v3.23.3
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash $ 4,770,430 $ 12,008,003
Accounts receivable, net 18,341,489 15,380,292
Contract receivables 8,378,657 3,004,282
Prepaid expenses and other assets 3,268,279 4,164,960
Total current assets 34,758,855 34,557,537
Non-current assets:    
Property and equipment, net 1,456,009 1,307,146
Operating lease right of use assets, net 2,217,738 2,618,825
Investments 0 2,559,307
Goodwill 15,572,050 15,572,050
Intangible assets, net 4,634,672 5,450,687
Total non-current assets 23,880,469 27,508,015
Total assets 58,639,324 62,065,552
Current liabilities:    
Accounts payable 22,194,304 9,960,364
Accrued expenses 4,074,098 3,196,961
Contract liabilities 1,981,728 1,294,452
Customer deposits 969,888 2,571,161
Contingent consideration 161,947 2,799,287
Promissory notes 1,964,775 3,832,682
Operating lease liabilities 598,447 600,816
Total current liabilities 31,945,187 24,255,723
Non-current liabilities:    
Operating lease liabilities 1,666,138 2,044,782
Deferred tax liability 865,802 1,033,283
Total non-current liabilities 2,531,940 3,078,065
Total liabilities 34,477,127 27,333,788
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 September 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 September 30, 2023, and December 31, 2022, respectively; 13,120,413 shares issued and 11,670,580 shares outstanding as of September 30, 2023; 12,220,593 shares issued and 10,770,760 shares outstanding as of December 31, 2022 13,120 12,221
Additional paid-in capital 88,268,286 84,882,982
Treasury shares, cost basis: 1,449,833 shares at September 30, 2023 and at December 31, 2022 (12,045,542) (12,045,542)
Accumulated deficit (52,073,667) (38,117,897)
Total stockholders’ equity 24,162,197 34,731,764
Total liabilities and stockholders’ equity $ 58,639,324 $ 62,065,552

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