Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes

Schedule of components of income tax expense (benefit)

	DECEMBER 31,
	2022		2021
Current provision
State	$	20,000	$	100,000
Foreign		26,982		50,165
Total		46,982		150,165
Deferred provision (benefit)
Federal		4,717,527		567,316
State		298,832		(83,032	)
Foreign		14,534		5,998
Total		5,030,893		490,282
Income tax (benefit) provision	$	5,077,875	$	640,447

Schedule of effective income tax rate reconciliation

	DECEMBER 31,
	2022			2021
Statutory federal income tax rate		21.0	%		21.0	%
State, net of federal benefit		4.0	%		7.5	%
Non-deductible expenses		-5.7	%		-19.7	%
Change in valuation allowance		-45.9	%		-15.1	%
Foreign rate differential		0.0	%		-3.8	%
Return to accrual difference true-ups		0.3	%		-15.1	%
Other		-0.2	%		-0.1	%
Deferred tax adjustment and true-up		-1.0	%		88.2	%
Combined effective tax rate		-27.4	%		62.9	%

Schedule of deferred tax assets and liabilities

	DECEMBER 31,
	2022			2021
Deferred tax assets:
Net operating loss carryforwards	$	10,584,372		$	9,501,008
Alternative minimum tax credit		45,650			45,650
Share-based compensation		475,297			659,338
Intangible amortization		(48,740	)		208,036
Lease liability		1,555,503			1,554,888
Other assets		167,825			251,553
Total deferred tax assets		12,779,907			12,220,473
Less: valuation allowance		(10,503,243	)		(1,999,630	)
Total deferred tax assets, net		2,276,664			10,220,843
Deferred tax liabilities:
Goodwill amortization		116,530			3,041,451
Depreciation		324,959			210,755
Foreign intangible amortization		334,973			409,269
Other liabilities		11,354			12,830
Lease asset		1,401,939			1,419,056
Total deferred tax liabilities		2,189,755			5,093,361
Net deferred tax asset	$	86,909		$	5,127,482

Summary of valuation allowance

	DECEMBER 31,
	2022			2021
Beginning balance	$	(1,999,630	)	$	(2,152,768	)
Decreases (increases)		(8,503,613	)		153,138
Ending balance	$	(10,503,243	)	$	(1,999,630	)