OptimizeRx (OPRX) 10-Q14 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2023	Nov. 10, 2023
Document Information Line Items
Entity Registrant Name	OptimizeRx Corporation
Trading Symbol	OPRX
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		18,152,478
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, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-38543
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	26-1265381
Entity Address, Address Line One	260 Charles Street
Entity Address, Address Line Two	Suite 302
Entity Address, City or Town	Waltham
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02453
City Area Code	248
Local Phone Number	651-6568
Title of 12(b) Security	Common Stock, par value $0.001
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 9,921,475	$ 18,208,685
Short-term investments	53,620,576	55,931,821
Accounts receivable, net	20,838,762	22,155,301
Prepaid expenses and other	3,008,858	2,280,828
Total current assets	87,389,671	98,576,635
Property and equipment, net	149,304	137,448
Other assets
Goodwill	22,673,820	22,673,820
Technology assets, net	7,548,337	7,702,895
Patent rights, net	1,777,669	1,940,178
Deferred financing costs	300,000
Right of use assets, net	148,642	235,320
Other intangible assets, net	3,141,709	3,384,889
Other long-term assets	800,000
Total other assets	36,390,177	35,937,102
TOTAL ASSETS	123,929,152	134,651,185
Current liabilities
Accounts payable – trade	691,159	1,549,979
Accrued expenses	3,108,908	2,601,246
Revenue share payable	3,685,390	3,990,440
Current portion of lease liabilities	27,687	89,902
Deferred revenue	188,394	164,309
Total current liabilities	7,701,538	8,395,876
Non-current liabilities
Lease liabilities, net of current portion	120,955	144,532
Total liabilities	7,822,493	8,540,408
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized, none issued and outstanding at September 30, 2023 or December 31, 2022
Common stock, $0.001 par value, 166,666,667 shares authorized, 18,386,920 and 18,288,571 shares issued at September 30, 2023 and December 31, 2022, respectively	18,387	18,289
Treasury stock, $0.001 par value, 1,741,397 and 1,214,398 shares held at September 30, 2023 and December 31, 2022, respectively	(1,741)	(1,214)
Additional paid-in-capital	176,206,572	172,785,800
Accumulated deficit	(60,116,559)	(46,692,098)
Total stockholders’ equity	116,106,659	126,110,777
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 123,929,152	$ 134,651,185

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
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	166,666,667	166,666,667
Common stock, shares issued	18,386,920	18,288,571
Common stock, shares outstanding	18,386,920	18,288,571
Treasury stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Treasury stock, shares held	1,741,397	1,214,398

