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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash $ 10,440,000 $ 5,145,000
Accounts receivable - net 13,563,000 12,774,000
Contract asset 3,955,000 4,334,000
Inventory 523,000 574,000
Current assets - related party 16,000 16,000
Prepaid expenses and other current assets 2,593,000 1,957,000
Total current assets 31,090,000 24,800,000
Property and equipment - net 5,828,000 5,290,000
Operating lease right-of-use assets 3,058,000 3,133,000
Intangible assets - net 15,512,000 18,698,000
Goodwill 19,192,000 19,186,000
Other assets 564,000 507,000
TOTAL ASSETS 75,244,000 71,614,000
Current liabilities:    
Accounts payable 4,215,000 4,565,000
Accrued compensation 3,324,000 1,817,000
Accrued expenses 4,909,000 4,951,000
Operating lease liability (current portion) 1,294,000 1,287,000
Deferred revenue (current portion) 1,232,000 1,212,000
Notes payable (current portion) 222,000 310,000
Contingent consideration (current portion) 330,000
Dividend payable 714,000 5,438,000
Total current liabilities 16,240,000 19,580,000
Notes payable 86,000 26,000
Contingent consideration 426,000
Operating lease liability 1,785,000 1,847,000
Deferred revenue 631,000 387,000
Total liabilities 19,168,000 21,840,000
COMMITMENTS AND CONTINGENCIES (NOTE 9)
SHAREHOLDERS’ EQUITY:    
Preferred stock, $0.001 par value - authorized 7,000,000 shares. Series A, issued and outstanding 984,530 and 4,526,231 shares at June 30, 2025 and December 31, 2024, respectively. Series B, issued and outstanding 1,511,372 shares at June 30, 2025 and December 31, 2024. 2,000 6,000
Common stock, $0.001 par value - authorized 85,000,000 shares. Issued 43,062,838 and 16,997,035 shares at June 30, 2025 and December 31, 2024, respectively. Outstanding 42,322,039 and 16,256,236 shares at June 30, 2025 and December 31, 2024, respectively 43,000 17,000
Additional paid-in capital 122,635,000 121,046,000
Accumulated deficit (61,780,000) (66,630,000)
Accumulated other comprehensive loss (4,162,000) (4,003,000)
Less: 740,799 common shares held in treasury, at cost at June 30, 2025 and December 31, 2024 (662,000) (662,000)
Total shareholders’ equity 56,076,000 49,774,000
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 75,244,000 $ 71,614,000