v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 3,495,235 $ 18,966
Restricted cash and cash equivalents 11,554,406  
Investments 1,462,747  
Trade accounts receivable, less allowance for doubtful accounts of $64,000 and $0, respectively 3,440,173  
Inventories, net 1,266,730 0
Prepaid income taxes 11,071  
Other current assets 1,032,418  
TOTAL CURRENT ASSETS 22,262,780 18,966
PROPERTY, PLANT AND EQUIPMENT, net 274,149  
OTHER ASSETS:    
Investments 1,600,913  
Goodwill 16,602,399  
Operating lease right of use asset 95,906  
Intangible assets, net 17,752,586 2,780,270
Other assets, net 44,843  
TOTAL OTHER ASSETS 36,096,647 2,780,270
TOTAL ASSETS 58,633,576 2,799,236
CURRENT LIABILITIES:    
Accounts payable 2,321,143 2,233,371
Accrued compensation and benefits 497,784 307,828
Operating lease liability 69,793  
Other accrued liabilities 61,817  
Working capital note payable   350,000
Customer deposits 1,242,801  
Deferred revenue 709,120  
Contingent value rights 8,745,628  
TOTAL CURRENT LIABILITIES 13,648,086 2,891,199
LONG TERM LIABILITIES:    
Loan payable and related interest 1,106,013 6,194,931
Related party payables   2,350,000
Operating lease liability 27,942  
Deferred revenue 360,404  
Earnout consideration 13,000  
Contingent value rights 10,746,162  
TOTAL LONG-TERM LIABILITIES 12,253,521 8,544,931
COMMITMENTS AND CONTINGENCIES (Note 8)
STOCKHOLDERS’ EQUITY    
Convertible preferred stock, par value $1.00 per share; 3,000,000 shares authorized; 32,000 and 0 issued and outstanding, respectively 32,000
Common stock, par value $0.05 per share; 37,500,000 shares authorized; 7,435,586 and 3,074,998 shares issued and outstanding, respectively 371,779 153,750
Additional paid-in capital 41,538,864 (53,750)
Accumulated deficit (9,177,876) (8,736,894)
Accumulated other comprehensive loss (32,798)  
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 32,731,969 (8,636,894)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 58,633,576 $ 2,799,236

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