SECTIONS

ITEMS

# OF SLIDES

Board Business

• Call to order
• Approve Agenda
• Approve Prior Minutes

1

Annual Goals

• Measurable metrics
• Commentary

1

Sales & Marketing

• Pipeline & Bookings key metrics

1

Month to Date Financials

• Actual, Budget, & Prior Month
• Act vs Budget & Act vs Prior Month
• Commentary

1

Year to Date Financials

• Actual, Budget
• Act vs Budget
• Commentary

1

Product & Operations

• Key milestones & roadmap updates

1

Addendum

• P&L
• 2023 Plans (One-Year Picture)
• Budget Overview
• Balance sheet
• Cash Flow
• Revenue detail
• Expense by Department
• Organizational Chart
• Important Links

9

Board Calendar

• Quarterly Board Meetings
• Monthly Report Calls

2

Jan-2023

Feb-2023

Feb-2023

$ Comp to Prior Month

% Comp to Prior Month

$ Comp to Budget

% Comp to Budget

​

Actual ($)

Actual ($)

Budget ($)

Recurring Revenue

398,286

389,129

415,114

(9,157)

(2 %)

(25,985)

(6 %)

Other

(1,432)

(4,657)

0

(3,225)

(225 %)

(4,657)

-

Non-Recurring Revenue

3,942

15,484

6,750

11,542

293 %

8,734

129 %

Total Revenue

400,797

399,956

421,864

(840)

-

(21,908)

(5 %)

Cost of Revenue/COGS

131,058

120,368

123,696

(10,690)

(8 %)

(3,328)

(3 %)

Total Cost Of Revenue

131,058

120,368

123,696

(10,690)

(8 %)

(3,328)

(3 %)

Gross Profit

269,739

279,588

298,168

9,849

4 %

(18,580)

(6 %)

GM %

67.3 %

69.9 %

70.7 %

General & Admin

126,760

61,908

137,891

(64,852)

(51 %)

(75,983)

(55 %)

Research & Development

133,166

131,387

156,142

(1,779)

(1 %)

(24,755)

(16 %)

Sales & Marketing

117,843

111,498

119,074

(6,345)

(5 %)

(7,576)

(6 %)

Total Operating Expenses

377,769

304,793

413,107

(72,975)

(19 %)

(108,314)

(26 %)

EBITDA

(108,030)

(25,205)

(114,940)

82,825

77 %

89,734

78 %

Int/Tax/Depr/Others

59,051

65,159

87,426

6,108

10 %

(22,267)

(25 %)

Net Income

(167,082)

(90,365)

(202,365)

76,717

46 %

112,001

55 %

Net Income (%)

(41.7 %)

(22.6 %)

(48.0 %)

​

​

​

Month To Date

Month To Date

YTD

Year Ending

Year Ending

$

%

Jan-23

Feb-23

Dec-23

Dec-23

Variance

Var

Actual

Actual

Actual

Budget

Forecast

Budget

Revenue

Recurring Revenue

Maintenance & Support

150

147

297

315

1,923

1,941

(18)

-1%

Hosting

259

239

498

513

3,151

3,166

(15)

0%

3rd Party License

3

3

6

0

6

0

6

0%

Other Recurring Revenue

Recurring Revenue - Accruals

(14)

0

(14)

0

(14)

0

(14)

0%

Total Other Recurring Revenue

(14)

0

(14)

0

(14)

0

(14)

0%

Intercompany Revenue

Intercompany Revenue

(7)

(7)

(14)

0

(13)

0

(13)

0%

Total Intercompany Revenue

(7)

(7)

(14)

0

(13)

0

(13)

0%

Total Recurring Revenue

391

382

773

828

5,053

5,107

(54)

-1%

Non-Recurring Revenue

Perpetual Licenses

6

0

6

0

5

0

5

0%

Implementation Services

1

1

2

6

32

36

(4)

-11%

3rd Party Setup & Services

4

4

8

8

46

45

1

2%

Other Non-Recurring Revenue

(1)

13

12

0

11

0

11

0%

Total Non-Recurring Revenue

10

18

28

14

94

81

13

16%

Total Actual/Forecast Revenue

401

400

801

842

5,147

5,188

AOP Revenue

420

422

842

Variance to plan

(19)

