v3.23.2
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash $ 8,559,181 $ 12,008,003
Accounts receivable, net 15,475,146 15,380,292
Contract receivables 6,948,417 3,004,282
Prepaid expenses and other assets 3,540,554 4,164,960
Total current assets 34,523,298 34,557,537
Non-current assets:    
Property and equipment, net 1,332,908 1,307,146
Operating lease right of use assets, net 2,396,668 2,618,825
Investments 2,584,964 2,559,307
Goodwill 15,572,050 15,572,050
Intangible assets, net 4,876,503 5,450,687
Total non-current assets 26,763,093 27,508,015
Total assets 61,286,391 62,065,552
Current liabilities:    
Accounts payable 18,552,579 9,960,364
Accrued expenses 5,183,451 3,196,961
Contract liabilities 3,344,832 1,294,452
Customer deposits 1,940,394 2,571,161
Contingent consideration 238,621 2,799,287
Promissory note 1,941,188 3,832,682
Operating lease liabilities 617,815 600,816
Total current liabilities 31,818,880 24,255,723
Non-current liabilities:    
Operating lease liabilities 1,822,754 2,044,782
Deferred tax liability 914,185 1,033,283
Total non-current liabilities 2,736,939 3,078,065
Commitments and contingencies (note 10)
Stockholders’ equity    
Preferred stock, $0.10 par value; 3,000,000 shares and 10,000,000 shares authorized as of June 30, 2023, and December 31, 2022, respectively; 0 shares issued and outstanding 0 0
Common stock, $0.001 par value; 30,000,000 shares and 100,000,000 shares authorized as of June 30, 2023, and December 31, 2022, respectively; 13,056,409 shares issued and 11,606,576 shares outstanding as of June 30, 2023; 12,220,593 shares issued and 10,770,760 shares outstanding as of December 31, 2022 13,056 12,221
Additional paid-in capital 87,468,937 84,882,982
Treasury shares, cost basis: 1,449,833 shares as of June 30, 2023, and as of December 31, 2022 (12,045,542) (12,045,542)
Accumulated deficit (48,705,879) (38,117,897)
Total stockholders’ equity 26,730,572 34,731,764
Total liabilities and stockholders’ equity $ 61,286,391 $ 62,065,552

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