Note 2 - Sale and Deconsolidation of GMI and Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2023

Notes Tables

Disposal Groups, Including Discontinued Operations, Consideration Received [Table Text Block]

Consideration	Amount		Description and Valuation Methodology
Cash at closing	$	935,974	Cash received at closing less estimated value of transition services to be provided.
Cash after closing		133,148	Actual cash operating expenses of GMI from March 1 through March 17, 2023 (prior to the transfer of GMI to GMDC).
GMDC common stock		581,000	Based on Series A preferred stock issuance to other GMDC investors for $3,000,000 in cash and application of an option pricing model backsolve method and a minority interest discount to estimate the fair value of the common shares of GMDC.
Contingent payments		682,000	Estimated by applying a discount rate of 40.8% to the projected cash receipts expected over the 7-year horizon. (See Note 5).
Total consideration	$	2,332,122

Disposal Groups, Including Discontinued Operations [Table Text Block]

	Three Months Ended September 30,					Nine Months Ended September 30,
	2023		2022			2023			2022
Revenue	$	-	$	-		$	-		$	566,862
Cost of revenue		-		256,974			74,223			1,118,301
Excess of contract costs over revenue		-		(256,974	)		(74,223	)		(551,439	)
Operating expenses -
Salaries and benefits		-		463,502			484,249			1,076,781
Intangibles amortization		-		303,791			85,338			917,496
Stock based compensation, before forfeitures		-		215,775			65,487			268,283
Forfeiture of stock options		-		-			(407,322	)		-
Other operating expenses		-		113,078			134,633			702,534
Change in fair value of contingent consideration		-		-			-			(930,000	)
Goodwill impairment		-		2,254,624						2,254,624
Gain on disposal of business		-		-			(100,615	)		-
Loss before income tax benefit		-		(3,607,744	)		(335,993	)		(4,841,157	)
Income tax benefit		-		77,592			-			1,788,509
Net loss on discontinued operations	$	-	$	(3,530,152	)	$	(335,993	)	$	(3,052,648	)

	December 31,
	2022
Customer relationship intangible asset, net of amortization	$	1,057,722
Technology intangible asset, net of amortization		760,698
Capitalized software development costs		498,425
Total assets of discontinued operations	$	2,316,845