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net revenue	$ 16,331,484	$ 15,085,504	$ 43,152,560	$ 42,795,699
Cost of revenues, exclusive of depreciation and amortization presented separately below	6,531,183	5,664,733	18,093,949	16,283,307
Gross profit	9,800,301	9,420,771	25,058,611	26,512,392
Operating expenses
General and administrative expenses	12,887,083	12,661,703	39,161,752	36,373,298
Depreciation, amortization and noncash lease expense	466,706	515,828	1,395,400	1,565,484
Total operating expenses	13,353,789	13,177,530	40,557,152	37,938,782
Loss from operations	(3,553,488)	(3,756,759)	(15,498,541)	(11,426,390)
Other income
Interest income	688,190	289,967	2,074,081	313,786
Loss before provision for income taxes	(2,865,298)	(3,466,792)	(13,424,460)	(11,112,604)
Income tax benefit
Net loss	$ (2,865,298)	$ (3,466,792)	$ (13,424,460)	$ (11,112,604)
Weighted average number of shares outstanding – basic (in Shares)	16,637,606	17,981,184	16,907,482	17,994,288
Weighted average number of shares outstanding – diluted (in Shares)	16,637,606	17,981,184	16,907,482	17,994,288
Loss per share – basic (in Dollars per share)	$ (0.17)	$ (0.19)	$ (0.79)	$ (0.62)
Loss per share – diluted (in Dollars per share)	$ (0.17)	$ (0.19)	$ (0.79)	$ (0.62)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) - USD ($)	Common Stock	Treasury Stock	Additional Paid in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2021	$ 17,861		$ 166,615,514	$ (35,253,658)	$ 131,379,717
Balance (in Shares) at Dec. 31, 2021	17,860,975
Stock based compensation expense
Options			905,744		905,744
Restricted stock			2,268,354		2,268,354
Stock based compensation expense
Issuance of common stock
For options exercised	$ 28		258,100		258,128
For options exercised (in Shares)	28,006
For restricted stock units vested	$ 14		(14)
For restricted stock units vested (in Shares)	13,627
Issuance of common stock
Net loss				(3,761,098)	(3,761,098)
Balance at Mar. 31, 2022	$ 17,903		170,047,698	(39,014,756)	131,050,845
Balance (in Shares) at Mar. 31, 2022	17,902,608
Balance at Dec. 31, 2021	$ 17,861		166,615,514	(35,253,658)	131,379,717
Balance (in Shares) at Dec. 31, 2021	17,860,975
Issuance of common stock
Net loss					(11,112,604)
Balance at Sep. 30, 2022	$ 18,261	$ (706)	175,920,910	(46,366,262)	129,572,203
Balance (in Shares) at Sep. 30, 2022	18,261,239	(706,114)
Balance at Dec. 31, 2021	$ 17,861		166,615,514	(35,253,658)	$ 131,379,717
Balance (in Shares) at Dec. 31, 2021	17,860,975
Issuance of common stock
Repurchase of common stock (in Shares)					1,214,398
Balance at Dec. 31, 2022	$ 18,289	$ (1,214)	172,785,800	(46,692,098)	$ 126,110,777
Balance (in Shares) at Dec. 31, 2022	18,288,571	(1,214,398)
Balance at Mar. 31, 2022	$ 17,903		170,047,698	(39,014,756)	131,050,845
Balance (in Shares) at Mar. 31, 2022	17,902,608
Stock based compensation expense
Options			1,336,810		1,336,810
Restricted stock			2,688,513		2,688,513
Stock based compensation expense
Issuance of common stock
For options exercised	$ 44		572,303		572,347
For options exercised (in Shares)	43,701
For acquisition	$ 241		9,374,214		$ 9,374,455
For acquisition (in Shares)	240,741
For restricted stock units vested (in Shares)					240,741
Issuance of common stock
Repurchase of common stock		$ (13)	(321,041)		$ (321,054)
Repurchase of common stock (in Shares)		(12,868)
Net loss				(3,884,714)	(3,884,714)
Balance at Jun. 30, 2022	$ 18,188	$ (13)	183,698,497	(42,899,470)	140,817,202
Balance (in Shares) at Jun. 30, 2022	18,187,050	(12,868)
Options			1,381,512		1,381,512
Restricted stock			2,895,729		2,895,729
Stock based compensation expense
Issuance of common stock
For options exercised	$ 68		219,561		219,629
For options exercised (in Shares)	68,751
For restricted stock units vested	$ 5		(34,565)		(34,560)
For restricted stock units vested (in Shares)	5,438
Issuance of common stock
Repurchase of common stock		$ (693)	(12,239,824)		(12,240,517)
Repurchase of common stock (in Shares)		(693,246)
Net loss				(3,466,792)	(3,466,792)
Balance at Sep. 30, 2022	$ 18,261	$ (706)	175,920,910	(46,366,262)	129,572,203
Balance (in Shares) at Sep. 30, 2022	18,261,239	(706,114)
Balance at Dec. 31, 2022	$ 18,289	$ (1,214)	172,785,800	(46,692,098)	126,110,777
