XML 101 R6.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (2,705,639) $ (5,011,141) $ (12,497,805) $ (11,099,488)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation expense 17,704 173,562 249,675 459,666
Amortization of internally developed software 735,436 1,075,555 2,036,981 1,948,085
Amortization of other intangible assets 95,777 95,777 191,555 49,520
Depreciation of property and equipment 34,228 32,101 65,712 117,543
Write-off of accounts receivable – unbilled     1,187,964
Write-off of internally developed software     327,387
Bad debt expense 17,578 204,510 705,724 305,039
Non-cash interest income related to accretion of discount on available-for-sale securities (28,976) (28,976) (177,294)
Loss from sales of available-for-sale securities 680 680
Loss on disposal of property and equipment     58
Change in operating assets and liabilities:        
Accounts receivable – unbilled 258,906 505,931 115,251
Accounts receivable 1,054,589 (368,936) (903,329) 564,488
Prepaid expenses and other current assets 59,966 54,515 27,187 8,355
Operating lease right-of-use asset 28,976 81,640 127,006 157,192
Security deposits     15,501
Tax credit receivable     140,873
Accounts payable 117,449 279,933 272,123 1,466,375
Accrued expenses (523,219) (221,406) (371,821) 9,369
Operating lease liability (24,282) (81,435) (120,203) (155,960)
Deferred revenue (196,642) (156,899) (55,063) 283,436
Net cash used in operating activities (1,288,079) (3,611,614) (8,263,713) (5,807,550)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Capitalization of internally developed software (447,687) (653,288) (3,767,332)
Capitalization of other intangible assets     (957,775)
Purchase of property and equipment (454) (9,136) (31,546) (19,478)
Purchase of leasehold improvements     (25,000)
Purchase of available-for-sale securities (460,932) (460,932) (13,039,798)
Proceeds from sales and maturities of available-for-sale securities 3,150,320 3,150,320 10,556,000
Net cash provided by (used in) investing activities (454) 2,232,565 1,979,554 (7,228,383)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from exercise of stock options     70,889
Proceeds from issuance of common stock in connection with At the Market Offering Agreement 1,494,414 1,494,414
Proceeds from issuance of common stock in with Securities Purchase Agreement     398,442
Proceeds from pre-funded warrants     4,600,022
Repurchase of common stock exercisable under PIPE warrants     (52,500)
Payment of offering costs in connection with the issuance of common stock in connection with At the Market Offering Agreement (255,288) (255,288)
Payment of offering costs in connection with the on-going Public Offering (1,100)    
Repurchase of common stock purchase warrants exercisable under PIPE warrants (52,500)    
Payment of offering costs in connection with the issuance of common stock in connection with pre-funded warrants and common shares     (366,189)
Net cash provided by (used in) financing activities (1,100) 1,186,626 5,818,901 70,889
Net decreases in cash and cash equivalents (1,289,633) (192,423) (465,258) (12,965,044)
Cash and cash equivalents at beginning of period 1,878,408 2,343,666 2,343,666 15,308,710
Cash and cash equivalents at end of period 588,775 2,151,243 1,878,408 2,343,666
Supplemental disclosure of cash flow information:        
Cash paid for interest 1,946 8,939 33,751 16,001
Supplemental disclosure of non-cash investing and financing activities:        
Non-cash amounts of lease liabilities arising from obtaining right-of use-assets     312,167 166,357
Non-cash adjustment to reduce lease liabilities and right-of-use assets due to lease termination     85,679
Non-cash amounts of lease liabilities reducing from terminating right-of-use assets 85,679    
Stock issuance costs included in accounts payable and accrued expenses $ 7,023 $ 7,023