0001213900-20-035891 | 10-Q | XBRL Viewer

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 12,032,538	$ 18,852,680
Accounts receivable, net	13,332,552	7,418,025
Prepaid expenses	1,867,590	871,043
Total Current Assets	27,232,680	27,141,748
Property and equipment, net	151,809	176,014
Other Assets
Goodwill	14,740,031	14,740,031
Technology assets, net	5,464,916	6,238,453
Patent rights, net	2,388,320	2,550,587
Other intangible assets, net	4,677,439	5,151,102
Right of use assets, net	474,906	559,863
Other assets and deposits	16,013	80,727
Total Other Assets	27,761,625	29,320,763
TOTAL ASSETS	55,146,114	56,638,525
Current Liabilities
Accounts payable – trade	480,502	492,995
Accrued expenses	1,794,019	1,800,635
Revenue share payable	3,642,088	1,618,438
Current portion of lease obligations	121,583	115.431
Current portion of contingent purchase price payable	1,610,813	1,500,000
Deferred revenue	461,277	580,014
Total Current Liabilities	8,110,282	6,107,513
Non-current Liabilities
Lease obligations, net of current portion	356,618	448,753
Contingent purchase price payable, net of current portion		5,220,000
Total Non-current Liabilities	356,618	5,668,753
Total Liabilities	8,466,900	11,776,266
Commitments and contingencies (See Note 8)
Stockholders’ Equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no issued and outstanding at September 30, 2020 or December 31, 2019
Common stock, $0.001 par value, 500,000,000 shares authorized, 15,072,226 and 14,600,579 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	15,072	14,601
Additional paid-in-capital	83,653,045	78,272,268
Accumulated deficit	(36,988,903)	(33,424,610)
Total Stockholders’ Equity	46,679,214	44,862,259
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 55,146,114	$ 56,638,525

