Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 16,386,461 $ 18,237,513
Accounts receivable, net of allowance of $226,588 and $183,242, respectively 5,667,898 3,449,753
Income tax receivable 515,259 515,259
Prepaid expenses 1,125,816 1,402,824
Other current assets 574,979 588,838
Total current assets 24,270,413 24,194,187
Property and equipment, net 134,274 143,438
Operating lease right-of-use assets 943,691 1,002,749
Assets deployed at client locations, net 1,331,706 1,399,708
Goodwill 1,091,000 1,091,000
Other intangible assets, net 13,710,632 13,906,111
Other assets 359,348 273,323
Total assets 41,841,064 42,010,516
Current liabilities:    
Accounts payable 2,544,127 1,129,869
Accrued expenses 2,362,647 3,697,504
Revenue contract liability 346 16,667
Current portion of operating lease liabilities 250,569 248,317
Current portion of long-term debt 813,744 940,084
Total current liabilities 5,971,433 6,032,441
Long-term operating lease liabilities 767,619 830,289
Long-term debt and liabilities, net 52,558,038 52,960,772
Deferred tax liabilities, net 57,107 72,401
Total liabilities 59,354,197 59,895,903
Commitments and Contingencies (See Note 7)
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; 24,438,490 and 24,411,098 shares issued and outstanding, respectively 24,439 24,411
Additional paid-in capital 17,820,291 17,575,396
Accumulated deficit (35,205,846) (35,316,540)
Accumulated other comprehensive loss (152,017) (168,654)
Total stockholders’ deficit (17,513,133) (17,885,387)
Total liabilities and stockholders’ deficit $ 41,841,064 $ 42,010,516