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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (loss) income $ (14,152,107) $ 380,693
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Deferred income tax benefit (3,176,568) (20,298)
Depreciation expense 540,361 504,798
Goodwill impairment charge 16,277,000 0
(Recovery) provision for doubtful accounts (311) (24,544)
Amortization of intangibles 592,544 239,333
Share-based compensation expense 269,126 426,663
Warrants expense 108,000 0
Change in fair value of contingent consideration (967,000) 0
Changes in assets and liabilities:    
Accounts receivable and unbilled receivables (3,118,288) (28,567,676)
Inventories 134,346 110,791
Other current assets (532,882) 22,415
Other assets (28,272) (27,160)
Accounts payable and accrued expenses 1,968,727 (30,488,525)
Income tax payable (154,418) 40,017
Deferred revenue and other liabilities (312,606) (177,159)
Other liabilities (358,000) 246,037
Net cash provided by (used in) operating activities 4,179,844 (411,355)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (214,096) (90,302)
Capitalized hardware and software development costs (1,936,687) (1,159,583)
Net cash used in investing activities (2,150,783) (1,249,885)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments under finance lease obligations (297,132) (285,755)
Withholding taxes paid on behalf of employees on net settled restricted stock awards (49,224) (140,865)
Common stock repurchased (818,211) 0
Issuance of common stock/At-the-market offering, net of issuance costs 0 1,071,045
Proceeds from exercise of stock options 0 10,250
Net cash (used in) provided by financing activities (1,164,567) 654,675
Net effect of exchange rate on cash and equivalents (152,389) (42,812)
NET INCREASE (DECREASE) IN CASH 712,105 (1,049,377)
CASH AND CASH EQUIVALENTS, beginning of period 6,479,980 15,996,749
CASH AND CASH EQUIVALENTS, end of period 7,192,085 14,947,372
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest 124,854 140,242
Cash paid for income taxes 27,559 159,335
NONCASH INVESTING AND FINANCING ACTIVITIES    
Capitalized hardware and software development costs in accounts payable 151,995 76,245
Leased assets and lease liabilities terminated $ 876,281 $ 0