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock	Additional Paid in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2018	$ 12,039	$ 48,725,211	$ (30,278,805)	$ 18,458,445
Balance (in Shares) at Dec. 31, 2018	12,038,618
Cumulative effect of change in accounting principle related to lease accounting			(3,229)	(3,229)
Shares issued for previous year restricted stock awards	$ 130	(130)
Shares issued for previous year restricted stock awards (in Shares)	130,001
Shares issued for stock options exercised	$ 102	343,683		343,785
Shares issued for stock options exercised (in Shares)	101,878
Shares issued as board compensation	$ 8	106,026		106,034
Shares issued as board compensation (in Shares)	8,336
Stock-based compensation expense		530,312		530,312
Net income (loss)			6,529	6,529
Balance at Mar. 31, 2019	$ 12,279	49,705,102	(30,275,505)	19,441,876
Balance (in Shares) at Mar. 31, 2019	12,278,833
Balance at Dec. 31, 2018	$ 12,039	48,725,211	(30,278,805)	18,458,445
Balance (in Shares) at Dec. 31, 2018	12,038,618
Net income (loss)				(1,157,796)
Balance at Sep. 30, 2019	$ 14,174	72,561,045	(31,439,830)	41,135,389
Balance (in Shares) at Sep. 30, 2019	14,173,850
Balance at Mar. 31, 2019	$ 12,279	49,705,102	(30,275,505)	19,441,876
Balance (in Shares) at Mar. 31, 2019	12,278,833
Public offering of common shares for cash, net of offering costs	$ 1,769	21,302,057		21,303,826
Public offering of common shares for cash, net of offering costs (in Shares)	1,769,275
Shares issued for stock options exercised	$ 61	214,253		214,314
Shares issued for stock options exercised (in Shares)	60,295
Shares issued as board compensation	$ 8	135,035		135,043
Shares issued as board compensation (in Shares)	8,336
Stock-based compensation expense		408,087		408,087
Net income (loss)			406,617	406,617
Balance at Jun. 30, 2019	$ 14,117	71,764,534	(29,868,888)	41,909,763
Balance (in Shares) at Jun. 30, 2019	14,116,739
Shares issued for stock options exercised	$ 49	206,275		206,324
Shares issued for stock options exercised (in Shares)	48,775
Shares issued as board compensation	$ 8	120,697		120,705
Shares issued as board compensation (in Shares)	8,336
Stock-based compensation expense		469,539		469,539
Net income (loss)			(1,570,942)	(1,570,942)
Balance at Sep. 30, 2019	$ 14,174	72,561,045	(31,439,830)	41,135,389
Balance (in Shares) at Sep. 30, 2019	14,173,850
Balance at Dec. 31, 2019	$ 14,601	78,272,268	(33,424,610)	44,862,259
Balance (in Shares) at Dec. 31, 2019	14,600,579
Shares issued for stock options exercised	$ 35	112,117		112,152
Shares issued for stock options exercised (in Shares)	35,032
Shares issued as board compensation	$ 11	99,989		100,000
Shares issued as board compensation (in Shares)	11,136
Stock-based compensation expense		754,512		754,512
Net income (loss)			(2,203,931)	(2,203,931)
Balance at Mar. 31, 2020	$ 14,647	79,238,886	(35,628,541)	43,624,992
Balance (in Shares) at Mar. 31, 2020	14,646,747
Balance at Dec. 31, 2019	$ 14,601	78,272,268	(33,424,610)	44,862,259
Balance (in Shares) at Dec. 31, 2019	14,600,579
Net income (loss)				(3,564,293)
Balance at Sep. 30, 2020	$ 15,072	83,653,045	(36,988,903)	46,679,214
Balance (in Shares) at Sep. 30, 2020	15,072,226
Balance at Mar. 31, 2020	$ 14,647	79,238,886	(35,628,541)	43,624,992
Balance (in Shares) at Mar. 31, 2020	14,646,747
Shares issued for stock options exercised	$ 56	174,775		174,831
Shares issued for stock options exercised (in Shares)	55,731
Shares issued as board compensation	$ 8	100,019		100,027
Shares issued as board compensation (in Shares)	7,748
Stock-based compensation expense	$ 42	680,602		680,644
Stock-based compensation expense	42,374
Net income (loss)			(1,077,468)	(1,077,468)
Balance at Jun. 30, 2020	$ 14,753	80,194,282	(36,706,009)	43,503,026
Balance (in Shares) at Jun. 30, 2020	14,752,600
Shares issued for stock options exercised	$ 198	1,044,899		1,045,097
Shares issued for stock options exercised (in Shares)	198,024
Shares issued as board compensation	$ 6	124,978		124,984
Shares issued as board compensation (in Shares)	5,915
Stock-based compensation expense	$ 21	631,432		631,453
Stock-based compensation expense	21,186
Shares issued for contingent purchase price and escrow hold back	$ 94	1,657,454		1,657,548
Shares issued for contingent purchase price and escrow hold back (in Shares)	94,501
Net income (loss)			(282,894)	(282,894)
Balance at Sep. 30, 2020	$ 15,072	$ 83,653,045	$ (36,988,903)	$ 46,679,214
Balance (in Shares) at Sep. 30, 2020	15,072,226

New Accounting Standards

9 Months Ended

Sep. 30, 2020

Accounting Changes and Error Corrections [Abstract]

NEW ACCOUNTING STANDARDS

NOTE 2 – NEW ACCOUNTING STANDARDS

Recently adopted

In June 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 provides for a new impairment model that requires measurement and recognition of expected credit losses for most financial assets and certain other instruments, including but not limited to accounts receivable and available for sale debt securities. ASU 2016-13 was effective for the Company on January 1, 2020. The adoption of this standard did not have a material effect on our financial position, results of operations, or cash flows.

In August 2019, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. ASU 2018-13 modifies the disclosure requirements on fair value measurements and became effective for the Company on January 1, 2020. The adoption of this standard did not have a material effect on our financial position, results of operations, or cash flows.

In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. ASU 2017-04 simplifies the subsequent measurement of goodwill by eliminating the second step of the goodwill impairment test. The second step measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. Under ASU 2017-04, a company will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. ASU 2017-04 will be applied prospectively and is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of this standard did not have a material effect on our financial position, results of operations, or cash flows.

