Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Current Assets:    
Cash and cash equivalents $ 2,507,585 $ 2,117,569
Accounts receivable, net 1,078,826 1,005,482
Incremental direct costs 39,102 36,212
Prepaid expense and other current assets 383,021 355,260
Current assets from discontinued operations 4,600 6,898
Total current assets 4,013,134 3,521,421
Property and equipment, net 12,532 10,382
Capitalized technology, net 30,540 25,867
Goodwill 339,451 339,451
Intangible assets, net 338,074 376,178
Right-of-use assets 457,492 487,677
Merchant reserve 380,849 760,849
Security deposits 126,340 66,340
Long-term assets from discontinued operations 205,813 3,085,178
Total assets 5,904,225 8,673,343
Current Liabilities:    
Accounts payable 376,142 728,379
Accrued expenses 1,672,077 1,626,164
Deferred revenue 2,223,384 1,901,129
Lease liability, current portion 77,100 46,526
Current liabilities from discontinued operations 402,203 375,276
Total current liabilities 4,750,906 4,677,474
Lease liability, non-current portion 448,932 463,998
Deferred tax liability 169,416 186,039
Total liabilities 5,369,254 5,327,511
Commitments and contingencies
Stockholders’ Equity    
Common stock, $0.01 par value; 45,000,000 shares authorized, 13,598,897 shares and 12,820,891 shares issued as of June 30, 2021 and December 31, 2020, and 13,597,849 and 12,819,843 shares outstanding as of June 30, 2021 and December 31, 2020. 135,989 128,198
Additional paid in capital 94,861,394 95,985,080
Accumulated other comprehensive income 3,853 292,506
Accumulated deficit (94,429,148) (93,022,835)
Treasury stock, at cost; 1,048 shares at June 30, 2021 and December 31, 2020 (37,117) (37,117)
Total stockholders’ equity 534,971 3,345,832
Total liabilities and stockholders’ equity $ 5,904,225 $ 8,673,343