v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current    
Cash and cash equivalents $ 7,665,608 $ 8,756,585
Restricted cash 925,004 925,004
Accounts receivable:    
Trade, net of allowance of $411,806 and $1,327,808, respectively 7,025,142 7,848,970
Other receivables 5,825,228 5,243,931
Other current assets 929,970 1,179,498
Total current assets 22,370,952 23,953,988
Capitalized production costs, net 516,574 520,338
Employee receivable 1,228,085 1,196,085
Right-of-use assets 2,207,557 3,012,941
Goodwill 21,507,944 21,507,944
Intangible assets, net 6,852,855 7,898,607
Property, equipment and leasehold improvements, net 27,320 50,961
Other long-term assets 189,151 189,296
Total Assets 54,900,438 58,330,160
LIABILITIES    
Accounts payable 2,515,443 3,096,715
Term loans, current portion 1,890,056 1,813,760
Revolving line of credit 400,000 400,000
Notes payable, current portion 3,900,000 3,500,000
Convertible notes payable, current portion 1,200,000 1,250,000
Accrued interest – related party 2,284,479 2,043,087
Accrued compensation – related party 2,625,000 2,625,000
Lease liabilities, current portion 1,449,843 1,912,482
Deferred revenue 1,019,146 794,177
Other current liabilities 11,897,478 11,096,820
Total current liabilities 29,181,445 28,532,041
Noncurrent    
Term loans, noncurrent portion 3,245,988 2,976,930
Notes payable, noncurrent portion 4,180,000 4,580,000
Convertible notes payable 6,550,000 6,460,000
Convertible notes payable – related party 2,774,965 2,904,357
Convertible note payable at fair value 250,000 270,000
Loans from related party 983,112 983,112
Lease liabilities 1,016,199 1,469,386
Deferred tax liability 499,213 463,909
Total Liabilities 48,680,922 48,639,735
STOCKHOLDERS’ EQUITY    
Preferred Stock, Series C, $0.001 par value, 50,000 shares authorized, 50,000 shares issued and outstanding at June 30, 2026 and December 31, 2025 1,000 1,000
Common stock, $0.015 par value, 200,000,000 shares authorized, 13,025,551 and 12,221,432 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 195,384 183,321
Additional paid-in capital 159,623,905 158,809,301
Accumulated deficit (153,600,773) (149,303,197)
Total Stockholders’ Equity 6,219,516 9,690,425
Total Liabilities and Stockholders’ Equity $ 54,900,438 $ 58,330,160