Cover
Cover - USD ($) | 12 Months Ended | |||
Dec. 31, 2021 | Mar. 22, 2022 | Jun. 30, 2021 | Dec. 31, 2020 | |
Cover [Abstract] | ||||
Entity Central Index Key | 0001495231 | |||
Current Fiscal Year End Date | --12-31 | |||
Document Fiscal Year Focus | 2021 | |||
Amendment Flag | false | |||
Entity Common Stock, Shares Outstanding | 62,176,505 | |||
Document Type | 10-K | |||
Document Annual Report | true | |||
Document Fiscal Period Focus | FY | |||
Document Transition Report | false | |||
Entity File Number | 001-37703 | |||
Entity Registrant Name | IZEA WORLDWIDE, INC. | |||
Entity Incorporation, State or Country Code | NV | |||
Entity Tax Identification Number | 37-1530765 | |||
Entity Address, Address Line One | 1317 Edgewater Dr. | |||
Entity Address, Address Line Two | # 1880 | |||
Entity Address, Address Line Three | ||||
Entity Address, City or Town | Orlando | |||
Entity Address, State or Province | FL | |||
Entity Address, Postal Zip Code | 32804 | |||
City Area Code | (407) | |||
Local Phone Number | 674-6911 | |||
Title of 12(b) Security | Common Stock, par value $0.0001 per share | |||
Trading Symbol | IZEA | |||
Security Exchange Name | NASDAQ | |||
Entity Shell Company | false | |||
Entity Voluntary Filers | No | |||
Entity Public Float | $ 150,963,427 | |||
Entity Interactive Data Current | Yes | |||
Common stock, shares outstanding (shares) | 62,044,883 | 50,050,167 | ||
Entity Emerging Growth Company | false | |||
Document Period End Date | Dec. 31, 2021 | |||
Entity Well-known Seasoned Issuer | No | |||
Entity Small Business | true | |||
Entity Filer Category | Non-accelerated Filer | |||
Entity Current Reporting Status | Yes | |||
ICFR Auditor Attestation Flag | false | |||
Auditor Name | BDO USA, LLPCertified Public Accountants | |||
Auditor Location | Orlando, Florida | |||
Auditor Firm ID | 243 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 75,433,295 | $ 33,045,225 |
Accounts receivable, net | 7,599,103 | 5,207,205 |
Prepaid expenses | 2,257,382 | 226,559 |
Other current assets | 100,522 | 74,467 |
Total current assets | 85,390,302 | 38,553,456 |
Property and equipment, net | 155,185 | 230,918 |
Goodwill | 4,016,722 | 4,016,722 |
Intangible assets, net | 213,263 | 505,556 |
Software development costs, net | 1,019,600 | 1,472,684 |
Total assets | 90,795,072 | 44,779,336 |
Current liabilities: | ||
Accounts payable | 2,086,892 | 2,310,974 |
Accrued expenses | 2,502,882 | 1,924,973 |
Contract liabilities | 11,338,095 | 6,634,870 |
Current portion of notes payable | 0 | 1,477,139 |
Total current liabilities | 15,927,869 | 12,347,956 |
Finance obligation, less current portion | 10,420 | 43,808 |
Liabilities | 15,969,937 | 12,851,147 |
Notes payable, less current portion | 31,648 | 459,383 |
Commitments and Contingencies (Note 8) | 0 | 0 |
Stockholders’ equity: | ||
Preferred stock; $.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Common stock; $.0001 par value; 200,000,000 shares authorized; 62,044,883 and 50,050,167, respectively, issued, and outstanding | 6,205 | 5,005 |
Additional paid-in capital | 148,452,498 | 102,416,131 |
Accumulated deficit | (73,633,568) | (70,492,947) |
Total stockholders’ equity | 74,825,135 | 31,928,189 |
Total liabilities and stockholders’ equity | $ 90,795,072 | $ 44,779,336 |
Consolidated Balance Sheets Par
Consolidated Balance Sheets Parentheticals - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
Parentheticals - Balance Sheet [Abstract] | ||
Preferred stock, par value (per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (shares) | 200,000,000 | 200,000,000 |
Common stock, shares, issued (shares) | 62,044,883 | 50,050,167 |
Common stock, shares outstanding (shares) | 62,044,883 | 50,050,167 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statement [Abstract] | |||||||||||||
Revenue | $ 7,734,374 | $ 6,416,451 | $ 5,528,166 | $ 4,207,554 | $ 3,049,817 | $ 4,324,475 | $ 11,944,617 | $ 7,374,292 | $ 19,678,991 | $ 11,581,846 | $ 30,022,377 | $ 17,967,207 | |
Costs and expenses: | |||||||||||||
Cost of revenue | 4,022,395 | 3,208,690 | 2,457,785 | 1,750,744 | 1,377,799 | 1,988,277 | 5,666,475 | 3,366,076 | 9,688,870 | 5,116,820 | 14,461,702 | 7,896,078 | |
Sales and marketing | 2,240,936 | 2,302,869 | 2,078,323 | 1,403,037 | 1,228,691 | 1,523,143 | 4,381,192 | 2,751,834 | 6,622,128 | 4,154,871 | 8,795,038 | 5,999,671 | |
General and administrative | 2,670,785 | 2,659,578 | 2,535,147 | 1,827,267 | 1,920,492 | 2,417,838 | 5,194,725 | 4,338,330 | 7,865,510 | 6,165,597 | 11,034,246 | 8,611,423 | |
Impairment of goodwill | $ 0 | 4,300,000 | 4,300,000 | 4,300,000 | 0 | 4,300,000 | |||||||
Depreciation and amortization | 220,453 | 363,924 | 365,529 | 372,483 | 377,107 | 501,269 | 729,453 | 878,376 | 949,906 | 1,250,859 | 1,089,118 | 1,652,126 | |
Total costs and expenses | 9,154,569 | 8,535,061 | 7,436,784 | 5,353,531 | 4,904,089 | 10,730,527 | 15,971,845 | 15,634,616 | 25,126,414 | 20,988,147 | 35,380,104 | 28,459,298 | |
Loss from operations | (1,420,195) | (2,118,610) | (1,908,618) | (1,145,977) | (1,854,272) | (6,406,052) | (4,027,228) | (8,260,324) | (5,447,423) | (9,406,301) | (5,357,727) | (10,492,091) | |
Other income (expense): | |||||||||||||
Interest expense | (1,558) | (8,739) | (13,793) | (16,448) | (19,476) | (6,618) | (22,532) | (26,094) | (24,090) | (42,542) | (25,320) | (63,012) | |
Other income, net | 20,961 | 1,968,944 | 29,474 | 30,085 | 33,834 | (37,744) | 1,998,418 | (3,910) | 2,019,379 | 26,175 | 2,242,426 | 46,708 | |
Total other income (expense), net | 19,403 | 1,960,205 | 15,681 | 13,637 | 14,358 | (44,362) | 1,975,886 | (30,004) | 1,995,289 | (16,367) | 2,217,106 | (16,304) | |
Net income (loss) | $ (1,400,792) | $ (158,405) | $ (1,892,937) | $ (1,132,340) | $ (1,839,914) | $ (6,450,414) | $ (2,051,342) | $ (8,290,328) | $ (3,452,134) | $ (9,422,668) | $ (3,140,621) | $ (10,508,395) | |
Weighted average common shares outstanding – basic and diluted | 61,883,017 | 61,386,913 | 56,334,219 | 45,772,638 | 36,108,073 | 34,681,198 | 58,874,526 | 35,394,639 | 59,875,142 | 38,879,218 | 60,407,921 | 41,289,705 | |
Basic and diluted loss per common share | $ (0.02) | $ 0 | $ (0.03) | $ (0.02) | $ (0.05) | $ (0.19) | $ (0.03) | $ (0.23) | $ (0.06) | $ (0.24) | $ (0.05) | $ (0.25) |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity - USD ($) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated deficit | $ (60,000,000) | |||
Balance (shares) at Dec. 31, 2019 | 34,634,172 | |||
Balance at Dec. 31, 2019 | 14,118,240 | $ 3,464 | $ 74,099,328 | $ (59,984,552) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss | (6,450,414) | |||
Balance (shares) at Mar. 31, 2020 | 34,773,051 | |||
Balance at Mar. 31, 2020 | 7,826,321 | $ 3,477 | 74,257,810 | (66,434,966) |
Balance (shares) at Dec. 31, 2019 | 34,634,172 | |||
Balance at Dec. 31, 2019 | 14,118,240 | $ 3,464 | 74,099,328 | (59,984,552) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss | (8,290,328) | |||
Balance (shares) at Jun. 30, 2020 | 41,784,601 | |||
Balance at Jun. 30, 2020 | 21,044,823 | $ 4,178 | 89,315,525 | (68,274,880) |
Balance (shares) at Dec. 31, 2019 | 34,634,172 | |||
Balance at Dec. 31, 2019 | 14,118,240 | $ 3,464 | 74,099,328 | (59,984,552) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss | (9,422,668) | |||
Balance (shares) at Sep. 30, 2020 | 48,331,379 | |||
Balance at Sep. 30, 2020 | 30,207,987 | $ 4,833 | 99,610,374 | (69,407,220) |
Balance (shares) at Dec. 31, 2019 | 34,634,172 | |||
Balance at Dec. 31, 2019 | 14,118,240 | $ 3,464 | 74,099,328 | (59,984,552) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Sale of securities (shares) | 14,819,740 | |||
Sale of securities | 28,455,096 | $ 1,482 | 28,453,614 | |
Stock purchase plan & option exercise issuances (shares) | 15,573 | |||
Stock purchase plan & option exercise issuances | 7,634 | $ 1 | 7,633 | |
Stock issued for payment of services (shares) | 390,625 | |||
Stock issued for payment of services | 125,000 | $ 39 | 124,961 | |
Stock issuance costs | (747,379) | (747,379) | ||
Stock-based compensation (shares) | 190,057 | |||
Stock-based compensation | 477,993 | $ 19 | 477,974 | |
Net loss | (10,508,395) | (10,508,395) | ||
Balance (shares) at Dec. 31, 2020 | 50,050,167 | |||
Balance at Dec. 31, 2020 | 31,928,189 | $ 5,005 | 102,416,131 | (70,492,947) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated deficit | (66,434,966) | |||
Balance (shares) at Mar. 31, 2020 | 34,773,051 | |||
Balance at Mar. 31, 2020 | 7,826,321 | $ 3,477 | 74,257,810 | (66,434,966) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss | (1,839,914) | |||
Balance (shares) at Jun. 30, 2020 | 41,784,601 | |||
Balance at Jun. 30, 2020 | 21,044,823 | $ 4,178 | 89,315,525 | (68,274,880) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated deficit | (68,274,880) | |||
Net loss | (1,132,340) | |||
Balance (shares) at Sep. 30, 2020 | 48,331,379 | |||
Balance at Sep. 30, 2020 | 30,207,987 | $ 4,833 | 99,610,374 | (69,407,220) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated deficit | (69,407,220) | |||
Accumulated deficit | (70,492,947) | |||
Balance (shares) at Dec. 31, 2020 | 50,050,167 | |||
Balance at Dec. 31, 2020 | 31,928,189 | $ 5,005 | 102,416,131 | (70,492,947) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss | (1,892,937) | |||
Balance (shares) at Mar. 31, 2021 | 59,123,449 | |||
Balance at Mar. 31, 2021 | 63,539,557 | $ 5,912 | 135,919,529 | (72,385,884) |
Balance (shares) at Dec. 31, 2020 | 50,050,167 | |||
Balance at Dec. 31, 2020 | 31,928,189 | $ 5,005 | 102,416,131 | (70,492,947) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss | (2,051,342) | |||
Balance (shares) at Jun. 30, 2021 | 61,809,573 | |||
Balance at Jun. 30, 2021 | 75,468,244 | $ 6,181 | 148,006,352 | (72,544,289) |
Balance (shares) at Dec. 31, 2020 | 50,050,167 | |||
Balance at Dec. 31, 2020 | 31,928,189 | $ 5,005 | 102,416,131 | (70,492,947) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss | (3,452,134) | |||
Balance (shares) at Sep. 30, 2021 | 61,903,631 | |||
Balance at Sep. 30, 2021 | 74,290,500 | $ 6,190 | 148,229,391 | (73,945,081) |
Balance (shares) at Dec. 31, 2020 | 50,050,167 | |||
Balance at Dec. 31, 2020 | 31,928,189 | $ 5,005 | 102,416,131 | (70,492,947) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Sale of securities (shares) | 11,186,084 | |||
Sale of securities | 46,544,688 | $ 1,119 | 46,543,569 | |
Stock purchase plan & option exercise issuances (shares) | 190,835 | |||
Stock purchase plan & option exercise issuances | 69,589 | $ 19 | 69,570 | |
Stock issued for payment of services (shares) | 30,324 | |||
Stock issued for payment of services | 147,329 | $ 3 | 147,326 | |
Stock issuance costs | (1,094,929) | (1,094,929) | ||
Stock-based compensation (shares) | 827,530 | |||
Stock-based compensation | 878,739 | $ 83 | 878,656 | |
Share withheld to cover statutory taxes (shares) | (240,057) | |||
Shares withheld to cover statutory taxes | (507,849) | $ (24) | (507,825) | |
Net loss | (3,140,621) | (3,140,621) | ||
Balance (shares) at Dec. 31, 2021 | 62,044,883 | |||
Balance at Dec. 31, 2021 | 74,825,135 | $ 6,205 | 148,452,498 | (73,633,568) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated deficit | (72,385,884) | |||
Balance (shares) at Mar. 31, 2021 | 59,123,449 | |||
Balance at Mar. 31, 2021 | 63,539,557 | $ 5,912 | 135,919,529 | (72,385,884) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss | (158,405) | |||
Balance (shares) at Jun. 30, 2021 | 61,809,573 | |||
Balance at Jun. 30, 2021 | 75,468,244 | $ 6,181 | 148,006,352 | (72,544,289) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated deficit | (72,544,289) | |||
Net loss | (1,400,792) | |||
Balance (shares) at Sep. 30, 2021 | 61,903,631 | |||
Balance at Sep. 30, 2021 | 74,290,500 | $ 6,190 | $ 148,229,391 | $ (73,945,081) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated deficit | (73,945,081) | |||
Accumulated deficit | $ (73,633,568) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | ||
Net loss | $ (3,140,621) | $ (10,508,395) |
Adjustments to reconcile net loss to net cash used for operating activities: | ||
(Gain) on the forgiveness of debt | (1,927,220) | 0 |
Depreciation and amortization | 130,478 | 135,077 |
Amortization of software development costs and other intangible assets | 958,640 | 1,517,049 |
Impairment of goodwill | 0 | 4,300,000 |
(Gain) on sale of digital assets | (189,307) | 0 |
Impairment of digital assets | 3,412 | 0 |
(Gain) on disposal of equipment | (22,022) | (22,598) |
Provision for losses on accounts receivable | 11,250 | 154,576 |
Fair value of stock issued for payment of services | 147,329 | 125,000 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (2,403,148) | 234,938 |
Prepaid expenses and other current assets | (2,090,798) | 155,866 |
Security deposits | 0 | 151,803 |
Accounts payable | (224,083) | (329,041) |
Accrued expenses | 597,127 | 543,768 |
Contract liabilities | 4,703,225 | 944,289 |
Right-of-use asset and lease liability, net | 0 | 24,024 |
Net cash used for operating activities | (2,566,999) | (2,095,651) |
Purchase of digital assets | 223,228 | 0 |
Cash flows from investing activities: | ||
Purchase of equipment | (63,046) | (19,797) |
Proceeds from sale of equipment | 30,324 | 29,183 |
Proceeds from the sale of digital assets | (216,675) | 0 |
Software development costs | 0 | (363,793) |
Net cash used for investing activities | (26,169) | (354,407) |
Cash flows from financing activities: | ||
Proceeds from sale of securities | 46,544,688 | 28,455,096 |
Proceeds from stock purchase plan and option exercise issuances | 69,589 | 7,634 |
Proceeds from notes payable | 0 | 1,936,522 |
Payments on finance obligation | (30,261) | |
Stock issuance costs | 1,094,929 | 747,379 |
Payments on shares withheld for statutory taxes | (507,849) | 0 |
Net cash provided by financing activities | 44,981,238 | 29,610,654 |
Net increase in cash and cash equivalents | 42,388,070 | 27,160,596 |
Cash and cash equivalents, beginning of period | 33,045,225 | 5,884,629 |
Cash and cash equivalents, end of period | 75,433,295 | 33,045,225 |
Supplemental cash flow information: | ||
Interest paid | 9,968 | 47,290 |
Non-cash financing and investing activities: | ||
Equipment acquired with financing arrangement | 0 | 43,003 |
PPP loan forgiveness | 1,927,220 | 0 |
Fair value of common stock issued for future services | 147,329 | 125,000 |
Share-based Payment Arrangement, Expense | $ 878,739 | $ 477,993 |
Company and Summary of Signific
Company and Summary of Significant Accounting Policies (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Business IZEA Worldwide, Inc. (together with its wholly-owned subsidiaries, “we,” “us,” “our,” “IZEA” or the “Company”) is a Nevada corporation that was founded in February 2006 under the name PayPerPost, Inc. and became a public company in May 2011. In January 2015, IZEA purchased all of the outstanding shares of capital stock of Ebyline, Inc. (“Ebyline”). In March 2016, the Company formed IZEA Canada, Inc., a wholly-owned subsidiary, incorporated in Ontario, Canada, to operate as a sales and support office for IZEA’s Canadian customers. In July 2016, IZEA purchased all the outstanding shares of capital stock of ZenContent, Inc. (“ZenContent”) and in July 2018, a subsidiary of the Company merged with TapInfluence, Inc. (“TapInfluence”). ZenContent, Ebyline, and TapInfluence were merged into IZEA and the legal entities were dissolved in December 2017, December 2019, and December 2020, respectively. The Company creates and operates online marketplaces that connect marketers, including brands, agencies, and publishers, with content creators such as Instagram influencers, TikTok influencers, YouTube stars, designers, photographers, and writers (“creators”). Marketers also engage us to gain access to the Company’s industry expertise, data, and analytics. The Company provides value through managing custom content workflow, creator search and targeting, bidding, analytics, and payment processing. While the majority of the marketers engage the Company to perform these services (the “Managed Services”) on their behalf, they may also use its marketplaces to engage creators for influencer marketing campaigns or to produce custom content on a self-service basis by licensing the Company’s technology. The Company’s primary technology platform, the IZEA Exchange (“ IZEAx ”), is designed to provide a unified ecosystem that enables the creation and publication of multiple types of custom content through its creators’ websites, blogs, and social media channels, including, among others, Twitter, Facebook, YouTube, Twitch, and Instagram. The Company extensively uses this platform to manage influencer marketing campaigns on behalf of the Company’s marketers. This platform is also available directly to the Company’s marketers as a self-service tool and a licensed white label product. IZEAx was engineered from the ground up to replace all of its previous platforms with an integrated offering that is improved and more efficient. Until December 2019 when it was merged into IZEAx , the Company operated the Ebyline technology platform, which was originally designed as a self-service content marketplace to replace in-house editorial newsrooms in news agencies with a “virtual newsroom” to source and handle their content workflow with outside creators. In July 2016, the Company acquired the ZenContent technology platform to use as an in-house workflow tool that enables the Company to produce highly scalable, multi-part production of content for both e-commerce entities and brand customers. The TapInfluence technology platform, acquired in 2018, performed in a similar manner to IZEAx and was being utilized by the majority of the TapInfluence customers as a self-service platform via a licensing arrangement, allowing access to the platform and its creators for self-managed marketing campaigns. After the migration of the last customers to IZEAx from the Ebyline platform in December 2019 and from the TapInfluence platform in February 2020, all marketplace revenue was solely generated from the IZEAx platform until the launch of Shake in November 2020. In 2020, the Company launched two new platforms, BrandGraph and Shake . BrandGraph is a social media intelligence platform that is heavily integrated with IZEAx and both platforms rely heavily on data from each other, but it is also available as a stand-alone platform. The platform maps and classifies the complex hierarchy of corporation-to-brand relationships by category and associates social content with brands through a proprietary content analysis engine. Shake is a new online marketplace where buyers can quickly and easily hire creators of all types for influencer marketing, photography, design, and other digital services. The Shake platform is aimed at digital creatives seeking freelance “gig” work. Creator’s list available “Shakes” on their accounts in the platform and marketers select and purchase creative packages from them through a streamlined chat experience, assisted by ShakeBot - a proprietary, artificial intelligence assistant. Impact of COVID-19 The COVID-19 pandemic impacted the Company’s operations, sales, and finances beginning in 2020. To protect the health and safety of its employees, the Company took precautionary action and directed all staff to work from home effective March 16, 2020. The Company allowed the leases for the Company headquarters and temporary office spaces to expire at the end of their terms throughout 2020. The Company has not experienced any significant declines in operating efficiency in its remote working environment and has decided to continue the work from home policy indefinitely as a virtual-first employer. At the beginning of the pandemic, the Company drew upon a secured credit facility and obtained a loan under the Paycheck Protection Program (“PPP”) established under the CARES Act as administered by the U.S. Small Business Administration (“SBA”) to increase the Company’s cash position and help preserve its financial flexibility. In addition, the Company implemented temporary wage and salary reductions in April 2021. The secured credit facility was paid down by June 30, 2020, and wages and salaries were restored July 2021, after the Company was able to secure additional capital as described in Note 7. The PPP loan was forgiven in full, including accrued interest, in June 2021. Principles of Consolidation The consolidated financial statements include the accounts of IZEA Worldwide, Inc. and its wholly-owned subsidiaries, subsequent to the subsidiaries’ individual acquisition, merger or formation dates, as applicable. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The extent to which COVID-19 impacts the Company’s business and financial results will depend on numerous evolving factors including, but not limited to the magnitude and duration of COVID-19, the extent to which it impacts worldwide macroeconomic conditions, the speed of the anticipated recovery, access to capital markets, and governmental and business reactions to the pandemic. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts of COVID-19 as of December 31, 2021, and through the date of the filing of this Annual Report on Form 10-K. The accounting matters assessed included, but were not limited to estimates related to revenue, the accounting for potential liabilities and accrued expenses, the assumptions utilized in valuing stock-based compensation issued for services, the realization of deferred tax assets, and assessments of impairment related to long-lived assets, intangible assets, and goodwill. The Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in additional material impacts to the Company’s consolidated financial statements in future reporting periods. Despite the Company’s efforts, the ultimate impact of COVID-19 depends on factors beyond the Company’s knowledge or control, including the duration and severity of the outbreak, as well as third-party actions taken to contain its spread and mitigate its public health effects. As a result, the Company is unable to estimate the full extent to which COVID-19 will negatively impact its financial results or liquidity. However, in consideration of the effect of COVID-19 on the assumptions and estimates used in the preparation of the December 31, 2021 financial statements, the Company identified the goodwill impairment disclosed in Note 4 as a material adverse effect on its results of operations and financial position in the first quarter of fiscal 2020 that was caused by COVID-19’s effect on economic conditions. Reclassifications Certain items have been reclassified in 2020 to conform with 2021 financial statement presentation. The Company has reclassified its holdings in digital assets from current assets to intangible assets. The balance was $216,675 and $33,921 at December 31, 2021 and 2020, respectively. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less from the date of purchase to be cash equivalents. Deposits made to Company bank accounts are insured by the FDIC up to a maximum amount of $250,000. Deposit balances exceeding this limit were approximately $74.9 million and $31.4 million as of December 31, 2021, and 2020, respectively. Accounts Receivable and Concentration of Credit Risk The Company’s accounts receivable balance consists of trade receivables, unbilled receivables, and a reserve for doubtful accounts. Trade receivables are customer obligations due under normal trade terms. Unbilled receivables represent amounts owed for work that has been performed, but not yet billed. The Company had net trade receivables of $7,577,177 and unbilled receivables of $21,926 at December 31, 2021. The Company had net trade receivables of $5,148,213 and unbilled receivables of $58,992 at December 31, 2020. Management determines the collectability of accounts by regularly evaluating individual customer receivables and considering a customer’s financial condition, credit history, and current economic conditions. An account is deemed delinquent when the customer has not paid an amount due by its associated due date. If a portion of the account balance is deemed uncollectible, the Company will either write off the amount owed or provide a reserve based on its best estimate of the uncollectible portion of the account. The Company had a reserve for doubtful accounts of $155,000 and $155,000 as of December 31, 2021, and December 31, 2020, respectively. Management believes that this estimate is reasonable, but there can be no assurance that the estimate will not change due to a change in economic conditions or business conditions within the industry, the individual customers, or the Company. Any adjustments to this account are reflected in the consolidated statements of operations as a general and administrative expense. Bad debt expense was less than 0.1% of revenue for each of the twelve months ended December 31, 2021 and 2020. Concentrations of credit risk with respect to accounts receivable have been typically limited because a large number of geographically diverse customers make up the Company’s customer base, thus spreading the trade credit risk. However, with the Company’s addition of SaaS customers, it has increased credit exposure on certain customers who carry significant credit balances related to their marketplace spend. The Company controls credit risk through credit approvals, credit limits, and monitoring procedures. The Company performs credit evaluations of its customers but generally does not require collateral to support accounts receivable. The Company had three customers that accounted for 38% of total accounts receivable at December 31, 2021 and zero customers that accounted for more than 10% at December 31, 2020. The Company had one customer that accounted for 14% of its revenue during the twelve months ended December 31, 2021 and one customer that accounted for 13% of its revenue during the twelve months ended December 31, 2020. Property and Equipment Property and equipment are recorded at cost, or if acquired in a business combination, at the acquisition date fair value. Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows: Computer Equipment 3 years Office Equipment 3 - 10 years Furniture and Fixtures 5 - 10 years The carrying amounts of assets sold or retired and the related accumulated depreciation are eliminated in the year of disposal, with resulting gains or losses included in general and administrative expense in the consolidated statements of operations. Goodwill Goodwill represents the excess of the consideration transferred for an acquired business over the fair value of the underlying identifiable net assets. The Company has goodwill in connection with its acquisitions of Ebyline, ZenContent, and TapInfluence. Goodwill is not amortized but instead, it is tested for impairment at least annually. In the event that management determines that the value of goodwill has become impaired, the Company will record a charge in an amount equal to the excess of the reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit during the fiscal quarter in which the determination is made. The Company performs its annual impairment tests of goodwill as of October 1 of each year, or more frequently, if certain indicators are present. For instance, in March 2020, the Company identified triggering events, including the reduction in its projected revenue due to adverse economic conditions caused by the COVID-19 pandemic, the continuation of a market capitalization below the Company’s carrying value, and uncertainty for recovery given the volatility of the capital markets surrounding COVID-19. Therefore, the Company performed an interim assessment of goodwill, as described in Note 4. Goodwill is required to be tested for impairment at the reporting unit level. A reporting unit is an operating segment or one level below the operating segment level, which is referred to as a component. Management identifies its reporting units by assessing whether components (i) have discrete financial information available, (ii) engage in business activities, and (iii) whether a segment manager regularly reviews the component’s operating results. Net assets and goodwill of acquired businesses are allocated to the reporting unit associated with the acquired business based on the anticipated organizational structure of the combined entities. If two or more components are deemed economically similar, those components are aggregated into one reporting unit when performing the annual goodwill impairment review. The Company had one reporting unit as of December 31, 2021. Intangible Assets The Company acquired the majority of its intangible assets through its acquisitions of Ebyline, ZenContent, and TapInfluence. The Company amortized the identifiable intangible assets over periods of 12 to 60 months. See Note 4 for further details. The Company accounts for its digital assets held as indefinite-lived intangible assets in accordance with ASC 350, Intangibles—Goodwill and Other. The Company maintains ownership of and control over its digital assets and may use third-party custodial services to secure them. The digital assets are initially recorded at cost and are subsequently evaluated for any impairment losses incurred since acquisition. The Company reviews long-lived assets, including software development costs and other intangible assets, for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset are compared with the asset's carrying amount to determine if there has been an impairment, which is calculated as the difference between the fair value of the asset and the carrying value. Estimates of future undiscounted cash flows are based on expected growth rates for the business, anticipated future economic conditions, and estimates of residual values. Fair values take into consideration management estimates of risk-adjusted discount rates, which are believed to be consistent with assumptions that marketplace participants would use in their estimates of fair value. The Company did not recognize any impairment charges associated with the Company’s acquired intangible assets in the twelve months ended December 31, 2021 and 2020. Software Development Costs In accordance with Accounting Standards Codification (“ASC”) 350-40, Internal Use Software, the Company capitalizes certain internal-use software development costs associated with creating and enhancing internally developed software related to its platforms. Software development activities generally consist of three stages (i) the research and planning stage, (ii) the application and development stage, and (iii) the post-implementation stage. Costs incurred in the research and planning stage and in the post-implementation stage of software development, or other maintenance and development expenses that do not meet the qualification for capitalization, are expensed as incurred. Costs incurred in the application and development stage, including significant enhancements and upgrades, are capitalized. These costs include personnel and related employee benefits expenses for employees or consultants who are directly associated with and who devote time to software projects and external direct costs of materials obtained in developing the software. The Company also capitalizes certain costs associated with cloud computing arrangements ("CCAs"). These software developments, acquired technology, and CCA costs are amortized on a straight-line basis over the estimated useful life of five years upon initial release of the software or additional features. The Company reviews the software development costs for impairment when circumstances indicate that their carrying amounts may not be recoverable. If the carrying value of an asset group is not recoverable, the Company recognizes an impairment loss for the excess of carrying value over the fair value in its consolidated statements of operations. See Note 5 for further details. Leases Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) , established a right-of-use model that requires a lessee to record a right-of-use asset and a right-of-use liability on the balance sheet for all leases with terms longer than 12 months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The Company does not record leases on the balance sheet that have a lease term of 12 months or less at the commencement date. Revenue Recognition The Company generates revenue from four primary sources: (1) revenue from its managed services when a marketer (typically a brand, agency, or partner) pays the Company to provide custom content, influencer marketing, amplification, or other campaign management services (“Managed Services”); (2) revenue from fees charged to software customers on their marketplace spend within the Company's IZEAx and Shake platforms (“Marketplace Spend Fees”); (3) revenue from license and subscription fees charged to access the IZEAx and BrandGraph platforms (“License Fees”); and, (4) revenue derived from other fees such as inactivity fees, early cash-out fees, and other miscellaneous fees charged to users of the Company's platforms (“Other Fees”). The Company recognizes revenue in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (“ASC 606”). Under ASC 606, revenue is recognized based on a five-step model as follows: (i) identify the contract with the customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) performance obligations are satisfied. The core principle of ASC 606 is that revenue is recognized when the transfer of promised goods or services to customers is made in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company applies the five-step model to contracts when it is probable that it will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are distinct performance obligations. The Company also determines whether it acts as an agent or a principal for each identified performance obligation. The determination of whether the Company acts as principal or agent is highly subjective and requires the Company to evaluate a number of indicators individually and as a whole in order to make its determination. For transactions in which the Company acts as a principal, revenue is reported on a gross basis as the amount paid by the marketer for the purchase of content or sponsorship, promotion, and other related services and the Company records the amounts it pays to third-party creators as cost of revenue. For transactions in which the Company acts as an agent, revenue is reported on a net basis as the amount the Company charged to the self-service marketer using the Company’s platforms, less the amounts paid to the third-party creators providing the service. The Company maintains separate arrangements with each marketer and content creator either in the form of a master agreement or terms of service, which specify the terms of the relationship and access to its platforms or by statement of work, which specifies the price and the services to be performed, along with other terms. The transaction price is determined based on the fixed fee stated in the statement of work and does not contain variable consideration. Marketers who contract with the Company to manage their advertising campaigns or custom content requests may prepay for services or request credit terms. Payment terms are typically 30 days from the invoice date. The agreement typically provides for either a non-refundable deposit or a cancellation fee if the agreement is canceled by the customer prior to completion of services. Billings in advance of completed services are recorded as a contract liability until earned. The Company assesses collectability based on several factors, including the creditworthiness of the customer and payment and transaction history. Managed Services Revenue For Managed Services Revenue, the Company enters into an agreement to provide services that may