v3.22.2.2
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2022
Accounting Policies [Abstract]  
Schedule of Changes in Deferred Revenue

Changes in deferred revenue were as follows:

 

Nine Months Ended September 30, 2022

 

 

 

Balance at January 1, 2021

 

$

7,070,859

 

   Deferral of revenue

 

 

13,248,342

 

   Recognition of revenue

 

 

(14,180,480

)

   Change in reserves

 

 

(2,635

)

Balance at December 31, 2021

 

$

6,136,086

 

   Deferral of revenue

 

 

6,147,943

 

   Recognition of revenue

 

 

(7,502,583

)

   Change in reserves

 

 

4,740

 

Balance at September 30, 2022

 

$

4,786,186

 
Summary of ROU Assets and Liabilities

We have various operating leases for office facilities that are expected to continue through 2023. Below is a summary of our ROU assets and liabilities as of September 30, 2022.

 

Right of use assets

 

$

49,626

 

Lease liability obligations, current

 

 

49,626

 

Lease liability obligations, less current portion

 

 

—

 

Total lease liability obligations

 

$

49,626

 

Weighted-average remaining lease term

 

0.75

 

Weighted-average discount rate

 

 

3.35

%
Components of Lease Expense

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Components of lease expense:

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease cost

 

$

38,420

 

 

$

88,593

 

 

$

107,800

 

 

$

712,911

 

Sublease income

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(100,419

)

Net lease cost

 

$

38,420

 

 

$

88,593

 

 

$

107,800

 

 

$

612,492

 
Summary of Future Minimum Lease Payments of ROU Assets over Remaining Lease

Approximate future minimum lease payments for our ROU assets over the remaining lease periods as of September 30, 2022, are as follows:

 

 2022 (remaining)

 

$

19,249

 

 2023

 

 

38,498

 

Total minimum lease payments

 

$

57,747

 

Less interest

 

 

8,121

 

Present value of lease liabilities

 

$

49,626