimated useful life	9 years 6 months
Machinery And Equipment [Member] | Minimum [Member]
Estimated useful life	3 years
Machinery And Equipment [Member] | Maximum [Member]
Estimated useful life	10 years
Furniture, fixtures and equipment [Member] | Minimum [Member]
Estimated useful life	5 years
Furniture, fixtures and equipment [Member] | Maximum [Member]
Estimated useful life	7 years
Vehicles [Member] | Minimum [Member]
Estimated useful life	4 years
Vehicles [Member] | Maximum [Member]
Estimated useful life	5 years
Leasehold Improvements [Member]
Estimated useful life	3 years
Computer Software [Member]
Estimated useful life	3 years

Summary of Significant Accoun49

Summary of Significant Accounting Policies and Principles of Consolidation (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Other assets	$ 1,300,459		$ 1,008,519
Allowance for doubtful accounts receivable	71,000		0
Inventory obsolescence reserve	120,000		0
Software development costs	483,276		444,218
Signal Share recorded	632,219		737
Deferred revenue	892,627		$ 398,732
Advertising expense	295,764	$ 14,247
Impairment of goodwill	42,847,066
Noncontrolling Interest	$ 2,750
Customer Concentration Risk [Member] | Verizon Communications, Inc. And Alteva LLC [Member]
Cost of services	49.00%
Customer Concentration Risk [Member] | Verizon Communications, Inc. And Level 3 [Member]
Cost of services		57.00%
Accounts Receivable Short Term Direct [Member]
Other assets	$ 167,820		$ 209,775
Accounts Receivable Long Term Direct [Member]
Other assets	$ 153,835		$ 335,640

Acquisitions (Details)

Acquisitions (Details)	Jun. 30, 2015USD ($)
Acquisitions Details
Identifiable intangible assets	$ 1,800,000
Total consideration	$ 1,800,000

The Shutdown of SPC and CHL a51

The Shutdown of SPC and CHL and their Presentation as Discontinued Operations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues	$ 5,651,595	$ 3,358,348	$ 8,854,456	$ 6,483,662
Cost of sales	3,972,690	2,304,502	6,780,844	4,596,484
Gross profit	1,678,905	1,053,846	2,073,612	1,887,178
Selling, general and administrative expenses	9,862,111	2,733,744	15,820,838	5,219,348
Loss from discontinued operations before income taxes	$ (8,838,377)	$ (1,739,942)	$ (57,676,430)	(3,887,032)
Income taxes.
Loss from discontinued operations, net of tax.		$ (3,212)		$ (81,122)
SPC [Member]
Revenues
Cost of sales
Gross profit
Selling, general and administrative expenses		$ 3,212		$ 81,122
Other expenses.
Other income.
Loss from discontinued operations before income taxes		$ (3,212)		$ (81,122)
Income taxes.
Loss from discontinued operations, net of tax.		$ (3,212)		$ (81,122)

The Shutdown of SPC and CHL a52

The Shutdown of SPC and CHL and their Presentation as Discontinued Operations (Details 1) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash	$ 812,000
Total current assets	$ 6,493,928	$ 5,275,274
SPC [Member]
Assets
Cash
Total current assets
Other assets
Total assets of discontinued operations
Liabilities
Accounts payable and accrued expenses	$ 3,254,934	$ 3,138,056
Other liabilities
Total liabilities of discontinued operations	$ 3,254,934	$ 3,138,056

The Shutdown of SPC and CHL a53

The Shutdown of SPC and CHL and their Presentation as Discontinued Operations (Details Narrative)	Jun. 30, 2015USD ($)
Discontinued Operations Presentation [Member]
Accounts payable and accrued expenses of discontinued operations	$ 117,573

Leases Receivable (Details)

Leases Receivable (Details)	Jun. 30, 2015USD ($)
Leases Receivable Details
2,016	$ 369,199
2,017	126,707
2,018	4,998
Minimum receipts	$ 500,904

Leases Receivable (Details Narr

Leases Receivable (Details Narrative)	6 Months Ended
	Jun. 30, 2015USD ($)
Leases Receivable Details Narrative
Leases receivables	$ 500,904
Term of lease agreement	60 months
Interest rate on lease	9.50%

Property, Equipment and Softw56

Property, Equipment and Software, net (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Property, equipment and software	$ 7,248,419	$ 5,576,341
Less: accumulated depreciation	(6,729,268)	(5,130,085)
Property, equipment and software, net	519,151	446,256
Machinery And Equipment [Member]
Property, equipment and software	6,037,319	5,146,279
Equipment offsite [Member]
Property, equipment and software	121,808	121,808
Furniture, fixtures and equipment [Member]
Property, equipment and software	773,750	145,154
Software [Member]
Property, equipment and software	279,502	127,060
Trucks and autos [Member]
Property, equipment and software	$ 36,040	$ 36,040