(22)

(41)

Actual

Forecast

Forecast

Forecast

Amounts in $

YEDec-22

YEDec-23

YEDec-24

YEDec-25

Recurring

5,217,823

5,106,841

5,737,870

7,078,475

Non-Recurring

(84,440)

81,000

261,000

261,000

Others

40,288

-

-

-

Total Revenue

5,173,670

5,187,841

5,998,870

7,339,475

Cost of Revenue

2,245,003

1,497,332

1,538,883

1,597,735

Gross Margin

2,928,667

3,690,509

4,459,986

5,741,739

GM %

57%

71%

74%

78%

-

-

-

-

General & Administration

2,231,993

1,910,487

1,985,460

2,054,265

Research & Development

1,734,597

1,915,739

1,984,197

2,055,260

Sales & Marketing

1,473,238

1,315,572

1,350,055

1,397,219

Total OPEX

5,439,829

5,141,799

5,319,712

5,506,745

EBITDA

(2,511,161)

(1,451,290)

(859,726)

234,994

Int/Taxes/Depr/Other

975,241

1,206,256

1,441,503

1,440,892

-

-

-

-

Net Income (After Tax)

(3,486,402)

(2,657,546)

(2,301,229)

(1,205,898)

​

​

​

​

​

​

​

​

​

​

Total Draw on LOC

(Capacity $2.5M)

660,000

1,350,000

​

​

Mar-2022

Apr-2022

May-2022

Jun-2022

Jul-2022

Aug-2022

Sep-2022

Oct-2022

Nov-2022

Dec-2022

Jan-2023

Feb-2023

Actual ($)

Actual ($)

Actual ($)

Actual ($)

Actual ($)

Actual ($)

Actual ($)

Actual ($)

Actual ($)

Actual ($)

Actual ($)

Actual ($)

Cash and Cash Equivalents

1,575,798

962,112

550,219

511,773

173,719

170,328

215,209

85,694

189,909

220,590

214,919

247,558

Accounts Receivable, Net

504,937

772,570

768,205

454,582

783,051

750,071

707,943

770,993

793,635

597,427

534,498

479,997

Other Current Assets

209,272

277,832

261,783

258,466

183,328

167,240

171,568

174,779

165,497

202,554

205,799

187,274

Intercompany Receivable

613,872

82,582

93,185

98,487

93,185

102,135

93,185

119,694

67,916

67,916

73,349

74,643

Total Current Assets

2,903,879

2,095,096

1,673,392

1,323,308

1,233,284

1,189,773

1,187,904

1,151,160

1,216,957

1,088,487

1,028,565

989,473

Fixed Assets

136,677

136,677

136,677

0

0

0

8

8

0

0

0

0

Accumulated Depreciation

(121,622)

(121,989)

(122,356)

0

0

0

0

0

0

0

0

0

Total Fixed Assets, Net

15,055

14,688

14,321

0

0

0

8

8

0

0

0

0

Intangible Assets

10,443,899

10,472,245

10,530,509

10,586,569

10,618,845

10,648,337

10,681,195

10,710,021

10,741,467

10,762,914

10,795,793

10,824,247

Goodwill

2,822,296

2,822,296

2,822,296

2,822,296

2,822,296

2,822,296

2,822,296

2,822,296

2,822,296

2,822,296

2,822,296

2,822,296

Accumulated Amortization

(6,330,024)

(6,411,024)

(6,492,025)

(6,573,123)

(6,654,223)

(6,735,323)

(6,818,131)

(6,901,012)

(6,989,069)

(7,073,147)

(7,139,888)

(7,207,629)

