Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 16,112,907 $ 1,625,671
Accounts receivable, net 1,584,252 1,101,185
Contract assets 11,830 106,015
Prepaid expenses and other current assets 277,034 73,938
Total current assets 17,986,023 2,906,809
Property, plant and equipment, net 9,899 11,747
Goodwill 1,223,520 1,223,520
Long-term note receivable 661,096
Intangible assets, net 2,226,244 2,298,805
Deferred contract costs, net 173,337 193,730
Total Assets 22,280,119 6,634,611
Current liabilities:    
Accounts payable and accrued expenses 1,863,384 2,105,505
Contract liabilities 148,851 168,957
Total current liabilities 2,012,235 2,274,462
Stockholders’ equity:    
Preferred stock, $1.00 par value, 5,405,010 shares authorized; none issued or outstanding
Common stock, $0.01 par value, — shares authorized; — issued and outstanding as of June 30, 2020 and — issued and outstanding as of December 31, 2019 85,962 11,579
Additional paid-in capital 39,351,139 21,932,387
Accumulated deficit (19,169,217) (17,583,817)
Total stockholders’ equity 20,267,884 4,360,149
Total Liabilities and Stockholders’ Equity $ 22,280,119 $ 6,634,611