Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.21.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current Assets:    
Cash and cash equivalents $ 2,117,569 $ 633,615
Accounts receivable, net 1,005,482 720,750
Incremental direct costs 36,212 33,258
Prepaid expense and other current assets 355,260 240,763
Current assets from discontinued operations 6,898 75,996
Total current assets 3,521,421 1,704,382
Property and equipment, net 10,382 21,188
Capitalized technology, net 25,867 95,884
Goodwill 339,451 339,451
Intangible assets, net 376,178 452,385
Right-of-use assets 487,677 93,251
Merchant reserve 760,849 760,849
Security deposits 66,340 15,033
Long-term assets from discontinued operations 3,085,178 3,109,200
Total assets 8,673,343 6,591,623
Current Liabilities:    
Accounts payable 728,379 796,137
Accrued expenses 1,626,164 654,169
Deferred revenue 1,901,129 1,699,001
Lease liability, current portion 46,526 105,083
Current liabilities from discontinued operations 375,276 564,044
Total current liabilities 4,677,474 3,818,434
Lease liability, non-current portion 463,998
Deferred tax liability 186,039 221,254
Total liabilities 5,327,511 4,039,688
Commitments and contingencies
Stockholders' Equity    
Common stock, $0.01 par value; 45,000,000 shares authorized, 12,820,891 shares and 8,928,611 shares issued as of December 31, 2020 and 2019, and 12,819,843 and 8,927,563 shares outstanding as of December 31, 2020 and 2019 128,198 89,286
Additional paid in capital 95,985,080 91,126,784
Accumulated other comprehensive income 292,506 44,242
Accumulated deficit (93,022,835) (88,671,260)
Treasury stock, at cost; 1,048 shares at December 31, 2020 and 2019 (37,117) (37,117)
Total stockholders' equity 3,345,832 2,551,935
Total liabilities and stockholders' equity $ 8,673,343 $ 6,591,623