iCoreConnect 10-K 27 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 27, 2020	Jun. 30, 2019
Document And Entity Information
Entity Registrant Name	iCoreConnect Inc.
Entity Central Index Key	0001408057
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Dec. 31, 2019
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Entity Common Stock Shares Outstanding		70,617,339
Entity Public Float			$ 9,576,000
EntityFileNumber	000-52765
EntityAddressAddressLine1	13506 Summerport Village Parkway
EntityAddressAddressLine2	#160
EntityAddressPostalZipCode	34786
EntityTaxIdentificationNumber	134182867
EntityAddressCityOrTown	Windermere
LocalPhoneNumber	810-7706
CityAreaCode	888
EntityAddressStateOrProvince	FLORIDA

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 445,000	$ 1,000
Accounts receivable, net of allowance for doubtful accounts	101,000	224,000
Prepaid expenses	8,000	9,000
Total current assets	554,000	234,000
Property and equipment, net	6,000	11,000
Right of use lease asset - operating	53,000
Software development costs, net	625,000	535,000
Acquired technology, net	891,000	539,000
Goodwill and intangible assets, net	393,000	416,000
Total long-term assets	1,968,000	1,501,000
TOTAL ASSETS	2,522,000	1,735,000
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable and accrued expenses	1,001,000	664,000
Line of credit		498,000
Operating lease liability, current portion	55,000
Current maturities of long-term debt	880,000	1,361,000
Total current liabilities	1,936,000	2,523,000
Long-term debt, net of current maturities	13,000	55,000
Deferred revenue	108,000	115,000
Total long-term liabilities	121,000	170,000
TOTAL LIABILITIES	2,057,000	2,693,000
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred Stock, Undesignated par value $0.001; Authorized 10,000,000 shares; none issued or outstanding
Common stock par value $0.001; 600,000,000 shares authorized; Issued and Outstanding: 67,476,089 as of December 31, 2019 and 50,864,131 as of December 31, 2018	67,000	51,000
Additional paid-in-capital	74,738,000	70,335,000
Accumulated deficit	(74,340,000)	(71,344,000)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	465,000	(958,000)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 2,522,000	$ 1,735,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, shares par value	$ 0.001	$ 0.001
Preferred stock, share authorized	10,000,000	10,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	600,000,000	600,000,000
Common stock, share issued	67,476,089	50,864,131
Common stock, share outstanding	67,476,089	50,864,131

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
CONSOLIDATED STATEMENTS OF OPERATIONS
Revenue	$ 1,014,000	$ 1,089,000
Cost of sales	305,000	449,000
Gross profit	709,000	640,000
Expenses
Selling, general and administrative	3,434,000	3,451,000
Depreciation and amortization	655,000	407,000
Total operating expenses	4,089,000	3,858,000
Loss from operations	(3,380,000)	(3,218,000)
Other income (expense)
Interest expense	(236,000)	(232,000)
Other (expense) income	64,000	1,740,000
Gain on cancellation of debt	697,000
Total other income (expense)	397,000	(1,972,000)
Net loss	$ (2,983,000)	$ (5,190,000)
Net loss per share available to common stockholders, basic and diluted	$ (0.05)	$ (0.12)
Weighted average number of shares, basic and diluted	58,546,699	44,622,040

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Balance, shares at Dec. 31, 2017		34,318,198
Balance, amount at Dec. 31, 2017	$ (1,264,000)	$ 34,000	$ 64,856,000	$ (66,154,000)
Stock issued for cash, shares		9,265,801
Stock issued for cash, amount	$ 2,649,000	$ 10,000	$ 2,639,000
Stock issued for acquisition of Electro-Fish Media (Note 12), shares		3,400,000
Stock issued for acquisition of Electro-Fish Media (Note 12), amount	$ 1,700,000	$ 3,000	$ 1,697,000
Stock issued for services, shares		340,525
Stock issued for services, amount	$ 204,000		$ 204,000
Stock compensation expense, shares		3,539,607
Stock compensation expense, amount	$ 943,000	$ 4,000	$ 939,000
Net Income (Loss)	$ (5,190,000)			$ (5,190,000)
Balance, shares at Dec. 31, 2018		50,864,131
Balance, amount at Dec. 31, 2018	$ (958,000)	$ 51,000	$ 70,335,000	$ (71,344,000)
Stock issued for services, shares		66,666
Stock issued for services, amount	17,000		17,000
Stock compensation expense, shares		1,808,526
Stock compensation expense, amount	610,000	$ 2,000	608,000
Net Income (Loss)	(2,983,000)			(2,983,000)
Cumulative adjustment for the adoption of a new accounting pronouncement (Note 3)	$ (13,000)			$ (13,000)
Stock issued for cash and conversion of notes payable, shares		12,435,759
Stock issued for cash and conversion of notes payable, amount	$ 3,217,000	$ 12,000	$ 3,205,000
Stock issued for acquisition of technology (Note 12), shares		2,301,007
Stock issued for acquisition of technology (Note 12), amount	$ 575,000	$ 2,000	$ 573,000
Balance, shares at Dec. 31, 2019		67,476,089
Balance, amount at Dec. 31, 2019	$ 465,000	$ 67,000	$ 74,738,000	$ (74,340,000)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITTIES
Net loss	$ (2,983,000)	$ (5,190,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	5,000	5,000
Amortization expense	650,000	402,000
Gain on cancellation of liabilities	$ (697,000)
Stock issued for services	17,000
Change in allowance for doubtful accounts	$ 5,000	$ 7,000
Stock compensation expense	610,000	2,847,000
Decrease (increase) in:
Accounts receivable	118,000	(110,000)
Prepaid expenses	1,000	8,000
Right of use asset, net of lease liability	(11,000)
Accounts payable and accrued expenses	625,000	33,000
Deferred revenue	(7,000)	29,000
NET CASH USED IN OPERATING ACTIVITIES	(1,667,000)	(1,969,000)
INVESTING ACTIVITIES
Purchase of property & equipment		(5,000)
Amount paid for acquisition of ClariCare software	(50,000)
Amounts paid for capitalized software development costs	(423,000)	(337,000)
NET CASH USED IN INVESTING ACTIVITIES	(473,000)	(342,000)
FINANCING ACTIVITES
Proceeds from debt	123,000
Payments on debt	(736,000)	(389,000)
Proceeds from issuance of common stock	3,197,000	2,649,000
NET CASH PROVIDED BY FINANCING ACTIVITIES	2,584,000	2,260,000
NET INCREASE (DECREASE) IN CASH	444,000	(51,000)
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR	1,000	52,000
CASH AND CASH EQUIVALENTS AT END OF THE YEAR	445,000	1,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for interest	$ 195,000	$ 226,000
Stock issued for acquisition of technology	575,000
Stock issued for conversion of notes payable	20,000
Issuance of promissory note for settlement of bonus payable	$ 75,000

