XML 20 R5.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Revenues $ 44,764,852 $ 45,243,812 $ 42,190,643
Cost of revenues 26,498,437 26,568,485 24,593,326
Gross profit 18,266,415 18,675,327 17,597,317
Operating expenses:      
Indirect costs 9,275,688 8,935,113 11,859,401
Overhead 1,906,682 1,884,059 1,560,252
General and administrative 14,328,672 17,697,886 13,586,600
Goodwill impairment loss 0 6,919,094 0
(Gain) loss from change in fair value of contingent earnout 0 (92,000) 555,000
Total operating expenses 25,511,042 35,344,152 27,561,253
Loss from operations before other income (expense) (7,244,627) (16,668,825) (9,963,936)
Other income (expense):      
Loss on induced conversion 0 (300,000) 0
Loss on extinguishment of debt (822,847) 0 0
Gain from sale of subsidiary 39,234 0 0
Gain (loss) from change in fair value of derivative liability (725,600) 1,054,025 (132,000)
Other income, net 0 106,419 303
Interest expense, net of interest income (1,158,435) (3,248,914) (3,992,809)
Total other expense (2,667,648) (2,388,470) (4,124,506)
Loss from operations before (expense) benefit for income taxes (9,912,275) (19,057,295) (14,088,442)
Income tax (expense) benefit (68,032) 1,257,117 (819,596)
Net loss (9,980,307) (17,800,178) (14,908,038)
Less: preferred stock dividends 119,277 118,152 100,516
Net loss to common shareholders $ (10,099,584) $ (17,918,330) $ (15,008,554)
Net loss per share      
Net loss per share, basic (in usd per share) $ (0.18) $ (0.38) $ (0.55)
Net loss per share, diluted (in usd per share) $ (0.18) $ (0.38) $ (0.55)
Shares used in calculation of net loss per share - basic (in shares) 55,287,657 47,177,950 27,468,226
Shares used in calculation of net loss per share - diluted (in shares) 55,287,657 47,177,950 27,468,226