Not yet Adopted

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. ASU 2019-12 is intended to improve consistent application and simplify the accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance. ASU 2019-12 is effective for annual and interim reporting periods beginning after December 15, 2020, with early adoption permitted. The adoption of this standard is not expected to have a material effect on our financial position, results of operations, or cash flows.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Subsequent Events

9 Months Ended

Sep. 30, 2020

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 9 – SUBSEQUENT EVENTS

In October 2020, we received proceeds of $201,855 and issued 36,420 shares of common stock in conjunction with the exercise of stock options.

In accordance with ASC 855-10, we have analyzed events and transactions that occurred subsequent to September 30, 2020 through the date these financial statements were issued and have determined that we do not have any other material subsequent events to disclose or recognize in these financial statements.

Earnings (Loss) Per Share (Details) - shares	3 Months Ended		9 Months Ended
Earnings (Loss) Per Share (Details) - shares	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net Income (Loss) per Share (Textual)
Diluted loss per common share	1,095,270	1,039,598	913,516	955,740
Options [Member]
Net Income (Loss) per Share (Textual)
Diluted loss per common share	984,084
Restricted Stock [Member]
Net Income (Loss) per Share (Textual)
Diluted loss per common share			802,330
Restricted Stock [Member]
Net Income (Loss) per Share (Textual)
Diluted loss per common share	111,186		111,186

Stock Based Compensation (Details) - USD ($)	3 Months Ended	9 Months Ended
Stock Based Compensation (Details) - USD ($)	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Stock Based Compensation (Details) (Textual)
Remaining expense related to unvested options		$ 1,603,417
Weighted average contractual life		1 year 255 days
Intrinsic value of outstanding options		$ 22,611,933
Restricted stock awards (in Shares)	130,001	63,560
Stock-based incentive compensation plan [Member]
Stock Based Compensation (Details) (Textual)
Stock compensation recognized expense		$ 1,447,826	$ 1,329,713
Restricted Stock [Member]
Stock Based Compensation (Details) (Textual)
Stock compensation recognized expense		618,783	$ 78,225
Remaining expense related to unvested options		$ 832,473
Restricted Stock Awards (in Shares)		111,186
Restricted stock awards (in Shares)		63,560

Leases (Details) - USD ($)	3 Months Ended		9 Months Ended
Leases (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases Details (Textual)
Weighted average remaining lease term	4 years 6 months		4 years 6 months
Weighted average discount rate	4.50%		4.50%
Cash paid	$ 33,919	$ 29,930	$ 105,267	$ 94,105
Payments on lease obligations	28,482	27,134	87,599	79,071
Amortization on right of use assets	$ 28,600	$ 27,430	$ 84,957	$ 80,022

Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

NOTE 7 – EARNINGS (LOSS) PER SHARE

The following table sets forth the computation of basic and diluted loss per share.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Numerator
Net loss	$	(282,894	)	$	(1,570,942	)	$	(3,564,293	)	$	(1,157,796	)

Denominator
Weighted average shares outstanding used in computing earnings per share
Basic		14,900,971			14,146,489			14,726,534			12,996,590
Diluted		14,900,971			14,146,489			14,726,534			12,996,590

Loss per share
Basic	$	(0.02	)	$	(0.11	)	$	(0.24	)	$	(0.09	)
Diluted	$	(0.02	)	$	(0.11	)	$	(0.24	)	$	(0.09	)

No calculation of diluted earnings per share is included as the effect of the calculation would be antidilutive. The number of common shares potentially issuable upon the exercise of certain options that were excluded from the diluted loss per common share calculation was 984,084 and 802,330 shares in the three and nine months ended September 30, 2020, respectively, related to options, and 111,186 shares related to restricted stock for the three and nine months ended September 30, 2020. This results in total shares excluded from the calculation of 1,095,270 and 913,516 for the three and nine months ended September 30, 2020, respectively. Total shares excluded from the calculation were 1,039,598 and 955,740 for the three and nine months ended September 30, 2019.

