Inuvo (INUV) 10-K 9 Mar 23 2022 FY Annual report Financial data

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	EisnerAmper, LLP
Auditor Location	Iselin, NJ
Auditor Firm ID	274

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Mar. 03, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-32442
Entity Registrant Name	INUVO, INC.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	87-0450450
Entity Address, Address Line One	500 President Clinton Ave.
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Little Rock
Entity Address, State or Province	AR
Entity Address, Postal Zip Code	72201
City Area Code	501
Local Phone Number	205-8508
Title of 12(b) Security	Common Stock
Trading Symbol	INUV
Security Exchange Name	NYSEAMER
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 54.3
Entity Common Stock, Shares Outstanding (in shares)		121,412,107
Documents Incorporated by Reference	List hereunder the following documents if incorporated by reference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and (3) Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980). The information required by Part III of this Annual Report, to the extent not set forth herein, is incorporated herein by reference from the registrant’s definitive proxy statement relating to the Annual Meeting of Shareholders to be held in 2023, which definitive proxy statement shall be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Annual Report relates.
Entity Central Index Key	0000829323
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 2,931,415	$ 10,475,964
Marketable securities - short term	1,529,464	1,927,979
Accounts receivable, net of allowance for doubtful accounts of $1,440,678 and $202,904, respectively	11,119,892	9,265,813
Prepaid expenses and other current assets	798,977	1,408,186
Total current assets	16,379,748	23,077,942
Property and equipment, net	1,668,972	1,506,766
Other assets
Right of use assets - operating lease	310,162	641,306
Right of use assets - finance lease	168,750	201,902
Referral and support services agreement advance	800,000	1,100,000
Marketable securities - long term	660,126	859,512
Intangible assets, net of accumulated amortization	5,649,291	6,720,585
Goodwill	9,853,342	9,853,342
Other assets	66,919	35,720
Total other assets	17,508,590	19,412,366
Total assets	35,557,310	43,997,074
Current liabilities
Accounts payable	8,044,802	4,844,716
Accrued expenses and other current liabilities	5,162,458	5,374,391
Lease liability - operating lease	287,523	340,478
Lease liability - finance lease	101,003	102,954
Total current liabilities	13,595,786	10,662,539
Long-term liabilities
Deferred tax liability	107,000	107,000
Lease liability - operating lease	23,878	300,827
Lease liability - finance lease	70,597	105,411
Other long-term liabilities	10,733	13,302
Total long-term liabilities	212,208	526,540
Stockholders’ equity
Preferred stock, $0.001 par value: Authorized shares - 500,000 - none issued and outstanding	0	0
Common stock, $0.001 par value: Authorized shares 200,000,000; issued and outstanding shares 120,137,124 and 118,747,447 respectively;	120,138	118,748
Additional paid-in capital	178,771,604	176,586,529
Accumulated other comprehensive income	(84,868)	53,737
Accumulated deficit	(157,057,558)	(143,951,019)
Total stockholders' equity	21,749,316	32,807,995
Total liabilities and stockholders' equity	$ 35,557,310	$ 43,997,074

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Assets
Allowance for doubtful accounts	$ 1,440,678	$ 202,904
Stockholders Equity
Preferred stock par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock shares authorized (in shares)	500,000	500,000
Preferred stock shares issued (in shares)	0	0
Preferred stock shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock shares authorized (in shares)	200,000,000	200,000,000
Common stock shares issued (in shares)	120,137,124	120,137,124
Common stock shares outstanding (in shares)	118,747,447	118,747,447

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net revenue	$ 75,603,745	$ 59,830,688
Cost of revenue	30,244,387	15,925,837
Gross profit	45,359,358	43,904,851
Operating expenses:
Marketing costs	36,921,139	33,096,000
Compensation	12,463,095	11,381,279
General and administrative	8,624,998	7,198,213
Total operating expenses	58,009,232	51,675,492
Operating loss	(12,649,874)	(7,770,641)
Financing, other	(21,111)	(86,983)
Other (expense)/income, net	(435,554)	256,975
Net loss	(13,106,539)	(7,600,649)
Other comprehensive income
Unrealized (loss)/gain on marketable securities	(138,605)	53,737
Comprehensive loss	$ (13,245,144)	$ (7,546,912)
Per common share data:
Net loss, basic (in usd per share)	$ (0.11)	$ (0.06)
Net loss, diluted (in usd per share)	$ (0.11)	$ (0.06)
Weighted average shares:
Basic (in shares)	119,826,036	117,613,845
Diluted (in shares)	119,826,036	117,613,845

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock	Additional Paid in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income
Beginning balance (in shares) at Dec. 31, 2020		98,035,829
Beginning balance at Dec. 31, 2020	$ 25,289,114	$ 98,036	$ 161,541,448	$ (136,350,370)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(7,600,649)			(7,600,649)
Unrealized gain (loss) on debt securities	53,737				53,737
Stock-based compensation	2,179,254		2,179,254
Proceeds from exercise of options	1,569		1,569
Stock issued for vested restricted stock awards (in shares)		1,696,467
Stock issued for vested restricted stock awards	0	$ 1,696	(1,696)
Sale of common stock, net of issuance cost (in shares)		19,015,151
Sale of common stock, net of issuance cost	13,137,500	$ 19,016	13,118,484
Shares withheld for taxes on vested restricted stock	(272,049)		(272,049)
Stock warrants issued for referral agreement	$ 19,519		19,519
Ending balance (in shares) at Dec. 31, 2021	118,747,447	118,747,447
Ending balance at Dec. 31, 2021	$ 32,807,995	$ 118,748	176,586,529	(143,951,019)	53,737
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(13,106,539)			(13,106,539)
Unrealized gain (loss) on debt securities	(138,605)				(138,605)
Stock-based compensation	2,350,314		2,350,314
Stock issued for vested restricted stock awards (in shares)		1,389,677
Stock issued for vested restricted stock awards	0	$ 1,390	(1,390)
Shares withheld for taxes on vested restricted stock	(196,892)		(196,892)
Stock warrants issued for referral agreement	$ 33,043		33,043
Ending balance (in shares) at Dec. 31, 2022	118,747,447	120,137,124
Ending balance at Dec. 31, 2022	$ 21,749,316	$ 120,138	$ 178,771,604	$ (157,057,558)	$ (84,868)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating activities:
Net loss	$ (13,106,539)	$ (7,600,649)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,598,957	3,143,168
Amortization of Right of Use Assets-Finance Leases	103,926	322,746
Stock based compensation	2,350,314	2,179,254
Loss on marketable securities	435,554	266,762
Amortization of financing fees	2,500	12,500
Provision for doubtful accounts	1,265,143	7,487
Stock warrant expense	33,043	0
Derecognition of contingencies	(10,000)	(110,000)
Third party rights agreement termination	0	(420,000)
Change in operating assets and liabilities:
Accounts receivable	(3,119,222)	(3,045,690)
Referral and support services agreement advance	300,000	(1,100,000)
Prepaid expenses, unbilled revenue and other assets	578,009	(992,978)
Accounts payable	3,200,086	796,456
Accrued expenses and other liabilities	(205,762)	1,264,687
Net cash used in operating activities	(5,573,991)	(5,276,257)
Investing activities:
Purchases of equipment and capitalized development costs	(1,689,869)	(1,597,369)
Purchase of marketable securities	(1,693,963)	(3,143,000)
Proceeds from the sale of marketable securities	1,717,707	142,484
Net cash used in investing activities	(1,666,125)	(4,597,885)
Financing activities:
Proceeds from sale of common stock, net of expenses	0	13,137,500
Payments on finance/capital leases	(107,539)	(257,679)
Net taxes paid on RSU grants exercised	(196,894)	(272,049)
Proceeds from exercise of options	0	1,569
SBA loan repayment	0	(149,900)
Net cash (used in)/provided by financing activities	(304,433)	12,459,441
Net change – cash	(7,544,549)	2,585,299
Cash, beginning of year	10,475,964	7,890,665
Cash, end of year	2,931,415	10,475,964
Supplemental information:
Interest paid	18,612	55,476
Assets purchased under finance lease obligations	$ 70,774	125,825
Assets purchased under operating lease obligations		$ 344,311

