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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (3,970,781) $ 9,717,744
Less: Income from discontinued operations 0 7,603,300
(Loss) Income from continuing operations (3,970,781) 2,114,444
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 23,405 64,285
Amortization on right of use asset 16,296 16,750
Amortization of debt issuance costs 3,999 3,999
Amortization of discount - proceeds from sale of discontinued operations (20,712) (341,205)
Accrued interest on convertible notes 583,685 626,549
Accretion of discounts on marketable securities (1,876,074) (1,318,083)
Gain on sale of investment (80,694) (5,805,858)
Gain on debt redemption (137,356) (111,151)
Allowance for credit losses 225,000 0
Stock-based compensation expense 4,873,593 4,920,572
Change in fair value of warrant liability (563) (4,088)
Change in operating assets and liabilities:    
Accounts receivable (1,198,651) (1,109,505)
Contract assets 251,681 983,499
Prepaid expenses 379,453 (34,542)
Lease liabilities (27,505) (16,750)
Deposits and other assets 1,098,673 57,767
Accounts payable 682,239 (56,313)
Accrued expenses (1,634,149) 1,224,648
Deferred revenues (169,832) 172,332
Other liabilities (488,791) 0
Net cash (used in) provided by operating activities - continuing operations (1,467,084) 1,387,350
Net cash used in operating activities - discontinued operations 0 (59,075)
Net cash (used in) provided by operating activities (1,467,084) 1,328,275
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to property and equipment 0 (75,493)
Purchase of marketable securities (133,894,613) (103,468,975)
Sale and maturity of marketable securities 131,417,076 78,597,821
Proceeds from sale of investment 80,694 5,805,858
Net cash from sale of discontinued operations 1,666,666 21,501,841
Net cash (used in) provided by investing activities - continuing operations (730,177) 2,361,052
Net cash (used in) provided by investing activities (730,177) 2,361,052
CASH FLOWS FROM FINANCING ACTIVITIES:    
Tax payments related to shares withheld for vested restricted stock units (113,637) (147,991)
Stock repurchase (74,400) 0
Cash used to redeem convertible notes (950,000) (960,000)
Net cash used in financing activities - continuing operations (1,138,037) (1,107,991)
Net cash used in financing activities (1,138,037) (1,107,991)
Net change in cash (3,335,298) 2,581,336
Cash and cash equivalents, beginning of period 6,042,986 2,795,743
Cash and cash equivalents, end of period 2,707,688 5,377,079
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 0
Cash (received) paid for taxes $ (1,346,108) $ 3,276,800