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2019
NATURE OF OPERATIONS
Note 1 - NATURE OF OPERATIONS	iCoreConnect Inc., (the “Company”), a Nevada Corporation, builds secure cloud-based HIPAA compliant communications systems, productivity and technology framework software focused on healthcare, although the core technology can be adopted to other vertical markets that require a high degree of secure data communication, such as the legal, financial and education fields. In April 2019 the Company acquired technology and certain other assets from ClariCare, Inc. ClariCare created a cloud-based dental analytics and practice management software which empowers dentists to manage their practices more efficiently. The acquisition of ClariCare’s technology is now being developed by the Company and rebranded as iCoreHuddle. On January 3, 2020, the Company purchased the assets of Computer Plumber, LLC, doing business as TrinIT (“TrinIT”), an IT service company located in the Charlotte, North Carolina area to complement our technology line up.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Dec. 31, 2019
GOING CONCERN
Note 2 - GOING CONCERN	The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. For the year ended December 31, 2019, the Company generated an operating loss of $3,380,000. In addition, the Company has an accumulated deficit, total stockholders’ equity and net working capital deficit of $74,340,000, $465,000 and $1,382,000 at December 31, 2019, respectively. The Company’s activities were primarily financed through private placements of equity securities. The Company intends to raise additional capital through the issuance of debt or equity securities to fund its operations. The Company is reliant on future fundraising to finance operations in the near future. The financing may not be available on terms satisfactory to the Company, if at all. In light of these matters, there is substantial doubt that the Company will be able to continue as a going concern. Currently, management intends to develop a significantly improved healthcare communications system and intends to develop alliances with strategic partners to generate revenues that will sustain the Company. While management believes in the viability of its strategy to increase revenues and in its ability to raise additional funds, there can be no assurances to that effect. Management’s ability to continue as a going concern is ultimately dependent upon its ability to continually increase the Company’s customer base and realize increased revenues from signed contracts. The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Note 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Basis of Accounting The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States (“GAAP”). Significant accounting principles followed by the Company and the methods of applying those principles, which materially affect the determination of financial position, results of operations and cash flows are summarized below. Cash and Cash Equivalents The Company classifies highly liquid temporary investments with an original maturity of three months or less when purchased as cash equivalents. The Company maintains cash balances at various financial institutions. Balances at United States banks are insured by the Federal Deposit Insurance Corporation up to $250,000. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risk for cash on deposit. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are customer obligations due under normal trade terms. We maintain an allowance for doubtful accounts for estimated losses resulting from the potential inability of certain customers to make required future payments on amounts due us. Management determines the adequacy of this allowance by periodically evaluating the aging and past due nature of individual customer accounts receivable balances and considering the customer’s current financial situation as well as the existing industry economic conditions and other relevant factors that would be useful in assessing the risk of collectability. If the future financial condition of our customers were to deteriorate, resulting in their inability to make specific required payments, additions to the allowance for doubtful accounts may be required. In addition, if the financial condition of our customers improves and collections of amounts outstanding commence or are reasonably assured, then we may reverse previously established allowances for doubtful accounts. The Company has estimated and recorded an allowance for doubtful accounts of $17,000 and $12,000 as of December 31, 2019 and 2018, respectively. Property, Equipment and Depreciation Property, equipment, and leasehold improvements are recorded at their historical cost. Depreciation and amortization have been determined using the straight line method over the estimated useful lives of the assets which are computers and office equipment (3 years) and for office furniture and fixtures (7 years). The cost of repairs and maintenance is charged to operations in the period incurred. Software Development Costs and Acquired Software The Company accounts for software development costs, including costs to develop software products or the software component of products to be sold to external users. In accordance with ASC 985-730, Computer Software Research and Development, research and planning phase costs are expensed as incurred and development phase costs including direct materials and services, payroll and benefits and interest costs are capitalized. We have determined that technological feasibility for our products to be marketed to external users was reached before the release of those products. As a result, the development costs and related acquisition costs after the establishment of technological feasibility were capitalized as incurred. Capitalized costs for software to be sold to external users and software acquired in a business combination are amortized based on current and projected future revenue for each product with an annual minimum equal to the straight line amortization over three years. Impairment of Long Lived Assets Long lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount that the carrying amount of the asset exceeds the fair value of the asset. Goodwill Goodwill is comprised of the purchase price of business acquisitions in excess of the fair value of the net assets acquired. Goodwill is reviewed for impairment annually or when events or circumstances indicate that the carrying value of the reporting unit may exceed its fair value. If the carrying value of a reporting unit exceeds the fair value, an impairment loss will be recognized. The Company did not recognize any impairment charges for each of the years ended December 31, 2019 and 2018. Revenue Recognition We have 3 primary sources of revenue as of December 31, 2019: 1. Electronic Health Records (EHR/Practice Management) software 2. Encrypted and HIPAA Compliant Secure email 3. ICD Coding Software 1) Revenue from EHR software licensing arrangements include private cloud hosting services provided to clients that have purchased a perpetual or specific term license to our EHR software solution and who have contracted with us to host the software. These arrangements provide the client with a contractual right to take possession of the software at any time during the private cloud hosting period without significant penalty and it is feasible for the client to either use the software on its own equipment or to contract with an unrelated third party to host the software. Private cloud hosting services are not deemed to be essential to the functionality of the software. The Company recognizes revenue from the sale or licensing of its EHR software at the time the customer has access to use the software, with deferral of revenues associated with the cloud hosting and post contract support performance objectives, allocated based on relative fair values. The Company defers revenue from the sale of its EHR software products associated with cloud hosting and post contract support performance objectives over the term of the license agreement. Cloud hosting performance objective revenues are deferred based on forecasted cloud storage costs, encrypted secure email performance revenues are deferred based on the forecasted sales price of those services to other customers of the Company and customer support performance revenues are deferred based on forecasted customer support costs based on Company experience. 2) Encrypted HIPAA compliant secure email services are provided on an annual subscription basis using the software as a service (“SaaS”) model with revenues recognized ratably over the contract term. 3) ICD Coding Software provides the 10th revision of the International Statistical Classification of Diseases and Related Health Problems (ICD), a medical classification list by the World Health Organization (WHO). It contains codes for diseases, signs and symptoms, abnormal findings, complaints, social circumstances, and external causes of injury or diseases. ICD coding services are provided on a subscription basis using the software as a service (“SaaS”) model with revenues recognized ratably over the contract term. The length of the contract period varies from monthly to multiyear. On January 3, 2020, the Company purchased the assets of Computer Plumber, LLC, doing business as TrinIT (“TrinIT”), an IT service company located in the Charlotte, North Carolina area to complement our technology line up. TrinIT generates revenue primarily from their: 1) monthly recurring “Managed Service Provider (MSP)” model, 2) periodic sale and installation of IT related hardware, and 3) ad hoc customer IT projects. The MSP model revenue is recognized monthly on a recurring basis while the revenue relating to IT hardware and ad hoc customer IT projects is recognized when the services are performed. (See Note 13). Advertising Costs Advertising costs are reported in general and administrative expenses and include advertising, marketing and promotional programs and are charged as expenses in the year in which incurred. Advertising costs were $34,000 and $47,000 for the years ended December 31, 2019 and 2018, respectively. Accounting for Derivative Instruments The Company accounts for derivative instruments in accordance with ASC 815, which requires additional disclosures about the Company’s objectives and strategies for using derivative instruments, how the derivative instruments and related hedged items are accounted for, and how the derivative instruments and related hedging items affect the financial statements. The Company does not use derivative instruments to hedge exposures to cash flow, market or foreign currency risk. Terms of convertible debt and preferred stock instruments are reviewed to determine whether or not they contain embedded derivative instruments that are required under ASC 815 to be accounted for separately from the host contract and recorded on the balance sheet at fair value. The fair value of derivative liabilities, if any, is required to be revalued at each reporting date, with corresponding changes in fair value recorded in current period operating results. Freestanding warrants issued by the Company in connection with the issuance or sale of debt and equity instruments are considered to be derivative instruments. Pursuant to ASC 815, an evaluation of specifically identified conditions is made to determine whether the fair value of warrants issued is required to be classified as equity or as a derivative liability. Income Taxes The Company follows the asset and liability approach to accounting for income taxes. Under this method, deferred tax assets and liabilities are measured based on differences between the financial reporting and tax bases of assets and liabilities measured using enacted tax rates and laws that are expected to be in effect when differences are expected to reverse. Valuation allowances are established when it is necessary to reduce deferred income tax assets to the amount, if any, expected to be realized in future years. ASC 740, Accounting for Income taxes (“ASC 740”), requires that deferred tax assets be evaluated for future realization and reduced by a valuation allowance to the extent we believe a portion more likely than not will not be realized. We consider many factors when assessing the likelihood of future realization of our deferred tax assets, including our recent cumulative loss experience and expectations of future taxable income by taxing jurisdictions, the carry forwarding periods available to us for tax reporting purposes and other relevant factors. The Company has not recognized a liability for uncertain tax positions. A reconciliation of the beginning and ending amount of unrecognized tax benefits or penalties has not been provided since there has been no unrecognized benefit or penalty. If there were an unrecognized tax benefit or penalty, the Company would recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company files U.S. Federal income tax returns and various returns in state jurisdictions. The Company's open tax years subject to examination by the Internal Revenue Service and the state Departments of Revenue generally remain open for three years from the date of filing. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and to the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates. Net Loss Per Share Basic net loss per share is computed by dividing net loss by the weighted average number of shares of Common Stock outstanding for the period. Diluted net loss per share reflects the potential dilution of securities by adding other Common Stock equivalents, including stock options, shares issuable on exercise of warrants, convertible preferred stock and convertible notes in the weighted average number of common shares outstanding for a period, if dilutive. Common stock equivalents that are anti-dilutive were excluded from the computation of diluted earnings per share which consisted of all outstanding common stock options and warrants. Stock-Based Compensation The Company uses the fair value method to account for the granting of options to purchase shares of its stock whereby all awards are recorded at fair value on the date of the grant. Share based awards with a performance condition are measured based on the probable outcome of that performance condition during the requisite service period. Such an award with a performance condition is accrued if it is probable that a performance condition will be achieved. Compensation costs for stock-based payments that do not include performance conditions are recognized on a straight-line basis. The fair value of all share purchase options is expensed over their requisite service period with a corresponding increase to additional capital surplus. Upon exercise of share purchase options, the consideration paid by the option holder, together with the amount previously recognized in additional capital surplus, is recorded as an increase to share capital. The Company estimates the fair value of each option award on the date of grant using a Black-Scholes option pricing model that uses the assumptions noted in the table below. The Company estimates the fair value of its common stock using the closing stock price of its common stock on the option grant date. The Company estimates the volatility of its common stock at the date of grant based on its historical stock prices. The Company determines the expected life based on the “simplified” method as allowed by SAB 107. The Company uses the risk-free interest rate on the implied yield currently available on U.S. Treasury issues with an equivalent remaining term approximately equal to the expected life of the award. The Company has never paid any cash dividends on its common stock and does not anticipate paying any cash dividends in the foreseeable future. The fair value of shares of restricted stock issued are determined by the Company based on the estimated fair value of the Company’s common stock. The Company issued options to purchase 135,000 shares of common stock to certain employees of the Company during the year ended December 31, 2019 and options to purchase 1,300,000 shares of common stock during the year ended December 31, 2018. The Company used the following assumptions for options granted during the years ended December 31, 2019 and 2018: December 31, December 31, Equity Incentive Plan Assumptions 2019 2018 Expected Term (years) 2 years 2 years Weighted average volatility 100 % 100 % Weighted average risk free rate 2.76 % 2.76 % Expected dividends $ 0 $ 0 Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), The Company does not believe that any other issued, but not yet effective accounting standards, if currently adopted, will have a material effect on the Company’s consolidated financial position, results of operations and cash flows.

COMMON STOCK AND PREFERRED STOC

COMMON STOCK AND PREFERRED STOCK	12 Months Ended
	Dec. 31, 2019
COMMON STOCK AND PREFERRED STOCK
Note 4 - COMMON STOCK AND PREFERRED STOCK	Stock Issuances During the year ended December 31, 2019, the Company issued 12,435,759 shares of common stock for cash and conversion of notes payable proceeds totaling $3,217,000. The Company also issued 2,301,007 shares of common stock to acquire technology and certain other assets of ClariCare Inc. (See Note 12). The Company also issued 66,666 shares of common stock as compensation to a former employee for services performed. The Company authorized 675,000 shares of restricted stock as compensation to certain executives and directors for services performed, of which 412,500 shares vested and were issued in 2019 with the remaining 262,500 shares vesting evenly in 2020 and 2021. Lastly, the Company issued 1,396,026 shares of restricted stock during 2019 related to the vesting of prior year restricted stock grants. During the year ended December 31, 2018, the Company issued 9,265,801 shares of common stock for cash proceeds totaling $2,649,000. The Company also issued 3,400,000 shares of common stock for the purchase of all of the outstanding common stock of Electro-Fish Media (See Note 12). The Company also issued 340,525 shares of common stock as compensation to certain directors and vendors for services performed. The Company issued 5,287,161 shares of restricted stock as compensation to certain executives and directors for services performed, of which 3,191,440 shares vested and were issued in 2018 with the remaining 2,095,720 shares vesting evenly in 2019 and 2020. Lastly, 348,167 shares of restricted stock issued by the Company in 2017 vested during 2018. Stock Options Certain employees and executives have been granted options or warrants that are compensatory in nature. A summary of option activity for the year ended December 31, 2019 and 2018 are presented below: Options Outstanding Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term in Years Aggregate Intrinsic Value Balance Outstanding - January 1, 2018 198,402 $ 10.40 0.7 $ - Granted 1,300,000 $ 0.25 10.2 Exercised - Forfeited/expired (142,245 ) $ 9.05 Balance Outstanding - December 31, 2018 1,356,157 $ 0.31 9.8 $ - Exercisable - December 31, 2018 489,490 $ 0.29 9.1 $ - Balance Outstanding - January 1, 2019 1,356,157 $ 0.31 9.8 $ - Granted 135,000 $ 0.15 9.2 Exercised - Forfeited (81,157 ) $ 1.17 Balance Outstanding - December 31, 2019 1,410,000 $ 0.24 9.2 $ - Exercisable - December 31, 2019 976,667 $ 0.24 9.2 $ - Nonvested Options Number of Options Weighted Average Grant Date Fair Value Weighted Average Remaining Years to Vest Nonvested - January 1, 2018 18,719 $ 10.40 0.7 Granted 1,300,000 $ 0.13 Vested (452,052 ) $ 0.31 Forfeited/expired - Nonvested - December 31, 2018 866,667 $ 0.13 1.6 Nonvested - January 1, 2019 866,667 $ 0.13 1.6 Granted 135,000 $ 0.15 Vested (568,334 ) $ 0.13 Forfeited/expired - Nonvested - December 31, 2019 433,333 $ 0.13 0.6 Future compensation related to nonvested awards expected to vest of $56,000 is estimated to be recognized over a weighted average vesting period of approximately 0.6 years. Restricted Stock Compensation On February 21, 2019, the Company’s Board of Directors approved the grant of 200,000 restricted shares of common stock to Directors of the Company, for services to be rendered during 2019, all of which shares vested on December 31, 2019. Compensation expense related to this grant for the year 2019 was $50,000 based upon the estimated fair value of our common stock of $0.25 per share. On February 21, 2019, the Company’s Board of Directors approved the grant of 475,000 restricted shares of common stock to management, for services rendered, of which 212,500 shares vested on the date of the Board of Director approval, with 131,250 shares vesting on each of the next two anniversary dates of the Board of Director approval. The total unvested restricted stock of 262,500 shares has been excluded from the shares of common stock outstanding on December 31, 2019 in the accompanying financial statements due to the restrictions on the shares. Compensation expense related to this grant for the year 2019 was approximately $81,000 based upon the estimated fair value of our common stock of $0.25 per share. Compensation expense of approximately $33,000 and $5,000 will be recognized related to this grant for each of the years 2020 and 2021, respectively. The Company plans to grant 1,000,000 restricted shares of common stock to an officer, for services rendered and a note extension, effective 2020. Compensation expense related to this planned grant for the year 2019 was $250,000 based upon the estimated fair value of our common stock of $0.25 per share, the offset to which is included in accrued expenses in the 2019 Consolidated Balance Sheets. On April 1, 2018, the Company reached an agreement with a Director of the Company, to issue 1,000,000 shares of restricted common stock as compensation for past services including securities offerings, financings, special projects and other matters similar in nature of which 333,333 shares vested upon issuance and 666,667 shares will vest evenly in 2019 and 2020. The total unvested restricted stock of 333,334 shares has been excluded from the shares of common stock outstanding on December 31, 2019 in the accompanying financial statements due to the restrictions on the shares. Compensation expense related to this grant for the year 2019 was approximately $83,000 based upon the estimated fair value of our common stock of $0.25 per share. Compensation expense related to this grant of approximately $31,000 will be recognized in 2020. On May 22, 2018, the Company’s Board of Directors approved the grant of 4,287,161 shares of restricted common stock to management, for services rendered, of which 2,858,107 shares vested upon issuance and 1,429,054 shares vest evenly in 2019 and 2020. The total unvested restricted stock as of December 31, 2019 of 714,527 shares has been excluded from the shares of common stock outstanding on December 31, 2019 in the accompanying financial statements due to the restrictions on the shares. Compensation expense related to this grant for the year 2019 was approximately $179,000 based upon the estimated fair value of our common stock of $0.25 per share. Compensation expense related to this grant of approximately $67,000 will be recognized in 2020. On November 3, 2017, our Board of Directors approved and authorized the issuance of 2,500,000 restricted shares of common stock to Directors of the Company and certain employees according to the terms of the 2016 Employee Long-Term Incentive Compensation Plan. All shares for Mr. McDermott and Mr. Douglas vested on the date of Board of Director approval, with all other shares to vest as follows: 33% on the date of Board of Director approval, with 33% on each of the next two anniversary dates of the Board of Director approval. Compensation expense related to this grant for the year 2019 was approximately $96,000 based on the estimated fair value of our common stock of $0.25 per share. Of the 2,500,000 restricted shares of common stock authorized on November 3, 2017, there were 2,428,000 shares that vested and 72,000 shares that were forfeited as of December 31, 2019. Warrants During the year ended December 31, 2019, the Company issued 55,000 warrants related to subscriptions of common stock which warrants have an exercise price of $1.35 per share and will expire on December 31, 2020. During the year ended December 31, 2019, none of these warrants expired or were exercised. During the year ended December 31, 2018, the Company issued 4,002,646 warrants related to subscriptions of common stock which warrants have an exercise price of $1.35 per share and will expire on December 31, 2020. During the year ended December 31, 2018, 72,669 warrants expired and none were exercised. The outstanding warrants issued by the Company contain a provision that allows the Company to redeem any or all outstanding and unexercised Warrants at a redemption price of $0.001 per Warrant upon fourteen (14) days’ written notice in the event (i) a Registration Statement registering for sale under the Securities Act of 1933, as amended (the “Act”), the shares of the Company’s Common Stock issuable upon exercise of these Warrants, has been filed with the Securities and Exchange Commission and is in effect on the date of written notice given by the Company to the holders of the warrants, (ii) there exists on the date of the written notice a public trading market for the Company’s Common Stock and such shares are listed for quotation on the NASDAQ Stock Market or the OTC Bulletin Board, (iii) the public trading price of the Company’s Common Stock has equaled or exceeded 150% of the Exercise Price, as then in effect, for twenty (20) of the preceding thirty (30) Trading Days immediately preceding the date of such notice, and (iv) the average daily trading volume during such period has been at least 50,000 shares. The holders of the Warrants called for redemption shall have the right to exercise the Warrants until the close of business on the date next preceding the date fixed for redemption. Warrants Weighted Average Exercise Price Outstanding at January 1, 2018 7,643,003 $ 1.34 Issued 4,002,646 $ 1.35 Exercised - Expired (72,669 ) Outstanding at December 31, 2018 11,572,980 $ 1.35 Outstanding at January 1, 2019 11,572,980 $ 1.35 Issued 55,000 $ 1.35 Exercised - Expired - Outstanding at December 31, 2019 11,627,980 $ 1.35

