Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v3.23.1
Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash $ 15,253,756 $ 32,226,668
Short-Term Investments 9,779,355
Accounts Receivable, Net 14,442,626 8,982,768
Deferred Income Taxes 841,000 113,000
Inventory 6,867,564 5,230,792
Prepaid Corporate Taxes 87,459 87,459
Prepaid Expenses 386,884 623,402
Deposits 910,486 299,411
Total Current Assets 48,569,130 47,563,500
PROPERTY AND EQUIPMENT, NET: 1,000,090 615,837
OTHER ASSETS:    
Intangible Assets - Customer Lists, Net 6,272,205 1,929,294
Right of Use Asset - Office Leases 784,683 1,094,778
Total Other Assets 7,056,888 3,024,072
Total Assets 56,626,108 51,203,409
CURRENT LIABILITIES:    
Current Portion of Contingent Earn-Out Liabilities 1,809,874 665,855
Current Portion of Lease Liability 324,594 310,095
Accounts Payable and Accrued Expenses 4,051,657 4,983,496
Accrued Payroll and Related 608,589 836,915
Unearned Revenue 633,148 721,608
Rewards Program Liability 6,000,000 43,878
Sales Tax Payable 365,303 106,824
Note Payable - Wildman 162,358 162,358
Total Current Liabilities 13,955,523 7,831,029
LONG-TERM LIABILITIES:    
Long-Term Contingent Earn-Out Liabilities 2,845,944 976,078
Long-Term Lease Liability 460,089 784,683
Total Long- Term Liabilities 3,306,033 1,760,761
STOCKHOLDER’S EQUITY:    
Common Stock, $.0001 Par Value; 300,000,000 Shares Authorized, 18,475,521 and 19,753,852 Shares Issued and Outstanding as of December 31, 2022 and December 31, 2021, respectively 1,848 1,976
Additional Paid-In Capital 38,279,151 39,747,649
Retained Earnings 1,083,553 1,861,994
Total Stockholder's Equity 39,364,552 41,611,619
Total Liabilities & Stockholder's Equity $ 56,626,108 $ 51,203,409