Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 4,915,815 $ 4,684,431
Accounts receivable, net 14,843,049 7,871,181
Prepaid expenses and other current assets 794,092 1,225,447
Total current assets 20,552,956 13,781,059
Goodwill 6,519,636 6,519,636
Intangible assets, net (Note 3) 14,614,669 15,591,578
Deferred tax asset, net (Note 12) 3,195,034  
Deferred financing costs, net 33,434 96,152
Operating lease - right-of-use assets 885,458  
Other long-term assets 56,605 11,508
Total assets 45,857,792 35,999,933
CURRENT LIABILITIES:    
Accounts payable 10,161,370 6,710,015
Accrued liabilities 6,608,768 1,044,907
Current portion of liability related to tax receivable agreement 183,260  
Notes payable, current portion 550,000 550,000
Deferred revenues 442,982 1,348,093
Operating lease liabilities, current portion 96,621  
Income taxes payable 47,710  
Related party payables (Note 7)   70,801
Total current liabilities 18,090,711 9,723,816
Notes payable, net of short-term portion and deferred financing cost of $2,038,438 and $2,091,732, respectively 19,136,562 19,358,268
Mandatorily redeemable non-participating preferred units   6,455,562
Line of credit 400,000 400,000
Paycheck Protection Program loan   287,143
Economic Injury Disaster Loan 150,000 150,000
Liability related to tax receivable agreement, net of current portion 2,565,640  
Operating lease liabilities, net of current portion 789,436  
Total liabilities 41,132,349 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 7,747,250  
Accumulated deficit (3,036,348) (4,669,097)
Total stockholders' / members' equity (deficit) 4,725,443 (374,856)
Total liabilities and stockholders' / members' equity (deficit) 45,857,792 $ 35,999,933
Class A    
STOCKHOLDERS' / MEMBERS' EQUITY (DEFICIT)    
Common stock 3,163  
Class B    
STOCKHOLDERS' / MEMBERS' EQUITY (DEFICIT)    
Common stock $ 11,378