include multiple distinct performance obligations in the form of (i) an integrated marketing campaign to provide influencer marketing services, which may include the provision of blogs, tweets, photos, or videos shared through social network offerings and content promotion, such as click-through advertisements appearing in websites and social media channels, and (ii) custom content items, such as a research or news article, informational material or videos. Marketers typically purchase influencer marketing services to provide public awareness or advertising buzz regarding the marketer’s brand and purchase custom content for internal and external use. The Company may provide one type or a combination of all types of these performance obligations on a statement of work for a lump sum fee. The Company allocates revenue to each performance obligation in the contract at inception based on its relative standalone selling price. These performance obligations are to be provided over a stated period that generally ranges from one day to one year. Revenue is accounted for when the performance obligation has been satisfied depending on the type of service provided. The Company views its obligation to deliver influencer marketing services, including management services, as a single performance obligation that is satisfied over time as the customer receives the benefits from the services. Revenue is recognized using an input method of costs incurred compared to total expected costs to measure the progress towards satisfying the overall performance obligation of the marketing campaign. The delivery of custom content represents a distinct performance obligation that is satisfied over time as the Company has no alternative for the custom content, and the Company has an enforceable right to payment for performance completed to date under the contracts. The Company considers custom content to be a series of distinct services that are substantially the same and that have the same pattern of transfer to the customer, and revenue is recognized over time using an output method based on when each individual piece of content is delivered to the customer. Based on the Company’s evaluations, revenue from Managed Services is reported on a gross basis because the Company has the primary obligation to fulfill the performance obligations and it creates, reviews, and controls the services. The Company takes on the risk of payment to any third-party creators, and it establishes the contract price directly with its customers based on the services requested in the statement of work. Marketplace Spend Fees Revenue For Marketplace Spend Fees Revenue, the self-service customers instruct creators found through the Company’s IZEAx and Shake platforms to provide and/or distribute custom content for an agreed-upon transaction price. The Company’s platforms control the contracting, description of services, acceptance of, and payment for the requested content. This service is used primarily by news agencies or marketers to control the outsourcing of their content and advertising needs. The Company charges the self-service customer the transaction price plus a fee based on the contract. Revenue is recognized when the transaction is completed by the creator and accepted by the marketer or verified as posted by the system. Based on the Company’s evaluations, this revenue is reported on a net basis since the Company is acting as an agent through its platform for the third-party creator to provide the services or content directly to the self-service customer or to post approved content through one or more social media platforms. License Fees Revenue License Fees Revenue is generated through the granting of limited, non-exclusive, non-transferable licenses to customers for the use of the IZEAx, BrandGraph, and until February 2020, the TapInfluence technology platforms for an agreed-upon subscription period. Customers license the platforms to manage their own influencer marketing campaigns. Fees for subscription or licensing services are recognized straight-line over the term of the service. Other Fees Revenue Other Fees Revenue is generated when fees are charged to the Company’s platform users primarily related to monthly plan fees, inactivity fees, and early cash-out fees. Plan fees are recognized within the month they relate to, inactivity fees are recognized at a point in time when the account is deemed inactive, and early cash-out fees are recognized when a cash-out is either below certain minimum thresholds or when accelerated payout timing is requested. The Company does not typically engage in contracts that are longer than one Advertising Costs Advertising costs are charged to expense as they are incurred, including payments to content creators to promote the Company. Advertising costs charged to operations for the twelve months ended December 31, 2021, and 2020 were approximately $2.0 million and $0.7 million, respectively. Advertising costs are included in sales and marketing expense in the accompanying consolidated statements of operations. Income Taxes The Company has not recorded federal income tax expense due to its history of net operating losses. Deferred income taxes are accounted for using the balance sheet approach, which requires recognition of deferred tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting basis and the tax basis of assets and liabilities. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. The Company incurs minimal state franchise tax in four states, which is included in general and administrative expense in the consolidated statements of operations and comprehensive loss. The Company identifies and evaluates uncertain tax positions, if any, and recognizes the impact of uncertain tax positions for which there is a less than more-likely-than-not probability of the position being upheld when reviewed by the relevant taxing authority. Such positions are deemed to be unrecognized tax benefits and a corresponding liability is established on the balance sheet. The Company has not recognized a liability for uncertain tax positions. If there were an unrecognized tax benefit, the Company would recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company’s tax years subject to examination by the Internal Revenue Service are 2016 through 2019. In March 2020, the CARES Act was signed into law. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer-side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, increased limitations on qualified charitable contributions, and technical corrections to tax depreciation methods for qualified improvement property. It also appropriated funds for the PPP loans that are forgivable in certain situations to promote continued employment, as well as Economic Injury Disaster Loans to provide liquidity to small businesses harmed by COVID-19. Derivative Financial Instruments Derivative financial instruments are defined as financial instruments or other contracts that contain a notional amount and one or more underlying factors (e.g., interest rate, security price or other variable), require no initial net investment and permit net settlement. Derivative financial instruments may be free-standing or embedded in other financial instruments. Further, derivative financial instruments are initially, and subsequently, measured at fair value and recorded as liabilities or assets. The Company accounts for derivative instruments in accordance with ASC 815, Derivatives and Hedging (“ASC 815”), which requires additional disclosures about the Company’s objectives and strategies for using derivative instruments, how the derivative instruments and related hedged items are accounted for, and how the derivative instruments and related hedging items affect the financial statements. The Company does not use derivative instruments to hedge exposures to cash flow, market or foreign currency risk. Terms of equity instruments are reviewed to determine whether or not they contain embedded derivative instruments that are required under ASC 815 to be accounted for separately from the host contract and recorded on the balance sheet at fair value. The fair value of derivative liabilities, if any, is required to be revalued at each reporting date, with corresponding changes in fair value recorded in current period operating results. Pursuant to ASC 815, an evaluation of specifically identified conditions is made to determine whether the fair value of warrants issued is required to be classified as equity or as a derivative liability. The Company issued 17,500 warrant shares issued in September 2015 with an exercise price of $10.20. These warrants expired in 2020 with no value. Fair Value of Financial Instruments The Company’s financial instruments are recorded at fair value. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The valuation techniques are based on observable and unobservable inputs. Observable inputs reflect readily obta |
Restatement and Revision
Restatement and Revision | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Changes and Error Corrections [Abstract] | |
Error Correction | RESTATEMENT AND REVISION During the preparation of the Annual Report, management conducted a review of the Company’s recognition of liabilities and associated costs relating to the Company’s managed services within its IZEAx platform (“Managed Services”), in connection with which the Company enters into contracts with marketers for creators to produce sponsored social services content (“Sponsored Content”) and post it on one or more approved social media platforms. The Company's Terms of Service state that Sponsored Content posted in response to a marketer's request (an "Opportunity") must remain linked and live for a minimum of forty-five (45) consecutive days (unless otherwise specified in the Opportunity) to validate the fulfillment of the Opportunity and for the creator to earn compensation for the posted Opportunity. Historically, the Company has reported liabilities and associated costs for Sponsored Content, as well as the related revenues, at the conclusion of the 45-day posting period. The Company determined that a portion of the liability and associated cost of the Sponsored Content should have been accrued upon its initial posting (delivery) based on the number of posting days during the reporting period in which such Sponsored Content was posted. Since the Company recognizes its Managed Services revenue using an input method of costs incurred compared to the total of expected costs, the timing of the accrual of Sponsored Content costs affected the related Managed Services revenue recognized during each period. The Company determined that its unaudited interim consolidated financial statements for the quarterly and year-to-date periods ended March 31, 2020, June 30, 2020 and September 30, 2020 were materially misstated and should be restated. In addition, the Company determined that its annual consolidated financial statements for the year ended December 31, 2020, and unaudited interim consolidated financial statements for the quarterly and year-to-date periods ended March 31, 2021, June 30, 2021 and September 30, 2021 were not materially misstated but should be revised. The restated and revised unaudited interim consolidated financial statements are included in Note 13 to the consolidated financial statements. The amounts and disclosures included in this Annual Report have been revised to reflect the corrected presentation. The tables below set forth the impact of the revisions on the Company’s annual consolidated financial statements for the year ended December 31, 2020: IZEA Worldwide, Inc. Consolidated Balance Sheets As of December 31, 2020 As Previously Reported Revision Adjustment As Revised Assets Current assets: Cash and cash equivalents $ 33,045,225 $ — $ 33,045,225 Accounts receivable, net 5,207,205 — 5,207,205 Prepaid expenses 199,294 27,265 226,559 Other current assets 74,467 — 74,467 Total current assets $ 38,526,191 $ 27,265 $ 38,553,456 Property and equipment, net 230,918 — 230,918 Goodwill 4,016,722 — 4,016,722 Intangible assets, net 505,556 — 505,556 Software development costs, net 1,472,684 — 1,472,684 Total assets $ 44,752,071 $ 27,265 $ 44,779,336 Liabilities and Stockholder’s Equity Current liabilities Accounts payable 1,880,144 430,830 2,310,974 Accrued expenses 1,924,973 — 1,924,973 Contract liabilities 7,180,264 (545,394) 6,634,870 Current portion of notes payable 1,477,139 — 1,477,139 Total current liabilities 12,462,520 (114,564) 12,347,956 Finance obligation, less current portion 43,808 — 43,808 Notes payable, less current portion 459,383 — 459,383 Total liabilities 12,965,711 (114,564) 12,851,147 Stockholders’ Equity Common stock; $.0001 par value; 200,000,000 shares authorized; 50,050,167 issued and outstanding 5,005 — 5,005 Additional paid-in-capital 102,416,131 — 102,416,131 Accumulated deficit (1) (70,634,776) 141,829 (70,492,947) Total stockholders’ equity 31,786,360 141,829 31,928,189 Total liabilities and stockholders’ equity $ 44,752,071 $ 27,265 $ 44,779,336 (1) The revision adjustment reflects a revision adjustment of $400,217 to the As Previously Reported accumulated deficit balance at December 31, 2020 and a revision adjustment of $(258,388) to the net loss for 2020. IZEA Worldwide, Inc. Consolidated Statement of Operations and Comprehensive Loss Twelve Months Ended December 31, 2020 As Previously Reported Revision Adjustment As Revised Revenue $ 18,329,555 $ (362,348) $ 17,967,207 Costs and expenses: Cost of revenue 8,000,038 (103,960) 7,896,078 Sales and marketing 5,999,671 — 5,999,671 General and administrative 8,611,423 — 8,611,423 Impairment of goodwill 4,300,000 — 4,300,000 Depreciation and amortization 1,652,126 — 1,652,126 Total costs and expenses 28,563,258 (103,960) 28,459,298 Loss from operations (10,233,703) (258,388) (10,492,091) Other income (expense) Interest expense (63,012) — (63,012) Other income 46,708 — 46,708 Total other income (expense), net (16,304) — (16,304) Net loss (10,250,007) (258,388) (10,508,395) Weighted average common shares outstanding 41,289,705 — 41,289,705 Loss per common share $ (0.25) $ — $ (0.25) IZEA Worldwide, Inc. Consolidated Statements of Stockholders’ Equity Common Stock Additional Paid-In Capital Accumulated Deficit Total Stockholders’ Equity Shares Amount Balance, December 31, 2019 34,634,172 $ 3,464 $ 74,099,328 $ (59,984,552) $ 14,118,240 Sale of securities 14,819,740 1,482 28,453,614 — 28,455,096 Stock purchase plan issuances 15,573 1 7,633 — 7,634 Stock issued for payment of services 390,625 39 124,961 — 125,000 Stock issuance costs — — (747,379) — (747,379) Stock-based compensation 190,057 19 477,974 — 477,993 Net Loss — — — (10,250,007) (10,250,007) Revision adjustment — — — (258,388) (258,388) Balance, December 31, 2020 50,050,167 $ 5,005 $ 102,416,131 $ (70,492,947) $ 31,928,189 IZEA Worldwide, Inc. Consolidated Statements of Cash Flows Twelve Months Ended December 31, 2020 As Previously Reported Revision Adjustment As Revised Cash flows from operating activities: Net income (loss) $ (10,250,007) $ (258,388) $ (10,508,395) Adjustments to reconcile net loss to net cash provided by (used for) operating activities: Depreciation and amortization 135,077 — 135,077 Amortization of software development costs and other intangible assets 1,517,049 — 1,517,049 Stock-based compensation 477,993 — 477,993 Fair value of stock issued for payment of services 125,000 — 125,000 Impairment of intangible assets 4,300,000 — 4,300,000 (Gain) loss on disposal of equipment (22,598) — (22,598) Bad Debt 154,576 — 154,576 Changes in operating assets and liabilities: Accounts receivable 234,938 — 234,938 Prepaid expenses and other current assets 171,620 (15,754) 155,866 Security deposits 151,803 151,803 Accounts payable (372,392) 43,351 (329,041) Accrued expenses 543,768 — 543,768 Contract liabilities 713,498 230,791 944,289 Right-of-use asset and lease liability, net 24,024 — 24,024 Net cash used for operating activities (2,095,651) — (2,095,651) Cash flows from investing activities: Purchase of equipment (19,797) — (19,797) Proceeds from sale of equipment 29,183 — 29,183 Increase in software development costs (363,793) — (363,793) Net cash used for investing activities (354,407) — (354,407) Cash flows from financing activities: Proceeds from the sale of securities 28,455,096 — 28,455,096 Proceeds from stock purchase plan and option exercise issuances 7,634 — 7,634 Proceeds from notes payable 1,936,522 — 1,936,522 Payments on notes payable (41,219) — (41,219) Stock issuance costs (747,379) — (747,379) Net cash provided by financing activities 29,610,654 — 29,610,654 Net increase (decrease) in cash and cash equivalents 27,160,596 — 27,160,596 Cash and cash equivalents, beginning of year 5,884,629 — 5,884,629 Cash and cash equivalents, end of period $ 33,045,225 $ — $ 33,045,225 Supplemental cash flow information: Interest paid 47,290 — 47,290 Non-cash financing and investing activities: Acquisition of assets through finance lease 43,003 — 43,003 Fair value of common stock issued for future services 125,000 — 125,000 In addition, the effect of recording the immaterial correction as of December 31, 2019 resulted in a decrease in accumulated deficit from $60.4 million to $60.0 million and an increase in total stockholders’ equity from $13.7 million to $14.1 million on the consolidated statement of stockholders’ equity. |
Property and Equipment (Notes)
Property and Equipment (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | PROPERTY AND EQUIPMENT Property and equipment consist of the following: December 31, 2021 December 31, 2020 Furniture and fixtures $ 208,583 $ 221,733 Office equipment 66,417 67,833 Computer equipment 541,330 513,344 Total 816,330 802,910 Less accumulated depreciation (661,145) (571,992) Property and equipment, net $ 155,185 $ 230,918 Depreciation expense on property and equipment recorded in depreciation and amortization expense in the consolidated statements of operations and comprehensive loss was $130,478 and $135,077 for the twelve months ended December 31, 2021 and 2020, respectively. |
Intangible Assets (Notes)
Intangible Assets (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets Disclosure [Text Block] | INTANGIBLE ASSETS The identifiable intangible assets, other than Goodwill and Digital Assets, consists of the following assets: December 31, 2021 December 31, 2020 Balance Accumulated Amortization Balance Accumulated Amortization Useful Life (in years) Content provider networks $ 160,000 $ 160,000 $ 160,000 $ 160,000 2 Trade names 87,000 87,000 87,000 87,000 1 Developed technology 820,000 820,000 820,000 820,000 5 Self-service content customers 2,810,000 2,810,000 2,810,000 2,304,444 3 Managed content customers 2,140,000 2,140,000 2,140,000 2,140,000 3 Domains 166,469 166,469 166,469 166,469 5 Embedded non-compete provision 28,000 28,000 28,000 28,000 2 Digital Assets $ 213,263 $ — $ — $ — Indefinite Total $ 6,424,732 $ 6,211,469 $ 6,211,469 $ 5,705,913 Intangible Assets, net of amortization $ 213,263 $ 505,556 Total identifiable intangible assets from the Company’s acquisitions and other acquired assets net of accumulated amortization thereon consists of the following: December 31, 2021 December 31, 2020 Ebyline Intangible Assets $ 2,370,000 $ 2,370,000 ZenContent Intangible Assets 722,000 722,000 Domains 166,469 166,469 TapInfluence Intangible Assets 2,953,000 2,953,000 Digital Assets $ 213,263 $ — Total $ 6,424,732 $ 6,211,469 Less accumulated amortization (6,211,469) (5,705,913) Intangible assets, net $ 213,263 $ 505,556 *Digital assets excluded from table as amortization is not applicable There were no impairment charges associated with the Company’s identifiable intangible assets, other than goodwill and digital assets, in the twelve months ended December 31, 2021, and 2020. Amortization expense recorded in depreciation and amortization in the accompanying consolidated statements of operations and comprehensive loss was $505,556 and $1,105,960 for the twelve months ended December 31, 2021, and 2020, respectively. During the twelve months ended December 31, 2021, the Company purchased and received $216,675 in digital assets. During the twelve months ended December 31, 2021, the Company sold $33,921 in digital assets realizing a gain of $189,307. Such gains are presented in other income. The Company impaired the value of its digital assets by $3,412 on December 31, 2021 as the fair market value decreased from the purchase value. The impairment of digital assets is presented as a non-cash operating expense within general and administrative on the consolidated statements of operations and comprehensive loss. The fair market value of such digital assets held as of December 31, 2021, was $213,263. The Company determines the fair value of its digital assets on a nonrecurring basis in accordance with ASC 820, Fair Value Measurement, based on quoted prices on the active exchange(s) that has been determined to be the principal market for such assets (Level 1 inputs). The Company performs an analysis each quarter to identify whether events or changes in circumstances, principally decreases in the quoted prices on active exchanges, indicate that it is more likely than not that the digital assets are impaired. In determining if an impairment has occurred, the Company considers the lowest market price of one unit of the digital asset quoted on the active exchange since acquiring the digital asset. If the then-current carrying value of a digital asset exceeds the fair value so determined, an impairment loss has occurred with respect to those digital assets in the amount equal to the difference between their carrying value and the price determined. Impairment losses on digital assets are recognized within general and administrative expenses in the consolidated statements of operations and comprehensive loss in the period in which the impairment is identified. The impaired digital assets are written down to the lowest market price at the time of impairment and this new cost basis will not be adjusted upward for any subsequent increase in fair value. Gains are not recorded until realized upon sale, at which point they are presented net of any impairment losses for the same digital assets held. In determining the gain to be recognized upon sale, the Company calculates the difference between the sales price and carrying value of the digital assets sold immediately prior to sale. The Company’s goodwill balance changed as follows: Amount Balance on December 31, 2019 $ 8,316,722 Acquisitions, impairments, or other changes during 2020 (4,300,000) Balance on December 31, 2020 4,016,722 Acquisitions, impairments, or other changes during 2021 — Balance on December 31, 2021 $ 4,016,722 In March 2020, the Company identified triggering events due to the reduction in its projected revenue due to adverse economic conditions caused by the COVID-19 pandemic, the continuation of a market capitalization below the Company’s carrying value, and uncertainty for recovery given the volatility of the capital markets surrounding COVID-19. The Company performed an interim assessment of goodwill, using the discounted cash flow method under the income approach and the guideline transaction method under the market approach, and determined that the carrying value of the Company’s reporting unit as of March 31, 2020, exceeded the fair value. As a result of the valuation, the Company recorded a $4.3 million impairment of goodwill, which was reflected as an expense under the impairment of goodwill in the consolidated statements of operations and comprehensive loss for the twelve months ended December 31, 2020. In the fourth quarter of 2021, the Company performed an annual impairment assessment of goodwill that did not indicate that an impairment existed; therefore, no impairment of goodwill has been recorded. |
Software Development Costs (Not
Software Development Costs (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Research and Development [Abstract] | |
Research, Development, and Computer Software Disclosure [Text Block] | SOFTWARE DEVELOPMENT COSTS Software development costs consists of the following: December 31, 2021 December 31, 2020 Software development costs $ 3,036,810 $ 3,036,810 Less accumulated amortization (2,017,210) (1,564,126) Software development costs, net $ 1,019,600 $ 1,472,684 The Company developed its web-based influencer marketing platform, IZEAx, to enable influencer marketing and content creation campaigns on a greater scale. The Company continues to add new features and additional functionality to IZEAx and developed additional platforms in 2020, BrandGraph and Shake, to facilitate the contracting, workflow, and delivery or posting of content as well as provide for invoicing, collaborating, and direct payments for the Company’s customers and creators. The Company capitalized software development costs of $0 and $363,793 during the twelve months ended December 31, 2021, and 2020, respectively. As a result, the Company has capitalized a total of $3,036,810 in direct materials, consulting, payroll, and benefit costs to its internal-use software development costs in the consolidated balance sheet as of December 31, 2021. The Company amortizes its software development costs, commencing upon initial release of the software or additional features, on a straight-line basis over the estimated useful life of five years, which is consistent with the amount of time its legacy platforms were in service. As of December 31, 2021, future estimated amortization expense related to software development costs is set forth in the following schedule: Software Development Amortization Expense 2022 $ 400,474 2023 359,685 2024 177,764 2025 78,920 2026 2,757 Total $ 1,019,600 |
Accrued Expenses (Notes)
Accrued Expenses (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | ACCRUED EXPENSES Accrued expenses consist of the following: December 31, 2021 December 31, 2020 Accrued payroll liabilities $ 2,251,284 $ 1,504,113 Accrued taxes 76,079 286,455 Current portion of finance obligation 33,388 30,487 Accrued other 142,131 103,918 Total accrued expenses $ 2,502,882 $ 1,924,973 |
Notes Payable (Notes)
Notes Payable (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Debt Disclosure | NOTES PAYABLE Canada Emergency Business Account (“ CEBA”) Loan On April 22, 2020, the Company received a Canadian dollar loan in the principal amount of 40,000 CAD ($31,648 USD as of December 31, 2021 ), from TD Canada Trust Bank pursuant to a CEBA term loan agreement (the “CEBA Loan”). The CEBA Loan has an initial term from inception through December 31, 2022 (the “Initial Term”) and an extended-term from January 1, 2023 through December 31, 2025 (the “Extended Term”). No interest is accrued, and no payments are due on the loan during the Initial Term. If the Company repays 75% of the CEBA Loan (30,000 CAD) on or prior to December 31, 2022, the remaining 10,000 CAD balance will be forgiven. Otherwise, interest will begin to accrue on the unpaid balance on January 1, 2023, with monthly interest payments commencing on January 31, 2023, until the CEBA Loan is paid in full on or before the end of the Extended Term. Paycheck Protection Program (“PPP”) Loan On April 23, 2020, the Company received a loan from Western Alliance Bank (the “Lender”) in the principal amount of $1,905,100, under the PPP evidenced by a promissory note issued by the Company (the “Note”) to the Lender. The term of the Note was two Loan payments on the PPP Loan could be deferred to either (1) the date that the SBA remits the Company’s loan forgiveness amount to the Lender or (2) ten months after the end of the Company’s loan forgiveness covered period if the Company does not apply for loan forgiveness . The principal balance of the PPP Loan was $1,905,100, with $1,477,139 reflected in the current portion of notes payable in the consolidated balance sheet as of December 31, 2020. The Company submitted its forgiveness application for the entire amount of the loan in December 2020. On June 18, 2021, the Company was notified by the Lender that the loan had been forgiven by the SBA in full, including accrued interest. The principal amount of $1,905,100 and accrued interest of $22,120, totaling $1,927,220, was recorded as a gain on forgiveness of debt in other income, net in the Company’s consolidated statements of operations and comprehensive loss for the twelve months ended December 31, 2021. Finance Obligation The Company has two long-term payment plans with a vendor to pay for its computer equipment in four annual payments between October 2019 and February 2023. The Company used an imputed interest rate of 9.5%, based on its incremental borrowing rate, to determine the present value of its financial obligation. The total balance owed was $43,808 and $74,295 as of December 31, 2021, and 2020, respectively, with the short-term portion of $33,388 and $30,487 recorded under accrued expenses in the consolidated balance sheets as of December 31, 2021, and 2020, respectively. Secured Credit Facility The Company had a secured credit facility agreement (also referred to herein as “line of credit”) with Western Alliance Bank, the parent company of Bridge Bank, N.A. of San Jose, California, which was obtained on March 1, 2013, and expanded on April 13, 2015. The line of credit agreement required the Company to pay an annual facility fee of $20,000 and an annual due diligence fee of $1,000 upon renewal. During the twelve months ended December 31, 2021, and 2020, the Company amortized $7,000 and $15,750, respectively, of such costs through interest expense. The Company terminated its line of credit in April 2021. No amounts were outstanding under this secured credit facility as of December 31, 2020, and there are no remaining capitalized loan costs related to the secured credit facility as of December 31, 2021. Summary Interest expense on financing arrangements recorded in the Company’s consolidated statements of operations was $15,410 and $36,125 during the twelve months ended December 31, 2021, and 2020, respectively. As of December 31, 2021, the future contractual maturities of the Company’s debt obligations by year is set forth in the following schedule: 2022 33,388 2023 42,068 Total $ 75,456 |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | COMMITMENTS AND CONTINGENCIES Lease Commitments The Company initiated a work from home policy on March 16, 2020, as a result of the COVID-19 pandemic, and in April 2021 announced its intention to remain a virtual-first workforce . The lease on the Company’s headquarters expired on April 30, 2020 and flexible office space in several cities were not renewed upon the expiration of their terms throughout 2020. The Company does not have any operating or finance leases greater than 12 months in duration as of December 31, 2021. The Company did not have any leasehold rent or operating lease expenses during the twelve months ended December 31, 2021. Total leasehold rent expense recorded in general and administrative expense in the accompanying consolidated statements of operations and comprehensive loss was $264,048 for the twelve months ended December 31, 2020. Cash paid for the one operating lease totaled $113,516 during the twelve months ended December 31, 2020. Retirement Plans The Company offers a 401(k) plan to all of its eligible employees. The Company matches participant contributions in an amount equal to 50% of each participant’s contribution up to 8% of the participant’s salary. The participants become vested in 20% annual increments after two Twelve Months Ended December 31, December 31, Cost of revenue $ 51,331 $ 27,990 Sales and marketing 92,925 57,389 General and administrative 87,154 65,752 Total contribution expense $ 231,410 $ 151,131 Litigation On July 3, 2018, a shareholder derivative lawsuit, Korene Stuart v. Edward H. Murphy et al. , case number A-18-777135-C was instituted in the Eighth Judicial District Court of the State of Nevada, Clark County against certain executive officers and members of the Board of Directors for IZEA. IZEA was named as a nominal defendant. The plaintiff sought to recover damages on behalf of the Company for purported breaches of the individual defendants’ fiduciary duties as directors and/or officers of IZEA, unjust enrichment, abuse of control, gross mismanagement, and waste of corporate assets in violation of state common law. Additionally, on October 19, 2018, a shareholder derivative lawsuit, Dennis E. Emond v. Edward H. Murphy et al. , case number 2:18-cv-9040, was instituted in the U.S. District Court for the Central District of California against certain executive officers and members of the Board of Directors for IZEA. IZEA was named as a nominal defendant. An amended complaint was filed on October 31, 2018. The plaintiff sought to recover damages on behalf of the Company for purported breaches of the individual defendants’ fiduciary duties as directors and/or officers of IZEA, gross mismanagement, and under federal securities laws. On March 6, 2019, a stipulation of settlement was filed in the United States District Court for the Central District of California that contained settlement terms as agreed upon by the parties to the Stuart and Emond shareholder derivative lawsuits described above (the “Settlement”). The Settlement terms agreed upon by the parties included that IZEA would direct its insurers to make a payment of $300,000 as a fee and service award to the plaintiffs and their counsel in the Stuart and Emond lawsuits and further that IZEA would enact certain corporate governance reforms. The motion for preliminary approval of the Settlement was granted on August 28, 2019, by the United States District Court for the Central District of California. The U.S. District Court for the Central District of California issued an order on January 13, 2020, which required that the Emond lawsuit be dismissed with prejudice. According to the terms of the Settlement, as agreed upon by the parties, following the approval of the Settlement by the U. S. District Court for the Central District of California and on or before February 26, 2020, the parties were required to seek an order from the Eighth Judicial District Court of the State of Nevada dismissing the Stuart lawsuit with prejudice. On or about March 6, 2020, the Eighth Judicial District Court of the State of Nevada issued an order dismissing the Stuart lawsuit with prejudice. From time to time, the Company may become involved in various other lawsuits and legal proceedings that arise in the ordinary course of its business. Litigation is, however, subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm the Company’s business. The Company is currently not aware of any legal proceedings or claims that it believes would or could have, individually or in the aggregate, a material adverse effect on the Company. Regardless of the outcome, however, any such proceedings or claims may nonetheless impose a significant burden on management and employees and may come with costly defense costs or unfavorable preliminary interim rulings. |
Stockholders' Equity (Notes)