Balance (in Shares) at Dec. 31, 2022	18,288,571	(1,214,398)
Stock based compensation expense
Options			1,466,694		1,466,694
Restricted stock			2,913,809		2,913,809
Stock based compensation expense
Issuance of common stock
For options exercised	$ 10		40,596		40,606
For options exercised (in Shares)	9,668
For restricted stock units vested	$ 33		(170,433)		(170,400)
For restricted stock units vested (in Shares)	33,272
Issuance of common stock
Net loss				(6,397,714)	(6,397,714)
Balance at Mar. 31, 2023	$ 18,332	$ (1,214)	177,036,466	(53,089,812)	123,963,772
Balance (in Shares) at Mar. 31, 2023	18,331,511	(1,214,398)
Balance at Dec. 31, 2022	$ 18,289	$ (1,214)	172,785,800	(46,692,098)	126,110,777
Balance (in Shares) at Dec. 31, 2022	18,288,571	(1,214,398)
Issuance of common stock
Net loss					(13,424,460)
Balance at Sep. 30, 2023	$ 18,387	$ (1,741)	176,206,572	(60,116,559)	116,106,659
Balance (in Shares) at Sep. 30, 2023	18,386,920	(1,741,397)
Balance at Mar. 31, 2023	$ 18,332	$ (1,214)	177,036,466	(53,089,812)	123,963,772
Balance (in Shares) at Mar. 31, 2023	18,331,511	(1,214,398)
Stock based compensation expense
Options			1,654,770		1,654,770
Restricted stock			1,848,353		1,848,353
Stock based compensation expense
Issuance of common stock
For options exercised	$ 10		105,090		105,100
For options exercised (in Shares)	10,000
For restricted stock units vested	$ 35		(72,996)		(72,961)
For restricted stock units vested (in Shares)	35,260
Issuance of common stock
Repurchase of common stock		$ (527)	(7,521,899)		(7,522,426)
Repurchase of common stock (in Shares)		(526,999)
Net loss				(4,161,449)	(4,161,449)
Balance at Jun. 30, 2023	$ 18,377	$ (1,741)	173,049,784	(57,251,261)	115,815,159
Balance (in Shares) at Jun. 30, 2023	18,376,771	(1,741,397)
Options			1,598,315		1,598,315
Restricted stock			1,607,912		1,607,912
Stock based compensation expense
For options exercised
For restricted stock units vested	$ 10		(49,438)		(49,428)
For restricted stock units vested (in Shares)	10,149
Issuance of common stock
Repurchase of common stock
Net loss				(2,865,298)	(2,865,298)
Balance at Sep. 30, 2023	$ 18,387	$ (1,741)	$ 176,206,572	$ (60,116,559)	$ 116,106,659
Balance (in Shares) at Sep. 30, 2023	18,386,920	(1,741,397)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (13,424,460)	$ (11,112,604)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	1,395,400	1,565,484
Stock-based compensation	11,089,853	11,476,662
Increase in bad debt reserve	478,086	132,727
Changes in:
Accounts receivable	838,453	6,854,150
Prepaid expenses and other assets	(728,030)	2,199,333
Accounts payable	(858,820)	393,817
Revenue share payable	(305,049)	(1,704,593)
Accrued expenses and other liabilities	508,548	(1,237,689)
Deferred revenue	24,084	(716,693)
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	(981,935)	7,850,594
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES:
Purchase of property and equipment	(81,767)	(64,667)
Purchases of held-to-maturity investments	(162,777,510)	(37,468,889)
Redemptions of held-to-maturity investments	165,088,755
EvinceMed acquisition		(2,000,000)
Acquisition of intangible assets, including intellectual property rights	(3,796)	(158,321)
Capitalized software development costs	(1,561,447)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	664,235	(39,691,877)
CASH FLOWS (USED IN) PROVIDED BY FINANCING ACTIVITIES:
Cash paid for employee withholding taxes related to the vesting of restricted stock units	(292,789)
Repurchase of common stock	(7,522,426)	(12,561,571)
Proceeds from exercise of stock options	145,706	1,050,104
Loan origination costs	(300,000)
NET CASH USED IN FINANCING ACTIVITIES	(7,969,509)	(11,511,467)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(8,287,209)	(43,352,750)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	18,208,685	84,681,770
CASH AND CASH EQUIVALENTS - END OF PERIOD	9,921,475	41,329,020
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest
ROU assets obtained in exchange for lease obligations	158,191
Reduction of EvinceMed purchase price for amounts previously paid		708,334
Shares issued in connection with acquisition		9,374,455
Cash paid for income taxes

