Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash $ 937,000 $ 1,815,000
Accounts receivable, net 1,382,000 919,000
Inventory, net 28,000 34,000
Prepaid expenses and other current assets 847,000 900,000
Total current assets 3,194,000 3,668,000
Capitalized software development costs 4,348,000
Property and equipment, net 702,000 862,000
Operating lease right-of-use assets 2,177,000 2,730,000
Intangible assets, net 3,953,000 5,153,000
Goodwill 19,764,000 20,060,000
Other assets 293,000 69,000
Total assets 34,431,000 32,542,000
Current liabilities    
Accounts payable 3,751,000 2,566,000
Accrued expenses 3,500,000 2,645,000
Accrued officers’ salary 1,209,000 822,000
Advances on future receipts, net 4,181,000 110,000
Notes payable - related party 40,000 1,077,000
Deferred incentive compensation to officers, current 521,000 521,000
Operating lease liabilities, current 592,000 596,000
Contract liabilities 986,000 272,000
Derivative liability 3,155,000 8,266,000
Total current liabilities 17,935,000 16,875,000
Long-term liabilities    
Notes payable, non-current 150,000 1,458,000
Notes payable - related party, non-current 725,000
Deferred incentive compensation to officers, non-current 521,000
Operating lease liabilities, non-current 2,299,000 2,943,000
Total liabilities 21,109,000 21,797,000
Commitments and contingencies (Note 21)  
Stockholders’ equity    
Preferred stock, $0.0001 par value, 15,000,000 shares authorized: Series A Convertible Preferred Stock, 6,000 shares authorized; 0 and 2,006 issued and outstanding as of December 31, 2021 and 2020
Class A units, 100 shares issued and authorized as of December 31, 2021 and 2020
Class B units, 2,642,159 shares authorized, 0 and 2,642,159 issued and outstanding as of December 31, 2021 and 2020 3,065,000
Common stock, $0.0001 par value, 200,000,000 shares authorized, 72,942,948 and 47,795,009 shares issued and outstanding as of December 31, 2021 and 2020 7,000 5,000
Additional paid-in capital 129,342,000 89,216,000
Accumulated deficit (116,027,000) (81,541,000)
Total stockholders’ equity 13,322,000 10,745,000
Total liabilities and stockholders’ equity $ 34,431,000 $ 32,542,000