Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Aug. 14, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001017655 | |
Entity Registrant Name | PAID INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2023 | |
Entity File Number | 0-28720 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 73-1479833 | |
Entity Address, Address Line One | 225 Cedar Hill Street | |
Entity Address, City or Town | Marlborough | |
Entity Address, State or Province | MA | |
Entity Address, Postal Zip Code | 01752 | |
City Area Code | 617 | |
Local Phone Number | 861-6050 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 8,010,837 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 1,900,723 | $ 1,787,248 |
Accounts receivable, net | 217,174 | 169,074 |
Note receivable, net of discount | 1,854,167 | 1,604,167 |
Prepaid expenses and other current assets | 53,149 | 151,374 |
Total current assets | 4,025,213 | 3,711,863 |
Property and equipment, net | 17,263 | 23,487 |
Intangible assets, net | 2,579,215 | 2,663,311 |
Operating lease right-of-use assets | 5,058 | 23,063 |
Total assets | 6,626,749 | 6,421,724 |
Current liabilities: | ||
Accounts payable | 1,555,890 | 1,610,416 |
Accrued expenses | 401,048 | 430,858 |
Contract liabilities | 12,475 | 13,020 |
Operating lease obligations – current portion | 3,601 | 22,199 |
Total current liabilities | 1,973,014 | 2,076,493 |
Long-term liabilities: | ||
Deferred tax liability, net | 732,546 | 707,952 |
Uncertain tax position liability | 265,167 | 265,167 |
Total liabilities | 2,970,727 | 3,049,612 |
Commitments and contingencies | ||
Shareholders' equity: | ||
Common stock, $0.001 par value, 25,000,000 shares authorized; 8,154,474 shares issued and 8,010,837 shares outstanding at June 30, 2023 and 7,840,124 shares issued and 7,696,487 shares outstanding at December 31, 2022 | 8,154 | 7,840 |
Accrued common stock bonus | 0 | 82,180 |
Additional paid-in capital | 73,373,030 | 72,800,976 |
Accumulated other comprehensive income | 347,836 | 316,360 |
Accumulated deficit | (69,908,158) | (69,670,404) |
Common stock in treasury, at cost, 143,637 shares at June 30, 2023 and December 31, 2022 | (164,840) | (164,840) |
Total shareholders' equity | 3,656,022 | 3,372,112 |
Total liabilities and shareholders' equity | 6,626,749 | 6,421,724 |
Series A Preferred Stock [Member] | ||
Shareholders' equity: | ||
Series A Preferred stock, $0.001 par value, 5,000,000 shares authorized; no shares issued and outstanding | $ 0 | $ 0 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 25,000,000 | 25,000,000 |
Common stock, shares issued (in shares) | 8,154,474 | 7,840,124 |
Common stock, shares outstanding (in shares) | 8,010,837 | 7,696,487 |
Treasury Stock (in shares) | 143,637 | 143,637 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Revenues, net | $ 4,130,381 | $ 4,535,665 | $ 7,936,656 | $ 8,145,366 |
Cost of revenues | 3,185,733 | 3,513,888 | 6,139,414 | 6,325,097 |
Gross profit | 944,648 | 1,021,777 | 1,797,242 | 1,820,269 |
Operating expenses: | ||||
Salaries and related | 501,329 | 442,796 | 996,830 | 901,305 |
General and administrative | 341,937 | 299,504 | 651,954 | 598,906 |
Share-based compensation | 94,238 | 41,916 | 486,776 | 60,012 |
Amortization of other intangible assets | 74,514 | 78,472 | 148,580 | 160,511 |
Total operating expenses | 1,012,018 | 862,688 | 2,284,140 | 1,720,734 |
Income (loss) from operations | (67,370) | 159,089 | (486,898) | 99,535 |
Other income (expense): | ||||
Other income | 125,000 | 0 | 250,000 | 0 |
Income (loss) before income tax provision | 57,630 | 159,089 | (236,898) | 99,535 |
Income tax provision | 456 | 79,089 | 856 | 79,989 |
Net income (loss) | $ 57,174 | $ 80,000 | $ (237,754) | $ 19,546 |
Net income (loss) per share – basic (in dollars per share) | $ 0.01 | $ 0.01 | $ (0.03) | $ 0 |
Weighted average number of common shares outstanding - basic (in shares) | 8,008,312 | 7,775,266 | 7,866,386 | 7,774,270 |
Net income (loss) per share – diluted (in dollars per share) | $ 0.01 | $ 0.01 | $ (0.03) | $ 0 |
Weighted average number of common shares outstanding - diluted (in shares) | 8,013,295 | 7,801,262 | 7,866,386 | 7,804,144 |
Condensed consolidated statements of comprehensive income (loss): | ||||
Net income (loss) | $ 57,174 | $ 80,000 | $ (237,754) | $ 19,546 |
Other comprehensive income (loss): | ||||
Foreign currency translation adjustments | 33,772 | (93,288) | 31,476 | (54,988) |
Comprehensive income (loss) | $ 90,946 | $ (13,288) | $ (206,278) | $ (35,442) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (237,754) | $ 19,546 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation and amortization | 155,269 | 168,219 |
Amortization of operating lease right-of-use assets | 18,241 | 17,656 |
Accretion of discount on note receivable | (250,000) | 0 |
Share-based compensation | 486,776 | 60,012 |
Provision for bad debt | 0 | 13,500 |
Changes in assets and liabilities: | ||
Accounts receivable | (43,248) | (94,252) |
Prepaid expenses and other current assets | 99,354 | 89,330 |
Accounts payable | (91,440) | 120,563 |
Accrued expenses | (38,036) | 49,880 |
Contract liabilities | (858) | 1,771 |
Operating lease obligations | (18,802) | (18,252) |
Net cash provided by operating activities | 79,502 | 427,973 |
Cash flows from financing activities | ||
Proceeds from option exercises | 3,412 | 0 |
Net cash provided by financing activities | 3,412 | 0 |
Effect of exchange rate changes on cash and cash equivalents | 30,561 | (55,416) |
Net change in cash and cash equivalents | 113,475 | 372,557 |
Cash and cash equivalents, beginning of period | 1,787,248 | 2,839,687 |
Cash and cash equivalents, end of period | 1,900,723 | 3,212,244 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Income taxes | 856 | 1,356 |
Interest | 0 | 0 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH ITEMS | ||
Issuance of common shares in settlement of accrued common stock bonus | $ 82,180 | $ 0 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) | Deferred Compensation, Share-Based Payments [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Treasury Stock, Common [Member] | Total |
Balance (in shares) | 7,807,103 | (33,840) | |||||
Balance (in shares) at Dec. 31, 2021 | 7,807,103 | (33,840) | |||||
Balance at Dec. 31, 2021 | $ 7,807 | $ 72,691,201 | $ 590,067 | $ (70,322,550) | $ (57,847) | $ 2,908,678 | |
Foreign currency translation adjustments | 0 | 0 | 38,300 | 0 | 0 | 38,300 | |
Share-based compensation expense | 0 | 18,096 | 0 | 0 | 0 | 18,096 | |
Net income (loss) | 0 | 0 | 0 | (60,454) | 0 | (60,454) | |
Net income | $ 0 | 0 | 0 | (60,454) | $ 0 | (60,454) | |
Balance (in shares) at Mar. 31, 2022 | 7,807,103 | (33,840) | |||||
Balance at Mar. 31, 2022 | $ 7,807 | 72,709,297 | 628,367 | (70,383,004) | $ (57,847) | 2,904,620 | |
Share-based compensation expense | $ 0 | 18,096 | 0 | 0 | $ 0 | 18,096 | |
Balance (in shares) at Dec. 31, 2021 | 7,807,103 | (33,840) | |||||
Balance at Dec. 31, 2021 | $ 7,807 | 72,691,201 | 590,067 | (70,322,550) | $ (57,847) | 2,908,678 | |
Foreign currency translation adjustments | (54,988) | ||||||
Net income (loss) | 19,546 | ||||||
Net income | 19,546 | ||||||
