Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 2,453,165 $ 2,821,570
Accounts and other receivables, net 1,123,609 811,674
Inventory 9,487 18,484
Prepaid expenses and other current assets 344,900 321,017
Total current assets 3,931,161 3,972,745
Non-current assets:    
Property and equipment, net 461,209 458,633
Operating lease right-of-use asset, net 347,860 370,312
Finance lease right-to-use, net 1,069,601 1,165,844
Goodwill 1,404,486 1,404,486
Intangible assets, net 818,889 833,472
Other assets 16,060 16,060
Total assets 8,049,266 8,221,552
Current liabilities:    
Accounts payable 383,993 604,789
Accrued expenses 883,319 1,149,811
Unearned revenue 30,174 33,058
Operating lease liability, current portion 96,631 94,708
Finance lease liability, current portion 372,787 365,463
Notes payable, current portion 4,686
Total current liabilities 1,771,590 2,247,829
Non-current liabilities:    
Finance lease liability, net of current portion 739,478 835,467
Operating lease liability, net of current portion 258,110 283,001
Notes payable, net of current portion 23,037
Total liabilities 2,792,215 3,366,297
Commitments and contingencies (See Note 11)
Stockholders’ equity:    
Preferred stock, par value $0.001 per share; 20,000,000 shares authorized; no shares issued or outstanding at March 31, 2024, and December 31, 2023
Common stock, par value $0.007 per share; 25,000,000 shares authorized; 11,216,491 and 9,394,610 issued and outstanding at March 31, 2024, and at December 31, 2023, respectively. 78,515 65,762
Additional paid-in capital 51,744,830 49,393,972
Accumulated deficit (46,566,294) (44,604,479)
Total stockholders’ equity 5,257,051 4,855,255
Total liabilities and stockholders’ equity $ 8,049,266 $ 8,221,552