v3.24.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net loss $ (11,578,169) $ (79,057,610)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on sale of discontinued operations, net (212,601)
Loss on sale of investment 221,101
Bad debt expense 56,855 371,364
Stock-based compensation expense 403,501 873,929
Depreciation and amortization 918,898 7,834,712
Amortization of deferred contract costs 39,285 337,350
Non-cash interest expense 597,276
Foreign currency gain (22,506) (14,553)
Impairment of long-lived assets 3,065,365 61,778,605
Change in fair value of convertible notes 370,457 2,884,273
Change in fair value of derivative liability (63,178)
Change in fair value of contingent consideration (4,016,194)
Changes in operating assets and liabilities:    
Accounts receivable, net 8,295 197,647
Prepaid expenses and other current assets 602,216 257,555
Other assets 9,700
Accounts payable, accrued expenses and other current liabilities 870,152 (324,166)
Deferred income tax liabilities (675,291)
Deferred revenue (410,100) (2,113,249)
Net cash used in operating activities (5,888,352) (10,900,729)
Cash flows from investing activities    
Developed software additions (4,345,260)
Fixed asset additions (31,884)
Cash paid for business combinations and working capital settlement, net of cash acquired 400,000
Proceeds received from sale of discontinued operations, net 1,237,362
Proceeds received from sale of investment 5,000
Net cash provided by (used in) investing activities 1,237,362 (3,972,144)
Cash flows from financing activities    
Value of shares withheld related to tax withholdings (49) (9,926)
Proceeds from unit and pre-funded unit offering, net 9,178,960
Proceeds from the exercise of pre-funded warrants 1
Proceeds from private placement offering of common stock 500,000
Proceeds from the ATM offering program, net 1,854,565
Proceeds from the issuance of secured promissory note 1,650,000
Principal payments of convertible notes (4,917,356) (1,432,273)
Proceeds from the issuance of convertible redeemable preferred stock, net 4,294,500
Redemption of convertible redeemable preferred stock (5,250,000)
Net cash (used in) provided by financing activities (2,767,405) 8,635,827
Effect of exchange rate changes on cash and restricted cash 3,601 (22,225)
Net decrease in cash and restricted cash (7,414,794) (6,259,271)
Cash and restricted cash of continuing operations - beginning of period 7,877,844 12,937,554
Cash and restricted cash of discontinued operations - beginning of period 305,411 1,504,972
Cash and restricted cash - beginning of period 8,183,255 14,442,526
Cash and restricted cash of continuing operations - end of period 768,461 7,877,844
Cash and restricted cash of discontinued operations - end of period 305,411
Cash and restricted cash - end of period 768,461 8,183,255
Cash paid for income taxes, net of refunds received 15,684
Cash paid for interest, net 787,187 256,440
Supplemental disclosure of non-cash investing and financing activity:    
Vesting of restricted stock units 50,000
Settlement of convertible notes in common stock 3,187,101 3,925,500
Settlement of convertible notes in preferred stock 3,422,000
Stock-based compensation capitalized as software development 19,764
Capitalized software included in accrued expenses 17,974
Conversion of exchangeable shares to common stock 285,253 180,647
Settlement of liabilities with common stock 49,529
Shares returned in connection with acquisition 940,000
Termination of contingent consideration obligation in connection with sale of discontinued operations 2,283,806
Reduction to accrued expenses from an acquisition-related working capital settlement $ 160,000

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