XML 33 R22.htm IDEA: XBRL DOCUMENT v3.23.1
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2023
Accounting Policies [Abstract]  
Schedule of Changes in Contract Assets

 

  

Balance at

Beginning of

Period

   Billings  

Payments

Received

  

Balance at

End of

Period

 
Three months ended March 31, 2023                    
Accounts receivable  $1,121,083  $3,341,583   $(3,280,144)  $1,182,523 
                     
Three months ended March 31, 2022                    
Accounts receivable  $1,176,059  $2,622,808   $(2,900,468)  $898,400 

 

  

Balance at

Beginning of Period

  

Revenue

Recognized in

Advance of

Billings

   Billings  

Balance at

End of

Period

 
Three months ended March 31, 2023                    
Accounts receivable, unbilled  $596,410  $1,336,851   $(1,045,519)  $887,742 
                     
Three months ended March 31, 2022                    
Accounts receivable, unbilled  $444,782   $700,869   $(671,665)  $473,986 

 

  

Balance at

Beginning of

Period

  

Commissions

Paid

  

Commissions

Recognized

  

Balance at

End of

Period

 
Three months ended March 31, 2023                    
Other contract assets  $80,378  $27,792   $(27,593)  $80,577 
                     
Three months ended March 31, 2022                    
Other contract assets  $78,556   $22,136   $(14,089)  $86,603 
The following table presents changes in our contract liabilities during the three months ended March 31, 2023 and 2022:

 

   Balance at
Beginning
of Period		   Billings   Recognized
Revenue		   Balance at
End of
Period		 
Three months ended March 31, 2023                    
Contract liabilities: deferred revenue  $2,754,064  $1,146,380   $(1,718,168)  $2,182,276 
                     
Three months ended March 31, 2022                    
Contract liabilities: deferred revenue  $1,194,649   $984,117   $(1,042,700)  $1,136,066 
 
Schedule of Segment Information

Information by operating segment is as follows:

 

  

Three months

ended

March 31, 2023

  

Three months

ended

March 31, 2022

 
Revenues          
Document Management  $1,769,483   $914,950 
Document Conversion   2,417,350    1,788,562 
Total revenues  $4,186,833   $2,703,512 
           
Gross profit          
Document Management  $1,483,108   $734,906 
Document Conversion   1,162,731    896,931 
Total gross profit  $2,645,839   $1,631,837 
           
Capital additions, net          
Document Management  $116,041   $31,084 
Document Conversion   18,528    54,356 
Total capital additions, net  $134,569   $85,440 

 

   March 31, 2023   December 31, 2022 
Goodwill          
Document Management  $3,989,645   $3,989,645 
Document Conversion   1,800,176    1,800,176 
Total goodwill  $5,789,821   $5,789,821 

 

   March 31, 2023   December 31, 2022 
Total assets          
Document Management  $9,707,317   $10,284,143 
Document Conversion   9,092,153    9,658,959 
Total assets  $18,799,470   $19,943,142