Contingent Purchase Price Payable (Details) - USD ($)	3 Months Ended	9 Months Ended
Contingent Purchase Price Payable (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Contingent Purchase Price Payable (Details) [Line Items]
Maximum payment		$ 3,000,000
Contingent payment paid, description		A total of $1,389,187 has been paid so far in 2020 and the remaining balance of $1,610,813 is payable in early 2021 and is reflected as a short-term liability on the consolidated balance sheet.
Contingent purchase price payable			$ 5,220,000	$ 3,720,000
Total contingent payment in cash		$ 3,000,000
Contingent payment in common stock		750,000
Fair value of the contingent payment	$ 140,390	$ 140,390
Estimate of contingent payment, description		The first is the $30,000 recorded as of June 30, 2020 to adjust the initial estimate of $3.72 million to $3.75 million.
Deferred payment in accrued expenses		$ 800,000
RMDY Health shareholders [Member]
Contingent Purchase Price Payable (Details) [Line Items]
Maximum payment		30,000,000
Minimum payment		$ 2,000,000
Payment of shareholder liability	$ 3,750,000

Contingencies

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

CONTINGENCIES

NOTE 8 – CONTINGENCIES

Litigation

The Company is not currently involved in any legal proceedings

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2020	Nov. 05, 2020
Document Information Line Items
Entity Registrant Name	OptimizeRx Corp
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		15,108,646
Amendment Flag	false
Entity Central Index Key	0001448431
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	001-38543
Entity Incorporation, State or Country Code	NV
Entity Interactive Data Current	Yes

Leases (Details) - Schedule of future minimum lease payments

Sep. 30, 2020

USD ($)

Schedule of future minimum lease payments [Abstract]

2020

$ 34,636

^[1]

140,367

102,367

99,209

80,375

70,224

527,177

Less: imputed interest

48,977

Total lease liabilities

$ 478,200

[1]	For the three-month period beginning October 1, 2020.

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares outstanding	15,072,226	14,600,579
Common stock, shares issued	15,072,226	14,600,579

Nature of Business and Basis of Presentation

9 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

NATURE OF BUSINESS AND BASIS OF PRESENTATION

NOTE 1 – NATURE OF BUSINESS AND BASIS OF PRESENTATION

The accompanying condensed consolidated financial statements include OptimizeRx Corporation and its wholly owned subsidiaries (collectively, the “Company”, “we”, “our”, or “us”).

We are a digital health company that provides communications solutions for life science companies, physicians and patients. Connecting over half of healthcare providers in the U.S. and millions of patients through a proprietary network, the OptimizeRx digital health platform helps patients afford and stay on medications. The platform unlocks new patient and physician touchpoints for life science companies along the patient journey, from point-of-care, to retail pharmacy, through mobile patient engagement.

The condensed consolidated financial statements for the three and nine months ended September 30, 2020 and 2019 are unaudited and have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments necessary to present fairly our consolidated financial position as of September 30, 2020, and our results of operations, changes in stockholders’ equity for the three and nine months ended September 30, 2020 and 2019 and the statements of cash flows for the nine months ended September 30, 2020 and 2019 have been made. Those adjustments consist of normal and recurring adjustments. The condensed consolidated balance sheet as of December 31, 2019 has been derived from the audited consolidated balance sheet as of that date.

Certain information and note disclosures, including a detailed discussion about the Company’s significant accounting policies, normally included in our annual financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) have been condensed or omitted. These consolidated condensed financial statements should be read in conjunction with a reading of the financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as filed with the U.S. Securities and Exchange Commission on March 26, 2020.

We operate in one reportable segment. The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results to be expected for the full year. Certain reclassifications have been made in the prior period’s condensed consolidated financial statements to conform to the current period’s presentation.

