v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current    
Cash and cash equivalents $ 7,085,260 $ 8,203,842
Restricted cash 925,004 925,004
Accounts receivable:    
Trade, net of allowance of $1,365,338 and $1,327,808, respectively 6,066,237 5,113,157
Other receivables 6,538,095 5,451,697
Other current assets 553,808 373,399
Total current assets 21,168,404 20,067,099
Capitalized production costs, net 615,662 594,763
Employee receivable 1,054,168 1,007,418
Right-of-use asset 4,327,155 4,738,997
Goodwill 21,507,944 21,507,944
Intangible assets, net 9,614,784 10,189,026
Property, equipment and leasehold improvements, net 97,788 114,011
Other long-term assets 189,296 218,021
Total Assets 58,575,201 58,437,279
LIABILITIES    
Accounts payable 2,120,089 2,344,272
Term loan, current portion 1,708,051 1,686,018
Notes payable, current portion 3,750,000 3,750,000
Revolving line of credit 400,000 400,000
Accrued interest – related party 2,002,593 1,857,986
Accrued compensation – related party 2,625,000 2,625,000
Lease liability, current portion 1,531,098 1,919,672
Deferred revenue 818,302 341,153
Contingent consideration 486,000 486,000
Other current liabilities 13,013,339 11,104,036
Total current liabilities 28,454,472 26,514,137
Term loan, noncurrent portion 4,349,537 4,782,271
Notes payable 3,380,000 3,130,000
Convertible notes payable 5,875,000 5,100,000
Convertible note payable at fair value 300,000 320,000
Loan from related party 3,225,985 3,225,985
Lease liability 3,257,809 3,306,033
Deferred tax liability 416,069 394,547
Other noncurrent liabilities 18,915
Total Liabilities 49,258,872 46,791,888
STOCKHOLDERS’ EQUITY    
Preferred Stock, Series C, $0.001 par value, 50,000 shares authorized, 50,000 shares issued and outstanding at March 31, 2025 and December 31, 2024 1,000 1,000
Common stock, $0.015 par value, 200,000,000 shares authorized, 11,168,119 and 11,162,026 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 166,779 166,688
Additional paid-in capital 157,692,041 157,692,132
Accumulated deficit (148,543,491) (146,214,429)
Total Stockholders’ Equity 9,316,329 11,645,391
Total Liabilities and Stockholders’ Equity $ 58,575,201 $ 58,437,279