Total Intangible Assets, Net

6,936,171

6,883,516

6,860,780

6,835,742

6,786,917

6,735,310

6,685,360

6,631,304

6,574,693

6,512,063

6,478,201

6,438,914

Total Assets

9,855,105

8,993,300

8,548,493

8,159,050

8,020,201

7,925,082

7,873,272

7,782,472

7,791,651

7,600,549

7,506,766

7,428,387

Accounts Payable

295,725

248,399

236,900

374,824

256,068

374,461

297,858

282,165

205,720

101,374

111,394

179,604

Other Current Liabilities

352,651

431,444

538,039

582,281

558,564

570,016

632,097

652,341

749,773

722,893

782,712

830,636

Deferred Revenue

720,815

653,339

556,652

441,596

730,487

673,035

733,906

752,897

771,313

761,566

788,795

733,531

Intercompany Payable

54,828

55,234

76,899

88,004

121,659

121,659

152,636

145,385

145,385

142,796

110,755

76,760

Total Current Liabilities

1,424,019

1,388,416

1,408,489

1,486,705

1,666,780

1,739,172

1,816,497

1,832,788

1,872,190

1,728,629

1,793,656

1,820,531

Other Current Liabilities

0

0

0

0

0

0

681

2,923

6,707

10,874

15,919

21,973

Loans

0

0

0

0

0

0

120,000

335,000

570,000

660,000

660,000

660,000

Total Long-Term Liabilities

0

0

0

0

0

0

120,681

337,923

576,707

670,874

675,919

681,973

Deferred Revenue

0

0

0

48,901

0

0

1,081

0

0

53

0

0

Total Other Liabilities

0

0

0

48,901

0

0

1,081

0

0

53

0

0

Total Liabilities

1,424,019

1,388,416

1,408,489

1,535,606

1,666,780

1,739,172

1,938,259

2,170,712

2,448,897

2,399,557

2,469,575

2,502,504

Retained Earnings

5,320,240

5,320,240

5,320,240

5,320,240

5,320,240

5,320,240

5,320,240

5,320,240

5,320,240

5,320,240

561,259

561,259

Common Stock

5,378,431

4,846,083

4,806,623

4,786,431

4,766,006

4,745,761

4,723,465

4,704,379

4,684,122

4,639,734

4,643,013

4,622,070

Net Income

(2,267,585)

(2,561,439)

(2,986,858)

(3,483,227)

(3,732,825)

(3,880,090)

(4,108,691)

(4,412,858)

(4,661,608)

(4,758,980)

(167,082)

(257,446)

Total Stockholder's Equity

8,431,086

7,604,884

7,140,004

6,623,444

6,353,421

6,185,911

5,935,013

5,611,761

5,342,754

5,200,993

5,037,191

4,925,883

Total Liabilities and Equity

9,855,105

8,993,300

8,548,493

8,159,050

8,020,201

7,925,082

7,873,272

7,782,472

7,791,651

7,600,549

7,506,766

7,428,387

Month ending as of

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

Jan-23

Feb-23

Mar-23

Apr-23

May-23

Jun-23

Description

Actuals

Actuals

Actuals

Actuals

Actuals

Actuals

Actuals

Actuals

Forecast

Forecast

Forecast

Forecast

Cash on Hand at beginning of the Month

511,773

173,719

170,328

215,209

85,694

185,784

220,590

214,919

247,558

177,107

(77,603)

(529,913)

​

​

​

​

​

​

​

​

​

​

​

​

Operating Cash

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Collections AR

348,935

468,836

544,710

272,347

480,304

488,223

525,651

476,161

515,592

349,360

116,576

308,119

Cash Refundable

(5,543)

-

(6,671)

-

(17,814)

-

(7,816)

(13,451)

-

-

-

-

Credit Memos

-

-

-

-

-

-

-

-

(12,962)

(4,321)

-

-

Debt/Investments

-

-

120,000

215,000

235,000

90,000

-

-

-

-

-

-

Other inflows

-

-

-

-

-

-

-

-

-

-

-

-

Equity Capital

-

-

-

-

-

-

-

-

-

-

-

-

Total Receipts

343,392

468,836

658,039

487,347

697,490

578,223

517,835

462,710

502,629

345,039

116,576

308,119

​

​

​

​

​

​

​

​

​

​

​

​

General vendor payables

233,309

44,987

193,106

147,023

231,243

111,418

115,144

34,330

118,150

172,139

133,175

118,883

Contractor

42,996

42,738

48,658

33,021

19,331

33,336

19,958

15,389

39,286

25,425

25,425

25,425

Payroll

338,584

363,287

309,277

317,479

314,010

295,102

324,363

315,520

333,254

331,986

331,986

331,986

Card expenses

17,709

8,743

10,755

9,412

12,895

15,464

16,778

12,847

7,828

13,600

13,600

13,600

Rent

5,685

8,538

5,368

28,528

317

-

-

-

-

-

-

-

Taxes

1

-

16,090

15,747

4,577

4,685

7,792

5,996

10,000

10,000

40,000

20,000

Bank Charges

927

745

922

868

757

896

762

843

800

800

800

800

Interest

-

-

-

-

-

-

-

-

-

-

-

-

Others

-

-

-

-

-

-

-

-

-

-

-

-

Capex

42,235

37,589

3,535

38,735

3,535

119,735

23,935

3,535

25,400

45,800

23,900

23,900

Inter Company settlement

-

(34,399)