Earnings (Loss) Per Share (Details) - Schedule of basic and diluted net income (loss) per share - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator
Net income (loss)	$ (282,894)	$ (1,077,468)	$ (2,203,931)	$ (1,570,942)	$ 406,617	$ 6,529	$ (3,564,293)	$ (1,157,796)
Weighted average shares outstanding used in computing earnings per share
Basic	14,900,971			14,146,489			14,726,534	12,996,590
Diluted	14,900,971			14,146,489			14,726,534	12,996,590
Loss per share
Basic	$ (0.02)			$ (0.11)			$ (0.24)	$ (0.09)
Diluted	$ (0.02)			$ (0.11)			$ (0.24)	$ (0.09)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Schedule of basic and diluted net income (loss) per share

	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Numerator
Net loss	$	(282,894	)	$	(1,570,942	)	$	(3,564,293	)	$	(1,157,796	)

Denominator
Weighted average shares outstanding used in computing earnings per share
Basic		14,900,971			14,146,489			14,726,534			12,996,590
Diluted		14,900,971			14,146,489			14,726,534			12,996,590

Loss per share
Basic	$	(0.02	)	$	(0.11	)	$	(0.24	)	$	(0.09	)
Diluted	$	(0.02	)	$	(0.11	)	$	(0.24	)	$	(0.09	)

Subsequent Events (Details) - Subsequent Event [Member]	1 Months Ended
Subsequent Events (Details) - Subsequent Event [Member]	Oct. 20, 2020 USD ($) shares
Subsequent Events (Details) (Textual)
Proceeds form net received \| $	$ 201,855
Common stock in conjunction with the exercise of stock options \| shares	36,420

Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases of Lessee Disclosure [Abstract]

Schedule of lease cost

	Three Months Ended September 30, 2020		Nine Months Ended September 30, 2020
Operating lease cost	$	32,814	$	98,441
Short-term lease cost (1)		36,002		116,817
Total lease cost	$	68,816	$	215,258

	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease cost	$	33,868	$	98,043
Short-term lease cost (1)		11,771		30,663
Total lease cost	$	45,639	$	128,706

(1)	Short-term lease cost includes any lease with a term of less than 12 months.

(1)	Short-term lease cost includes any lease with a term of less than 12 months.

Schedule of future minimum lease payments

As of September 30, 2020
2020 (a)	$	34,636
2021		140,367
2022		102,367
2023		99,209
2024		80,375
Thereafter		70,224
Total		527,177
Less: imputed interest		48,977
Total lease liabilities	$	478,200

(a)

For the three-month period beginning October 1, 2020.

Stockholders' Equity (Details) - USD ($)	3 Months Ended						9 Months Ended
Stockholders' Equity (Details) - USD ($)	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020
Stockholders' Equity (Textual)
Issued shares of common stock in connection with cashless exercise	198,024	55,731	35,032	48,775	60,295	101,878
Net proceeds issuance of common stock (in Dollars)	$ 1,045,097	$ 174,831	$ 112,152
Restricted stock awards						130,001	63,560
Shares of common, description		an underwritten primary offering, we issued 1,769,275 shares of our common stock for gross proceeds of $23,000,575. In connection with this transaction, we incurred equity issuance costs of $1,696,749 related to payments to the underwriter, advisors and legal fees associated with the transaction, resulting in net proceeds to our company of $21,303,826.
Independent Directors [Member]
Stockholders' Equity (Textual)
Issued shares of common stock in connection with cashless exercise			11,136
Net proceeds issuance of common stock (in Dollars)			$ 100,000	$ 206,324	$ 214,314	$ 343,785
Restricted stock awards				8,336	8,336	8,336
Independent Directors [Member] \| Board of Directors Chairman [Member]
Stockholders' Equity (Textual)
Issued shares of common stock in connection with cashless exercise		7,748
Net proceeds issuance of common stock (in Dollars)	$ 124,984	$ 100,027
Board of Directors Chairman [Member] \| Independent Directors [Member]
Stockholders' Equity (Textual)
Issued shares of common stock in connection with cashless exercise	5,915
Independent Director One [Member]
Stockholders' Equity (Textual)
Stock issued during period, value, stock options exercised (in Dollars)				$ 120,705	$ 135,043	$ 106,034

