Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

v3.25.0.1
Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 9,486 $ 8,059
Investments 10,710 10,393
Accounts receivable, net 14,209 16,223
Inventory 4,231 4,782
Prepaid corporate taxes 62
Prepaid expenses 948 953
Deposits 1,578 1,717
Total current assets 42,040 43,042
Property and equipment, net 1,664 1,521
OTHER ASSETS:    
Intangible assets - customer lists, net 3,029 3,114
Other assets 23 23
Right of use asset - office leases 1,192 1,336
Total other assets 4,244 4,473
Total assets 47,948 49,036
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 3,347 4,745
Accrued payroll and related 1,710 2,568
Unearned revenue 592 1,116
Rewards program liability 2,850 875
Sales tax payable 595 344
Current portion of contingent earn-out liabilities 224 224
Current portion of installment payment liabilities 781 786
Current portion of lease liability 540 528
Total current liabilities 10,639 11,186
LONG-TERM LIABILITIES:    
Long-term contingent earn-out liabilities 763 763
Long-term installment payment liabilities 639 639
Long-term lease liability 661 798
Total long-term liabilities 2,063 2,200
Total liabilities 12,702 13,386
Commitments and contingencies (Note K)
STOCKHOLDER’S EQUITY:    
Preferred stock, $0.0001 par value; 50,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively
Common stock, $0.0001 par value; 300,000,000 shares authorized, 18,589,086 and 18,539,000 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 2 2
Additional paid-in capital 38,413 38,263
Accumulated deficit (3,089) (2,602)
Accumulated other comprehensive loss (80) (13)
Total stockholders’ equity 35,246 35,650
Total liabilities and stockholders’ equity 47,948 49,036
Related Party    
CURRENT ASSETS:    
Accounts receivable - related parties $ 878 $ 853