Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current Assets:    
Cash and cash equivalents $ 2,342,343 $ 2,117,569
Accounts receivable, net 1,066,101 1,005,482
Incremental direct costs 42,848 36,212
Prepaid expense and other current assets 353,273 355,260
Current assets from discontinued operations 6,882 6,898
Total current assets 3,811,447 3,521,421
Property and equipment, net 12,240 10,382
Capitalized technology, net 19,582 25,867
Goodwill 339,451 339,451
Intangible assets, net 357,126 376,178
Right-of-use assets 472,526 487,677
Merchant reserve 760,849 760,849
Security deposits 66,340 66,340
Long-term assets from discontinued operations 198,186 3,085,178
Total assets 6,037,747 8,673,343
Current Liabilities:    
Accounts payable 431,778 728,379
Accrued expenses 1,500,009 1,626,164
Deferred revenue 2,114,991 1,901,129
Lease liability, current portion 61,887 46,526
Current liabilities from discontinued operations 387,186 375,276
Total current liabilities 4,495,851 4,677,474
Lease liability, non-current portion 456,333 463,998
Deferred tax liability 121,335 186,039
Total liabilities 5,073,519 5,327,511
Commitments and contingencies
Stockholders' Equity    
Common stock, $0.01 par value; 45,000,000 shares authorized, 13,466,070 shares and 12,820,891 shares issued as of March 31, 2021 and December 31, 2020, and 13,465,022 and 12,819,843 shares outstanding as of March 31, 2021 and December 31, 2020. 134,650 128,198
Additional paid in capital 94,659,832 95,985,080
Accumulated other comprehensive income 387 292,506
Accumulated deficit (93,793,524) (93,022,835)
Treasury stock, at cost; 1,048 shares at March 31, 2021 and December 31, 2020 (37,117) (37,117)
Total stockholders' equity 964,228 3,345,832
Total liabilities and stockholders' equity $ 6,037,747 $ 8,673,343