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
NET REVENUE	$ 10,519,191	$ 5,002,767	$ 26,887,022	$ 17,218,492
COST OF REVENUES	4,504,844	1,981,143	11,385,622	6,251,766
GROSS MARGIN	6,014,347	3,021,624	15,501,400	10,966,726
OPERATING EXPENSES	6,191,069	5,008,934	18,993,187	12,341,827
LOSS FROM OPERATIONS	(176,722)	(1,987,310)	(3,491,787)	(1,375,101)
OTHER INCOME (EXPENSE)
Interest income	4,218	136,368	67,884	192,305
Change in fair value of contingent consideration	(110,390)	280,000	(140,390)	25,000
TOTAL OTHER INCOME (EXPENSE)	(106,172)	416,368	(72,506)	217,305
LOSS BEFORE PROVISION FOR INCOME TAXES	(282,894)	(1,570,942)	(3,564,293)	(1,157,796)
PROVISION FOR INCOME TAXES
NET INCOME (LOSS)	$ (282,894)	$ (1,570,942)	$ (3,564,293)	$ (1,157,796)
WEIGHTED AVERGE SHARES OUTSTANDING
BASIC (in Shares)	14,900,971	14,146,489	14,726,534	12,996,590
DILUTED (in Shares)	14,900,971	14,146,489	14,726,534	12,996,590
EARNINGS (LOSS) PER SHARE
BASIC (in Dollars per share)	$ (0.02)	$ (0.11)	$ (0.24)	$ (0.09)
DILUTED (in Dollars per share)	$ (0.02)	$ (0.11)	$ (0.24)	$ (0.09)

Leases (Details) - Schedule of lease cost - USD ($)

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Schedule of lease cost [Abstract]

Operating lease cost

$ 32,814

$ 33,868

$ 98,441

$ 98,043

Short-term lease cost

^[1]

36,002

11,771

116,817

30,663

Total lease cost

$ 68,816

$ 45,639

$ 215,258

$ 128,706

[1]	Short-term lease cost includes any lease with a term of less than 12 months.

Leases

9 Months Ended

Sep. 30, 2020

Leases (Textual)

LEASES

NOTE 3 – LEASES

We have operating leases for office space in three multitenant facilities with lease terms greater than 12 months, which are recorded as assets and liabilities on our balance sheet. These leases include our corporate headquarters, located in Rochester, Michigan, a customer service facility in Cranbury, New Jersey, and a technical facility in Zagreb, Croatia. Certain leases contain renewal options and, for the headquarters lease, we have assumed renewal. Lease-related assets, or right-of-use assets, are recognized at the lease commencement date at amounts equal to the respective lease liabilities, adjusted for prepaid lease payments, initial direct costs, and lease incentives received. Lease-related liabilities are recognized at the present value of the remaining contractual fixed lease payments, discounted using our incremental borrowing rate. Amortization of the right of use assets is recognized as non-cash lease expense on a straight-line basis over the lease term, while variable lease payments are expensed as incurred. Short term lease costs include month to month leases in shared office space facilities, such as WeWork, or similar locations.

For the three and nine months ended September 30, 2020, the Company’s lease cost consisted of the following components, each of which is included in operating expenses within the Company’s condensed consolidated statements of operations:

	Three Months Ended September 30, 2020		Nine Months Ended September 30, 2020
Operating lease cost	$	32,814	$	98,441
Short-term lease cost (1)		36,002		116,817
Total lease cost	$	68,816	$	215,258

(1)	Short-term lease cost includes any lease with a term of less than 12 months.

For the three and nine months ended September 30, 2019, the Company’s lease cost consisted of the following components, each of which is included in operating expenses within the Company’s condensed consolidated statements of operations:

	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease cost	$	33,868	$	98,043
Short-term lease cost (1)		11,771		30,663
Total lease cost	$	45,639	$	128,706

(1)	Short-term lease cost includes any lease with a term of less than 12 months.