Organization and Business

Organization and Business	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	Organization and Business Company Overview Inuvo is a technology company that develops and sells information technology solutions for marketing and advertising. These solutions predictively identify and message online audiences for any product, service or brand across devices, formats, and channels including video, mobile, connected TV, linear TV, display, social, search and native. These solutions allow Inuvo’s clients to engage with their audiences in a manner that drives responsiveness. Inuvo facilitates the delivery of hundreds of millions of marketing messages to consumers every single month and counts among its clients numerous world-renowned names across industries. The Inuvo solution incorporates a proprietary form of artificial intelligence, or AI, branded the IntentKey. This patented machine learning technology uses interactions with Internet content as a source of information from which to predict consumer intent. The AI can identify and advertise to the reasons why consumers are purchasing products and services not to who those consumers are. In this regard, the technology is designed for a privacy conscious future and is focused on the components of the advertising value chain most responsible for return on advertising spend, the intelligence behind the advertising decision. Inuvo technology can be consumed both as a managed service and software-as-a-service. For clients, Inuvo has also developed a collection of proprietary websites collectively branded as Bonfire Publishing where content is created specifically to attract qualified consumer traffic for clients through the publication of information across a wide range of topics including health, finance, travel, careers, auto, education and lifestyle. These sites also provide the means to market test various Inuvo advertising technologies. Further, Inuvo also provides Search and Social advertising services through a proprietary set of technologies branded as CampSight. There are many barriers to entry associated with the Inuvo business model, including a proficiency in large scale information processing, predictive software development, marketing data products, analytics, artificial intelligence, integration to the internet of things ("IOT"), and the relationships required to execute within the IOT. Inuvo’s intellectual property is protected by 19 issued and eight pending patents. Liquidity Our principal sources of liquidity are the sale of our common stock and our credit facility with Hitachi described in Note 7 to our Consolidated Financial Statements. On January 19, 2021, we raised $8 million in gross proceeds, before expenses, through the sale of our common stock, and on January 22, 2021, we raised an additional $6.25 million in gross proceeds, before expenses, through sales of our common stock. In March 2021, we contracted with an investment management company to manage our cash in excess of current operating needs. We placed $2 million in cash equivalent accounts and $10 million in an interest-bearing account. At December 31, 2022, our funds with the investment management company were approximately $2 million and were invested in cash equivalent accounts and marketable debt and equity securities. A detail of the activity is described in Note 3 to our Consolidated Financial Statements. On May 28, 2021, we entered into a Sales Agreement (the "Sales Agreement") with A.G.P./Alliance Global Partners, as sales agent (the "Sales Agent"), pursuant to which we may offer and sell through or to the Sales Agent shares of our common stock (the "ATM Program") up to an aggregate amount of gross proceeds of $35,000,000. During the year ended December 31, 2022, we did not issue any shares of common stock or receive any aggregate proceeds from the ATM Program, and we did not pay any commissions to the Sales Agent. Any shares of common stock offered and sold in the ATM Program will be issued pursuant to our universal shelf registration statement on Form S-3 (the “Shelf Registration Statement”). The ATM Program will terminate upon (a) the election of the Sales Agent upon the occurrence of certain adverse events, (b) 10 days’ advance notice from one party to the other, or (c) the sale of the balance available under our Shelf Registration Statement. Under the terms of the Sales Agreement, the Sales Agent is entitled to a commission at a fixed rate of 3.0% of the gross proceeds from each sale of shares under the Sales Agreement. We have focused our resources behind a plan to grow our AI technology, the IntentKey, where we have a technological advantage and higher margins. If we are successful in implementing our plan, we expect to return to a positive cash flow from operations. However, there is no assurance that we will be able to achieve this objective. As of December 31, 2022, we have approximately $4.5 million in cash, cash equivalents and short-term marketable securities. Our net working capital was $2.8 million. We have encountered recurring losses and cash outflows from operations, which historically we have funded through equity offerings and debt facilities. For the year ended December 31, 2022 we had a net loss of $13.1 million and net cash outflows from operations of $5.6 million. In addition, our investment in internally developed software consists primarily of labor costs which are of a fixed nature and amounted to approximately $1.7 million for the year ended December 31, 2022. Through December 31, 2022, our accumulated deficit was $157.1 million. Management plans to support the Company’s future operations and capital expenditures primarily through borrowings from the Hitachi credit facility, until reaching profitability. The credit facility is due upon demand and therefore there can be no assurances that sufficient borrowings will be available to support future operations until profitability is reached.We believe our current cash position and credit facility will be sufficient to sustain operations for at least the next twelve months from the date of this filing. If our plan to grow the IntentKey product is unsuccessful, we may need to fund operations through private or public sales of securities, debt financings or partnering/licensing transactions over the long term.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of presentation - The consolidated financial statements include our accounts and those of our wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Cash and cash equivalents - Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less. Investments - We have classified debt securities as available for sale securities with unrealized gains and losses recorded as other comprehensive income. Equity securities are marked to market with changes recorded as other income on the income statement. Any interest income or dividends are recorded as interest income on the income statement. Revenue recognition - We generate revenue by identifying audiences and presenting advertisements on behalf of our customers. We may contract directly with a brand, a Direct Customer or we may serve a brand through a contract with an agency, an Indirect Customer. Revenue is recognized when services are provided to a customer in an amount that reflects the consideration the Company expects to receive in exchange for those services. We charge our customers on a cents per thousand (CPM) basis, CPC basis, or as a specific dollar charge. Revenue billed as CPM is generally programmatic digital advertising and is performed under a contract known as an Insertion Order (“IO”). Programmatic digital advertising revenue is recognized in part or fully in the period the IO is partially or fully executed. Revenue earned from placing an ad or an impression on websites, some of which we own, may be on a CPM or CPC basis. We recognize revenue from ad placement and serving impressions in the period in which they occur. The Company settles ad placement and CPC transactions with its customers net of any adjustments for poor traffic quality. Payments to advertising exchanges that provide access to digital inventory and to a lesser extent, payments to website publishers and app developers that host advertisements we serve are recognized as cost of revenue. For the twelve months ended December 31, 2022 2021 Direct customers $ 36,226,223 $ 20,922,750 Indirect customers 39,248,224 38,492,280 Consulting Services and other 129,298 415,658 Total $ 75,603,745 $ 59,830,688 Accounts receivable - Accounts receivable consists of trade receivables from customers. We record accounts receivable at its net realizable value, recognizing an allowance for doubtful accounts based on our best estimate of probable credit losses on our existing accounts receivable. Balances are written off against the allowance after all means of collection have been exhausted and the possibility of recovery is considered remote. Marketing costs - Marketing costs are predominately traffic acquisition costs and include those expenses required to attract an audience to our owned and operated applications and websites. We expense these costs as incurred and present them as a separate line item in operating expenses in the consolidated statements of operations. Property and equipment - Property and equipment are stated at cost, net of accumulated depreciation and amortization. Major renewals and improvements are capitalized while maintenance and repairs which do not improve or extend the life of the respective assets are expensed as incurred. Costs of assets sold or retired and the related accumulated depreciation are eliminated from accounts and the net gain or loss is reflected as an operating expense in the consolidated statements of operations. Property and equipment are depreciated on a straight-line basis over three years for equipment, five two Capitalized Software Costs - We capitalize certain labor costs related to internally developed software and amortize these costs using the straight-line method over the estimated useful life of the software, generally two years. We do not sell internally developed software. Certain development costs not meeting the criteria for capitalization, in accordance with ASC 350-40 Internal-Use Software , are expensed as incurred. Goodwill - Goodwill is recorded as the difference, if any, between the aggregate consideration paid for an acquisition and the fair value of the net tangible and intangible assets acquired. We perform an impairment test annually as of December 31, 2022. As a result, we perform our annual goodwill impairment test by comparing the fair value of our reporting unit with its carrying amount. We generally determine the fair value of our reporting unit using the income approach methodology of valuation that includes the undiscounted cash flow method as well as other generally accepted valuation methodologies. If the carrying amount of a reporting unit exceeds the reporting unit’s fair value, the amount it exceeds fair value is equivalent to the amount of impairment loss. We determined there was no impairment of goodwill during 2022 and 2021. See Note 6, Intangible Assets and Goodwill, for more information. Intangible Assets - We allocate a portion of the purchase price of acquisitions to identifiable intangible assets and we amortize definite-lived assets over their estimated useful lives. We consider our indefinite-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Trade names are not amortized as they are believed to have an indefinite life. Trade names are reviewed annually for impairment under ASC 350. We also acquire intangible assets outside of acquisitions and record them at their fair value and amortize them over their estimated useful lives. We recorded no impairment of intangible assets during 2022 or 2021. See Note 6, Intangible Assets and Goodwill, for more information. Income taxes - We utilize the liability method of accounting for income taxes as set forth in ASC 740 , Income Taxes (“ASC 740”). Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax bases of assets and liabilities. A valuation allowance is recorded when it is more likely than not that some of the deferred tax assets will not be realized. In assessing the need for a valuation allowance, we must project future levels of taxable income. We examine evidence related to the history of taxable losses or income, the economic conditions in which we operate, organizational characteristics, our forecasts and projections, as well as factors affecting liquidity. All our deferred tax assets and liabilities are recorded as long-term assets and liabilities in the consolidated balance sheets. We believe it is more likely than not that essentially none of our deferred tax assets will be realized, and we have recorded a valuation for a significant portion of the net deferred tax assets as of December 31, 2022 and 2021. We have adopted certain provisions of ASC 740. This statement clarifies the criteria that an individual tax position must satisfy for some or all of the benefits of that position to be recognized in a company’s financial statements. ASC 740 prescribes a recognition threshold of more likely than not, and a measurement attribute for all tax positions taken or expected to be taken on a tax return, in order to be recognized in the financial statements. We recognize interest and penalties related to income taxes in income tax expense. We have incurred no penalties and interest for the years ended December 31, 2022 and 2021 Impairment of long-lived assets - In accordance with ASC 360 , Property, Plant and Equipment , long-lived assets, such as property and equipment, and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the asset is measured by comparison of the carrying amount to future undiscounted cash flows the asset is expected to generate. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the asset exceeds the fair value. Stock-based compensation - We recognize stock compensation based on the recognition provisions ASC 718 , Compensation – Stock Compensation, which establishes accounting for stock-based awards exchanged for employee and non-employee services and requires companies to expense the estimated grant date fair value of stock awards over the requisite employee service period. The fair value of restricted stock awards is based on the market price of our common stock on the date of the grant. To value stock option awards, we use the Black-Scholes-Merton option pricing model. This model involves assumptions including the expected life of the option, stock price volatility, risk-free interest rate, dividend yield and exercise price. We recognize compensation expense in earnings over the requisite service period, applying a forfeiture rate to account for expected forfeitures of awards. See Note 11, Stock-Based Compensation, for further details on our stock awards. Government Grant - During the first quarter of 2013, we received a grant from the state of Arkansas to relocate our corporate headquarters to Conway, AR. We recognized the grant funds into income as a reduction of the related expense in the period in which those expenses were recognized. We deferred grant funds related to capitalized costs and classified them as current or long-term liabilities on the balance sheet according to the classification of the associated asset. As of December 31, 2022, there were 48 employees in Arkansas, two employees under the required 50. As such, we recorded a contingent liability $10,000. As of December 31, 2021, there were 41 employees in Arkansas, two employees under the required 43. As such, we recorded a contingent liability $10,000. Earnings per share - During the periods presented, we had securities that could potentially dilute basic earnings per share in the future, but were excluded from the computation of diluted net loss per share, as their effect would have been anti-dilutive. We reported a net loss for 2022 and 2021 and therefore, shares associated with stock options, restricted stock and convertible debt are not included because they are anti-dilutive. Basic and diluted net loss per share is the same for all periods presented. Operating segments - In accordance with ASC 280 - Segment reporting , segment information reported is built on the basis of internal management data used for performance analysis of businesses and for the allocation of resources. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance. Our chief operating decision maker, our chief executive officer, reviews financial information presented on a consolidated basis and no expense or operating income is evaluated at a segment level. Given the consolidated level of review by the our chief executive officer, we operate as one reportable segment. Concentration of credit risk - We are exposed to concentrations of risk primarily in cash and accounts receivable, which are generally not collateralized. Our policy is to place our cash with high credit, quality financial institutions in order to limit the amount of credit exposure. Our cash deposits exceed FDIC limits. We do not require collateral from our customers, but our credit extension and collection policies include monitoring payments and aggressively pursuing delinquent accounts. We maintain allowances for potential credit losses. Customer concentrations - In 2022, we had three individual customers with revenue concentration greater than 10% of our total revenue combining for 66.1% of the total revenue. At December 31, 2022, we had two customers greater than 10% of our total accounts receivable balance combing for a total of 63.3%. In 2021, we had three individual customers with revenue concentration greater than 10% of our total revenue combining for 62.9% of the total revenue. At December 31, 2021, we had four customers greater than 10% of our total accounts receivable balance combining for a total of 56.7%. Use of estimates - The preparation of financial statements, in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"), requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, net revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying consolidated financial statements are based upon management’s regular evaluation of the relevant facts and circumstances as of the date of the consolidated financial statements. We regularly evaluate estimates and assumptions related to goodwill and purchased intangible asset valuations and income tax valuation allowance. Actual results may differ from the estimates and assumptions used in preparing the accompanying consolidated financial statements, and such differences could be material. Litigation and settlement costs - From time to time, we are involved in disputes, litigation and other legal actions. In accordance with ASC 450 , Contingencies , we record a charge equal to at least the minimum estimated liability for a loss contingency when both of the following conditions are met: (i) information available prior to issuance of the consolidated financial statements indicates that it is probable that an asset had been impaired or a liability had been incurred as of the date of the consolidated financial statements and (ii) the range of loss can be reasonably estimated. Recent Accounting Pronouncements Not Yet Adopted In June 2016, (FASB) issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU 2016-13 replaces the existing incurred loss impairment model with a forward- looking expected credit loss model which will result in earlier recognition of credit losses. On November 15, 2019, the FASB delayed the effective date certain small public companies and other private companies. As amended, the effective date of ASC Topic 326 was delayed until fiscal years beginning after December 15, 2022 for SEC filers that are eligible to be smaller reporting companies under the SEC’s definition, as well as private companies and not-for-profit entities.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying amounts reported in the balance sheet for cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value based on the short-term nature of these items. In accordance with accounting principles generally accepted in the United States, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level hierarchy prioritizes the inputs used to measure fair value as follows: Level 1 – Valuation is based on quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 – Valuation is based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. The following table summarizes our cash equivalents and marketable securities measured at fair value. Certain marketable securities consist of investments in debt and equity securities. We classify our cash equivalents and marketable securities within Level 1 because we use observable inputs that reflect quoted market prices for identical assets in active markets to determine their fair value. We have classified debt securities as available for sale securities with unrealized gains and losses recorded as other comprehensive income. We have classified equity securities as trading and are marked to market with changes recorded as other income on the income statement. Any interest income or dividends are recorded within financing expense, net on the income statement. The cost, gross unrealized gains (losses) and fair value of marketable securities by major security type as of December 31, 2022 and 2021 were as follows: Investment Assets at Fair Value Investment Assets at Fair Value As of December 31, 2022 As of December 31, 2021 Level 1 Total Level 1 Total Debt securities $ 936,563 $ 936,563 $ 959,207 $ 959,207 Equity securities 1,253,027 1,253,027 1,828,284 1,828,284 Cash equivalents 801 801 5,222,759 5,222,759 Total Investments at Fair Value $ 2,190,391 $ 2,190,391 $ 8,010,250 $ 8,010,250 As of December 31, 2022 As of December 31, 2021 Cost Unrealized Gain (Loss) Fair Value Cost Unrealized Gain (Loss) Fair Value Marketable securities Debt securities $ 1,021,431 $ (84,868) $ 936,563 $ 905,470 $ 53,737 $ 959,207 Equity securities 1,776,773 (523,746) 1,253,027 2,100,305 (272,021) 1,828,284 Total marketable securities $ 2,189,590 $ 2,787,491 The realized loss on the securities as of December 31, 2022 was approximately $181,000.