Stockholders' Equity (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Shareholders' Equity and Share-based Payments | STOCKHOLDERS’ EQUITY Authorized Shares The Company has 200,000,000 authorized shares of common stock and 10,000,000 authorized shares of preferred stock, each with a par value of $0.0001 per share. Sale of Securities On June 4, 2020, the Company entered into an ATM Sales Agreement (the “2020 Sales Agreement”) with National Securities Corporation, as sales agent (“National Securities”), pursuant to which the Company may offer and sell, from time to time, through National Securities, shares of the Company's common stock, by any method deemed to be an “at the market offering” under Rule 415 of the Securities Act (the “ATM Offering”). On June 12, 2020, the Company entered into an amendment to the 2020 Sales Agreement to increase the amount of common stock that may be offered and sold in the ATM Offering to $40 million in the aggregate. On January 25, 2021, the Company entered into a new ATM Sales Agreement (the “January 2021 Sales Agreement”) with National Securities, pursuant to which the Company may offer and sell, from time to time, through National Securities up to $35 million shares of its common stock, by any method determined to be an “at the market offering” under Rule 415 of the Securities Act. During the twelve months ended December 31, 2021, the Company sold 11,186,084 shares at an average price of $4.16 per share for total gross proceeds of $46,544,688 pursuant to the 2020 Sales Agreement and the January 2021 Sales Agreement with National Securities. As of December 31, 2021, the Company has sold a total of 26,005,824 shares at an average price of $2.88 per share for total gross proceeds of $74,999,784 pursuant to the 2020 Sales Agreement and the January 2021 Sales Agreement with National Securities. The 2020 Sales Agreement and January 2021 Sales Agreement were terminated following the sale of all shares of common stock available to be sold thereunder. On June 21, 2021, the Company entered into a third ATM Sales Agreement (the “June 2021 Sales Agreement”) with National Securities, as sales agent, pursuant to which the Company could offer and sell, from time to time, through National Securities, up to $100 million shares of the Company’s common stock by any method deemed to be an ”at the market offering” under Rule 415 of the Securities Act. No sales had been made under this agreement as of December 31, 2021. Equity Incentive Plans In May 2011, the Company’s Board of Directors (the “Board”) adopted the 2011 Equity Incentive Plan of IZEA Worldwide, Inc. (as amended, the “2011 Equity Incentive Plan”). The Company’s stockholders approved an amendment and restatement of the 2011 Equity Incentive Plan at the Company’s 2020 Annual Meeting of Stockholders held on December 18, 2020, to allow the Company to award restricted stock, restricted stock units, and stock options covering up to 7,500,000 shares of common stock as incentive compensation for its employees and consultants. As of December 31, 2021, the Company had 3,534,570 remaining shares of common stock available for issuance pursuant to future grants under the 2011 Equity Incentive Plan. In August 2011, the Company adopted the 2011 B Equity Incentive Plan (the “August 2011 Plan”) reserving 4,375 shares of common stock for issuance under the August 2011 Plan. The August 2011 Plan expired in 2021 and no new grants may be made thereunder. Restricted Stock Under the 2011 Plan, the Board determines the terms and conditions of each restricted stock issuance, including any future vesting restrictions. In 2020, the Company issued its five independent directors a total of 390,625 shares of restricted common stock initially valued at $125,000 for their annual service as directors of the Company. The stock vests in equal monthly installments from January through December 2020. In 2021, the Company issued its six independent directors a total of 30,324 shares of restricted common stock initially valued at $147,329 for their annual service as directors of the Company. The stock vests in equal monthly installments from January through December 2021. A new board member started on February 9, 2021 and the annual stock compensation was pro-rated. The following table contains summarized information about restricted stock issued during the years ended December 31, 2020 and December 31, 2021: Restricted Stock Common Shares Weighted Average Weighted Average Nonvested at December 31, 2019 31,282 $ 2.15 1.9 Granted 390,625 0.32 Vested (408,241) 0.39 Forfeited — — Nonvested at December 31, 2020 13,666 $ 2.28 1.4 Granted 30,324 4.86 Vested (40,437) 4.25 Forfeited — — Nonvested at December 31, 2021 3,553 $ 1.83 0.7 Although restricted stock is issued upon the grant of an award, the Company excludes restricted stock from the computations within the financial statements of total shares outstanding and basic earnings per share until such time as the restricted stock vests. Expense recognized on restricted stock issued to directors for services was $147,329 and $125,000 during twelve months ended December 31, 2021, and 2020, respectively. Expense recognized on restricted stock issued to employees was $24,699 and $33,677 during the twelve months ended December 31, 2021, and 2020, respectively. On December 31, 2021, the fair value of the Company’s common stock was approximately $1.34 per share and the intrinsic value on the non-vested restricted stock was $4,761. Future compensation expense related to issued, but non-vested, restricted stock awards as of December 31, 2021, is $6,503. This value is estimated to be recognized over the weighted-average vesting period of approximately seven months. Restricted Stock Units The Board determines the terms and conditions of each restricted stock unit award issued under the May 2011 Plan. During the twelve months ended December 31, 2021, the Company issued a total of 122,599 restricted stock units initially valued at $260,288 to non-executive employees as additional incentive compensation. The restricted stock units vest between 12 and 36 months from issuance. During the twelve months ended December 31, 2021, the Company issued Mr. Murphy 100,000 restricted stock units valued at $394,000 for incentive compensation under the terms of his amended employment agreement. The restricted stock units vest in equal monthly installments over 10 months from issuance. During the twelve months ended December 31, 2021, the Company issued Mr. Biere 7,039 restricted stock units initially valued at $15,736 for incentive compensation under the terms of his employment agreement. The restricted stock units vest in equal monthly installments over 36 months from issuance. The following table contains summarized information about restricted stock units during the years ended December 31, 2020 and December 31, 2021: Restricted Stock Units Common Shares Weighted Average Weighted Average Nonvested at December 31, 2019 366,812 $ 0.42 3.2 Granted 930,145 0.37 Vested (172,441) 0.41 Forfeited (154,167) 0.30 Nonvested at December 31, 2020 970,349 $ 0.39 1.2 Granted 229,638 2.93 Vested (817,417) 0.83 Forfeited (7,126) 1.77 Nonvested at December 31, 2021 375,444 $ 0.96 1.8 Expense recognized on restricted stock units issued to employees was $575,150 and $214,528 during the twelve months ended December 31, 2021, and 2020, respectively. On December 31, 2021, the fair value of the Company’s common stock was approximately $1.34 per share and the intrinsic value on the non-vested restricted units was $503,095. Future compensation related to the non-vested restricted stock units as of December 31, 2021, is $321,133 and it is estimated to be recognized over the weighted-average vesting period of approximately 1.8 years. Stock Options Under the 2011 Equity Incentive Plan, the Board determines the exercise price to be paid for the stock option shares, the period within which each stock option may be exercised, and the terms and conditions of each stock option. The exercise price of incentive and non-qualified stock options may not be less than 100% of the fair market value per share of the Company’s common stock on the grant date. If an individual owns stock representing more than 10% of the outstanding shares, the exercise price of each share of an incentive stock option must be equal to or exceed 110% of fair market value. Unless otherwise determined by the Board at the time of grant, the exercise price is set at the fair market value of the Company’s common stock on the grant date (or the last trading day prior to the grant date, if it is awarded on a non-trading day). Additionally, the term is set at ten one three A summary of option activity under the 2011 Equity Incentive Plans during the years ended December 31, 2020, and December 31, 2021, is presented below: Options Outstanding Common Shares Weighted Average Weighted Average Outstanding at December 31, 2019 1,357,837 $ 3.24 7.2 Granted 411,350 0.69 Exercised (369) 1.00 Forfeited (56,012) 5.08 Outstanding at December 31, 2020 1,712,806 $ 2.56 6.9 Granted 296,569 2.60 Exercised (182,722) 3.26 Forfeited (30,990) 0.32 Outstanding at December 31, 2021 1,795,663 $ 2.79 6.4 Exercisable at December 31, 2021 1,139,859 $ 3.54 5.1 During the twelve months ended December 31, 2021, 182,722 options were exercised for gross proceeds of $58,971. The intrinsic value of the exercised options was $488,514. During the twelve months ended December 31, 2020, 369 options were exercised for gross proceeds of $369. The intrinsic value of the exercised options was $265. The fair value of the Company's common stock on December 31, 2021, was approximately $1.34 per share, and the intrinsic value on outstanding options as of December 31, 2021, was $444,637. The intrinsic value of the exercisable options as of December 31, 2021, was $207,141. A summary of the nonvested stock option activity under the 2011 Equity Incentive Plan during the years ended December 31, 2020, and December 31, 2021, is presented below: Nonvested Options Common Shares Weighted Average Weighted Average Nonvested at December 31, 2019 600,779 $ 0.64 3.0 Granted 411,350 0.56 Vested (283,766) 0.72 Forfeited (12,877) 0.88 Nonvested at December 31, 2020 715,486 $ 0.56 2.5 Granted 296,569 2.25 Vested (339,099) 0.73 Forfeited (17,152) 1.38 Nonvested at December 31, 2021 655,804 $ 1.22 2.3 There were outstanding options to purchase 1,795,663 shares with a weighted average exercise price of $2.79 per share, of which options to purchase 1,139,859 shares were exercisable with a weighted average exercise price of $3.54 per share as of December 31, 2021. Expense recognized on stock options issued to employees during the twelve months ended December 31, 2021, and 2020 was $270,958 and $225,083, respectively. Future compensation related to non-vested awards as of December 31, 2021, is $682,518, and it is estimated to be recognized over the weighted-average vesting period of approximately 2.3 years. The following table shows the number of stock options granted under the Company’s 2011 Equity Incentive Plans and the assumptions used to determine the fair value of those options using a Black-Scholes option-pricing model during the twelve months ended December 31, 2021, and 2020: Twelve Months Ended Total Options Granted Weighted Average Exercise Price Weighted Average Expected Term Weighted Average Volatility Weighted Average Risk-Free Interest Rate Expected Dividends Weighted Average Weighted average expected forfeiture rate December 31, 2020 411,350 $ 0.69 6.0 years 108.58% 0.46% — $ 0.56 7.72% December 31, 2021 296,569 $ 2.60 6.0 years 120.18% 0.98% — $ 2.25 11.74% Employee Stock Purchase Plan The amended and restated IZEA Worldwide, Inc. 2014 Employee Stock Purchase Plan (the “ESPP”) provides for the issuance of up to 500,000 shares of the Company’s common stock to employees regularly employed by the Company for 90 days or more on a full-time or part-time basis (20 hours or more per week on a regular schedule). The ESPP operates in successive six During the twelve months ended December 31, 2021, and 2020, employees paid $5,395 to purchase 8,113 shares of common stock and $5,320 to purchase 5,539 shares of common stock, respectively. The stock compensation expense on ESPP Options was $7,932 and $4,705 for the twelve months ended December 31, 2021 and 2020, respectively. As of December 31, 2021, the Company had 387,500 remaining shares of common stock available for future issuances under the ESPP. Summary Stock-Based Compensation The stock-based compensation cost related to all awards granted to employees is measured at the grant date, based on the fair value of the award, and is recognized as an expense over the employee’s requisite service period utilizing the weighted-average forfeiture rates as disclosed in Note 1. Total stock-based compensation expense recognized on restricted stock, restricted stock units, stock options, and employee stock purchase plan issuances during the twelve months ended December 31, 2021, and 2020 was recorded in the Company’s consolidated statements of operations as follows: Twelve Months Ended December 31, December 31, Cost of revenue $ 9,160 $ 10,152 Sales and marketing 22,115 55,458 General and administrative 847,464 412,383 Total stock-based compensation $ 878,739 $ 477,993 |
Loss Per Common Share (Notes)
Loss Per Common Share (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | LOSS PER COMMON SHAREBasic earnings (loss) per common share is computed by dividing the net income or loss by the basic weighted-average number of shares of common stock outstanding during each period presented. Although restricted stock is issued upon the grant of an award, the Company excludes restricted stock from the computations of the weighted-average number of shares of common stock outstanding until the stock vests. Diluted loss per share is computed by dividing the net income or loss by the sum of the total of the basic weighted-average number of shares of common stock outstanding plus the additional dilutive securities that could be exercised or converted into common shares during each period presented less the amount of shares that could be repurchased using the proceeds from the exercises. Twelve Months Ended December 31, December 31, Net loss $ (3,140,621) $ (10,508,395) Weighted average shares outstanding - basic and diluted 60,407,921 41,289,705 Basic and diluted loss per common share $ (0.05) $ (0.25) The Company excluded the following weighted average items from the above computation of diluted loss per common share, as their effect would be anti-dilutive: Twelve Months Ended December 31, December 31, Stock options 1,750,096 1,560,828 Restricted stock units 516,180 980,785 Restricted stock 22,632 232,600 Warrants — 6,517 Total excluded shares 2,288,908 2,780,730 |
Revenue (Notes)
Revenue (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | REVENUE The Company has consistently applied its accounting policies with respect to revenue to all periods presented in the consolidated financial statements contained herein. The following table illustrates the Company’s revenue by product service type: Twelve Months Ended December 31, December 31, Managed Services Revenue $ 28,203,556 $ 15,625,273 Marketplace Spend Fees 319,419 621,536 License Fees 1,454,874 1,667,662 Other Fees 44,528 52,736 SaaS Services Revenue 1,818,821 2,341,934 Total Revenue $ 30,022,377 $ 17,967,207 The following table provides the Company’s revenues as determined by the country of domicile: Twelve Months Ended December 31, December 31, United States $ 29,390,892 $ 16,964,603 Canada 631,485 1,002,604 Total $ 30,022,377 $ 17,967,207 Contract Balances The following table provides information about receivables, contract assets and contract liabilities from contracts with customers reported in the Company’s consolidated balance sheet: December 31, December 31, 2020 Accounts receivable, net $ 7,599,103 $ 5,207,205 Contract liabilities (unearned revenue) $ 11,338,095 $ 6,634,870 The increase in contract liabilities is primarily the result of the increase in fourth-quarter contracts where the customers have paid in advance for services in future periods. The Company does not typically engage in contracts that are longer than one Contract receivables are recognized when the receipt of consideration is unconditional. Contract liabilities relate to the consideration received from customers in advance of the Company satisfying performance obligations under the terms of the contracts, which will be earned in future periods. Contract liabilities increase as a result of receiving new advance payments from customers and decrease as revenue is recognized upon the Company meeting the performance obligations. As a practical expedient, the Company expenses the costs of sales commissions that are paid to its sales force associated with obtaining contracts less than one year in length in the period incurred. Remaining Performance Obligations The Company typically enters into contracts that are one year or less in length. As such, the remaining performance obligations at December 31, 2021, and December 31, 2020, are equal to the contract liabilities disclosed above. The Company expects to recognize the full balance of the unearned revenue on December 31, 2021, within the next year. |
Income Taxes (Notes)
Income Taxes (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure | INCOME TAXES The components of the Company’s net deferred income taxes are as follows (rounded): December 31, December 31, Deferred tax assets: Net operating loss carry forwards $ 23,877,000 $ 22,376,000 Accrued expenses 430,000 281,000 Stock option and warrant expenses 504,000 474,000 Accounts receivable 41,000 38,000 Other (42,000) 3,000 Total deferred tax assets 24,810,000 23,172,000 Valuation allowance (24,684,000) (22,950,000) Net deferred tax assets 126,000 222,000 Deferred tax liabilities: Fixed and tangible assets (126,000) (222,000) Total deferred tax liabilities (126,000) (222,000) Total deferred tax assets (liabilities) $ — $ — The following summary reconciles differences from taxes at the federal statutory rate with the effective rate: Twelve Months Ended December 31, December 31, Federal income tax at statutory rates (21.0) % (21.0) % Change in deferred tax asset valuation allowance 53.7 % 13.8 % Deferred state taxes (7.2) % (2.1) % Non-deductible expenses: Goodwill impairment — % 9.0 % ISO & Restricted stock compensation (6.4) % (0.1) % Change in state & federal deferred rate (5.9) % 0.2 % PPP loan forgiveness (13.4) % — % Other 0.2 % 0.2 % Income taxes at effective rates — % — % The Company has incurred net losses for tax purposes every year since its inception. As of December 31, 2021, the Company had approximately $91,220,139 in net operating loss carryforwards for U.S. federal income tax purposes and $93,630,068 in net operating loss carryforwards for state income tax purposes, which in the aggregate expire in various amounts between the years of 2026 and 2040. The Company's ability to deduct its historical net operating losses may be limited in the future due to IRC Section 382 as a result of the substantial issuances of common stock in 2012 through 2021. Certain of the Company's net operating losses acquired in connection with the Ebyline, ZenContent, and TapInfluence acquisitions also may be limited by IRC Section 382. The change in the valuation allowance for the twelve months ended December 31, 2021, was an increase of $1,734,000, resulting primarily from net operating losses generated during the period. The change in the valuation allowance for the twelve months ended December 31, 2020, was an increase of $1,289,000, resulting primarily from net operating losses generated during the period. |
Subsequent Events (Notes)
Subsequent Events (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | SUBSEQUENT EVENTSThe Company has completed an evaluation of all subsequent events through March 31, 2022 to ensure that these consolidated financial statements include appropriate disclosure of events both recognized in the consolidated financial statements and events which occurred but were not recognized in the consolidated financial statements. The Company has concluded that no subsequent event has occurred that requires disclosure. |
Unaudited Quarterly Financial D
Unaudited Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2021 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information | UNAUDITED QUARTERLY FINANCIAL DATA As discussed in Note 2, the Company determined that its unaudited interim consolidated financial statements for the quarterly and year-to-date periods ended March 31, 2020, June 30, 2020 and September 30, 2020 were materially misstated and should be restated and that the interim consolidated financial statements for the quarterly and year-to-date periods ended March 31, 2021, June 30, 2021, and September 30, 2021 were not materially misstated but should be revised. The tables below set forth the impact of the restatements and revisions on the Company’s unaudited interim consolidated financial statements. IZEA Worldwide, Inc. Unaudited Consolidated Balance Sheets March 31, 2020 As Previously Reported Restatement Adjustment As Restated Assets Current assets: Cash and cash equivalents $ 5,634,441 $ — $ 5,634,441 Accounts receivable, net 3,977,571 — 3,977,571 Prepaid expenses 423,419 8,761 432,180 Other current assets 37,097 — 37,097 Total current assets $ 10,072,528 $ 8,761 $ 10,081,289 Property and equipment, net 317,154 — 317,154 Goodwill 4,016,722 — 4,016,722 Intangible assets, net 1,246,526 — 1,246,526 Software development costs, net 1,470,334 — 1,470,334 Security deposits 151,184 — 151,184 Total assets $ 17,274,448 $ 8,761 $ 17,283,209 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable 1,130,791 314,461 1,445,252 Accrued expenses 1,604,588 — 1,604,588 Contract liabilities 5,597,479 (418,964) 5,178,515 Current portion of notes payable 1,162,924 — 1,162,924 Total current liabilities $ 9,495,782 $ (104,503) $ 9,391,279 Notes payable, less current portion 65,609 — 65,609 Total liabilities $ 9,561,391 $ (104,503) $ 9,456,888 Stockholders’ equity: Common stock; $.0001 par value; 200,000,000 shares authorized; 34,773,051 shares issued and outstanding 3,477 — 3,477 Additional paid-in capital 74,257,810 — 74,257,810 Accumulated deficit (1) (66,548,230) 113,264 (66,434,966) Total stockholders’ equity $ 7,713,057 $ 113,264 $ 7,826,321 Total liabilities and stockholders’ equity $ 17,274,448 $ 8,761 $ 17,283,209 (1) The restatement adjustment reflects a restatement adjustment of $400,217 to the As Previously Reported accumulated deficit balance and a restatement adjustment of $(286,953) to the year-to-date net loss. IZEA Worldwide, Inc. Unaudited Consolidated Statements of Operations and Comprehensive Loss Three Months Ended March 31, 2020 As Previously Reported Restatement Adjustment As Restated Revenue $ 4,763,668 $ (439,193) $ 4,324,475 Costs and expenses: Cost of revenue 2,140,517 (152,240) 1,988,277 Sales and marketing 1,523,143 — 1,523,143 General and administrative 2,417,838 — 2,417,838 Impairment of goodwill 4,300,000 — 4,300,000 Depreciation and amortization 501,269 — 501,269 Total costs and expenses 10,882,767 (152,240) 10,730,527 Loss from operations (6,119,099) (286,953) (6,406,052) Other income (expense): Interest expense (6,618) — (6,618) Other income (expense) (37,744) — (37,744) Total other income (expense), net (44,362) — (44,362) Net loss $ (6,163,461) $ (286,953) $ (6,450,414) Weighted average common shares outstanding basic and diluted 34,681,198 — 34,681,198 Basic and diluted loss per common share $ (0.18) $ (0.01) $ (0.19) IZEA Worldwide, Inc. Unaudited Consolidated Statements of Stockholders’ Equity Common Stock Additional Paid-In Capital Accumulated Deficit Total Stockholders’ Equity Shares Amount Balance, December 31, 2019 34,634,172 $ 3,464 $ 74,099,328 $ (59,984,552) $ 14,118,240 Sale of securities — — — — — Stock purchase plan issuances — — — — — Stock issued for payment of services 97,655 10 31,240 — 31,250 Stock issuance costs — — (2,326) — (2,326) Stock-based compensation 41,224 3 129,568 — 129,571 Net Loss — — — (6,163,461) (6,163,461) Restatement adjustment — — — (286,953) (286,953) Balance, March 31, 2020 34,773,051 $ 3,477 $ 74,257,810 $ (66,434,966) $ 7,826,321 IZEA Worldwide, Inc. Unaudited Consolidated Statements of Cash Flows Three Months Ended March 31, 2020 As Previously Reported Restatement Adjustment As Restated Cash flows from operating activities: Net income (loss) $ (6,163,461) $ (286,953) $ (6,450,414) Adjustments to reconcile net loss to net cash provided by (used for) operating activities: Depreciation and amortization 35,629 — 35,629 Amortization of software development costs and other intangible assets 465,640 — 465,640 Stock-based compensation 129,571 — 129,571 Fair value of stock issued for payment of services 31,250 — 31,250 Impairment of goodwill 4,300,000 — 4,300,000 Provision for losses on accounts receivable 33,305 — 33,305 Cash provided by (used for): Accounts receivable 1,585,843 — 1,585,843 Prepaid expenses and other current assets (15,135) 2,750 (12,385) Security deposits 619 — 619 Accounts payable (1,121,745) (73,017) (1,194,762) Accrued expenses 215,375 — 215,375 Contract liabilities (869,287) 357,220 (512,067) Right-of-use asset and lease liability, net 24,024 — 24,024 Net cash used for operating activities (1,348,372) — (1,348,372) Cash flows from investing activities: — Software development costs (51,004) — (51,004) Net cash used for investing activities (51,004) — (51,004) Cash flows from financing activities: — Proceeds from line of credit, net of repayments 1,162,924 — 1,162,924 Payments on notes payable and capital leases (11,410) — (11,410) Stock issuance costs (2,326) — (2,326) Net cash provided by financing activities 1,149,188 — 1,149,188 Net increase (decrease) in cash and cash equivalents (250,188) — (250,188) Cash and cash equivalents, beginning of year 5,884,629 — 5,884,629 Cash and cash equivalents, end of period $ 5,634,441 — $ 5,634,441 Supplemental cash flow information: Interest paid 1,368 — 1,368 Non-cash financing and investing activities: Acquisition of assets through finance lease 43,003 — 43,003 Fair value of common stock issued for future services 125,000 — 125,000 IZEA Worldwide, Inc. Unaudited Consolidated Balance Sheets As of June 30, 2020 As Previously Reported Restatement Adjustment As Restated Assets Current assets: Cash and cash equivalents $ 20,820,273 $ — $ 20,820,273 Accounts receivable, net 3,053,135 — 3,053,135 Prepaid expenses 368,697 1,312 370,009 Other current assets 130,656 — 130,656 Total current assets $ 24,372,761 $ 1,312 $ 24,374,073 Property and equipment, net 282,082 — 282,082 Goodwill 4,016,722 — 4,016,722 Intangible assets, net 1,006,536 — 1,006,536 Software development costs, net 1,413,920 — 1,413,920 Security deposits 40,382 — 40,382 Total assets $ 31,132,403 $ 1,312 $ 31,133,715 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable 1,022,960 267,779 1,290,739 Accrued expenses 1,287,652 — 1,287,652 Contract liabilities 5,841,264 (330,959) 5,510,305 Current portion of notes payable 837,865 — 837,865 Total current liabilities $ 8,989,741 $ (63,180) $ 8,926,561 Finance obligation, less current portion 65,609 — 65,609 Notes payable, less current portion 1,096,722 — 1,096,722 Total liabilities $ 10,152,072 $ (63,180) $ 10,088,892 Stockholders’ Equity Common stock; $.0001 par value; 200,000,000 shares authorized; 41,784,601 shares issued and outstanding 4,178 — 4,178 Additional paid-in capital 89,315,525 — 89,315,525 Accumulated deficit (1) (68,339,372) 64,492 (68,274,880) Total stockholders’ equity $ 20,980,331 $ 64,492 $ 21,044,823 Total liabilities and stockholders’ equity $ 31,132,403 $ 1,312 $ 31,133,715 (1) The restatement adjustment reflects a restatement adjustment of $400,217 to the As Previously Reported accumulated deficit balance and a restatement adjustment of $(335,725) to the year-to-date net loss. IZEA Worldwide, Inc. Unaudited Consolidated Statements of Operations and Comprehensive Loss Three Months Ended June 30, 2020 As Previously Reported Restatement Adjustment As Restated Revenue $ 3,135,039 $ (85,222) $ 3,049,817 Costs and expenses: Cost of revenue 1,414,249 (36,450) 1,377,799 Sales and marketing 1,228,691 — 1,228,691 General and administrative 1,920,492 — 1,920,492 Depreciation and amortization 377,107 — 377,107 Total costs and expenses 4,940,539 (36,450) 4,904,089 Loss from operations (1,805,500) (48,772) (1,854,272) Other income (expense): Interest expense (19,476) — (19,476) Other income 33,834 — 33,834 Total other income (expense), net 14,358 — 14,358 Net loss $ (1,791,142) $ (48,772) $ (1,839,914) Weighted average common shares outstanding basic and diluted 36,108,073 — 36,108,073 Basic and diluted loss per common share $ (0.05) $ — $ (0.05) IZEA Worldwide, Inc. Unaudited Consolidated Statements of Operations and Comprehensive Loss Six Months Ended June 30, 2020 As Previously Reported Restatement Adjustment As Restated Revenue $ 7,898,707 $ (524,415) $ 7,374,292 Costs and expenses: Cost of revenue 3,554,766 (188,690) 3,366,076 Sales and marketing 2,751,834 — 2,751,834 General and administrative 4,338,330 — 4,338,330 Impairment of goodwill 4,300,000 — 4,300,000 Depreciation and amortization 878,376 — 878,376 Total costs and expenses 15,823,306 (188,690) 15,634,616 Loss from operations (7,924,599) (335,725) (8,260,324) Other income (expense): Interest expense (26,094) — (26,094) Other income (expense) (3,910) — (3,910) Total other income (expense), net (30,004) — (30,004) Net loss $ (7,954,603) $ (335,725) $ (8,290,328) Weighted average common shares outstanding basic and diluted 35,394,639 — 35,394,639 Basic and diluted loss per common share $ (0.22) $ (0.01) $ (0.23) IZEA Worldwide, Inc. Unaudited Consolidated Statements of Stockholders’ Equity Common Stock Additional Paid-In Capital Accumulated Deficit Total Stockholders’ Equity Shares Amount Balance, March 31, 2020 34,773,051 $ 3,477 $ 74,257,810 $ (66,548,230) $ 7,713,057 Restatement adjustments — — — 113,264 $ 113,264 Balance, March 31, 2020 (As Restated) 34,773,051 $ 3,477 $ 74,257,810 $ (66,434,966) $ 7,826,321 Sale of securities 6,856,241 685 15,361,168 — 15,361,853 Stock purchase plan issuances 10,034 1 2,312 — 2,313 Stock issued for payment of services 97,655 9 31,240 — 31,249 Stock issuance costs — — (455,706) — (455,706) Stock-based compensation 47,620 6 118,701 — 118,707 Net Loss — — — (1,791,142) (1,791,142) Restatement adjustment — — — (48,772) (48,772) Balance, June 30, 2020 41,784,601 $ 4,178 $ 89,315,525 $ (68,274,880) $ 21,044,823 IZEA Worldwide, Inc. Unaudited Statements of Stockholders’ Equity Common Stock Additional Paid-In Capital Accumulated Deficit Total Stockholders’ Equity Shares Amount Balance, December 31, 2019 34,634,172 $ 3,464 $ 74,099,328 $ (59,984,552) $ 14,118,240 Sale of securities 6,856,241 685 15,361,168 — 15,361,853 Stock purchase plan issuances 10,034 1 2,312 — 2,313 Stock issued for payment of services 195,310 19 62,480 — 62,499 Stock issuance costs — — (458,032) — (458,032) Stock-based compensation 88,844 9 248,269 — 248,278 Net Loss — — — (7,954,603) (7,954,603) Restatement adjustment — — — (335,725) (335,725) Balance, June 30, 2020 41,784,601 $ 4,178 $ 89,315,525 $ (68,274,880) $ 21,044,823 IZEA Worldwide, Inc. Unaudited Consolidated Statements of Cash Flows Six Months Ended June 30, 2020 As Previously Reported Restatement Adjustment As Restated Cash flows from operating activities: Net income (loss) $ (7,954,603) $ (335,725) $ (8,290,328) Adjustments to reconcile net loss to net cash provided by (used for) operating activities: Depreciation and amortization 70,207 — 70,207 Amortization of software development costs and other intangible assets 808,169 — 808,169 Stock-based compensation 248,278 — 248,278 Fair value of stock issued for payment of services 62,499 — 62,499 Impairment of goodwill 4,300,000 — 4,300,000 (Gain) loss on disposal of equipment (23,706) — (23,706) Provision for losses on accounts receivable 107,315 — 107,315 Changes in operating assets and liabilities: Accounts receivable 2,436,269 — 2,436,269 Prepaid expenses and other current assets (53,972) 10,199 (43,773) Security deposits 111,421 — 111,421 Accounts payable (1,229,576) (119,699) (1,349,275) Accrued expenses (101,561) — (101,561) Contract liabilities (625,502) 445,225 (180,277) Right-of-use asset and lease liability, net 24,024 — 24,024 Net cash used for operating activities (1,820,738) — (1,820,738) Cash flows from investing activities: Purchase of equipment (3,287) — (3,287) Proceeds from sale of equipment 27,487 — 27,487 Software development costs (97,129) — (97,129) Net cash used for investing activities (72,929) — (72,929) Cash flows from financing activities: Proceeds from the sale of securities 15,361,853 — 15,361,853 Proceeds from stock purchase plan and option exercise issuances 2,313 — 2,313 Proceeds from notes payable 1,934,587 — 1,934,587 Payments on finance obligation (11,410) — (11,410) Stock issuance costs (458,032) — (458,032) Net cash provided by financing activities 16,829,311 — 16,829,311 Net increase (decrease) in cash and cash equivalents 14,935,644 — 14,935,644 Cash and cash equivalents, beginning of year 5,884,629 — 5,884,629 Cash and cash equivalents, end of period $ 20,820,273 $ — $ 20,820,273 Supplemental cash flow information: Interest paid 36,594 — 36,594 Non-cash financing and investing activities: Acquisition of assets through finance lease 43,003 — 43,003 Fair value of common stock issued for future services 125,000 — 125,000 IZEA Worldwide, Inc. Unaudited Consolidated Balance Sheets As of September 30, 2020 As Previously Reported Restatement Adjustment As Restated Assets Current assets: Cash and cash equivalents $ 30,617,921 $ — $ 30,617,921 Accounts receivable, net 3,981,132 — 3,981,132 Prepaid expenses 385,128 29,567 414,695 Other current assets 140,291 — 140,291 Total current assets $ 35,124,472 $ 29,567 $ 35,154,039 Property and equipment, net 260,994 — 260,994 Goodwill 4,016,722 — 4,016,722 Intangible assets, net 768,879 — 768,879 Software development costs, net 1,480,288 — 1,480,288 Total assets $ 41,651,355 $ 29,567 $ 41,680,922 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable 1,333,281 409,727 1,743,008 Accrued expenses 1,267,553 — 1,267,553 Contract liabilities 7,028,687 (567,112) 6,461,575 Current portion of notes payable 1,157,103 — 1,157,103 Total current liabilities $ 10,786,624 $ (157,385) $ 10,629,239 Finance obligation, less current portion 65,604 — 65,604 Notes payable, less current portion 778,092 — 778,092 Total liabilities $ 11,630,320 $ (157,385) $ 11,472,935 Stockholders’ Equity Common stock; $.0001 par value; 200,000,000 shares authorized; 48,331,379 shares issued and outstanding 4,833 — 4,833 Additional paid-in capital 99,610,374 — 99,610,374 Accumulated deficit (1) (69,594,172) 186,952 (69,407,220) Total stockholders’ equity $ 30,021,035 $ 186,952 $ 30,207,987 Total liabilities and stockholders’ equity $ 41,651,355 $ 29,567 $ 41,680,922 (1) The restatement adjustment reflects a restatement adjustment of $400,217 to the As Previously Reported accumulated deficit balance and a restatement adjustment of $(213,265) to the year-to-date net loss. IZEA Worldwide, Inc. Unaudited Consolidated Statements of Operations and Comprehensive Loss Three Months Ended September 30, 2020 As Previously Reported Restatement Adjustment As Restated Revenue $ 4,036,120 $ 171,434 $ 4,207,554 Costs and expenses: Cost of revenue 1,701,770 48,974 1,750,744 Sales and marketing 1,403,037 — 1,403,037 General and administrative 1,827,267 — 1,827,267 Depreciation and amortization 372,483 — 372,483 Total costs and expenses 5,304,557 48,974 5,353,531 Loss from operations $ (1,268,437) $ 122,460 $ (1,145,977) Other income (expense): Interest expense (16,448) — (16,448) Other income 30,085 — 30,085 Total other income (expense) 13,637 — 13,637 Net loss $ (1,254,800) $ 122,460 $ (1,132,340) Weighted average common shares outstanding - basic and diluted 45,772,638 — 45,772,638 Basic and diluted loss per common share $ (0.03) $ 0.01 $ (0.02) IZEA Worldwide, Inc. Unaudited Consolidated Statements of Operations and Comprehensive Loss Nine Months Ended September 30, 2020 As Previously Reported Restatement Adjustment As Restated Revenue $ 11,934,827 $ (352,981) $ 11,581,846 Costs and expenses: Cost of revenue 5,256,536 (139,716) 5,116,820 Sales and marketing 4,154,871 — 4,154,871 General and administrative 