Annual report pursuant to Section 13 and 15(d)

Discontinued Operations (Tables)

v3.24.1
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2023
Discontinued Operations [Abstract]  
Schedule of Assets and Liabilities of the Disposal Group The following table presents the major classes of assets and liabilities of the Disposal Group:
    As of December 31,  
    2023     2022  
Cash and restricted cash   $ —     $ 305,411  
Accounts receivable, net     —       357,121  
Prepaid expenses & other current assets     —       666,252  
Fixed assets     —       63,764  
Capitalized software, net     —       1,483,111  
Intangible assets, net     —       5,406,094  
Goodwill     —       1,708,303  
Total assets   $ —     $ 9,990,056  
                 
Accounts payable, accrued expenses and other current liabilities   $ —     $ 1,437,661  
Deferred revenue     —       994,713  
Deferred revenue, noncurrent     —       217,083  
Total liabilities   $ —     $ 2,649,457  
                 
Current assets of discontinued operations   $ —     $ 1,328,784  
Noncurrent assets of discontinued operations     —       8,661,272  
Total assets of discontinued operations   $ —     $ 9,990,056  
                 
Current liabilities of discontinued operations   $ —     $ 2,432,374  
Noncurrent liabilities of discontinued operations     —       217,083  
Total liabilities of discontinued operations   $ —     $ 2,649,457  

    
Schedule of Operations of the Disposal Group The following table summarizes the results of operations of the Disposal Group:
    For the Years Ended
December 31,		  
    2023     2022  
Revenue   $ 2,412,534     $ 12,640,170  
Cost of revenue     575,246       2,919,208  
Gross profit     1,837,288       9,720,962  
Research and development     527,301       2,409,740  
Sales and marketing     421,049       4,646,997  
General and administrative     118,133       798,837  
Depreciation and amortization     891,708       3,412,717  
Impairment of long-lived assets     3,065,365       35,249,975  
Changes in fair value of contingent consideration     —       (4,016,194 )
Other expense, net     1,833       —  
Interest expense     —       746  
Loss from discontinued operations before income taxes     (3,188,101 )     (32,781,856 )
Income tax benefit     —       2,117  
Loss from discontinued operations, net of tax     (3,188,101 )     (32,779,739 )
Gain on sale of discontinued operations, net of tax     212,601       —  
Net loss from discontinued operations, net of tax   $ (2,975,500 )   $ (32,779,739 )