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts	12 Months Ended
	Dec. 31, 2022
Allowance for Doubtful Accounts [Abstract]
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The activity in the allowance for doubtful accounts was as follows during the years ended December 31, 2022 and 2021: 2022 2021 Balance at the beginning of the year $ 202,904 $ 209,667 Provision for bad debts 1,265,143 7,487 Charge-offs (27,369) (16,154) Recoveries — 1,904 Balance at the end of the year $ 1,440,678 $ 202,904 During 2022, we expanded our Direct customer business by 73% due in part by acquiring new customers (see Note 2). These customers typically require longer credit terms than traditional CPC based customers. One of these Direct customers was a significant portion, 24.1% of our total revenue, and has stretched its payments to 120 days and beyond. Though the customer is paying amounts due and has significantly reduced the balance since year end, management believed it to be prudent to increase the allowance for doubtful accounts.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment The net carrying value of property and equipment at December 31, 2022 and 2021 was as follows: 2022 2021 Furniture and fixtures $ 293,152 $ 293,152 Equipment 1,265,752 1,164,671 Capitalized labor 14,503,608 12,914,820 Leasehold improvements 458,885 458,885 Subtotal 16,521,397 14,831,528 Less: accumulated depreciation and amortization (14,852,425) (13,324,762) Total $ 1,668,972 $ 1,506,766 Depreciation expense was $1,527,663 and $1,277,664, respectively, for the years ended December 31, 2022 and 2021.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill The following is a schedule of intangible assets and goodwill as of December 31, 2022: Term Carrying Accumulated Amortization and Impairment Net Carrying Value 2022 Customer list, Google 20 years $ 8,820,000 $ (4,777,500) $ 4,042,500 $ 441,000 Technology 5 years 3,600,000 (3,600,000) — 60,000 Customer list, ReTargeter 5 years 1,931,250 (1,319,688) 611,562 386,250 Customer list, all other 10 years 1,610,000 (1,610,000) — 26,794 Brand name, ReTargeter 5 years 643,750 (439,896) 203,854 128,750 Customer relationships 20 years 570,000 (168,625) 401,375 28,500 Trade names, web properties - 390,000 — 390,000 — Intangible assets classified as long-term $ 17,565,000 $ (11,915,709) $ 5,649,291 $ 1,071,294 Goodwill, total $ 9,853,342 $ — $ 9,853,342 $ — The following is a schedule of intangible assets and goodwill as of December 31, 2021: Term Carrying Accumulated Amortization Net Carrying Value 2021 Customer list, Google 20 years $ 8,820,000 $ (4,336,500) $ 4,483,500 $ 441,000 Technology 5 years 3,600,000 (3,540,000) 60,000 720,000 Customer list, ReTargeter 5 years 1,931,250 (933,438) 997,812 386,250 Customer list, all other 10 years 1,610,000 (1,583,206) 26,794 161,004 Brand name, ReTargeter 5 years 643,750 (311,146) 332,604 128,750 Customer relationships 20 years 570,000 (140,125) 429,875 28,500 Tradenames, web properties (1) - 390,000 — 390,000 — Intangible assets classified as long-term $ 17,565,000 $ (10,844,415) $ 6,720,585 $ 1,865,504 Goodwill, total $ 9,853,342 $ — $ 9,853,342 $ — ___________ (1) The trade names related to our web properties have an indefinite life, and as such are not amortized. Our amortization expense over the next five years and thereafter is as follows: 2023 $ 984,500 2024 769,917 2025 469,500 2026 469,500 2027 469,500 Thereafter 2,096,374 Total $ 5,259,291

Bank Debt

Bank Debt	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Bank Debt	Bank Debt On March 12, 2020, we closed on the Loan and Security Agreement dated February 28, 2020 with Hitachi. Under the terms of the Loan and Security Agreement, Hitachi has provided us with a $5,000,000 line of credit commitment. We are permitted to borrow (i) 90% of the aggregate Eligible Accounts Receivable, plus (i) the lesser of 75% of the aggregate Unbilled Accounts Receivable or 50% of the amount available to borrow under (i), up to the maximum credit commitment. The amount available to borrow as of December 31, 2022 was approximately $4.8 million. The interest rate of 2% in excess of the Wall Street Journal Prime Rate, with a minimum rate of 6.75% per annum, on outstanding amounts. The principal and all accrued but unpaid interest are due on demand. We agreed to pay Hitachi a commitment fee of $50,000, with one half due upon the execution of the agreement and the balance due six months thereafter. Thereafter, we are obligated to pay Hitachi a commitment fee of $15,000 annually. We are also obligated to pay Hitachi a quarterly service fee of 0.30% on the monthly unused amount of the maximum credit line. In addition to a $2,000 document fee we have paid to Hitachi, if we had exited our relationship with Hitachi before March 1, 2022, we were obligated to pay Hitachi an exit fee of $50,000. On March 12, 2020, we drew $5,000,000 under this agreement, using $2,959,573 of these proceeds to satisfy existing debt obligations and the balance was used for working capital. At December 31, 2022 and 2021, there were no outstanding balances due under the Loan and Security Agreement.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following at December 31, 2022 and 2021: 2022 2021 Accrued marketing costs $ 3,321,598 $ 4,267,980 Accrued expenses and other 1,044,664 956,998 Accrued commissions and payroll 782,441 121,533 Arkansas grant contingency 10,000 10,000 Accrued taxes, current portion 3,755 17,880 Total $ 5,162,458 $ 5,374,391