6,165,597 — 6,165,597 Impairment of goodwill 4,300,000 — 4,300,000 Depreciation and amortization 1,250,859 — 1,250,859 Total costs and expenses 21,127,863 (139,716) 20,988,147 Loss from operations $ (9,193,036) $ (213,265) $ (9,406,301) Other income (expense): Interest expense (42,542) — (42,542) Other income 26,175 — 26,175 Total other income (expense) (16,367) — (16,367) Net loss $ (9,209,403) $ (213,265) $ (9,422,668) Weighted average common shares outstanding - basic and diluted 38,879,218 — 38,879,218 Basic and diluted loss per common share $ (0.24) $ — $ (0.24) IZEA Worldwide, Inc. Unaudited Consolidated Statements of Stockholders’ Equity Common Stock Additional Paid-In Capital Accumulated Deficit Total Stockholders’ Equity Shares Amount Balance, June 30, 2020 41,784,601 $ 4,178 $ 89,315,525 $ (68,339,372) $ 20,980,331 Restatement adjustment — — — 64,492 64,492 Balance, June 30, 2020 41,784,601 $ 4,178 $ 89,315,525 $ (68,274,880) $ 21,044,823 Sale of securities 6,401,931 641 10,377,799 — 10,378,440 Stock purchase plan issuances — — — — — Stock issued for payment of services 97,655 10 31,240 — 31,250 Stock issuance costs — — (222,754) — (222,754) Stock-based compensation 47,192 4 108,564 — 108,568 Net Loss — — — (1,254,800) (1,254,800) Restatement adjustment — — — 122,460 122,460 Balance, September 30, 2020 48,331,379 $ 4,833 $ 99,610,374 $ (69,407,220) $ 30,207,987 IZEA Worldwide, Inc. Unaudited Consolidated Statements of Stockholders’ Equity Common Stock Additional Paid-In Capital Accumulated Deficit Total Stockholders’ Equity Shares Amount Balance, December 31, 2019 34,634,172 $ 3,464 $ 74,099,328 $ (59,984,552) $ 14,118,240 Sale of securities 13,258,172 1,326 25,738,967 — 25,740,293 Stock purchase plan issuances 10,034 1 2,312 — 2,313 Stock issued for payment of services 292,965 29 93,720 — 93,749 Stock issuance costs — — (680,786) — (680,786) Stock-based compensation 136,036 13 356,833 — 356,846 Net Loss — — — (9,209,403) (9,209,403) Restatement adjustment — — — (213,265) (213,265) Balance, September 30, 2020 48,331,379 $ 4,833 $ 99,610,374 $ (69,407,220) $ 30,207,987 IZEA Worldwide, Inc. Unaudited Consolidated Statements of Cash Flows Nine Months Ended September 30, 2020 As Previously Reported Restatement Adjustment As Restated Cash flows from operating activities: Net income (loss) $ (9,209,403) $ (213,265) $ (9,422,668) Adjustments to reconcile net loss to net cash provided by (used for) operating activities: Depreciation and amortization 102,495 — 102,495 Amortization of software development costs and other intangible assets 1,148,364 — 1,148,364 Stock-based compensation 356,846 — 356,846 Fair value of stock issued for payment of services 93,749 — 93,749 Impairment of goodwill 4,300,000 — 4,300,000 (Gain) loss on disposal of equipment (22,423) — (22,423) Provision for losses on accounts receivable 108,381 — 108,381 Changes in operating assets and liabilities: Accounts receivable 1,507,206 — 1,507,206 Prepaid expenses and other current assets (80,038) (18,057) (98,095) Security deposits 151,803 — 151,803 Accounts payable (919,255) 22,249 (897,006) Accrued expenses (121,665) — (121,665) Contract liabilities 561,921 209,073 770,994 Right-of-use asset and lease liability, net 24,024 — 24,024 Net cash used for operating activities (1,997,995) — (1,997,995) Cash flows from investing activities: Purchase of equipment (17,290) — (17,290) Proceeds from sale of equipment 29,007 — 29,007 Software development costs (266,035) — (266,035) Net cash used for investing activities (254,318) — (254,318) Cash flows from financing activities: Proceeds from the sale of securities 25,740,293 — 25,740,293 Proceeds from stock purchase plan and option exercise issuances 2,313 — 2,313 Proceeds from notes payable 1,935,195 — 1,935,195 Payments on finance obligation (11,410) — (11,410) Stock issuance costs (680,786) — (680,786) Net cash provided by financing activities 26,985,605 — 26,985,605 Net increase (decrease) in cash and cash equivalents 24,733,292 — 24,733,292 Cash and cash equivalents, beginning of year 5,884,629 — 5,884,629 Cash and cash equivalents, end of period $ 30,617,921 $ — $ 30,617,921 Supplemental cash flow information: Interest paid 39,834 — 39,834 Non-cash financing and investing activities: Acquisition of assets through finance lease 43,003 — 43,003 Fair value of common stock issued for future services 125,000 — 125,000 IZEA Worldwide, Inc. Unaudited Consolidated Balance Sheets As of March 31, 2021 As Previously Reported Revision Adjustment As Revised Assets Current assets: Cash and cash equivalents $ 65,465,588 $ — $ 65,465,588 Accounts receivable, net 4,071,940 — 4,071,940 Prepaid expenses 380,407 6,601 387,008 Other current assets 48,340 — 48,340 Total current assets $ 69,966,275 $ 6,601 $ 69,972,876 Property and equipment, net 219,563 — 219,563 Goodwill 4,016,722 — 4,016,722 Intangible assets, net 288,889 — 288,889 Software development costs, net 1,356,308 — 1,356,308 Total assets $ 75,847,757 $ 6,601 $ 75,854,358 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable 1,675,520 348,241 2,023,761 Accrued expenses 1,680,722 — 1,680,722 Contract liabilities 7,222,120 (582,970) 6,639,150 Current portion of notes payable 1,797,976 — 1,797,976 Total current liabilities $ 12,376,338 $ (234,729) $ 12,141,609 Finance obligation, less current portion 34,292 — 34,292 Notes payable, less current portion 138,900 — 138,900 Total liabilities $ 12,549,530 $ (234,729) $ 12,314,801 Stockholders’ Equity Common stock; $.0001 par value; 200,000,000 shares authorized; 59,123,449 shares issued and outstanding 5,912 — 5,912 Additional paid-in capital 135,919,529 — 135,919,529 Accumulated deficit (1) (72,627,214) 241,330 (72,385,884) Total stockholders’ equity $ 63,298,227 $ 241,330 $ 63,539,557 Total liabilities and stockholders’ equity $ 75,847,757 $ 6,601 $ 75,854,358 (1) The revision adjustment reflects a revision adjustment of $141,829 to the As Previously Reported accumulated deficit balance and a revision adjustment of $99,501 to the year-to-date net loss. IZEA Worldwide, Inc. Unaudited Consolidated Statements of Operations and Comprehensive Loss Three Months Ended March 31, 2021 As Previously Reported Revision Adjustment As Revised Revenue $ 5,375,632 $ 152,534 $ 5,528,166 Costs and expenses: Cost of revenue 2,404,752 53,033 2,457,785 Sales and marketing 2,078,323 — 2,078,323 General and administrative 2,535,147 — 2,535,147 Depreciation and amortization 365,529 — 365,529 Total costs and expenses 7,383,751 53,033 7,436,784 Loss from operations $ (2,008,119) $ 99,501 $ (1,908,618) Other income (expense): Interest expense (13,793) — (13,793) Other income 29,474 — 29,474 Total other income (expense) 15,681 — 15,681 Net loss $ (1,992,438) $ 99,501 $ (1,892,937) Weighted average common shares outstanding - basic and diluted 56,334,219 — 56,334,219 Basic and diluted loss per common share $ (0.04) $ 0.01 $ (0.03) IZEA Worldwide, Inc. Unaudited Consolidated Statements of Stockholders’ Equity Common Stock Additional Paid-In Capital Accumulated Deficit Total Stockholders’ Equity Shares Amount Balance, December 31, 2020 50,050,167 $ 5,005 $ 102,416,131 $ (70,492,947) $ 31,928,189 Sale of securities 8,701,691 870 34,357,142 — 34,358,012 Stock purchase plan issuances 1,510 — 2,144 — 2,144 Stock issued for payment of services 7,176 1 34,695 — 34,696 Stock issuance costs — — (746,957) — (746,957) Stock-based compensation 526,903 52 197,934 — 197,986 Shares withheld to cover statutory taxes (163,998) (16) (341,560) — (341,576) Net Loss — — — (1,992,438) (1,992,438) Revision adjustment — $ — $ — 99,501 99,501 Balance, March 31, 2021 59,123,449 $ 5,912 $ 135,919,529 $ (72,385,884) $ 63,539,557 IZEA Worldwide, Inc. Unaudited Consolidated Statements of Cash Flows Three Months Ended March 31, 2021 As Previously Reported Revision Adjustment As Revised Cash flows from operating activities: Net income (loss) $ (1,992,438) $ 99,501 $ (1,892,937) Adjustments to reconcile net loss to net cash provided by (used for) operating activities: Depreciation and amortization 32,486 — 32,486 Amortization of software development costs and other intangible assets 333,043 — 333,043 Stock-based compensation 197,986 — 197,986 Fair value of stock issued for payment of services 34,696 — 34,696 (Gain) loss on disposal of equipment (7,914) — (7,914) Changes in operating assets and liabilities: Accounts receivable 1,135,265 — 1,135,265 Prepaid expenses and other current assets (154,986) 20,664 (134,322) Accounts payable (204,624) (82,589) (287,213) Accrued expenses (245,077) — (245,077) Contract liabilities 41,856 (37,576) 4,280 Net cash used for operating activities (829,707) — (829,707) Cash flows from investing activities: Purchase of equipment (22,109) — (22,109) Proceeds from sale of equipment 8,892 — 8,892 Net cash used for investing activities (13,217) — (13,217) Cash flows from financing activities: Proceeds from the sale of securities 34,358,012 — 34,358,012 Proceeds from stock purchase plan and option exercise issuances 2,144 — 2,144 Payments on finance obligation (8,336) — (8,336) Stock issuance costs (746,957) — (746,957) Payments on shares withheld for statutory taxes (341,576) — (341,576) Net cash provided by financing activities 33,263,287 — 33,263,287 Net increase (decrease) in cash and cash equivalents 32,420,363 — 32,420,363 Cash and cash equivalents, beginning of year 33,045,225 — 33,045,225 Cash and cash equivalents, end of period $ 65,465,588 $ — $ 65,465,588 Supplemental cash flow information: Interest paid 4,792 — 4,792 Non-cash financing and investing activities: Fair value of common stock issued for future services 147,329 — $ 147,329 IZEA Worldwide, Inc. Unaudited Consolidated Balance Sheets As of June 30, 2021 As Previously Reported Revision Adjustment As Revised Assets Current assets: Cash and cash equivalents $ 74,989,876 $ — $ 74,989,876 Accounts receivable, net 6,132,949 — 6,132,949 Prepaid expenses 1,006,643 20,502 1,027,145 Other current assets 62,694 — 62,694 Total current assets $ 82,192,162 $ 20,502 $ 82,212,664 Property and equipment, net 193,786 — 193,786 Goodwill 4,016,722 — 4,016,722 Intangible assets, net 72,222 — 72,222 Software development costs, net 1,242,252 — 1,242,252 Total assets $ 87,717,144 $ 20,502 $ 87,737,646 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable 1,624,725 282,664 1,907,389 Accrued expenses 2,097,474 — 2,097,474 Contract liabilities 8,654,765 (456,773) 8,197,992 Total current liabilities $ 12,376,964 $ (174,109) $ 12,202,855 Finance obligation, less current portion 34,292 — 34,292 Notes payable, less current portion 32,255 — 32,255 Total liabilities $ 12,443,511 $ (174,109) $ 12,269,402 Stockholders’ Equity Common stock; $.0001 par value; 200,000,000 shares authorized; 61,809,573 shares issued and outstanding 6,181 — 6,181 Additional paid-in capital 148,006,352 — 148,006,352 Accumulated deficit (1) (72,738,900) 194,611 (72,544,289) Total stockholders’ equity $ 75,273,633 $ 194,611 $ 75,468,244 Total liabilities and stockholders’ equity $ 87,717,144 $ 20,502 $ 87,737,646 (1) The revision adjustment reflects a revision adjustment of $141,829 to the As Previously Reported accumulated deficit balance and a revision adjustment of $52,782 to the year-to-date net loss. IZEA Worldwide, Inc. Unaudited Consolidated Statements of Operations and Comprehensive Loss Three Months Ended June 30, 2021 As Previously Reported Revision Adjustment As Revised Revenue $ 6,538,739 $ (122,288) $ 6,416,451 Costs and expenses: Cost of revenue 3,284,259 (75,569) 3,208,690 Sales and marketing 2,302,869 — 2,302,869 General and administrative 2,659,578 — 2,659,578 Depreciation and amortization 363,924 — 363,924 Total costs and expenses 8,610,630 (75,569) 8,535,061 Loss from operations $ (2,071,891) $ (46,719) $ (2,118,610) Other income (expense): Interest expense (8,739) — (8,739) Other income 1,968,944 — 1,968,944 Total other income (expense) 1,960,205 — 1,960,205 Net loss $ (111,686) $ (46,719) $ (158,405) Weighted average common shares outstanding - basic and diluted 61,386,913 — 61,386,913 Basic and diluted loss per common share $ — $ — $ — IZEA Worldwide, Inc. Unaudited Consolidated Statements of Operations and Comprehensive Loss Six Months Ended June 30, 2021 As Previously Reported Revision Adjustment As Revised Revenue $ 11,914,371 $ 30,246 $ 11,944,617 Costs and expenses: Cost of revenue 5,689,011 (22,536) 5,666,475 Sales and marketing 4,381,192 — 4,381,192 General and administrative 5,194,725 — 5,194,725 Depreciation and amortization 729,453 — 729,453 Total costs and expenses 15,994,381 (22,536) 15,971,845 Loss from operations $ (4,080,010) $ 52,782 $ (4,027,228) Other income (expense): Interest expense (22,532) — (22,532) Other income 1,998,418 — 1,998,418 Total other income (expense) 1,975,886 — 1,975,886 Net loss $ (2,104,124) $ 52,782 $ (2,051,342) Weighted average common shares outstanding - basic and diluted 58,874,526 — 58,874,526 Basic and diluted loss per common share $ (0.04) $ 0.01 $ (0.03) IZEA Worldwide, Inc. Unaudited Consolidated Statements of Stockholders’ Equity Common Stock Additional Paid-In Capital Accumulated Deficit Total Stockholders’ Equity Shares Amount Balance, March 31, 2021 59,123,449 $ 5,912 $ 135,919,529 $ (72,627,214) $ 63,298,227 Revision adjustment — — — 241,330 241,330 Balance, March 31, 2021 (As Revised) 59,123,449 $ 5,912 $ 135,919,529 $ (72,385,884) $ 63,539,557 Sale of securities 2,484,393 249 12,186,427 — 12,186,676 Stock purchase plan issuances 135,141 14 45,928 — 45,942 Stock issued for payment of services 7,716 — 37,544 — 37,544 Stock issuance costs — — (333,878) — (333,878) Stock-based compensation 77,420 8 206,186 — 206,194 Shares withheld to cover statutory taxes (18,546) (2) (55,384) — (55,386) Net Loss — — — (111,686) (111,686) Revision adjustment — — — (46,719) (46,719) Balance, June 30, 2021 61,809,573 $ 6,181 $ 148,006,352 $ (72,544,289) $ 75,468,244 IZEA Worldwide, Inc. Unaudited Consolidated Statements of Stockholders’ Equity Common Stock Additional Paid-In Capital Accumulated Deficit Total Stockholders’ Equity Shares Amount Balance, December 31, 2020 50,050,167 $ 5,005 $ 102,416,131 $ (70,492,947) $ 31,928,189 Sale of securities 11,186,084 1,119 46,543,569 — 46,544,688 Stock purchase plan issuances 136,651 14 48,072 — 48,086 Stock issued for payment of services 14,892 1 72,239 — 72,240 Stock issuance costs — — (1,080,835) — (1,080,835) Stock-based compensation 604,323 60 404,120 — 404,180 Shares withheld to cover statutory taxes (182,544) (18) (396,944) — (396,962) Net Loss — — — (2,104,124) (2,104,124) Revision adjustment — — — 52,782 52,782 Balance, June 30, 2021 61,809,573 $ 6,181 $ 148,006,352 $ (72,544,289) $ 75,468,244 IZEA Worldwide, Inc. Unaudited Consolidated Statements of Cash Flows Six Months Ended June 30, 2021 As Previously Reported Revision Adjustment As Revised Cash flows from operating activities: Net income (loss) $ (2,104,124) $ 52,782 $ (2,051,342) Adjustments to reconcile net loss to net cash provided by (used for) operating activities: (Gain) on the forgiveness of debt (1,927,220) — (1,927,220) Depreciation and amortization 65,687 — 65,687 Amortization of software development costs and other intangible assets 663,766 — 663,766 Stock-based compensation 404,180 — 404,180 Fair value of stock issued for payment of services 72,240 — 72,240 (Gain) loss on disposal of equipment (7,790) — (7,790) Changes in operating assets and liabilities: Accounts receivable (925,744) — (925,744) Prepaid expenses and other current assets (795,576) 6,763 (788,813) Accounts payable (255,419) (148,165) (403,584) Accrued expenses 193,795 — 193,795 Contract liabilities 1,474,501 88,620 1,563,121 Right-of-use asset and lease liability, net — — — Net cash used for operating activities (3,141,704) — (3,141,704) Cash flows from investing activities: Purchase of equipment (29,689) — (29,689) Proceeds from sale of equipment 8,924 — 8,924 Net cash used for investing activities (20,765) — (20,765) Cash flows from financing activities: Proceeds from the sale of securities 46,544,688 — 46,544,688 Proceeds from stock purchase plan and option exercise issuances 48,086 — 48,086 Payments on finance obligation (7,857) — (7,857) Stock issuance costs (1,080,835) — (1,080,835) Payments on shares withheld for statutory taxes (396,962) — (396,962) Net cash provided by financing activities 45,107,120 — 45,107,120 Net increase (decrease) in cash and cash equivalent |
Company and Summary of Signif_2
Company and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Nature of Business [Policy Text Block] | Nature of Business IZEA Worldwide, Inc. (together with its wholly-owned subsidiaries, “we,” “us,” “our,” “IZEA” or the “Company”) is a Nevada corporation that was founded in February 2006 under the name PayPerPost, Inc. and became a public company in May 2011. In January 2015, IZEA purchased all of the outstanding shares of capital stock of Ebyline, Inc. (“Ebyline”). In March 2016, the Company formed IZEA Canada, Inc., a wholly-owned subsidiary, incorporated in Ontario, Canada, to operate as a sales and support office for IZEA’s Canadian customers. In July 2016, IZEA purchased all the outstanding shares of capital stock of ZenContent, Inc. (“ZenContent”) and in July 2018, a subsidiary of the Company merged with TapInfluence, Inc. (“TapInfluence”). ZenContent, Ebyline, and TapInfluence were merged into IZEA and the legal entities were dissolved in December 2017, December 2019, and December 2020, respectively. The Company creates and operates online marketplaces that connect marketers, including brands, agencies, and publishers, with content creators such as Instagram influencers, TikTok influencers, YouTube stars, designers, photographers, and writers (“creators”). Marketers also engage us to gain access to the Company’s industry expertise, data, and analytics. The Company provides value through managing custom content workflow, creator search and targeting, bidding, analytics, and payment processing. While the majority of the marketers engage the Company to perform these services (the “Managed Services”) on their behalf, they may also use its marketplaces to engage creators for influencer marketing campaigns or to produce custom content on a self-service basis by licensing the Company’s technology. The Company’s primary technology platform, the IZEA Exchange (“ IZEAx ”), is designed to provide a unified ecosystem that enables the creation and publication of multiple types of custom content through its creators’ websites, blogs, and social media channels, including, among others, Twitter, Facebook, YouTube, Twitch, and Instagram. The Company extensively uses this platform to manage influencer marketing campaigns on behalf of the Company’s marketers. This platform is also available directly to the Company’s marketers as a self-service tool and a licensed white label product. IZEAx was engineered from the ground up to replace all of its previous platforms with an integrated offering that is improved and more efficient. Until December 2019 when it was merged into IZEAx , the Company operated the Ebyline technology platform, which was originally designed as a self-service content marketplace to replace in-house editorial newsrooms in news agencies with a “virtual newsroom” to source and handle their content workflow with outside creators. In July 2016, the Company acquired the ZenContent technology platform to use as an in-house workflow tool that enables the Company to produce highly scalable, multi-part production of content for both e-commerce entities and brand customers. The TapInfluence technology platform, acquired in 2018, performed in a similar manner to IZEAx and was being utilized by the majority of the TapInfluence customers as a self-service platform via a licensing arrangement, allowing access to the platform and its creators for self-managed marketing campaigns. After the migration of the last customers to IZEAx from the Ebyline platform in December 2019 and from the TapInfluence platform in February 2020, all marketplace revenue was solely generated from the IZEAx platform until the launch of Shake in November 2020. In 2020, the Company launched two new platforms, BrandGraph and Shake . BrandGraph is a social media intelligence platform that is heavily integrated with IZEAx and both platforms rely heavily on data from each other, but it is also available as a stand-alone platform. The platform maps and classifies the complex hierarchy of corporation-to-brand relationships by category and associates social content with brands through a proprietary content analysis engine. Shake is a new online marketplace where buyers can quickly and easily hire creators of all types for influencer marketing, photography, design, and other digital services. The Shake platform is aimed at digital creatives seeking freelance “gig” work. Creator’s list available “Shakes” on their accounts in the platform and marketers select and purchase creative packages from them through a streamlined chat experience, assisted by ShakeBot - a proprietary, artificial intelligence assistant. |
Impact of COVID [Policy Text Block] | Impact of COVID-19 The COVID-19 pandemic impacted the Company’s operations, sales, and finances beginning in 2020. To protect the health and safety of its employees, the Company took precautionary action and directed all staff to work from home effective March 16, 2020. The Company allowed the leases for the Company headquarters and temporary office spaces to expire at the end of their terms throughout 2020. The Company has not experienced any significant declines in operating efficiency in its remote working environment and has decided to continue the work from home policy indefinitely as a virtual-first employer. At the beginning of the pandemic, the Company drew upon a secured credit facility and obtained a loan under the Paycheck Protection Program (“PPP”) established under the CARES Act as administered by the U.S. Small Business Administration (“SBA”) to increase the Company’s cash position and help preserve its financial flexibility. In addition, the Company implemented temporary wage and salary reductions in April 2021. The secured credit facility was paid down by June |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of IZEA Worldwide, Inc. and its wholly-owned subsidiaries, subsequent to the subsidiaries’ individual acquisition, merger or formation dates, as applicable. All significant intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The extent to which COVID-19 impacts the Company’s business and financial results will depend on numerous evolving factors including, but not limited to the magnitude and duration of COVID-19, the extent to which it impacts worldwide macroeconomic conditions, the speed of the anticipated recovery, access to capital markets, and governmental and business reactions to the pandemic. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts of COVID-19 as of December 31, 2021, and through the date of the filing of this Annual Report on Form 10-K. The accounting matters assessed included, but were not limited to estimates related to revenue, the accounting for potential liabilities and accrued expenses, the assumptions utilized in valuing stock-based compensation issued for services, the realization of deferred tax assets, and assessments of impairment related to long-lived assets, intangible assets, and goodwill. The Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in additional material impacts to the Company’s consolidated financial statements in future reporting periods. Despite the Company’s efforts, the ultimate impact of COVID-19 depends on factors beyond the Company’s knowledge or control, including the duration and severity of the outbreak, as well as third-party actions taken to contain its spread and mitigate its public health effects. As a result, the Company is unable to estimate the full extent to which COVID-19 will negatively impact its financial results or liquidity. However, in consideration of the effect of COVID-19 on the assumptions and estimates used in the preparation of the December 31, 2021 financial statements, the Company identified the goodwill impairment disclosed in Note 4 as a material adverse effect on its results of operations and financial position in the first quarter of fiscal 2020 that was caused by COVID-19’s effect on economic conditions. |
Reclassification, Comparability Adjustment | Reclassifications Certain items have been reclassified in 2020 to conform with 2021 financial statement presentation. The Company has reclassified its holdings in digital assets from current assets to intangible assets. The balance was $216,675 and $33,921 at December 31, 2021 and 2020, respectively. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash EquivalentsThe Company considers all highly liquid investments purchased with an original maturity of three months or less from the date of purchase to be cash equivalents. Deposits made to Company bank accounts are insured by the FDIC up to a maximum amount of $250,000. Deposit balances exceeding this limit were approximately $74.9 million and $31.4 million as of December 31, 2021, and 2020, respectively. |
Receivable [Policy Text Block] | Accounts Receivable and Concentration of Credit Risk The Company’s accounts receivable balance consists of trade receivables, unbilled receivables, and a reserve for doubtful accounts. Trade receivables are customer obligations due under normal trade terms. Unbilled receivables represent amounts owed for work that has been performed, but not yet billed. The Company had net trade receivables of $7,577,177 and unbilled receivables of $21,926 at December 31, 2021. The Company had net trade receivables of $5,148,213 and unbilled receivables of $58,992 at December 31, 2020. Management determines the collectability of accounts by regularly evaluating individual customer receivables and considering a customer’s financial condition, credit history, and current economic conditions. An account is deemed delinquent when the customer has not paid an amount due by its associated due date. If a portion of the account balance is deemed uncollectible, the Company will either write off the amount owed or provide a reserve based on its best estimate of the uncollectible portion of the account. The Company had a reserve for doubtful accounts of $155,000 and $155,000 as of December 31, 2021, and December 31, 2020, respectively. Management believes that this estimate is reasonable, but there can be no assurance that the estimate will not change due to a change in economic conditions or business conditions within the |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of credit risk with respect to accounts receivable have been typically limited because a large number of geographically diverse customers make up the Company’s customer base, thus spreading the trade credit risk. However, with the Company’s addition of SaaS customers, it has increased credit exposure on certain customers who carry significant credit balances related to their marketplace spend. The Company controls credit risk through credit approvals, credit limits, and monitoring procedures. The Company performs credit evaluations of its customers but generally does not require collateral to support accounts receivable. The Company had three customers that accounted for 38% of total accounts receivable at December 31, 2021 and zero customers that accounted for more than 10% at December 31, 2020. The Company had one customer that accounted for 14% of its revenue during the twelve months ended December 31, 2021 and one customer that accounted for 13% of its revenue during the twelve months ended December 31, 2020. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are recorded at cost, or if acquired in a business combination, at the acquisition date fair value. Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows: Computer Equipment 3 years Office Equipment 3 - 10 years Furniture and Fixtures 5 - 10 years |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill represents the excess of the consideration transferred for an acquired business over the fair value of the underlying identifiable net assets. The Company has goodwill in connection with its acquisitions of Ebyline, ZenContent, and TapInfluence. Goodwill is not amortized but instead, it is tested for impairment at least annually. In the event that management determines that the value of goodwill has become impaired, the Company will record a charge in an amount equal to the excess of the reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit during the fiscal quarter in which the determination is made. The Company performs its annual impairment tests of goodwill as of October 1 of each year, or more frequently, if certain indicators are present. For instance, in March 2020, the Company identified triggering events, including the reduction in its projected revenue due to adverse economic conditions caused by the COVID-19 pandemic, the continuation of a market capitalization below the Company’s carrying value, and uncertainty for recovery given the volatility of the capital markets surrounding COVID-19. Therefore, the Company performed an interim assessment of goodwill, as described in Note 4. Goodwill is required to be tested for impairment at the reporting unit level. A reporting unit is an operating segment or one level below the operating segment level, which is referred to as a component. Management identifies its reporting units by assessing whether components (i) have discrete financial information available, (ii) engage in business activities, and (iii) whether a segment manager regularly reviews the component’s operating results. Net assets and goodwill of acquired businesses are allocated to the reporting unit associated with the acquired business based on the anticipated organizational structure of the combined entities. If two or more components are deemed economically similar, those components are aggregated into one reporting unit when performing the annual goodwill impairment review. The Company had one reporting unit as of December 31, 2021. |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intangible Assets The Company acquired the majority of its intangible assets through its acquisitions of Ebyline, ZenContent, and TapInfluence. The Company amortized the identifiable intangible assets over periods of 12 to 60 months. See Note 4 for further details. The Company accounts for its digital assets held as indefinite-lived intangible assets in accordance with ASC 350, Intangibles—Goodwill and Other. The Company maintains ownership of and control over its digital assets and may use third-party custodial services to secure them. The digital assets are initially recorded at cost and are subsequently evaluated for any impairment losses incurred since acquisition. The Company reviews long-lived assets, including software development costs and other intangible assets, for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If an |
Software Development Costs, Policy [Policy Text Block] | Software Development Costs In accordance with Accounting Standards Codification (“ASC”) 350-40, Internal Use Software, the Company capitalizes certain internal-use software development costs associated with creating and enhancing internally developed software related to its platforms. Software development activities generally consist of three stages (i) the research and planning stage, (ii) the application and development stage, and (iii) the post-implementation stage. Costs incurred in the research and planning stage and in the post-implementation stage of software development, or other maintenance and development expenses that do not meet the qualification for capitalization, are expensed as incurred. Costs incurred in the application and development stage, including significant enhancements and upgrades, are capitalized. These costs include personnel and related employee benefits expenses for employees or consultants who are directly associated with and who devote time to software projects and external direct costs of materials obtained in developing the software. The Company also capitalizes certain costs associated with cloud computing arrangements ("CCAs"). These software developments, acquired technology, and CCA costs are amortized on a straight-line basis over the estimated useful life of five years upon initial release of the software or additional features. The Company reviews the software development costs for impairment when circumstances indicate that their carrying amounts may not be recoverable. If the carrying value of an asset group is not recoverable, the Company recognizes an impairment loss for the excess of carrying value over the fair value in its consolidated statements of operations. See Note 5 for further details. |
Lessee, Leases [Policy Text Block] | Leases Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) , established a right-of-use model that requires a lessee to record a right-of-use asset and a right-of-use liability on the balance sheet for all leases with terms longer than 12 months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The Company does not record leases on the balance sheet that have a lease term of 12 months or less at the commencement date. |
