Balance Sheet

v3.19.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents (Amounts related to variable interest entity of $341,800 and $683,043 as of March 31, 2019 and December 31, 2018, respectively) $ 793,863 $ 1,441,607
Accounts receivable, net 446,368 816,698
Incremental direct costs 48,154 20,797
Prepaid expenses and other current assets 482,879 350,906
Current assets from discontinued operations 26,539 126,270
Total current assets 1,797,803 2,756,278
Property and equipment, net 67,273 83,608
Capitalized technology, net 169,626 194,833
Goodwill 339,451 339,451
Intangible assets, net 837,774 1,020,942
Right-of-use assets 353,486
Merchant reserve 760,849 760,849
Security deposits 90,574 82,139
Total assets 4,416,836 5,238,100
Current Liabilities:    
Accounts payable 1,676,620 1,843,688
Accrued expenses 1,063,914 989,626
Deferred revenue 2,254,170 2,460,436
Note Payable - related party 207,118 500,000
Revolving Credit Facility- related party 292,882
Lease liability, current portion 300,456
Current liabilities from discontinued operations 303,794 346,528
Total current liabilities 6,098,954 6,140,278
Deferred tax liability 122,824 194,786
Deferred rent 13,742
Other liabilities 84 82
Lease liability, non-current portion 60,910
Long-term liabilities from discontinued operations
Total liabilities 6,282,772 6,348,888
Commitments and contingencies
Stockholders' Equity    
Common stock, $0.01 par value; 45,000,000 shares authorized; 5,060,176 shares and 4,856,213 shares issued as of March 31, 2019 and December 31, 2018, respectively; and 5,059,128 shares and 4,855,165 shares outstanding as of March 31, 2019 and December 31, 2018, respectively 50,602 48,562
Additional paid in capital 84,108,048 83,728,903
Accumulated other comprehensive loss (1,305) (24,340)
Accumulated deficit (85,986,164) (84,826,796)
Treasury stock, at cost; 1,048 shares at March 31, 2019 and December 31, 2018 (37,117) (37,117)
Total stockholders' equity (1,865,936) (1,110,788)
Total liabilities and stockholders' equity $ 4,416,836 $ 5,238,100

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