XML 11 R2.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 2,839,687 $ 1,644.210
Accounts receivable, net 215,109 171,785
Prepaid expenses and other current assets 164,823 184,366
Total current assets 3,219,619 2,000,361
Property and equipment, net 40,493 59,848
Intangible assets, net 3,175,198 3,633,420
Operating lease right-of-use assets 61,040 93,457
Total assets 6,496,350 5,787,086
Current liabilities:    
Accounts payable 2,300,509 1,460,484
Finance leases - current portion 0 2,844
Accrued expenses 376,387 276,254
Contract liabilities 11,154 9,046
Operating lease obligations – current portion 36,123 33,118
Total current liabilities 2,724,173 1,781,746
Long-term liabilities:    
Operating lease obligations – net of current portion 25,187 61,794
Deferred tax liability, net 838,312 960,947
Total liabilities 3,587,672 2,804,487
Commitments and contingencies
Shareholders' equity:    
Common stock, $0.001 par value, 25,000,000 shares authorized; 7,807,103 shares issued and 7,773,263 shares outstanding at December 31, 2021, 6,489,004 shares issued and 6,455,164 outstanding at December 31, 2020 7,807 6,489
Accrued common stock bonus 0 2,005,500
Additional paid-in capital 72,691,201 70,083,486
Accumulated other comprehensive income 590,067 570,761
Accumulated deficit (70,322,550) (69,625,790)
Common stock in treasury, at cost, 33,840 shares at December 31, 2021 and 2020 (57,847) (57,847)
Total shareholders' equity 2,908,678 2,982,599
Total liabilities and shareholders' equity 6,496,350 5,787,086
Series A Preferred Stock [Member]    
Shareholders' equity:    
Series A Preferred stock, $0.001 par value, 5,000,000 shares authorized; no shares issued and outstanding at December 31, 2021 and 2020, respectively $ 0 $ 0