Revenue [Policy Text Block] | Revenue Recognition The Company generates revenue from four primary sources: (1) revenue from its managed services when a marketer (typically a brand, agency, or partner) pays the Company to provide custom content, influencer marketing, amplification, or other campaign management services (“Managed Services”); (2) revenue from fees charged to software customers on their marketplace spend within the Company's IZEAx and Shake platforms (“Marketplace Spend Fees”); (3) revenue from license and subscription fees charged to access the IZEAx and BrandGraph platforms (“License Fees”); and, (4) revenue derived from other fees such as inactivity fees, early cash-out fees, and other miscellaneous fees charged to users of the Company's platforms (“Other Fees”). The Company recognizes revenue in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (“ASC 606”). Under ASC 606, revenue is recognized based on a five-step model as follows: (i) identify the contract with the customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) performance obligations are satisfied. The core principle of ASC 606 is that revenue is recognized when the transfer of promised goods or services to customers is made in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company applies the five-step model to contracts when it is probable that it will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are distinct performance obligations. The Company also determines whether it acts as an agent or a principal for each identified performance obligation. The determination of whether the Company acts as principal or agent is highly subjective and requires the Company to evaluate a number of indicators individually and as a whole in order to make its determination. For transactions in which the Company acts as a principal, revenue is reported on a gross basis as the amount paid by the marketer for the purchase of content or sponsorship, promotion, and other related services and the Company records the amounts it pays to third-party creators as cost of revenue. For transactions in which the Company acts as an agent, revenue is reported on a net basis as the amount the Company charged to the self-service marketer using the Company’s platforms, less the amounts paid to the third-party creators providing the service. The Company maintains separate arrangements with each marketer and content creator either in the form of a master agreement or terms of service, which specify the terms of the relationship and access to its platforms or by statement of work, which specifies the price and the services to be performed, along with other terms. The transaction price is determined based on the fixed fee stated in the statement of work and does not contain variable consideration. Marketers who contract with the Company to manage their advertising campaigns or custom content requests may prepay for services or request credit terms. Payment terms are typically 30 days from the invoice date. The agreement typically provides for either a non-refundable deposit or a cancellation fee if the agreement is canceled by the customer prior to completion of services. Billings in advance of completed services are recorded as a contract liability until earned. The Company assesses collectability based on several factors, including the creditworthiness of the customer and payment and transaction history. Managed Services Revenue For Managed Services Revenue, the Company enters into an agreement to provide services that may include multiple distinct performance obligations in the form of (i) an integrated marketing campaign to provide influencer marketing services, which may include the provision of blogs, tweets, photos, or videos shared through social network offerings and content promotion, such as click-through advertisements appearing in websites and social media channels, and (ii) custom content items, such as a research or news article, informational material or videos. Marketers typically purchase influencer marketing services to provide public awareness or advertising buzz regarding the marketer’s brand and purchase custom content for internal and external use. The Company may provide one type or a combination of all types of these performance obligations on a statement of work for a lump sum fee. The Company allocates revenue to each performance obligation in the contract at inception based on its relative standalone selling price. These performance obligations are to be provided over a stated period that generally ranges from one day to one year. Revenue is accounted for when the performance obligation has been satisfied depending on the type of service provided. The Company views its obligation to deliver influencer marketing services, including management services, as a single performance obligation that is satisfied over time as the customer receives the benefits from the services. Revenue is recognized using an input method of costs incurred compared to total expected costs to measure the progress towards satisfying the overall performance obligation of the marketing campaign. The delivery of custom content represents a distinct performance obligation that is satisfied over time as the Company has no alternative for the custom content, and the Company has an enforceable right to payment for performance completed to date under the contracts. The Company considers custom content to be a series of distinct services that are substantially the same and that have the same pattern of transfer to the customer, and revenue is recognized over time using an output method based on when each individual piece of content is delivered to the customer. Based on the Company’s evaluations, revenue from Managed Services is reported on a gross basis because the Company has the primary obligation to fulfill the performance obligations and it creates, reviews, and controls the services. The Company takes on the risk of payment to any third-party creators, and it establishes the contract price directly with its customers based on the services requested in the statement of work. Marketplace Spend Fees Revenue For Marketplace Spend Fees Revenue, the self-service customers instruct creators found through the Company’s IZEAx and Shake platforms to provide and/or distribute custom content for an agreed-upon transaction price. The Company’s platforms control the contracting, description of services, acceptance of, and payment for the requested content. This service is used primarily by news agencies or marketers to control the outsourcing of their content and advertising needs. The Company charges the self-service customer the transaction price plus a fee based on the contract. Revenue is recognized when the transaction is completed by the creator and accepted by the marketer or verified as posted by the system. Based on the Company’s evaluations, this revenue is reported on a net basis since the Company is acting as an agent through its platform for the third-party creator to provide the services or content directly to the self-service customer or to post approved content through one or more social media platforms. License Fees Revenue License Fees Revenue is generated through the granting of limited, non-exclusive, non-transferable licenses to customers for the use of the IZEAx, BrandGraph, and until February 2020, the TapInfluence technology platforms for an agreed-upon subscription period. Customers license the platforms to manage their own influencer marketing campaigns. Fees for subscription or licensing services are recognized straight-line over the term of the service. Other Fees Revenue Other Fees Revenue is generated when fees are charged to the Company’s platform users primarily related to monthly plan fees, inactivity fees, and early cash-out fees. Plan fees are recognized within the month they relate to, inactivity fees are one |
Advertising Cost [Policy Text Block] | dvertising CostsAdvertising costs are charged to expense as they are incurred, including payments to content creators to promote the Company. Advertising costs charged to operations for the twelve months ended December 31, 2021, and 2020 were approximately $2.0 million and $0.7 million, respectively. Advertising costs are included in sales and marketing expense in the accompanying consolidated statements of operations. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company has not recorded federal income tax expense due to its history of net operating losses. Deferred income taxes are accounted for using the balance sheet approach, which requires recognition of deferred tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting basis and the tax basis of assets and liabilities. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. The Company incurs minimal state franchise tax in four states, which is included in general and administrative expense in the consolidated statements of operations and comprehensive loss. The Company identifies and evaluates uncertain tax positions, if any, and recognizes the impact of uncertain tax positions for which there is a less than more-likely-than-not probability of the position being upheld when reviewed by the relevant taxing authority. Such positions are deemed to be unrecognized tax benefits and a corresponding liability is established on the balance sheet. The Company has not recognized a liability for uncertain tax positions. If there were an unrecognized tax benefit, the Company would recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company’s tax years subject to examination by the Internal Revenue Service are 2016 through 2019. In March 2020, the CARES Act was signed into law. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer-side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, increased limitations on qualified charitable contributions, and technical corrections to tax depreciation methods for qualified improvement property. It also appropriated funds for the PPP loans that are forgivable in certain situations to promote continued employment, as well as Economic Injury Disaster Loans to provide liquidity to small businesses harmed by COVID-19. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The Company’s financial instruments are recorded at fair value. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The valuation techniques are based on observable and unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect certain market assumptions. There are three levels of inputs that may be used to measure fair value: • Level 1 – Valuation based on quoted market prices in active markets for identical assets and liabilities. • Level 2 – Valuation based on quoted market prices for similar assets and liabilities in active markets. • Level 3 – Valuation based on unobservable inputs that are supported by little or no market activity, therefore requiring management’s best estimate of what market participants would use as fair value. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management. As of December 31, 2021, the Company does not have any Level 1, 2, or 3 financial assets or liabilities. |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation Stock-based compensation cost related to stock options granted under the 2011 Equity Incentive Plan, as amended, and the 2011 B Equity Incentive Plan (together, the “2011 Equity Incentive Plans”) (see Note 9) is measured at the grant date, based on the fair value of the award, and is recognized as expense over the employee’s requisite service period on a straight-line basis. The Company estimates the fair value of each option award on the date of grant using a Black-Scholes option-pricing model that uses the assumptions noted in the table below. The Company uses the simplified method to estimate the expected term of employee stock options because it does not believe historical exercise data will provide a reasonable basis for estimating the expected term for the current share options granted. The simplified method assumes that employees will exercise share options evenly between the period when the share options are vested and ending on the date when the options would expire. The Company uses the closing stock price of its common stock on the date of the grant as the associated fair value of its common stock. For issuances after June 30, 2019, the Company estimates the volatility of its common stock at the date of grant based on the volatility of its stock during the period. For issuances on or prior to June 30, 2019, the Company estimated the volatility of its common stock at the date of grant based on the volatility of comparable peer companies that were publicly traded and had a longer trading history than the Company. The Company uses the risk-free interest rate on the implied yield currently available on U.S. Treasury issues with an equivalent remaining term approximately equal to the expected life of the award. The Company has never paid any cash dividends on its common stock and does not anticipate paying any cash dividends in the foreseeable future. The Company used the following assumptions for stock options granted under the 2011 Equity Incentive Plans during the twelve months ended December 31, 2021, and 2020: Twelve Months Ended 2011 Equity Incentive Plans Assumptions December 31, December 31, Expected term 6 years 6 years Weighted average volatility 120.18% 108.58% Weighted average risk-free interest rate 0.98% 0.46% Expected dividends — — Weighted average expected forfeiture rate 11.74% 7.72% The Company estimates forfeitures when recognizing compensation expense and this estimate of forfeitures is adjusted over the requisite service period based on the extent to which actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized through a cumulative catch-up adjustment, which is recognized in the period of change, and a revised amount of unamortized compensation expense to be recognized in future periods. The Company may issue shares of restricted stock or restricted stock units that vest over future periods. The value of shares is recorded as the fair value of the stock or units upon the issuance date and is expensed on a straight-line basis over the vesting period. See Note 9 for additional information related to these shares. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements Recently Adopted Accounting Pronouncements Income Taxes: In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The Company adopted ASU 2019-12 on January 1, 2021 with no material impact on its current reporting in the Company’s consolidated financial statements. Investments - Equity Securities: In January 2020, the FASB issued ASU No. 2020-01, Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, 323 and Topic 815 (“ASU 2020-01”) to clarify the scope and interaction between these standards for equity securities, equity method and certain derivatives. The Company adopted ASU No. 2020-01 on January 1, 2021 with no material impact on its current reporting in the Company’s consolidated financial statements. Reference Rate Reform: In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”) , and further issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope (“ASU 2021-01”), in January 2021 to provide optional guidance for a limited time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. ASU 2020-04 and ASU 2021-01 also provide optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions impacted by reference rate reform if certain criteria are met. Additionally, they only apply to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. ASU 2020-04 is effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. As of December 31, 2021, the Company does not have any contracts that reference LIBOR rates and this guidance has not had a material impact on its financial statements. Codification Improvements: In October 2020, the FASB issued ASU No. 2020-08, Codification Improvements to Subtopic 310-20, Receivables - Nonrefundable Fees and Other Costs ("ASU 2020-08"), and ASU No. 2020-10, Codification Improvements ("ASU 2020-10"). ASU 2020-08 and ASU 2020-10 provide changes to clarify or improve existing guidance. The Company adopted ASU No. 2020-08 and ASU No. 2020-10 on January 1, 2021, with no material impact on its current reporting in the Company’s consolidated financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted Credit Losses : In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 replaces the incurred loss impairment methodology under current GAAP with a methodology that reflects expected credit losses and requires a consideration of a broader range of reasonable and supportable information to inform credit loss estimates. ASU 2016-13 requires the use of a forward-looking expected credit loss model for accounts receivables, loans, and other financial instruments. In May 2019, the FASB issued ASU 2019-05, which provides transition relief for entities adopting ASU 2016-13. For entities that have adopted ASU 2016-13, the amendments in ASU 2019-05 are effective for fiscal years beginning after December 15, 2019, including interim periods therein. An entity may early adopt ASU No. 2019-05 in any interim period after its issuance if the entity has adopted ASU 2016-13. For all other entities, the effective date will be the same as the effective date of ASU 2016-13. ASU 2016-13 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is currently evaluating the expected impact of adopting ASU 2016-13 on its consolidated financial statements and disclosures. Convertible Instruments: In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”). ASU 2020-06 simplifies the guidance on the issuer’s accounting for convertible debt instruments by removing the separation models for (1) convertible debt with a cash conversion feature and (2) convertible instruments with a beneficial conversion feature. As a result, entities will not separately present in equity an embedded conversion feature in such debt. Instead, they will account for a convertible debt instrument wholly as debt, unless certain other conditions are met. The elimination of these models will reduce reported interest expense and increase reported net income for entities that have issued a convertible instrument that was within the scope of those models before the adoption of ASU 2020-06. Also, ASU 2020-06 requires the application of the if-converted method for calculating diluted earnings per share and the treasury stock method will be no longer available. The provisions of ASU 2020-06 are applicable for the Company as a smaller reporting company for fiscal years beginning after December 15, 2023, with early adoption permitted no earlier than fiscal years beginning after December 15, 2020. The Company is currently evaluating the impact of ASU 2020-06 on its consolidated financial statements and related disclosures. Accounting for Contract Assets and Contract Liabilities from Contracts with Customers: In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”). Under ASU 2021-08, an acquirer in a business combination must apply ASC 606 principles when recognizing and measuring acquired contract assets and contract liabilities. The provisions of ASU 2021-08 are applicable for the Company for fiscal years and interim periods beginning after December 15, 2022. The Company is currently evaluating the impact of ASU 2021-08 on its consolidated financial statements and related disclosures. |
Derivatives, Reporting of Derivative Activity | Derivative Financial Instruments Derivative financial instruments are defined as financial instruments or other contracts that contain a notional amount and one or more underlying factors (e.g., interest rate, security price or other variable), require no initial net investment and permit net settlement. Derivative financial instruments may be free-standing or embedded in other financial instruments. Further, derivative financial instruments are initially, and subsequently, measured at fair value and recorded as liabilities or assets. The Company accounts for derivative instruments in accordance with ASC 815, Derivatives and Hedging (“ASC 815”), which requires additional disclosures about the Company’s objectives and strategies for using derivative instruments, how the derivative instruments and related hedged items are accounted for, and how the derivative instruments and related hedging items affect the financial statements. The Company does not use derivative instruments to hedge exposures to cash flow, market or foreign currency risk. Terms of equity instruments are reviewed to determine whether or not they contain embedded derivative instruments that are required under ASC 815 to be accounted for separately from the host contract and recorded on the balance sheet at fair value. The fair value of derivative liabilities, if any, is required to be revalued at each reporting date, with corresponding changes in fair value recorded in current period operating results. Pursuant to ASC 815, an evaluation of specifically identified conditions is made to determine whether the fair value of warrants issued is required to be classified as equity or as a derivative liability. |
Intangible Assets, Goodwill and
Intangible Assets, Goodwill and Other (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Impairment loss on digital assets | The Company determines the fair value of its digital assets on a nonrecurring basis in accordance with ASC 820, Fair Value Measurement, based on quoted prices on the active exchange(s) that has been determined to be the principal market for such assets (Level 1 inputs). The Company performs an analysis each quarter to identify whether events or changes in circumstances, principally decreases in the quoted prices on active exchanges, indicate that it is more likely than not that the digital assets are impaired. In determining if an impairment has occurred, the Company considers the lowest market price of one unit of the digital asset quoted on the active exchange since acquiring the digital asset. If the then-current carrying value of a digital asset exceeds the fair value so determined, an impairment loss has occurred with respect to those digital assets in the amount equal to the difference between their carrying value and the price determined. Impairment losses on digital assets are recognized within general and administrative expenses in the consolidated statements of operations and comprehensive loss in the period in which the impairment is identified. The impaired digital assets are written down to the lowest market price at the time of impairment and this new cost basis will not be adjusted upward for any subsequent increase in fair value. Gains are not recorded until realized upon sale, at which point they are presented net of any impairment losses for the same digital assets held. In determining the gain to be recognized upon sale, the Company calculates the difference between the sales price and carrying value of the digital assets sold immediately prior to sale. |
Company and Summary of Signif_3
Company and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Schedule Of Estimated Useful Lives Of Property Plant And Equipment [Table Text Block] | Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows: Computer Equipment 3 years Office Equipment 3 - 10 years Furniture and Fixtures 5 - 10 years |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The Company used the following assumptions for stock options granted under the 2011 Equity Incentive Plans during the twelve months ended December 31, 2021, and 2020: Twelve Months Ended 2011 Equity Incentive Plans Assumptions December 31, December 31, Expected term 6 years 6 years Weighted average volatility 120.18% 108.58% Weighted average risk-free interest rate 0.98% 0.46% Expected dividends — — Weighted average expected forfeiture rate 11.74% 7.72% |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Property and equipment consist of the following: December 31, 2021 December 31, 2020 Furniture and fixtures $ 208,583 $ 221,733 Office equipment 66,417 67,833 Computer equipment 541,330 513,344 Total 816,330 802,910 Less accumulated depreciation (661,145) (571,992) Property and equipment, net $ 155,185 $ 230,918 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The identifiable intangible assets, other than Goodwill and Digital Assets, consists of the following assets: December 31, 2021 December 31, 2020 Balance Accumulated Amortization Balance Accumulated Amortization Useful Life (in years) Content provider networks $ 160,000 $ 160,000 $ 160,000 $ 160,000 2 Trade names 87,000 87,000 87,000 87,000 1 Developed technology 820,000 820,000 820,000 820,000 5 Self-service content customers 2,810,000 2,810,000 2,810,000 2,304,444 3 Managed content customers 2,140,000 2,140,000 2,140,000 2,140,000 3 Domains 166,469 166,469 166,469 166,469 5 Embedded non-compete provision 28,000 28,000 28,000 28,000 2 Digital Assets $ 213,263 $ — $ — $ — Indefinite Total $ 6,424,732 $ 6,211,469 $ 6,211,469 $ 5,705,913 Intangible Assets, net of amortization $ 213,263 $ 505,556 Total identifiable intangible assets from the Company’s acquisitions and other acquired assets net of accumulated amortization thereon consists of the following: December 31, 2021 December 31, 2020 Ebyline Intangible Assets $ 2,370,000 $ 2,370,000 ZenContent Intangible Assets 722,000 722,000 Domains 166,469 166,469 TapInfluence Intangible Assets 2,953,000 2,953,000 Digital Assets $ 213,263 $ — Total $ 6,424,732 $ 6,211,469 Less accumulated amortization (6,211,469) (5,705,913) Intangible assets, net $ 213,263 $ 505,556 *Digital assets excluded from table as amortization is not applicable |
Schedule of Goodwill [Table Text Block] | The Company’s goodwill balance changed as follows: Amount Balance on December 31, 2019 $ 8,316,722 Acquisitions, impairments, or other changes during 2020 (4,300,000) Balance on December 31, 2020 4,016,722 Acquisitions, impairments, or other changes during 2021 — Balance on December 31, 2021 $ 4,016,722 |
Software Development Costs (Tab
Software Development Costs (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Finite-Lived Intangible Assets [Line Items] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The identifiable intangible assets, other than Goodwill and Digital Assets, consists of the following assets: December 31, 2021 December 31, 2020 Balance Accumulated Amortization Balance Accumulated Amortization Useful Life (in years) Content provider networks $ 160,000 $ 160,000 $ 160,000 $ 160,000 2 Trade names 87,000 87,000 87,000 87,000 1 Developed technology 820,000 820,000 820,000 820,000 5 Self-service content customers 2,810,000 2,810,000 2,810,000 2,304,444 3 Managed content customers 2,140,000 2,140,000 2,140,000 2,140,000 3 Domains 166,469 166,469 166,469 166,469 5 Embedded non-compete provision 28,000 28,000 28,000 28,000 2 Digital Assets $ 213,263 $ — $ — $ — Indefinite Total $ 6,424,732 $ 6,211,469 $ 6,211,469 $ 5,705,913 Intangible Assets, net of amortization $ 213,263 $ 505,556 Total identifiable intangible assets from the Company’s acquisitions and other acquired assets net of accumulated amortization thereon consists of the following: December 31, 2021 December 31, 2020 Ebyline Intangible Assets $ 2,370,000 $ 2,370,000 ZenContent Intangible Assets 722,000 722,000 Domains 166,469 166,469 TapInfluence Intangible Assets 2,953,000 2,953,000 Digital Assets $ 213,263 $ — Total $ 6,424,732 $ 6,211,469 Less accumulated amortization (6,211,469) (5,705,913) Intangible assets, net $ 213,263 $ 505,556 *Digital assets excluded from table as amortization is not applicable |
Software Development [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Software development costs consists of the following: December 31, 2021 December 31, 2020 Software development costs $ 3,036,810 $ 3,036,810 Less accumulated amortization (2,017,210) (1,564,126) Software development costs, net $ 1,019,600 $ 1,472,684 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | As of December 31, 2021, future estimated amortization expense related to software development costs is set forth in the following schedule: Software Development Amortization Expense 2022 $ 400,474 2023 359,685 2024 177,764 2025 78,920 2026 2,757 Total $ 1,019,600 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Payables and Accruals [Abstract] | |
Schedule of Accrued Liabilities [Table Text Block] | Accrued expenses consist of the following: December 31, 2021 December 31, 2020 Accrued payroll liabilities $ 2,251,284 $ 1,504,113 Accrued taxes 76,079 286,455 Current portion of finance obligation 33,388 30,487 Accrued other 142,131 103,918 Total accrued expenses $ 2,502,882 $ 1,924,973 |
Notes Payable (Tables)
Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Maturities of Long-term Debt | As of December 31, 2021, the future contractual maturities of the Company’s debt obligations by year is set forth in the following schedule: 2022 33,388 2023 42,068 Total $ 75,456 |
Commitment and Contingencies (T
Commitment and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Defined Contribution Plan Disclosures | Total expense for employer matching contributions during the twelve months ended December 31, 2021, and 2020 was recorded in the Company’s consolidated statements of operations as follows: Twelve Months Ended December 31, December 31, Cost of revenue $ 51,331 $ 27,990 Sales and marketing 92,925 57,389 General and administrative 87,154 65,752 Total contribution expense $ 231,410 $ 151,131 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Nonvested Restricted Stock Shares Activity [Table Text Block] | The following table contains summarized information about restricted stock issued during the years ended December 31, 2020 and December 31, 2021: Restricted Stock Common Shares Weighted Average Weighted Average Nonvested at December 31, 2019 31,282 $ 2.15 1.9 Granted 390,625 0.32 Vested (408,241) 0.39 Forfeited — — Nonvested at December 31, 2020 13,666 $ 2.28 1.4 Granted 30,324 4.86 Vested (40,437) 4.25 Forfeited — — Nonvested at December 31, 2021 3,553 $ 1.83 0.7 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | The following table contains summarized information about restricted stock units during the years ended December 31, 2020 and December 31, 2021: Restricted Stock Units Common Shares Weighted Average Weighted Average Nonvested at December 31, 2019 366,812 $ 0.42 3.2 Granted 930,145 0.37 Vested (172,441) 0.41 Forfeited (154,167) 0.30 Nonvested at December 31, 2020 970,349 $ 0.39 1.2 Granted 229,638 2.93 Vested (817,417) 0.83 Forfeited (7,126) 1.77 Nonvested at December 31, 2021 375,444 $ 0.96 1.8 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | A summary of option activity under the 2011 Equity Incentive Plans during the years ended December 31, 2020, and December 31, 2021, is presented below: Options Outstanding Common Shares Weighted Average Weighted Average Outstanding at December 31, 2019 1,357,837 $ 3.24 7.2 Granted 411,350 0.69 Exercised (369) 1.00 Forfeited (56,012) 5.08 Outstanding at December 31, 2020 1,712,806 $ 2.56 6.9 Granted 296,569 2.60 Exercised (182,722) 3.26 Forfeited (30,990) 0.32 Outstanding at December 31, 2021 1,795,663 $ 2.79 6.4 Exercisable at December 31, 2021 1,139,859 $ 3.54 5.1 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The Company used the following assumptions for stock options granted under the 2011 Equity Incentive Plans during the twelve months ended December 31, 2021, and 2020: Twelve Months Ended 2011 Equity Incentive Plans Assumptions December 31, December 31, Expected term 6 years 6 years Weighted average volatility 120.18% 108.58% Weighted average risk-free interest rate 0.98% 0.46% Expected dividends — — Weighted average expected forfeiture rate 11.74% 7.72% |
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity [Table Text Block] | Total stock-based compensation expense recognized on restricted stock, restricted stock units, stock options, and employee stock purchase plan issuances during the twelve months ended December 31, 2021, and 2020 was recorded in the Company’s consolidated statements of operations as follows: Twelve Months Ended December 31, December 31, Cost of revenue $ 9,160 $ 10,152 Sales and marketing 22,115 55,458 General and administrative 847,464 412,383 Total stock-based compensation $ 878,739 $ 477,993 |
Equity Incentive 2011 Plan [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The following table shows the number of stock options granted under the Company’s 2011 Equity Incentive Plans and the assumptions used to determine the fair value of those options using a Black-Scholes option-pricing model during the twelve months ended December 31, 2021, and 2020: Twelve Months Ended Total Options Granted Weighted Average Exercise Price Weighted Average Expected Term Weighted Average Volatility Weighted Average Risk-Free Interest Rate Expected Dividends Weighted Average Weighted average expected forfeiture rate December 31, 2020 411,350 $ 0.69 6.0 years 108.58% 0.46% — $ 0.56 7.72% December 31, 2021 296,569 $ 2.60 6.0 years 120.18% 0.98% — $ 2.25 11.74% |
Stock options | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of Nonvested Share Activity [Table Text Block] | A summary of the nonvested stock option activity under the 2011 Equity Incentive Plan during the years ended December 31, 2020, and December 31, 2021, is presented below: Nonvested Options Common Shares Weighted Average Weighted Average Nonvested at December 31, 2019 600,779 $ 0.64 3.0 Granted 411,350 0.56 Vested (283,766) 0.72 Forfeited (12,877) 0.88 Nonvested at December 31, 2020 715,486 $ 0.56 2.5 Granted 296,569 2.25 Vested (339,099) 0.73 Forfeited (17,152) 1.38 Nonvested at December 31, 2021 655,804 $ 1.22 2.3 |
Loss Per Common Share (Tables)
Loss Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | Diluted loss per share is computed by dividing the net income or loss by the sum of the total of the basic weighted-average number of shares of common stock outstanding plus the additional dilutive securities that could be exercised or converted into common shares during each period presented less the amount of shares that could be repurchased using the proceeds from the exercises. Twelve Months Ended December 31, December 31, Net loss $ (3,140,621) $ (10,508,395) Weighted average shares outstanding - basic and diluted 60,407,921 41,289,705 Basic and diluted loss per common share $ (0.05) $ (0.25) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The Company excluded the following weighted average items from the above computation of diluted loss per common share, as their effect would be anti-dilutive: Twelve Months Ended December 31, December 31, Stock options 1,750,096 1,560,828 Restricted stock units 516,180 980,785 Restricted stock 22,632 232,600 Warrants — 6,517 Total excluded shares 2,288,908 2,780,730 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue [Table Text Block] | The following table illustrates the Company’s revenue by product service type: Twelve Months Ended December 31, December 31, Managed Services Revenue $ 28,203,556 $ 15,625,273 Marketplace Spend Fees 319,419 621,536 License Fees 1,454,874 1,667,662 Other Fees 44,528 52,736 SaaS Services Revenue 1,818,821 2,341,934 Total Revenue $ 30,022,377 $ 17,967,207 The following table provides the Company’s revenues as determined by the country of domicile: Twelve Months Ended December 31, December 31, United States $ 29,390,892 $ 16,964,603 Canada 631,485 1,002,604 Total $ 30,022,377 $ 17,967,207 |
Contract with Customer, Asset and Liability [Table Text Block] | The following table provides information about receivables, contract assets and contract liabilities from contracts with customers reported in the Company’s consolidated balance sheet: December 31, December 31, 2020 Accounts receivable, net $ 7,599,103 $ 5,207,205 Contract liabilities (unearned revenue) $ 11,338,095 $ 6,634,870 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of Deferred Tax Assets and Liabilities | The components of the Company’s net deferred income taxes are as follows (rounded): December 31, December 31, Deferred tax assets: Net operating loss carry forwards $ 23,877,000 $ 22,376,000 Accrued expenses 430,000 281,000 Stock option and warrant expenses 504,000 474,000 Accounts receivable 41,000 38,000 Other (42,000) 3,000 Total deferred tax assets 24,810,000 23,172,000 Valuation allowance (24,684,000) (22,950,000) Net deferred tax assets 126,000 222,000 Deferred tax liabilities: Fixed and tangible assets (126,000) (222,000) Total deferred tax liabilities (126,000) (222,000) Total deferred tax assets (liabilities) $ — $ — |
Schedule of Effective Income Tax Rate Reconciliation | The following summary reconciles differences from taxes at the federal statutory rate with the effective rate: Twelve Months Ended December 31, December 31, Federal income tax at statutory rates (21.0) % (21.0) % Change in deferred tax asset valuation allowance 53.7 % 13.8 % Deferred state taxes (7.2) % (2.1) % Non-deductible expenses: Goodwill impairment — % 9.0 % ISO & Restricted stock compensation (6.4) % (0.1) % Change in state & federal deferred rate (5.9) % 0.2 % PPP loan forgiveness (13.4) % — % Other 0.2 % 0.2 % Income taxes at effective rates — % — % |
Company and Summary of Signif_4
Company and Summary of Significant Accounting Policies - Reclassification (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Digital assets [Member] | ||
Significant Accounting Policies [Line Items] | ||
Software Amortization Expense, Total | $ 216,675 | $ 33,921 |
Company and Summary of Signif_5
Company and Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Accounting Policies [Abstract] | ||
Cash, FDIC Insured Amount | $ 250,000 | |
Cash, Uninsured Amount | $ 74,900,000 | $ 31,400,000 |
Company and Summary of Signif_6
Company and Summary of Significant Accounting Policies - Accounts Receivable and Concentration of Credit Risk (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Concentration Risk [Line Items] | ||
Accounts receivable, before allowance for credit loss | $ 7,577,177 | $ 5,148,213 |
Unbilled receivables | 21,926 | 58,992 |
Allowance for doubtful accounts receivable | $ 155,000 | $ 155,000 |
Accounts Receivable [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk, percentage | 38.00% | 10.00% |
Accounts Receivable [Member] | Customer Concentration Risk | ||
