v3.25.4
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash $ 3,117,000 $ 5,145,000
Restricted cash 500,000
Accounts receivable - net 15,062,000 12,774,000
Contract asset 3,664,000 4,334,000
Inventory 507,000 574,000
Current assets - related party 16,000 16,000
Prepaid expenses and other current assets 2,872,000 1,957,000
Total current assets 25,738,000 24,800,000
Property and equipment - net 7,775,000 5,290,000
Operating lease right-of-use assets 3,106,000 3,133,000
Intangible assets - net 18,968,000 18,698,000
Goodwill 31,442,000 19,186,000
Other assets 569,000 507,000
TOTAL ASSETS 87,598,000 71,614,000
Current liabilities:    
Accounts payable 6,937,000 4,565,000
Accrued compensation 4,136,000 1,817,000
Accrued expenses 5,970,000 4,951,000
Operating lease liability (current portion) 927,000 1,287,000
Deferred revenue (current portion) 4,148,000 1,212,000
Notes payable (current portion) 728,000 310,000
Contingent consideration (current portion) 909,000
Dividend payable 668,000 5,438,000
Total current liabilities 24,423,000 19,580,000
Notes payable 441,000 26,000
Contingent consideration 232,000
Operating lease liability 2,187,000 1,847,000
Deferred revenue 809,000 387,000
Total liabilities 28,092,000 21,840,000
COMMITMENTS AND CONTINGENCIES (NOTE 11)
SHAREHOLDERS’ EQUITY:    
Preferred stock, $0.001 par value - authorized 7,000,000 shares. Series A, issued and outstanding 984,530 and 4,526,231 shares at December 31, 2025 and December 31, 2024, respectively. Series B, issued and outstanding 1,511,372 shares at December 31, 2025 and December 31, 2024. 2,000 6,000
Common stock, $0.001 par value - authorized 85,000,000 and 35,000,000 shares at December 2025 and 2024, respectively. Issued 43,178,748 and 16,997,035 shares at December 31, 2025 and December 31, 2024, respectively. Outstanding 42,437,949 and 16,256,236 shares at December 31, 2025 and December 31, 2024, respectively 43,000 17,000
Additional paid-in capital 119,936,000 121,046,000
Accumulated deficit (55,832,000) (66,630,000)
Accumulated other comprehensive loss (3,981,000) (4,003,000)
Less: 740,799 common shares held in treasury, at cost at December 31, 2025 and December 31, 2024 (662,000) (662,000)
Total shareholders’ equity 59,506,000 49,774,000
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 87,598,000 $ 71,614,000