Property, Equipment and Softw57

Property, Equipment and Software, net (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Property Equipment And Software Net Details Narrative
Depreciation and amortization	$ 54,690	$ 33,527	$ 76,703	$ 78,469

Capital Lease Obligations (Deta

Capital Lease Obligations (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Less: Accumulated depreciation	$ (238,402)	$ (274,815)
Net capital lease property	437,463	415,000
Machinery And Equipment [Member]
Capital Lease Property	550,278	564,228
Software [Member]
Capital Lease Property	$ 125,587	$ 125,587

Capital Lease Obligations (De59

Capital Lease Obligations (Details 1)	Jun. 30, 2015USD ($)
Capital Lease Obligations Details 1
2,016	$ 3,712,391
2,017	3,574,375
2,018	1,441,792
2,019	7,379
Total	8,735,937
Less - amounts representing interest	(1,222,147)
Present value of net minimum lease payments	7,513,790
Less: Current portion	(2,937,889)
Net long-term portion	$ 4,575,901

Capital Lease Obligations (De60

Capital Lease Obligations (Details 2) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Lease accounts receivable
Current portion (accounts receivable)	$ 139,334	$ 149,507
Long-term portion (other assets)	129,920	208,086
Total lease accounts receivable	269,254	357,593
Lease obligations
Current portion (capital leases payable)	139,334	149,507
Long-term portion (non-current lease obligations)	129,920	208,086
Total lease obligations	$ 269,254	$ 357,593

Capital Lease Obligations (De61

Capital Lease Obligations (Details 3) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Leases payable - current portion	$ 3,077,223	$ 2,425,043
Leases payable - long tern portion	4,705,821	$ 5,040,948
Total leases payable	7,783,044
Capital Lease [Member]
Leases payable - current portion	2,937,889
Leases payable - long tern portion	4,575,901
Total leases payable	7,513,790
Finance Leases [Member]
Leases payable - current portion	139,334
Leases payable - long tern portion	129,920
Total leases payable	$ 269,254

Capital Lease Obligations (De62

Capital Lease Obligations (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Capital Lease Obligations Details Narrative
Depreciation and amortization expense of leased property	$ 19,230	$ 18,231	$ 37,461	$ 28,019
Leases payable			0	215,670
Repayment of capital lease payable	$ 50,650	$ 49,573	$ 78,810	$ 99,147

Line of Credit (Details)

Line of Credit (Details)	Jun. 30, 2015USD ($)
Line Of Credit Details
2,016	$ 1,632,896
2,017	2,296,104
Total	$ 3,929,000

Line of Credit (Details Narrati

Line of Credit (Details Narrative)	6 Months Ended
	Jun. 30, 2015USD ($)
Line Of Credit Details Narrative
Interest rate	5.09%
Amounts outstanding under the credit agreement	$ 3,929,000
Unamortized of debt discount	263,789
Amortized amount	$ 71,926

Notes Payable - Related Parti65

Notes Payable - Related Parties (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Notes payable - related parties	$ 2,997,740	$ 2,899,631
Less: current portion of notes payable - related parties	$ (2,997,740)	(832,030)
Long-term portion of notes payable, related party		2,067,601
Brookville Special Purpose Fund [Member]
Notes payable - related parties	$ 2,182,162	2,284,161
Veritas High Yield Fund [Member]
Notes payable - related parties	485,578	$ 615,470
Allied International Fund, Inc. [Member]
Notes payable - related parties	$ 330,000

Notes Payable - Related Parti66

Notes Payable - Related Parties (Details 1) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Notes Payable - Related Parties Details 1
2,016	$ 3,017,486
Less: unamortized debt discount	(19,746)
Total notes payable - related parties	$ 2,997,740	$ 2,899,631

Notes Payable - Related Parti67

Notes Payable - Related Parties (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Deferred financing costsand debt discount	$ 17,444	$ 17,444	$ 34,696	$ 122,694
Note [Member]
Loans payble	55,000		55,000
Note 1 [Member]
Loans payble	$ 275,000		$ 275,000

Notes Payable (Details)

Notes Payable (Details)	Jun. 30, 2015USD ($)
Long-term debt current and noncurrent	$ 1,142,329
Less: current portion	1,140,034
Long-term debt excluding current portion	2,295
FCC note [Member]
Long-term debt current and noncurrent	15,216
NFS bridge loans [Member]
Long-term debt current and noncurrent	747,113
Seagell short term note [Member]
Long-term debt current and noncurrent	80,000
Tran short term note [Member]
Long-term debt current and noncurrent	$ 300,000