Commitments

Commitments	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments	CommitmentsOn September 17, 2021, we signed a multi-year agreement with a business development partner to provide referral and support services to us. The agreement required an advance fee of $1.5 million with $300,000 recorded as a current asset. The advance is being amortized as marketing expenses over five

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes consists of the following at December 31, 2022 and 2021: 2022 2021 Current tax provision $ — $ — Deferred tax benefit — — Total tax benefit $ — $ — A reconciliation of the expected Federal statutory rate to our actual rate as reported for each of the periods presented is as follows: 2022 2021 Federal statutory rate 21 % 21 % State income tax rate, net of federal benefit 3 % 2 % Permanent differences — % 2 % Change in valuation allowance (24 %) (25 %) — % — % Deferred Income Taxes Deferred income taxes are the result of temporary differences between book and tax basis of certain assets and liabilities, timing of income and expense recognition of certain items and net operating loss carry-forwards. When required, we record a liability for unrecognized tax positions, defined as the aggregate tax effect of differences between positions taken on tax returns and the benefits recognized in the financial statements. Tax positions are measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. No tax benefits are recognized for positions that do not meet this threshold. We have no uncertain tax positions that require the us to record a liability. Our federal income tax returns are subject to examination by the IRS, generally for three years after they are filed. We assess temporary differences resulting from different treatments of items for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are recorded in the consolidated balance sheets. We evaluate the realizability of our deferred tax assets on a regular basis, an exercise that requires significant judgment. In the course of this evaluation we considered our recent history of tax losses, the economic conditions in which we operate, recent organizational changes and our forecasts and projections. We believe it is more likely than not that essentially none of our deferred tax assets will be realized, and we have recorded a valuation allowance for a significant portion of the net deferred tax assets that may not be realized as of December 31, 2022 and 2021. The following is a schedule of the deferred tax assets and liabilities as of December 31, 2022 and 2021: 2022 2021 Deferred tax assets: Net operating loss carry forward $ 36,506,618 $ 33,727,960 Intangible assets 543,000 585,500 Accrued expense 287,600 239,800 Deferred rent 3,000 3,800 Allowance for doubtful accounts 403,800 56,900 Stock compensation expense 869,900 610,900 Unrecognized Income/Loss 122,100 — Other 373,100 351,500 Subtotal 39,109,118 35,576,360 Less valuation allowance (37,976,018) (33,988,760) Total 1,133,100 1,587,600 Deferred tax liabilities: Intangible assets and property and equipment 1,242,200 1,373,300 Other (2,100) 321,300 Total 1,240,100 1,694,600 Total deferred tax liabilities $ (107,000) $ (107,000) The net operating losses amounted to approximately $101,260,617 and expire beginning 2023 through 2037. Included in the federal net operating loss carryforwards are $22.5 million generated from 2018 to 2022 that will not expire and are limited to offset 80% of our taxable income for years beginning after December 31, 2020. As of December 31, 2022, the Company has a net deferred tax liability of $107,000. The net deferred tax liability is due to goodwill that is amortized for tax purposes and a trade name that has an indefinite life, of which both are not being amortized for book purposes. The deferred tax liability relating to goodwill can only be offset up to 80% by NOLs generated in tax years ending December 31, 2018 and beyond, as well as NOLs available after consideration of IRC Section 382 limitation. The remaining portion that cannot be used remains as a liability. In future years, if the deferred tax assets are determined by management to be “more likely than not” to be realized, the recognized tax benefits relating to the reversal of the valuation allowance as of December 31, 2022 will be recorded. Under the provisions of the Internal Revenue Code, the net operating loss carryforwards are subject to review and possible adjustment by the Internal Revenue Service and state tax authorities. Net operating loss carryforwards may become subject to an annual limitation in the event of certain cumulative changes in the ownership interest of significant shareholders over a three-year period in excess of 50%, as defined under Sections 382 and 383 of the Internal Revenue Code, respectively, as well as similar state provisions. This could limit the amount of tax attributes that can be utilized annually to offset future taxable income or tax liabilities. The amount of the annual limitation is determined based on the value of the Company immediately prior to the ownership change. Subsequent ownership changes may further affect the limitation in future years. The Company has not conducted a study to assess whether a change of control has occurred or whether there have been multiple changes of control since inception due to the significant complexity and cost associated with such a study. If the Company has experienced a change of control, as defined by Section 382, at any time since inception, utilization of the net operating loss carryforwards would be subject to an annual limitation under Section 382, which is determined by first multiplying the value of the Company’s stock at the time of the ownership change by the applicable long-term tax-exempt rate, and then could be subject to additional adjustments, as required. Any limitation may result in expiration of a portion of the net operating loss carryforwards before utilization. Further, until a study is completed by the Company and any limitation is known, no amounts are being presented as an uncertain tax position. The Company remains open to examination by the Internal Revenue Service for the years ending December 31, 2018 through 2021. Carryforward attributes generated in all years since inception remain subject to adjustment. Our state income tax returns are open to audit under the statute of limitations for the same periods.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation We maintain a stock-based compensation program intended to attract, retain and provide incentives for talented employees and directors and align stockholder and employee interests. During the 2022 and 2021 periods, we granted restricted stock units ("RSUs") from the 2017 Equity Compensation Plan, as amended (“2017 ECP”). RSU vesting periods are generally up to three years and/or achieving certain financial targets. On January 1, 2022, in accordance with the plan provisions, the number of shares available for issuance under the 2017 ECP was increased by 150,000 shares. On June 16, 2022, our stockholders approved an amendment to the 2017 ECP increasing the number of shares of our common stock reserved for issuance by 15,000,000 shares. As of December 31, 2022, the total number of shares of our common stock reserved for issuance under the 2017 ECP was 24,550,000. Compensation Expense We recorded stock-based compensation expense for all equity incentive plans of $2,350,314 and $2,179,254 for the years ended December 31, 2022 and 2021, respectively. Total compensation cost not yet recognized at December 31, 2022 was $2,323,398 to be recognized over a weighted-average recognition period of one year. The following table summarizes the stock grants outstanding under our 2017 ECP plan as of December 31, 2022: Options Outstanding RSUs Outstanding Options and RSUs Exercised Available Shares Total Total 100,000 4,913,339 4,560,799 14,975,862 24,550,000 The fair value of restricted stock units is determined using market value of the common stock on the date of the grant. The fair value of stock options is determined using the Black-Scholes-Merton valuation model. The use of this valuation model involves assumptions that are judgmental and highly sensitive in the determination of compensation expense and include the expected life of the option, stock price volatility, risk-free interest rate, dividend yield, exercise price, and forfeiture rate. Forfeitures are estimated at the time of valuation and reduce expense ratably over the vesting period. The forfeiture rate, which is estimated at a weighted average of 0% of unvested options outstanding, is adjusted periodically based on the extent to which actual forfeitures differ, or are expected to differ, from the previous estimate. The following table summarizes our stock option activity during 2022: Options Weighted Average Exercise Price Outstanding, beginning of year 1,500 $ 0.56 Stock options, granted 100,000 $ 0.52 Stock options exercised — $ — Stock options canceled 1,500 $ 0.56 Outstanding, end of year 100,000 $ 0.52 Exercisable, end of year — $ — Expected volatility is based on the historical volatility of our common stock over the period commensurate with or longer than the expected life of the options. The expected life of the options is based on the vesting schedule of the option in relation to the overall term of the option. The risk free interest rate is based on the market yield of the U.S. Treasury Bill with a term equal to the expected term of the option awarded. We do not anticipate paying any dividends so the dividend yield in the model is zero. The following table summarizes the weighted average assumptions for our granted options and RSUs. Options RSUs Award/Strike Price $ 0.52 $ — Market Price $ 0.52 $ 0.41 Volatility 107 % — % Dividend Yield — % — % Expected Life 5.5 years 0 years Risk Free Rate 3 % — % The following table summarizes our restricted stock unit activity for 2022: Restricted Stock Unit Weighted Average Fair Value Outstanding, beginning of year 3,960,001 $ 1.33 Granted 2,960,000 $ 0.41 Vested (1,826,661) $ 1.34 Forfeited (180,001) $ 0.95 Outstanding, end of year 4,913,339 $ 0.79

Stockholders Equity

Stockholders Equity	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Stockholders Equity	Stockholders' Equity Common Stock On January 19, 2021, we raised $8 million in gross proceeds, before expenses, through the sale of our common stock, and on January 22, 2021, we raised $6.25 million in gross proceeds, before expenses, through sales of our common stock. Warrants On September 17, 2021, we signed an agreement with a marketing platform and consulting company to provide referral and support services to us for a period of five years (see Note 9 - Commitments). As part of that agreement, we granted a warrant exercisable into 300,000 shares of our common stock, which vests in two tranches when certain performance metrics are achieved. The warrant was valued using the Black Scholes option pricing model at a total of $149,551 based on a seven-year term, an implied volatility of 100%, a risk-free equivalent yield of 1.17%, and a stock price of $0.71. The warrant is classified as equity and will be expensed on a ratable basis over the vesting period of each tranche. On August 31, 2022, 85,862 shares vested in accordance with the contracted performance criteria. For the twelve months ended December 31, 2022, we recognized approximately $33 thousand in expense. Earnings per Share

