v3.24.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net Income (loss) $ (2,034,435) $ (17,753,838)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss from discontinued operations 335,993 11,447,910
Depreciation and amortization 217,236 219,986
Stock-based compensation 710,550 1,276,455
Deferred income tax expense (42,934) (3,019,124)
Amortization of right-of-use assets 130,535 183,070
Accretion of deferred acquisition consideration 27,370 80,098
Gain on litigation settlement (1,442,468) 0
Gain on sale of equity investment and settlement of contingent consideration receivable (382,525) 0
Equity in loss of affiliate 245,525 0
Changes in operating assets and liabilities:    
Accounts receivable 511,697 35,303
Prepaid expenses and other current assets 158,242 (15,455)
Other assets 60,886 (2,205)
Accounts payable (170,348) (76,710)
Contract liabilities (68,216) (4,079)
Accrued payroll and related liabilities and other accrued liabilities (76,574) 235,259
Operating lease liability (207,186) (192,128)
Commissions payable (94,810) (99,217)
Cash used in operating activities of continuing operations (2,121,462) (7,684,675)
Cash used in operating activities of discontinued operations (693,106) 1,670,714
Net cash used in operating activities (2,814,568) (6,013,961)
Cash flows from investing activities    
Acquisition of property and equipment 0 (535,902)
Proceeds from sale of equity investment and settlement of contingent consideration receivable 1,400,000 0
Proceeds from disposal of business 935,974 0
Net cash provided by (used in) investing activities 2,335,974 (535,902)
Cash flows from financing activities    
Borrowings under revolving line of credit 575,000 425,000
Repayments under revolving line of credit (500,000) 0
Premium financing borrowings 305,759 0
Premium financing repayments (305,759) 0
Proceeds from issuance of stock 347,108 1,887,000
Proceeds from exercise of stock options 7,400 37,642
Net cash provided by financing activities 429,508 2,349,642
Net decrease in cash and cash equivalents (49,086) (4,200,221)
Cash and cash equivalents, beginning of period 731,081 4,931,302
Cash and cash equivalents, end of period 681,995 731,081
Supplemental cash flow Information    
Interest paid 73,678 1,250
Non-cash investing and financing activities:    
Non-cash proceeds on disposal of business 1,263,000 0
Value of common stock issued in connection with common stock purchase agreement $ 0 $ 150,000

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