Balance (in shares) at Jun. 30, 2022 | 7,820,124 | (33,840) | |||||
Balance at Jun. 30, 2022 | $ 7,820 | 72,751,200 | 535,079 | (70,303,004) | $ (57,847) | 2,933,248 | |
Balance (in shares) | 7,807,103 | (33,840) | |||||
Balance (in shares) at Mar. 31, 2022 | 7,807,103 | (33,840) | |||||
Balance at Mar. 31, 2022 | $ 7,807 | 72,709,297 | 628,367 | (70,383,004) | $ (57,847) | 2,904,620 | |
Foreign currency translation adjustments | 0 | 0 | (93,288) | 0 | 0 | (93,288) | |
Share-based compensation expense | 0 | 16,916 | 0 | 0 | 0 | 16,916 | |
Net income (loss) | $ 0 | 0 | 0 | 80,000 | $ 0 | 80,000 | |
Issuance of common stock for compensation (in shares) | 13,021 | 0 | |||||
Issuance of common stock for compensation | $ 13 | 24,987 | 0 | 0 | $ 0 | 25,000 | |
Net income | $ 0 | 0 | 0 | 80,000 | $ 0 | 80,000 | |
Balance (in shares) at Jun. 30, 2022 | 7,820,124 | (33,840) | |||||
Balance at Jun. 30, 2022 | $ 7,820 | 72,751,200 | 535,079 | (70,303,004) | $ (57,847) | 2,933,248 | |
Share-based compensation expense | $ 0 | 16,916 | 0 | 0 | $ 0 | 16,916 | |
Balance (in shares) | 7,820,124 | (33,840) | |||||
Balance (in shares) | 7,840,124 | (143,637) | |||||
Balance (in shares) at Dec. 31, 2022 | 7,840,124 | (143,637) | |||||
Balance at Dec. 31, 2022 | $ 82,180 | $ 7,840 | 72,800,976 | 316,360 | (69,670,404) | $ (164,840) | 3,372,112 |
Foreign currency translation adjustments | 0 | 0 | 0 | (2,296) | 0 | 0 | (2,296) |
Share-based compensation expense | 0 | 0 | 119,100 | 0 | 0 | 0 | 119,100 |
Net income (loss) | 0 | 0 | 0 | 0 | (294,928) | 0 | (294,928) |
Net income | 0 | $ 0 | 0 | 0 | (294,928) | $ 0 | (294,928) |
Balance (in shares) at Mar. 31, 2023 | 8,137,085 | (143,637) | |||||
Balance at Mar. 31, 2023 | 0 | $ 8,137 | 73,275,397 | 314,064 | (69,965,332) | $ (164,840) | 3,467,426 |
Issuance of common stock for accrued bonus (in shares) | 46,961 | 0 | |||||
Issuance of common stock for accrued bonus | (82,180) | $ 47 | 82,133 | 0 | 0 | $ 0 | 0 |
Issuance of common stock for signing bonus (in shares) | 250,000 | 0 | |||||
Issuance of common stock for signing bonus | 0 | $ 250 | 273,188 | 0 | 0 | $ 0 | 273,438 |
Share-based compensation expense | 0 | $ 0 | 119,100 | 0 | 0 | $ 0 | 119,100 |
Balance (in shares) at Dec. 31, 2022 | 7,840,124 | (143,637) | |||||
Balance at Dec. 31, 2022 | 82,180 | $ 7,840 | 72,800,976 | 316,360 | (69,670,404) | $ (164,840) | 3,372,112 |
Foreign currency translation adjustments | 31,476 | ||||||
Net income (loss) | (237,754) | ||||||
Net income | (237,754) | ||||||
Balance (in shares) at Jun. 30, 2023 | 8,154,474 | (143,637) | |||||
Balance at Jun. 30, 2023 | 0 | $ 8,154 | 73,373,030 | 347,836 | (69,908,158) | $ (164,840) | 3,656,022 |
Balance (in shares) | 8,137,085 | (143,637) | |||||
Balance (in shares) at Mar. 31, 2023 | 8,137,085 | (143,637) | |||||
Balance at Mar. 31, 2023 | 0 | $ 8,137 | 73,275,397 | 314,064 | (69,965,332) | $ (164,840) | 3,467,426 |
Foreign currency translation adjustments | 0 | 0 | 0 | 33,772 | 0 | 0 | 33,772 |
Share-based compensation expense | 0 | 0 | 69,238 | 0 | 0 | 0 | 69,238 |
Net income (loss) | 0 | 0 | 0 | 0 | 57,174 | 0 | 57,174 |
Net income | 0 | $ 0 | 0 | 0 | 57,174 | $ 0 | 57,174 |
Balance (in shares) at Jun. 30, 2023 | 8,154,474 | (143,637) | |||||
Balance at Jun. 30, 2023 | 0 | $ 8,154 | 73,373,030 | 347,836 | (69,908,158) | $ (164,840) | 3,656,022 |
Issuance of common stock for signing bonus (in shares) | 13,889 | 0 | |||||
Issuance of common stock for signing bonus | 0 | $ 14 | 24,986 | 0 | 0 | $ 0 | 25,000 |
Share-based compensation expense | 0 | $ 0 | 69,238 | 0 | 0 | $ 0 | 69,238 |
Option exercise (in shares) | 3,500 | 0 | |||||
Option exercise | $ 0 | $ 3 | $ 3,409 | $ 0 | $ 0 | $ 0 | $ 3,412 |
Balance (in shares) | 8,154,474 | (143,637) |
Note 1 - Organization and Signi
Note 1 - Organization and Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Note 1. PAID, Inc. (“PAID”, the “Company”, “we”, “us”, or “our”) has developed a full line of SaaS-based business services including PaidPayments, PaidCart, PaidShipping and PaidWeb. These solutions are developed to provide businesses with a streamlined experience for website creation, online sales, payment collection and shipping all in one PaidWeb offers a robust platform enabling small and medium businesses to launch websites via our catalog of templates. Our platform includes a wide array of features such as mobile editing, search engine optimization, collaboration tools, pre-designed templates, and can be integrated with multiple platforms. PaidCart serves as a comprehensive solution for small and medium businesses looking to expand their online sales through multiple channels. It provides a centralized system to manage sales across various platforms, with additional functionalities for currency and language management, promotional sales, and abandoned cart recovery. PaidPayments and PaidShipping seamlessly interface with PaidCart to facilitate the checkout and shipping processes. Operating as a Payment Facilitator since 2019, ShipTime Canada Inc. (“ShipTime”) has developed a SaaS-based application, which focuses on the small and medium business segments. This offering allows members to quote, process, generate labels, dispatch and track courier and LTL shipments all from a single interface. The application provides customers with a choice of today’s leading couriers and freight carriers all with discounted pricing allowing members to save on every shipment. ShipTime can also be integrated into on-line shopping carts to facilitate sales via e-commerce. We actively sell directly to small and medium businesses and through long standing partnerships with selected associations throughout Canada. AuctionInc, which is a suite of online shipping and tax management tools assisting businesses with e-commerce storefronts, shipping solutions, tax calculation, and auction processing. The product has tools to assist with other aspects of the fulfillment process, but the main purpose of the product is to provide accurate shipping and tax calculations and packaging algorithms that provide customers with the best possible shipping and tax solutions. Paid also offers BeerRun Software which is a brewery management and Alcohol and Tobacco Tax and Trade Bureau tax reporting software. Small craft brewers can utilize the product to manage brewery schedules, inventory, packaging, sales and purchasing. Tax reporting can be processed with a single click and is fully customizable by state or province. General Presentation and Basis of Condensed Consolidated Financial Statements The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), and with the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, they do not 10 December 31, 2022 March 31, 2023. In the opinion of management, the Company has prepared the accompanying unaudited condensed consolidated financial statements on the same basis as its audited consolidated financial statements, and these unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments necessary for a fair presentation of the results of the interim periods presented. The operating results for the interim periods presented are not 