Notes Payable (Details 1)

Notes Payable (Details 1)	Jun. 30, 2015USD ($)
Notes Payable Details 1
2,016	$ 1,140,034
2,017	2,295
Total of future minimum payments	$ 1,142,329

Note Payable (Details Nartrativ

Note Payable (Details Nartrative)	6 Months Ended
	Jun. 30, 2015USD ($)
NFS bridge loans [Member]
Loans repaid	$ 328,598
Seagel short term note [Member]
Short term borrowed	80,000
Tran short term note [Member]
Short term borrowed	$ 300,000

Related Party Transactions - 71

Related Party Transactions - Stockholders (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Related Party Transactions - Stockholders Details Narrative
Series A Preferred Stock dividends	$ 25,000	$ 150,000	$ 175,000	$ 300,000
Preferred stock dividends payable	$ 0		$ 0		$ 25,000

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Accrued expenses	$ 1,875,534	$ 912,061
Cost of service [Member]
Accrued expenses	543,815	498,193
Selling, general and administrative expense [Member]
Accrued expenses	506,572	278,852
Compensation [Member]
Accrued expenses	$ 825,147	$ 135,016

Operating Lease Commitments (De

Operating Lease Commitments (Details)	Jun. 30, 2015USD ($)
Operating Lease Commitments Details
2,016	$ 418,298
2,017	362,031
2,018	342,998
2,019	301,161
2,020	45,056
Total	$ 1,469,544

Operating Lease Commitments (74

Operating Lease Commitments (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Operating Lease Commitments Details Narrative
Rent expense	$ 164,000	$ 80,382	$ 272,437	$ 159,148

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Preferred stock, shares authorized	5,000,000		5,000,000
Preferred stock, par value (in dollars per share)	$ 0.20		$ 0.20
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001
Common stock, shares authorized	400,000,000		400,000,000
Common stock, shares issued	135,040,720		115,282,137
Common stock, shares outstanding	135,040,720		115,282,137
Contributed capital from a shareholder	$ 571,004	$ 5,583,500
Class A Preferred Stock
Preferred stock, shares authorized	720,000		0
Preferred stock, shares issued	720,000		0
Preferred stock, shares outstanding	720,000		0
Accumulated and unpaid dividend (in dollars)	$ 217,560		$ 211,080

Warrants, Stock Option Plans 76

Warrants, Stock Option Plans and Stock Appreciation Rights (Details)	6 Months Ended
	Jun. 30, 2015USD ($)$ / sharesshares
Shares Underlying Warrants
Warrants outstanding - beginning of period | shares
Issued | shares	250,000
Warrants assumed through reverse acquisition | shares	15,380
Expired/Cancelled | shares	(14,833)
Warrants outstanding and exercisable - end of period | shares	250,547
Weighted Average Exercise Price
Warrants outstanding - beginning of period | $ / shares
Issued | $ / shares	$ 1.80
Warrants assumed through reverse acquisition | $ / shares	203.88
Expired/Cancelled | $ / shares	201.44
Outstanding and exercisable - end of period | $ / shares	$ 2.39
Outstanding and exercisable, Weighted Remaining Contractual Life (in years)	4 years 7 months 21 days
Outstanding and exercisable, Aggregate Intrinsic Value | $

Warrants, Stock Option Plans 77

Warrants, Stock Option Plans and Stock Appreciation Rights (Details 1)	6 Months Ended
	Jun. 30, 2015USD ($)$ / sharesshares
Options, Number of Shares
Outstanding at January 1, 2015 | shares	795,000
Granted and Issued | shares	4,885,000
Options assumed through reverse acquisition | shares	14,221
Expired/Cancelled | shares	(44,269)
Outstanding at June 30, 2015 | shares	5,649,953
Exercisable at June 30, 2015 | shares	1,737,710
Un-exercisable at June 30, 2015 | shares	3,912,243
Options, Weighted Average Exercise Price
Outstanding at January 1, 2015 | $ / shares	$ 1.80
Granted | $ / shares	1.80
Options assumed through reverse acquisition | $ / shares	97.92
Expired/Cancelled | $ / shares	8.96
Outstanding at June 30, 2015 | $ / shares	1.99
Exercisable at June 30, 2015 | $ / shares	2.38
Un-exercisable at June 30, 2015 | $ / shares	$ 1.81
Options Outstanding Remaining Contractual Life (in years)	4 years 8 months 9 days
Options Exercisable at Remaining Contractual Life (in years)	4 years 8 months 19 days
Options un-exercisable at Remaining Contractual Life (in years)	4 years 8 months 5 days
Options Outstanding, Aggregate Intrinsic Value | $
Options Exercisable, Aggregate Intrinsic Value | $
Options Un-xercisable, Aggregate Intrinsic Value | $