Concentration Risk [Line Items] | ||
Concentration risk, customer | three | zero |
Revenue from Contract with Customer Benchmark [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk, percentage | 14.00% | 13.00% |
Revenue from Contract with Customer Benchmark [Member] | Customer Concentration Risk | ||
Concentration Risk [Line Items] | ||
Concentration risk, customer | one | one |
Company and Summary of Signif_7
Company and Summary of Significant Accounting Policies - Property and Equipment (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Computer Equipment [Member] | |
Significant Accounting Policies [Line Items] | |
Property, plant and equipment, useful life (in years) | 3 years |
Minimum [Member] | Office Equipment [Member] | |
Significant Accounting Policies [Line Items] | |
Property, plant and equipment, useful life (in years) | 3 years |
Minimum [Member] | Furniture and Fixtures [Member] | |
Significant Accounting Policies [Line Items] | |
Property, plant and equipment, useful life (in years) | 5 years |
Maximum [Member] | Office Equipment [Member] | |
Significant Accounting Policies [Line Items] | |
Property, plant and equipment, useful life (in years) | 10 years |
Maximum [Member] | Furniture and Fixtures [Member] | |
Significant Accounting Policies [Line Items] | |
Property, plant and equipment, useful life (in years) | 10 years |
Company and Summary of Signif_8
Company and Summary of Significant Accounting Policies - Goodwill (Details) | 12 Months Ended |
Dec. 31, 2021lease | |
Accounting Policies [Abstract] | |
Number of reporting units | 1 |
Company and Summary of Signif_9
Company and Summary of Significant Accounting Policies - Intangible Assets (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life (in years) | 12 years |
Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life (in years) | 60 years |
Company and Summary of Signi_10
Company and Summary of Significant Accounting Policies - Software Development Costs (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Amortization period of software development costs (in years) | 5 years |
Company and Summary of Signi_11
Company and Summary of Significant Accounting Policies - Leases (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Lease term | 12 months |
Company and Summary of Signi_12
Company and Summary of Significant Accounting Policies - Revenue Recognition (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Contract assets and contract liabilities length of agreement with customers | 1 year |
Invoice payment terms | 30 days |
Company and Summary of Signi_13
Company and Summary of Significant Accounting Policies - Advertising Costs (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Selling and Marketing Expense [Member] | ||
Significant Accounting Policies [Line Items] | ||
Advertising costs | $ 2,000,000 | $ 700,000 |
Company and Summary of Signi_14
Company and Summary of Significant Accounting Policies - Stock-Based Compensation (Details) - Equity Incentive 2011 Plan [Member] | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Significant Accounting Policies [Line Items] | ||
Expected term (in years) | 6 years | 6 years |
Weighted average volatility (percentage) | 120.18% | 108.58% |
Weighted average risk free interest rate (percentage) | 0.98% | 0.46% |
Expected dividends | 0.00% | 0.00% |
Weighted-average expected forfeiture rate (percentage) | 11.74% | 7.72% |
Restatement and Revision - Cons
Restatement and Revision - Consolidated Balance Sheet (Details) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||
Cash and cash equivalents | $ 75,433,295 | $ 74,451,857 | $ 74,989,876 | $ 65,465,588 | $ 33,045,225 | $ 30,617,921 | $ 20,820,273 | $ 5,634,441 | ||
Accounts receivable, net | 7,599,103 | 7,093,028 | 6,132,949 | 4,071,940 | 5,207,205 | 3,981,132 | 3,053,135 | 3,977,571 | ||
Prepaid expenses | 2,257,382 | 1,689,577 | 1,027,145 | 387,008 | 226,559 | 414,695 | 370,009 | 432,180 | ||
Other current assets | 100,522 | 40,853 | 62,694 | 48,340 | 74,467 | 140,291 | 130,656 | 37,097 | ||
Assets, Current | 85,390,302 | 83,275,315 | 82,212,664 | 69,972,876 | 38,553,456 | 35,154,039 | 24,374,073 | 10,081,289 | ||
Property and equipment, net | 155,185 | 157,769 | 193,786 | 219,563 | 230,918 | 260,994 | 282,082 | |||
Goodwill | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | $ 8,316,722 | |
Intangible assets, net | 213,263 | 72,222 | 288,889 | 505,556 | 768,879 | 1,006,536 | 1,246,526 | |||
Software development costs, net | 1,019,600 | 1,127,093 | 1,242,252 | 1,356,308 | 1,472,684 | 1,480,288 | 1,413,920 | 1,470,334 | ||
Assets | 90,795,072 | 88,576,899 | 87,737,646 | 75,854,358 | 44,779,336 | 41,680,922 | 31,133,715 | 17,283,209 | ||
Accounts payable | 2,086,892 | 1,697,645 | 1,907,389 | 2,023,761 | 2,310,974 | 1,743,008 | 1,290,739 | 1,445,252 | ||
Accrued expenses | 2,502,882 | 2,419,917 | 2,097,474 | 1,680,722 | 1,924,973 | 1,267,553 | 1,287,652 | 1,604,588 | ||
Contract liabilities | 11,338,095 | 10,103,075 | 8,197,992 | 6,639,150 | 6,634,870 | 6,461,575 | 5,510,305 | 5,178,515 | ||
Current portion of notes payable | 0 | 1,797,976 | 1,477,139 | 1,157,103 | 837,865 | 1,162,924 | ||||
Liabilities, Current | 15,927,869 | 14,220,637 | 12,202,855 | 12,141,609 | 12,347,956 | 10,629,239 | 8,926,561 | 9,391,279 | ||
Finance obligation, less current portion | 10,420 | 34,292 | 34,292 | 34,292 | 43,808 | 65,604 | 65,609 | 65,609 | ||
Notes payable, less current portion | 31,648 | 31,470 | 32,255 | 138,900 | 459,383 | 778,092 | 1,096,722 | 9,456,888 | ||
Liabilities | 15,969,937 | 14,286,399 | 12,269,402 | 12,314,801 | 12,851,147 | 11,472,935 | 10,088,892 | |||
Common Stock, Value, Issued | 6,205 | 6,190 | 6,181 | 5,912 | 5,005 | 4,833 | 4,178 | 3,477 | ||
Additional paid-in capital | 148,452,498 | 148,229,391 | 148,006,352 | 135,919,529 | 102,416,131 | 99,610,374 | 89,315,525 | 74,257,810 | ||
Accumulated deficit | (73,633,568) | (73,945,081) | (72,544,289) | (72,385,884) | (70,492,947) | (69,407,220) | (68,274,880) | (66,434,966) | (60,000,000) | |
Stockholders' Equity Attributable to Parent | 74,825,135 | 74,290,500 | 75,468,244 | 63,539,557 | 31,928,189 | 30,207,987 | 21,044,823 | 7,826,321 | $ 14,100,000 | 14,118,240 |
Liabilities and Equity | $ 90,795,072 | 88,576,899 | 87,737,646 | 75,854,358 | 44,779,336 | 41,680,922 | 31,133,715 | 17,283,209 | ||
Previously Reported | ||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||
Cash and cash equivalents | 74,451,857 | 74,989,876 | 65,465,588 | 33,045,225 | 30,617,921 | 20,820,273 | 5,634,441 | |||
Accounts receivable, net | 7,093,028 | 6,132,949 | 4,071,940 | 5,207,205 | 3,981,132 | 3,053,135 | 3,977,571 | |||
Prepaid expenses | 1,646,895 | 1,006,643 | 380,407 | 199,294 | 385,128 | 368,697 | 423,419 | |||
Other current assets | 40,853 | 62,694 | 48,340 | 74,467 | 140,291 | 130,656 | 37,097 | |||
Assets, Current | 83,232,633 | 82,192,162 | 69,966,275 | 38,526,191 | 35,124,472 | 24,372,761 | 10,072,528 | |||
Property and equipment, net | 157,769 | 193,786 | 219,563 | 230,918 | 260,994 | 282,082 | 317,154 | |||
Goodwill | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | |||
Intangible assets, net | 72,222 | 288,889 | 505,556 | 768,879 | 1,006,536 | 1,246,526 | ||||
Software development costs, net | 1,127,093 | 1,242,252 | 1,356,308 | 1,472,684 | 1,480,288 | 1,413,920 | 1,470,334 | |||
Assets | 88,534,217 | 87,717,144 | 75,847,757 | 44,752,071 | 41,651,355 | 31,132,403 | 17,274,448 | |||
Accounts payable | 1,372,546 | 1,624,725 | 1,675,520 | 1,880,144 | 1,333,281 | 1,022,960 | 1,130,791 | |||
Accrued expenses | 2,419,917 | 2,097,474 | 1,680,722 | 1,924,973 | 1,267,553 | 1,287,652 | 1,604,588 | |||
Contract liabilities | 10,660,068 | 8,654,765 | 7,222,120 | 7,180,264 | 7,028,687 | 5,841,264 | 5,597,479 | |||
Current portion of notes payable | 1,797,976 | 1,477,139 | 1,157,103 | 837,865 | 1,162,924 | |||||
Liabilities, Current | 14,452,531 | 12,376,964 | 12,376,338 | 12,462,520 | 10,786,624 | 8,989,741 | 9,495,782 | |||
Finance obligation, less current portion | 34,292 | 34,292 | 34,292 | 43,808 | 65,604 | 65,609 | 65,609 | |||
Notes payable, less current portion | 31,470 | 32,255 | 138,900 | 459,383 | 778,092 | 1,096,722 | 9,561,391 | |||
Liabilities | 14,518,293 | 12,443,511 | 12,549,530 | 12,965,711 | 11,630,320 | 10,152,072 | ||||
Common Stock, Value, Issued | 6,190 | 6,181 | 5,912 | 5,005 | 4,833 | 4,178 | 3,477 | |||
Additional paid-in capital | 148,229,391 | 148,006,352 | 135,919,529 | 102,416,131 | 99,610,374 | 89,315,525 | 74,257,810 | |||
Accumulated deficit | (74,219,657) | (72,738,900) | (72,627,214) | (70,634,776) | (69,594,172) | (68,339,372) | (66,548,230) | (60,400,000) | ||
Stockholders' Equity Attributable to Parent | 74,015,924 | 75,273,633 | 63,298,227 | 31,786,360 | 30,021,035 | 20,980,331 | 7,713,057 | $ 13,700,000 | ||
Liabilities and Equity | 88,534,217 | 87,717,144 | 75,847,757 | 44,752,071 | 41,651,355 | 31,132,403 | 17,274,448 | |||
Revision of Prior Period, Adjustment | ||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||
Cash and cash equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Accounts receivable, net | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Prepaid expenses | 42,682 | 20,502 | 6,601 | 27,265 | 29,567 | 1,312 | 8,761 | |||
Other current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Assets, Current | 42,682 | 20,502 | 6,601 | 27,265 | 29,567 | 1,312 | 8,761 | |||
Property and equipment, net | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Intangible assets, net | 0 | 0 | 0 | 0 | 0 | 0 | ||||
Software development costs, net | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Assets | 42,682 | 20,502 | 6,601 | 27,265 | 29,567 | 1,312 | 8,761 | |||
Accounts payable | 325,099 | 282,664 | 348,241 | 430,830 | 409,727 | 267,779 | 314,461 | |||
Accrued expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Contract liabilities | (556,993) | (456,773) | (582,970) | (545,394) | (567,112) | (330,959) | (418,964) | |||
Current portion of notes payable | 0 | 0 | 0 | 0 | 0 | |||||
Liabilities, Current | (231,894) | (174,109) | (234,729) | (114,564) | (157,385) | (63,180) | (104,503) | |||
Finance obligation, less current portion | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Notes payable, less current portion | 0 | 0 | 0 | 0 | 0 | 0 | (104,503) | |||
Liabilities | (231,894) | (174,109) | (234,729) | (114,564) | (157,385) | (63,180) | ||||
Common Stock, Value, Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Additional paid-in capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Accumulated deficit | 274,576 | 194,611 | 241,330 | 141,829 | 186,952 | 64,492 | 113,264 | |||
Stockholders' Equity Attributable to Parent | 274,576 | 194,611 | 241,330 | 141,829 | 186,952 | 64,492 | 113,264 | |||
Liabilities and Equity | $ 42,682 | $ 20,502 | $ 6,601 | $ 27,265 | $ 29,567 | $ 1,312 | $ 8,761 |
Restatement and Revision - Co_2
Restatement and Revision - Consolidated Statement of Operations and Comprehensive Loss (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||
Revenue from contract with customer, excluding assessed tax | $ 7,734,374 | $ 6,416,451 | $ 5,528,166 | $ 4,207,554 | $ 3,049,817 | $ 4,324,475 | $ 11,944,617 | $ 7,374,292 | $ 19,678,991 | $ 11,581,846 | $ 30,022,377 | $ 17,967,207 | |
Cost of revenue | 4,022,395 | 3,208,690 | 2,457,785 | 1,750,744 | 1,377,799 | 1,988,277 | 5,666,475 | 3,366,076 | 9,688,870 | 5,116,820 | 14,461,702 | 7,896,078 | |
Sales and marketing | 2,240,936 | 2,302,869 | 2,078,323 | 1,403,037 | 1,228,691 | 1,523,143 | 4,381,192 | 2,751,834 | 6,622,128 | 4,154,871 | 8,795,038 | 5,999,671 | |
General and administrative | 2,670,785 | 2,659,578 | 2,535,147 | 1,827,267 | 1,920,492 | 2,417,838 | 5,194,725 | 4,338,330 | 7,865,510 | 6,165,597 | 11,034,246 | 8,611,423 | |
Depreciation and amortization | 220,453 | 363,924 | 365,529 | 372,483 | 377,107 | 501,269 | 729,453 | 878,376 | 949,906 | 1,250,859 | 1,089,118 | 1,652,126 | |
Total costs and expenses | 9,154,569 | 8,535,061 | 7,436,784 | 5,353,531 | 4,904,089 | 10,730,527 | 15,971,845 | 15,634,616 | 25,126,414 | 20,988,147 | 35,380,104 | 28,459,298 | |
Loss from operations | (1,420,195) | (2,118,610) | (1,908,618) | (1,145,977) | (1,854,272) | (6,406,052) | (4,027,228) | (8,260,324) | (5,447,423) | (9,406,301) | (5,357,727) | (10,492,091) | |
Interest Expense | (1,558) | (8,739) | (13,793) | (16,448) | (19,476) | (6,618) | (22,532) | (26,094) | (24,090) | (42,542) | (25,320) | (63,012) | |
Other income, net | 20,961 | 1,968,944 | 29,474 | 30,085 | 33,834 | (37,744) | 1,998,418 | (3,910) | 2,019,379 | 26,175 | 2,242,426 | 46,708 | |
Nonoperating Income (Expense) | 19,403 | 1,960,205 | 15,681 | 13,637 | 14,358 | (44,362) | 1,975,886 | (30,004) | 1,995,289 | (16,367) | 2,217,106 | (16,304) | |
Net income (loss) | $ (1,400,792) | $ (158,405) | $ (1,892,937) | $ (1,132,340) | $ (1,839,914) | $ (6,450,414) | $ (2,051,342) | $ (8,290,328) | $ (3,452,134) | $ (9,422,668) | $ (3,140,621) | $ (10,508,395) | |
Weighted average common shares outstanding – basic and diluted | 61,883,017 | 61,386,913 | 56,334,219 | 45,772,638 | 36,108,073 | 34,681,198 | 58,874,526 | 35,394,639 | 59,875,142 | 38,879,218 | 60,407,921 | 41,289,705 | |
Basic and diluted loss per common share | $ (0.02) | $ 0 | $ (0.03) | $ (0.02) | $ (0.05) | $ (0.19) | $ (0.03) | $ (0.23) | $ (0.06) | $ (0.24) | $ (0.05) | $ (0.25) | |
Impairment of goodwill | $ 0 | $ 4,300,000 | $ 4,300,000 | $ 4,300,000 | $ 0 | $ 4,300,000 | |||||||
Previously Reported | |||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||
Revenue from contract with customer, excluding assessed tax | $ 7,607,546 | $ 6,538,739 | $ 5,375,632 | $ 4,036,120 | $ 3,135,039 | 4,763,668 | $ 11,914,371 | 7,898,707 | $ 19,521,917 | 11,934,827 | 18,329,555 | ||
Cost of revenue | 3,975,532 | 3,284,259 | 2,404,752 | 1,701,770 | 1,414,249 | 2,140,517 | 5,689,011 | 3,554,766 | 9,664,543 | 5,256,536 | 8,000,038 | ||
Sales and marketing | 2,240,936 | 2,302,869 | 2,078,323 | 1,403,037 | 1,228,691 | 1,523,143 | 4,381,192 | 2,751,834 | 6,622,128 | 4,154,871 | 5,999,671 | ||
General and administrative | 2,670,785 | 2,659,578 | 2,535,147 | 1,827,267 | 1,920,492 | 2,417,838 | 5,194,725 | 4,338,330 | 7,865,510 | 6,165,597 | 8,611,423 | ||
Depreciation and amortization | 220,453 | 363,924 | 365,529 | 372,483 | 377,107 | 501,269 | 729,453 | 878,376 | 949,906 | 1,250,859 | 1,652,126 | ||
Total costs and expenses | 9,107,706 | 8,610,630 | 7,383,751 | 5,304,557 | 4,940,539 | 10,882,767 | 15,994,381 | 15,823,306 | 25,102,087 | 21,127,863 | 28,563,258 | ||
Loss from operations | (1,500,160) | (2,071,891) | (2,008,119) | (1,268,437) | (1,805,500) | (6,119,099) | (4,080,010) | (7,924,599) | (5,580,170) | (9,193,036) | (10,233,703) | ||
Interest Expense | (1,558) | (8,739) | (13,793) | (16,448) | (6,618) | (22,532) | (26,094) | (24,090) | (42,542) | (63,012) | |||
Other income, net | 20,961 | 1,968,944 | 29,474 | 30,085 | (37,744) | 1,998,418 | (3,910) | 2,019,379 | 26,175 | 46,708 | |||
Nonoperating Income (Expense) | 19,403 | 1,960,205 | 15,681 | 13,637 | 14,358 | (44,362) | 1,975,886 | (30,004) | 1,995,289 | (16,367) | (16,304) | ||
Net income (loss) | $ (1,480,757) | $ (111,686) | $ (1,992,438) | $ (1,254,800) | $ (1,791,142) | $ (6,163,461) | $ (2,104,124) | $ (7,954,603) | $ (3,584,881) | $ (9,209,403) | $ (10,250,007) | ||
Weighted average common shares outstanding – basic and diluted | 61,883,017 | 61,386,913 | 56,334,219 | 45,772,638 | 36,108,073 | 34,681,198 | 58,874,526 | 35,394,639 | 59,875,142 | 38,879,218 | 41,289,705 | ||
Basic and diluted loss per common share | $ (0.02) | $ 0 | $ (0.04) | $ (0.03) | $ (0.05) | $ (0.18) | $ (0.04) | $ (0.22) | $ (0.06) | $ (0.24) | $ (0.25) | ||
Impairment of goodwill | $ 4,300,000 | $ 4,300,000 | $ 4,300,000 | $ 4,300,000 | |||||||||
Revision of Prior Period, Adjustment | |||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||
Revenue from contract with customer, excluding assessed tax | $ 126,828 | $ (122,288) | $ 152,534 | $ 171,434 | $ (85,222) | (439,193) | $ 30,246 | (524,415) | $ 157,074 | (352,981) | (362,348) | ||
Cost of revenue | 46,863 | (75,569) | 53,033 | 48,974 | (36,450) | (152,240) | (22,536) | (188,690) | 24,327 | (139,716) | (103,960) | ||
Sales and marketing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
General and administrative | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Depreciation and amortization | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Total costs and expenses | 46,863 | (75,569) | 53,033 | 48,974 | (36,450) | (152,240) | (22,536) | (188,690) | 24,327 | (139,716) | (103,960) | ||
Loss from operations | 79,965 | (46,719) | 99,501 | 122,460 | (48,772) | (286,953) | 52,782 | (335,725) | 132,747 | (213,265) | (258,388) | ||
Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other income, net | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Nonoperating Income (Expense) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Net income (loss) | $ 79,965 | $ (46,719) | $ 99,501 | $ 122,460 | $ (48,772) | $ (286,953) | $ 52,782 | $ (335,725) | $ 132,747 | $ (213,265) | $ (258,388) | ||
Weighted average common shares outstanding – basic and diluted | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Basic and diluted loss per common share | $ 0 | $ 0 | $ 0.01 | $ 0.01 | $ 0 | $ (0.01) | $ 0.01 | $ (0.01) | $ 0 | $ 0 | $ 0 | ||
Impairment of goodwill | $ 0 | $ 0 | $ 0 | $ 0 |
Restatement and Revision - Co_3
Restatement and Revision - Consolidated Statement of Cash Flows (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Net income (loss) | $ (1,400,792) | $ (158,405) | $ (1,892,937) | $ (1,132,340) | $ (1,839,914) | $ (6,450,414) | $ (2,051,342) | $ (8,290,328) | $ (3,452,134) | $ (9,422,668) | $ (3,140,621) | $ (10,508,395) | ||
Depreciation and amortization | 32,486 | 35,629 | 65,687 | 70,207 | 98,759 | 102,495 | 130,478 | 135,077 | ||||||
Amortization of software development costs and other intangible assets | 333,043 | 663,766 | 808,169 | 851,147 | 1,148,364 | 958,640 | 1,517,049 | |||||||
Stock-based compensation | 197,986 | 31,250 | 404,180 | 633,219 | 356,846 | |||||||||
Fair value of stock issued for payment of services | 34,696 | 72,240 | 62,499 | 109,784 | 93,749 | 147,329 | 125,000 | |||||||
Impairment of goodwill | $ 0 | 4,300,000 | 4,300,000 | 4,300,000 | 0 | 4,300,000 | ||||||||
(Gain) on disposal of equipment | (7,914) | 7,790 | 23,706 | 21,522 | (22,423) | (22,022) | (22,598) | |||||||
Provision for losses on accounts receivable | 1,135,265 | 33,305 | 107,315 | 108,381 | 11,250 | 154,576 | ||||||||
Accounts receivable | 1,585,843 | 925,744 | (2,436,269) | 1,885,823 | 1,507,206 | (2,403,148) | 234,938 | |||||||
Prepaid expenses and other current assets | (134,322) | (12,385) | (788,813) | 43,773 | (1,429,405) | (98,095) | (2,090,798) | 155,866 | ||||||
Security deposits | 619 | 111,421 | 151,803 | 0 | 151,803 | |||||||||
Accounts payable | (287,213) | (1,194,762) | (403,584) | (1,349,275) | (613,330) | (897,006) | (224,083) | (329,041) | ||||||
Accrued expenses | (245,077) | 215,375 | 193,795 | (101,561) | 516,238 | (121,665) | 597,127 | 543,768 | ||||||
Contract liabilities | 4,280 | (512,067) | 1,563,121 | (180,277) | 3,468,207 | 770,994 | 4,703,225 | 944,289 | ||||||
Right-of-use asset and lease liability, net | 24,024 | 0 | 24,024 | 0 | 24,024 | |||||||||
Net cash used for operating activities | (829,707) | (1,348,372) | (3,141,704) | (1,820,738) | (3,652,080) | (1,997,995) | (2,566,999) | (2,095,651) | ||||||
Purchase of equipment | (22,109) | (29,689) | (3,287) | (33,912) | (17,290) | (63,046) | (19,797) | |||||||
Proceeds from sale of equipment | 8,892 | 8,924 | 27,487 | 29,824 | 29,007 | 30,324 | 29,183 | |||||||
Software development costs | (97,129) | 0 | (363,793) | |||||||||||
Net cash used for investing activities | (13,217) | (51,004) | (20,765) | (72,929) | (4,088) | (254,318) | (26,169) | (354,407) | ||||||
Proceeds from sale of securities | 34,358,012 | 46,544,688 | 15,361,853 | 46,544,688 | 25,740,293 | 46,544,688 | 28,455,096 | |||||||
Proceeds from stock purchase plan and option exercise issuances | 48,086 | 2,313 | 59,327 | 2,313 | 69,589 | 7,634 | ||||||||
Proceeds from notes payable | 1,934,587 | 1,935,195 | 0 | 1,936,522 | ||||||||||
Repayments of Notes Payable | (11,410) | (41,219) | ||||||||||||
Payments on finance obligation | (8,336) | (7,857) | (11,410) | (8,642) | (11,410) | (30,261) | ||||||||
Payments of Stock Issuance Costs | (746,957) | (2,326) | (1,080,835) | (458,032) | (1,094,929) | (680,786) | (1,094,929) | (747,379) | ||||||
Net cash provided by financing activities | 33,263,287 | 1,149,188 | 45,107,120 | 16,829,311 | 45,062,800 | 26,985,605 | 44,981,238 | 29,610,654 | ||||||
Cash and Cash Equivalents, Period Increase (Decrease) | 27,160,596 | |||||||||||||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 75,433,295 | 74,451,857 | 74,989,876 | 65,465,588 | 30,617,921 | 20,820,273 | 5,634,441 | 74,989,876 | 20,820,273 | 74,451,857 | 30,617,921 | 75,433,295 | 33,045,225 | $ 5,884,629 |
Interest paid | 4,792 | 1,368 | 5,610 | 36,594 | 5,610 | 39,834 | 9,968 | 47,290 | ||||||
Equipment acquired with financing arrangement | 0 | 43,003 | ||||||||||||
Fair value of common stock issued for future services | $ 147,329 | 125,000 | ||||||||||||
Previously Reported | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Net income (loss) | (1,480,757) | (111,686) | (1,992,438) | (1,254,800) | (1,791,142) | (6,163,461) | (2,104,124) | (7,954,603) | (3,584,881) | (9,209,403) | (10,250,007) | |||
Depreciation and amortization | 32,486 | 35,629 | 65,687 | 70,207 | 98,759 | 102,495 | 135,077 | |||||||
Amortization of software development costs and other intangible assets | 333,043 | 663,766 | 808,169 | 851,147 | 1,148,364 | 1,517,049 | ||||||||
Stock-based compensation | 197,986 | 31,250 | 404,180 | 633,219 | 356,846 | 477,993 | ||||||||
Fair value of stock issued for payment of services | 34,696 | 72,240 | 62,499 | 109,784 | 93,749 | 125,000 | ||||||||
Impairment of goodwill | 4,300,000 | 4,300,000 | 4,300,000 | 4,300,000 | ||||||||||
(Gain) on disposal of equipment | (7,914) | 7,790 | 23,706 | 21,522 | (22,423) | (22,598) | ||||||||
Provision for losses on accounts receivable | 1,135,265 | 33,305 | 107,315 | 108,381 | 154,576 | |||||||||
Accounts receivable | 1,585,843 | 925,744 | (2,436,269) | 1,885,823 | 1,507,206 | 234,938 | ||||||||
Prepaid expenses and other current assets | (154,986) | (15,135) | (795,576) | 53,972 | (1,413,987) | (80,038) | 171,620 | |||||||
Security deposits | 619 | 111,421 | 151,803 | 151,803 | ||||||||||
Accounts payable | (204,624) | (1,121,745) | (255,419) | (1,229,576) | (507,598) | (919,255) | (372,392) | |||||||
Accrued expenses | (245,077) | 215,375 | 193,795 | (101,561) | 516,238 | (121,665) | 543,768 | |||||||
Contract liabilities | 41,856 | (869,287) | 1,474,501 | (625,502) | 3,479,804 | 561,921 | 713,498 | |||||||
Right-of-use asset and lease liability, net | 24,024 | 0 | 24,024 | 24,024 | ||||||||||
Net cash used for operating activities | (829,707) | (1,348,372) | (3,141,704) | (1,820,738) | (3,652,080) | (1,997,995) | (2,095,651) | |||||||
Purchase of equipment | (22,109) | (29,689) | (3,287) | (33,912) | (17,290) | (19,797) | ||||||||
Proceeds from sale of equipment | 8,892 | 8,924 | 27,487 | 29,824 | 29,007 | 29,183 | ||||||||
Software development costs | (97,129) | (363,793) | ||||||||||||
Net cash used for investing activities | (13,217) | (51,004) | (20,765) | (72,929) | (4,088) | (254,318) | (354,407) | |||||||
Proceeds from sale of securities | 34,358,012 | 46,544,688 | 15,361,853 | 46,544,688 | 25,740,293 | 28,455,096 | ||||||||
Proceeds from stock purchase plan and option exercise issuances | 48,086 | 2,313 | 59,327 | 2,313 | 7,634 | |||||||||
Proceeds from notes payable | 1,934,587 | 1,935,195 | 1,936,522 | |||||||||||
Repayments of Notes Payable | (11,410) | (41,219) | ||||||||||||
Payments on finance obligation | (8,336) | (7,857) | (11,410) | (8,642) | (11,410) | |||||||||
Payments of Stock Issuance Costs | (746,957) | (2,326) | (1,080,835) | (458,032) | (1,094,929) | (680,786) | (747,379) | |||||||
Net cash provided by financing activities | 33,263,287 | 1,149,188 | 45,107,120 | 16,829,311 | 45,062,800 | 26,985,605 | 29,610,654 | |||||||
Cash and Cash Equivalents, Period Increase (Decrease) | 27,160,596 | |||||||||||||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 74,451,857 | 74,989,876 | 65,465,588 | 30,617,921 | 20,820,273 | 5,634,441 | 74,989,876 | 20,820,273 | 74,451,857 | 30,617,921 | 33,045,225 | 5,884,629 | ||
Interest paid | 4,792 | 1,368 | 5,610 | 36,594 | 5,610 | 39,834 | 47,290 | |||||||
Equipment acquired with financing arrangement | 43,003 | |||||||||||||
Fair value of common stock issued for future services | 125,000 | |||||||||||||
Revision of Prior Period, Adjustment | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Net income (loss) | 79,965 | (46,719) | 99,501 | 122,460 | (48,772) | (286,953) | 52,782 | (335,725) | 132,747 | (213,265) | (258,388) | |||
Depreciation and amortization | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Amortization of software development costs and other intangible assets | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Stock-based compensation | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Fair value of stock issued for payment of services | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Impairment of goodwill | 0 | 0 | 0 | 0 | ||||||||||
(Gain) on disposal of equipment | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Provision for losses on accounts receivable | 0 | 0 | 0 | 0 | 0 | |||||||||
Accounts receivable | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Prepaid expenses and other current assets | 20,664 | 2,750 | 6,763 | (10,199) | (15,418) | (18,057) | (15,754) | |||||||
Security deposits | 0 | 0 | 0 | |||||||||||
Accounts payable | (82,589) | (73,017) | (148,165) | (119,699) | (105,732) | 22,249 | 43,351 | |||||||
Accrued expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Contract liabilities | (37,576) | 357,220 | 88,620 | 445,225 | (11,597) | 209,073 | 230,791 | |||||||
Right-of-use asset and lease liability, net | 0 | 0 | 0 | 0 | ||||||||||
Net cash used for operating activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Purchase of equipment | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Proceeds from sale of equipment | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Software development costs | 0 | 0 | ||||||||||||
Net cash used for investing activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Proceeds from sale of securities | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Proceeds from stock purchase plan and option exercise issuances | 0 | 0 | 0 | 0 | 0 | |||||||||
Proceeds from notes payable | 0 | 0 | 0 | |||||||||||
Repayments of Notes Payable | 0 | 0 | ||||||||||||
Payments on finance obligation | 0 | 0 | 0 | 0 | 0 | |||||||||
Payments of Stock Issuance Costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Net cash provided by financing activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | |||||||||||||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 0 | $ 0 | 0 | $ 0 | $ 0 | 0 | 0 | 0 | 0 | 0 | 0 | $ 0 | ||
Interest paid | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | 0 | |||||||
Equipment acquired with financing arrangement | 0 | |||||||||||||
Fair value of common stock issued for future services | $ 0 |
Restatement and Revision - Co_4
Restatement and Revision - Consolidated Statement of Stockholders Equity (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Common Stock, Value, Issued | $ 6,190 | $ 6,181 | $ 5,912 | $ 4,833 | $ 4,178 | $ 3,477 | $ 6,181 | $ 4,178 | $ 6,190 | $ 4,833 | $ 6,205 | $ 5,005 | ||
Stockholders' Equity Attributable to Parent | 74,290,500 | 75,468,244 | 63,539,557 | 30,207,987 | 21,044,823 | 7,826,321 | 75,468,244 | 21,044,823 | 74,290,500 | 30,207,987 | 74,825,135 | 31,928,189 | $ 14,100,000 | $ 14,118,240 |
Stock issued for payment of services | 147,329 | 125,000 | ||||||||||||
Stock issuance costs | (1,094,929) | (747,379) | ||||||||||||
Net income (loss) | (1,400,792) | (158,405) | (1,892,937) | (1,132,340) | (1,839,914) | (6,450,414) | (2,051,342) | (8,290,328) | (3,452,134) | (9,422,668) | (3,140,621) | (10,508,395) | ||
Common Stock [Member] | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Common Stock, Value, Issued | 50,050,167 | 34,634,172 | ||||||||||||
Stockholders' Equity Attributable to Parent | 6,190 | 6,181 | 5,912 | 4,833 | 4,178 | 3,477 | 6,181 | 4,178 | 6,190 | 4,833 | 6,205 | 5,005 | 3,464 | |
Stock issued for payment of services | $ 3 | $ 39 | ||||||||||||
Stock issued for payment of services, net (shares) | 30,324 | 390,625 | ||||||||||||
Additional Paid-in Capital [Member] | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Stockholders' Equity Attributable to Parent | 148,229,391 | 148,006,352 | 135,919,529 | 99,610,374 | 89,315,525 | 74,257,810 | 148,006,352 | 89,315,525 | 148,229,391 | 99,610,374 | $ 148,452,498 | $ 102,416,131 | 74,099,328 | |
Stock issued for payment of services | 147,326 | 124,961 | ||||||||||||
Stock issuance costs | (1,094,929) | (747,379) | ||||||||||||
Accumulated Deficit [Member] | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Stockholders' Equity Attributable to Parent | (73,945,081) | (72,544,289) | (72,385,884) | (69,407,220) | (68,274,880) | (66,434,966) | (72,544,289) | (68,274,880) | (73,945,081) | (69,407,220) | (73,633,568) | (70,492,947) | (59,984,552) | |
Net income (loss) | $ (3,140,621) | (10,508,395) | ||||||||||||
Previously Reported | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Common Stock, Value, Issued | 6,190 | 6,181 | 5,912 | 4,833 | 4,178 | 3,477 | 6,181 | 4,178 | 6,190 | 4,833 | 5,005 | |||
Stockholders' Equity Attributable to Parent | 74,015,924 | 75,273,633 | 63,298,227 | 30,021,035 | 20,980,331 | 7,713,057 | 75,273,633 | 20,980,331 | 74,015,924 | 30,021,035 | 31,786,360 | $ 13,700,000 | ||
Stock Issued During Period, Value, Sale of Securities | 28,455,096 | |||||||||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 11,241 | 45,942 | 2,144 | 0 | 2,313 | 48,086 | 2,313 | 59,327 | 2,313 | 7,634 | ||||
Stock issued for payment of services | 37,544 | 37,544 | 34,696 | 31,250 | 31,249 | 31,250 | 72,240 | 62,499 | 109,784 | 93,749 | 125,000 | |||
Stock issuance costs | (14,094) | (333,878) | (746,957) | (222,754) | (455,706) | (2,326) | (1,080,835) | (458,032) | (1,094,929) | (680,786) | (747,379) | |||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 477,993 | |||||||||||||
Net income (loss) | (1,480,757) | (111,686) | (1,992,438) | (1,254,800) | (1,791,142) | (6,163,461) | (2,104,124) | (7,954,603) | (3,584,881) | (9,209,403) | (10,250,007) | |||
Revision adjustment | 79,965 | (46,719) | 99,501 | 122,460 | (48,772) | (286,953) | (335,725) | 132,747 | (213,265) | (258,388) | ||||
Previously Reported | Common Stock [Member] | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Stockholders' Equity Attributable to Parent | 6,181 | 6,181 | 5,005 | |||||||||||
Stock Issued During Period, Shares, Sale of Securities | 2,484,393 | 8,701,691 | 6,401,931 | 6,856,241 | 11,186,084 | 6,856,241 | 11,186,084 | 13,258,172 | 14,819,740 | |||||
Stock Issued During Period, Value, Sale of Securities | 1,482 | |||||||||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 2 | 14 | 0 | 0 | 1 | 14 | 1 | 16 | 1 | $ 1 | ||||
Stock purchase plan issuances (shares) | 15,573 | |||||||||||||
Stock issued for payment of services | $ 1 | $ 0 | $ 1 | $ 10 | $ 9 | $ 10 | $ 1 | $ 19 | $ 2 | $ 29 | $ 39 | |||
Stock issued for payment of services, net (shares) | 7,716 | 7,716 | 7,176 | 97,655 | 97,655 | 97,655 | 14,892 | 195,310 | 22,608 | 292,965 | 390,625 | |||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | $ 19 | |||||||||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 190,057 | |||||||||||||
Previously Reported | Additional Paid-in Capital [Member] | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Stockholders' Equity Attributable to Parent | $ 148,006,352 | $ 148,006,352 | $ 102,416,131 | |||||||||||
Stock Issued During Period, Value, Sale of Securities | 28,453,614 | |||||||||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | $ 11,239 | 45,928 | $ 2,144 | $ 0 | $ 2,312 | 48,072 | $ 2,312 | $ 59,311 | $ 2,312 | 7,633 | ||||
Stock issued for payment of services | 37,543 | 37,544 | 34,695 | 31,240 | 31,240 | $ 31,240 | 72,239 | 62,480 | 109,782 | 93,720 | 124,961 | |||
Stock issuance costs | (14,094) | (333,878) | (746,957) | (222,754) | (455,706) | (2,326) | (1,080,835) | (458,032) | (1,094,929) | (680,786) | (747,379) | |||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 477,974 | |||||||||||||
Previously Reported | Accumulated Deficit [Member] | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Stockholders' Equity Attributable to Parent | (72,738,900) | (72,627,214) | (68,339,372) | (66,548,230) | (72,738,900) | (68,339,372) | ||||||||
Net income (loss) | (1,480,757) | (111,686) | (1,992,438) | (1,254,800) | (1,791,142) | (6,163,461) | (2,104,124) | (7,954,603) | (3,584,881) | (9,209,403) | (10,250,007) | |||
Revision adjustment | 79,965 | (46,719) | 99,501 | 122,460 | (48,772) | (286,953) | (335,725) | 132,747 | (213,265) | (258,388) | ||||
Revision of Prior Period, Adjustment | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Common Stock, Value, Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Stockholders' Equity Attributable to Parent | 274,576 | 194,611 | 241,330 | 186,952 | 64,492 | 113,264 | 194,611 | 64,492 | 274,576 | 186,952 | 141,829 | |||
Net income (loss) | $ 79,965 | (46,719) | 99,501 | $ 122,460 | $ (48,772) | (286,953) | 52,782 | (335,725) | $ 132,747 | $ (213,265) | $ (258,388) | |||
Revision adjustment | (194,611) | 241,330 | 113,264 | 52,782 | 64,492 | |||||||||
Revision of Prior Period, Adjustment | Accumulated Deficit [Member] | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Revision adjustment | $ (194,611) | $ 241,330 | $ 113,264 | $ 52,782 | $ 64,492 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Mar. 31, 2021 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Line Items] | ||||||||
Property and equipment gross | $ 816,330 | $ 802,910 | ||||||
Less accumulated depreciation | (661,145) | (571,992) | ||||||
Property and equipment, net | $ 219,563 | $ 193,786 | $ 282,082 | $ 157,769 | $ 260,994 | 155,185 | 230,918 | |
Depreciation and amortization | $ 32,486 | $ 35,629 | $ 65,687 | $ 70,207 | $ 98,759 | $ 102,495 | 130,478 | 135,077 |
Furniture and Fixtures [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Property and equipment gross | 208,583 | 221,733 | ||||||
Office Equipment [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Property and equipment gross | 66,417 | 67,833 | ||||||
Computer Equipment [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Property and equipment gross | 541,330 | 513,344 | ||||||
Depreciation and Amortization Expense [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Depreciation and amortization | $ 130,478 | $ 135,077 |
Intangible Assets - Schedule of
Intangible Assets - Schedule of Identifiable Intangible Assets (Details) - USD ($) | 12 Months Ended | ||||||
Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | |
Finite-Lived Intangible Assets [Line Items] | |||||||
Less accumulated amortization | $ (6,211,469) | $ (5,705,913) | |||||
Intangible assets, net | 213,263 | 505,556 | $ 72,222 | $ 288,889 | $ 768,879 | $ 1,006,536 | $ 1,246,526 |
Indefinite-lived Intangible Assets Acquired | 213,263 | 0 | |||||
Intangible Assets, Gross (Excluding Goodwill) | 6,424,732 | 6,211,469 | |||||
Content provider networks | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, gross | 160,000 | 160,000 | |||||
Less accumulated amortization | $ (160,000) | (160,000) | |||||
Useful life (in years) | 2 years | ||||||