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2019
PROPERTY AND EQUIPMENT
Note 5 - PROPERTY AND EQUIPMENT	Property and equipment is stated at cost and consist of the following: December 31, December 31, 2019 2018 Furniture and fixtures $ 8,000 $ 8,000 Leasehold improvements 26,000 26,000 Equipment 16,000 16,000 $ 50,000 $ 50,000 Less accumulated depreciation (44,000 ) (39,000 ) $ 6,000 $ 11,000 Depreciation expense on property and equipment for the years ended December 31, 2019 and 2018, were $5,000 and $4,000, respectively.

SOFTWARE DEVELOPMENT COSTS

SOFTWARE DEVELOPMENT COSTS	12 Months Ended
	Dec. 31, 2019
SOFTWARE DEVELOPMENT COSTS
Note 6 - SOFTWARE DEVELOPMENT COSTS	A summary of the capitalization and amortization of software development costs as of the dates indicated follows: December 31, December 31, 2019 2018 Development costs $ 1,936,000 $ 1,513,000 Acquired technology 1,277,000 630,000 Less accumulated amortization (1,697,000 ) (1,069,000 ) $ 1,516,000 $ 1,074,000 Amortization of software development costs and acquired technology for the years ended December 31, 2019 and 2018, were $628,000 and $377,000, respectively. The Company also amortized acquired customer relationship assets related to the ICDLogic LLC acquisition (See Note 12), of $ 22,000 during the year ended December 31, 2019.

LINE OF CREDIT

LINE OF CREDIT	12 Months Ended
	Dec. 31, 2019
LINE OF CREDIT
Note 7 - LINE OF CREDIT	The Company had a revolving line of credit agreement in the amount of $500,000 which had an outstanding balance of $498,000 as of June 30, 2019. All outstanding principal and interest under the line of credit was due and payable on July 15, 2019. In August 2019 the counterparty to the line of credit agreement sold its interest in the line to a limited liability company (LLC) of which at least one stockholder of the Company was a member. In September 2019 the amount owing to the LLC was paid in full and the Company was released of all of its obligations under the line of credit.

LONG TERM DEBT

LONG TERM DEBT	12 Months Ended
	Dec. 31, 2019
LINE OF CREDIT
Note 8 - LONG TERM DEBT	Our notes payable (including accrued interest) are summarized as follows: December 31, December 31, 2019 2018 (1) Note payable bearing interest at 12.0% per annum, due December 31, 2020 $ 118,000 $ 106,000 (2) Note bearing interest at 8% per annum - 494,000 (3) Non-interest bearing note - 10,000 (4) Related Party Long term debt bearing interest at 8%, due April 15, 2021 93,000 92,000 (5) Related Party Promissory note bearing interest at 18%, due December 31, 2020 556,000 714,000 (6) Convertible note bearing interest at 10%, due August 8, 2020 81,000 - (7) Convertible note bearing interest at 10%, due December 16, 2020 45,000 - 893,000 1,416,000 Less current maturities (880,000 ) (1,361,000 ) Total Long-term debt $ 13,000 $ 55,000 Total future minimum payments due on long-term debt as of December 31, 2019: 2020 880,000 2021 13,000 893,000 1. The Company issued a note payable on December 31, 2018 with a principal amount of $100,000 bearing interest at a rate of 12% per annum, with quarterly accrued interest payments and with a balloon payment due by the maturity date of December 31, 2019. The balloon payment due on December 31, 2019 was not made and the Company issued, in exchange for the original note, a new note dated December 31, 2019 with a principal amount of $100,000 bearing interest at a rate of 12% per annum, with quarterly accrued interest payments and a balloon payment due on the maturity date of December 31, 2020. The amounts owing on the note as of December 31, 2019 were $100,000 of principal plus $18,000 of accrued interest. 2. During the year ended December 31, 2019, the Company determined that due to the statute of limitations, this obligation has been legally extinguished and as such has recognized a gain on cancellation of debt totaling $511,000. 3. During the year ended December 31, 2019, the Company determined that due to the statute of limitations, this obligation has been legally extinguished and as such has recognized a gain on cancellation of debt totaling $10,000. 4. The Company executed a promissory note payable to a director of the Company as a part of the terms to a settlement agreement dated April 1, 2018 with a principal amount of $113,000 bearing interest at a rate of 8.0% per annum. Principal payments in the amount of $3,000 with accrued interest were payable monthly starting May 15, 2018. 5. The Company issued a note payable on December 31, 2018 with a principal amount of $714,000, bearing interest at a rate of 18% per annum, with monthly principal and accrued interest payments and with a balloon payment due by the maturity date of December 31, 2019. The balloon payment due on December 31, 2019 was not made and the Company issued, in exchange for the original note, a new note dated December 31, 2019 with a principal amount of $556,000, bearing interest at a rate of 18% per annum, with monthly principal and accrued interest payments and a balloon payment due by the maturity date of December 31, 2020. The amounts owing on the note as of December 31, 2019 were $556,000 of principal plus a nominal amount of accrued interest. 6. In August 2019 the Company signed a $78,000 convertible promissory note due twelve months after issuance and received $75,000 net of closing fees. Interest at 10% per annum is not due until maturity. The amounts owing on the convertible note as of December 31, 2019 were $78,000 in principal with accrued interest of $3,000. One hundred eighty (180) days following the date of funding and thereafter, the note is convertible into common stock of the Company ("Common Stock"). The conversion price of the Note is 61% of the Market Price (as defined in the Note) for the Common Stock (a discount of 39%). The conversion price is determined on the basis of the average of the three (3) lowest closing bid prices for the Common Stock during the prior fifteen (15) trading day period. There is an ascending prepayment penalty percentage applied should the Company prepay the note during the first one hundred eighty (180) days after which the Company shall have no right of prepayment. The note holder is limited to receive upon conversion no more than 4.99% of the issued and outstanding Common Stock at the time of conversion at any one time. 7. In December 2019 the Company signed a $45,000 convertible promissory note payable to a different finance company due twelve (12) months after issuance and received $40,000 net of closing fees. Interest at 10% per annum is not due until maturity. The amounts owing on the convertible note as of December 31, 2019 were $45,000 of principal and a nominal amount of accrued interest. One hundred eighty (180) days following the date of funding and thereafter, the note is convertible into common stock of the Company ("Common Stock"). The conversion price of the Note is 61% of the Market Price (as defined in the Note) for the Common Stock (a discount of 39%). The conversion price is determined on the basis of the lowest traded price for the Common Stock during the prior twenty (20) trading day period. There is an ascending prepayment penalty percentage applied should the Company prepay the note during the first one hundred eighty (180) days after which the Company shall have no right of prepayment. The note holder is limited to receive upon conversion no more than 4.99% of the issued and outstanding Common Stock at the time of conversion at any one time.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
INCOME TAXES
Note 9 - INCOME TAXES	The Company has incurred net losses since inception. As of December 31, 2019, the Company had cumulative federal net operating loss carryforwards of approximately $6,433,000, which are available to be carried forward indefinitely and federal net operating loss carryforwards of approximately $57,031,000 which at the latter date may be carried forward for tax years ending through December 31, 2037. Utilization of NOL carryforwards may be limited under various sections of the Internal Revenue Code depending on the nature of the Company’s operations. The Company’s income tax returns are subject to examination by the Internal Revenue Service and applicable state taxing authorities, generally for a period of three years from the date of filing. Deferred taxes comprise the following as of December 31, 2019 and 2018: 2019 2018 Deferred Income Tax Assets 13,327,000 13,779,000 Valuation Allowance (13,327,000 ) (13,779,000 ) Net Deferred Tax Asset - - Reconciliation of the effective income tax rate to the federal statutory rate: Federal Income Tax Rate 21 % 21 % Change in valuation allowance including the effect of the rate change -21 % -21 % Effective income tax rate 0 % 0 %

CONCENTRATION OF CREDIT RISK

CONCENTRATION OF CREDIT RISK	12 Months Ended
	Dec. 31, 2019
CONCENTRATION OF CREDIT RISK
Note 10 - CONCENTRATION OF CREDIT RISK	The Company has historically provided financial terms to customers in accordance with what management views as industry norms. Access to the Company’s software products usually requires immediate payment but can extend several months under certain circumstances. Management periodically and regularly reviews customer account activity in order to assess the adequacy of allowances for doubtful accounts, considering such factors as economic conditions and each customer’s payment history and creditworthiness. If the financial condition of our customers were to deteriorate, or if they were otherwise unable to make payments in accordance with management’s expectations, we might have to increase our allowance for doubtful accounts, modify their financial terms and/or pursue alternative collection methods. Revenue concentrations for the years ended December 31, 2019 and 2018, and the accounts receivables concentrations at December 31, 2019 and 2018 are as follows: Net Sales For the Years Ended Accounts Receivable at December 31, December 31, December 31, December 31, 2019 2018 2019 2018 Customer A 42 % 33 % 32 % 15 % Customer B 2 % 8 % 0 % 42 % Customer C 0 % 9 % 0 % 14 % Customer D 3 % 0 % 29 % 0 %

