Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 6,814,117 $ 6,595,416
Accounts receivable, net of allowance of $330,311 and $375,000 1,926,859 1,580,242
Unbilled services 284,218 52,072
Prepaid expenses and other current assets 1,685,728 400,820
Total current assets 10,710,922 8,628,550
Property and equipment, net 636,901 523,040
Operating lease right-of-use assets 964,990 1,373,720
Intangible assets, net 3,492,234 3,126,336
Goodwill 1,011,952 1,011,952
Deferred tax assets 990,958 1,039,084
Deposits and other assets 190,805 198,726
Total assets 17,998,762 15,901,408
Current liabilities:    
Accounts payable 2,038,025 1,875,115
Accrued expenses 1,743,148 1,330,786
Accrued interest 28,784 21,206
Income taxes payable 69,614 318,031
Long term debt – current portion 293,696 99,903
Long term debt – related party - current portion 108,309 162,398
Long term convertible debt - related party - current portion 0 282,699
Finance lease obligations – current portion 166,571 118,658
Operating lease liabilities – current portion 465,813 481,250
Deferred revenue 2,475,583 2,039,241
Total current liabilities 7,389,543 6,729,287
Long term debt net of current portion 463,602 290,918
Long term debt - related party - net of current portion 103,333 211,642
Long term convertible debt – related party - net of current portion 0 434,783
Finance lease obligations net of current portion 186,284 62,316
Operating lease liabilities net of current portion 499,177 892,470
Total liabilities 8,641,939 8,621,416
Commitments and Contingencies (see Note 13)
Stockholders’ equity:    
Preferred stock, value
Common stock, value 52 46
Additional paid-in capital 9,951,142 7,739,883
Accumulated deficit (594,371) (459,937)
Total stockholders’ equity 9,356,823 7,279,992
Total liabilities and stockholders’ equity 17,998,762 15,901,408
Series A Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock, value $ 0 $ 0