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Note 2 - Sale and Deconsolidation of GMI and Discontinued Operations (Tables) | 9 Months Ended
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Sep. 30, 2023
Notes Tables |
Disposal Groups, Including Discontinued Operations, Consideration Received [Table Text Block] |
Consideration |  | Amount |  | Description and Valuation Methodology
Cash at closing |  | $ | 935,974 |  | Cash received at closing less estimated value of transition services to be provided.
Cash after closing |  |  | 133,148 |  | Actual cash operating expenses of GMI from March 1 through March 17, 2023 (prior to the transfer of GMI to GMDC).
GMDC common stock |  |  | 581,000 |  | Based on Series A preferred stock issuance to other GMDC investors for $3,000,000 in cash and application of an option pricing model backsolve method and a minority interest discount to estimate the fair value of the common shares of GMDC.
Contingent payments |  |  | 682,000 |  | Estimated by applying a discount rate of 40.8% to the projected cash receipts expected over the 7-year horizon. (See Note 5).
Total consideration |  | $ | 2,332,122 |  |
Disposal Groups, Including Discontinued Operations [Table Text Block] |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Revenue |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 566,862 |
Cost of revenue |  |  | - |  |  |  | 256,974 |  |  |  | 74,223 |  |  |  | 1,118,301 |
Excess of contract costs over revenue |  |  | - |  |  |  | (256,974 | ) |  |  | (74,223 | ) |  |  | (551,439 | )
Operating expenses - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and benefits |  |  | - |  |  |  | 463,502 |  |  |  | 484,249 |  |  |  | 1,076,781 |
Intangibles amortization |  |  | - |  |  |  | 303,791 |  |  |  | 85,338 |  |  |  | 917,496 |
Stock based compensation, before forfeitures |  |  | - |  |  |  | 215,775 |  |  |  | 65,487 |  |  |  | 268,283 |
Forfeiture of stock options |  |  | - |  |  |  | - |  |  |  | (407,322 | ) |  |  | - |
Other operating expenses |  |  | - |  |  |  | 113,078 |  |  |  | 134,633 |  |  |  | 702,534 |
Change in fair value of contingent consideration |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (930,000 | )
Goodwill impairment |  |  | - |  |  |  | 2,254,624 |  |  |  |  |  |  |  | 2,254,624 |
Gain on disposal of business |  |  | - |  |  |  | - |  |  |  | (100,615 | ) |  |  | - |
Loss before income tax benefit |  |  | - |  |  |  | (3,607,744 | ) |  |  | (335,993 | ) |  |  | (4,841,157 | )
Income tax benefit |  |  | - |  |  |  | 77,592 |  |  |  | - |  |  |  | 1,788,509 |
Net loss on discontinued operations |  | $ | - |  |  | $ | (3,530,152 | ) |  | $ | (335,993 | ) |  | $ | (3,052,648 | )
|  | December 31, |
|  | 2022 |
Customer relationship intangible asset, net of amortization |  | $ | 1,057,722 |
Technology intangible asset, net of amortization |  |  | 760,698 |
Capitalized software development costs |  |  | 498,425 |
Total assets of discontinued operations |  | $ | 2,316,845 |

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