Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.22.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue:        
Total revenue $ 6,085,881 $ 4,906,887 $ 13,036,722 $ 8,920,911
Cost of revenue 1,835,977 1,914,380 4,039,648 3,368,547
Gross profit 4,249,904 2,992,507 8,997,074 5,552,364
Operating expenses:        
Product development 1,761,428 1,527,258 3,866,789 2,951,358
Sales and marketing 3,185,318 1,826,143 6,421,431 3,562,058
General and administrative 2,419,109 4,375,981 4,989,541 6,228,943
Depreciation and amortization 1,982,833 1,314,132 3,976,224 2,367,015
Impairment of long-lived assets 24,122,066 39,600,587
Total operating expenses 33,470,754 9,043,514 58,854,572 15,109,374
Loss from operations (29,220,850) (6,051,007) (49,857,498) (9,557,010)
Other (expense) income:        
Interest (expense) income, net (212,984) (163,125) (213,724) (937,505)
Change in fair value of convertible notes (294,000) (16,405) (1,727,000) (2,007,677)
Change in fair value of derivative liability 33,845 133,125 51,896 (42,871)
Other expense (income), net 243 243
Total other (expense) income (473,139) (46,162) (1,888,828) (2,987,810)
Net loss before income taxes and equity in losses of investee (29,693,989) (6,097,169) (51,746,326) (12,544,820)
Income tax (expense) benefit 128,042 (4,300) 227,486 (10,570)
Equity in losses of investee (3,782) (7,564)
Net loss $ (29,565,947) $ (6,105,251) $ (51,518,840) $ (12,562,954)
Basic and diluted weighted average common stock outstanding 35,477,788 24,530,169 33,694,681 23,375,981
Basic and diluted net loss per common share $ (0.83) $ (0.25) $ (1.53) $ (0.54)
Software        
Revenue:        
Total revenue $ 5,920,929 $ 4,456,728 $ 12,429,442 $ 8,251,881
Consulting        
Revenue:        
Total revenue 115,300 410,884 542,309 583,631
Other revenue        
Revenue:        
Total revenue $ 49,652 $ 39,275 $ 64,971 $ 85,399