Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 13,764,508 $ 19,183,044
Restricted cash 9,352,608 6,750,599
Accounts receivable, net 1,437,786 208,762
Unbilled receivable 350,393 14,978
Prepaid expenses and other current assets 1,601,920 743,126
Other receivables 30,634 91,498
Total current assets 26,537,849 26,992,007
Property and equipment, net 1,506,082 889,935
Capitalized software, net 4,588,706 6,304,854
Operating lease right-of-use assets 3,841,810 2,043,624
Goodwill 5,837,060 2,382,917
Intangible assets, net 6,323,279 5,507,693
Security deposits 1,293,166 52,277
Other long-term asset 21,668 28,333
Total assets 49,949,620 44,201,640
Current liabilities:    
Accounts payable 1,457,670 1,125,906
Accrued expenses 5,274,716 2,525,037
Accrued fiduciary obligations 9,024,463 5,541,067
Deferred revenue 288,499 1,165,248
Current portion of operating lease liabilities 1,311,295 784,493
Due to related party 3,201 3,637
Total current liabilities 17,359,844 11,145,388
Other long-term liabilities 20,203,700 45,000
Operating lease liabilities, net of current portion 4,771,871 1,301,828
Deferred tax liabilities 1,479,880 2,001,012
Total liabilities 43,815,295 14,493,228
STOCKHOLDERS' EQUITY    
Common stock, $0.0001 par value, 227,791,050 shares authorized; 21,279,032 issued and outstanding at December 31, 2022 and 20,299,727 issued and outstanding at December 31, 2021 2,128 2,030
Additional paid-in capital 54,126,297 51,232,092
Accumulated deficit (47,994,100) (21,525,710)
Total stockholders' equity 6,134,325 29,708,412
Total liabilities and stockholders' equity $ 49,949,620 $ 44,201,640