Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 851 $ 1,147
Restricted cash 12,761 12,345
Accounts receivable, net 366 1,124
Unbilled receivable 727 768
Prepaid expenses and other current assets 1,000 901
Total current assets 16,505 17,085
Property and equipment, net 579 611
Capitalized software, net 1,512 2,127
Operating lease right-of-use assets 2,311 2,373
Goodwill 3,018 3,018
Intangible assets, net 4,874 5,177
Security deposits 1,267 1,267
Other long-term asset 22 22
Total assets 30,088 31,680
Current liabilities:    
Accounts payable 3,824 4,649
Accrued expenses 3,076 2,816
Accrued fiduciary obligations 9,510 11,573
Deferred revenue 1,481 661
Current portion of operating lease liabilities 523 512
Total current liabilities 20,123 20,843
Other long-term liabilities 19,724 19,401
Operating lease liabilities, net of current portion 3,547 3,684
Deferred tax liabilities 1,190 1,190
Total liabilities 44,584 45,118
COMMITMENTS AND CONTINGENCIES (Note 16)
STOCKHOLDERS' DEFICIT    
Common stock, $0.0001 par value, 227,791,050 shares authorized; 10,308,038 shares and 7,960,938 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively [1] 1 1
Additional paid-in capital 66,595 63,307
Accumulated deficit (81,092) (76,746)
Total stockholders' deficit (14,496) (13,438)
Total liabilities and stockholders' deficit 30,088 31,680
Nonrelated Party    
Current liabilities:    
Other short-term liabilities 1,709 632
Related Party    
Current assets:    
Other receivables $ 800 $ 800
[1] Reflects 1-for-4 reverse stock split that became effective June 29, 2023. See Note 1 to the unaudited condensed consolidated financial statements.