Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 681,995 $ 731,081
Accounts receivable 1,117,862 1,629,559
Prepaid expenses and other current assets 267,351 442,445
Total current assets 2,067,208 2,803,085
Intangible assets, net of accumulated amortization of $484,461 and $308,217, respectively 1,005,539 1,181,783
Goodwill 1,125,101 1,125,101
Right-of-use operating lease asset 245,569 376,104
Property and equipment, net of accumulated depreciation and amortization of $432,620 and $391,628, respectively 57,999 98,991
Other assets 18,419 79,305
Assets held for sale 0 2,316,845
Total assets 4,519,835 7,981,214
Current liabilities    
Accounts payable 403,441 573,789
Revolving line of credit 500,000 425,000
Accrued payroll and related liabilities 615,766 676,796
Commissions payable 30,223 125,033
Income taxes payable 3,450 3,101
Other accrued liabilities 267,604 283,497
Contract liabilities 114,540 182,756
Operating lease liabilities - current 163,282 203,342
Deferred acquisition consideration 0 1,415,098
Total current liabilities 2,098,306 3,888,412
Operating lease liabilities - non-current 136,652 303,778
Deferred tax liabilities, net 16,187 59,121
Total liabilities 2,251,145 4,251,311
Stockholders' equity    
Common stock, $0.001 par value 100,000,000 shares authorized; 2,180,485 and 2,083,860 shares issued, 2,013,180 and 1,916,555 shares outstanding as of December 31, 2023 and 2022, respectively 2,180 2,084
Additional paid-in capital 36,456,957 35,883,831
Accumulated deficit (33,225,236) (31,190,801)
Treasury stock, 167,305 shares at cost, as of December 31, 2023 and 2022 (965,211) (965,211)
Total stockholders' equity 2,268,690 3,729,903
Total liabilities and stockholders' equity $ 4,519,835 $ 7,981,214