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, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 18,727,722 $ 18,237,513
Accounts receivable, net of allowance of $155,614 and $183,242, respectively 3,901,834 3,449,753
Income tax receivable 517,395 515,259
Prepaid expenses 1,003,200 1,402,824
Other current assets   588,838
Total current assets 24,150,151 24,194,187
Property and equipment, net 127,481 143,438
Operating lease right-of-use assets 883,958 1,002,749
Assets deployed at client locations, net 1,538,799 1,399,708
Goodwill 1,091,000 1,091,000
Other intangible assets, net 13,484,984 13,906,111
Other assets 283,649 273,323
Total assets 41,560,022 42,010,516
Current liabilities:    
Accounts payable 630,715 1,129,869
Accrued expenses 3,276,207 3,697,504
Revenue contract liability 126,135 16,667
Current portion of operating lease liabilities 252,845 248,317
Current portion of long-term debt 685,978 940,084
Total current liabilities 4,971,880 6,032,441
Long-term operating lease liabilities 704,250 830,289
Long-term debt and liabilities, net 52,765,523 52,960,772
Deferred tax liabilities, net 54,878 72,401
Total liabilities 58,496,531 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; 24,466,881 and 24,411,098 shares issued and outstanding, respectively 24,467 24,411
Additional paid-in capital 18,065,398 17,575,396
Accumulated deficit (34,849,077) (35,316,540)
Accumulated other comprehensive loss (177,297) (168,654)
Total stockholders’ deficit (16,936,509) (17,885,387)
Total liabilities and stockholders’ deficit $ 41,560,022 $ 42,010,516