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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net loss $ (5,319,190) $ (4,529,395)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,308,776 1,552,386
Depreciation-Right of Use Assets 48,697 153,978
Stock based compensation 1,355,534 952,472
Stock warrant expense 12,945 0
Loss (gain) on marketable securities 377,475 (24,525)
Amortization of financing fees 2,500 5,000
Provision (recovery) of doubtful accounts 20,086 (69,667)
Derecognition of contingency and grant (10,000) (110,000)
Third party rights agreement termination 0 (420,000)
Change in operating assets and liabilities:    
Accounts receivable (3,849,084) 618,735
Prepaid expenses, unbilled revenue and other current assets 333,820 (100,888)
Referral and support services agreement advance 150,000 0
Accrued expenses and other liabilities 1,597,637 (2,002,231)
Accounts payable 1,401,820 2,421,700
Net cash used in operating activities (2,568,984) (1,552,435)
Investing activities:    
Purchases of equipment and capitalized development costs (911,443) (788,670)
Purchase of marketable securities (1,600,121) (913,110)
Proceeds from the sale of marketable securities 1,155,912 0
Net cash used in investing activities (1,355,652) (1,701,780)
Financing activities:    
Proceeds from sale of common stock, net 0 13,137,500
Proceeds from ValidClick licensing agreement 0 (149,900)
Payments on finance lease obligations (49,737) (117,363)
Proceeds from exercise of options 0 1,569
Net taxes paid on restricted stock unit grants exercised (128,521) (161,244)
Net cash (used in)/provided by financing activities (178,258) 12,710,562
Net change – cash (4,102,894) 9,456,347
Cash and cash equivalent, beginning of year 10,475,964 7,890,665
Cash and cash equivalent, end of period 6,373,070 17,347,012
Supplemental information:    
Interest paid 12,625 32,972
Non cash investing and financing activities:    
Assets purchased under finance lease obligations $ 0 10,724
Assets purchased under operating lease obligations   $ 344,311