v3.22.2.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenue        
Total revenue $ 5,412,802 $ 5,135,502 $ 18,449,524 $ 14,056,414
Cost of revenue 2,051,862 1,971,382 6,091,511 5,339,929
Gross profit 3,360,940 3,164,120 12,358,013 8,716,485
Operating expenses        
Product development 1,374,133 1,566,478 5,240,922 4,517,836
Sales and marketing 1,882,980 2,002,461 8,304,411 5,564,519
General and administrative 1,823,076 2,077,474 6,812,617 8,306,417
Depreciation and amortization 2,118,739 1,238,420 6,094,963 3,605,435
Impairment of long-lived assets 39,600,587
Change in fair value of contingent consideration (3,000,000) (3,000,000)
Total operating expenses 4,198,928 6,884,833 63,053,500 21,994,207
Loss from operations (837,988) (3,720,713) (50,695,487) (13,277,722)
Other (expense) income        
Interest (expense) income, net (396,022) (238,283) (609,746) (1,175,789)
Change in fair value of convertible notes (1,113,000) (23,227) (2,840,000) (2,030,904)
Change in fair value of derivative liability 2,256 194,046 54,153 151,175
Gain on forgiveness of PPP Loan 2,234,730 2,234,730
Other expense (income), net 243
Total other (expense) income (1,506,766) 2,167,266 (3,395,593) (820,545)
Net loss before income taxes and equity in losses of investee (2,344,754) (1,553,447) (54,091,080) (14,098,267)
Income tax (expense) benefit 40,666 268,152 (10,570)
Equity in losses of investee (7,564)
Net loss $ (2,304,088) $ (1,553,447) $ (53,822,928) $ (14,116,401)
Basic and diluted weighted average common shares outstanding (in shares) 3,883,847 1,322,122 2,421,262 1,215,626
Basic and diluted net loss per common share (in dollars per share) $ (0.59) $ (1.17) $ (22.23) $ (11.61)
Software        
Revenue        
Total revenue $ 5,326,830 $ 4,557,960 $ 17,756,272 $ 12,809,841
Consulting        
Revenue        
Total revenue 76,500 551,402 618,809 1,135,033
Other revenue        
Revenue        
Total revenue $ 9,472 $ 26,140 $ 74,443 $ 111,540

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