Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 5,305,636 $ 18,118,043
Accounts receivable, net of allowance of $164,966 and $154,729, respectively 5,333,147 4,719,717
Income tax receivable 96,211 96,212
Prepaid expenses 951,876 1,237,948
Total current assets 11,686,870 24,171,920
Property and equipment, net 146,567 69,916
Operating lease right-of-use assets 469,234 533,163
Assets deployed at client locations, net 3,118,850 3,334,266
Goodwill 1,091,000 1,091,000
Other intangible assets, net 11,086,093 11,443,753
Other assets 218,180 366,713
Total assets 27,816,794 41,010,731
Current liabilities:    
Accounts payable 2,492,667 2,646,153
Accrued expenses 2,368,650 2,828,290
Current portion of operating lease liabilities 287,317 286,019
Current portion of long-term debt 2,402,698 842,282
Total current liabilities 7,551,332 6,602,744
Long-term operating lease liabilities 225,918 297,714
Long-term debt and liabilities, net 41,607,128 54,120,183
Deferred tax liabilities, net 62,986 44,429
Total liabilities 49,447,364 61,065,070
Commitments and Contingencies (See Note 6)
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; 25,253,515 and 25,115,299 shares issued and outstanding, respectively 25,253 25,115
Additional paid-in capital 20,241,486 19,948,363
Accumulated deficit (41,772,518) (39,751,236)
Accumulated other comprehensive loss (124,791) (276,581)
Total stockholders’ deficit (21,630,570) (20,054,339)
Total liabilities and stockholders’ deficit $ 27,816,794 $ 41,010,731