2023. Liquidity and Management s Plans At June 30, 2023, six June 30, 2023. six June 30, 2023 June 30, 2023. Management believes that the Company has adequate cash resources to fund operations during the next 12 10 no Although there can be no August 2024 Principles of Consolidation The condensed consolidated financial statements include the accounts of PAID, Inc. and its wholly owned subsidiaries, PAID Run, LLC and ShipTime Canada, Inc. All intercompany accounts and transactions have been eliminated. Foreign Currency The currency of ShipTime, the Company’s international subsidiary, is in Canadian dollars. Foreign currency denominated assets and liabilities are translated into U.S. dollars using the exchange rates in effect at June 30, 2023 December 31, 2022. Geographic Concentrations The Company conducts business in the U.S. and Canada. For customers headquartered in their respective countries, the Company derived approximately 99% of its revenues from Canada and 1% from the U.S. during the three six June 30, 2023 2022. At June 30, 2023, Right of Use Assets A right-of-use asset represents a lessee’s right to use a leased asset for the term of the lease. Our right-of-use assets generally consist of an operating lease for a building. Right-of-use assets are measured initially at the present value of the lease payments, plus any lease payments made before a lease began and any initial direct costs, such as commissions paid to obtain a lease. Right-of-use assets are subsequently measured at the present value of the remaining lease payments, adjusted for incentives, prepaid or accrued rent, and any initial direct costs not Long-Lived Assets The Company reviews the carrying values of its long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount may not No three six June 30, 2023 2022. no not Revenue Recognition The Company generates revenue principally from fees for coordinating shipping services, sales of shipping calculator subscriptions, brewery management software subscriptions, merchant processing services and client services. The Company recognizes revenue by taking into consideration the following five 1 2 3 4 5 not Nature of Goods and Services For label generation service revenues, the Company recognizes revenue when a customer has successfully prepared a shipping label and scheduled a pickup. Customers with pickups after the end of the reporting period are recorded as contract liabilities on the condensed consolidated balance sheets. The service is offered to consumers via an online registration and allows users to create a shipping label using a credit card on their account (all customers must have a valid credit card on file to process shipments on the ShipTime platform). For shipping calculator revenues and brewery management software revenues, the Company recognizes subscription revenue on a monthly basis. Shipping calculator customers’ renewal dates are based on their date of installation and registration of the shipping calculator line of products. The timing of the revenue recognition and cash collection may first Merchant processing revenue consists of fees a seller pays us to process their payment transactions and is recognized upon authorization of a transaction. Revenue is recognized net of estimated refunds, which are reversals of transactions initiated by sellers. We act as the merchant of record for our sellers, which puts us in their shoes with respect to card networks and puts the risk for refunds and chargebacks on us. The gross transaction fees collected from sellers is recognized as revenue as we are the primary obligor to the seller and are responsible for processing the payment, have latitude in establishing pricing with respect to the sellers and other terms of service, have sole discretion in selecting the third Revenue Disaggregation The Company operates in six reportable segments (see below). Performance Obligations At contract inception, an assessment of the goods and services promised in the contracts with customers is performed and a performance obligation is identified for each distinct promise to transfer to the customer a good or service (or bundle of goods or services). To identify the performance obligations, the Company considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. Revenue is recognized when the performance obligation has been met, which is when the customer has successfully prepared a shipping label and scheduled a pickup for shipping coordination and label generation services. The Company considers control to have transferred at that time because the Company has a present right to payment at that time, the Company has provided the shipping label, and the customer is able to direct the use of, and obtain substantially all of the remaining benefits from the shipping label. For arrangements under which the Company provides a subscription for shipping calculator services and brewery management software, the Company satisfies its performance obligations over the life of the subscription, typically twelve Customers of PaidPayments receive a merchant identification number which allows them to process credit card transactions. Once the transaction is approved, the funds are disbursed in an overnight feed and the Company has met its performance obligation. The Company has no Revenues are recognized net of any taxes collected from customers, which are subsequently remitted to government authorities. Significant Payment Terms Pursuant to the Company’s contracts with its customers, amounts are collected up front primarily through credit/debit card transactions. The Company has offered its customers consolidated payments which are billed weekly and are paid with a credit card on file. Accordingly, the Company determined that its contracts with customers do not Variable Consideration In some cases, the nature of the Company’s contracts may Variable consideration is estimated at the most likely amount that is expected to be earned. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not Revenues are recorded net of variable consideration, such as rebates, refunds, and cancellations. Warranties The Company’s products and services are provided on an “as is” basis and no not Contract Assets Typically, the Company has already collected revenue from the customer at the time it has satisfied its performance obligation. Accordingly, the Company has only a small balance of accounts receivable, totaling $217,174 and $169,074 as of June 30, 2023 December 31, 2022, no 10% June 30, 2023. not Contract Liabilities (Deferred Revenue) Contract liabilities are recorded when cash payments are received in advance of the Company’s performance (including rebates). Contract liabilities were $12,475 and $13,020 at June 30, 2023 December 31, 2022, six June 30, 2023, Income (Loss) Per Common Share Basic earnings (loss) per share represent income (loss) divided by the weighted-average number of common shares outstanding during the period. Diluted income (loss) per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income (loss) that would result from the assumed issuance. The potential common shares that may For the the six June 30, 2023, The following is a reconciliation of the numerators and denominators of the basic and diluted income (loss) per common share computations for the three six June 30, 2023 2022. Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 Numerator: Net income $ 57,174 $ 80,000 Denominator: Basic weighted-average shares outstanding 8,008,312 7,775,266 Effect of dilutive securities 4,983 25,996 Diluted weighted-average shares outstanding 8,013,295 7,801,262 Basic income per common share $ 0.01 $ 0.01 Diluted income per common share $ 0.01 $ 0.01 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Numerator: Net income (loss) $ (237,754 ) $ 19,546 Denominator: Basic weighted-average shares outstanding 7,866,386 7,774,270 Effect of dilutive securities - 29,874 Diluted weighted-average shares outstanding 7,866,386 7,804,144 Basic income (loss) per share $ (0.03 ) $ - Diluted income (loss) per share $ (0.03 ) $ - Segment Reporting The Company reports information about segments of its business in its annual consolidated financial statements and reports selected segment information in its quarterly reports issued to shareholders. The Company also reports on its entity-wide disclosures about the products and services it provides and reports revenues and its major customers. The Company’s six reportable segments are managed separately based on fundamental differences in their operations. At June 30, 2023, a. Client services; b. Shipping calculator services; c. Brewery management software; d. Merchant processing services; e. Shipping coordination and label generation services; and f. Corporate operations The Company evaluates performance and allocates resources based upon operating income. The accounting policies of the reportable segments are the same as those described in this summary of significant accounting policies. The Company’s chief operating decision maker is the Chief Executive Officer/Chief Financial Officer. The following table compares total revenue for the periods indicated. Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Client services $ 28 $ 477 $ 66 $ 757 Shipping calculator services 516 987 1,168 6,531 Brewery management software 8,275 8,356 16,250 17,731 Merchant processing services 15,375 4,445 40,218 16,498 Shipping coordination and label generation services 4,106,187 4,521,400 7,878,954 8,103,849 Total revenues $ 4,130,381 $ 4,535,665 $ 7,936,656 $ 8,145,366 The following table compares total income (loss) from operations for the periods indicated. Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Client services $ 28 $ 365 $ 66 $ 645 Shipping calculator services (391 ) (1,076 ) (736 ) 2,489 Brewery management software 4,348 (19,323 ) 6,773 (24,066 ) Merchant processing services 4,937 (4,060 ) 10,696 (21 ) Shipping coordination and label generation services (54,978 ) 214,784 (352,735 ) 181,143 Corporate operations (21,314 ) (31,601 ) (150,962 ) (60,655 ) Total income (loss) from operations $ (67,370 ) $ 159,089 $ (486,898 ) $ 99,535 Subsequent Events On July 25, 2023, July 19, 2023 not 2 nine Recent Accounting Pronouncements In September 2016, No. 2016 13, 326 2016 13” 2016 13, December 15, 2022. 2016 13 January 1, 2023. June 30, 2023, no one no not June 30, 2023, no no |
Note 2 - Notes Receivable
Note 2 - Notes Receivable | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 2. On October 13, 2022, 9 six June 30, 2023. 5 first October 19, 2022. five July 19, 2023 July 25, 2023 1 |
Note 3 - Accrued Expenses
Note 3 - Accrued Expenses | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 3. Accrued expenses are comprised of the following: June 30, 2023 (unaudited) December 31, 2022 Payroll and related costs $ 148,271 $ 195,803 Professional and consulting - 3,685 Royalties 40,075 40,075 Accrued cost of revenues 190,064 168,657 Sales tax 22,228 22,228 Other 410 410 Total $ 401,048 $ 430,858 |
Note 4 - Intangible Assets
Note 4 - Intangible Assets | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 4. The Company holds several patents for the real-time calculation of shipping costs for items purchased through online auctions using a zip code as a destination location indicator. It includes shipping charge calculations across multiple carriers and accounts for additional characteristics of the item being shipped, such as weight, special packaging or handling, and insurance costs. These patents help facilitate rapid and accurate estimation of shipping costs across multiple shipping carriers and also include real-time calculation of shipping. In addition, the Company has various other intangibles from past business combinations. At June 30, 2023, Patents Trade Name Technology & Software Customer Relationships Total Gross carrying amount $ 16,000 $ 809,158 $ 600,515 $ 4,756,005 $ 6,181,678 Accumulated amortization (16,000 ) (809,158 ) (600,515 ) (2,176,790 ) (3,602,463 ) $ - $ - $ - $ 2,579,215 $ 2,579,215 At December 31, 2022, Patents Trade Name Technology & Software Customer Relationships Total Gross carrying amount $ 16,000 $ 789,212 $ 587,776 $ 4,644,033 $ 6,037,021 Accumulated amortization (16,000 ) (789,212 ) (587,776 ) (1,980,722 ) (3,373,710 ) $ - $ - $ - $ 2,663,311 $ 2,663,311 Amortization expense of intangible assets for the three June 30, 2023 2022 six June 30, 2023 2022 |
Note 5 - Commitments and Contin
Note 5 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 5. Legal Matters In the normal course of business, the Company periodically becomes involved in litigation and disputes. During 2021, February 2020, not five 2021, July 2022, March 2021. not Indemnities and Guarantees The Company has made certain indemnities and guarantees, under which it may not not no |
Note 6 - Shareholders' Equity
Note 6 - Shareholders' Equity | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-Based Payments [Text Block] | Note 6. Equity Preferred Stock The Company’s amended Certificate of Incorporation authorizes the issuance of 20,000,000 shares of blank-check preferred stock at $0.001 par value. The Board of Directors will be authorized to fix the designations, rights, preferences, powers and limitations of each series of the preferred stock. The Company filed a Certificate of Designations effective on December 30, 2016, 30 no may June 30, 2023 December 31, 2022, Common Stock In February 2020, one one one 2020, two June 30, 2023 On March 21, 2023, one one 2022. March 20, 2023 March 2023. December 31, 2022. 2023 January 1, 2024. three six June 30, 2023 On March 21, 2023, March 31, 2023 April 10, 2023. three June 30, 2023 second 2022, one three six June 30, 2022. 4 2 506 Share-based Incentive Plans On March 23, 2018, 2018 three November 10, 2020, 2018 For the three six June 30, 2023, 2023 three six June 30, 2022, 2022 On May 12, 2023, one one |
Note 7 - Leases