Warrants, Stock Option Plans 78

Warrants, Stock Option Plans and Stock Appreciation Rights (Details 2)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Expected term		2 years
Expected volatility		221.00%
Risk free interest rate		0.48%
Dividend yield		0.00%
Stock-based compensation
Expected term	3 years
Expected volatility	216.00%
Risk free interest rate	0.92%
Dividend yield	0.00%

Warrants, Stock Option Plans 79

Warrants, Stock Option Plans and Stock Appreciation Rights (Details 3)	6 Months Ended
	Jun. 30, 2015USD ($)$ / sharesshares
Options, Number of Shares
Outstanding at January 1, 2015	795,000
Granted and Issued	4,885,000
SARs assumed through reverse acquisition	14,221
Expired/Cancelled	(44,269)
Outstanding at June 30, 2015	5,649,953
Exercisable at June 30, 2015	1,737,710
Un-exercisable at June 30, 2015	3,912,243
Options, Weighted Average Exercise Price
Outstanding at January 1, 2015 | $ / shares	$ 1.80
Granted | $ / shares	1.80
Expired/Cancelled | $ / shares	8.96
Outstanding at June 30, 2015 | $ / shares	1.99
Exercisable at June 30, 2015 | $ / shares	2.38
Un-exercisable at June 30, 2015 | $ / shares	$ 1.81
Options Outstanding Remaining Contractual Life (in years)	4 years 8 months 9 days
Options Exercisable at Remaining Contractual Life (in years)	4 years 8 months 19 days
Options un-exercisable at Remaining Contractual Life (in years)	4 years 8 months 5 days
Options Outstanding, Aggregate Intrinsic Value | $
Options Exercisable, Aggregate Intrinsic Value | $
Options Un-xercisable, Aggregate Intrinsic Value | $
Warrants
Options, Number of Shares
Outstanding at January 1, 2015	15,500,000
Granted and Issued	9,750,000
SARs assumed through reverse acquisition
Expired/Cancelled
Outstanding at June 30, 2015	25,250,000
Exercisable at June 30, 2015	7,750,000
Un-exercisable at June 30, 2015	17,500,000
Options, Weighted Average Exercise Price
Outstanding at January 1, 2015 | $ / shares	$ 0.28
Granted | $ / shares	$ 0.59
SARs assumed through reverse acquisition | $ / shares
Expired/Cancelled | $ / shares
Outstanding at June 30, 2015 | $ / shares	$ 0.4
Exercisable at June 30, 2015 | $ / shares	0.28
Un-exercisable at June 30, 2015 | $ / shares	$ 0.45
Options Outstanding Remaining Contractual Life (in years)	2 years 2 months 19 days
Options Exercisable at Remaining Contractual Life (in years)	1 year 9 months 4 days
Options un-exercisable at Remaining Contractual Life (in years)	2 years 5 months 5 days
Options Outstanding, Aggregate Intrinsic Value | $
Options Exercisable, Aggregate Intrinsic Value | $
Options Un-xercisable, Aggregate Intrinsic Value | $

Warrants, Stock Option Plans 80

Warrants, Stock Option Plans and Stock Appreciation Rights (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Warrants Stock Option Plans And Stock Appreciation Rights Details Narrative
Warrants outstanding	250,547		250,547
Warrants issued	250,000		250,000
Amortized	$ 22,214		$ 22,214
Intesest expense	$ 51,833		$ 51,833
Shares outstanding	5,649,953		5,649,953
Stock-based compensation expense	$ 6,197,788	$ 0	$ 9,365,441	$ 0
Compensation cost	$ 29,500,000		$ 29,500,000

Arista Communications, LLC. (De

Arista Communications, LLC. (Details) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2015
Arista Communications Llc. Details
Revenue	$ 19,617	$ 18,839
Direct Costs	(16,407)	(15,325)
Operating expense	(8,711)	(8,351)
Net loss	$ (5,501)	$ (4,837)

Arista Communications, LLC. (82

Arista Communications, LLC. (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015
Arista Communications Llc. Details Narrative
Share of the net loss	$ 2,418	$ 2,750

Segment Information (Details)