Retirement Plan Costs

Retirement Plan Costs	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Retirement Plan Costs	Retirement Plan Costs We provide a 401(k) plan to help our employees prepare for retirement where we matched each employee's contributions to the plan up to the first four of the employee's annual salary. The matching contribution for the years ended 2022 and 2021 was $292,825 and $260,540, respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Leases We have entered into operating and finance leases primarily for real estate and equipment rental. These leases have terms which range from two years to four years, and often include one or more options to renew or in the case of equipment rental, to purchase the equipment. These operating and finance leases are listed as separate line items on our consolidated balance sheets and represent our right to use the underlying asset for the lease term. Our obligations to make lease payments are also listed as separate line items on our consolidated balance sheets. As of December 31, 2022 and December 31, 2021, total operating and financed right-of-use assets were $310,162 and $168,750, and $641,306 and $201,902, respectively. For the years-ended December 31, 2022 and 2021, we recorded $103,926 and $322,747 in amortization expense related to finance leases. Because the rate implicit in each lease is not readily determinable, we use our incremental borrowing rate to determine the present value of the lease payments. Information related to our operating lease liabilities for are as follows: December 31, 2022 Cash paid for operating lease liabilities $ 427,565 Weighted-average remaining lease term 2.97 years Weighted-average discount rate 6.25 % Minimum future lease payments ended December 31, 2022 2023 $ 303,172 2024 16,236 2025 5,251 2026 1,590 326,249 Less imputed interest (14,848) Total lease liabilities $ 311,401 Information related to our financed lease liabilities are as follows: December 31, 2022 Cash paid for finance lease liabilities $ 146,586 Weighted-average remaining lease term 2.0 years Weighted-average discount rate 6.25 % Minimum future lease payments ended December 31, 2022 2023 $ 105,655 2024 56,180 2025 18,491 180,326 Less imputed interest (8,726) Total lease liabilities $ 171,600
Leases	Leases We have entered into operating and finance leases primarily for real estate and equipment rental. These leases have terms which range from two years to four years, and often include one or more options to renew or in the case of equipment rental, to purchase the equipment. These operating and finance leases are listed as separate line items on our consolidated balance sheets and represent our right to use the underlying asset for the lease term. Our obligations to make lease payments are also listed as separate line items on our consolidated balance sheets. As of December 31, 2022 and December 31, 2021, total operating and financed right-of-use assets were $310,162 and $168,750, and $641,306 and $201,902, respectively. For the years-ended December 31, 2022 and 2021, we recorded $103,926 and $322,747 in amortization expense related to finance leases. Because the rate implicit in each lease is not readily determinable, we use our incremental borrowing rate to determine the present value of the lease payments. Information related to our operating lease liabilities for are as follows: December 31, 2022 Cash paid for operating lease liabilities $ 427,565 Weighted-average remaining lease term 2.97 years Weighted-average discount rate 6.25 % Minimum future lease payments ended December 31, 2022 2023 $ 303,172 2024 16,236 2025 5,251 2026 1,590 326,249 Less imputed interest (14,848) Total lease liabilities $ 311,401 Information related to our financed lease liabilities are as follows: December 31, 2022 Cash paid for finance lease liabilities $ 146,586 Weighted-average remaining lease term 2.0 years Weighted-average discount rate 6.25 % Minimum future lease payments ended December 31, 2022 2023 $ 105,655 2024 56,180 2025 18,491 180,326 Less imputed interest (8,726) Total lease liabilities $ 171,600

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Parties	Related PartiesA board member of the Company is employed by the investment company that is the financial advisor and custodian of the Company’s marketable securities. Marketable securities were $2,189,590 and $2,787,491 as of December 31, 2022 and 2021, respectively. The fees paid to the financial advisor were not material.In addition, a board member of the Company is also a minority shareholder and consultant to one of the Company’s largest customers during 2022. Revenue from this customer was approximately $18.3 million and $5.7 million for the years ended December 31, 2022 and 2021, respectively, and accounts receivable was approximately $6.7 million as of December 31, 2022.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event On March 1, 2023, Inuvo, Inc. (“Inuvo”) entered into Amendment No. 1 to Loan and Security Agreement and Collateral Documents (hereinafter referred to, as amended, as the “Agreement”) with Mitsubishi HC Capital America, Inc., f/k/a/ Hitachi Capital America Corp. (“MHCA”). Under the terms of the Agreement, MHCA has provided us with a $5,000,000 line of credit commitment. We are permitted to borrow up to 80% of the aggregate Eligible Accounts Receivable (which may increase to 85% if certain conditions are met), up to the maximum credit commitment of $5,000,000. We will pay Hitachi monthly interest at the rate of 1.75% in excess of the Wall Street Journal Prime Rate. The principal and all accrued but unpaid interest are due on demand. In the event of a default under the terms of the Loan and Security Agreement, the interest rate increases to 6% greater than the interest rate in effect from time to time prior to a default. The Agreement contains certain affirmative and negative covenants to which we are also subject. We agreed to pay MHCA an amendment fee of $10,000 on issuance of the Agreement, and thereafter an annual commitment fee of $10,000. We are also obligated to pay MHCA a quarterly service fee of 0.20% on the monthly unused amount of the maximum credit line. If we should repay the amounts due under the Agreement (i) before February 28, 2024, we are obligated to pay MHCA an exit fee of $50,000, or (ii) after February 28, 2024 but before February 28, 2025, we are obligated to pay MHCA an exit fee of $25,000.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation - The consolidated financial statements include our accounts and those of our wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Cash and cash equivalents	Cash and cash equivalents - Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less.
Investments	Investments - We have classified debt securities as available for sale securities with unrealized gains and losses recorded as other comprehensive income. Equity securities are marked to market with changes recorded as other income on the income statement. Any interest income or dividends are recorded as interest income on the income statement.
Revenue recognition	Revenue recognition - We generate revenue by identifying audiences and presenting advertisements on behalf of our customers. We may contract directly with a brand, a Direct Customer or we may serve a brand through a contract with an agency, an Indirect Customer. Revenue is recognized when services are provided to a customer in an amount that reflects the consideration the Company expects to receive in exchange for those services. We charge our customers on a cents per thousand (CPM) basis, CPC basis, or as a specific dollar charge. Revenue billed as CPM is generally programmatic digital advertising and is performed under a contract known as an Insertion Order (“IO”). Programmatic digital advertising revenue is recognized in part or fully in the period the IO is partially or fully executed. Revenue earned from placing an ad or an impression on websites, some of which we own, may be on a CPM or CPC basis. We recognize revenue from ad placement and serving impressions in the period in which they occur. The Company settles ad placement and CPC transactions with its customers net of any adjustments for poor traffic quality. Payments to advertising exchanges that provide access to digital inventory and to a lesser extent, payments to website publishers and app developers that host advertisements we serve are recognized as cost of revenue.
Accounts receivable	Accounts receivable - Accounts receivable consists of trade receivables from customers. We record accounts receivable at its net realizable value, recognizing an allowance for doubtful accounts based on our best estimate of probable credit losses on our existing accounts receivable. Balances are written off against the allowance after all means of collection have been exhausted and the possibility of recovery is considered remote.
Marketing costs	Marketing costs - Marketing costs are predominately traffic acquisition costs and include those expenses required to attract an audience to our owned and operated applications and websites. We expense these costs as incurred and present them as a separate line item in operating expenses in the consolidated statements of operations.
Property and equipment	Property and equipment - Property and equipment are stated at cost, net of accumulated depreciation and amortization. Major renewals and improvements are capitalized while maintenance and repairs which do not improve or extend the life of the respective assets are expensed as incurred. Costs of assets sold or retired and the related accumulated depreciation are eliminated from accounts and the net gain or loss is reflected as an operating expense in the consolidated statements of operations. five two
Capitalized Software Costs	Capitalized Software Costs - We capitalize certain labor costs related to internally developed software and amortize these costs using the straight-line method over the estimated useful life of the software, generally two years. We do not sell internally developed software. Certain development costs not meeting the criteria for capitalization, in accordance with ASC 350-40 Internal-Use Software , are expensed as incurred.
Goodwill	Goodwill - Goodwill is recorded as the difference, if any, between the aggregate consideration paid for an acquisition and the fair value of the net tangible and intangible assets acquired. We perform an impairment test annually as of December 31, 2022. As a result, we perform our annual goodwill impairment test by comparing the fair value of our reporting unit with its carrying amount. We generally determine the fair value of our reporting unit using the income approach methodology of valuation that includes the undiscounted cash flow method as well as other generally accepted valuation methodologies. If the carrying amount of a reporting unit exceeds the reporting unit’s fair value, the amount it exceeds fair value is equivalent to the amount of impairment loss.
Intangible Assets	Intangible Assets - We allocate a portion of the purchase price of acquisitions to identifiable intangible assets and we amortize definite-lived assets over their estimated useful lives. We consider our indefinite-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Trade names are not amortized as they are believed to have an indefinite life. Trade names are reviewed annually for impairment under ASC 350. We also acquire intangible assets outside of acquisitions and record them at their fair value and amortize them over their estimated useful lives.
Income taxes	Income taxes - We utilize the liability method of accounting for income taxes as set forth in ASC 740 , Income Taxes (“ASC 740”). Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax bases of assets and liabilities. A valuation allowance is recorded when it is more likely than not that some of the deferred tax assets will not be realized. In assessing the need for a valuation allowance, we must project future levels of taxable income. We examine evidence related to the history of taxable losses or income, the economic conditions in which we operate, organizational characteristics, our forecasts and projections, as well as factors affecting liquidity. All our deferred tax assets and liabilities are recorded as long-term assets and liabilities in the consolidated balance sheets. We believe it is more likely than not that essentially none of our deferred tax assets will be realized, and we have recorded a valuation for a significant portion of the net deferred tax assets as of December 31, 2022 and 2021.
Impairment of long-lived assets	Impairment of long-lived assets - In accordance with ASC 360 , Property, Plant and Equipment
Stock-based compensation	Stock-based compensation - We recognize stock compensation based on the recognition provisions ASC 718 , Compensation – Stock Compensation, which establishes accounting for stock-based awards exchanged for employee and non-employee services and requires companies to expense the estimated grant date fair value of stock awards over the requisite employee service period. The fair value of restricted stock awards is based on the market price of our common stock on the date of the grant. To value stock option awards, we use the Black-Scholes-Merton option pricing model. This model involves assumptions including the expected life of the option, stock price volatility, risk-free interest rate, dividend yield and exercise price. We recognize compensation expense in earnings over the requisite service period, applying a forfeiture rate to account for expected forfeitures of awards.
Government Grant	Government Grant- During the first quarter of 2013, we received a grant from the state of Arkansas to relocate our corporate headquarters to Conway, AR. We recognized the grant funds into income as a reduction of the related expense in the period in which those expenses were recognized. We deferred grant funds related to capitalized costs and classified them as current or long-term liabilities on the balance sheet according to the classification of the associated asset.
Earnings per share	Earnings per share - During the periods presented, we had securities that could potentially dilute basic earnings per share in the future, but were excluded from the computation of diluted net loss per share, as their effect would have been anti-dilutive.  We reported a net loss for 2022 and 2021 and therefore, shares associated with stock options, restricted stock and convertible debt are not included because they are anti-dilutive.  Basic and diluted net loss per share is the same for all periods presented.
Operating segments	Operating segments - In accordance with ASC 280 - Segment reporting
Concentration of credit risk	Concentration of credit risk - We are exposed to concentrations of risk primarily in cash and accounts receivable, which are generally not collateralized. Our policy is to place our cash with high credit, quality financial institutions in order to limit the amount of credit exposure. Our cash deposits exceed FDIC limits. We do not require collateral from our customers, but our credit extension and collection policies include monitoring payments and aggressively pursuing delinquent accounts. We maintain allowances for potential credit losses.
Use of estimates	Use of estimates - The preparation of financial statements, in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"), requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, net revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying consolidated financial statements are based upon management’s regular evaluation of the relevant facts and circumstances as of the date of the consolidated financial statements. We regularly evaluate estimates and assumptions related to goodwill and purchased intangible asset valuations and income tax valuation allowance. Actual results may differ from the estimates and assumptions used in preparing the accompanying consolidated financial statements, and such differences could be material.
Litigation and settlement costs	Litigation and settlement costs - From time to time, we are involved in disputes, litigation and other legal actions. In accordance with ASC 450 , Contingencies
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In June 2016, (FASB) issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU 2016-13 replaces the existing incurred loss impairment model with a forward- looking expected credit loss model which will result in earlier recognition of credit losses. On November 15, 2019, the FASB delayed the effective date certain small public companies and other private companies. As amended, the effective date of ASC Topic 326 was delayed until fiscal years beginning after December 15, 2022 for SEC filers that are eligible to be smaller reporting companies under the SEC’s definition, as well as private companies and not-for-profit entities.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Disaggregation of Revenue	For the twelve months ended December 31, 2022 2021 Direct customers $ 36,226,223 $ 20,922,750 Indirect customers 39,248,224 38,492,280 Consulting Services and other 129,298 415,658 Total $ 75,603,745 $ 59,830,688

