v3.25.1

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash	$ 1,072,416	$ 106,654
Accounts receivable, net	175,233	372,716
Prepaid expenses and other assets	66,825	24,008
Total current assets	1,314,474	503,378
Goodwill	5,842,433	5,842,433
Total assets	7,156,907	6,345,811
Current liabilities:
Accounts payable and accrued liabilities	941,499	1,237,637
Accounts payable and accrued liabilities - related party	149,838	149,838
Shareholder advance	67,622	67,622
Deferred revenue	332,833	354,083
Convertible loans payable, net of discounts – current portion	51,334
Loans payable	12,752	27,369
Total current liabilities	1,555,878	1,836,549
Long-term liabilities:
Convertible loans payable, net of discounts	7,037	19,660
Total long-term liabilities	7,037	19,660
Total liabilities	1,562,915	1,856,209
Commitments and contingencies (Note 6)
Stockholders’ equity:
Series A Convertible Preferred stock, $0.001 par value; 900,000 shares authorized; 39,810 shares issued and outstanding at March 31, 2025 and December 31, 2024	40	40
Common stock, $0.001 par value; 45,000,000 shares authorized; 2,105,755 and 1,859,525 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively	2,105	1,859
Additional paid-in capital	37,044,216	35,463,769
Accumulated deficit	(31,452,369)	(30,976,066)
Total stockholders’ equity	5,593,992	4,489,602
Total liabilities and stockholders’ equity	$ 7,156,907	$ 6,345,811

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

SCWorx Corp. 10-Q