Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.20.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current Assets:    
Cash and cash equivalents $ 1,555,203 $ 633,615
Accounts receivable, net 287,354 720,750
Incremental direct costs 26,119 33,258
Prepaid expense and other current assets 307,182 240,763
Current assets from discontinued operations 31,182 75,996
Total current assets 2,207,040 1,704,382
Property and equipment, net 13,905 21,188
Capitalized technology, net 74,752 95,884
Goodwill 339,451 339,451
Intangible assets, net 433,333 452,385
Right-of-use assets 54,149 93,251
Merchant reserve 760,849 760,849
Security deposits 15,033 15,033
Long-term assets from discontinued operations 2,882,887 3,109,200
Total assets 6,781,399 6,591,623
Current Liabilities:    
Accounts payable 983,713 796,137
Accrued expenses 1,031,165 654,169
Deferred revenue 1,549,165 1,699,001
Lease liability, current portion 60,910 105,083
Current liabilities from discontinued operations 322,709 564,044
Total current liabilities 3,947,662 3,818,434
Deferred tax liability 215,345 221,254
Total liabilities 4,163,007 4,039,688
Commitments and contingencies
Stockholders' Equity    
Common stock, $0.01 par value; 45,000,000 shares authorized, 10,922,021 shares and 8,928,611 shares issued as of March 31 2020 and December 31, 2019, and 10,920,973 and 8,927,563 shares outstanding as of March 31, 2020 and December 31, 2019 109,209 89,286
Additional paid in capital 92,625,541 91,126,784
Accumulated other comprehensive income 84,115 44,242
Accumulated deficit (90,163,356) (88,671,260)
Treasury stock, at cost; 1,048 shares at March 31, 2020 and December 31, 2019 (37,117) (37,117)
Total stockholders' equity 2,618,392 2,551,935
Total liabilities and stockholders' equity $ 6,781,399 $ 6,591,623