Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 15,938,072 $ 18,237,513
Accounts receivable, net of allowance of $262,961 and $183,242, respectively 3,667,887 3,449,753
Income tax receivable 84,810 515,259
Prepaid expenses 2,357,596 1,402,824
Other current assets   588,838
Total current assets 22,048,365 24,194,187
Property and equipment, net 112,699 143,438
Operating lease right-of-use assets 823,542 1,002,749
Assets deployed at client locations, net 1,882,896 1,399,708
Goodwill 1,091,000 1,091,000
Other intangible assets, net 13,104,821 13,906,111
Other assets 275,836 273,323
Total assets 39,339,159 42,010,516
Current liabilities:    
Accounts payable 632,995 1,129,869
Accrued expenses 1,681,985 3,697,504
Revenue contract liability 194,308 16,667
Current portion of operating lease liabilities 255,146 248,317
Current portion of long-term debt 946,513 940,084
Total current liabilities 3,710,947 6,032,441
Long-term operating lease liabilities 640,173 830,289
Long-term debt and liabilities, net 52,989,282 52,960,772
Deferred tax liabilities, net 75,460 72,401
Total liabilities 57,415,862 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; 24,522,197 and 24,411,098 shares issued and outstanding, respectively 24,522 24,411
Additional paid-in capital 18,358,814 17,575,396
Accumulated deficit (36,304,235) (35,316,540)
Accumulated other comprehensive loss (155,804) (168,654)
Total stockholders’ deficit (18,076,703) (17,885,387)
Total liabilities and stockholders’ deficit $ 39,339,159 $ 42,010,516