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The cost, gross unrealized gains (losses) and fair value of marketable securities by major security type as of December 31, 2022 and 2021 were as follows: Investment Assets at Fair Value Investment Assets at Fair Value As of December 31, 2022 As of December 31, 2021 Level 1 Total Level 1 Total Debt securities $ 936,563 $ 936,563 $ 959,207 $ 959,207 Equity securities 1,253,027 1,253,027 1,828,284 1,828,284 Cash equivalents 801 801 5,222,759 5,222,759 Total Investments at Fair Value $ 2,190,391 $ 2,190,391 $ 8,010,250 $ 8,010,250 As of December 31, 2022 As of December 31, 2021 Cost Unrealized Gain (Loss) Fair Value Cost Unrealized Gain (Loss) Fair Value Marketable securities Debt securities $ 1,021,431 $ (84,868) $ 936,563 $ 905,470 $ 53,737 $ 959,207 Equity securities 1,776,773 (523,746) 1,253,027 2,100,305 (272,021) 1,828,284 Total marketable securities $ 2,189,590 $ 2,787,491

Allowance for Doubtful Accoun_2

Allowance for Doubtful Accounts (Tables)	12 Months Ended
	Dec. 31, 2022
Allowance for Doubtful Accounts [Abstract]
Schedule of Allowance for Doubtful Accounts	The activity in the allowance for doubtful accounts was as follows during the years ended December 31, 2022 and 2021: 2022 2021 Balance at the beginning of the year $ 202,904 $ 209,667 Provision for bad debts 1,265,143 7,487 Charge-offs (27,369) (16,154) Recoveries — 1,904 Balance at the end of the year $ 1,440,678 $ 202,904

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Net Carrying value of Property and Equipment	The net carrying value of property and equipment at December 31, 2022 and 2021 was as follows: 2022 2021 Furniture and fixtures $ 293,152 $ 293,152 Equipment 1,265,752 1,164,671 Capitalized labor 14,503,608 12,914,820 Leasehold improvements 458,885 458,885 Subtotal 16,521,397 14,831,528 Less: accumulated depreciation and amortization (14,852,425) (13,324,762) Total $ 1,668,972 $ 1,506,766

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets from Continuing Operations	The following is a schedule of intangible assets and goodwill as of December 31, 2022: Term Carrying Accumulated Amortization and Impairment Net Carrying Value 2022 Customer list, Google 20 years $ 8,820,000 $ (4,777,500) $ 4,042,500 $ 441,000 Technology 5 years 3,600,000 (3,600,000) — 60,000 Customer list, ReTargeter 5 years 1,931,250 (1,319,688) 611,562 386,250 Customer list, all other 10 years 1,610,000 (1,610,000) — 26,794 Brand name, ReTargeter 5 years 643,750 (439,896) 203,854 128,750 Customer relationships 20 years 570,000 (168,625) 401,375 28,500 Trade names, web properties - 390,000 — 390,000 — Intangible assets classified as long-term $ 17,565,000 $ (11,915,709) $ 5,649,291 $ 1,071,294 Goodwill, total $ 9,853,342 $ — $ 9,853,342 $ — The following is a schedule of intangible assets and goodwill as of December 31, 2021: Term Carrying Accumulated Amortization Net Carrying Value 2021 Customer list, Google 20 years $ 8,820,000 $ (4,336,500) $ 4,483,500 $ 441,000 Technology 5 years 3,600,000 (3,540,000) 60,000 720,000 Customer list, ReTargeter 5 years 1,931,250 (933,438) 997,812 386,250 Customer list, all other 10 years 1,610,000 (1,583,206) 26,794 161,004 Brand name, ReTargeter 5 years 643,750 (311,146) 332,604 128,750 Customer relationships 20 years 570,000 (140,125) 429,875 28,500 Tradenames, web properties (1) - 390,000 — 390,000 — Intangible assets classified as long-term $ 17,565,000 $ (10,844,415) $ 6,720,585 $ 1,865,504 Goodwill, total $ 9,853,342 $ — $ 9,853,342 $ — ___________
Schedule of Amortization Expense	Our amortization expense over the next five years and thereafter is as follows: 2023 $ 984,500 2024 769,917 2025 469,500 2026 469,500 2027 469,500 Thereafter 2,096,374 Total $ 5,259,291

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following at December 31, 2022 and 2021: 2022 2021 Accrued marketing costs $ 3,321,598 $ 4,267,980 Accrued expenses and other 1,044,664 956,998 Accrued commissions and payroll 782,441 121,533 Arkansas grant contingency 10,000 10,000 Accrued taxes, current portion 3,755 17,880 Total $ 5,162,458 $ 5,374,391

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The provision for income taxes consists of the following at December 31, 2022 and 2021: 2022 2021 Current tax provision $ — $ — Deferred tax benefit — — Total tax benefit $ — $ —
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the expected Federal statutory rate to our actual rate as reported for each of the periods presented is as follows: 2022 2021 Federal statutory rate 21 % 21 % State income tax rate, net of federal benefit 3 % 2 % Permanent differences — % 2 % Change in valuation allowance (24 %) (25 %) — % — %
Schedule of Deferred Tax Assets and Liabilities	The following is a schedule of the deferred tax assets and liabilities as of December 31, 2022 and 2021: 2022 2021 Deferred tax assets: Net operating loss carry forward $ 36,506,618 $ 33,727,960 Intangible assets 543,000 585,500 Accrued expense 287,600 239,800 Deferred rent 3,000 3,800 Allowance for doubtful accounts 403,800 56,900 Stock compensation expense 869,900 610,900 Unrecognized Income/Loss 122,100 — Other 373,100 351,500 Subtotal 39,109,118 35,576,360 Less valuation allowance (37,976,018) (33,988,760) Total 1,133,100 1,587,600 Deferred tax liabilities: Intangible assets and property and equipment 1,242,200 1,373,300 Other (2,100) 321,300 Total 1,240,100 1,694,600 Total deferred tax liabilities $ (107,000) $ (107,000)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Based Compensation Grants	The following table summarizes the stock grants outstanding under our 2017 ECP plan as of December 31, 2022: Options Outstanding RSUs Outstanding Options and RSUs Exercised Available Shares Total Total 100,000 4,913,339 4,560,799 14,975,862 24,550,000
Schedule of Stock Options	The following table summarizes our stock option activity during 2022: Options Weighted Average Exercise Price Outstanding, beginning of year 1,500 $ 0.56 Stock options, granted 100,000 $ 0.52 Stock options exercised — $ — Stock options canceled 1,500 $ 0.56 Outstanding, end of year 100,000 $ 0.52 Exercisable, end of year — $ —
Schedule of Stock Options and Restricted Stock Unit Weighted Average Assumptions	The following table summarizes the weighted average assumptions for our granted options and RSUs. Options RSUs Award/Strike Price $ 0.52 $ — Market Price $ 0.52 $ 0.41 Volatility 107 % — % Dividend Yield — % — % Expected Life 5.5 years 0 years Risk Free Rate 3 % — %
Schedule of Restricted Stock Unit Activity	The following table summarizes our restricted stock unit activity for 2022: Restricted Stock Unit Weighted Average Fair Value Outstanding, beginning of year 3,960,001 $ 1.33 Granted 2,960,000 $ 0.41 Vested (1,826,661) $ 1.34 Forfeited (180,001) $ 0.95 Outstanding, end of year 4,913,339 $ 0.79

