Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets

v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 10,036 $ 8,059
Investments 6,934 10,393
Accounts receivable, net 13,748 16,223
Inventory 4,768 4,782
Prepaid corporate taxes 34 62
Prepaid expenses 1,310 953
Deposits 650 1,717
Other current assets 63
Total current assets 38,635 43,042
Property and equipment, net 1,727 1,521
OTHER ASSETS:    
Intangible assets - customer lists, net 4,301 3,114
Intangible assets - trade name 654
Goodwill 2,542 [1]
Other assets 23 23
Right of use asset - office leases 930 1,336
Total other assets 8,450 4,473
Total assets 48,812 49,036
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 6,194 4,745
Accrued payroll and related 1,537 2,568
Unearned revenue 3,002 1,116
Rewards program liability 3,000 875
Sales tax payable 212 344
Current portion of contingent earn-out liabilities 156 224
Current portion of installment payment liabilities 372 786
Current portion of lease liability 443 528
Total current liabilities 14,916 11,186
LONG-TERM LIABILITIES:    
Long-term contingent earn-out liabilities 763 763
Long-term installment payment liabilities 339 639
Long-term lease liability 491 798
Total long-term liabilities 1,593 2,200
Total liabilities 16,509 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 September 30, 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 September 30, 2024 and December 31, 2023, respectively 2 2
Additional paid-in capital 38,436 38,263
Accumulated deficit (6,156) (2,602)
Accumulated other comprehensive loss 21 (13)
Total stockholders’ equity 32,303 35,650
Total liabilities and stockholders’ equity 48,812 49,036
Related Parties    
CURRENT ASSETS:    
Accounts receivable - related parties $ 1,092 $ 853
[1] Net of accumulated impairment loss of $1,992 as of December 31, 2023.