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Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Jun. 30, 2021
Current Assets    
Cash $ 21,460,948 $ 24,070,322
Receivables, net of allowance for doubtful accounts of $206,093 and $234,693 at June 30, 2022 and 2021, respectively 3,165,200 3,891,699
Contract asset – unbilled current portion 649,433 1,248,936
Prepaid expense and other current assets 1,307,128 490,817
Total Current Assets 26,582,709 29,701,774
Property and equipment, net 764,517 2,589,194
Other Assets:    
Deposits and other assets 22,414 22,414
Prepaid expense – less current portion 82,934 47,987
Contract asset – unbilled long-term portion 108,052 408,925
Operating lease – right-of-use asset 368,512 695,371
Goodwill 20,883,886 20,883,886
Capitalized software costs, net 114,488 171,732
Total Other Assets 21,974,486 22,755,915
Total Assets 49,321,712 55,046,883
Current liabilities    
Accounts payable 690,638 467,194
Accrued liabilities 1,206,284 988,092
Contract liability - deferred revenue 1,555,143 1,755,341
Lines of credit 2,590,907 6,000,000
Operating lease liability - current 53,862 90,156
Total current liabilities 6,096,834 9,300,783
Long-term liabilities    
Operating lease liability – less current portion 321,818 605,214
Total liabilities 6,418,652 9,905,997
Commitments and contingencies
Stockholders’ equity:    
Common Stock, $0.01 par value, 50,000,000 shares authorized; 18,460,538 and 19,351,935 issued and outstanding at June 30, 2022 and 2021, respectively 184,608 193,522
Additional paid-in capital 68,653,361 74,298,924
Accumulated deficit (25,943,287) (29,359,938)
Total stockholders’ equity 42,903,060 45,140,886
Total liabilities and stockholders’ equity 49,321,712 55,046,883
Series B Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock, value 6,254 6,254
Series B-1 Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock, value 2,124 2,124
Customer Relationships [Member]    
Other Assets:    
Customer relationships $ 394,200 $ 525,600