25,449

26,050

10,734

(37,220)

14,773

41,610

38,363

-

-

-

Total Disbursements

681,446

472,227

613,158

616,862

597,399

543,417

523,506

430,071

573,080

599,750

568,886

534,594

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total Inter Bank Transactions

(0)

0

(0)

(0)

(0)

0

(0)

(0)

-

-

-

-

​

​

​

​

​

​

​

​

​

​

​

​

Net change in Cash

(338,054)

(3,391)

44,881

(129,515)

100,091

34,806

(5,671)

32,639

(70,450)

(254,710)

(452,310)

(226,476)

​

​

​

​

​

​

​

​

​

​

​

​

Ending Cash Balance - Bank

173,719

170,328

215,209

85,694

185,784

220,590

214,919

247,558

177,107

(77,603)

(529,913)

(756,389)

Jan-23

Feb-23

Feb-23

YTD

YTD

Variance to budget

% Variance to budget

Actual

Actual

Budget

Forecast

Budget

Bookings ($ACV)

43

25

​

​

​

​

​

Revenue

401

400

422

5,147

5,188

(41)

-1%

Cost of Sales

155

145

125

1,548

1,497

51

3%

Total Gross Profit

246

255

297

3,599

3,691

(92)

-2%

Gross Margin %

61 %

64 %

70 %

64

71 %

​

Operating Expense

378

305

426

4,972

5,142

(170)

-3%

Total EBITDA

(132)

(50)

(129)

(1,372)

(1,451)

79

-5%

Capitalized software

33

28

0

61

0

Total EBIDTA less Capitalized software

(165)

(78)

(129)

(1,433)

(1,451)

18

-1%

Net Income

(167)

(90)

(217)

(2,482)

(2,658)

176

-7%

Result

Result

Comparison

Variance to

Prior Month

Variance �to Budget

Jan-2023

Feb-2023

Feb-2023

$

%

$

%

Actual ($)

Actual ($)

Budget ($)

Salaries and Benefits

318,481

313,989

336,048

(4,492)

(1 %)

(22,058)

(7 %)

Contractors/Consultants

55,524

55,186

61,865

(338)

(1 %)

(6,678)

(11 %)

Travel and Entertainment

917

2,290

8,508

1,373

150 %

(6,217)

(73 %)

Legal/Acctg/Prof Services

36,003

37,753

42,790

1,750

5 %

(5,037)

(12 %)

IT/Systems

75,064

60,135

67,052

(14,929)

(20 %)

(6,917)

(10 %)

Marketing

2,451

2,735

6,049

284

12 %

(3,314)

(55 %)

Materials & Transaction Cost

341

341

506

0

-

(165)

(33 %)

Administration/Other

20,045

(47,268)

13,986

(67,313)

(336 %)

(61,254)

(438 %)

Total Expense

508,827

425,162

536,803

(83,665)

(16 %)

(111,642)

(21 %)

​

​

​

​

​

​

​

​

Date

Time

January 15, 2023

10:00 - 11:00 AM CT

February 15, 2023

10:00 - 11:00 AM CT

March 15, 2023

10:00 - 11:00 AM CT

April 15, 2023

10:00 - 11:00 AM CT

May 15, 2023

10:00 - 11:00 AM CT

June 15, 2023

10:00 - 11:00 AM CT

July 15, 2023

10:00 - 11:00 AM CT

August 15, 2023

10:00 - 11:00 AM CT

September 15, 2023

10:00 - 11:00 AM CT

October 15, 2023

10:00 - 11:00 AM CT

November 15, 2023

10:00 - 11:00 AM CT

December 15, 2023

10:00 - 11:00 AM CT