Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current Assets:    
Cash and cash equivalents $ 2,206,677 $ 1,236,771
Accounts receivable, net 849,924 1,318,217
Other receivables 50,000 350,000
Prepaid expense and other current assets 803,241 347,807
Current assets from discontinued operations 4,600 4,600
Total current assets 3,914,442 3,257,395
Property and equipment, net 38,698 35,341
Capitalized technology, net 101,871 64,499
Goodwill 1,417,753 1,274,785
Intangible assets, net 515,534 225,221
Right-of-use assets 332,493 365,324
Security deposits 66,340 66,340
Other assets 1,864,310 1,350,000
Long-term assets from discontinued operations 197,073 197,228
Total assets 8,448,514 6,836,133
Current Liabilities:    
Accounts payable 818,419 338,600
Accrued expenses 1,126,252 1,071,842
Deferred revenue 2,109,677 1,925,788
Lease liability, current portion 81,426 103,555
Current liabilities from discontinued operations 497,692 503,090
Total current liabilities 4,633,466 3,942,875
Lease liability, non-current portion 324,684 341,165
Other long-term liabilities 100,000
Deferred tax liability 129,457 143,069
Total liabilities 5,087,607 4,527,109
Commitments and contingencies
Stockholders’ Equity    
Common stock, $0.01 par value; 45,000,000 shares authorized, 10,984,164 and 10,898,376 shares issued as of June 30, 2023 and December 31, 2022, and 10,983,640 and 10,367,431 shares outstanding as of June 30, 2023 and December 31, 2022. 109,837 103,675
Additional paid in capital 104,484,673 101,728,600
Accumulated other comprehensive (loss) income (17,854) (10,986)
Accumulated deficit (100,864,047) (98,382,540)
Treasury stock, at cost; 524 and 530,945 shares at June 30, 2023 and December 31, 2022 (37,117) (892,482)
Total Professional Diversity Network, Inc. stockholders’ equity 3,675,492 2,546,267
Noncontrolling interest (314,585) (237,243)
Total stockholders’ equity 3,360,907 2,309,024
Total liabilities and stockholders’ equity $ 8,448,514 $ 6,836,133