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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 13,047,565 $ 1,625,671
Accounts receivable, net 4,337,020 1,101,185
Contract assets 151,230 106,015
Inventories 812,320
Prepaid expenses and other current assets 270,481 73,938
Total current assets 18,618,616 2,906,809
Property, plant and equipment, net 1,729,920 11,747
Goodwill 1,223,520 1,223,520
Right-of-use asset 1,624,194
Long-term note receivable 673,185
Intangible assets, net 2,293,681 2,298,805
Deferred contract costs, net 163,140 193,730
Total Assets 26,326,256 6,634,611
Current liabilities:    
Accounts payable and accrued expenses 1,990,993 2,105,505
Contract liabilities 2,860,730 168,957
Earnout liability 752,559
Lease liability, current maturities 331,905
Other current liabilities 5,000
Total current liabilities 5,941,187 2,274,462
Lease liability, net of current maturities 1,292,289
Total liabilities 7,233,476 2,274,462
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $1.00 par value, 5,405,010 shares authorized; none issued or outstanding
Common stock, $0.01 par value, 25,000,000 shares authorized; 8,596,189 issued and outstanding as of September 30, 2020 and 1,157,890 issued and outstanding as of December 31, 2019 85,962 11,579
Additional paid-in capital 39,654,308 21,932,387
Accumulated deficit (20,647,490) (17,583,817)
Total stockholders’ equity 19,092,780 4,360,149
Total Liabilities and Stockholders’ Equity $ 26,326,256 $ 6,634,611