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Information Relating to Leases	Information related to our operating lease liabilities for are as follows: December 31, 2022 Cash paid for operating lease liabilities $ 427,565 Weighted-average remaining lease term 2.97 years Weighted-average discount rate 6.25 % Information related to our financed lease liabilities are as follows: December 31, 2022 Cash paid for finance lease liabilities $ 146,586 Weighted-average remaining lease term 2.0 years Weighted-average discount rate 6.25 %
Schedule of Operating Lease Maturity	Minimum future lease payments ended December 31, 2022 2023 $ 303,172 2024 16,236 2025 5,251 2026 1,590 326,249 Less imputed interest (14,848) Total lease liabilities $ 311,401
Schedule of Finance Lease Liability	Minimum future lease payments ended December 31, 2022 2023 $ 105,655 2024 56,180 2025 18,491 180,326 Less imputed interest (8,726) Total lease liabilities $ 171,600

Organization and Business (Deta

Organization and Business (Details)			1 Months Ended	12 Months Ended
	Jan. 22, 2021 USD ($)	Jan. 19, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) patent	Dec. 31, 2021 USD ($)	May 28, 2021 USD ($)
Debt Instrument [Line Items]
Patents issued | patent				19
Pending patents | patent				8
Consideration received on transaction	$ 6,250,000	$ 8,000,000
Payments to acquire investments			$ 2,000,000
Cash deposited, interest-bearing			$ 10,000,000
Cash, cash equivalents, and short-term marketable securities				$ 4,500,000
Working capital, net				2,800,000
Net loss				13,106,539	$ 7,600,649
Net cash outflows from operations				5,573,991	5,276,257
Labor costs related to internally developed software				1,700,000
Accumulated deficit				157,057,558	$ 143,951,019
Sales Agreement
Debt Instrument [Line Items]
Sale of stock, consideration received on transaction, authorized amount						$ 35,000,000
Period for which advance notice is due to terminate agreement (days)						10 days
Commission fee, percent						3%
Money Market Funds And Marketable Debt And Equity Securities
Debt Instrument [Line Items]
Investment in cash equivalents and marketable debt and equity securities				$ 2,000,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net revenue	$ 75,603,745	$ 59,830,688
Consulting Services and other
Disaggregation of Revenue [Line Items]
Net revenue	129,298	415,658
Direct customers
Disaggregation of Revenue [Line Items]
Net revenue	36,226,223	20,922,750
Indirect customers
Disaggregation of Revenue [Line Items]
Net revenue	$ 39,248,224	$ 38,492,280

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Narrative (Details)			12 Months Ended
	Dec. 31, 2022 USD ($) employee	Dec. 31, 2021 USD ($) employee	Dec. 31, 2022 USD ($) segment employee	Dec. 31, 2021 USD ($) employee
Schedule of Significant Accounting Policies [Line Items]
Depreciation			$ 1,527,663	$ 1,277,664
Impairment of goodwill			0	0
Impairment of finite-lived intangible assets			0	0
Income tax penalties and interest expense			$ 0	$ 0
Employees employed under grant | employee	48	41	48	41
Employees under required amount | employee	2		2
Employees required to be employed | employee	50	43	50	43
Arkansas grant contingency	$ 10,000	$ 10,000	$ 10,000	$ 10,000
Number of reportable segments | segment			1
Customer Concentration Risk | Net Revenue | Three Largest Customers
Schedule of Significant Accounting Policies [Line Items]
Concentration risk, percentage			66.10%	62.90%
Customer Concentration Risk | Accounts Receivable | Two Largest Customers
Schedule of Significant Accounting Policies [Line Items]
Concentration risk, percentage	63.30%
Customer Concentration Risk | Accounts Receivable | Four Largest Customers
Schedule of Significant Accounting Policies [Line Items]
Concentration risk, percentage		56.70%
Equipment
Schedule of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			3 years
Furniture and fixtures | Minimum
Schedule of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			5 years
Furniture and fixtures | Maximum
Schedule of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			7 years
Capitalized labor | Minimum
Schedule of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			2 years
Capitalized labor | Maximum
Schedule of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			3 years
Software Development
Schedule of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			2 years

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Investments at Fair Value (Details) - Fair Value, Recurring - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 936,563	$ 959,207
Equity securities	1,253,027	1,828,284
Cash equivalents	801	5,222,759
Total Investments at Fair Value	2,190,391	8,010,250
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	936,563	959,207
Equity securities	1,253,027	1,828,284
Cash equivalents	801	5,222,759
Total Investments at Fair Value	$ 2,190,391	$ 8,010,250

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Cash Equivalents and Marketable Securities (Details) - Fair Value, Recurring - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, fair value	$ 936,563	$ 959,207
Equity securities, fair value	1,253,027	1,828,284
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, cost	1,021,431	905,470
Debt securities, unrealized gain (loss)	(84,868)	53,737
Debt securities, fair value	936,563	959,207
Equity securities, cost	1,776,773	2,100,305
Equity securities, unrealized gain (loss)	(523,746)	(272,021)
Equity securities, fair value	1,253,027	1,828,284
Total marketable securities	$ 2,189,590	$ 2,787,491

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details)	Dec. 31, 2022 USD ($)
Fair Value Disclosures [Abstract]
Realized loss on marketable securities	$ 181,000

Allowance for Doubtful Accoun_3

Allowance for Doubtful Accounts - Schedule of Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance at the beginning of the year	$ 202,904	$ 209,667
Provision for bad debts	1,265,143	7,487
Charge-offs	(27,369)	(16,154)
Recoveries	0	1,904
Balance at the end of the year	$ 1,440,678	$ 202,904

Allowance for Doubtful Accoun_4

Allowance for Doubtful Accounts - Narrative (Details)	12 Months Ended
	Dec. 31, 2022
Direct customers
Disaggregation of Revenue [Line Items]
Increase in revenue from Direct customer business	0.73
Largest Customer | Net Revenue | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	24.10%

Property and Equipment - Schedu

Property and Equipment - Schedule of Carrying Value (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 16,521,397	$ 14,831,528
Less: accumulated depreciation and amortization	(14,852,425)	(13,324,762)
Total	1,668,972	1,506,766
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	293,152	293,152
Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,265,752	1,164,671
Capitalized labor
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	14,503,608	12,914,820
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 458,885	$ 458,885

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1,527,663	$ 1,277,664

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Schedule of Goodwill and Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Net Carrying Value	$ 5,259,291
Intangible assets classified as long-term
Carrying Value	17,565,000	$ 17,565,000
Accumulated Amortization and Impairment	(11,915,709)	(10,844,415)
Net Carrying Value	5,649,291	6,720,585
Amortization	1,071,294	1,865,504
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Carrying Value	9,853,342	9,853,342
Accumulated Amortization and Impairment	0	0
Goodwill	9,853,342	9,853,342
Trade names, web properties
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Trade names, web properties	$ 390,000	$ 390,000
Customer list, Google
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Term	20 years	20 years
Carrying Value	$ 8,820,000	$ 8,820,000
Accumulated Amortization and Impairment	(4,777,500)	(4,336,500)
Net Carrying Value	4,042,500	4,483,500
Amortization	$ 441,000	$ 441,000
Technology
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Term	5 years	5 years
Carrying Value	$ 3,600,000	$ 3,600,000
Accumulated Amortization and Impairment	(3,600,000)	(3,540,000)
Net Carrying Value	0	60,000
Amortization	$ 60,000	$ 720,000
Customer list, ReTargeter
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Term	5 years	5 years
Carrying Value	$ 1,931,250	$ 1,931,250
Accumulated Amortization and Impairment	(1,319,688)	(933,438)
Net Carrying Value	611,562	997,812
Amortization	$ 386,250	$ 386,250
Customer list, all other
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Term	10 years	10 years
Carrying Value	$ 1,610,000	$ 1,610,000
Accumulated Amortization and Impairment	(1,610,000)	(1,583,206)
Net Carrying Value	0	26,794
Amortization	$ 26,794	$ 161,004
Brand name, ReTargeter
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Term	5 years	5 years
Carrying Value	$ 643,750	$ 643,750
Accumulated Amortization and Impairment	(439,896)	(311,146)
Net Carrying Value	203,854	332,604
Amortization	$ 128,750	$ 128,750
Customer relationships
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Term	20 years	20 years
Carrying Value	$ 570,000	$ 570,000
Accumulated Amortization and Impairment	(168,625)	(140,125)
Net Carrying Value	401,375	429,875
Amortization	$ 28,500	$ 28,500

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Amortization Expense (Details)	Dec. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 984,500
2024	769,917
2025	469,500
2026	469,500
2027	469,500
Thereafter	2,096,374
Net Carrying Value	$ 5,259,291

Bank Debt - Narrative (Details)