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2019
COMMITMENTS AND CONTINGENCIES
Note 11 - COMMITMENTS AND CONTINGENCIES	(A) LEASE COMMITMENTS On November 15, 2017 the Company signed a three-year lease agreement for approximately 4,100 square feet of office space located in Winter Garden, Florida in which the Company has its headquarters. The lease provides for a one-year renewal term at the option of the Company. As of December 31, 2019, undiscounted future lease obligations for the office space are $58,000 for the year ended December 31, 2020. On January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842), Lease costs for the year ended December 31, 2019 were $57,000 and cash paid for amounts included in the measurement of lease liabilities for the year ended December 31, 2019 were $67,000. As of December 31, 2019, the following represents the difference between the remaining undiscounted lease commitments under non-cancelable leases and the lease liabilities: Undiscounted minimum lease commitments $ 58,000 Present value adjustment using incremental borrowing rate (3,000 ) Lease liabilities $ 55,000 B) EMPLOYMENT AGREEMENTS WITH NAMED EXECUTIVE OFFICERS On July 1, 2018, Robert McDermott, the President and Chief Executive Officer of the Company, entered into an employment agreement with the Company pursuant to which the Company, pursuant to which the Company employed Mr. McDermott for a term of three years and six months. Mr. McDermott received a starting annual base salary of $250,000 per annum which increased to $262,500 per annum on July 1, 2019 and will increase to $275,500 per annum on July 1, 2020 and $289,000 per annum on July 1, 2021. In addition, Mr. McDermott is eligible to receive incentive bonus compensation pursuant to an executive bonus plan approved by the Board of Directors or the Compensation Committee of the Board of Directors. For the year ended December 31, 2018 Mr. McDermott received a bonus of 350,000 restricted shares and for the year ended December 31, 2019 he received a cash bonus of $75,000 and the Company plans to award him 800,000 restricted shares in early 2020 which has been reflected as compensation expense in the accompanying 2019 Consolidated Statements of Operations. Also, Mr. McDermott was awarded an option to purchase 700,000 shares of the Company’s Common Stock of which 33% (233,333 shares) vested on July 1, 2018, another 33% (233,333 shares) vested on July 1, 2019 and the remaining 33% (233,334 shares) will vest on July 1, 2020. In the event of termination of Mr. McDermott’s employment due to a change in control, by reason of his death or disability or by the Company without cause, his stock options that have not already vested will fully vest on the date of termination and any restrictions on any restricted stock owned by Mr. McDermott shall be lifted. Further, in the event of the termination of Mr. McDermott’s employment (i) due to a change in control Mr. McDermott will continue to receive his base salary and his annual bonus computed at 100% of his base salary for the 24 month period following the date of termination, (ii) due to death or disability Mr. McDermott or his estate will continue to receive his base salary during the six month period following the date of termination and (iii) by the Company without cause Mr. McDermott will continue to receive his base salary for the 18 month period following the date of termination or through the end of the employment period, whichever is longer. On October 1, 2018, David Fidanza, the Chief Information Officer of the Company, entered into an employment agreement with the Company, pursuant to which the Company employed Mr. Fidanza for a term of three years. Mr. Fidanza received a starting annual base salary of $115,000 per annum which increased to $125,000 per annum on October 1, 2019 and will increase to $130,000 per annum on October 1, 2020. Also, Mr. Fidanza was awarded an option to purchase 300,000 shares of the Company’s Common Stock. 33% of the option award (100,000 shares) vested on October 1, 2018 and another 33% (100,000 shares) vested on October 1, 2019 and the remaining 33% (100,000 shares) will vest on October 1, 2020. In the event of termination of Mr. Fidanza’s employment due to a change in control, by reason of his death or disability or by the Company without cause, the stock option will become fully vested on the date of termination and any restrictions on any restricted stock owned by Mr. Fidanza shall be lifted. Further, in the event of the termination of Mr. Fidanza’s employment (i) due to a change in control Mr. Fidanza will continue to receive his base salary and his annual bonus computed at 100% of his base salary for the six month period following the date of termination, (ii) due to death or disability Mr. Fidanza or his estate will continue to receive his base salary during the six month period following the date of termination and (iii) by the Company without cause Mr. Fidanza will continue to receive his base salary for the six month period following the date of termination or through the end of the employment period, whichever is longer. On November 1, 2018, Murali Chakravarthi, the Chief Technology Officer of the Company, entered into an employment agreement with the Company, pursuant to which the Company employed Mr. Chakravarthi for three years. Mr. Chakravarthi is to receive an annual base salary of $120,000. Also, Mr. Chakravarthi was awarded an option to purchase 300,000 shares of the Company’s Common Stock. 33% of the option award (100,000 shares) vested on November 1, 2018 and another 33% (100,000 shares) vested on November 1, 2019 and the remaining 33% (100,000 shares) will vest on November 1, 2020. In the event of termination of Mr. Chakravarthi’s employment due to a change in control, by reason of his death or disability or by the Company without cause, the stock option will become fully vested on the date of termination and any restrictions on any restricted stock owned by Mr. Chakravarthi shall be lifted. Further, in the event of the termination of Mr. Chakravarthi’s employment (i) due to a change in control Mr. Chakravarthi will continue to receive his base salary and his annual bonus computed at 100% of his base salary for the six month period following the date of termination, (ii) due to death or disability Mr. Chakravarthi or his estate will continue to receive his base salary during the six month period following the date of termination and (iii) by the Company without cause Mr. Chakravarthi will continue to receive his base salary for the six month period following the date of termination or through the end of the employment period, whichever is longer. (C) LITIGATION From time to time, the Company may become involved in various lawsuits and legal proceedings that arise in the ordinary course of business. Litigation is, however, subjective to inherent uncertainties and an adverse result in these or other matters may harm the Company’s business. The Company is not aware of any legal proceedings or claims that it believes would or could have, individually or in the aggregate, a material adverse effect on its operations or financial position.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	12 Months Ended
	Dec. 31, 2019
BUSINESS COMBINATIONS
Note 12 - BUSINESS COMBINATIONS	Electro-Fish Media Inc. On January 19, 2018, iCoreConnect Inc. acquired all of the outstanding common stock of Electro Fish Media Inc., a Texas corporation, in exchange for 3,400,000 shares of our Common Stock (at an agreed upon price of $0.50 per share). Pursuant to the guidance in FASB Accounting Standards Codification (“ASC”) 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, the Company performed a review of the essential elements of inputs, activities and outputs of the acquisition. The Company determined that the purchase of the Electro-Fish Media stock did not qualify as a business combination. The Company has recorded the $1,700,000 purchase price as an other non-operating expense in the accompanying Statement of Operations for the year ended December 31, 2018. ClariCare Inc. On April 30, 2019 iCoreConnect Inc., acquired technology and certain other assets of ClariCare Inc., an Indiana corporation, in exchange for (i) $50,000 in cash, (ii) 2,301,007 shares of the Company’s common stock, subject to adjustment, and (iii) the assumption of certain specified liabilities including a company credit card balance not to exceed $23,000, all upon the terms and conditions set forth in the Asset Purchase Agreement dated as of April 30, 2019 (the “ClariCare Asset Purchase Agreement”) which was attached as an exhibit to the Company’s Form 8-K filed on May 2, 2019 with the SEC. The Company is required to issue additional shares on September 30, 2020 if the stock price is less than $1.49 per share as of that date. ClariCare had created cloud-based dental analytics and practice management software to provide dentists and providers to the dental market modern tools to run their practices more efficiently and effectively and which are a complement to our current dental market product offering. The Company accounted for the acquisition of the ClariCare business and assets as an asset acquisition under ASC 805, which provides guidance for asset acquisitions. Under the guidance, if substantially all of the acquisition is made up of one asset or similar assets, then the acquisition is an asset acquisition. The Company believes the assets acquired from ClariCare are similar and consider them all to be acquired technology (See Note 6). Further, the Company does not believe the acquired technology constitutes a business as defined under ASC 805.