The table below presents the future minimum lease payments to be made under operating leases as of September 30, 2020:

As of September 30, 2020
2020 (a)	$	34,636
2021		140,367
2022		102,367
2023		99,209
2024		80,375
Thereafter		70,224
Total		527,177
Less: imputed interest		48,977
Total lease liabilities	$	478,200

(a)

For the three-month period beginning October 1, 2020.

The weighted average remaining lease term at September 30, 2020 for operating leases is 4.5 years and the weighted average discount rate used in calculating the operating lease asset and liability is 4.5%. Cash paid for amounts included in the measurement of lease liabilities was $105,267 and $94,105 for the nine months ended September 30, 2020 and 2019, respectively. Cash paid for amounts included in the measurement of lease liabilities was $33,919 and $29,930 for the three months ended September 30, 2020 and 2019, respectively. For the three months ended September 30, 2020 and 2019, payments on lease obligations were $28,482 and $27,134, respectively, and amortization on the right of use assets was $28,600 and $27,430, respectively. For the nine months ended September 30, 2020 and 2019, payments on lease obligations were $87,599 and $79,071, respectively, and amortization on the right of use assets was $84,957 and $80,022, respectively.

Stockholders' Equity

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 5 – STOCKHOLDERS’ EQUITY

During the quarters ended September, 30, 2020, June 30, 2020, and March 31, 2020, we issued 198,024 shares, 55,731 shares, and 35,032 shares of our common stock, and received proceeds of $1,045,097, $174,831 and $112,152, respectively, in connection with the exercise of stock options under our 2013 incentive plan.

During the quarters ended September 30, 2019, June 30, 2019 and March 31, 2019, we issued 48,775 shares, 60,295 shares and 101,878 shares of our common stock, and received proceeds of $206,324, $214,314 and $343,785, respectively, in connection with the exercise of stock options under our 2013 incentive plan. We also issued 130,001 shares of our common stock in the quarter ended March 31, 2019 in connection with restricted stock awards awarded in 2018.

We also issued 63,560 shares of our common stock in the nine months ended September 30, 2020 in connection with restricted stock awards as described in more detail in Note 6 – Stock Based Compensation.

Our Director Compensation Plan calls for issuance of shares of common stock each quarter to each independent director. In 2020, we issued 11,136 shares valued at $100,000 in the quarter ended March 31, 2020, 7,748 shares valued at $100,027 in the quarter ended June 30, 2020, and 5,915 shares valued at $124,984 in the quarter ended September 30, 2020. In 2019, we issued 8,336 shares each quarter, valued at $106,034, $135,043 and $120,705 for the quarters ended March 31, June 30 and September 30, respectively.

During the quarter ended June 30, 2019, in an underwritten primary offering, we issued 1,769,275 shares of our common stock for gross proceeds of $23,000,575. In connection with this transaction, we incurred equity issuance costs of $1,696,749 related to payments to the underwriter, advisors and legal fees associated with the transaction, resulting in net proceeds to our company of $21,303,826.

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss	$ (3,564,293)	$ (1,157,796)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation, amortization, and non-cash lease expense	1,563,883	745,928
Stock-based compensation	2,066,609	1,407,938
Stock issued as board compensation	325,011	361,782
Provision for loss on accounts receivable	80,000
Change in fair value of contingent consideration	140,390	(25,000)
Changes in:
Accounts receivable	(5,994,527)	(700,549)
Prepaid expenses and other assets	(931,833)	(469,623)
Accounts payable	(12,493)	184,464
Revenue share payable	2,023,650	(240,329)
Accrued expenses and other liabilities	704,559	(772,953)
Deferred revenue	(118,737)	505,279
NET CASH USED IN OPERATING ACTIVITIES	(3,717,781)	(160,859)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment	(45,254)	(61,457)
Purchase of intangible assets		(1,000,000)
NET CASH USED IN INVESTING ACTIVITIES	(45,254)	(1,061,457)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock, net of commission costs	1,332,080	22,369,960
Expenses related to issuance cost of common stock		(301,711)
Payment of contingent consideration	(4,389,187)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	(3,057,107)	22,068,249
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(6,820,142)	20,845,933
CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD	18,852,680	8,914,034
CASH AND CASH EQUIVALENTS – END OF PERIOD	12,032,538	29,759,967
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest
Cash paid for income taxes
Intangible asset additions included in accounts payable		500,000
Acquisition liabilities paid in common stock	$ 1,550,000
Non-cash effect of cumulative adjustments to accumulated deficit		3,229
Lease liabilities arising from right of use assets		$ 672,809

