Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.23.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 789,930 $ 453,939
Investment in securities, at fair value 1,009
Accounts receivable, net 633,778 706,418
Other receivable 230,322 33,222
Net finance leases receivable, current portion 76,727
Convertible notes receivable, current portion 58,491
Prepaid expenses and other current assets 66,000 18,034
Total current assets 1,720,030 1,347,840
Property and equipment    
Property and equipment 355,725 299,526
Accumulated depreciation and amortization (208,847) (144,480)
Property and equipment, net 146,878 155,046
Other assets    
Operating lease right-of-use assets 370,164 41,128
Finance lease right-of-use assets 895,323 645,611
Investment in account receivable, net of discount and current portion 315,309 301,433
Net finance leases receivable, net of current portion 229,923
Convertible notes receivable, net of current portion 27,834
Contractual interests in legal recoveries 396,666
Deposits 25,575 9,575
Long term investments 94,431 205,203
Goodwill 1,426,182 1,426,182
Total other assets 3,126,984 3,283,555
Total assets 4,993,892 4,786,441
Current liabilities    
Accounts payable 32,092 41,278
Accrued expenses 658,743 411,860
Related party payable 232,244
Deferred revenue 16,308
Economic injury disaster loan – current portion 3,191
Finance lease liability - current portion 232,058 167,515
Operating lease liability - current portion 62,861 42,058
Current portion of long-term debt 29,011 23,203
Total current liabilities 1,017,956 934,466
Long-term liabilities    
Accrued salary, retirement, and incentive fee - related party 1,153,948 1,127,865
Economic injury disaster loan 157,869 158,324
Finance lease liability, net of current portion 575,852 415,465
Operating lease liability, net of current portion 307,303 4,975
Long term debt, net of current portion 54,865 66,669
Total long-term liabilities 2,249,837 1,773,298
Total liabilities 3,267,793 2,707,764
Shareholders’ equity    
Preferred stock, $0.0001 and $0.0001 par value, 5,000,000 and 5,000,000 shares authorized; 11 and 11 series Q preferred shares issued and outstanding at December 31, 2022 and 2021 [1]
Common stock, $0.0001 and $0.0001 par value, 75,000,000 and 75,000,000 shares authorized; 22,941,357 and 22,850,947 shares issued and outstanding at December 31, 2022 and 2021 2,294 2,285
Additional paid in capital 13,085,993 13,071,655
Accumulated deficit (11,345,465) (10,874,079)
Non-controlling interest (16,723) (121,184)
Total shareholders’ equity 1,726,099 2,078,677
Total liabilities and shareholders’ equity $ 4,993,892 $ 4,786,441
[1] Par value is less than $0.01