v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 5,658,354 $ 18,966
Restricted cash and cash equivalents 1,923,716  
Investments 2,654,383  
Trade accounts receivable, less allowance for doubtful accounts of $70,000 and $0, respectively 3,938,002  
Inventories, net 1,793,093 0
Prepaid income taxes 14,671  
Other current assets 1,223,013  
TOTAL CURRENT ASSETS 17,205,232 18,966
PROPERTY, PLANT AND EQUIPMENT, net 341,518  
OTHER ASSETS:    
Investments 250,000  
Goodwill 16,566,853  
Operating lease right of use asset 63,684  
Intangible assets, net 16,777,225 2,780,270
Other assets, net 44,843  
TOTAL OTHER ASSETS 33,702,605 2,780,270
TOTAL ASSETS 51,249,355 2,799,236
CURRENT LIABILITIES:    
Accounts payable 2,404,964 2,233,371
Accrued compensation and benefits 458,177 307,828
Operating lease liability 53,879  
Other accrued liabilities 96,631  
Working capital note payable   350,000
Customer deposits 4,992,632  
Deferred revenue 663,480  
TOTAL CURRENT LIABILITIES 8,669,763 2,891,199
LONG TERM LIABILITIES:    
Loan payable and related interest 1,257,038 6,194,931
Related party payables   2,350,000
Operating lease liability 16,632  
Deferred revenue 327,189  
Contingent value rights 10,743,224  
TOTAL LONG-TERM LIABILITIES 12,344,083 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 41,562,362 (53,750)
Accumulated deficit (11,697,872) (8,736,894)
Accumulated other comprehensive loss (32,760)  
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 30,235,509 (8,636,894)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 51,249,355 $ 2,799,236

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