Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash $ 7,071,913 $ 3,969,100
Accounts receivable, net 1,390,152 1,244,876
Contract assets 37,566 102,458
Prepaid expenses and other current assets 694,702 486,626
Total Current Assets 9,194,333 5,803,060
Property and equipment, net 321,143 342,180
Operating lease right of use asset 154,023 196,144
OTHER ASSETS:    
Patents and trademarks, net 70,508 64,415
Total Other Assets 70,508 64,415
TOTAL ASSETS 9,740,007 6,405,799
CURRENT LIABILITIES    
Accounts payable 689,649 599,317
Accounts payable - related parties 7,700 7,700
Notes payable - financing agreements 237,390 42,942
Payroll taxes payable 3,146 3,146
Accrued expenses 984,174 1,038,092
Current portion - equipment financing agreements 92,224 89,620
Current portion-operating lease obligations 158,556 202,797
Current portion-SBA loan 627,465
Contract liabilities 166,033 709,553
Deferred revenue 1,267,921 315,370
Total Current Liabilities 3,606,793 3,636,002
Equipment financing payable, less current portion 79,128 103,184
SBA loan, less current portion 782,805
Total Liabilities 3,685,921 4,521,991
STOCKHOLDERS' EQUITY:    
Common stock: $0.001 par value; 500,000,000 shares authorized, 3,535,339 shares issued, 3,534,015 shares outstanding at March 31, 2021 and December 31, 2020, respectively 3,536 3,536
Additional paid-in capital 39,897,175 39,820,874
Total stock & paid-in-capital 46,105,711 41,529,410
Accumulated deficit (39,894,173) (39,488,150)
Sub-total 6,211,538 2,041,260
Less: Treasury stock (1,324 shares of common stock at March 31, 2021 and December 31, 2020) (157,452) (157,452)
Total Stockholders' Equity (Deficit) 6,054,086 1,883,808
Total Liabilities and Stockholders' Equity (Deficit) 9,740,007 6,405,799
Series A Convertible Preferred Stock [Member]    
STOCKHOLDERS' EQUITY:    
Preferred stock: $0.001 par value, 10,000,000 authorized, 9,480,000 shares available to be designated
Series B Convertible Preferred Stock [Member]    
STOCKHOLDERS' EQUITY:    
Preferred stock: $0.001 par value, 10,000,000 authorized, 9,480,000 shares available to be designated 1,705,000 1,705,000
Series C Convertible Preferred Stock [Member]    
STOCKHOLDERS' EQUITY:    
Preferred stock: $0.001 par value, 10,000,000 authorized, 9,480,000 shares available to be designated $ 4,500,000