PRO FORMA FINANCIAL STATEMENTS

PRO FORMA FINANCIAL STATEMENTS	12 Months Ended
	Dec. 31, 2019
PRO FORMA FINANCIAL STATEMENTS
Note 13 - PRO FORMA FINANCIAL STATEMENTS	On January 3, 2020, the Company purchased the assets of Computer Plumber, LLC, doing business as TrinIT (“TrinIT”), an IT service company located in the Charlotte, North Carolina area to complement our technology line up in exchange for; (i) 730,000 shares of Common Stock of the Company, (ii) $400,000 in cash, and (iii) the assumption of certain specified liabilities. The following unaudited pro forma condensed combined financial statements are based on our historical audited consolidated financial statements and TrinIT’s historical unaudited financial statements as adjusted to give effect to the January 3, 2020 acquisition by the Company of TrinIT. The unaudited pro forma condensed combined statements of operations for the year ended December 31, 2019 give effect to the acquisition of TrinIT as if it had occurred on January 1, 2019. The unaudited pro form condensed balance sheet as of December 31, 2019 gives effect to the acquisition of TrinIT as if it had occurred on December 31, 2019. The pro forma combined financial statements do not necessarily reflect what the combined companies’ financial condition or results of operations would have been had the acquisition occurred on the dates indicated. They also may not be useful in predicting the future financial condition and results of operations of the combined companies. The actual financial position and results of operations may differ significantly from the pro forma amounts reflected herein due to a variety of factors. UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET AS OF DECEMBER 31, 2019 (All amounts rounded to the nearest thousand except share amounts) iCoreConnect TrinIT* Pro Forma Adjustments Notes Pro Forma Combined ASSETS Cash and cash equivalents $ 445,000 $ 15,000 $ (400,000 ) $ 60,000 Accounts receivable, net 101,000 - - 101,000 Prepaid expenses 8,000 - - 8,000 Total current assets 554,000 15,000 (400,000 ) 169,000 Property and equipment, net 6,000 3,000 - 9,000 Right of use lease asset - operating 53,000 - - 53,000 Software development costs, net 625,000 - - 625,000 Acquired technology, net 891,000 - - 891,000 Goodwill and intangible assets, net 393,000 583,000 (a) 976,000 Total long-term assets 1,968,000 3,000 583,000 2,554,000 TOTAL ASSETS $ 2,522,000 $ 18,000 $ 183,000 $ 2,723,000 LIABILITIES AND STOCKHOLDERS' DEFICIT Accounts payable and accrued expenses $ 1,001,000 - - $ 1,001,000 Operating lease liability, current portion 55,000 - - 55,000 Current maturities of long-term debt 880,000 - - 880,000 Total current liabilities 1,936,000 - - 1,936,000 Long-term debt 121,000 - - 121,000 TOTAL LIABILITIES 2,057,000 - - 2,057,000 TOTAL STOCKHOLDERS' EQUITY 465,000 18,000 183,000 666,000 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,522,000 $ 18,000 $ 183,000 $ 2,723,000 See accompanying note to the Unaudited Pro Forma Condensed Combined Financial Information * - The financial statements of TrinIT as of and for the year ended December 31, 2019 are unaudited and have been compiled by management. UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENTS OF OPERATIONS YEAR ENDED DECEMBER 31, 2019 (All amounts rounded to the nearest thousand except share amounts) iCoreConnect TrinIT* Pro Forma Adjustments Pro Forma Combined Revenue $ 1,014,000 $ 983,000 - $ 1,997,000 Cost of sales 305,000 371,000 - 676,000 Gross profit 709,000 612,000 - 1,321,000 Expenses Selling, general and administrative 3,434,000 299,000 - 3,733,000 Depreciation and amortization 655,000 - - 655,000 Total operating expenses 4,089,000 299,000 - 4,388,000 Income (Loss) from operations (3,380,000 ) 313,000 - (3,067,000 ) Other income (expense) Interest expense (236,000 ) - - (236,000 ) Other (expense) income (64,000 ) (30,000 ) - (94,000 ) Gain on cancellation of liabilities 697,000 - - 697,000 Total other income (expense) 397,000 (30,000 ) - 367,000 Net income (loss) $ (2,983,000 ) $ 283,000 - $ (2,700,000 ) Net loss per share available to common stockholders, basic and diluted $ (0.05 ) $ (0.05 ) Weighted average number of shares, basic and diluted $ 58,546,699 $ 59,276,699 See accompanying note to the Unaudited Pro Forma Condensed Combined Financial Information * - The financial statements of TrinIT as of and for the year ended December 31, 2019 are unaudited and have been compiled by management. Note – Pro forma adjustments (a) Since all information required to perform a detailed valuation analysis of TrinIT’s intangible assets could not be obtained as of the date of this filing, these pro forma adjustments are provisional in nature and subject to change in the near-term.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2019
SUBSEQUENT EVENTS
Note 14 - SUBSEQUENT EVENTS	For the period January 1, 2020 through March 27, 2020, the Company issued 2,280,000 shares of common stock for cash proceeds totaling $570,000. The Company also issued 730,000 shares of common stock during the period to acquire the assets of Computer Plumber, LLC, doing business at TrinIT (“TrinIT”) (See Note 13). Lastly, the Company issued 131,250 shares of restricted stock during the period related to the vesting of a 2019 restricted stock grant.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting	The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States (“GAAP”). Significant accounting principles followed by the Company and the methods of applying those principles, which materially affect the determination of financial position, results of operations and cash flows are summarized below.
Cash and Cash Equivalents	The Company classifies highly liquid temporary investments with an original maturity of three months or less when purchased as cash equivalents. The Company maintains cash balances at various financial institutions. Balances at United States banks are insured by the Federal Deposit Insurance Corporation up to $250,000. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risk for cash on deposit.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts receivable are customer obligations due under normal trade terms. We maintain an allowance for doubtful accounts for estimated losses resulting from the potential inability of certain customers to make required future payments on amounts due us. Management determines the adequacy of this allowance by periodically evaluating the aging and past due nature of individual customer accounts receivable balances and considering the customer’s current financial situation as well as the existing industry economic conditions and other relevant factors that would be useful in assessing the risk of collectability. If the future financial condition of our customers were to deteriorate, resulting in their inability to make specific required payments, additions to the allowance for doubtful accounts may be required. In addition, if the financial condition of our customers improves and collections of amounts outstanding commence or are reasonably assured, then we may reverse previously established allowances for doubtful accounts. The Company has estimated and recorded an allowance for doubtful accounts of $17,000 and $12,000 as of December 31, 2019 and 2018, respectively.
Property, Equipment and Depreciation	Property, equipment, and leasehold improvements are recorded at their historical cost. Depreciation and amortization have been determined using the straight line method over the estimated useful lives of the assets which are computers and office equipment (3 years) and for office furniture and fixtures (7 years). The cost of repairs and maintenance is charged to operations in the period incurred.
Software Development Costs and Acquired Software	The Company accounts for software development costs, including costs to develop software products or the software component of products to be sold to external users. In accordance with ASC 985-730, Computer Software Research and Development, research and planning phase costs are expensed as incurred and development phase costs including direct materials and services, payroll and benefits and interest costs are capitalized. We have determined that technological feasibility for our products to be marketed to external users was reached before the release of those products. As a result, the development costs and related acquisition costs after the establishment of technological feasibility were capitalized as incurred. Capitalized costs for software to be sold to external users and software acquired in a business combination are amortized based on current and projected future revenue for each product with an annual minimum equal to the straight line amortization over three years.
Impairment of Long Lived Assets	Long lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount that the carrying amount of the asset exceeds the fair value of the asset.
Goodwill	Goodwill is comprised of the purchase price of business acquisitions in excess of the fair value of the net assets acquired. Goodwill is reviewed for impairment annually or when events or circumstances indicate that the carrying value of the reporting unit may exceed its fair value. If the carrying value of a reporting unit exceeds the fair value, an impairment loss will be recognized. The Company did not recognize any impairment charges for each of the years ended December 31, 2019 and 2018.
Revenue Recognition	We have 3 primary sources of revenue as of December 31, 2019: 1. Electronic Health Records (EHR/Practice Management) software 2. Encrypted and HIPAA Compliant Secure email 3. ICD Coding Software 1) Revenue from EHR software licensing arrangements include private cloud hosting services provided to clients that have purchased a perpetual or specific term license to our EHR software solution and who have contracted with us to host the software. These arrangements provide the client with a contractual right to take possession of the software at any time during the private cloud hosting period without significant penalty and it is feasible for the client to either use the software on its own equipment or to contract with an unrelated third party to host the software. Private cloud hosting services are not deemed to be essential to the functionality of the software. The Company recognizes revenue from the sale or licensing of its EHR software at the time the customer has access to use the software, with deferral of revenues associated with the cloud hosting and post contract support performance objectives, allocated based on relative fair values. The Company defers revenue from the sale of its EHR software products associated with cloud hosting and post contract support performance objectives over the term of the license agreement. Cloud hosting performance objective revenues are deferred based on forecasted cloud storage costs, encrypted secure email performance revenues are deferred based on the forecasted sales price of those services to other customers of the Company and customer support performance revenues are deferred based on forecasted customer support costs based on Company experience. 2) Encrypted HIPAA compliant secure email services are provided on an annual subscription basis using the software as a service (“SaaS”) model with revenues recognized ratably over the contract term. 3) ICD Coding Software provides the 10th revision of the International Statistical Classification of Diseases and Related Health Problems (ICD), a medical classification list by the World Health Organization (WHO). It contains codes for diseases, signs and symptoms, abnormal findings, complaints, social circumstances, and external causes of injury or diseases. ICD coding services are provided on a subscription basis using the software as a service (“SaaS”) model with revenues recognized ratably over the contract term. The length of the contract period varies from monthly to multiyear. On January 3, 2020, the Company purchased the assets of Computer Plumber, LLC, doing business as TrinIT (“TrinIT”), an IT service company located in the Charlotte, North Carolina area to complement our technology line up. TrinIT generates revenue primarily from their: 1) monthly recurring “Managed Service Provider (MSP)” model, 2) periodic sale and installation of IT related hardware, and 3) ad hoc customer IT projects. The MSP model revenue is recognized monthly on a recurring basis while the revenue relating to IT hardware and ad hoc customer IT projects is recognized when the services are performed. (See Note 13).
Advertising Costs	Advertising costs are reported in general and administrative expenses and include advertising, marketing and promotional programs and are charged as expenses in the year in which incurred. Advertising costs were $34,000 and $47,000 for the years ended December 31, 2019 and 2018, respectively.
Accounting for Derivative Instruments	The Company accounts for derivative instruments in accordance with ASC 815, which requires additional disclosures about the Company’s objectives and strategies for using derivative instruments, how the derivative instruments and related hedged items are accounted for, and how the derivative instruments and related hedging items affect the financial statements. The Company does not use derivative instruments to hedge exposures to cash flow, market or foreign currency risk. Terms of convertible debt and preferred stock instruments are reviewed to determine whether or not they contain embedded derivative instruments that are required under ASC 815 to be accounted for separately from the host contract and recorded on the balance sheet at fair value. The fair value of derivative liabilities, if any, is required to be revalued at each reporting date, with corresponding changes in fair value recorded in current period operating results. Freestanding warrants issued by the Company in connection with the issuance or sale of debt and equity instruments are considered to be derivative instruments. Pursuant to ASC 815, an evaluation of specifically identified conditions is made to determine whether the fair value of warrants issued is required to be classified as equity or as a derivative liability.
Income Taxes	The Company follows the asset and liability approach to accounting for income taxes. Under this method, deferred tax assets and liabilities are measured based on differences between the financial reporting and tax bases of assets and liabilities measured using enacted tax rates and laws that are expected to be in effect when differences are expected to reverse. Valuation allowances are established when it is necessary to reduce deferred income tax assets to the amount, if any, expected to be realized in future years. ASC 740, Accounting for Income taxes (“ASC 740”), requires that deferred tax assets be evaluated for future realization and reduced by a valuation allowance to the extent we believe a portion more likely than not will not be realized. We consider many factors when assessing the likelihood of future realization of our deferred tax assets, including our recent cumulative loss experience and expectations of future taxable income by taxing jurisdictions, the carry forwarding periods available to us for tax reporting purposes and other relevant factors. The Company has not recognized a liability for uncertain tax positions. A reconciliation of the beginning and ending amount of unrecognized tax benefits or penalties has not been provided since there has been no unrecognized benefit or penalty. If there were an unrecognized tax benefit or penalty, the Company would recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company files U.S. Federal income tax returns and various returns in state jurisdictions. The Company's open tax years subject to examination by the Internal Revenue Service and the state Departments of Revenue generally remain open for three years from the date of filing.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and to the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.
Net Loss Per Share	Basic net loss per share is computed by dividing net loss by the weighted average number of shares of Common Stock outstanding for the period. Diluted net loss per share reflects the potential dilution of securities by adding other Common Stock equivalents, including stock options, shares issuable on exercise of warrants, convertible preferred stock and convertible notes in the weighted average number of common shares outstanding for a period, if dilutive. Common stock equivalents that are anti-dilutive were excluded from the computation of diluted earnings per share which consisted of all outstanding common stock options and warrants.
Stock-Based Compensation	The Company uses the fair value method to account for the granting of options to purchase shares of its stock whereby all awards are recorded at fair value on the date of the grant. Share based awards with a performance condition are measured based on the probable outcome of that performance condition during the requisite service period. Such an award with a performance condition is accrued if it is probable that a performance condition will be achieved. Compensation costs for stock-based payments that do not include performance conditions are recognized on a straight-line basis. The fair value of all share purchase options is expensed over their requisite service period with a corresponding increase to additional capital surplus. Upon exercise of share purchase options, the consideration paid by the option holder, together with the amount previously recognized in additional capital surplus, is recorded as an increase to share capital. The Company estimates the fair value of each option award on the date of grant using a Black-Scholes option pricing model that uses the assumptions noted in the table below. The Company estimates the fair value of its common stock using the closing stock price of its common stock on the option grant date. The Company estimates the volatility of its common stock at the date of grant based on its historical stock prices. The Company determines the expected life based on the “simplified” method as allowed by SAB 107. The Company uses the risk-free interest rate on the implied yield currently available on U.S. Treasury issues with an equivalent remaining term approximately equal to the expected life of the award. The Company has never paid any cash dividends on its common stock and does not anticipate paying any cash dividends in the foreseeable future. The fair value of shares of restricted stock issued are determined by the Company based on the estimated fair value of the Company’s common stock. The Company issued options to purchase 135,000 shares of common stock to certain employees of the Company during the year ended December 31, 2019 and options to purchase 1,300,000 shares of common stock during the year ended December 31, 2018. The Company used the following assumptions for options granted during the years ended December 31, 2019 and 2018: December 31, December 31, Equity Incentive Plan Assumptions 2019 2018 Expected Term (years) 2 years 2 years Weighted average volatility 100 % 100 % Weighted average risk free rate 2.76 % 2.76 % Expected dividends $ 0 $ 0
Recently Issued Accounting Pronouncements	In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), The Company does not believe that any other issued, but not yet effective accounting standards, if currently adopted, will have a material effect on the Company’s consolidated financial position, results of operations and cash flows.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Summary of assumptions used for option granted	December 31, December 31, Equity Incentive Plan Assumptions 2019 2018 Expected Term (years) 2 years 2 years Weighted average volatility 100 % 100 % Weighted average risk free rate 2.76 % 2.76 % Expected dividends $ 0 $ 0

COMMON STOCK AND PREFERRED ST_2

COMMON STOCK AND PREFERRED STOCK (Tables)	12 Months Ended
	Dec. 31, 2019
COMMON STOCK AND PREFERRED STOCK
Summary of stock option activity	Options Outstanding Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term in Years Aggregate Intrinsic Value Balance Outstanding - January 1, 2018 198,402 $ 10.40 0.7 $ - Granted 1,300,000 $ 0.25 10.2 Exercised - Forfeited/expired (142,245 ) $ 9.05 Balance Outstanding - December 31, 2018 1,356,157 $ 0.31 9.8 $ - Exercisable - December 31, 2018 489,490 $ 0.29 9.1 $ - Balance Outstanding - January 1, 2019 1,356,157 $ 0.31 9.8 $ - Granted 135,000 $ 0.15 9.2 Exercised - Forfeited (81,157 ) $ 1.17 Balance Outstanding - December 31, 2019 1,410,000 $ 0.24 9.2 $ - Exercisable - December 31, 2019 976,667 $ 0.24 9.2 $ - Nonvested Options Number of Options Weighted Average Grant Date Fair Value Weighted Average Remaining Years to Vest Nonvested - January 1, 2018 18,719 $ 10.40 0.7 Granted 1,300,000 $ 0.13 Vested (452,052 ) $ 0.31 Forfeited/expired - Nonvested - December 31, 2018 866,667 $ 0.13 1.6 Nonvested - January 1, 2019 866,667 $ 0.13 1.6 Granted 135,000 $ 0.15 Vested (568,334 ) $ 0.13 Forfeited/expired - Nonvested - December 31, 2019 433,333 $ 0.13 0.6
Summary of stockholders equity note warrants or rights	Warrants Weighted Average Exercise Price Outstanding at January 1, 2018 7,643,003 $ 1.34 Issued 4,002,646 $ 1.35 Exercised - Expired (72,669 ) Outstanding at December 31, 2018 11,572,980 $ 1.35 Outstanding at January 1, 2019 11,572,980 $ 1.35 Issued 55,000 $ 1.35 Exercised - Expired - Outstanding at December 31, 2019 11,627,980 $ 1.35