Trade names | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, gross | $ 87,000 | 87,000 | |||||
Less accumulated amortization | $ (87,000) | (87,000) | |||||
Useful life (in years) | 1 year | ||||||
Developed technology | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, gross | $ 820,000 | 820,000 | |||||
Less accumulated amortization | $ (820,000) | (820,000) | |||||
Useful life (in years) | 5 years | ||||||
Self-service content customers | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, gross | $ 2,810,000 | 2,810,000 | |||||
Less accumulated amortization | $ (2,810,000) | (2,304,444) | |||||
Useful life (in years) | 3 years | ||||||
Managed content customers | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, gross | $ 2,140,000 | 2,140,000 | |||||
Less accumulated amortization | $ (2,140,000) | (2,140,000) | |||||
Useful life (in years) | 3 years | ||||||
Domains | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, gross | $ 166,469 | 166,469 | |||||
Less accumulated amortization | $ (166,469) | (166,469) | |||||
Useful life (in years) | 5 years | ||||||
Embedded non-compete provision | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, gross | $ 28,000 | 28,000 | |||||
Less accumulated amortization | $ (28,000) | $ (28,000) | |||||
Useful life (in years) | 2 years |
Intangible Assets - Schedule _2
Intangible Assets - Schedule of Other Acquired Assets (Details) - USD ($) | 12 Months Ended | ||||||
Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | |
Finite-Lived Intangible Assets [Line Items] | |||||||
Intangible Assets, Gross (Excluding Goodwill) | $ 6,424,732 | $ 6,211,469 | |||||
Less accumulated amortization | (6,211,469) | (5,705,913) | |||||
Intangible assets, net | 213,263 | 505,556 | $ 72,222 | $ 288,889 | $ 768,879 | $ 1,006,536 | $ 1,246,526 |
Indefinite-lived Intangible Assets Acquired | 213,263 | 0 | |||||
Ebyline Intangible Assets | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Total | 2,370,000 | 2,370,000 | |||||
ZenContent Intangible Assets | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Total | 722,000 | 722,000 | |||||
Domains | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Total | 166,469 | 166,469 | |||||
TapInfluence Intangible Assets | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Total | $ 2,953,000 | $ 2,953,000 |
Intangible Assets - (Detail Tex
Intangible Assets - (Detail Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2021 | Mar. 31, 2020 | Jun. 30, 2020 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Finite-Lived Intangible Assets [Line Items] | ||||||
Impairment of goodwill | $ 0 | $ 4,300,000 | $ 4,300,000 | $ 4,300,000 | $ 0 | $ 4,300,000 |
Impairment of Intangible Assets, Finite-lived | 0 | 0 | ||||
Proceeds from the sale of digital assets | 216,675 | 0 | ||||
(Gain) on sale of digital assets | (189,307) | 0 | ||||
Gain on digital asset | 189,307 | |||||
Digital assets [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Impairment of Intangible Assets, Finite-lived | 3,412 | |||||
Finite-lived intangible assets, gross | 213,263 | 213,263 | ||||
Finite-lived asset sold during the period | $ 33,921 | 33,921 | ||||
Depreciation and Amortization Expense [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Amortization of intangible assets | $ 505,556 | $ 1,105,960 |
Intangible Assets - Goodwill Ba
Intangible Assets - Goodwill Balance (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2021 | Mar. 31, 2020 | Jun. 30, 2020 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||
Goodwill, beginning balance | $ 4,016,722 | $ 8,316,722 | $ 8,316,722 | $ 8,316,722 | $ 4,016,722 | $ 8,316,722 |
Acquisitions, impairments or other changes during the year | 0 | (4,300,000) | (4,300,000) | (4,300,000) | 0 | (4,300,000) |
Goodwill, ending balance | $ 4,016,722 | $ 4,016,722 | $ 4,016,722 | $ 4,016,722 | $ 4,016,722 | $ 4,016,722 |
Software Development Costs - Sc
Software Development Costs - Schedule of Software Development Cost (Details) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 |
Research and Development [Abstract] | ||||||||
Software development costs | $ 3,036,810 | $ 3,036,810 | ||||||
Less accumulated amortization | (2,017,210) | (1,564,126) | ||||||
Software development costs, net | $ 1,019,600 | $ 1,127,093 | $ 1,242,252 | $ 1,356,308 | $ 1,472,684 | $ 1,480,288 | $ 1,413,920 | $ 1,470,334 |
Software Development Costs - _2
Software Development Costs - Schedule of Future Estimated Amortization Expense (Details) - Software and Software Development Costs [Member] | Dec. 31, 2021USD ($) |
Finite-Lived Intangible Assets [Line Items] | |
Software Amortization Expense, 2022 | $ 400,474 |
Software Amortization Expense, 2023 | 359,685 |
Software Amortization Expense, 2024 | 177,764 |
Software Amortization Expense, 2025 | 78,920 |
Software Amortization Expense, 2026 | 2,757 |
Software Amortization Expense, Total | $ 1,019,600 |
Software Development Costs (Det
Software Development Costs (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Finite-Lived Intangible Assets [Line Items] | ||
Capitalized computer software, additions | $ 0 | $ 363,793 |
Capitalized computer software, gross | $ 3,036,810 | $ 3,036,810 |
Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful life (in years) | 60 years | |
Maximum [Member] | Software Development [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful life (in years) | 5 years |
Accrued Expenses (Details)
Accrued Expenses (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Accrued Expenses [Line Items] | ||
Accrued payroll liabilities | $ 2,251,284 | $ 1,504,113 |
Accrued taxes | 76,079 | 286,455 |
Accrued other | 142,131 | 103,918 |
Total accrued liabilities | 2,502,882 | 1,924,973 |
Accrued Liabilities | ||
Accrued Expenses [Line Items] | ||
Current portion of finance obligation | $ 33,388 | $ 30,487 |
Notes Payable - Canada Emergenc
Notes Payable - Canada Emergency Business Account (Details) - 12 months ended Dec. 31, 2021 - Canada Emergency Business Account Term Loan [Member] | CAD ($) | USD ($) | USD ($) |
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 40,000 | $ 31,648 | |
Debt Instrument, Periodic Payment, Principal | $ 0 | ||
Debt Instrument, Periodic Payment, Interest | 0 | ||
Debt Instrument, Decrease, Forgiveness | $ 10,000 | ||
Percentage of loan to be repaid for debt forgiveness | 75.00% | 75.00% | |
Amount of loan to be repaid for debt forgiveness | $ 30,000 |
Notes Payable -Payment Protecti
Notes Payable -Payment Protection Program (Details) - USD ($) | Apr. 23, 2020 | Jun. 30, 2021 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | |||||
(Gain) on the forgiveness of debt | $ (1,927,220) | $ (1,927,220) | $ 1,927,220 | $ 0 | |
SBA Loan - Paycheck Protection Program [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Term | 2 years | ||||
Debt Instrument, Interest Rate, Stated Percentage | 1.00% | ||||
Long-term Debt, Maturities, Repayment Terms | Loan payments on the PPP Loan could be deferred to either (1) the date that the SBA remits the Company’s loan forgiveness amount to the Lender or (2) ten months after the end of the Company’s loan forgiveness covered period if the Company does not apply for loan forgiveness | ||||
Debt Instrument, Face Amount | $ 1,905,100 | ||||
Long-term debt, future contractural maturities 2021 | $ 1,477,139 | ||||
Debt Instrument, Increase, Accrued Interest | 22,120 | ||||
SBA Loan - Paycheck Protection Program [Member] | Gain on forgiveness of debt | |||||
Debt Instrument [Line Items] | |||||
(Gain) on the forgiveness of debt | $ 1,927,220 |
Notes Payable - Finance Obligat
Notes Payable - Finance Obligation (Details) | 12 Months Ended | |
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |
Debt Instrument [Line Items] | ||
Long-term Debt | $ 75,456 | |
Finance Obligation | ||
Debt Instrument [Line Items] | ||
Short-term Debt | 33,388 | $ 30,487 |
Long-term Debt | $ 43,808 | $ 74,295 |
Number of finance obligation | 2 | |
Number of annual payments to vendors for computer equipment | 4 | |
Debt Instrument, Interest Rate, Stated Percentage | 9.50% |
Notes Payable - Secured Credit
Notes Payable - Secured Credit Facility (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Debt Instrument [Line Items] | ||||||||||||
Line of credit facility, annual due diligence fee | $ 1,000 | |||||||||||
Line of Credit Facility, Collateral Fees, Amount | 20,000 | |||||||||||
Interest expense | $ 1,558 | $ 8,739 | $ 13,793 | $ 16,448 | $ 19,476 | $ 6,618 | $ 22,532 | $ 26,094 | $ 24,090 | $ 42,542 | 25,320 | $ 63,012 |
Remaining capitalized loan costs | 0 | |||||||||||
Interest Expense [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Amortization of debt instrument deferred financing fees | 7,000 | 15,750 | ||||||||||
Secured Line of Credit Facility [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Interest expense | 15,410 | 36,125 | ||||||||||
Long-term line of credit | $ 0 | $ 0 |
Notes Payable - Schedule of Fut
Notes Payable - Schedule of Future Maturities (Details) | Dec. 31, 2021USD ($) |
Debt Disclosure [Abstract] | |
Long-term debt, future contractual maturities 2022 | $ 33,388 |
Long-term debt, future contractual maturities 2023 | 42,068 |
Long-term Debt | $ 75,456 |
Commitments and Contingencies -
Commitments and Contingencies - Lease Commitments (Details) | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2021lease | |
Other Commitments [Line Items] | ||
Number of operating lease liabilities | lease | 1 | |
General and Administrative Expense [Member] | ||
Other Commitments [Line Items] | ||
Operating lease payment | $ 113,516 | |
Operating Lease, Expense | $ 264,048 |
Commitments and Contingencies_2
Commitments and Contingencies - Retirement Plans (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Other Commitments [Line Items] | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 50.00% | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 8.00% | |
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage | 20.00% | |
Defined Contribution Plan, Employers Matching Contribution, Years of Service | 2 years | |
Defined Contribution Plan, Cost | $ 231,410 | $ 151,131 |
Cost of revenue [Member] | ||
Other Commitments [Line Items] | ||
Defined Contribution Plan, Cost | 51,331 | 27,990 |
Sales and marketing | ||
Other Commitments [Line Items] | ||
Defined Contribution Plan, Cost | 92,925 | 57,389 |
General and Administrative Expense [Member] | ||
Other Commitments [Line Items] | ||
Defined Contribution Plan, Cost | $ 87,154 | $ 65,752 |
Commitments and Contingencies_3
Commitments and Contingencies - Litigation (Details) | Mar. 06, 2019USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Loss contingency, damages awarded, value | $ 300,000 |
Stockholders' Equity - Authoriz
Stockholders' Equity - Authorized Shares (Detail) - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
Statement of Stockholders' Equity [Abstract] | ||
Common stock, shares authorized (shares) | 200,000,000 | 200,000,000 |
Preferred stock, shares authorized (shares) | 10,000,000 | 10,000,000 |
Preferred stock, par value (per share) | $ 0.0001 | $ 0.0001 |
Stockholders' Equity - Sale of
Stockholders' Equity - Sale of Securities (Details) - USD ($) | Jun. 21, 2021 | Mar. 31, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Aug. 22, 2021 | Jan. 25, 2021 | Jun. 12, 2020 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Proceeds from sale of securities | $ 34,358,012 | $ 46,544,688 | $ 15,361,853 | $ 46,544,688 | $ 25,740,293 | $ 46,544,688 | $ 28,455,096 | ||||
2011 B Equity Incentive Plan | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Common stock, capital shares reserved for future issuance (shares) | 4,375 | ||||||||||
2020 and 2021 Sales Agreements | |||||||||||
Share-based Payment Arrangement [Abstract] | |||||||||||
Sale of stock, number of shares issued in transaction | 26,005,824 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Proceeds from sale of securities | $ 74,999,784 | ||||||||||
Sale of stock, price per share (per share) | $ 2.88 | ||||||||||
Sale of stock, number of shares issued in transaction | 26,005,824 | ||||||||||
ATM Sales Agreement June 2021 Sale Agreement | |||||||||||
Share-based Payment Arrangement [Abstract] | |||||||||||
Sale of stock, number of shares issued in transaction | 0 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Sale of stock, number of shares issued in transaction | 0 | ||||||||||
Common stock, capital shares reserved for future issuance (shares) | 100,000,000 | ||||||||||
At the Market (ATM) Offering [Member] | |||||||||||
Share-based Payment Arrangement [Abstract] | |||||||||||
Sale of stock, number of shares issued in transaction | 11,186,084 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Proceeds from sale of securities | $ 46,544,688 | ||||||||||
Sale of stock, price per share (per share) | $ 4.16 | ||||||||||
Sale of stock, number of shares issued in transaction | 11,186,084 | ||||||||||
Common stock, capital shares reserved for future issuance (shares) | 35,000,000 | 40,000,000 |
Stockholders' Equity - Equity I
Stockholders' Equity - Equity Incentive Plan (Details) - shares | Dec. 31, 2021 | Aug. 22, 2011 |
Equity Incentive B 2011 Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Common stock, capital shares reserved for future issuance (shares) | 0 | |
Incentive compensation for employees and consultants [Member] | The Amended and Restated May 2011 Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Common stock, capital shares reserved for future issuance (shares) | 3,534,570 | |
Maximum [Member] | Incentive compensation for employees and consultants [Member] | The Amended and Restated May 2011 Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Common stock, capital shares reserved for future issuance (shares) | 7,500,000 |
Stockholders' Equity - Restrict
Stockholders' Equity - Restricted Stock (Details) | Jan. 31, 2020USD ($)directorsshares | Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Stock issued for payment of services | $ 147,329 | $ 125,000 | |||||||
Number of independent directors | directors | 5 | ||||||||
Fair value of common stock issued for future services | $ 147,329 | $ 125,000 | $ 147,329 | $ 125,000 | $ 147,329 | $ 125,000 | |||
Independent Directors [Member] | Restricted stock | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Stock issued for payment of services (shares) | shares | 390,625 | ||||||||
Stock issued for payment of services | $ 125,000 | ||||||||
Employees [Member] | Restricted stock | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Restricted stock or unit expense | 24,699 | 33,677 | |||||||
Non-Employees [Member] | Restricted stock | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Restricted stock or unit expense | 147,329 | $ 125,000 | |||||||
Equity Incentive 2011 Plan [Member] | Restricted stock | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Fair value of common stock issued for future services | 6,503 | ||||||||
Share-based compensation arrangement by share-based payment award, equity instruments other than options, aggregate intrinsic value, nonvested | $ 4,761 |
Stockholders' Equity - Schedule
Stockholders' Equity - Schedule of Non-Vested Restricted Stock (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Restricted stock units, nonvested beginning of period | 13,666 | 31,282 | |
Restricted stock units, nonvested grants in period | 30,324 | 390,625 | |
Restricted stock units, nonvested vested in period | (40,437) | (408,241) | |
Restricted stock units, nonvested forfeited in period | 0 | 0 | |
Restricted stock units, nonvested ending of period | 3,553 | 13,666 | 31,282 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |||
Restricted stock units, nonvested weighted average grant date fair value | $ 2.28 | $ 2.15 | |
Restricted stock units, nonvested grants in period, weighted average grant date fair value | 4.86 | 0.32 | |
Restricted stock units , nonvested vested in period, weighted average grant date fair value | 4.25 | 0.39 | |
Restricted stock units, nonvested weighted average grant date fair value | $ 1.83 | $ 2.28 | $ 2.15 |
Restricted stock units, nonvested weighted average remaining contractual terms | 8 months 12 days | 1 year 4 months 24 days | 1 year 10 months 24 days |
Stockholders' Equity - Restri_2
Stockholders' Equity - Restricted Stock Units (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Mar. 31, 2021 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Stock issued for payment of services | $ 147,329 | $ 125,000 | |||||||
Fair value of common stock issued for future services | $ 147,329 | $ 125,000 | $ 147,329 | $ 125,000 | $ 147,329 | $ 125,000 | |||
Common stock, par value (per share) | $ 0.0001 | $ 0.0001 | |||||||
Restricted Stock Units (RSUs) [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Fair value of common stock issued for future services | $ 321,133 | ||||||||
Share-based compensation arrangement by share-based payment award, equity instruments other than options, aggregate intrinsic value, nonvested | $ 503,095 | ||||||||
Restricted stock units, nonvested weighted average remaining contractual terms | 1 year 9 months 18 days | 1 year 2 months 12 days | 3 years 2 months 12 days | ||||||
Stock options | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Common stock, par value (per share) | $ 1.34 | ||||||||
Non Executive Employees [Member] | Restricted Stock Units (RSUs) [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Stock issued for payment of services, net (shares) | 122,599 | ||||||||
Stock issued for payment of services | $ 260,288 | ||||||||
Non Executive Employees [Member] | Restricted Stock Units (RSUs) [Member] | Minimum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Share-based compensation arrangement by share-based payment award, award vesting period (in years) | 12 months | ||||||||
Non Executive Employees [Member] | Restricted Stock Units (RSUs) [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Share-based compensation arrangement by share-based payment award, award vesting period (in years) | 36 months | ||||||||
Mr. Murphy | Restricted Stock Units (RSUs) [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Stock issued for payment of services, net (shares) | 100,000 | ||||||||
Stock issued for payment of services | $ 394,000 | ||||||||
Share-based compensation arrangement by share-based payment award, award vesting period (in years) | 10 months | ||||||||
Mr. Biere | Restricted Stock Units (RSUs) [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Stock issued for payment of services, net (shares) | 7,039 | ||||||||
Stock issued for payment of services | $ 15,736 | ||||||||
Employees [Member] | Restricted Stock Units (RSUs) [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Restricted stock or unit expense | $ 575,150 | $ 214,528 |
Stockholders' Equity - Restri_3
Stockholders' Equity - Restricted Stock Units Schedule (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Restricted stock units, nonvested beginning of period | 970,349 | 366,812 | |
Restricted stock units, nonvested grants in period | 229,638 | 930,145 | |
Restricted stock units, nonvested vested in period | (817,417) | (172,441) | |
Restricted stock units, nonvested forfeited in period | (7,126) | (154,167) | |
Restricted stock units, nonvested ending of period | 375,444 | 970,349 | 366,812 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |||
Restricted stock units, nonvested weighted average grant date fair value | $ 0.39 | $ 0.42 | |
Restricted stock units, nonvested grants in period, weighted average grant date fair value | 2.93 | 0.37 | |
Restricted stock units , nonvested vested in period, weighted average grant date fair value | 0.83 | 0.41 | |
Restricted stock units, nonvested forfeited in period, weighted average grant date fair value | 1.77 | 0.30 | |
Restricted stock units, nonvested weighted average grant date fair value | $ 0.96 | $ 0.39 | $ 0.42 |
Restricted stock units, nonvested weighted average remaining contractual terms | 1 year 9 months 18 days | 1 year 2 months 12 days | 3 years 2 months 12 days |
Stockholders' Equity - Stock Op
Stockholders' Equity - Stock Options (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Common stock, par value (per share) | $ 0.0001 | $ 0.0001 | |
Stock option plan expense | $ 270,958 | $ 225,083 | |
Percentage of individual ownership of common stock (percentage) | 10.00% | ||
Common shares, exercised | 369 | ||
Share-based compensation arrangement by share-based payment award, options, outstanding, intrinsic value | $ 444,637 | ||
Proceeds from Stock Options Exercised | 58,971 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 488,514 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value | $ 265 | ||
Equity Incentive 2011 Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Common shares outstanding | 1,795,663 | 1,712,806 | 1,357,837 |
Common shares expected to vest | 1,139,859 | ||
Common shares expected to vest weighted average | $ 3.54 | ||
Common shares, exercised | 182,722 | 369 | |
Share-based compensation arrangement by share-based payment award, options, exercisable, intrinsic value | $ 207,141 | ||
Weighted average remaining years to vest (in years) | 2 years 3 months 18 days | 2 years 6 months | 3 years |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 2.79 | $ 2.56 | $ 3.24 |
May 2011 and August 2011 Equity Incentive Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair market value of incentive stock options | 100.00% | ||
Share-based Payment Arrangement, Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Common stock, par value (per share) | $ 1.34 | ||
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized | $ 682,518 | ||
Proceeds from issuance or sale of equity | $ 369 | ||
Individual Stock Ownership in Excess of 10 Percent [Member] | May 2011 and August 2011 Equity Incentive Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair market value of incentive stock options | 110.00% | ||
Total vesting period [Member] | Share-based Payment Arrangement, Option [Member] | May 2011 and August 2011 Equity Incentive Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation arrangement by share-based payment award, award vesting period (in years) | 10 years | ||
Twelve Months After Grant Date [Member] | May 2011 and August 2011 Equity Incentive Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage of individual ownership of common stock (percentage) | 25.00% | ||
Stock option vesting period from grant date (in years) | 1 year | ||
Monthly in equal installments [Member] | Share-based Payment Arrangement, Option [Member] | May 2011 and August 2011 Equity Incentive Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation arrangement by share-based payment award, award vesting period (in years) | 3 years |
Stockholders' Equity - Schedu_2
Stockholders' Equity - Schedule of Options Outstanding (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |||
Common shares, exercised | (369) | ||
Equity Incentive 2011 Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |||
Common shares, outstanding beginning of period | 1,712,806 | 1,357,837 | |
Total stock options granted | 296,569 | 411,350 | |
Common shares, exercised | (182,722) | (369) | |
Common shares, forfeited | (30,990) | (56,012) | |
Common shares, outstanding end of period | 1,795,663 | 1,712,806 | 1,357,837 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | |||
Weighted average exercise price, beginning of period | $ 2.56 | $ 3.24 | |
Weighted average exercise price, granted | 2.60 | 0.69 | |
Weighted average exercise price, exercised | 3.26 | 1 | |
Weighted average exercise price, forfeited | 0.32 | 5.08 | |
Weighted average exercise price, end of period | $ 2.79 | $ 2.56 | $ 3.24 |
Weighted average remaining life (years), outstanding | 6 years 4 months 24 days | 6 years 10 months 24 days | 7 years 2 months 12 days |
Common shares expected to vest | 1,139,859 | ||
Common shares expected to vest weighted average | $ 3.54 | ||
Weighted average remaining useful life exercisable | 5 years 1 month 6 days |
Stockholders' Equity - Schedu_3
Stockholders' Equity - Schedule of Nonvested Stock Option (Details) - Equity Incentive 2011 Plan [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward] | |||
Common shares, nonvested beginning of period | 715,486 | 600,779 | |
Common shares, granted | 296,569 | 411,350 | |
Common shares, vested | (339,099) | (283,766) | |
Common shares, forfeited | (17,152) | (12,877) | |
Common shares, nonvested end of period | 655,804 | 715,486 | 600,779 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Weighted average grant date fair value, nonvested beginning of period | $ 0.56 | $ 0.64 | |
Weighted average grant date fair value, granted | 2.25 | 0.56 | |
Weighted average grant date fair value, vested | 0.73 | 0.72 | |
Weighted average grant date fair value, forfeited | 1.38 | 0.88 | |
Weighted average grant date fair value, nonvested end of period | $ 1.22 | $ 0.56 | $ 0.64 |
Weighted average remaining years to vest (in years) | 2 years 3 months 18 days | 2 years 6 months | 3 years |
Stockholders' Equity - Schedu_4
Stockholders' Equity - Schedule of Stock Option Assumptions (Details) - Equity Incentive 2011 Plan [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock options granted | 296,569 | 411,350 |
Weighted average exercise price, granted | $ 2.60 | $ 0.69 |
Expected term (in years) | 6 years | 6 years |
Weighted average volatility (percentage) | 120.18% | 108.58% |
Weighted average risk free interest rate (percentage) | 0.98% | 0.46% |
Weighted average grant date fair value, granted | $ 2.25 | $ 0.56 |
Weighted-average expected forfeiture rate (percentage) | 11.74% | 7.72% |
Stockholders' Equity - Employee
Stockholders' Equity - Employee Stock Purchase Plan (Details) | 12 Months Ended | |
Dec. 31, 2021USD ($)hoursshares | Dec. 31, 2020USD ($)shares | |
Stock options | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Adjustments to additional paid in capital, share-based compensation, requisite service period recognition (in dollars) | $ | $ 878,739 | $ 477,993 |
2014 Employee Stock Purchase Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Common stock, capital shares reserved for future issuance (shares) | shares | 500,000 | |
Share-based compensation arrangement by share-based payment award, award vesting period (in days) | 90 days | |
Minimum hour requirement for employees participation in the ESSP (hours) | hours | 20 | |
Employee stock ownership plan (ESOP), successive offering period | 6 months | |
Annual compensation limit percentage, employee stock purchase plan (percentage) | 10.00% | |
Annual compensation limit, employee stock purchase plan (dollars) | $ | $ 21,250 | |
Shares issuance limit per offering period, employee stock purchase plan | shares | 2,000 | |
Fair market value of shares available for issuance (percentage) | 85.00% | |
Stock purchase plan issuances (shares) | shares | 8,113 | 5,539 |
Proceeds Employee Stock Purchase Plans | $ | $ 5,395 | $ 5,320 |
Remaining Common Stock, Capital Shares Reserved for Future Issuance | shares | 387,500 | |
2014 Employee Stock Purchase Plan [Member] | Stock options | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Adjustments to additional paid in capital, share-based compensation, requisite service period recognition (in dollars) | $ | $ 7,932 | $ 4,705 |
Stockholders' Equity - Summary
Stockholders' Equity - Summary Stock-Based Compensation (Details) - Stock options - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Adjustments to additional paid in capital, share-based compensation, requisite service period recognition (in dollars) | $ 878,739 | $ 477,993 |
Cost of revenue [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Adjustments to additional paid in capital, share-based compensation, requisite service period recognition (in dollars) | 9,160 | 10,152 |
Selling and Marketing Expense [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Adjustments to additional paid in capital, share-based compensation, requisite service period recognition (in dollars) | 22,115 | 55,458 |
General and Administrative Expense [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Adjustments to additional paid in capital, share-based compensation, requisite service period recognition (in dollars) | $ 847,464 | $ 412,383 |
Loss Per Common Share - Schedul
Loss Per Common Share - Schedule of Dilutive Shares (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Earnings Per Share [Abstract] | ||||||||||||
Net income (loss) | $ (1,400,792) | $ (158,405) | $ (1,892,937) | $ (1,132,340) | $ (1,839,914) | $ (6,450,414) | $ (2,051,342) | $ (8,290,328) | $ (3,452,134) | $ (9,422,668) | $ (3,140,621) | $ (10,508,395) |
Weighted average common shares outstanding – basic and diluted | 61,883,017 | 61,386,913 | 56,334,219 | 45,772,638 | 36,108,073 | 34,681,198 | 58,874,526 | 35,394,639 | 59,875,142 | 38,879,218 | 60,407,921 | 41,289,705 |
Basic and diluted loss per common share | $ (0.05) | $ (0.25) |
Loss Per Common Share - Sched_2
Loss Per Common Share - Schedule of Anti-Dilutive Shares (Details) - shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share, amount | 2,288,908 | 2,780,730 |
Stock options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share, amount | 1,750,096 | 1,560,828 |
Restricted Stock Units (RSUs) [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share, amount | 516,180 | 980,785 |
Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share, amount | 22,632 | 232,600 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share, amount | 0 | 6,517 |
Revenue - Disaggregation of Rev
Revenue - Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||||||||||
Revenue from contract with customer, excluding assessed tax | $ 7,734,374 | $ 6,416,451 | $ 5,528,166 | $ 4,207,554 | $ 3,049,817 | $ 4,324,475 | $ 11,944,617 | $ 7,374,292 | $ 19,678,991 | $ 11,581,846 | $ 30,022,377 | $ 17,967,207 |
Managed Services Revenue | ||||||||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||||||||||
Revenue from contract with customer, excluding assessed tax | 28,203,556 | 15,625,273 | ||||||||||
Marketplace Spend Fees | ||||||||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||||||||||
Revenue from contract with customer, excluding assessed tax | 319,419 | 621,536 | ||||||||||
License Fees | ||||||||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||||||||||
Revenue from contract with customer, excluding assessed tax | 1,454,874 | 1,667,662 | ||||||||||
Other Fees | ||||||||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||||||||||
Revenue from contract with customer, excluding assessed tax | 44,528 | 52,736 | ||||||||||
SaaS Services Revenue | ||||||||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||||||||||
Revenue from contract with customer, excluding assessed tax | 1,818,821 | 2,341,934 | ||||||||||
United States | ||||||||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||||||||||
Revenue from contract with customer, excluding assessed tax | 29,390,892 | 16,964,603 | ||||||||||
Canada | ||||||||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||||||||||
Revenue from contract with customer, excluding assessed tax | $ 631,485 | $ 1,002,604 |
Revenue - Contract Balances (De
Revenue - Contract Balances (Details) | 12 Months Ended | |||||||
Dec. 31, 2021USD ($) | Sep. 30, 2021USD ($) | Jun. 30, 2021USD ($) | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Sep. 30, 2020USD ($) | Jun. 30, 2020USD ($) | Mar. 31, 2020USD ($) | |
Revenue from Contract with Customer [Abstract] | ||||||||
Accounts receivable, net | $ 7,599,103 | $ 7,093,028 | $ 6,132,949 | $ 4,071,940 | $ 5,207,205 | $ 3,981,132 | $ 3,053,135 | $ 3,977,571 |
Contract liabilities (unearned revenue) | $ 11,338,095 | $ 10,103,075 | $ 8,197,992 | $ 6,639,150 | $ 6,634,870 | $ 6,461,575 | $ 5,510,305 | $ 5,178,515 |
Length of contract with customers | 1 year | |||||||
Contract length for sales commissions payment | 1 |
Income Taxes - Deferred Income
Income Taxes - Deferred Income Taxes (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets: | ||
Net operating loss carry forwards | $ 23,877,000 | $ 22,376,000 |
Accrued expenses | 430,000 | 281,000 |
Stock option and warrant expenses | 504,000 | 474,000 |
Accounts receivable | 41,000 | 38,000 |
Other | (42,000) | 3,000 |
Total deferred tax assets | 24,810,000 | 23,172,000 |
Valuation allowance | (24,684,000) | (22,950,000) |
Net deferred tax assets | 126,000 | 222,000 |
Deferred tax liabilities: | ||
Fixed and tangible assets | (126,000) | (222,000) |
Total deferred tax liabilities | 126,000 | 222,000 |
Total deferred tax assets (liabilities) | $ 0 | $ 0 |
Income Taxes - Effective Rate R
Income Taxes - Effective Rate Reconciliation (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||
Federal income tax at statutory rates | (21.00%) | (21.00%) |
Change in deferred tax asset valuation allowance | 53.70% | 13.80% |
Deferred state taxes | (7.20%) | (2.10%) |
Non-deductible expenses: | ||
Goodwill impairment | 0.00% | 9.00% |
ISO & Restricted stock compensation | (6.40%) | (0.10%) |
Change in state & federal deferred rate | (5.90%) | 0.20% |
PPP loan forgiveness | $ (0.134) | $ 0 |
Other | 0.20% | (0.20%) |
Income taxes at effective rates | 0.00% | 0.00% |
Income Taxes (Details Textual)
Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Examination [Line Items] | ||
Operating loss carryforwards, valuation allowance | $ 1,734,000 | $ 1,289,000 |
Minimum [Member] | ||
Income Tax Examination [Line Items] | ||
Operating loss carryforwards, expiration year | 2026 | |
Maximum [Member] | ||
Income Tax Examination [Line Items] | ||
Operating loss carryforwards, expiration year | 2040 | |
Domestic Tax Authority | ||
Income Tax Examination [Line Items] | ||
Operating loss carryforwards | $ 91,220,139 | |
State and Local Jurisdiction | ||
Income Tax Examination [Line Items] | ||
Operating loss carryforwards | $ 93,630,068 |
Unaudited Quarterly Financial_2
Unaudited Quarterly Financial Data - Unaudited Consolidated Balance Sheet (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Cash and cash equivalents | $ 74,451,857 | $ 74,989,876 | $ 65,465,588 | $ 30,617,921 | $ 20,820,273 | $ 5,634,441 | $ 74,989,876 | $ 20,820,273 | $ 74,451,857 | $ 30,617,921 | $ 75,433,295 | $ 33,045,225 | ||
Accounts receivable, net | 7,093,028 | 6,132,949 | 4,071,940 | 3,981,132 | 3,053,135 | 3,977,571 | 6,132,949 | 3,053,135 | 7,093,028 | 3,981,132 | 7,599,103 | 5,207,205 | ||
Prepaid expenses | 1,689,577 | 1,027,145 | 387,008 | 414,695 | 370,009 | 432,180 | 1,027,145 | 370,009 | 1,689,577 | 414,695 | 2,257,382 | 226,559 | ||
Other current assets | 40,853 | 62,694 | 48,340 | 140,291 | 130,656 | 37,097 | 62,694 | 130,656 | 40,853 | 140,291 | 100,522 | 74,467 | ||
Assets, Current | 83,275,315 | 82,212,664 | 69,972,876 | 35,154,039 | 24,374,073 | 10,081,289 | 82,212,664 | 24,374,073 | 83,275,315 | 35,154,039 | 85,390,302 | 38,553,456 | ||
Property and equipment, net | 157,769 | 193,786 | 219,563 | 260,994 | 282,082 | 193,786 | 282,082 | 157,769 | 260,994 | 155,185 | 230,918 | |||
Goodwill | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | $ 8,316,722 | |
Intangible assets, net | 72,222 | 288,889 | 768,879 | 1,006,536 | 1,246,526 | 72,222 | 1,006,536 | 768,879 | 213,263 | 505,556 | ||||
Software development costs, net | 1,127,093 | 1,242,252 | 1,356,308 | 1,480,288 | 1,413,920 | 1,470,334 | 1,242,252 | 1,413,920 | 1,127,093 | 1,480,288 | 1,019,600 | 1,472,684 | ||
Security Deposit | 40,382 | 151,184 | 40,382 | |||||||||||
Assets | 88,576,899 | 87,737,646 | 75,854,358 | 41,680,922 | 31,133,715 | 17,283,209 | 87,737,646 | 31,133,715 | 88,576,899 | 41,680,922 | 90,795,072 | 44,779,336 | ||
Accounts payable | 1,697,645 | 1,907,389 | 2,023,761 | 1,743,008 | 1,290,739 | 1,445,252 | 1,907,389 | 1,290,739 | 1,697,645 | 1,743,008 | 2,086,892 | 2,310,974 | ||
