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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (1,577,873) $ (2,714,666)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Deferred income tax expense 103,000 0
Depreciation expense 779,972 794,344
Provision for credit losses 21,584 39,979
Amortization of intangibles 1,782,070 1,533,870
Share-based compensation expense 986,325 535,417
Loss on disposal of fixed assets 0 3,211
Changes in assets and liabilities:    
Accounts receivable and unbilled receivables (8,627,232) 1,208,899
Inventories (71,644) (271,869)
Other current assets (864,123) (198,992)
Other assets (6,412) 27,161
Accounts payable and accrued expenses 6,237,759 (504,739)
Income tax payable (68,342) 29,780
Deferred revenue and other liabilities 551,938 1,352,781
Net cash (used in) provided by operating activities (752,978) 1,835,176
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (80,702) (166,210)
Capitalized hardware and software development costs 0 (810,219)
Proceeds from beneficial interest in sold receivables 259,125 469,104
Net cash provided by (used in) investing activities 178,423 (507,325)
CASH FLOWS FROM FINANCING ACTIVITIES    
Advances on bank line of credit 4,600,000 6,493,284
Repayments of bank line of credit advances (4,600,000) (6,493,284)
Principal repayments under finance lease obligations (456,825) (420,139)
Withholding taxes paid on behalf of employees on net settled restricted stock awards (258,382) (3,628)
Net cash used in financing activities (715,207) (423,767)
Net effect of exchange rate on cash 4,659 23,100
NET (DECREASE) INCREASE IN CASH (1,285,103) 927,184
CASH, beginning of period 6,921,160 7,530,864
CASH, end of period 5,636,057 8,458,048
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest 163,400 168,083
NONCASH INVESTING AND FINANCING ACTIVITIES    
Capitalized hardware and software development costs in accounts payable $ 0 $ 22,198