v3.22.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 5,750,143 $ 18,966
Restricted cash 3,969,096  
Investments 786,787  
Trade accounts receivable, less allowance for doubtful accounts of $59,000 and $0, respectively 2,804,070  
Inventories, net 1,625,666 0
Prepaid income taxes 3,374  
Other current assets 960,688  
Current assets held for sale 6,566,855  
TOTAL CURRENT ASSETS 22,466,679 18,966
PROPERTY, PLANT AND EQUIPMENT, net 298,895  
OTHER ASSETS:    
Investments 2,302,395  
Goodwill 15,776,014  
Operating lease right of use asset 127,902  
Intangible assets, net 18,778,947 2,780,270
Other assets, net 41,139  
TOTAL OTHER ASSETS 37,026,397 2,780,270
TOTAL ASSETS 59,791,971 2,799,236
CURRENT LIABILITIES:    
Accounts payable 2,922,795 2,233,371
Accrued compensation and benefits 797,473 307,828
Operating lease liability 93,721  
Other accrued liabilities 8,904  
Working capital note payable   350,000
Dividends payable 506,212  
Deferred revenue 114,277  
Contingent value rights 6,566,855  
TOTAL CURRENT LIABILITIES 11,010,237 2,891,199
LONG TERM LIABILITIES:    
Loan payable and related interest 974,460 6,194,931
Related party payables   2,350,000
Operating lease liability 39,122  
Deferred revenue 68,729  
Contingent consideration 4,684,000  
Contingent value rights 11,710,375  
TOTAL LONG-TERM LIABILITIES 17,476,686 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 (10,620,528) (8,736,894)
Accumulated other comprehensive loss (17,067)  
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 31,305,048 (8,636,894)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 59,791,971 $ 2,799,236

Source