Segment Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Revenue	$ 5,651,595	$ 3,358,348	$ 8,854,456	$ 6,483,662
Operating loss	(8,183,206)	(1,679,898)	(56,594,292)	(3,332,170)
Net loss attributable to common shareholders	(8,867,333)	$ (1,893,154)	(57,855,054)	(4,268,154)
Total assets	$ 15,626,143		15,626,143		$ 13,986,636
Corporate [Member]
Revenue
Operating loss	$ (6,495,801)	$ (427,294)
Net loss attributable to common shareholders	(6,929,692)	(677,616)
Total assets	147,852		147,852
Broadband and VOIP [Member]
Revenue	2,739,594	2,784,435	5,507,986	5,676,658
Operating loss	(565,630)	(900,475)	(1,155,081)	(1,936,821)
Net loss attributable to common shareholders	(565,630)	(900,475)	(1,155,081)	(1,936,821)
Total assets	2,367,264		2,367,264
WiFi [Member]
Revenue	1,020,010	573,913	1,366,184	807,004
Operating loss	(1,187,310)	(352,129)	(2,899,638)	(881,685)
Net loss attributable to common shareholders	(1,439,964)	$ (315,063)	(3,304,936)	$ (815,813)
Total assets	11,043,926		11,043,926
Hospitality [Member]
Revenue	1,891,991		1,980,286
Operating loss	65,535		74,101
Net loss attributable to common shareholders	67,953		76,851
Total assets	$ 2,067,101		$ 2,067,101
Corporate [Member]
Revenue
Operating loss			$ (52,613,674)	$ (513,664)
Net loss attributable to common shareholders			$ (53,471,888)	$ (1,515,520)

Pro-forma Financial Informati84

Pro-forma Financial Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues	$ 5,651,595	$ 3,358,348	$ 8,854,456	$ 6,483,662
Cost of sales	3,972,690	2,304,502	6,780,844	4,596,484
Gross profit	1,678,905	1,053,846	2,073,612	1,887,178
Selling, general and administrative expenses	9,862,111	2,733,744	15,820,838	5,219,348
Operating loss	(8,183,206)	(1,679,898)	(56,594,292)	(3,332,170)
Loss from continuing operations before income taxes	$ (8,838,377)	$ (1,739,942)	$ (57,676,430)	(3,887,032)
Income taxes.
Loss from discontinued operations		$ (3,212)		(81,122)
Net loss	$ (8,838,377)	$ (1,743,154)	$ (57,676,430)	$ (3,968,154)
Net loss attributable to the non-controlling interest	2,418		2,750
Net loss attributable to the Company	(8,835,959)	$ (1,743,154)	(57,673,680)	$ (3,968,154)
Dividends on preferred stock	25,000	150,000	175,000	300,000
Net loss attributable to common shareholders	(8,867,333)	(1,893,154)	(57,855,054)	(4,268,154)
Discontinued Operations Presentation [Member]
Revenues	5,651,595	5,254,760	10,664,605	10,010,231
Cost of sales	3,972,690	3,490,050	7,868,626	6,833,849
Gross profit	1,678,905	1,764,710	2,795,979	3,176,382
Selling, general and administrative expenses	9,862,111	3,663,413	17,212,805	7,156,006
Operating loss	(8,183,206)	(1,808,703)	(14,416,826)	(3,979,624)
Interest expense, net	691,711	274,726	1,342,622	925,787
Other income, net	(36,540)	(141,252)	(67,181)	(186,766)
Loss from continuing operations before income taxes	$ (8,838,377)	$ (2,032,177)	$ (15,692,267)	$ (4,718,645)
Income taxes.
Net loss from continuing operations	$ (8,838,377)	$ (2,032,177)	$ (15,692,267)	$ (4,718,645)
Loss from discontinued operations		(49,869)		(127,779)
Net loss	$ (8,838,377)	(2,082,046)	$ (15,692,267)	(4,846,424)
Net loss attributable to the non-controlling interest	2,418	2,878	4,089	5,052
Net loss attributable to the Company	(8,835,959)	(2,079,168)	(15,688,178)	(4,841,372)
Currency translation (loss) gain	(6,374)	(5,635)	7,364	(4,427)
Comprehensive loss	(8,842,333)	(2,084,803)	(15,680,814)	(4,845,799)
Dividends on preferred stock	25,000	150,000	175,000	300,000
Net loss attributable to common shareholders	$ (8,867,333)	$ (2,234,803)	$ (15,855,814)	$ (5,145,799)

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Customer deposits	$ 1,477,165
Hyatt Corporation [Member]
Customer deposits	1,262,000
Technology Integration Group [Member]
Accounts payable with respect to inventory and services		$ 2,088,000
CLC Networks and Skada [Member]
Accounts payable liability	$ 16,820