Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 6,486,433 $ 6,814,117
Accounts receivable, net of allowance of $330,311 1,762,294 1,926,859
Unbilled services 621,368 284,218
Prepaid expenses and other current assets 1,487,869 1,685,728
Total current assets 10,357,964 10,710,922
Property and equipment, net 569,024 636,901
Operating lease right-of-use assets 604,222 964,990
Intangible assets, net 4,935,448 3,492,234
Goodwill 1,011,952 1,011,952
Deferred tax assets 988,870 990,958
Deposits and other assets 190,805 190,805
Total assets 18,658,285 17,998,762
Current liabilities:    
Accounts payable 2,073,943 2,038,025
Accrued expenses 1,890,492 1,743,148
Accrued interest 23,192 28,784
Income taxes payable 69,614 69,614
Long-term debt – current portion 528,501 293,696
Long-term – related party – current portion 103,333 108,309
Finance lease obligations – current portion 143,569 166,571
Operating lease liabilities – current portion 348,048 465,813
Deferred revenue 2,541,805 2,475,583
Total current liabilities 7,722,497 7,389,543
Long-term debt net of current portion 1,061,872 463,602
Long-term – related party - net of current portion 103,333 103,333
Finance lease obligations net of current portion 152,297 186,284
Operating lease liabilities net of current portion 256,174 499,177
Total liabilities 9,296,173 8,641,939
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, value
Common stock, value 52 52
Additional paid-in capital 9,997,087 9,951,142
Accumulated deficit (635,027) (594,371)
Total stockholders’ equity 9,362,112 9,356,823
Total liabilities and stockholders’ equity 18,658,285 17,998,762
Series A Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock, value $ 0 $ 0