Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 19,346,842 $ 16,691,514
Accounts receivable, net of allowance of $134,291 and $200,192, respectively 3,773,724 4,173,990
Income tax receivable 82,755 80,718
Prepaid expenses 838,079 1,209,813
Total current assets 24,041,400 22,156,035
Property and equipment, net 69,251 98,053
Operating lease right-of-use assets 658,685 785,543
Assets deployed at client locations, net 3,224,651 3,268,294
Goodwill 1,091,000 1,091,000
Other intangible assets, net 12,116,306 12,755,735
Other assets 269,457 321,140
Total assets 41,470,750 40,475,800
Current liabilities:    
Accounts payable 1,409,762 1,002,061
Accrued expenses 2,485,498 2,584,231
Revenue contract liability 507 167,014
Current portion of operating lease liabilities 277,297 268,541
Current portion of long-term debt 664,603 854,120
Total current liabilities 4,837,667 4,875,967
Long-term operating lease liabilities 442,439 585,879
Long-term debt and liabilities, net 53,658,384 53,196,585
Deferred tax liabilities, net 46,408 60,790
Total liabilities 58,984,898 58,719,221
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; 24,957,493 and 24,845,439 shares issued and outstanding, respectively 24,958 24,846
Additional paid-in capital 19,332,844 18,972,901
Accumulated deficit (36,672,521) (37,124,126)
Accumulated other comprehensive loss (199,429) (117,042)
Total stockholders’ deficit (17,514,148) (18,243,421)
Total liabilities and stockholders’ deficit $ 41,470,750 $ 40,475,800