Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Current assets:    
Cash $ 9,427,360 $ 6,595,416
Accounts receivable, net of allowance of $325,000 and $375,000, respectively 1,470,391 1,580,242
Unbilled services 138,748 52,072
Prepaid expenses and other current assets 1,519,417 400,820
Total current assets 12,555,916 8,628,550
Property and equipment, net 661,647 523,040
Operating lease right-of-use assets 1,235,332 1,373,720
Intangible assets, net 3,700,238 3,126,336
Goodwill 1,011,952 1,011,952
Deferred tax assets 827,917 1,039,084
Deposits and other assets 193,819 198,726
Total assets 20,186,821 15,901,408
Current liabilities:    
Accounts payable 1,142,737 1,875,115
Accrued expenses 1,062,375 1,330,786
Accrued interest 22,629 21,206
Income taxes payable 83,031 318,031
Long-term debt – current portion 428,765 262,301
Long-term convertible debt – current portion 0 282,699
Finance lease obligations – current portion 176,054 118,658
Operating lease liabilities – current portion 515,550 481,250
Deferred revenue 2,469,811 2,039,241
Total current liabilities 5,900,952 6,729,287
Long-term debt net of current portion 817,849 502,560
Long-term convertible debt net of current portion 0 434,783
Finance lease obligations net of current portion 158,121 62,316
Operating lease liabilities net of current portion 719,782 892,470
Total liabilities 7,596,704 8,621,416
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, value
Common stock, value 52 46
Additional paid-in capital 12,565,034 7,739,883
Retained earnings (accumulated deficit) 25,031 (459,937)
Total stockholders’ equity 12,590,117 7,279,992
Total liabilities and stockholders’ equity 20,186,821 15,901,408
Series A Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock, value $ 0 $ 0