XML 11 R2.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Current Assets:    
Cash $ 4,627,379 $ 6,308,866
Accounts receivable, net 8,400,967 4,967,714
Insurance recovery receivable 3,600,000 2,850,000
Contract assets 24,157,141 24,459,339
Inventory 3,108,241 4,028,925
Refundable income taxes 42,335 40,000
Prepaid expenses and other current assets 617,188 625,075
Total current assets 44,553,251 43,279,919
Operating lease right-of-use assets 6,736,441 7,796,768
Property and equipment, net 1,250,304 1,646,863
Intangibles, net 31,250 125,000
Goodwill 1,784,254 1,784,254
Other assets 282,299 372,741
Total assets 54,637,799 55,005,545
Current Liabilities:    
Accounts payable 12,768,638 10,429,018
Accrued expenses 4,564,515 6,102,587
Litigation settlement obligation 3,600,000 3,003,259
Contract liabilities 5,041,818 5,122,766
Loss reserve 635,406 1,495,714
Current portion of long-term debt 2,591,928 3,365,181
Operating lease liabilities 1,728,707 1,580,453
Income tax payable 3,750 5,165
Total current liabilities 30,934,762 31,104,143
Line of credit 21,000,000 21,250,000
Long-term operating lease liabilities 5,345,919 6,445,728
Long-term debt, net of current portion 100,375 1,540,747
Total liabilities 57,381,056 60,340,618
Shareholders’ Deficit:    
Common stock - $.001 par value; authorized 50,000,000 shares, 12,325,360 and 12,335,683 shares, respectively, issued and outstanding 12,325 12,336
Additional paid-in capital 73,082,112 72,833,742
Accumulated deficit (75,837,694) (78,181,151)
Total Shareholders’ Deficit (2,743,257) (5,335,073)
Total Liabilities and Shareholders’ Deficit $ 54,637,799 $ 55,005,545