Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 4,747,951 $ 19,183,044
Restricted cash 4,966,443 6,750,599
Accounts receivable 191,194 208,762
Unbilled receivable 16,332 14,978
Prepaid expenses and other current assets 366,307 743,126
Other receivables 56,832 91,498
Total current assets 10,345,059 26,992,007
Property and equipment, net 737,441 889,935
Capitalized software, net 5,411,009 6,304,854
Operating lease right-of-use assets 1,525,639 2,043,624
Goodwill 2,382,917 2,382,917
Intangible assets, net 4,929,736 5,507,693
Other long-term asset 80,610 80,610
Total assets 25,412,411 44,201,640
Current liabilities:    
Accounts payable 692,919 1,125,906
Accrued expenses 2,338,652 2,525,037
Accrued fiduciary obligations 3,898,847 5,541,067
Deferred revenue 870,790 1,165,248
Current portion of operating lease liabilities 845,790 784,493
Due to related party 3,200 3,637
Total current liabilities 8,650,198 11,145,388
Other long-term liabilities 45,000 45,000
Operating lease liabilities, net of current portion 728,436 1,301,828
Deferred tax liabilities 2,001,012 2,001,012
Total liabilities 11,424,646 14,493,228
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Common stock, $0.0001 par value, 227,791,050 shares authorized; 20,937,901 and 20,299,727 issued and outstanding at September 30, 2022 and December 31, 2021,respectively 2,094 2,030
Additional paid-in capital 53,445,687 51,232,092
Accumulated deficit (39,460,016) (21,525,710)
Total stockholders' equity 13,987,765 29,708,412
Total liabilities and stockholders' equity $ 25,412,411 $ 44,201,640