v3.23.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current Assets:    
Cash $ 434,026 $ 3,470,339
Accounts receivable, net 1,083,169 670,822
Prepaid expenses 582,125 15,064
Other current assets 1,288,951 729,351
Total Current Assets 3,388,271 4,885,576
Other Assets:    
Property and equipment, net 7,325,212 8,967,096
Intangible assets, net 20,310,255 23,964,180
Goodwill 6,858,216 6,858,216
Operating lease right-of-use assets 268,948 402,538
Other long-term assets 502,917 451,885
Total Other Assets 35,265,548 40,643,915
TOTAL ASSETS 38,653,819 45,529,491
Current Liabilities:    
Accounts payable 513,266 501,762
Accrued expenses 378,206 416,182
Preferred dividend payable (related parties) 294,384 824,674
Merchant portfolio purchase installment obligation 2,000,000 2,000,000
Operating lease liability – current portion 134,318 133,180
Note payable – current portion 298,053
Total Current Liabilities 3,618,227 3,875,798
Notes payable, net of current portion 259,376
Operating lease liability – net of current portion 138,439 273,166
Total Liabilities 4,016,042 4,148,964
Commitments and contingencies (Note 10)
Preferred stock, $0.0001 par value, 1,000,000 shares authorized
Series A Preferred stock, $0.0001 par value, 10,000 shares authorized, 1,021 and 4,633 shares issued and outstanding at December 31, 2022 and 2021, respectively 10 46
Common stock, $0.0001 par value, 50,000,000 shares authorized, 15,207,714 and 11,984,396 shares issued, 15,081,542 and 11,984,396 shares outstanding at December 31, 2022 and 2021, respectively 1,508 1,197
Treasury stock, at cost (126,272 shares) (109,987)
Additional paid-in capital 68,140,480 66,986,248
Accumulated deficit (33,394,233) (25,606,964)
Total Stockholders’ Equity 34,637,777 41,380,527
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 38,653,819 $ 45,529,491