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2019
PROPERTY AND EQUIPMENT
Schedule of Property and equipment	December 31, December 31, 2019 2018 Furniture and fixtures $ 8,000 $ 8,000 Leasehold improvements 26,000 26,000 Equipment 16,000 16,000 $ 50,000 $ 50,000 Less accumulated depreciation (44,000 ) (39,000 ) $ 6,000 $ 11,000

SOFTWARE DEVELOPMENT COSTS (Tab

SOFTWARE DEVELOPMENT COSTS (Tables)	12 Months Ended
	Dec. 31, 2019
SOFTWARE DEVELOPMENT COSTS
Summary of capitalization and amortization of software development costs	December 31, December 31, 2019 2018 Development costs $ 1,936,000 $ 1,513,000 Acquired technology 1,277,000 630,000 Less accumulated amortization (1,697,000 ) (1,069,000 ) $ 1,516,000 $ 1,074,000

LONG TERM DEBT (Tables)

LONG TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2019
LINE OF CREDIT
Schedule of maturities of long term debt	December 31, December 31, 2019 2018 (1) Note payable bearing interest at 12.0% per annum, due December 31, 2020 $ 118,000 $ 106,000 (2) Note bearing interest at 8% per annum - 494,000 (3) Non-interest bearing note - 10,000 (4) Related Party Long term debt bearing interest at 8%, due April 15, 2021 93,000 92,000 (5) Related Party Promissory note bearing interest at 18%, due December 31, 2020 556,000 714,000 (6) Convertible note bearing interest at 10%, due August 8, 2020 81,000 - (7) Convertible note bearing interest at 10%, due December 16, 2020 45,000 - 893,000 1,416,000 Less current maturities (880,000 ) (1,361,000 ) Total Long-term debt $ 13,000 $ 55,000
Summary of future minimum payment long term debt	2020 880,000 2021 13,000 893,000

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2019
INCOME TAXES
Schedule of deferred tax assets and liabilities	2019 2018 Deferred Income Tax Assets 13,327,000 13,779,000 Valuation Allowance (13,327,000 ) (13,779,000 ) Net Deferred Tax Asset - -
Schedule of Reconcilation of effective federal statutory rate	Reconciliation of the effective income tax rate to the federal statutory rate: Federal Income Tax Rate 21 % 21 % Change in valuation allowance including the effect of the rate change -21 % -21 % Effective income tax rate 0 % 0 %

CONCENTRATION OF CREDIT RISK (T

CONCENTRATION OF CREDIT RISK (Tables)	12 Months Ended
	Dec. 31, 2019
CONCENTRATION OF CREDIT RISK
Schedules of concentration of risk by customers	Net Sales For the Years Ended Accounts Receivable at December 31, December 31, December 31, December 31, 2019 2018 2019 2018 Customer A 42 % 33 % 32 % 15 % Customer B 2 % 8 % 0 % 42 % Customer C 0 % 9 % 0 % 14 % Customer D 3 % 0 % 29 % 0 %

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2019
COMMITMENTS AND CONTINGENCIES
Schedule of components of lease investments	Undiscounted minimum lease commitments $ 58,000 Present value adjustment using incremental borrowing rate (3,000 ) Lease liabilities $ 55,000

PRO FORMA FINANCIAL STATEMENTS

PRO FORMA FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
PRO FORMA FINANCIAL STATEMENTS (Tables)
Schedule of Pro forma adjustments	UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET AS OF DECEMBER 31, 2019 (All amounts rounded to the nearest thousand except share amounts) iCoreConnect TrinIT* Pro Forma Adjustments Notes Pro Forma Combined ASSETS Cash and cash equivalents $ 445,000 $ 15,000 $ (400,000 ) $ 60,000 Accounts receivable, net 101,000 - - 101,000 Prepaid expenses 8,000 - - 8,000 Total current assets 554,000 15,000 (400,000 ) 169,000 Property and equipment, net 6,000 3,000 - 9,000 Right of use lease asset - operating 53,000 - - 53,000 Software development costs, net 625,000 - - 625,000 Acquired technology, net 891,000 - - 891,000 Goodwill and intangible assets, net 393,000 583,000 (a) 976,000 Total long-term assets 1,968,000 3,000 583,000 2,554,000 TOTAL ASSETS $ 2,522,000 $ 18,000 $ 183,000 $ 2,723,000 LIABILITIES AND STOCKHOLDERS' DEFICIT Accounts payable and accrued expenses $ 1,001,000 - - $ 1,001,000 Operating lease liability, current portion 55,000 - - 55,000 Current maturities of long-term debt 880,000 - - 880,000 Total current liabilities 1,936,000 - - 1,936,000 Long-term debt 121,000 - - 121,000 TOTAL LIABILITIES 2,057,000 - - 2,057,000 TOTAL STOCKHOLDERS' EQUITY 465,000 18,000 183,000 666,000 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,522,000 $ 18,000 $ 183,000 $ 2,723,000 See accompanying note to the Unaudited Pro Forma Condensed Combined Financial Information * - The financial statements of TrinIT as of and for the year ended December 31, 2019 are unaudited and have been compiled by management. UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENTS OF OPERATIONS YEAR ENDED DECEMBER 31, 2019 (All amounts rounded to the nearest thousand except share amounts) iCoreConnect TrinIT* Pro Forma Adjustments Pro Forma Combined Revenue $ 1,014,000 $ 983,000 - $ 1,997,000 Cost of sales 305,000 371,000 - 676,000 Gross profit 709,000 612,000 - 1,321,000 Expenses Selling, general and administrative 3,434,000 299,000 - 3,733,000 Depreciation and amortization 655,000 - - 655,000 Total operating expenses 4,089,000 299,000 - 4,388,000 Income (Loss) from operations (3,380,000 ) 313,000 - (3,067,000 ) Other income (expense) Interest expense (236,000 ) - - (236,000 ) Other (expense) income (64,000 ) (30,000 ) - (94,000 ) Gain on cancellation of liabilities 697,000 - - 697,000 Total other income (expense) 397,000 (30,000 ) - 367,000 Net income (loss) $ (2,983,000 ) $ 283,000 - $ (2,700,000 ) Net loss per share available to common stockholders, basic and diluted $ (0.05 ) $ (0.05 ) Weighted average number of shares, basic and diluted $ 58,546,699 $ 59,276,699 See accompanying note to the Unaudited Pro Forma Condensed Combined Financial Information * - The financial statements of TrinIT as of and for the year ended December 31, 2019 are unaudited and have been compiled by management.

NATURE OF OPERATIONS (Details N

NATURE OF OPERATIONS (Details Narrative)	12 Months Ended
	Dec. 31, 2019
NATURE OF OPERATIONS
State of incorporation	Nevada

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
GOING CONCERN
Loss from operations	$ (3,380,000)	$ (3,218,000)
Accumulated deficit	74,340,000	71,344,000
Total stockholders' equity	465,000	$ (958,000)	$ (1,264,000)
Working capital deficit	$ (1,382,000)

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Equity Incentive Plan Assumptions
Expected Term (years)	2 years	2 years
Weighted average volatility	100.00%	100.00%
Weighted average risk free rate	2.76%	2.76%
Expected dividends	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Allowance for doubtful accounts	$ 17,000	$ 12,000
Advertising Costs	34,000	$ 47,000
FDIC insured limit	250,000
Decrease in retained earning due to adoption of ASU 2016-02	13,000
Increase in assets due to adoption of ASU 2016-02	112,000
Increase in liabilities due to adoption of ASU 2016-02	$ 125,000
Certain employees [Member]
Common stock shares reserve for future issuance upon exercise of options	135,000	1,300,000
Furniture and Fixtures [Member]
Estimated useful life	7 years
Computers and office equipment [Member]
Estimated useful life	3 years

COMMON STOCK AND PREFERRED ST_3

COMMON STOCK AND PREFERRED STOCK (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Options Outstanding
Number of Options/Warrants Outstanding, Beginning	1,356,157	198,402
Number of Options Outstanding, Granted	135,000	1,300,000
Number of Options Outstanding, Exercised
Number of Options Outstanding, Forfeited/expired	(81,157)	(142,245)
Number of Options/Warrants Outstanding, Ending	1,410,000	1,356,157
Number of Options Outstanding, Exercisable Ending	976,667	489,490
Weighted Average Exercise Price, Beginning	$ 0.31	$ 10.40
Weighted Average Exercise Price, Granted	0.15	0.25
Weighted Average Exercise Price, Exercised
Weighted Average Exercise Price, Forfeited/expired	1.17	9.05
Weighted Average Exercise Price, Ending	0.24	0.31
Weighted Average Exercise Price, Exercisable Ending	$ 0.24	$ 0.29
Weighted Average Remaining Contractual Term in Years, Beginning	9 years 9 months 18 days	8 months 12 days
Weighted Average Remaining Contractual Term in Years, Granted	9 years 2 months 12 days	10 years 2 months 12 days
Weighted Average Remaining Contractual Term in Years, Ending	9 years 2 months 12 days	9 years 9 months 18 days
Weighted Average Remaining Contractual Term in Years, Exercisable Ending	9 years 2 months 12 days	9 years 1 month 6 days
Aggregate Intrinsic Value, Beginning
Aggregate Intrinsic Value, Ending
Aggregate Intrinsic Value, Exercisable Ending
Nonvested Options
Number of Options Nonvested, Beginning	866,667	18,719
Number of Options Nonvested, Granted	135,000	1,300,000
Number of Options Nonvested, Vested	(568,334)	(452,052)
Number of Options Nonvested, Forfeited/expired
Number of Options Nonvested, Ending	433,333	866,667
Weighted Average grant date Fair Value Nonvested, Beginning	$ 0.13	$ 10.40
Weighted Average grant date Fair Value Granted	0.15	0.13
Weighted Average grant date Fair Value Vested	0.13	0.31
Weighted Average grant date Fair Value Forfeited/expired
Weighted Average grant date Fair Value Nonvested, Ending	$ 0.13	$ 0.13
Weighted Average Remaining Years to vest Nonvested, Begining	1 year 7 months 6 days	8 months 12 days
Weighted Average Remaining Years to vest Nonvested, Ending	7 months 6 days	1 year 7 months 6 days

COMMON STOCK AND PREFERRED ST_4

COMMON STOCK AND PREFERRED STOCK (Details 1) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Number of Warrants Outstanding, Issued	135,000	1,300,000
Number of Warrants Outstanding, Exercised	976,667	489,490
Weighted Average Exercise Price, Beginning	$ 0.31	$ 10.40
Weighted Average Exercise Price, Issued	0.15	0.25
Weighted Average Exercise Price, Ending	$ 0.24	$ 0.31
Warrants [Member]
Number of Warrants Outstanding, Begining	11,572,980	7,643,003
Number of Warrants Outstanding, Issued	55,000	4,002,646
Number of Warrants Outstanding, Exercised
Number of Warrants Outstanding, Expired		(72,669)
Number of Warrants Outstanding, Ending	11,627,980	11,572,980
Weighted Average Exercise Price, Beginning	$ 1.35	$ 1.34
Weighted Average Exercise Price, Issued	1.35	1.35
Weighted Average Exercise Price, Ending	$ 1.35	$ 1.35

