Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 5,039,249 $ 18,118,043
Accounts receivable, net of allowance of $198,973 and $154,729, respectively 4,368,299 4,719,717
Income tax receivable 152,447 96,212
Prepaid expenses 892,132 1,237,948
Total current assets 10,452,127 24,171,920
Property and equipment, net 127,009 69,916
Operating lease right-of-use assets 411,470 533,163
Assets deployed at client locations, net 3,493,481 3,334,266
Goodwill 1,091,000 1,091,000
Other intangible assets, net 10,823,520 11,443,753
Other assets 205,191 366,713
Total assets 26,603,798 41,010,731
Current liabilities:    
Accounts payable 2,170,875 2,646,153
Accrued expenses 2,623,872 2,828,290
Current portion of operating lease liabilities 295,559 286,019
Current portion of long-term debt 2,311,593 842,282
Revenue contract liability 125,491  
Total current liabilities 7,527,390 6,602,744
Long-term operating lease liabilities 153,344 297,714
Long-term debt and liabilities, net 39,060,609 54,120,183
Deferred tax liabilities, net 113,116 44,429
Total liabilities 46,854,459 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; 25,294,016 and 25,115,299 shares issued and outstanding, respectively 25,294 25,115
Additional paid-in capital 20,418,787 19,948,363
Accumulated deficit (40,822,161) (39,751,236)
Accumulated other comprehensive income (loss) 127,419 (276,581)
Total stockholders’ deficit (20,250,661) (20,054,339)
Total liabilities and stockholders’ deficit $ 26,603,798 $ 41,010,731