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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 30, 2021
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedule of revenues |
|  | Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |
Recruiters on Demand |  | $ | 2,754,427 |  |  | $ | 231,831 |
Consulting and staffing services |  |  | 4,230,104 |  |  |  | 3,490,056 |
Permanent placement fees |  |  | 228,162 |  |  |  | 290,767 |
Software Subscriptions |  |  | 175,790 |  |  |  | 0 |
Marketplace Solutions |  |  | 156,956 |  |  |  | 153,883 |
Total revenue |  | $ | 7,545,439 |  |  | $ | 4,166,537 |
|  | Three Months Ended June 30, |
|  | 2021 |  |  | 2020 |
Recruiters on Demand |  | $ | 1,796,948 |  |  | $ | 46,856 |
Consulting and staffing services |  |  | 2,157,658 |  |  |  | 1,576,662 |
Permanent placement fees |  |  | 188,196 |  |  |  | 153,140 |
Software Subscriptions |  |  | 175,790 |  |  |  | 0 |
Marketplace Solutions |  |  | 62,302 |  |  |  | 76,756 |
Total revenue |  | $ | 4,380,894 |  |  | $ | 1,853,414 |
Schedule Expected Deferred Revenue Recognition Schedule |
Expected Deferred Revenue Recognition Schedule |  |  |  |  |  |  |  |  |  |
|  | Total Deferred 6/30/21 |  |  | Recognized Q3 2021 |  |  | Recognized Q4 2021 |  |  | Recognized Q1 2022 |  |  | Recognized Q2 2022 |
Full-time Placement |  | $ | 322,994 |  |  | $ | 322,994 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |
Software Subscriptions |  |  | 85,526 |  |  |  | 56,960 |  |  |  | 11,109 |  |  |  | 10,868 |  |  |  | 6,589 |
Recruiters on Demand |  |  | 68,400 |  |  |  | 68,400 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
TOTAL |  | $ | 476,920 |  |  | $ | 448,354 |  |  | $ | 11,109 |  |  | $ | 10,868 |  |  | $ | 6,589 |
Schedule of fair values of financial assets and liabilities |
|  | Fair Value at June 30, |  |  | Fair Value Measurement Using |
|  | 2021 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Available for sale marketable securities (Note 3) |  | $ | 890 |  |  | $ | 890 |  |  | $ | - |  |  | $ | - |
Warrant derivative liability (Note 9) |  | $ | 8,921,615 |  |  | $ | - |  |  | $ | - |  |  | $ | 8,921,615 |
Schedule of derivative liability measured at fair value on a recurring basis |
|  | Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |
Balance at January 1 |  | $ | 11,537,997 |  |  | $ | 612,042 |
Additions to derivative instruments |  |  | 5,960,059 |  |  |  | 5,625,519 |
Reclassifications to equity upon extinguishment |  |  | (373,070 | ) |  |  | 2,642,175 |
(Gain) loss on change in fair value of derivative liability |  |  | (8,203,371 | ) |  |  | 904,176 |
Balance at June 30 |  | $ | 8,921,615 |  |  | $ | 9,783,912 |
Schedule of earnings (loss) per share |
|  | June 30, |  |  | June 30, |
|  | 2021 |  |  | 2020 |
Options |  |  | 953,503 |  |  |  | 542,304 |
Stock awards |  |  | 221,600 |  |  |  | 346,600 |
Warrants |  |  | 2,318,736 |  |  |  | 1,461,377 |
Convertible notes |  |  | 1,489,833 |  |  |  | 738,281 |
Convertible preferred stock |  |  | 5,774,835 |  |  |  | 6,664,110 |
|  |  | 10,758,507 |  |  |  | 9,752,672 |
Schedule of diluted loss per share |
|  | Three months ended |
|  | June 30, |
|  | 2021 |
Net income attributable to common shareholders |  | $ | 3,528,279 |
Income attributable to warrant derivatives |  |  |  |
Change in fair value of derivative |  |  | (7,574,750 | )
Diluted loss attributable to common shareholders |  | $ | (4,046,471 | )
Basic shares outstanding |  |  | 3,560,745 |
Warrant derivative shares |  |  | 2,318,736 |
Diluted shares outstanding |  |  | 5,879,481 |
Diluted loss per share |  | $ | (0.69 | )

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