v3.24.1.1.u2
CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 1,725,817 $ 3,124,413
Accounts receivable, net of provision for credit losses of $0 1,704,429 1,648,904
Prepaid expenses and other 16,358 18,368
Income tax receivable 9,640 7,230
Total current assets 3,456,244 4,798,915
PROPERTY AND EQUIPMENT, NET 0 1,861
OTHER ASSETS    
Other assets 180,432 182,333
Operating lease right of use asset 1,024,513 1,104,804
TOTAL ASSETS 4,661,189 6,087,913
CURRENT LIABILITIES:    
Accounts payable - trade 3,356,700 2,908,472
Advances from founders 1,750,000 1,750,000
Accrued expenses 168,902 200,531
Senior Secured Convertible Promissory Notes 4,204,743 2,825,366
Current portion of operating lease liability 180,875 174,876
Deferred revenue- current portion 3,742,145 4,008,654
Total current liabilities 13,403,365 11,867,899
NON-CURRENT LIABILITIES:    
Operating lease liability, net of current portion 870,492 943,702
Warrant liability 7,515,076 667,985
Earnout liability 26,618,278 5,133,428
Deferred revenue- non-current 4,304,587 4,962,126
Total liabilities 52,711,798 23,575,140
STOCKHOLDERS' DEFICIT:    
Preferred stock - no par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2024 and December 31, 2023 0 0
Common stock - $0.0001 par value, 200,000,000 shares authorized, 23,159,119 and 22,812,048 shares issued and outstanding as of March 31, 2024 and December 31, 2023 2,314 2,281
Additional paid in capital 1,397,815 0
Accumulated deficit (49,441,169) (17,476,700)
Accumulated other comprehensive loss (9,569) (12,808)
Total stockholders' deficit (48,050,609) (17,487,227)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 4,661,189 $ 6,087,913

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