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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 511,400 $ 2,635,522
Accounts receivable, net 1,201,526 1,522,784
Due from factor 99,320 49,500
Inventory, net of reserve 445,740 4,434,369
Prepaid expenses and other 364,171 342,706
Total current assets 2,622,157 8,984,881
Equipment and leasehold improvements, net 220,177 107,413
Capitalized contract costs, net 229,806 283,069
Deposits and other assets 0 8,712
Operating lease right-of-use assets 36,905 197,355
Intangible assets, net 1,407,990 1,762,825
Total non-current assets 1,894,878 2,359,374
TOTAL ASSETS 4,517,035 11,344,255
LIABILITIES    
Accounts payable 1,316,014 1,108,279
Accrued liabilities 1,305,848 1,009,123
Convertible note payable 0 2,596,203
Government loan – BBVA Bank, current portion 138,730 120,000
Deferred revenue - current 414,968 462,418
Operating lease liabilities, current portion 37,829 159,665
Total current liabilities 3,213,389 5,455,688
Deferred revenue, net of current portion 28,296 52,134
Deferred tax liability 22,998 170,281
Government loan – BBVA Bank, net of current portion 188,787 326,767
Operating lease liabilities, net of current portion 0 37,829
Total non-current liabilities 240,081 587,011
TOTAL LIABILITIES 3,453,470 6,042,699
Commitments (Note O)
STOCKHOLDERS’ EQUITY    
Common stock — authorized, 170,000,000 shares; issued and outstanding; 1,032,777 and 552,739 of $.0001 par value at December 31, 2023 and December 31, 2022, respectively 103 55
Additional paid-in capital 126,047,851 122,029,476
Accumulated other comprehensive loss 22,821 (242,602)
Accumulated deficit (125,007,210) (116,485,373)
TOTAL STOCKHOLDERS’ EQUITY 1,063,565 5,301,556
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 4,517,035 $ 11,344,255