Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 7,010,796 $ 4,684,431
Accounts receivable, net 21,388,531 7,871,181
Prepaid expenses and other current assets 696,486 1,225,447
Total current assets 29,095,813 13,781,059
Goodwill 6,519,636 6,519,636
Intangible assets, net (Note 3) 14,126,214 15,591,578
Deferred tax asset, net (Note 12) 3,160,054  
Deferred financing costs, net   96,152
Operating lease right-of-use assets 840,505  
Other long-term assets 58,279 11,508
Total assets 53,800,501 35,999,933
CURRENT LIABILITIES:    
Accounts payable 16,718,342 6,710,015
Accrued liabilities 3,599,944 1,044,907
Current portion of liability related to tax receivable agreement 183,260  
Notes payable, current portion 655,000 550,000
Deferred revenues 1,146,186 1,348,093
Operating lease liabilities, current portion 92,473  
Income taxes payable 94,440  
Related party payables (Note 7)   70,801
Total current liabilities 22,489,645 9,723,816
Notes payable, net of short-term portion and deferred financing cost of $2,250,171 and $2,091,732, respectively 22,942,329 19,358,268
Mandatorily redeemable non-participating preferred units   6,455,562
Line of credit   400,000
Paycheck Protection Program loan   287,143
Economic Injury Disaster Loan 150,000 150,000
Liability related to tax receivable agreement, net of current portion 2,451,103  
Operating lease liabilities, net of current portion 767,610  
Total liabilities 48,800,687 36,374,789
COMMITMENTS AND CONTINGENCIES (Note 8)
STOCKHOLDERS' / MEMBERS' EQUITY (DEFICIT)    
Units, 1,000,000 units authorized at December 31, 2021; 34,182 units issued and outstanding as of December 31, 2021   4,294,241
Additional paid-in capital 7,817,283  
Accumulated deficit (2,832,007) (4,669,097)
Total stockholders' / members' equity (deficit) 4,999,814 (374,856)
Total liabilities and stockholders' / members' equity (deficit) 53,800,501 $ 35,999,933
Class A    
STOCKHOLDERS' / MEMBERS' EQUITY (DEFICIT)    
Common stock 3,260  
Class B    
STOCKHOLDERS' / MEMBERS' EQUITY (DEFICIT)    
Common stock $ 11,278