Contingent Purchase Price Payable

9 Months Ended

Sep. 30, 2020

Loss Contingency [Abstract]

CONTINGENT PURCHASE PRICE PAYABLE

NOTE 4 – CONTINGENT PURCHASE PRICE PAYABLE

The contingent purchase price payable relates to the acquisitions of CareSpeak Communications in 2018 and RMDY Health in 2019. The CareSpeak contingent amount is based on the CareSpeak product line achieving certain revenue targets in 2019 and 2020. The revenue target for 2019 was achieved and the revenue target for 2020 has been achieved as of September 30, 2020. The maximum amount payable under the agreement is $3.0 million. A total of $1,389,187 has been paid so far in 2020 and the remaining balance of $1,610,813 is payable in early 2021 and is reflected as a short-term liability on the consolidated balance sheet.

The RMDY Health contingent amount was based on that product line achieving certain revenue targets in 2020 and 2021. The minimum amount payable under the agreement was $2.0 million and the maximum amount payable was $30 million. As of the acquisition date in 2019, we estimated the contingent purchase price payable to be $3.72 million and recorded that amount in 2019. During the quarter ended September 30, 2020, we reached an agreement with the RMDY Health shareholders to fix the liability at $3.75 million payable in a combination of cash and stock. A total of $3.0 million was paid in cash and $750,000 in common stock. There is no further liability to the former shareholders of RMDY Health as of September 30, 2020.

The income statement includes a charge of $140,390 related to the change in fair value of the contingent consideration. There are three components to this charge. The first is the $30,000 recorded as of June 30, 2020 to adjust the initial estimate of $3.72 million to $3.75 million. The second component relates to the payment in common stock. Under the terms of the agreement, the number of shares to be issued was calculated based on a volume weighted average price. On the date of the agreement, the value of the stock exceeded the volume weighted average price, so the difference was recorded as a change in the fair value. The third component was a deferred payment related to potential claims, previously included in accrued expenses, that was payable either in stock or cash of $800,000. We chose to make this payment in stock and the number of shares was also based on a volume weighted average price. On the date of the agreement, the value of the stock exceeded the volume weighted average price, so the difference was recorded as a change in the fair value. The change in the fair value of contingent consideration recorded in the quarter ended September 30, 2020, was entirely related to the variance between the volume weighted average prices and actual price of the common stock on the date of the agreement.

Stock Based Compensation

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

STOCK BASED COMPENSATION

NOTE 6 – STOCK BASED COMPENSATION

We use the fair value method to account for stock-based compensation. We recorded $1,447,826 and $1,329,713 in compensation expense in the nine months ended September 30, 2020 and 2019, respectively, related to options issued under our 2013 incentive plan. This includes expense related to options issued in prior years for which the requisite service period for those options includes the current period as well as options issued in the current period. The fair value of these instruments was calculated using the Black-Scholes option pricing model. There is $1,603,417 of remaining expense related to unvested options to be recognized in the future over a weighted average remaining period of approximately 1.7 years. The total intrinsic value of outstanding options at September 30, 2020 was $22,611,933.

The Company also recorded expense related to restricted stock awards of $618,783 and $78,225 for the nine months ended September 30, 2020 and 2019, respectively. As of September 30, 2020, there was $832,473 of remaining expense related to unvested restricted stock awards to be recognized in the future related to 111,186 shares of restricted stock awards that were unvested at September 30, 2020. A total of 63,560 shares related to these restricted stock awards vested in 2020 and were issued during the nine months ended September 30, 2020.