v3.22.2.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current Assets:    
Cash $ 2,626,061 $ 6,308,866
Accounts receivable, net 4,846,553 4,967,714
Insurance recovery receivable 3,500,693 2,850,000
Contract assets 27,491,183 24,459,339
Inventory 3,587,781 4,028,925
Refundable income taxes 42,335 40,000
Prepaid expenses and other current assets 508,968 625,075
Total current assets 42,603,574 43,279,919
Operating lease right-of-use assets 6,937,956 7,796,768
Property and equipment, net 1,390,929 1,646,863
Intangibles, net 62,500 125,000
Goodwill 1,784,254 1,784,254
Other assets 325,854 372,741
Total assets 53,105,067 55,005,545
Current Liabilities:    
Accounts payable 11,293,990 10,429,018
Accrued expenses 5,110,731 6,102,587
Litigation settlement obligation 3,600,000 3,003,259
Contract liabilities 5,027,832 5,122,766
Loss reserve 918,548 1,495,714
Current portion of long-term debt 3,332,391 3,365,181
Operating lease liabilities 1,641,243 1,580,453
Income tax payable 5,165
Total current liabilities 30,924,735 31,104,143
Line of credit 21,000,000 21,250,000
Long-term operating lease liabilities 5,604,664 6,445,728
Long-term debt, net of current portion 262,656 1,540,747
Total liabilities 57,792,055 60,340,618
Shareholders’ Deficit:    
Common stock - $.001 par value; authorized 50,000,000 shares, 12,449,327 and 12,335,683 shares, respectively, issued and outstanding 12,449 12,336
Additional paid-in capital 72,997,009 72,833,742
Accumulated deficit (77,696,446) (78,181,151)
Total Shareholders’ Deficit (4,686,988) (5,335,073)
Total Liabilities and Shareholders’ Deficit $ 53,105,067 $ 55,005,545