v3.22.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash $ 27,052,203 $ 34,592,190
Accounts receivable, net 13,467,120 13,125,685
Inventories 354,320 514,756
Prepaid expenses and other current assets 10,081,436 11,248,266
Total current assets 50,955,079 59,480,897
Non-current assets:    
Property and equipment, net 207,638 207,496
Operating lease right of use assets, net 693,524 689,704
Investments 4,210,358 4,210,358
Goodwill 7,992,121 7,992,121
Intangible assets, net 1,412,965 1,575,466
Total non-current assets 14,516,606 14,675,145
Total assets 65,471,685 74,156,042
Current liabilities:    
Accounts payable 7,930,985 6,066,896
Accrued expenses 3,106,790 3,878,278
Customer deposits 7,234,914 13,345,451
Contingent consideration 1,563,000 1,563,000
Operating lease liabilities 219,836 152,459
Total current liabilities 20,055,525 25,006,084
Non-current liabilities:    
Operating lease liabilities 474,862 542,003
Deferred tax liability 332,565 440,625
Total non-current liabilities 807,427 982,628
Total liabilities 20,862,952 25,988,712
Preferred stock, $0.10 par value; 10,000,000 shares authorized; 0 shares issued and outstanding
Common stock, $0.001 par value; 100,000,000 shares authorized; 11,627,528 issued and 10,353,525 outstanding as of March 31, 2022, and 11,588,110 issued and 10,733,195 outstanding as of December 31, 2021 11,628 11,588
Additional paid in capital 79,589,977 78,679,220
Treasury shares, cost basis: 1,274,003 shares as of March 31, 2022 and 854,915 shares as of December 31, 2021 (11,456,667) (7,683,490)
Accumulated deficit (23,536,205) (22,839,988)
Total shareholders’ equity 44,608,733 48,167,330
Total liabilities and shareholders’ equity $ 65,471,685 $ 74,156,042

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