XML 22 R6.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities:    
Net loss $ (5,761,801) $ (10,389,653)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,515,177 2,655,368
Amortization of right of use assets - financing 54,356 96,190
Amortization of right of use assets - operating lease 227,628 609,524
Stock based compensation 1,501,444 1,986,296
(Gain) Loss on marketable securities 0 (14,668)
Amortization of financing fees 20,000 8,333
Impairment and amortization of referral and support services agreement advance 800,000 300,000
Adjustment to expected losses on accounts receivable (1,442,533) 786,549
Stock warrant (income) expense 0 (7,905)
Deferred income tax benefit 8,028 (17,764)
Derecognition of contingencies and grant (35,000) 0
Change in operating assets and liabilities:    
Accounts receivable (1,876,282) 1,106,387
Prepaid expenses, other current assets and other assets 111,320 (263,569)
Accounts payable 1,990,231 (1,612,682)
Accrued expenses and other liabilities 2,329,295 2,745,173
Lease liability - operating lease (212,309) (541,654)
Net cash used in operating activities 229,554 (2,554,075)
Investing activities:    
Capitalized software development costs and purchases of equipment (1,857,375) (1,682,683)
Proceeds from the sale of marketable securities 0 2,288,873
Net cash provided by (used in) investing activities (1,857,375) 606,190
Financing activities:    
Gross proceeds from line of credit 0 592,868
Repayments on line of credit 0 (592,868)
Proceeds from sale of common stock, net of expenses 0 3,665,000
Payments on finance/capital leases (50,801) (102,340)
Net taxes paid on RSU grants exercised (302,587) (166,872)
Proceeds from at-the-market sales 0 61,136
Net cash provided by/(used in) financing activities (353,388) 3,456,924
Net change - cash (1,981,209) 1,509,039
Cash, beginning of year 4,440,454 2,931,415
Cash end of year 2,459,245 4,440,454
Supplemental information:    
Interest paid 337,961 105,148
Non-cash investing and financing activities:    
Acquisition of right of use asset for operating lease liability 335,286 1,105,148
Issuance of 3,287,537 restricted stock units to settle accrued incentive liability $ 1,055,530 $ 0