Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.20.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current Assets:    
Cash and cash equivalents $ 2,685,451 $ 633,615
Accounts receivable, net 982,362 720,750
Incremental direct costs 27,015 33,258
Prepaid expense and other current assets 268,229 240,763
Current assets from discontinued operations 2,202 75,996
Total current assets 3,965,259 1,704,382
Property and equipment, net 8,225 21,188
Capitalized technology, net 37,867 95,884
Goodwill 339,451 339,451
Intangible assets, net 395,230 452,385
Right-of-use assets 503,478 93,251
Merchant reserve 760,849 760,849
Security deposits 81,374 15,033
Long-term assets from discontinued operations 2,970,685 3,109,200
Total assets 9,062,418 6,591,623
Current Liabilities:    
Accounts payable 1,044,873 796,137
Accrued expenses 1,651,069 654,169
Deferred revenue 1,478,914 1,699,001
Short-term loan 162,770
Lease liability, current portion 31,556 105,083
Current liabilities from discontinued operations 347,619 564,044
Total current liabilities 4,716,801 3,818,434
Long-term loan 488,308
Lease liability, non-current portion 471,922
Deferred tax liability 189,221 221,254
Total liabilities 5,866,252 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 September 30, 2020 and December 31, 2019, and 12,819,843 and 8,927,563 shares outstanding as of September 30, 2020 and December 31, 2019 128,198 89,286
Additional paid in capital 95,873,689 91,126,784
Accumulated other comprehensive income 175,311 44,242
Accumulated deficit (92,943,915) (88,671,260)
Treasury stock, at cost; 1,048 shares at September 30, 2020 and December 31, 2019 (37,117) (37,117)
Total stockholders' equity 3,196,166 2,551,935
Total liabilities and stockholders' equity $ 9,062,418 $ 6,591,623