Note 7 - Leases | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases and Finance Lease [Text Block] | Note 7. We have operating leases for our corporate offices in Canada. Our leases have remaining lease terms of one two four not We report operating leased assets, as well as operating lease current and noncurrent obligations on our balance sheets for the right to use the building in our business. The components of lease expense were as follows: Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 Operating lease cost $ 9,508 $ 10,015 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Operating lease cost $ 18,959 $ 20,108 Supplemental cash flow information related to leases was as follows: Six Months Ended Six Months Ended Cash paid for amounts included in leases: Operating cash flows from operating leases $ 19,522 $ 20,704 Supplemental balance sheet information related to leases was as follows: June 30, 2023 December 31, 2022 Operating leases: Operating lease right-of-use assets $ 5,058 $ 23,063 Current portion of operating lease obligations $ 3,601 $ 22,199 Operating lease obligations, net of current portion - - Total operating lease liabilities $ 3,601 $ 22,199 June 30, 2023 December 31, 2022 Weighted Average Remaining Lease Term Operating lease (in years) 0.1 0.6 Weighted Average Discount Rate Operating lease 9.0 % 9.0 % A summary of future minimum payments under non-cancellable operating lease commitment as of June 30, 2023 Years ending December 31, Total 2023 (remainder of year) 4,548 Total lease liabilities $ 4,548 Less amount representing interest (947 ) Total 3,601 Less current portion (3,601 ) $ - |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | General Presentation and Basis of Condensed Consolidated Financial Statements The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), and with the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, they do not 10 December 31, 2022 March 31, 2023. In the opinion of management, the Company has prepared the accompanying unaudited condensed consolidated financial statements on the same basis as its audited consolidated financial statements, and these unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments necessary for a fair presentation of the results of the interim periods presented. The operating results for the interim periods presented are not 2023. |
Liquidity and Management’s Plans, Policy [Policy Text Block] | Liquidity and Management s Plans At June 30, 2023, six June 30, 2023. six June 30, 2023 June 30, 2023. Management believes that the Company has adequate cash resources to fund operations during the next 12 10 no Although there can be no August 2024 |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The condensed consolidated financial statements include the accounts of PAID, Inc. and its wholly owned subsidiaries, PAID Run, LLC and ShipTime Canada, Inc. All intercompany accounts and transactions have been eliminated. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency The currency of ShipTime, the Company’s international subsidiary, is in Canadian dollars. Foreign currency denominated assets and liabilities are translated into U.S. dollars using the exchange rates in effect at June 30, 2023 December 31, 2022. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Geographic Concentrations The Company conducts business in the U.S. and Canada. For customers headquartered in their respective countries, the Company derived approximately 99% of its revenues from Canada and 1% from the U.S. during the three six June 30, 2023 2022. At June 30, 2023, |
Lessee, Leases [Policy Text Block] | Right of Use Assets A right-of-use asset represents a lessee’s right to use a leased asset for the term of the lease. Our right-of-use assets generally consist of an operating lease for a building. Right-of-use assets are measured initially at the present value of the lease payments, plus any lease payments made before a lease began and any initial direct costs, such as commissions paid to obtain a lease. Right-of-use assets are subsequently measured at the present value of the remaining lease payments, adjusted for incentives, prepaid or accrued rent, and any initial direct costs not |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-Lived Assets The Company reviews the carrying values of its long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount may not No three six June 30, 2023 2022. no not |
Revenue [Policy Text Block] | Revenue Recognition The Company generates revenue principally from fees for coordinating shipping services, sales of shipping calculator subscriptions, brewery management software subscriptions, merchant processing services and client services. The Company recognizes revenue by taking into consideration the following five 1 2 3 4 5 not Nature of Goods and Services For label generation service revenues, the Company recognizes revenue when a customer has successfully prepared a shipping label and scheduled a pickup. Customers with pickups after the end of the reporting period are recorded as contract liabilities on the condensed consolidated balance sheets. The service is offered to consumers via an online registration and allows users to create a shipping label using a credit card on their account (all customers must have a valid credit card on file to process shipments on the ShipTime platform). For shipping calculator revenues and brewery management software revenues, the Company recognizes subscription revenue on a monthly basis. Shipping calculator customers’ renewal dates are based on their date of installation and registration of the shipping calculator line of products. The timing of the revenue recognition and cash collection may first Merchant processing revenue consists of fees a seller pays us to process their payment transactions and is recognized upon authorization of a transaction. Revenue is recognized net of estimated refunds, which are reversals of transactions initiated by sellers. We act as the merchant of record for our sellers, which puts us in their shoes with respect to card networks and puts the risk for refunds and chargebacks on us. The gross transaction fees collected from sellers is recognized as revenue as we are the primary obligor to the seller and are responsible for processing the payment, have latitude in establishing pricing with respect to the sellers and other terms of service, have sole discretion in selecting the third Revenue Disaggregation The Company operates in six reportable segments (see below). Performance Obligations At contract inception, an assessment of the goods and services promised in the contracts with customers is performed and a performance obligation is identified for each distinct promise to transfer to the customer a good or service (or bundle of goods or services). To identify the performance obligations, the Company considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. Revenue is recognized when the performance obligation has been met, which is when the customer has successfully prepared a shipping label and scheduled a pickup for shipping coordination and label generation services. The Company considers control to have transferred at that time because the Company has a present right to payment at that time, the Company has provided the shipping label, and the customer is able to direct the use of, and obtain substantially all of the remaining benefits from the shipping label. For arrangements under which the Company provides a subscription for shipping calculator services and brewery management software, the Company satisfies its performance obligations over the life of the subscription, typically twelve Customers of PaidPayments receive a merchant identification number which allows them to process credit card transactions. Once the transaction is approved, the funds are disbursed in an overnight feed and the Company has met its performance obligation. The Company has no Revenues are recognized net of any taxes collected from customers, which are subsequently remitted to government authorities. Significant Payment Terms Pursuant to the Company’s contracts with its customers, amounts are collected up front primarily through credit/debit card transactions. The Company has offered its customers consolidated payments which are billed weekly and are paid with a credit card on file. Accordingly, the Company determined that its contracts with customers do not Variable Consideration In some cases, the nature of the Company’s contracts may Variable consideration is estimated at the most likely amount that is expected to be earned. