Balance Sheet

v3.20.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Current assets:      
Cash and cash equivalents $ 398,737 $ 1,625,671 $ 250,464
Accounts receivable, net 1,094,713 1,101,185  
Contract assets 12,660 106,015  
Prepaid expenses and other current assets 145,378 73,938  
Total current assets 1,651,488 2,906,809  
Property, plant and equipment, net 10,823 11,747  
Goodwill 1,223,520 1,223,520  
Long-term note receivable 404,863  
Intangible assets, net 2,262,525 2,298,805  
Deferred contract costs, net 183,533 193,730  
Total Assets 5,736,752 6,634,611  
Current liabilities:      
Accounts payable and accrued expenses 1,748,182 2,105,505  
Contract liabilities 137,206 168,957  
Total current liabilities 1,885,388 2,274,462  
Long-term note payable 200,000  
Total liabilities 2,085,388 2,274,462  
Commitments and contingencies  
Stockholders’ equity:      
Preferred stock, $1.00 par value, 5,405,010 shares authorized; none issued or outstanding  
Common stock, $0.01 par value, 25,000,000 shares authorized; 1,170,524 issued and outstanding as of March 31, 2020 and 1,157,890 issued and outstanding as of December 31, 2019. 11,705 11,579  
Additional paid-in capital 21,970,903 21,932,387  
Accumulated deficit (18,331,244) (17,583,817)  
Total stockholders’ equity 3,651,364 4,360,149 $ 6,806,140
Total Liabilities and Stockholders’ Equity $ 5,736,752 $ 6,634,611  

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