COMMON STOCK AND PREFERRED ST_5

COMMON STOCK AND PREFERRED STOCK (Details Narrative) - USD ($)	1 Months Ended		12 Months Ended
	Apr. 30, 2019	Feb. 21, 2019	Dec. 31, 2019	Dec. 31, 2018
Common stock shares issued for last year stock grant			1,396,026	348,167
Common stock shares issued for cash and conversion of notes payable, shares			12,435,759	9,265,801
Common stock shares issued for cash and conversion of notes payable, value			$ 3,217,000	$ 2,649,000
Restricted stock grant during period			135,000	1,300,000
Restricted stock vested/issued			(568,334)	(452,052)
Number of Options Outstanding, Forfeited/expired			(81,157)	(142,245)
Weighted average vesting period			7 months 6 days	1 year 7 months 6 days
Warrans expired			$ 1.17	$ 9.05
Warrant [Member]
Share price per share			$ 1.35
Common stock, shares subscription			55,000
Expire date			Dec. 31, 2020
Warrant One [Member]
Share price per share				$ 1.35
Common stock, shares subscription				4,002,646
Expire date				Dec. 31, 2020
Warrans expired				$ 72,668
Nonvested Options [Member]
Weighted average vesting period			7 months 6 days
Share-based Compensation			$ 56,000
ClariCare Inc. [Member]
Business acquisition, consideration transferred, shares issued	2,301,007		2,301,007
Electro-Fish Media [Member]
Common stock issued for purchase				3,400,000
Management [Member]
Compensation expense			$ 81,000
Restricted stock grant during period		475,000
Common stock per share price			$ 0.25
Restricted stock issued/vested, description			212,500 shares vested on the date of the Board of Director approval, with 131,250 shares vesting on each of the next two anniversary dates of the Board of Director approval.
Unvested restricted stock excluded from common stock outstanding			262,500
2020 [Member] | Management [Member]
Compensation expense			$ 33,000
2021 [Member] | Management [Member]
Compensation expense			5,000
Board of Directors [Member] | 2020 [Member]
Compensation expense			$ 67,000
Board of Directors [Member] | May 22, 2018 [Member]
Common stock shares issued for last year stock grant			4,287,161
Compensation expense			$ 179,000
Unvested restricted stock excluded from common stock outstanding			714,527
Shares issued/vested			2,858,107
Share price per share			$ 0.25
Board of Directors [Member] | Evenly in 2019 and 2020 [Member]
Restricted stock vested/issued			1,429,054
Board of Directors [Member] | November 3, 2017 [Member] | 2016 Employee LongTerm Incentive Compensation Plan [Member]
Common stock shares issued for last year stock grant			2,500,000
Compensation expense			$ 96,000
Restricted stock issued/vested, description			All shares for Mr. McDermott and Mr. Douglas vested on the date of Board of Director approval, with all other shares to vest as follows: 33% on the date of Board of Director approval, with 33% on each of the next two anniversary dates of the Board of Director approval
Shares issued/vested			2,428,000
Share price per share			$ 0.25
Number of Options Outstanding, Forfeited/expired			72,000
Director [Member]
Compensation expense			$ 50,000
Restricted stock grant during period		200,000
Common stock per share price			$ 0.25
Restricted stock vested/issued			200,000
Director [Member] | 2020 [Member]
Compensation expense			$ 31,000
Director [Member] | Evenly in 2019 and 2020 [Member]
Shares issued/vested			666,667
Director [Member] | April 1, 2018 [Member]
Common stock shares issued for last year stock grant			1,000,000
Compensation expense			$ 83,000
Unvested restricted stock excluded from common stock outstanding			333,334
Shares issued/vested			333,333
Share price per share			$ 0.25
Officers [Member]
Compensation expense			$ 250,000
Restricted stock grant during period			1,000,000
Common stock per share price			$ 0.25
Restricted stock vested/issued			1,000,000
Executives And Directors [Member] | Restricted Stock [Member]
Shares issued/vested			412,500	3,191,440
Stock reserved for future issuance as compensation			675,000	5,287,161
Executives And Directors [Member] | Evenly in 2019 and 2020 [Member] | Restricted Stock [Member]
Shares issued/vested				2,095,720
Executives And Directors [Member] | Evenly in 2020 and 2021 [Member] | Restricted Stock [Member]
Shares issued/vested			262,500
Former employee [Member]
Common stock shares issued for services			66,666
Directors and vendors [Member]
Common stock issued as compensastion				340,525

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Property, plant and equipment, gross	$ 50,000	$ 50,000
Less accumulated depreciation	(44,000)	(39,000)
Property, plant and equipment, net	6,000	11,000
Equipment [Member]
Property, plant and equipment, gross	16,000	16,000
Furniture and Fixtures [Member]
Property, plant and equipment, gross	8,000	8,000
Leasehold improvements [Member]
Property, plant and equipment, gross	$ 26,000	$ 26,000

PROPERTY AND EQUIPMENT (Detai_2

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
PROPERTY AND EQUIPMENT
Depreciation expense	$ 5,000	$ 5,000

SOFTWARE DEVELOPMENT COSTS (Det

SOFTWARE DEVELOPMENT COSTS (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Acquired technology	$ 891,000	$ 539,000
Software development costs, net	625,000	535,000
Software Development [Member]
Development costs	1,936,000	1,513,000
Acquired technology	1,277,000	630,000
Less Accumulated amortization	(1,697,000)	(1,069,000)
Software development costs, net	$ 1,516,000	$ 1,074,000

SOFTWARE DEVELOPMENT COSTS (D_2

SOFTWARE DEVELOPMENT COSTS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Amortization of software development	$ 628,000	$ 377,000
ICDLogic, LLC [Member]
Amortization of software development	$ 22,000

LINE OF CREDIT (Details Narrati

LINE OF CREDIT (Details Narrative) - Revolving line of credit facility [Member] - USD ($)	1 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Line of credit facility maximum borrowing capacity	$ 500,000
Line of credit	$ 498,000
Line of credit, maturity date	Jul. 15, 2019

LONG TERM DEBT (Details)

LONG TERM DEBT (Details) - USD ($)	Dec. 31, 2019		Dec. 31, 2018
Long-term debt, gross	$ 893,000		$ 1,416,000
Less current maturities	(880,000)		(1,361,000)
Total Long-term debt	13,000		55,000
Notes Payable [Member]
Long-term debt, gross	118,000	[1]	106,000
Notes Payable One [Member]
Long-term debt, gross		[2]	494,000
Notes Payable Two [Member]
Long-term debt, gross			10,000
Notes Payable Three [Member]
Long-term debt, gross	93,000		92,000	[3]
Notes Payable Four [Member]
Long-term debt, gross	556,000	[4]	714,000	[5]
Notes Payable Five [Member]
Long-term debt, gross	81,000			[6]
Notes Payable Six [Member]
Long-term debt, gross	$ 45,000
[1]	The Company executed a promissory note payable to a director of the Company as a part of the terms to a settlement agreement dated April 1, 2018 with a principal amount of $113,000 bearing interest at a rate of 8.0% per annum. Principal payments in the amount of $3,000 with accrued interest were payable monthly starting May 15, 2018.
[2]	The Company issued a note payable on December 31, 2018 with a principal amount of $714,000, bearing interest at a rate of 18% per annum, with monthly principal and accrued interest payments and with a balloon payment due by the maturity date of December 31, 2019. The balloon payment due on December 31, 2019 was not made and the Company issued, in exchange for the original note, a new note dated December 31, 2019 with a principal amount of $556,000, bearing interest at a rate of 18% per annum, with monthly principal and accrued interest payments and a balloon payment due by the maturity date of December 31, 2020. The amounts owing on the note as of December 31, 2019 were $556,000 of principal plus a nominal amount of accrued interest.
[3]	The Company issued a note payable on December 31, 2018 with a principal amount of $100,000 bearing interest at a rate of 12% per annum, with quarterly accrued interest payments and with a balloon payment due by the maturity date of December 31, 2019. The balloon payment due on December 31, 2019 was not made and the Company issued, in exchange for the original note, a new note dated December 31, 2019 with a principal amount of $100,000 bearing interest at a rate of 12% per annum, with quarterly accrued interest payments and a balloon payment due on the maturity date of December 31, 2020. The amounts owing on the note as of December 31, 2019 were $100,000 of principal plus $18,000 of accrued interest.
[4]	In August 2019 the Company signed a $78,000 convertible promissory note due twelve months after issuance and received $75,000 net of closing fees. Interest at 10% per annum is not due until maturity. The amounts owing on the convertible note as of December 31, 2019 were $78,000 in principal with accrued interest of $3,000. One hundred eighty (180) days following the date of funding and thereafter, the note is convertible into common stock of the Company ("Common Stock"). The conversion price is subject to a discount of 39%. The conversion price is determined on the basis of the average of the three (3) lowest closing bid prices for the Common Stock during the prior fifteen (15) trading day period. There is an ascending prepayment penalty percentage applied should the Company prepay the note during the first one hundred eighty (180) days after which the Company shall have no right of prepayment. The note holder is limited to receive upon conversion no more than 4.99% of the issued and outstanding Common Stock at the time of conversion at any one time.
[5]	During the year ended December 31, 2019, the Company determined that due to the statute of limitations, this obligation has been legally extinguished and as such has recognized a gain on cancellation of debt totaling $511,000.
[6]	During the year ended December 31, 2019, the Company determined that due to the statute of limitations, this obligation has been legally extinguished and as such has recognized a gain on cancellation of debt totaling $10,000.

LONG TERM DEBT (Details 1)

LONG TERM DEBT (Details 1)	Dec. 31, 2019USD ($)
LINE OF CREDIT
2020	$ 880,000
2021	13,000
Long-term debt, maturities	$ 893,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
INCOME TAXES
Deferred Income Tax Assets	$ 13,327,000	$ 13,779,000
Valuation Allowance	(13,327,000)	(13,779,000)
Net Deferred Tax Asset

INCOME TAXES (Details 1)

INCOME TAXES (Details 1)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
INCOME TAXES
Federal Income Tax Rate	21.00%	21.00%
Change in valuation allowance including the effect of the rate change	(21.00%)	(21.00%)
Effective income tax rate	0.00%	0.00%

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	12 Months Ended
	Dec. 31, 2019USD ($)
INCOME TAXES
Operating loss carryforwards, federal	$ 6,433,000
Description of operating loss carryforwards, federal	federal net operating loss carryforwards of approximately $57,031,000 which at the latter date may be carried forward for tax years ending through December 31, 2037.

CONCENTRATION OF CREDIT RISK (D

CONCENTRATION OF CREDIT RISK (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Sales Revenue, Net [Member] | Customer A member [Member]
Concentration Risk, Percentage	42.00%	33.00%
Sales Revenue, Net [Member] | Customer B member [Member]
Concentration Risk, Percentage	2.00%	8.00%
Sales Revenue, Net [Member] | Customer C member [Member]
Concentration Risk, Percentage	0.00%	9.00%
Sales Revenue, Net [Member] | Customer D member [Member]
Concentration Risk, Percentage	3.00%	0.00%
Accounts Receivable [Member] | Customer A member [Member]
Concentration Risk, Percentage	32.00%	15.00%
Accounts Receivable [Member] | Customer B member [Member]
Concentration Risk, Percentage	0.00%	42.00%
Accounts Receivable [Member] | Customer C member [Member]
Concentration Risk, Percentage	0.00%	14.00%
Accounts Receivable [Member] | Customer D member [Member]
Concentration Risk, Percentage	29.00%	0.00%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - Lease [Member]	Dec. 31, 2019USD ($)
Undiscounted minimum lease commitments	$ 58,000
Present value adjustment using incremental borrowing rate	(3,000)
Lease liabilities	$ 55,000