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not Revenues are recorded net of variable consideration, such as rebates, refunds, and cancellations. Warranties The Company’s products and services are provided on an “as is” basis and no not Contract Assets Typically, the Company has already collected revenue from the customer at the time it has satisfied its performance obligation. Accordingly, the Company has only a small balance of accounts receivable, totaling $217,174 and $169,074 as of June 30, 2023 December 31, 2022, no 10% June 30, 2023. not Contract Liabilities (Deferred Revenue) Contract liabilities are recorded when cash payments are received in advance of the Company’s performance (including rebates). Contract liabilities were $12,475 and $13,020 at June 30, 2023 December 31, 2022, six June 30, 2023, |
Earnings Per Share, Policy [Policy Text Block] | Income (Loss) Per Common Share Basic earnings (loss) per share represent income (loss) divided by the weighted-average number of common shares outstanding during the period. Diluted income (loss) per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income (loss) that would result from the assumed issuance. The potential common shares that may For the the six June 30, 2023, The following is a reconciliation of the numerators and denominators of the basic and diluted income (loss) per common share computations for the three six June 30, 2023 2022. Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 Numerator: Net income $ 57,174 $ 80,000 Denominator: Basic weighted-average shares outstanding 8,008,312 7,775,266 Effect of dilutive securities 4,983 25,996 Diluted weighted-average shares outstanding 8,013,295 7,801,262 Basic income per common share $ 0.01 $ 0.01 Diluted income per common share $ 0.01 $ 0.01 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Numerator: Net income (loss) $ (237,754 ) $ 19,546 Denominator: Basic weighted-average shares outstanding 7,866,386 7,774,270 Effect of dilutive securities - 29,874 Diluted weighted-average shares outstanding 7,866,386 7,804,144 Basic income (loss) per share $ (0.03 ) $ - Diluted income (loss) per share $ (0.03 ) $ - |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting The Company reports information about segments of its business in its annual consolidated financial statements and reports selected segment information in its quarterly reports issued to shareholders. The Company also reports on its entity-wide disclosures about the products and services it provides and reports revenues and its major customers. The Company’s six reportable segments are managed separately based on fundamental differences in their operations. At June 30, 2023, a. Client services; b. Shipping calculator services; c. Brewery management software; d. Merchant processing services; e. Shipping coordination and label generation services; and f. Corporate operations The Company evaluates performance and allocates resources based upon operating income. The accounting policies of the reportable segments are the same as those described in this summary of significant accounting policies. The Company’s chief operating decision maker is the Chief Executive Officer/Chief Financial Officer. The following table compares total revenue for the periods indicated. Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Client services $ 28 $ 477 $ 66 $ 757 Shipping calculator services 516 987 1,168 6,531 Brewery management software 8,275 8,356 16,250 17,731 Merchant processing services 15,375 4,445 40,218 16,498 Shipping coordination and label generation services 4,106,187 4,521,400 7,878,954 8,103,849 Total revenues $ 4,130,381 $ 4,535,665 $ 7,936,656 $ 8,145,366 The following table compares total income (loss) from operations for the periods indicated. Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Client services $ 28 $ 365 $ 66 $ 645 Shipping calculator services (391 ) (1,076 ) (736 ) 2,489 Brewery management software 4,348 (19,323 ) 6,773 (24,066 ) Merchant processing services 4,937 (4,060 ) 10,696 (21 ) Shipping coordination and label generation services (54,978 ) 214,784 (352,735 ) 181,143 Corporate operations (21,314 ) (31,601 ) (150,962 ) (60,655 ) Total income (loss) from operations $ (67,370 ) $ 159,089 $ (486,898 ) $ 99,535 |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events On July 25, 2023, July 19, 2023 not 2 nine |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In September 2016, No. 2016 13, 326 2016 13” 2016 13, December 15, 2022. 2016 13 January 1, 2023. June 30, 2023, no one no not June 30, 2023, no no |
Note 1 - Organization and Sig_2
Note 1 - Organization and Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 Numerator: Net income $ 57,174 $ 80,000 Denominator: Basic weighted-average shares outstanding 8,008,312 7,775,266 Effect of dilutive securities 4,983 25,996 Diluted weighted-average shares outstanding 8,013,295 7,801,262 Basic income per common share $ 0.01 $ 0.01 Diluted income per common share $ 0.01 $ 0.01 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Numerator: Net income (loss) $ (237,754 ) $ 19,546 Denominator: Basic weighted-average shares outstanding 7,866,386 7,774,270 Effect of dilutive securities - 29,874 Diluted weighted-average shares outstanding 7,866,386 7,804,144 Basic income (loss) per share $ (0.03 ) $ - Diluted income (loss) per share $ (0.03 ) $ - |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Client services $ 28 $ 477 $ 66 $ 757 Shipping calculator services 516 987 1,168 6,531 Brewery management software 8,275 8,356 16,250 17,731 Merchant processing services 15,375 4,445 40,218 16,498 Shipping coordination and label generation services 4,106,187 4,521,400 7,878,954 8,103,849 Total revenues $ 4,130,381 $ 4,535,665 $ 7,936,656 $ 8,145,366 Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Client services $ 28 $ 365 $ 66 $ 645 Shipping calculator services (391 ) (1,076 ) (736 ) 2,489 Brewery management software 4,348 (19,323 ) 6,773 (24,066 ) Merchant processing services 4,937 (4,060 ) 10,696 (21 ) Shipping coordination and label generation services (54,978 ) 214,784 (352,735 ) 181,143 Corporate operations (21,314 ) (31,601 ) (150,962 ) (60,655 ) Total income (loss) from operations $ (67,370 ) $ 159,089 $ (486,898 ) $ 99,535 |
