Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash $ 20,762,084 $ 9,603,266
Restricted cash 2,210,902 2,000,119
Accounts receivable, net of allowance for doubtful accounts of $9,882 and $9,882 at December 31, 2020 and 2019, respectively 2,692,540 2,290,803
Prepaid expenses and other current assets 1,103,505 458,509
Total current assets 26,769,031 14,352,697
Property and equipment, net 992,374 1,213,026
Deposits 173,183 173,294
Total assets 27,934,588 15,739,017
Current liabilities:    
Note payable, current portion 2,893,667 2,893,667
Subordinated note payable, current portion 3,719,265
Accounts payable 258,916 640,896
Accrued expenses and other current liabilities 3,109,293 2,766,248
Deferred revenue 5,438,555 5,510,460
Customer deposits 1,052,900 1,052,900
Total current liabilities 16,472,596 12,864,171
Note payable, net of current portion 2,180,300  
Subordinated note payable, net of current portion 6,158,082 9,721,608
Deferred rent, net of current portion 20,877
Preferred stock warrant liability 4,391,372
Total liabilities 24,810,978 26,998,028
Commitments and contingencies (Note 10)
Convertible preferred stock 53,882,460
Stockholders’ equity (deficit):    
Preferred stock, $0.0001 par value ; 10,000,000 authorized, no shares issued and outstanding
Common stock, $0.0001 par value; 500,000,000 shares authorized; 26,859,850 and 833,505 shares issued and outstanding at December 31, 2020 and 2019, respectively 2,686 83
Additional paid-in capital 87,051,058 3,174,102
Accumulated deficit (83,877,972) (68,274,256)
Accumulated other comprehensive loss (52,162) (41,400)
Total stockholders’ equity (deficit) 3,123,610 (65,141,471)
Total liabilities, convertible preferred stock and stockholders’ equity (deficit) $ 27,934,588 $ 15,739,017