XML 31 R20.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

Summary of Significant Accounting Policies (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Accounting Policies [Abstract] |
Schedule of Allowance for Credit Losses | Changes in the allowance for credit losses for the period ended March 31, 2024 and 2023 were as follows: Schedule of Allowance for Credit Losses
|  | Trade Receivables |
As of December 31, 2023 |  | $ | (124,103 | )
(Provisions) Reductions charged to operating results |  | $ | 14,588 |
Accounts write-offs |  |  | 1,640 |
As of March 31, 2024 |  | $ | (109,515 | )
|  | Trade Receivables |
As of December 31, 2022 |  | $ | (88,331 | )
(Provisions) Reductions charged to operating results |  | $ | (21,742 | )
Accounts write-offs |  | $ | 1,640 |
As of March 31, 2023 |  | $ | (108,433 | )
Schedule of Changes in Contract Assets and Liabilities | The following tables present changes in our contract assets during the three months ended March 31, 2024 and 2023: Schedule of Changes in Contract Assets and Liabilities
|  | Balance at Beginning of Period |  |  | Billings |  |  | Payments Received |  |  |  |  | Balance at End of Period |
Three months ended March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 1,850,375 |  | - | $ | 4,242,590 |  | - | $ | (4,161,623 | )- |  | - | - | $ | 1,931,342 |
Three months ended March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 1,121,083 |  |  | $ | 3,341,583 |  |  | $ | (3,280,143 | ) |  |  |  | $ | 1,182,523 |
|  | Balance at Beginning of Period |  |  | Revenue Recognized in Advance of Billings |  |  | Billings |  |  | Balance at End of Period |
Three months ended March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable, unbilled |  | $ | 1,320,837 |  |  | $ | 1,380,300 |  |  | $ | (1,414,680 | ) |  | $ | 1,286,457 |
Three months ended March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable, unbilled |  | $ | 596,410 |  |  | $ | 1,336,851 |  |  | $ | (1,045,519 | ) |  | $ | 887,742 |
|  | Balance at Beginning of Period |  |  | Commissions Paid |  |  | Commissions Recognized |  |  | Balance at End of Period |
Three months ended March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other contract assets |  | $ | 140,165 |  |  | $ | 1,336,851 |  |  | $ | (37,518 | ) |  | $ | 130,829 |
Three months ended March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other contract assets |  | $ | 80,378 |  |  | $ | 27,792 |  |  | $ | (27,593 | ) |  | $ | 80,577 |
The following table presents changes in our contract liabilities during the three months ended March 31, 2024 and 2023:
|  | Balance at Beginning of Period |  |  | Billings |  |  | Recognized Revenue |  |  | Balance at End of Period |
Three months ended March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contract liabilities: deferred revenue |  | $ | 2,927,808 |  |  | $ | 1,200,998 |  |  | $ | (1,545,599 | ) |  | $ | 2,583,207 |
Three months ended March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contract liabilities: deferred revenue |  | $ | 2,754,064 |  |  | $ | 1,146,380 |  |  | $ | (1,718,168 | ) |  | $ | 2,182,276 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities are presented below: Schedule of Deferred Tax Assets and Liabilities
|  | March 31, 2024 |  |  | December 31, 2023 |
Deferred tax assets |  |  |  |  |  |  |  |
Reserves and accruals not currently deductible for tax purposes |  | $ | 84,441 |  |  | $ | 69,676 |
Amortizable assets |  |  | 120,946 |  |  |  | 109,612 |
Net operating loss carryforwards |  |  | 4,655,024 |  |  |  | 4,771,762 |
Deferred tax assets, gross |  |  | 4,860,411 |  |  |  | 4,951,050 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Amortizable assets |  |  | (203,414 | ) |  |  | (197,579 | )
Property and equipment |  |  | (202,219 | ) |  |  | (214,698 | )
Net Deferred tax assets |  |  | 4,454,778 |  |  |  | 4,538,773 |
Valuation allowance |  |  | (4,454,778 | ) |  |  | (4,538,773 | )
Deferred tax assets, net |  | $ | - |  |  | $ | - |
Schedule of Segment Information | Information by operating segment is as follows: Schedule of Segment Information
|  | Three months ended March 31, 2024 |  |  | Three months ended March 31, 2023 |
Revenues |  |  |  |  |  |  |  |
Document Management |  | $ | 1,820,420 |  |  | $ | 1,769,483 |
Document Conversion |  |  | 2,686,664 |  |  |  | 2,417,350 |
Total revenues |  | $ | 4,507,084 |  |  | $ | 4,186,833 |
Gross profit |  |  |  |  |  |  |  |
Document Management |  | $ | 1,556,893 |  |  | $ | 1,483,108 |
Document Conversion |  |  | 1,342,751 |  |  |  | 1,162,731 |
Total gross profit |  | $ | 2,899,644 |  |  | $ | 2,645,839 |
Capital additions, net |  |  |  |  |  |  |  |
Document Management |  | $ | 110,619 |  |  | $ | 116,041 |
Document Conversion |  |  | 17,313 |  |  |  | 18,528 |
Total capital additions, net |  | $ | 127,932 |  |  | $ | 134,569 |
|  | March 31, 2024 |  |  | December 31, 2023 |
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, 2024 |  |  | December 31, 2023 |
Total assets |  |  |  |  |  |  |  |
Document Management |  | $ | 9,618,219 |  |  | $ | 10,104,004 |
Document Conversion |  |  | 9,297,967 |  |  |  | 8,922,256 |
Total assets |  | $ | 18,916,186 |  |  | $ | 19,026,260 |

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
Name: | us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration