Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 14,107,751 $ 19,183,044
Restricted cash 8,003,810 6,750,599
Accounts receivable 110,436 208,762
Unbilled receivable   14,978
Prepaid expenses and other current assets 566,901 743,126
Other receivables 89,973 91,498
Total current assets 22,878,871 26,992,007
Property and equipment, net 922,476 889,935
Capitalized software, net 6,161,243 6,304,854
Operating lease right-of-use assets 1,918,923 2,043,624
Goodwill 2,382,917 2,382,917
Intangible assets, net 5,287,736 5,507,693
Other long-term asset 80,610 80,610
Total assets 39,632,776 44,201,640
Current liabilities:    
Accounts payable 1,064,646 1,125,906
Accrued expenses 2,174,054 2,525,037
Accrued fiduciary obligations 6,669,528 5,541,067
Deferred revenue 1,241,920 1,165,248
Current portion of operating lease liabilities 813,191 784,493
Due to related party 3,637 3,637
Total current liabilities 11,966,976 11,145,388
Other long-term liabilities 45,000 45,000
Operating lease liabilities, net of current portion 1,152,052 1,301,828
Deferred tax liabilities 2,001,012 2,001,012
Total liabilities 15,165,040 14,493,228
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Common stock, $0.0001 par value, 227,791,050 shares authorized; 20,299,727 issued and outstanding at March 31, 2022 and December 31, 2021 2,030 2,030
Additional paid-in capital 51,481,080 51,232,092
Accumulated deficit (27,015,374) (21,525,710)
Total stockholders' equity 24,467,736 29,708,412
Total liabilities and stockholders' equity $ 39,632,776 $ 44,201,640