Accrued expenses | 2,419,917 | 2,097,474 | 1,680,722 | 1,267,553 | 1,287,652 | 1,604,588 | 2,097,474 | 1,287,652 | 2,419,917 | 1,267,553 | 2,502,882 | 1,924,973 | ||
Current portion of notes payable | 1,797,976 | 1,157,103 | 837,865 | 1,162,924 | 837,865 | 1,157,103 | 0 | 1,477,139 | ||||||
Contract liabilities | 10,103,075 | 8,197,992 | 6,639,150 | 6,461,575 | 5,510,305 | 5,178,515 | 8,197,992 | 5,510,305 | 10,103,075 | 6,461,575 | 11,338,095 | 6,634,870 | ||
Liabilities, Current | 14,220,637 | 12,202,855 | 12,141,609 | 10,629,239 | 8,926,561 | 9,391,279 | 12,202,855 | 8,926,561 | 14,220,637 | 10,629,239 | 15,927,869 | 12,347,956 | ||
Finance obligation, less current portion | 34,292 | 34,292 | 34,292 | 65,604 | 65,609 | 65,609 | 34,292 | 65,609 | 34,292 | 65,604 | 10,420 | 43,808 | ||
Notes payable, less current portion | 31,470 | 32,255 | 138,900 | 778,092 | 1,096,722 | 9,456,888 | 32,255 | 1,096,722 | 31,470 | 778,092 | 31,648 | 459,383 | ||
Liabilities | 14,286,399 | 12,269,402 | 12,314,801 | 11,472,935 | 10,088,892 | 12,269,402 | 10,088,892 | 14,286,399 | 11,472,935 | 15,969,937 | 12,851,147 | |||
Common Stock, Value, Issued | 6,190 | 6,181 | 5,912 | 4,833 | 4,178 | 3,477 | 6,181 | 4,178 | 6,190 | 4,833 | 6,205 | 5,005 | ||
Additional paid-in capital | 148,229,391 | 148,006,352 | 135,919,529 | 99,610,374 | 89,315,525 | 74,257,810 | 148,006,352 | 89,315,525 | 148,229,391 | 99,610,374 | 148,452,498 | 102,416,131 | ||
Accumulated deficit | (73,945,081) | (72,544,289) | (72,385,884) | (69,407,220) | (68,274,880) | (66,434,966) | (72,544,289) | (68,274,880) | (73,945,081) | (69,407,220) | (73,633,568) | (70,492,947) | (60,000,000) | |
Net income (loss) | (1,400,792) | (158,405) | (1,892,937) | (1,132,340) | (1,839,914) | (6,450,414) | (2,051,342) | (8,290,328) | (3,452,134) | (9,422,668) | (3,140,621) | (10,508,395) | ||
Stockholders' Equity Attributable to Parent | 74,290,500 | 75,468,244 | 63,539,557 | 30,207,987 | 21,044,823 | 7,826,321 | 75,468,244 | 21,044,823 | 74,290,500 | 30,207,987 | 74,825,135 | 31,928,189 | $ 14,100,000 | 14,118,240 |
Liabilities and Equity | 88,576,899 | 87,737,646 | 75,854,358 | 41,680,922 | 31,133,715 | 17,283,209 | 87,737,646 | 31,133,715 | 88,576,899 | 41,680,922 | $ 90,795,072 | 44,779,336 | ||
Previously Reported | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Cash and cash equivalents | 74,451,857 | 74,989,876 | 65,465,588 | 30,617,921 | 20,820,273 | 5,634,441 | 74,989,876 | 20,820,273 | 74,451,857 | 30,617,921 | 33,045,225 | |||
Accounts receivable, net | 7,093,028 | 6,132,949 | 4,071,940 | 3,981,132 | 3,053,135 | 3,977,571 | 6,132,949 | 3,053,135 | 7,093,028 | 3,981,132 | 5,207,205 | |||
Prepaid expenses | 1,646,895 | 1,006,643 | 380,407 | 385,128 | 368,697 | 423,419 | 1,006,643 | 368,697 | 1,646,895 | 385,128 | 199,294 | |||
Other current assets | 40,853 | 62,694 | 48,340 | 140,291 | 130,656 | 37,097 | 62,694 | 130,656 | 40,853 | 140,291 | 74,467 | |||
Assets, Current | 83,232,633 | 82,192,162 | 69,966,275 | 35,124,472 | 24,372,761 | 10,072,528 | 82,192,162 | 24,372,761 | 83,232,633 | 35,124,472 | 38,526,191 | |||
Property and equipment, net | 157,769 | 193,786 | 219,563 | 260,994 | 282,082 | 317,154 | 193,786 | 282,082 | 157,769 | 260,994 | 230,918 | |||
Goodwill | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | 4,016,722 | |||
Intangible assets, net | 72,222 | 288,889 | 768,879 | 1,006,536 | 1,246,526 | 72,222 | 1,006,536 | 768,879 | 505,556 | |||||
Software development costs, net | 1,127,093 | 1,242,252 | 1,356,308 | 1,480,288 | 1,413,920 | 1,470,334 | 1,242,252 | 1,413,920 | 1,127,093 | 1,480,288 | 1,472,684 | |||
Security Deposit | 40,382 | 151,184 | 40,382 | |||||||||||
Assets | 88,534,217 | 87,717,144 | 75,847,757 | 41,651,355 | 31,132,403 | 17,274,448 | 87,717,144 | 31,132,403 | 88,534,217 | 41,651,355 | 44,752,071 | |||
Accounts payable | 1,372,546 | 1,624,725 | 1,675,520 | 1,333,281 | 1,022,960 | 1,130,791 | 1,624,725 | 1,022,960 | 1,372,546 | 1,333,281 | 1,880,144 | |||
Accrued expenses | 2,419,917 | 2,097,474 | 1,680,722 | 1,267,553 | 1,287,652 | 1,604,588 | 2,097,474 | 1,287,652 | 2,419,917 | 1,267,553 | 1,924,973 | |||
Current portion of notes payable | 1,797,976 | 1,157,103 | 837,865 | 1,162,924 | 837,865 | 1,157,103 | 1,477,139 | |||||||
Contract liabilities | 10,660,068 | 8,654,765 | 7,222,120 | 7,028,687 | 5,841,264 | 5,597,479 | 8,654,765 | 5,841,264 | 10,660,068 | 7,028,687 | 7,180,264 | |||
Liabilities, Current | 14,452,531 | 12,376,964 | 12,376,338 | 10,786,624 | 8,989,741 | 9,495,782 | 12,376,964 | 8,989,741 | 14,452,531 | 10,786,624 | 12,462,520 | |||
Finance obligation, less current portion | 34,292 | 34,292 | 34,292 | 65,604 | 65,609 | 65,609 | 34,292 | 65,609 | 34,292 | 65,604 | 43,808 | |||
Notes payable, less current portion | 31,470 | 32,255 | 138,900 | 778,092 | 1,096,722 | 9,561,391 | 32,255 | 1,096,722 | 31,470 | 778,092 | 459,383 | |||
Liabilities | 14,518,293 | 12,443,511 | 12,549,530 | 11,630,320 | 10,152,072 | 12,443,511 | 10,152,072 | 14,518,293 | 11,630,320 | 12,965,711 | ||||
Common Stock, Value, Issued | 6,190 | 6,181 | 5,912 | 4,833 | 4,178 | 3,477 | 6,181 | 4,178 | 6,190 | 4,833 | 5,005 | |||
Additional paid-in capital | 148,229,391 | 148,006,352 | 135,919,529 | 99,610,374 | 89,315,525 | 74,257,810 | 148,006,352 | 89,315,525 | 148,229,391 | 99,610,374 | 102,416,131 | |||
Accumulated deficit | (74,219,657) | (72,738,900) | (72,627,214) | (69,594,172) | (68,339,372) | (66,548,230) | (72,738,900) | (68,339,372) | (74,219,657) | (69,594,172) | (70,634,776) | (60,400,000) | ||
Net income (loss) | (1,480,757) | (111,686) | (1,992,438) | (1,254,800) | (1,791,142) | (6,163,461) | (2,104,124) | (7,954,603) | (3,584,881) | (9,209,403) | (10,250,007) | |||
Stockholders' Equity Attributable to Parent | 74,015,924 | 75,273,633 | 63,298,227 | 30,021,035 | 20,980,331 | 7,713,057 | 75,273,633 | 20,980,331 | 74,015,924 | 30,021,035 | 31,786,360 | $ 13,700,000 | ||
Liabilities and Equity | 88,534,217 | 87,717,144 | 75,847,757 | 41,651,355 | 31,132,403 | 17,274,448 | 87,717,144 | 31,132,403 | 88,534,217 | 41,651,355 | 44,752,071 | |||
Revision of Prior Period, Adjustment | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Cash and cash equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Accounts receivable, net | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Prepaid expenses | 42,682 | 20,502 | 6,601 | 29,567 | 1,312 | 8,761 | 20,502 | 1,312 | 42,682 | 29,567 | 27,265 | |||
Other current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Assets, Current | 42,682 | 20,502 | 6,601 | 29,567 | 1,312 | 8,761 | 20,502 | 1,312 | 42,682 | 29,567 | 27,265 | |||
Property and equipment, net | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Intangible assets, net | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Software development costs, net | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Security Deposit | 0 | 0 | 0 | |||||||||||
Assets | 42,682 | 20,502 | 6,601 | 29,567 | 1,312 | 8,761 | 20,502 | 1,312 | 42,682 | 29,567 | 27,265 | |||
Accounts payable | 325,099 | 282,664 | 348,241 | 409,727 | 267,779 | 314,461 | 282,664 | 267,779 | 325,099 | 409,727 | 430,830 | |||
Accrued expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Current portion of notes payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Contract liabilities | (556,993) | (456,773) | (582,970) | (567,112) | (330,959) | (418,964) | (456,773) | (330,959) | (556,993) | (567,112) | (545,394) | |||
Liabilities, Current | (231,894) | (174,109) | (234,729) | (157,385) | (63,180) | (104,503) | (174,109) | (63,180) | (231,894) | (157,385) | (114,564) | |||
Finance obligation, less current portion | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Notes payable, less current portion | 0 | 0 | 0 | 0 | 0 | (104,503) | 0 | 0 | 0 | 0 | 0 | |||
Liabilities | (231,894) | (174,109) | (234,729) | (157,385) | (63,180) | (174,109) | (63,180) | (231,894) | (157,385) | (114,564) | ||||
Common Stock, Value, Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Additional paid-in capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Accumulated deficit | 274,576 | 194,611 | 241,330 | 186,952 | 64,492 | 113,264 | 194,611 | 64,492 | 274,576 | 186,952 | 141,829 | |||
Net income (loss) | 79,965 | (46,719) | 99,501 | 122,460 | (48,772) | (286,953) | 52,782 | (335,725) | 132,747 | (213,265) | (258,388) | |||
Stockholders' Equity Attributable to Parent | 274,576 | 194,611 | 241,330 | 186,952 | 64,492 | 113,264 | 194,611 | 64,492 | 274,576 | 186,952 | 141,829 | |||
Liabilities and Equity | $ 42,682 | $ 20,502 | $ 6,601 | $ 29,567 | $ 1,312 | $ 8,761 | $ 20,502 | $ 1,312 | $ 42,682 | $ 29,567 | $ 27,265 |
Unaudited Quarterly Financial_3
Unaudited Quarterly Financial Data - Unaudited Consolidated Statements of Operations and Comprehensive Loss (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||
Revenue from contract with customer, excluding assessed tax | $ 7,734,374 | $ 6,416,451 | $ 5,528,166 | $ 4,207,554 | $ 3,049,817 | $ 4,324,475 | $ 11,944,617 | $ 7,374,292 | $ 19,678,991 | $ 11,581,846 | $ 30,022,377 | $ 17,967,207 | |
Cost of revenue | 4,022,395 | 3,208,690 | 2,457,785 | 1,750,744 | 1,377,799 | 1,988,277 | 5,666,475 | 3,366,076 | 9,688,870 | 5,116,820 | 14,461,702 | 7,896,078 | |
Sales and marketing | 2,240,936 | 2,302,869 | 2,078,323 | 1,403,037 | 1,228,691 | 1,523,143 | 4,381,192 | 2,751,834 | 6,622,128 | 4,154,871 | 8,795,038 | 5,999,671 | |
General and administrative | 2,670,785 | 2,659,578 | 2,535,147 | 1,827,267 | 1,920,492 | 2,417,838 | 5,194,725 | 4,338,330 | 7,865,510 | 6,165,597 | 11,034,246 | 8,611,423 | |
Impairment of goodwill | $ 0 | 4,300,000 | 4,300,000 | 4,300,000 | 0 | 4,300,000 | |||||||
Depreciation and amortization | 220,453 | 363,924 | 365,529 | 372,483 | 377,107 | 501,269 | 729,453 | 878,376 | 949,906 | 1,250,859 | 1,089,118 | 1,652,126 | |
Total costs and expenses | 9,154,569 | 8,535,061 | 7,436,784 | 5,353,531 | 4,904,089 | 10,730,527 | 15,971,845 | 15,634,616 | 25,126,414 | 20,988,147 | 35,380,104 | 28,459,298 | |
Loss from operations | (1,420,195) | (2,118,610) | (1,908,618) | (1,145,977) | (1,854,272) | (6,406,052) | (4,027,228) | (8,260,324) | (5,447,423) | (9,406,301) | (5,357,727) | (10,492,091) | |
Interest Expense | (1,558) | (8,739) | (13,793) | (16,448) | (19,476) | (6,618) | (22,532) | (26,094) | (24,090) | (42,542) | (25,320) | (63,012) | |
Other income, net | 20,961 | 1,968,944 | 29,474 | 30,085 | 33,834 | (37,744) | 1,998,418 | (3,910) | 2,019,379 | 26,175 | 2,242,426 | 46,708 | |
Nonoperating Income (Expense) | 19,403 | 1,960,205 | 15,681 | 13,637 | 14,358 | (44,362) | 1,975,886 | (30,004) | 1,995,289 | (16,367) | 2,217,106 | (16,304) | |
Net income (loss) | $ (1,400,792) | $ (158,405) | $ (1,892,937) | $ (1,132,340) | $ (1,839,914) | $ (6,450,414) | $ (2,051,342) | $ (8,290,328) | $ (3,452,134) | $ (9,422,668) | $ (3,140,621) | $ (10,508,395) | |
Weighted average common shares outstanding – basic and diluted | 61,883,017 | 61,386,913 | 56,334,219 | 45,772,638 | 36,108,073 | 34,681,198 | 58,874,526 | 35,394,639 | 59,875,142 | 38,879,218 | 60,407,921 | 41,289,705 | |
Basic and diluted loss per common share | $ (0.02) | $ 0 | $ (0.03) | $ (0.02) | $ (0.05) | $ (0.19) | $ (0.03) | $ (0.23) | $ (0.06) | $ (0.24) | $ (0.05) | $ (0.25) | |
Previously Reported | |||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||
Revenue from contract with customer, excluding assessed tax | $ 7,607,546 | $ 6,538,739 | $ 5,375,632 | $ 4,036,120 | $ 3,135,039 | $ 4,763,668 | $ 11,914,371 | $ 7,898,707 | $ 19,521,917 | $ 11,934,827 | $ 18,329,555 | ||
Cost of revenue | 3,975,532 | 3,284,259 | 2,404,752 | 1,701,770 | 1,414,249 | 2,140,517 | 5,689,011 | 3,554,766 | 9,664,543 | 5,256,536 | 8,000,038 | ||
Sales and marketing | 2,240,936 | 2,302,869 | 2,078,323 | 1,403,037 | 1,228,691 | 1,523,143 | 4,381,192 | 2,751,834 | 6,622,128 | 4,154,871 | 5,999,671 | ||
General and administrative | 2,670,785 | 2,659,578 | 2,535,147 | 1,827,267 | 1,920,492 | 2,417,838 | 5,194,725 | 4,338,330 | 7,865,510 | 6,165,597 | 8,611,423 | ||
Impairment of goodwill | 4,300,000 | 4,300,000 | 4,300,000 | 4,300,000 | |||||||||
Depreciation and amortization | 220,453 | 363,924 | 365,529 | 372,483 | 377,107 | 501,269 | 729,453 | 878,376 | 949,906 | 1,250,859 | 1,652,126 | ||
Total costs and expenses | 9,107,706 | 8,610,630 | 7,383,751 | 5,304,557 | 4,940,539 | 10,882,767 | 15,994,381 | 15,823,306 | 25,102,087 | 21,127,863 | 28,563,258 | ||
Loss from operations | (1,500,160) | (2,071,891) | (2,008,119) | (1,268,437) | (1,805,500) | (6,119,099) | (4,080,010) | (7,924,599) | (5,580,170) | (9,193,036) | (10,233,703) | ||
Interest Expense | (1,558) | (8,739) | (13,793) | (16,448) | (6,618) | (22,532) | (26,094) | (24,090) | (42,542) | (63,012) | |||
Other income, net | 20,961 | 1,968,944 | 29,474 | 30,085 | (37,744) | 1,998,418 | (3,910) | 2,019,379 | 26,175 | 46,708 | |||
Nonoperating Income (Expense) | 19,403 | 1,960,205 | 15,681 | 13,637 | 14,358 | (44,362) | 1,975,886 | (30,004) | 1,995,289 | (16,367) | (16,304) | ||
Net income (loss) | $ (1,480,757) | $ (111,686) | $ (1,992,438) | $ (1,254,800) | $ (1,791,142) | $ (6,163,461) | $ (2,104,124) | $ (7,954,603) | $ (3,584,881) | $ (9,209,403) | $ (10,250,007) | ||
Weighted average common shares outstanding – basic and diluted | 61,883,017 | 61,386,913 | 56,334,219 | 45,772,638 | 36,108,073 | 34,681,198 | 58,874,526 | 35,394,639 | 59,875,142 | 38,879,218 | 41,289,705 | ||
Basic and diluted loss per common share | $ (0.02) | $ 0 | $ (0.04) | $ (0.03) | $ (0.05) | $ (0.18) | $ (0.04) | $ (0.22) | $ (0.06) | $ (0.24) | $ (0.25) | ||
Revision of Prior Period, Adjustment | |||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||
Revenue from contract with customer, excluding assessed tax | $ 126,828 | $ (122,288) | $ 152,534 | $ 171,434 | $ (85,222) | $ (439,193) | $ 30,246 | $ (524,415) | $ 157,074 | $ (352,981) | $ (362,348) | ||
Cost of revenue | 46,863 | (75,569) | 53,033 | 48,974 | (36,450) | (152,240) | (22,536) | (188,690) | 24,327 | (139,716) | (103,960) | ||
Sales and marketing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
General and administrative | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Impairment of goodwill | 0 | 0 | 0 | 0 | |||||||||
Depreciation and amortization | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Total costs and expenses | 46,863 | (75,569) | 53,033 | 48,974 | (36,450) | (152,240) | (22,536) | (188,690) | 24,327 | (139,716) | (103,960) | ||
Loss from operations | 79,965 | (46,719) | 99,501 | 122,460 | (48,772) | (286,953) | 52,782 | (335,725) | 132,747 | (213,265) | (258,388) | ||
Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other income, net | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Nonoperating Income (Expense) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Net income (loss) | $ 79,965 | $ (46,719) | $ 99,501 | $ 122,460 | $ (48,772) | $ (286,953) | $ 52,782 | $ (335,725) | $ 132,747 | $ (213,265) | $ (258,388) | ||
Weighted average common shares outstanding – basic and diluted | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Basic and diluted loss per common share | $ 0 | $ 0 | $ 0.01 | $ 0.01 | $ 0 | $ (0.01) | $ 0.01 | $ (0.01) | $ 0 | $ 0 | $ 0 |
Unaudited Quarterly Financial_4
Unaudited Quarterly Financial Data - Unaudited Consolidated Statements of Stockholders' Equity (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Stockholders' Equity Attributable to Parent | $ 74,290,500 | $ 75,468,244 | $ 63,539,557 | $ 30,207,987 | $ 21,044,823 | $ 7,826,321 | $ 75,468,244 | $ 21,044,823 | $ 74,290,500 | $ 30,207,987 | $ 74,825,135 | $ 31,928,189 | $ 14,100,000 | $ 14,118,240 |
Stock issuance costs | (1,094,929) | (747,379) | ||||||||||||
Net income (loss) | $ (1,400,792) | $ (158,405) | $ (1,892,937) | $ (1,132,340) | $ (1,839,914) | $ (6,450,414) | $ (2,051,342) | $ (8,290,328) | $ (3,452,134) | $ (9,422,668) | (3,140,621) | (10,508,395) | ||
Shares withheld to cover statutory taxes | (507,849) | |||||||||||||
Stock-based compensation | 878,739 | 477,993 | ||||||||||||
Stock issued for payment of services | 147,329 | 125,000 | ||||||||||||
Sale of securities | $ 46,544,688 | $ 28,455,096 | ||||||||||||
Common Stock [Member] | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Shares, Issued | 61,903,631 | 61,809,573 | 59,123,449 | 48,331,379 | 41,784,601 | 34,773,051 | 61,809,573 | 41,784,601 | 61,903,631 | 48,331,379 | 62,044,883 | 50,050,167 | 34,634,172 | |
Stockholders' Equity Attributable to Parent | $ 6,190 | $ 6,181 | $ 5,912 | $ 4,833 | $ 4,178 | $ 3,477 | $ 6,181 | $ 4,178 | $ 6,190 | $ 4,833 | $ 6,205 | $ 5,005 | $ 3,464 | |
Shares withheld to cover statutory taxes | (24) | |||||||||||||
Stock-based compensation | 83 | 19 | ||||||||||||
Stock issued for payment of services | 3 | 39 | ||||||||||||
Sale of securities | $ 1,119 | $ 1,482 | ||||||||||||
Stock issued for payment of services, net (shares) | 30,324 | 390,625 | ||||||||||||
Stock-based compensation (shares) | 827,530 | 190,057 | ||||||||||||
Share withheld to cover statutory taxes (shares) | (240,057) | |||||||||||||
Additional Paid-in Capital [Member] | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Stockholders' Equity Attributable to Parent | 148,229,391 | 148,006,352 | 135,919,529 | 99,610,374 | 89,315,525 | 74,257,810 | 148,006,352 | 89,315,525 | 148,229,391 | 99,610,374 | $ 148,452,498 | $ 102,416,131 | 74,099,328 | |
Stock issuance costs | (1,094,929) | (747,379) | ||||||||||||
Shares withheld to cover statutory taxes | (507,825) | |||||||||||||
Stock-based compensation | 878,656 | 477,974 | ||||||||||||
Stock issued for payment of services | 147,326 | 124,961 | ||||||||||||
Sale of securities | 46,543,569 | 28,453,614 | ||||||||||||
Accumulated Deficit [Member] | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Stockholders' Equity Attributable to Parent | (73,945,081) | (72,544,289) | (72,385,884) | (69,407,220) | (68,274,880) | (66,434,966) | (72,544,289) | (68,274,880) | (73,945,081) | (69,407,220) | (73,633,568) | (70,492,947) | (59,984,552) | |
Net income (loss) | $ (3,140,621) | (10,508,395) | ||||||||||||
Previously Reported | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Stockholders' Equity Attributable to Parent | 74,015,924 | 75,273,633 | 63,298,227 | 30,021,035 | 20,980,331 | 7,713,057 | 75,273,633 | 20,980,331 | 74,015,924 | 30,021,035 | 31,786,360 | $ 13,700,000 | ||
Stock issuance costs | (14,094) | (333,878) | (746,957) | (222,754) | (455,706) | (2,326) | (1,080,835) | (458,032) | (1,094,929) | (680,786) | (747,379) | |||
Net income (loss) | (1,480,757) | (111,686) | (1,992,438) | (1,254,800) | (1,791,142) | (6,163,461) | (2,104,124) | (7,954,603) | (3,584,881) | (9,209,403) | (10,250,007) | |||
Revision adjustment | 79,965 | (46,719) | 99,501 | 122,460 | (48,772) | (286,953) | (335,725) | 132,747 | (213,265) | (258,388) | ||||
Shares withheld to cover statutory taxes | (40,682) | (55,386) | (341,576) | (396,962) | (437,644) | |||||||||
Stock-based compensation | 229,039 | 206,194 | 197,986 | 108,568 | 118,707 | 129,571 | 404,180 | 248,278 | 633,219 | 356,846 | ||||
Stock issued for payment of services | 37,544 | 37,544 | 34,696 | 31,250 | 31,249 | 31,250 | 72,240 | 62,499 | 109,784 | 93,749 | 125,000 | |||
Sale of securities | 12,186,676 | 34,358,012 | 10,378,440 | 15,361,853 | 46,544,688 | 15,361,853 | 46,544,688 | 25,740,293 | ||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 11,241 | $ 45,942 | 2,144 | 0 | 2,313 | $ 48,086 | 2,313 | 59,327 | 2,313 | $ 7,634 | ||||
Previously Reported | Common Stock [Member] | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Shares, Issued | 61,809,573 | 61,809,573 | 50,050,167 | |||||||||||
Stockholders' Equity Attributable to Parent | $ 6,181 | $ 6,181 | $ 5,005 | |||||||||||
Stock Issued During Period, Shares, Sale of Securities | 2,484,393 | 8,701,691 | 6,401,931 | 6,856,241 | 11,186,084 | 6,856,241 | 11,186,084 | 13,258,172 | 14,819,740 | |||||
Shares withheld to cover statutory taxes | (2) | (2) | (16) | (18) | (20) | |||||||||
Stock-based compensation | 8 | 8 | 52 | 4 | 6 | 3 | 60 | 9 | 68 | 13 | ||||
Stock issued for payment of services | $ 1 | 0 | 1 | 10 | 9 | $ 10 | 1 | 19 | 2 | 29 | 39 | |||
Sale of securities | $ 249 | $ 870 | $ 641 | $ 685 | $ 1,119 | $ 685 | $ 1,119 | $ 1,326 | ||||||
Stock Issued During Period, Shares, Employee Stock Ownership Plan | 27,995 | 135,141 | 1,510 | 0 | 10,034 | 136,651 | 10,034 | 164,646 | 10,034 | |||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | $ 2 | $ 14 | $ 0 | $ 0 | $ 1 | $ 14 | $ 1 | $ 16 | $ 1 | $ 1 | ||||
Stock issued for payment of services, net (shares) | 7,716 | 7,716 | 7,176 | 97,655 | 97,655 | 97,655 | 14,892 | 195,310 | 22,608 | 292,965 | 390,625 | |||
Stock-based compensation (shares) | 76,745 | 77,420 | 526,903 | 47,192 | 47,620 | 41,224 | 604,323 | 88,844 | 681,068 | 136,036 | ||||
Share withheld to cover statutory taxes (shares) | (18,398) | (18,546) | (163,998) | (182,544) | (200,942) | |||||||||
Previously Reported | Additional Paid-in Capital [Member] | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Stockholders' Equity Attributable to Parent | $ 148,006,352 | $ 148,006,352 | $ 102,416,131 | |||||||||||
Stock issuance costs | $ (14,094) | (333,878) | $ (746,957) | $ (222,754) | $ (455,706) | $ (2,326) | (1,080,835) | $ (458,032) | $ (1,094,929) | $ (680,786) | (747,379) | |||
Shares withheld to cover statutory taxes | (40,680) | (55,384) | (341,560) | (396,944) | (437,624) | |||||||||
Stock-based compensation | 229,031 | 206,186 | 197,934 | 108,564 | 118,701 | 129,568 | 404,120 | 248,269 | 633,151 | 356,833 | ||||
Stock issued for payment of services | 37,543 | 37,544 | 34,695 | 31,240 | 31,240 | 31,240 | 72,239 | 62,480 | 109,782 | 93,720 | 124,961 | |||
Sale of securities | 12,186,427 | 34,357,142 | 10,377,799 | 15,361,168 | 46,543,569 | 15,361,168 | 46,543,569 | 25,738,967 | ||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 11,239 | 45,928 | 2,144 | 0 | 2,312 | 48,072 | 2,312 | 59,311 | 2,312 | 7,633 | ||||
Previously Reported | Accumulated Deficit [Member] | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Stockholders' Equity Attributable to Parent | (72,738,900) | (72,627,214) | (68,339,372) | (66,548,230) | (72,738,900) | (68,339,372) | ||||||||
Net income (loss) | (1,480,757) | (111,686) | (1,992,438) | (1,254,800) | (1,791,142) | (6,163,461) | (2,104,124) | (7,954,603) | (3,584,881) | (9,209,403) | (10,250,007) | |||
Revision adjustment | 79,965 | (46,719) | 99,501 | 122,460 | (48,772) | (286,953) | (335,725) | 132,747 | (213,265) | (258,388) | ||||
Revision of Prior Period, Adjustment | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Stockholders' Equity Attributable to Parent | 274,576 | 194,611 | 241,330 | 186,952 | 64,492 | 113,264 | 194,611 | 64,492 | 274,576 | 186,952 | 141,829 | |||
Net income (loss) | $ 79,965 | (46,719) | 99,501 | $ 122,460 | $ (48,772) | (286,953) | 52,782 | (335,725) | $ 132,747 | $ (213,265) | $ (258,388) | |||
Revision adjustment | (194,611) | 241,330 | 113,264 | 52,782 | 64,492 | |||||||||
Revision of Prior Period, Adjustment | Accumulated Deficit [Member] | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Revision adjustment | $ (194,611) | $ 241,330 | $ 113,264 | $ 52,782 | $ 64,492 |
Unaudited Quarterly Financial_5
Unaudited Quarterly Financial Data - Unaudited Consolidated Statements of Cash Flows (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Net income (loss) | $ (1,400,792) | $ (158,405) | $ (1,892,937) | $ (1,132,340) | $ (1,839,914) | $ (6,450,414) | $ (2,051,342) | $ (8,290,328) | $ (3,452,134) | $ (9,422,668) | $ (3,140,621) | $ (10,508,395) | ||
(Gain) on the forgiveness of debt | (1,927,220) | (1,927,220) | 1,927,220 | 0 | ||||||||||
Depreciation and amortization | 32,486 | 35,629 | 65,687 | 70,207 | 98,759 | 102,495 | 130,478 | 135,077 | ||||||
Amortization of software development costs and other intangible assets | 333,043 | 663,766 | 808,169 | 851,147 | 1,148,364 | 958,640 | 1,517,049 | |||||||
Stock-based compensation | 197,986 | 31,250 | 404,180 | 633,219 | 356,846 | |||||||||
Fair value of stock issued for payment of services | 34,696 | 72,240 | 62,499 | 109,784 | 93,749 | 147,329 | 125,000 | |||||||
Impairment of goodwill | $ 0 | 4,300,000 | 4,300,000 | 4,300,000 | 0 | 4,300,000 | ||||||||
(Gain) on disposal of equipment | (7,914) | 7,790 | 23,706 | 21,522 | (22,423) | (22,022) | (22,598) | |||||||
Provision for losses on accounts receivable | 1,135,265 | 33,305 | 107,315 | 108,381 | 11,250 | 154,576 | ||||||||
Increase (Decrease) in Prepaid Expense and Other Assets | 134,322 | 12,385 | 788,813 | (43,773) | 1,429,405 | 98,095 | 2,090,798 | (155,866) | ||||||
Security deposits | 619 | 111,421 | 151,803 | 0 | 151,803 | |||||||||
Accounts payable | (287,213) | (1,194,762) | (403,584) | (1,349,275) | (613,330) | (897,006) | (224,083) | (329,041) | ||||||
Accrued expenses | (245,077) | 215,375 | 193,795 | (101,561) | 516,238 | (121,665) | 597,127 | 543,768 | ||||||
Contract liabilities | 4,280 | (512,067) | 1,563,121 | (180,277) | 3,468,207 | 770,994 | 4,703,225 | 944,289 | ||||||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 24,024 | |||||||||||||
Net cash used for operating activities | (829,707) | (1,348,372) | (3,141,704) | (1,820,738) | (3,652,080) | (1,997,995) | (2,566,999) | (2,095,651) | ||||||
Purchase of equipment | 22,109 | 29,689 | 3,287 | 33,912 | 17,290 | 63,046 | 19,797 | |||||||
Proceeds from sale of equipment | 8,892 | 8,924 | 27,487 | 29,824 | 29,007 | 30,324 | 29,183 | |||||||
Software development costs | (51,004) | (266,035) | ||||||||||||
Net cash used for investing activities | (13,217) | (51,004) | (20,765) | (72,929) | (4,088) | (254,318) | (26,169) | (354,407) | ||||||
Proceeds from Lines of Credit | 1,162,924 | |||||||||||||
Proceeds from sale of securities | 34,358,012 | 46,544,688 | 15,361,853 | 46,544,688 | 25,740,293 | 46,544,688 | 28,455,096 | |||||||
Proceeds from stock purchase plan and option exercise issuances | (2,144) | |||||||||||||
Payments of Financing Costs | 8,336 | 7,857 | 11,410 | 8,642 | 11,410 | 30,261 | ||||||||
Stock issuance costs | 746,957 | 2,326 | 1,080,835 | 458,032 | 1,094,929 | 680,786 | 1,094,929 | 747,379 | ||||||
Payments on shares withheld for statutory taxes | 341,576 | 396,962 | 437,644 | 507,849 | 0 | |||||||||
Net cash provided by financing activities | 33,263,287 | 1,149,188 | 45,107,120 | 16,829,311 | 45,062,800 | 26,985,605 | 44,981,238 | 29,610,654 | ||||||
Net increase in cash and cash equivalents | 32,420,363 | (250,188) | 41,944,651 | 14,935,644 | 41,406,632 | 24,733,292 | 42,388,070 | 27,160,596 | ||||||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 75,433,295 | 74,451,857 | 74,989,876 | 65,465,588 | 30,617,921 | 20,820,273 | 5,634,441 | 74,989,876 | 20,820,273 | 74,451,857 | 30,617,921 | 75,433,295 | 33,045,225 | $ 5,884,629 |
Interest paid | 4,792 | 1,368 | 5,610 | 36,594 | 5,610 | 39,834 | 9,968 | 47,290 | ||||||
Noncash or Part Noncash Acquisition, Fixed Assets Acquired | 43,003 | 43,003 | 43,003 | |||||||||||
Fair value of common stock issued for future services | 147,329 | 125,000 | 147,329 | 125,000 | 147,329 | 125,000 | ||||||||
PPP loan forgiveness | 1,927,220 | 1,927,220 | 1,927,220 | 0 | ||||||||||
Increase (Decrease) in Accounts Receivable | (1,585,843) | (925,744) | 2,436,269 | (1,885,823) | (1,507,206) | 2,403,148 | (234,938) | |||||||
Proceeds from stock purchase plan and option exercise issuances | 48,086 | 2,313 | 59,327 | 2,313 | 69,589 | 7,634 | ||||||||
Proceeds from notes payable | 1,934,587 | 1,935,195 | 0 | 1,936,522 | ||||||||||
Depreciation and amortization | 220,453 | 363,924 | 365,529 | 372,483 | 377,107 | 501,269 | 729,453 | 878,376 | 949,906 | 1,250,859 | 1,089,118 | 1,652,126 | ||
Capitalized computer software, amortization | 465,640 | |||||||||||||
Share-based Payment Arrangement, Expense | 129,571 | 248,278 | 878,739 | 477,993 | ||||||||||
Right-of-use asset and lease liability, net | 24,024 | 0 | 24,024 | 0 | 24,024 | |||||||||
Repayments of Notes Payable | (11,410) | (41,219) | ||||||||||||
Software development costs | (97,129) | $ 0 | (363,793) | |||||||||||
Previously Reported | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Net income (loss) | (1,480,757) | (111,686) | (1,992,438) | (1,254,800) | (1,791,142) | (6,163,461) | (2,104,124) | (7,954,603) | (3,584,881) | (9,209,403) | (10,250,007) | |||
(Gain) on the forgiveness of debt | (1,927,220) | (1,927,220) | ||||||||||||
Depreciation and amortization | 32,486 | 35,629 | 65,687 | 70,207 | 98,759 | 102,495 | 135,077 | |||||||
Amortization of software development costs and other intangible assets | 333,043 | 663,766 | 808,169 | 851,147 | 1,148,364 | 1,517,049 | ||||||||
Stock-based compensation | 197,986 | 31,250 | 404,180 | 633,219 | 356,846 | 477,993 | ||||||||
Fair value of stock issued for payment of services | 34,696 | 72,240 | 62,499 | 109,784 | 93,749 | 125,000 | ||||||||
Impairment of goodwill | 4,300,000 | 4,300,000 | 4,300,000 | 4,300,000 | ||||||||||
(Gain) on disposal of equipment | (7,914) | 7,790 | 23,706 | 21,522 | (22,423) | (22,598) | ||||||||
Provision for losses on accounts receivable | 1,135,265 | 33,305 | 107,315 | 108,381 | 154,576 | |||||||||
Increase (Decrease) in Prepaid Expense and Other Assets | 154,986 | 15,135 | 795,576 | (53,972) | 1,413,987 | 80,038 | (171,620) | |||||||
Security deposits | 619 | 111,421 | 151,803 | 151,803 | ||||||||||
Accounts payable | (204,624) | (1,121,745) | (255,419) | (1,229,576) | (507,598) | (919,255) | (372,392) | |||||||
Accrued expenses | (245,077) | 215,375 | 193,795 | (101,561) | 516,238 | (121,665) | 543,768 | |||||||
Contract liabilities | 41,856 | (869,287) | 1,474,501 | (625,502) | 3,479,804 | 561,921 | 713,498 | |||||||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 24,024 | |||||||||||||
Net cash used for operating activities | (829,707) | (1,348,372) | (3,141,704) | (1,820,738) | (3,652,080) | (1,997,995) | (2,095,651) | |||||||
Purchase of equipment | 22,109 | 29,689 | 3,287 | 33,912 | 17,290 | 19,797 | ||||||||
Proceeds from sale of equipment | 8,892 | 8,924 | 27,487 | 29,824 | 29,007 | 29,183 | ||||||||
Software development costs | (51,004) | (266,035) | ||||||||||||
Net cash used for investing activities | (13,217) | (51,004) | (20,765) | (72,929) | (4,088) | (254,318) | (354,407) | |||||||
Proceeds from Lines of Credit | 1,162,924 | |||||||||||||
Proceeds from sale of securities | 34,358,012 | 46,544,688 | 15,361,853 | 46,544,688 | 25,740,293 | 28,455,096 | ||||||||
Proceeds from stock purchase plan and option exercise issuances | (2,144) | |||||||||||||
Payments of Financing Costs | 8,336 | 7,857 | 11,410 | 8,642 | 11,410 | |||||||||
Stock issuance costs | 746,957 | 2,326 | 1,080,835 | 458,032 | 1,094,929 | 680,786 | 747,379 | |||||||
Payments on shares withheld for statutory taxes | 341,576 | 396,962 | 437,644 | |||||||||||
Net cash provided by financing activities | 33,263,287 | 1,149,188 | 45,107,120 | 16,829,311 | 45,062,800 | 26,985,605 | 29,610,654 | |||||||
Net increase in cash and cash equivalents | 32,420,363 | (250,188) | 41,944,651 | 14,935,644 | 41,406,632 | 24,733,292 | ||||||||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 74,451,857 | 74,989,876 | 65,465,588 | 30,617,921 | 20,820,273 | 5,634,441 | 74,989,876 | 20,820,273 | 74,451,857 | 30,617,921 | 33,045,225 | 5,884,629 | ||
Interest paid | 4,792 | 1,368 | 5,610 | 36,594 | 5,610 | 39,834 | 47,290 | |||||||
Noncash or Part Noncash Acquisition, Fixed Assets Acquired | 43,003 | 43,003 | 43,003 | |||||||||||
Fair value of common stock issued for future services | 147,329 | 125,000 | 147,329 | 125,000 | 147,329 | 125,000 | ||||||||
PPP loan forgiveness | 1,927,220 | 1,927,220 | ||||||||||||
Increase (Decrease) in Accounts Receivable | (1,585,843) | (925,744) | 2,436,269 | (1,885,823) | (1,507,206) | (234,938) | ||||||||
Proceeds from stock purchase plan and option exercise issuances | 48,086 | 2,313 | 59,327 | 2,313 | 7,634 | |||||||||
Proceeds from notes payable | 1,934,587 | 1,935,195 | 1,936,522 | |||||||||||
Depreciation and amortization | 220,453 | 363,924 | 365,529 | 372,483 | 377,107 | 501,269 | 729,453 | 878,376 | 949,906 | 1,250,859 | 1,652,126 | |||
Capitalized computer software, amortization | 465,640 | |||||||||||||
Share-based Payment Arrangement, Expense | 129,571 | 248,278 | ||||||||||||
Right-of-use asset and lease liability, net | 24,024 | 0 | 24,024 | 24,024 | ||||||||||
Repayments of Notes Payable | (11,410) | (41,219) | ||||||||||||
Software development costs | (97,129) | (363,793) | ||||||||||||
Revision of Prior Period, Adjustment | ||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||||||||||
Net income (loss) | 79,965 | (46,719) | 99,501 | 122,460 | (48,772) | (286,953) | 52,782 | (335,725) | 132,747 | (213,265) | (258,388) | |||
(Gain) on the forgiveness of debt | 0 | 0 | ||||||||||||
Depreciation and amortization | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Amortization of software development costs and other intangible assets | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Stock-based compensation | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Fair value of stock issued for payment of services | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Impairment of goodwill | 0 | 0 | 0 | 0 | ||||||||||
(Gain) on disposal of equipment | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Provision for losses on accounts receivable | 0 | 0 | 0 | 0 | 0 | |||||||||
Increase (Decrease) in Prepaid Expense and Other Assets | (20,664) | (2,750) | (6,763) | 10,199 | 15,418 | 18,057 | 15,754 | |||||||
Security deposits | 0 | 0 | 0 | |||||||||||
Accounts payable | (82,589) | (73,017) | (148,165) | (119,699) | (105,732) | 22,249 | 43,351 | |||||||
Accrued expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Contract liabilities | (37,576) | 357,220 | 88,620 | 445,225 | (11,597) | 209,073 | 230,791 | |||||||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 0 | |||||||||||||
Net cash used for operating activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Purchase of equipment | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Proceeds from sale of equipment | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Software development costs | 0 | 0 | ||||||||||||
Net cash used for investing activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Proceeds from Lines of Credit | 0 | |||||||||||||
Proceeds from sale of securities | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Proceeds from stock purchase plan and option exercise issuances | 0 | |||||||||||||
Payments of Financing Costs | 0 | 0 | 0 | 0 | 0 | |||||||||
Stock issuance costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Payments on shares withheld for statutory taxes | 0 | 0 | 0 | |||||||||||
Net cash provided by financing activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Net increase in cash and cash equivalents | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $ 0 | ||
Interest paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Noncash or Part Noncash Acquisition, Fixed Assets Acquired | 0 | 0 | 0 | |||||||||||
Fair value of common stock issued for future services | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
PPP loan forgiveness | 0 | 0 | ||||||||||||
Increase (Decrease) in Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Proceeds from stock purchase plan and option exercise issuances | 0 | 0 | 0 | 0 | 0 | |||||||||
Proceeds from notes payable | 0 | 0 | 0 | |||||||||||
Depreciation and amortization | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | 0 | 0 | 0 | $ 0 | $ 0 | 0 | |||
Capitalized computer software, amortization | 0 | |||||||||||||
Share-based Payment Arrangement, Expense | 0 | 0 | ||||||||||||
Right-of-use asset and lease liability, net | 0 | $ 0 | 0 | 0 | ||||||||||
Repayments of Notes Payable | $ 0 | 0 | ||||||||||||
Software development costs | $ 0 | $ 0 |