Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.22.2.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2022
Jun. 30, 2022
Dec. 31, 2021
Current assets:      
Cash and cash equivalents $ 19,275,180   $ 16,058,714
Accounts receivable, net of allowance of $329,733 and $348,695, respectively 3,558,352   4,377,165
Inventory 924,021   770,248
Income tax receivable 766,225   1,536,682
Prepaid expenses 893,024   1,125,777
Other current assets 8,640   21,536
Total current assets 25,425,442   23,890,122
Property and equipment, net 67,452   98,594
Operating lease right-of-use assets 1,061,140   1,167,903
Assets deployed at client locations, net 481,362   360,735
Goodwill 1,091,000   1,091,000
Other intangible assets, net 14,110,589   13,677,264
Other assets 245,217   167,087
Total assets 42,482,202   40,452,705
Current liabilities:      
Accounts payable 3,399,386   374,323
Accrued expenses 2,982,457   2,666,073
Revenue contract liability 44,095   37,500
Current portion of operating lease liabilities 243,038   222,806
Current portion of long-term debt 600,000   1,100,369
Total current liabilities 7,268,976   4,401,071
Long-term operating lease liabilities 895,318   1,019,029
Long-term debt and liabilities, net 52,794,860   52,143,810
Deferred tax liabilities, net 29,000   175,218
Total liabilities 60,988,154   57,739,128
Commitments and Contingencies (See Note 8)  
Stockholders’ deficit      
Preferred stock, 10,000,000 shares authorized, $0.001 par value; 0 shares issued and outstanding  
Common stock, 65,000,000 shares authorized; $0.001 par value; 24,327,426 and 23,523,969 shares issued and outstanding, respectively 24,327   23,524
Additional paid-in capital 17,221,963   16,380,597
Accumulated deficit (35,371,644)   (33,543,351)
Accumulated other comprehensive loss (380,598)   (147,193)
Total stockholders’ deficit (18,505,952) $ (18,296,514) (17,286,423)
Total liabilities and stockholders’ deficit $ 42,482,202   $ 40,452,705