Note 3 - Accrued Expenses (Tabl
Note 3 - Accrued Expenses (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, 2023 (unaudited) December 31, 2022 Payroll and related costs $ 148,271 $ 195,803 Professional and consulting - 3,685 Royalties 40,075 40,075 Accrued cost of revenues 190,064 168,657 Sales tax 22,228 22,228 Other 410 410 Total $ 401,048 $ 430,858 |
Note 4 - Intangible Assets (Tab
Note 4 - Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Patents Trade Name Technology & Software Customer Relationships Total Gross carrying amount $ 16,000 $ 809,158 $ 600,515 $ 4,756,005 $ 6,181,678 Accumulated amortization (16,000 ) (809,158 ) (600,515 ) (2,176,790 ) (3,602,463 ) $ - $ - $ - $ 2,579,215 $ 2,579,215 Patents Trade Name Technology & Software Customer Relationships Total Gross carrying amount $ 16,000 $ 789,212 $ 587,776 $ 4,644,033 $ 6,037,021 Accumulated amortization (16,000 ) (789,212 ) (587,776 ) (1,980,722 ) (3,373,710 ) $ - $ - $ - $ 2,663,311 $ 2,663,311 |
Note 7 - Leases (Tables)
Note 7 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 Operating lease cost $ 9,508 $ 10,015 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Operating lease cost $ 18,959 $ 20,108 |
Cash Flow, Leases, Lessee [Table Text Block] | Six Months Ended Six Months Ended Cash paid for amounts included in leases: Operating cash flows from operating leases $ 19,522 $ 20,704 |
Balance Sheet, Leases, Lessee [Table Text Block] | June 30, 2023 December 31, 2022 Operating leases: Operating lease right-of-use assets $ 5,058 $ 23,063 Current portion of operating lease obligations $ 3,601 $ 22,199 Operating lease obligations, net of current portion - - Total operating lease liabilities $ 3,601 $ 22,199 |
Weighted Average Remaining Lease Term and Discount Rate [Table Text Block] | June 30, 2023 December 31, 2022 Weighted Average Remaining Lease Term Operating lease (in years) 0.1 0.6 Weighted Average Discount Rate Operating lease 9.0 % 9.0 % |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Years ending December 31, Total 2023 (remainder of year) 4,548 Total lease liabilities $ 4,548 Less amount representing interest (947 ) Total 3,601 Less current portion (3,601 ) $ - |
Note 1 - Organization and Sig_3
Note 1 - Organization and Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jul. 25, 2023 | Dec. 31, 2022 | |
Cash and Cash Equivalents, at Carrying Value | $ 1,900,723 | $ 1,900,723 | $ 1,787,248 | |||
Net Working Capital | 2,052,199 | 2,052,199 | ||||
Net Cash Provided by (Used in) Operating Activities | 79,502 | $ 427,973 | ||||
Operating Income (Loss) | (67,370) | $ 159,089 | (486,898) | $ 99,535 | ||
Retained Earnings (Accumulated Deficit) | (69,908,158) | $ (69,908,158) | (69,670,404) | |||
Number of Reportable Segments | 6 | |||||
Accounts Receivable, after Allowance for Credit Loss, Current | 217,174 | $ 217,174 | 169,074 | |||
Contract with Customer, Liability | 12,475 | 12,475 | 13,020 | |||
Contract with Customer, Liability, Revenue Recognized | $ 13,020 | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 6,400 | |||||
Financing Receivable, after Allowance for Credit Loss, Current | $ 1,854,167 | $ 1,854,167 | $ 1,604,167 | |||
Embolx [Member] | Subsequent Event [Member] | ||||||
Note Receivable, Increase in Face Value, Percentage | 20% | |||||
Note Receivable, Over Allotment Option | $ 500,000 | |||||
Note Receivable, Purchase Discount | 25% | |||||
Notes Receivable, Liquidation Preference on Face Value | 2.75 | |||||
CANADA | ||||||
Property and Equipment Net Percentages | 100% | 100% | ||||
CANADA | Revenue from Contract with Customer Benchmark [Member] | Customer Concentration Risk [Member] | ||||||
Concentration Risk, Percentage | 99% | 99% | ||||
UNITED STATES | Revenue from Contract with Customer Benchmark [Member] | Customer Concentration Risk [Member] | ||||||
Concentration Risk, Percentage | 1% | 1% |
Note 1 - Organization and Sig_4
Note 1 - Organization and Significant Accounting Policies - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Net income | $ 57,174 | $ 80,000 | $ (237,754) | $ 19,546 |
Weighted average number of common shares outstanding - basic (in shares) | 8,008,312 | 7,775,266 | 7,866,386 | 7,774,270 |
Effect of dilutive securities (in shares) | 4,983 | 25,996 | 0 | 29,874 |
Diluted weighted-average shares outstanding (in shares) | 8,013,295 | 7,801,262 | 7,866,386 | 7,804,144 |
Basic income per common share (in dollars per share) | $ 0.01 | $ 0.01 | $ (0.03) | $ 0 |
Diluted income per common share (in dollars per share) | $ 0.01 | $ 0.01 | $ (0.03) | $ 0 |
Note 1 - Organization and Sig_5
Note 1 - Organization and Significant Accounting Policies - Schedule of Segment Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Revenues, net | $ 4,130,381 | $ 4,535,665 | $ 7,936,656 | $ 8,145,366 |
Operating income loss | (67,370) | 159,089 | (486,898) | 99,535 |
Service [Member] | ||||
Revenues, net | 28 | 477 | 66 | 757 |
Operating income loss | 28 | 365 | 66 | 645 |
Shipping Calculator Services [Member] | ||||
Revenues, net | 516 | 987 | 1,168 | 6,531 |
Operating income loss | (391) | (1,076) | (736) | 2,489 |
Brewery Management Software [Member] | ||||
Revenues, net | 8,275 | 8,356 | 16,250 | 17,731 |
Operating income loss | 4,348 | (19,323) | 6,773 | (24,066) |
Merchant Processing Services [Member] | ||||
Revenues, net | 15,375 | 4,445 | 40,218 | 16,498 |
Operating income loss | 4,937 | (4,060) | 10,696 | (21) |
Shipping Coordination and Label Generation Services [Member] | ||||
Revenues, net | 4,106,187 | 4,521,400 | 7,878,954 | 8,103,849 |
Operating income loss | (54,978) | 214,784 | (352,735) | 181,143 |
Corporate Operations [Member] | ||||
Operating income loss | $ (21,314) | $ (31,601) | $ (150,962) | $ (60,655) |
Note 2 - Notes Receivable (Deta
Note 2 - Notes Receivable (Details Textual) - USD ($) | Oct. 13, 2022 | Oct. 31, 2022 |
Warrant [Member] | ||
Investment, Expiration Term (Year) | 5 years | |
Investment, Purchase Price, Percentage of Original Principal | 50% | |
Securities Purchase Agreement [Member] | ||
Financing Receivable, after Allowance for Credit Loss, Total | $ 1,875,000 | |
Note Receivable, Purchase Discount | 20% | |
Financing Receivable, Unamortized Purchase Premium (Discount) | $ (375,000) | |
Financing Receivable, Term (Month) | 9 months | |
Financing Receivable, Interest Rate, Stated Percentage | 20% | |
Investment Income, Amortization of Discount | $ 250,000 | |
Note Receivable, Potential Investment Amount | 2,000,000 | |
Note Receivable, Over Allotment Option | $ 500,000 |
Note 3 - Accrued Expenses - Sch
Note 3 - Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Payroll and related costs | $ 148,271 | $ 195,803 |
Professional and consulting | 0 | 3,685 |
Royalties | 40,075 | 40,075 |
Accrued cost of revenues | 190,064 | 168,657 |
Sales tax | 22,228 | 22,228 |
Other | 410 | 410 |
Total | $ 401,048 | $ 430,858 |
Note 4 - Intangible Assets (Det
Note 4 - Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Amortization of Intangible Assets | $ 74,514 | $ 78,472 | $ 148,580 | $ 160,511 |