Bank Debt - Narrative (Details) - USD ($)	Mar. 12, 2020	Feb. 28, 2020	Dec. 31, 2022	Dec. 31, 2021
Hitachi Capital America Corp.
Debt Instrument [Line Items]
Commitment fee amount		$ 50,000
Term of balance due		6 months
Annual commitment fee amount		$ 15,000
Quarterly service fee		0.30%
Amendment fee		$ 2,000
Exit fee		50,000
Outstanding balances due under line of credit			$ 0	$ 0
Percentage due upon execution	50%
Loan And Security Credit Agreement | Hitachi Capital America Corp.
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 5,000,000
Percentage of aggregate Eligible Accounts Receivable		90%
Percentage of aggregate Unbilled Accounts Receivable		75%
Percentage of amount available to borrow under maximum credit commitment		50%
Available borrowing capacity			$ 4,800,000
Stated interest rate		6.75%
Loan And Security Credit Agreement | Monthly Interest | Hitachi Capital America Corp.
Debt Instrument [Line Items]
Stated interest rate		2%
Credit Agreement | Western Alliance Bank
Debt Instrument [Line Items]
Extinguishment of debt		$ 2,959,573

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued marketing costs	$ 3,321,598	$ 4,267,980
Accrued expenses and other	1,044,664	956,998
Accrued commissions and payroll	782,441	121,533
Arkansas grant contingency	10,000	10,000
Accrued taxes, current portion	3,755	17,880
Total	$ 5,162,458	$ 5,374,391

Commitments (Details)

Commitments (Details) - USD ($)		12 Months Ended
	Sep. 17, 2021	Dec. 31, 2022	Dec. 31, 2021
Other Commitments [Line Items]
Referral and support services agreement advance	$ 1,500,000	$ 800,000	$ 1,100,000
Referral agreement, term	5 years
Referral agreement amortized as marketing expense		400,000
Class of warrant or right, granted in period	300,000
Class of warrant or right, vesting period	2 years
Commission recognized		$ 645,000
Current Asset
Other Commitments [Line Items]
Referral and support services agreement advance	$ 300,000

Income Taxes - Provision for In

Income Taxes - Provision for Income Tax (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Current tax provision	$ 0	$ 0
Deferred tax benefit	0	0
Total tax benefit	$ 0	$ 0

Income Taxes - Income Tax Rate

Income Taxes - Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal statutory rate	21%	21%
State income tax rate, net of federal benefit	3%	2%
Permanent differences	0%	2%
Change in valuation allowance	(24.00%)	(25.00%)
Effective income tax rate	0%	0%

Income Taxes - Schedule of the

Income Taxes - Schedule of the Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss carry forward	$ 36,506,618	$ 33,727,960
Intangible assets	543,000	585,500
Accrued expense	287,600	239,800
Deferred rent	3,000	3,800
Allowance for doubtful accounts	403,800	56,900
Stock compensation expense	869,900	610,900
Unrecognized Income/Loss	122,100	0
Other	373,100	351,500
Subtotal	39,109,118	35,576,360
Less valuation allowance	(37,976,018)	(33,988,760)
Total	1,133,100	1,587,600
Deferred tax liabilities:
Intangible assets and property and equipment	1,242,200	1,373,300
Other	(2,100)	321,300
Total	1,240,100	1,694,600
Total deferred tax liabilities	$ (107,000)	$ (107,000)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 101,260,617
Operating loss carryforwards, not subject to expiration	22,500,000
Net deferred tax liabilities	$ 107,000	$ 107,000

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($)			12 Months Ended
	Jun. 16, 2022	Jan. 01, 2022	Dec. 31, 2022	Dec. 31, 2021
Compensation Expense
Award vesting period			3 years
Number of shares reserved for issuance (in shares)			24,550,000
Stock based compensation			$ 2,350,314	$ 2,179,254
Compensation cost related to non vested awards not yet recognized			$ 2,323,398
Average remaining expense recognition period			1 year
Number of options exercisable (in shares)			0
Weighted average exercise price (in usd per share)			$ 0
Granted in period			100,000
Dividend Yield			0%
2017 ECP
Compensation Expense
Increase in number of shares (in shares)	15,000,000	150,000
Number of shares reserved for issuance (in shares)			24,550,000
Options
Compensation Expense
Expected forfeiture rate			0%
Dividend Yield			0%

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Grants (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Options Outstanding (in shares)	100,000	1,500
RSUs Outstanding (in shares)	4,913,339
Options and RSUs Exercised (in shares)	4,560,799
Available Shares (in shares)	14,975,862
Total (in shares)	24,550,000

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity (Details)	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Options
Outstanding, beginning of year (in shares) | shares	1,500
Stock options granted (in shares) | shares	100,000
Stock options exercised (in shares) | shares	0
Stock options canceled (in shares) | shares	1,500
Outstanding, end of year (in shares) | shares	100,000
Exercisable, end of year (in shares) | shares	0
Weighted Average Exercise Price
Outstanding, beginning of year (in usd per share) | $ / shares	$ 0.56
Stock options granted (in usd per share) | $ / shares	0.52
Stock options exercised (in usd per share) | $ / shares	0
Stock options canceled (in usd per share) | $ / shares	0.56
Outstanding, end of year (in usd per share) | $ / shares	0.52
Exercisable, end of year (in usd per share) | $ / shares	$ 0

Stock-Based Compensation - Weig

Stock-Based Compensation - Weighted Average Assumptions (Details)	12 Months Ended
	Dec. 31, 2022 $ / shares
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Award/Strike Price (in usd per share)	$ 0.52
Dividend Yield	0%
Options
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Award/Strike Price (in usd per share)	$ 0.52
Market Price	$ 0.52
Volatility	107%
Dividend Yield	0%
Expected Life (in years)	5 years 6 months
Risk Free Rate	3%
RSUs
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Market Price	$ 0.41
Volatility	0%
Dividend Yield	0%
Expected Life (in years)	0 years
Risk Free Rate	0%

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Award Activity (Details)	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Restricted Stock Unit
Outstanding, end of year (in shares)	4,913,339
Restricted Stock Units
Restricted Stock Unit
Outstanding, beginning of year (in shares)	3,960,001
Granted (in shares)	2,960,000
Vested (in shares)	(1,826,661)
Forfeited (in shares)	(180,001)
Outstanding, end of year (in shares)	4,913,339
Weighted Average Fair Value
Outstanding, beginning of year (in usd per share) | $ / shares	$ 1.33
Granted (in usd per share) | $ / shares	0.41
Vested (in usd per share) | $ / shares	1.34
Forfeited (in usd per share) | $ / shares	0.95
Outstanding, end of year (in usd per share) | $ / shares	$ 0.79

Stockholders Equity (Details)

Stockholders Equity (Details)				12 Months Ended
	Sep. 17, 2021 USD ($) $ / shares shares	Jan. 22, 2021 USD ($)	Jan. 19, 2021 USD ($)	Dec. 31, 2022 USD ($)	Aug. 31, 2022 shares
Class of Warrant or Right [Line Items]
Consideration received on transaction		$ 6,250,000	$ 8,000,000
Referral agreement, term	5 years
Class of warrant or right, granted in period | shares	300,000
Warrants and rights outstanding	$ 149,551
Warrants and rights outstanding, term	7 years
Warrants vested | shares					85,862
Fair value adjustment of warrants				$ 33,000
Measurement Input, Implied Volatility
Class of Warrant or Right [Line Items]
Warrants and rights outstanding, measurement input	1
Measurement Input, Risk-free Yield
Class of Warrant or Right [Line Items]
Warrants and rights outstanding, measurement input	0.0117
Measurement Input, Share Price
Class of Warrant or Right [Line Items]
Warrants and rights outstanding, measurement input | $ / shares	0.71
Maximum
Class of Warrant or Right [Line Items]
Referral agreement, term	5 years

Retirement Plan Costs (Details)

Retirement Plan Costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Maximum annual contribution per employee, percent	4%
Employer matching contribution amount	$ 292,825	$ 260,540

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Right of use assets - operating lease	$ 310,162	$ 641,306
Right of use assets - finance lease	168,750	201,902
Finance lease right-of-use asset, amortization	$ 103,926	$ 322,747
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	2 years
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	4 years

Leases - Operating Leases (Deta

Leases - Operating Leases (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)
Leases [Abstract]
Cash paid for operating lease liabilities	$ 427,565
Weighted-average remaining lease term	2 years 11 months 19 days
Weighted-average discount rate	6.25%
Minimum future lease payments ended December 31, 2022
2023	$ 303,172
2024	16,236
2025	5,251
2026	1,590
Payments due	326,249
Less imputed interest	(14,848)
Total lease liabilities	$ 311,401

Leases - Finance Leases (Detail

Leases - Finance Leases (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)
Leases [Abstract]
Cash paid for finance lease liabilities	$ 146,586
Weighted-average remaining lease term	2 years
Weighted-average discount rate	6.25%
Minimum future lease payments ended December 31, 2022
2023	$ 105,655
2024	56,180
2025	18,491
Payments due	180,326
Less imputed interest	(8,726)
Total lease liabilities	$ 171,600

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Related Party Transactions [Abstract]
Marketable securities, related party	$ 2,189,590	$ 2,787,491
Revenue received from related party	18,300,000	$ 5,700,000
Accounts receivable, related parties	$ 6,700,000

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event - Mitsubishi HC Capital America, Inc. $ in Thousands	Mar. 01, 2023 USD ($)
Subsequent Event [Line Items]
Amendment fee	$ 10
Annual commitment fee amount	$ 10
Quarterly service fee	0.20%
Before February 28, 2024
Subsequent Event [Line Items]
Exit fee	$ 50
After February 28, 2024 but before February 28, 2025
Subsequent Event [Line Items]
Exit fee	25
Loan And Security Credit Agreement
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	$ 5,000
Percentage of aggregate Eligible Accounts Receivable	80%
Monthly interest rate in excess of Wall Street Journal Prime Rate	1.75%
Debt instrument, default interest rate	0.06
Maximum | Loan And Security Credit Agreement
Subsequent Event [Line Items]
Percentage of aggregate Eligible Accounts Receivable	85%