Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 4,931,302 $ 1,858,160
Accounts receivable 1,664,862 1,442,231
Prepaid expenses and other current assets 276,990 142,770
Total current assets 6,873,154 3,443,161
Intangible assets, net of accumulated amortization of $201,032 and $0 8,048,968 0
Goodwill 7,585,269 0
Contract assets - non-current 0 210,688
Right-of-use operating lease asset 672,896 51,405
Property and equipment, net of accumulated depreciation and amortization of $347,886 and $312,320 105,256 62,166
Other assets 77,100 6,281
Total assets 23,362,643 3,773,701
Current liabilities    
Accounts payable 650,499 103,646
Notes payable - current 0 93,009
Accrued payroll and related liabilities 524,055 375,168
Commissions payable 224,250 181,626
Other accrued liabilities 203,078 54,274
Contract liabilities 186,835 946,884
Operating lease liability- current 192,128 45,595
Interest payable 1,002 3,125
Total current liabilities 1,981,847 1,803,327
Note payable - non-current 0 356,991
Operating lease liability - non-current 507,120 0
Deferred income taxes 1,167,504 0
Other liabilities 2,265,000 0
Total liabilities 5,921,471 2,160,318
Stockholders' equity    
Common stock at $0.001 and $0.01 par value; 100,000,000 and 30,000,000 shares authorized, 18,882,313 and 12,904,376 shares issued, 17,239,697 and 11,261,760 shares outstanding, as of December 31, 2021 and 2020, respectively 18,882 129,043
Additional paid-in capital 31,789,464 14,720,065
Accumulated deficit (13,436,963) (12,305,514)
Treasury stock, 1,642,616 shares at cost (930,211) (930,211)
Total stockholders' equity 17,441,172 1,613,383
Total liabilities and stockholders' equity $ 23,362,643 $ 3,773,701