Note 4 - Intangible Assets - Sc
Note 4 - Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Intangible asset, gross | $ 6,181,678 | $ 6,037,021 |
Accumulated amortizatio | (3,602,463) | (3,373,710) |
Finite-Lived Intangible Assets, Net | 2,579,215 | 2,663,311 |
Patents [Member] | ||
Intangible asset, gross | 16,000 | 16,000 |
Accumulated amortizatio | (16,000) | (16,000) |
Finite-Lived Intangible Assets, Net | 0 | 0 |
Trade Names [Member] | ||
Intangible asset, gross | 809,158 | 789,212 |
Accumulated amortizatio | (809,158) | (789,212) |
Finite-Lived Intangible Assets, Net | 0 | 0 |
Technology and Software [Member] | ||
Intangible asset, gross | 600,515 | 587,776 |
Accumulated amortizatio | (600,515) | (587,776) |
Finite-Lived Intangible Assets, Net | 0 | 0 |
Customer Relationships [Member] | ||
Intangible asset, gross | 4,756,005 | 4,644,033 |
Accumulated amortizatio | (2,176,790) | (1,980,722) |
Finite-Lived Intangible Assets, Net | $ 2,579,215 | $ 2,663,311 |
Note 6 - Shareholders' Equity (
Note 6 - Shareholders' Equity (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||||
May 12, 2023 | Mar. 21, 2023 | Mar. 20, 2023 | Mar. 21, 2021 | Jan. 31, 2020 | Feb. 29, 2020 | Feb. 28, 2020 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2020 | Dec. 31, 2022 | Nov. 10, 2020 | Mar. 23, 2018 | Dec. 30, 2016 | |
Preferred Stock, Shares Authorized (in shares) | 20,000,000 | ||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | ||||||||||||||||
Common Stock Shares Exchanged (in shares) | 178,000 | ||||||||||||||||
Stock Issued During Period, Value, Issued for Services | $ 25,000 | ||||||||||||||||
Deferred Compensation Arrangement with Individual, Shares Issued (in shares) | 13,021 | ||||||||||||||||
Share-Based Payment Arrangement, Expense | $ 94,238 | $ 41,916 | $ 486,776 | $ 60,012 | |||||||||||||
Deferred Compensation Arrangement with Individual, Fair Value of Shares Issued | $ 25,000 | ||||||||||||||||
Deferred Compensation Arrangement with Individual, Exercise Price (in dollars per share) | $ 1.92 | ||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 3,500 | ||||||||||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share) | $ 0.975 | ||||||||||||||||
Proceeds from Stock Options Exercised | $ 3,412 | 3,412 | 0 | ||||||||||||||
Non-qualified Stock Option [Member] | Two Thousand Eighteen Stock Option Plan [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 900,000 | 450,000 | |||||||||||||||
Share-Based Payment Arrangement, Option [Member] | |||||||||||||||||
Share-Based Payment Arrangement, Expense | 14,550 | $ 133,650 | 16,916 | $ 35,012 | |||||||||||||
CEO/CFO [Member] | |||||||||||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 46,961 | ||||||||||||||||
Stock Issued During Period, Value, Issued for Services | $ 82,180 | ||||||||||||||||
Share-Based Payment Arrangement, Expense | $ 54,688 | $ 328,126 | |||||||||||||||
Deferred Compensation Arrangement with Individual, Shares Subject to Repurchase (in shares) | 125,000 | 125,000 | |||||||||||||||
Chief Executive Officer [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Shares Issued (in shares) | 250,000 | ||||||||||||||||
Share-Based Payment Arrangement, Expense | $ 437,500 | ||||||||||||||||
Chief Financial Officer [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Shares Issued (in shares) | 125,000 | ||||||||||||||||
Share-Based Payment Arrangement, Expense | $ 218,750 | $ 218,750 | |||||||||||||||
Chief Operating Officer [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Shares Issued (in shares) | 13,889 | ||||||||||||||||
Share-Based Payment Arrangement, Expense | $ 25,000 | ||||||||||||||||
Deferred Compensation Arrangement with Individual, Fair Value of Shares Issued | $ 25,000 | ||||||||||||||||
ShipTime Acquisition [Member] | |||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 5,918 | ||||||||||||||||
Conversion of Series A Preferred Stock to Common Stock [Member] | |||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 1,015,851 | ||||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 1,015,851 | ||||||||||||||||
Additional Conversion of Series A Preferred Stock to Common Stock [Member] | |||||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 2,089,298 | ||||||||||||||||
Series A Preferred Stock [Member] | |||||||||||||||||
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 | 5,000,000 | ||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||||
Preferred Stock, Shares Issued, Total (in shares) | 0 | 0 | 0 | 5,000,000 | |||||||||||||
Percentages of Payment Obligation | 1.50% | ||||||||||||||||
Preferred Stock, Liquidation Preference Per Share (in dollars per share) | $ 3.03 | ||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 0 | 0 | 0 | |||||||||||||
ShipTime Canada Stock [Member] | |||||||||||||||||
Conversion of Stock, Shares, Convertible (in shares) | 1 | ||||||||||||||||
Common Stock Shares Exchanged (in shares) | 500 | ||||||||||||||||
PAID Preferred Stock [Member] | |||||||||||||||||
Conversion of Stock, Shares Issuable (in shares) | 45 | ||||||||||||||||
PAID Common Stock [Member] | |||||||||||||||||
Conversion of Stock, Shares Issuable (in shares) | 311 | 356 | |||||||||||||||
Common Stock Exercised Shares (in shares) | 1,461,078 | ||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 2,106,808 | 2,106,808 | |||||||||||||||
PAID Series A Preferred Stock [Member] | |||||||||||||||||
Preferred Stock Exercised Shares (in shares) | 1,461,078 |
Note 7 - Leases (Details Textua
Note 7 - Leases (Details Textual) | Jun. 30, 2023 |
Lessee, Operating Lease, Renewal Term (Year) | 4 years |
Minimum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Month) | 1 month |
Maximum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Month) | 2 months |
Note 7 - Leases - Schedule of L
Note 7 - Leases - Schedule of Lease Expense (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Operating lease cost | $ 9,508 | $ 10,015 | $ 18,959 | $ 20,108 |
Note 7 - Leases - Schedule of S
Note 7 - Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Operating cash flows from operating leases | $ 19,522 | $ 20,704 |
Note 7 - Leases - Schedule of_2
Note 7 - Leases - Schedule of Supplemental Balance Sheet Information (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Operating lease right-of-use assets | $ 5,058 | $ 23,063 |
Current portion of operating lease obligations | 3,601 | 22,199 |
Operating lease obligations, net of current portion | 0 | 0 |
Total | $ 3,601 | $ 22,199 |
Note 7 - Leases - Schedule of_3
Note 7 - Leases - Schedule of Lease Terms (Details) | Jun. 30, 2023 | Dec. 31, 2022 |
Weighted Average Remaining Lease Term | ||
Operating lease (in years) (Year) | 1 month 6 days | 7 months 6 days |
Weighted Average Discount Rate | ||
Operating lease | 9% | 9% |
Note 7 - Leases -Schedule of Op
Note 7 - Leases -Schedule of Operating Lease Minimum Payments (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
2023 (remainder of year) | $ 4,548 | |
Total lease liabilities | 4,548 | |
Less amount representing interest | (947) | |
Total | 3,601 | $ 22,199 |
Less current portion | $ (3,601) | $ (22,199) |