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Lease [Member]
Payments of lease liabilities	$ 67,000
Lease costs	57,000
Undiscounted minimum lease commitments	$ 58,000
January 1, 2019 [Member] | Lease [Member]
Weighted-average incremental borrowing rate	11.90%
Weighted-average remaining lease term	1 year 7 months 5 days
Increase (decrease) in assets due to adoption of ASU 2016-02	$ 112,000
Increase (decrease) in liabilities due to adoption of ASU 2016-02	125,000
Increase (decrease) in retained earnings due to adoption of ASU 2016-02	$ (13,000)
Murali Chakravarthi [Member] | November 1, 2019 [Member] | Chakravarthi 2018 Agreement [Member]
Common stock shares issuable upon exercise of stock options vested	100,000
Murali Chakravarthi [Member] | November 1, 2020 [Member] | Chakravarthi 2018 Agreement [Member]
Common stock shares issuable upon exercise of stock options vested	100,000
Murali Chakravarthi [Member] | November 1, 2018 [Member] | Chakravarthi 2018 Agreement [Member]
Common stock shares issuable upon exercise of stock options vested	100,000
Annual base salary	$ 120,000
Term of agreement	3 years
Common stock shares issuable upon exercise of stock options	300,000
Description for the termination of agreement	(i) due to a change in control Mr. Chakravarthi will continue to receive his base salary and his annual bonus computed at 100% of his base salary for the six month period following the date of termination, (ii) due to death or disability Mr. Chakravarthi or his estate will continue to receive his base salary during the six month period following the date of termination, (iii) by the Company without cause Mr. Chakravarthi will continue to receive his base salary for the six month period following the date of termination or through the end of the employment period, whichever is longer
David Fidanza [Member] | October 1, 2020 [Member] | Fidanza 2018 Agreement [Member]
Common stock shares issuable upon exercise of stock options vested	100,000
Annual base salary	$ 130,000
David Fidanza [Member] | October 1, 2019 [Member] | Fidanza 2018 Agreement [Member]
Common stock shares issuable upon exercise of stock options vested	100,000
Annual base salary	$ 125,000
David Fidanza [Member] | October 1, 2018 [Member] | Fidanza 2018 Agreement [Member]
Common stock shares issuable upon exercise of stock options vested	100,000
Annual base salary	$ 115,000
Term of agreement	3 years
Common stock shares issuable upon exercise of stock options	300,000
Description for the termination of agreement	(i) due to a change in control Mr. Fidanza will continue to receive his base salary and his annual bonus computed at 100% of his base salary for the six month period following the date of termination, (ii) due to death or disability Mr. Fidanza or his estate will continue to receive his base salary during the six month period following the date of termination, (iii) by the Company without cause Mr. Fidanza will continue to receive his base salary for the six month period following the date of termination or through the end of the employment period, whichever is longer
Robert McDermott [Member] | Employment agreement [Member]
Restricted shares issued/awarded as bonus	800,000	350,000
Bonus paid to officer under agreement	$ 75,000
Robert McDermott [Member] | July 1, 2019 [Member] | Employment agreement [Member]
Common stock shares issuable upon exercise of stock options vested	233,333
Annual base salary	$ 262,500
Robert McDermott [Member] | July 1, 2020 [Member] | Employment agreement [Member]
Common stock shares issuable upon exercise of stock options vested	233,334
Annual base salary	$ 275,500
Robert McDermott [Member] | July 1, 2021 [Member] | Employment agreement [Member]
Annual base salary	$ 289,000
Robert McDermott [Member] | July 1, 2018 [Member] | Employment agreement [Member]
Common stock shares issuable upon exercise of stock options vested	233,333
Annual base salary	$ 250,000
Term of agreement	3 years 6 months
Common stock shares issuable upon exercise of stock options	700,000
Description for the termination of agreement	(i) due to a change in control Mr. McDermott will continue to receive his base salary and his annual bonus computed at 100% of his base salary for the 24 month period following the date of termination, (ii) due to death or disability Mr. McDermott or his estate will continue to receive his base salary during the six month period following the date of termination, (iii) by the Company without cause Mr. McDermott will continue to receive his base salary for the 18 month period following the date of termination or through the end of the employment period, whichever is longer

BUSINESS COMBINATIONS (Details

BUSINESS COMBINATIONS (Details Narrative) - USD ($)	1 Months Ended		12 Months Ended
	Apr. 30, 2019	Jan. 19, 2018	Dec. 31, 2019	Dec. 31, 2018
ClariCare Inc. [Member]
Business acquisition consideration transferred, shares issued	2,301,007		2,301,007
Business acquisition consideration transferred in cash	$ 50,000
Business acquisition, description for assumption of certain liabilities payable	the assumption of certain specified liabilities including a company credit card balance not to exceed $23,000, all upon the terms and conditions set forth in the Asset Purchase Agreement dated as of April 30, 2019
Business acquision, description for issuance of additional shares	The Company is required to issue additional shares on September 30, 2020 if the stock price is less than $1.49 per share as of that date
Electro Fish Media Inc [Member]
Stock issued for acquisition of Electro-Fish Media, Shares		3,400,000
Price per share		$ 0.50
Stock issued for acquisition of Electro-Fish Media, Amount				$ 1,700,000

PRO FORMA FINANCIAL STATEMENT_2

PRO FORMA FINANCIAL STATEMENTS (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 445,000	$ 1,000	$ 52,000
Accounts receivable, net	101,000	224,000
Prepaid expenses	8,000	9,000
Total current assets	554,000	234,000
Property and equipment, net	6,000	11,000
Right of use lease asset - operating	53,000
Software development costs, net	625,000	535,000
Acquired technology, net	891,000	539,000
Goodwill and intangible assets, net	393,000	416,000
Total long-term assets	1,968,000	1,501,000
TOTAL ASSETS	2,522,000	1,735,000
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable and accrued expenses	1,001,000	664,000
Operating lease liability, current portion	55,000
Current maturities of long-term debt	880,000	1,361,000
Total current liabilities	1,936,000	2,523,000
Long-term debt	121,000	170,000
TOTAL LIABILITIES	2,057,000	2,693,000
TOTAL STOCKHOLDERS' EQUITY	465,000	(958,000)	$ (1,264,000)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	2,522,000	$ 1,735,000
iCoreConnect [Member]
ASSETS
Cash and cash equivalents	445,000
Accounts receivable, net	101,000
Prepaid expenses	8,000
Total current assets	554,000
Property and equipment, net	6,000
Right of use lease asset - operating	53,000
Software development costs, net	625,000
Acquired technology, net	891,000
Goodwill and intangible assets, net	393,000
Total long-term assets	1,968,000
TOTAL ASSETS	2,522,000
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable and accrued expenses	1,001,000
Operating lease liability, current portion	55,000
Current maturities of long-term debt	880,000
Total current liabilities	1,936,000
Long-term debt	121,000
TOTAL LIABILITIES	2,057,000
TOTAL STOCKHOLDERS' EQUITY	465,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	2,522,000
TrinIT [Member]
ASSETS
Cash and cash equivalents	15,000
Accounts receivable, net
Prepaid expenses
Total current assets	15,000
Property and equipment, net	3,000
Right of use lease asset - operating
Software development costs, net
Acquired technology, net
Goodwill and intangible assets, net
Total long-term assets	3,000
TOTAL ASSETS	18,000
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable and accrued expenses
Operating lease liability, current portion
Current maturities of long-term debt
Total current liabilities
Long-term debt
TOTAL LIABILITIES
TOTAL STOCKHOLDERS' EQUITY	18,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	18,000
Pro Forma Adjustment [Member]
ASSETS
Cash and cash equivalents	(400,000)
Accounts receivable, net
Prepaid expenses
Total current assets	(400,000)
Property and equipment, net
Right of use lease asset - operating
Software development costs, net
Acquired technology, net
Goodwill and intangible assets, net	583,000
Total long-term assets	583,000
TOTAL ASSETS	183,000
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable and accrued expenses
Operating lease liability, current portion
Current maturities of long-term debt
Total current liabilities
Long-term debt
TOTAL LIABILITIES
TOTAL STOCKHOLDERS' EQUITY	183,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	183,000
Pro Forma Combined [Member]
ASSETS
Cash and cash equivalents	60,000
Accounts receivable, net	101,000
Prepaid expenses	8,000
Total current assets	169,000
Property and equipment, net	9,000
Right of use lease asset - operating	53,000
Software development costs, net	625,000
Acquired technology, net	891,000
Goodwill and intangible assets, net	976,000
Total long-term assets	2,554,000
TOTAL ASSETS	2,723,000
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable and accrued expenses	1,001,000
Operating lease liability, current portion	55,000
Current maturities of long-term debt	880,000
Total current liabilities	1,936,000
Long-term debt	121,000
TOTAL LIABILITIES	2,057,000
TOTAL STOCKHOLDERS' EQUITY	666,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 2,723,000

PRO FORMA FINANCIAL STATEMENT_3

PRO FORMA FINANCIAL STATEMENTS (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenue	$ 1,014,000	$ 1,089,000
Cost of sales	305,000	449,000
Gross profit	709,000	640,000
Expenses
Selling, general and administrative	3,434,000	3,451,000
Depreciation and amortization	655,000	407,000
Total operating expenses	4,089,000	3,858,000
Income (Loss) from operations	(3,380,000)	(3,218,000)
Other income (expense)
Interest expense	(236,000)	(232,000)
Other (expense) income	64,000	1,740,000
Gain on cancellation of liabilities	(697,000)
Total other income (expense)	397,000	(1,972,000)
Net income (loss)	$ (2,983,000)	$ (5,190,000)
Net loss per share available to common stockholders, basic and diluted	$ (0.05)	$ (0.12)
Weighted average number of shares, basic and diluted	58,546,699	44,622,040
Pro Forma Adjustment [Member]
Revenue
Cost of sales
Gross profit
Expenses
Selling, general and administrative
Depreciation and amortization
Total operating expenses
Income (Loss) from operations
Other income (expense)
Interest expense
Other (expense) income
Gain on cancellation of liabilities
Total other income (expense)
Net income (loss)
Net loss per share available to common stockholders, basic and diluted
Weighted average number of shares, basic and diluted
Pro Forma Combined [Member]
Revenue	$ 1,997,000
Gross profit	1,321,000
Expenses
Selling, general and administrative	3,733,000
Depreciation and amortization	655,000
Total operating expenses	4,388,000
Income (Loss) from operations	(3,067,000)
Other income (expense)
Interest expense	(236,000)
Other (expense) income	94,000
Gain on cancellation of liabilities	697,000
Total other income (expense)	367,000
Net income (loss)	$ (2,700,000)
Net loss per share available to common stockholders, basic and diluted	$ (0.05)
Weighted average number of shares, basic and diluted	59,276,699
Cost of sales	$ 676,000
TrinIT [Member]
Revenue	983,000
Gross profit	612,000
Expenses
Selling, general and administrative	299,000
Depreciation and amortization
Total operating expenses	299,000
Income (Loss) from operations	313,000
Other income (expense)
Interest expense
Other (expense) income	30,000
Gain on cancellation of liabilities
Total other income (expense)	(30,000)
Net income (loss)	$ 283,000
Net loss per share available to common stockholders, basic and diluted
Weighted average number of shares, basic and diluted
Cost of sales	$ 371,000
iCoreConnect [Member]
Revenue	1,014,000
Cost of sales	305,000
Gross profit	709,000
Expenses
Selling, general and administrative	3,434,000
Depreciation and amortization	655,000
Total operating expenses	4,089,000
Income (Loss) from operations	(3,380,000)
Other income (expense)
Interest expense	(236,000)
Other (expense) income	64,000
Gain on cancellation of liabilities	697,000
Total other income (expense)	397,000
Net income (loss)	$ (2,983,000)
Net loss per share available to common stockholders, basic and diluted	$ (0.05)
Weighted average number of shares, basic and diluted	58,546,699

PRO FORMA FINANCIAL STATEMENT_4

PRO FORMA FINANCIAL STATEMENTS (Details Narrative) - Subsequent Event [Member] - Computer Plumber, LLC [Member]	1 Months Ended
	Jan. 03, 2020USD ($)shares
Business acquisition, consideration transferred, cash | $	$ 400,000
Business acquisition, consideration transferred, shares issued | shares	730,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 27, 2020	Dec. 31, 2019	Dec. 31, 2018
Proceeds from issuance of common stock		$ 3,197,000	$ 2,649,000
Subsequent Event [Member]
Proceeds from issuance of common stock	$ 570,000
Common stock shares issued for cash	2,280,000
Subsequent Event [Member] | 2019 restricted stock grant [Member]
Restricted stock, shares issued	131,250
Subsequent Event [Member] | Computer Plumber, LLC [Member]
Business acquisition, consideration transferred, shares issued	730,000