Nature of Business and Basis of

Nature of Business and Basis of Presentation	9 Months Ended
Nature of Business and Basis of Presentation	Sep. 30, 2023
Nature of Business and Basis of Presentation [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 technology company enabling care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. Connecting over 60% of U.S. healthcare providers and millions of their patients through an intelligent technology platform embedded within a proprietary point-of-care network, OptimizeRx helps patients start and stay on their medications. The condensed consolidated financial statements for the three and nine months ended September 30, 2023 and 2022 have been prepared by us without audit 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 financial position at September 30, 2023, and our results of operations, changes in stockholders’ equity, and cash flows for the nine months ended September 30, 2023 and 2022, have been made. Those adjustments consist of normal and recurring adjustments. The condensed consolidated balance sheet as of December 31, 2022, has been derived from the audited consolidated condensed 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 consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with a reading of the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as filed with the SEC on March 10, 2023. The results of operations for the nine months ended September 30, 2023, are not necessarily indicative of the results to be expected for the full year.

New Accounting Standards

New Accounting Standards	9 Months Ended
New Accounting Standards	Sep. 30, 2023
New Accounting Standards [Abstract]
NEW ACCOUNTING STANDARDS	NOTE 2 – NEW ACCOUNTING STANDARDS ASU Topic 2021-08 Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , Revenue from Contracts with Customers

Cash, Cash Equivalents and Shor

Cash, Cash Equivalents and Short-Term Investments	9 Months Ended
Cash, Cash Equivalents and Short-Term Investments	Sep. 30, 2023
Cash, Cash Equivalents and Short-Term Investments [Abstract]
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS	NOTE 3 - CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS Cash equivalents include items almost as liquid as cash with maturity periods of three months or less when purchased, and short-term investments include items with maturity dates between three months and one year when purchased. We account for marketable securities in accordance with ASC 320, “Investments - Debt Securities”, which require that certain debt securities be classified into one of three categories: held-to-maturity, available-for-sale, or trading securities, and depending upon the classification, value the security at amortized cost or fair market value. At September 30, 2023 and December 31, 2022, we have recorded $53.6 million and $55.9 million, respectively, of held-to-maturity United States’ Treasury Bills at amortized cost basis. Our held-to-maturity United States’ Treasury Bills have maturity dates between October 2023 and December 2023.

Capitalized Software Costs

Capitalized Software Costs	9 Months Ended
Capitalized Software Costs	Sep. 30, 2023
Capitalized Software Costs [Abstract]
CAPITALIZED SOFTWARE COSTS	NOTE 4 - CAPITALIZED SOFTWARE COSTS The Company capitalizes certain development costs incurred in connection with software development for internal-use software platforms used in operations and for providing services to our customers. Costs incurred in the preliminary stages of development are expensed as incurred. Once software has reached the development stage, internal and external costs, if direct, are capitalized until the software is substantially complete and ready for its intended use. Capitalization ceases upon completion of all substantial testing. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Capitalized internal use software development costs are included in intangible assets and are amortized on a straight-line basis over the estimated useful life of the software platforms and are included in depreciation and amortization within operating expenses in the consolidated statements of operations. Amortization of capitalized internal use software expense for the nine months ended September 30, 2023 and 2022 was $142,662 and $254,547, respectively. The Company accumulates capitalizable costs related to current projects in a construction in process (“CIP”) software account, the balance of which was $761,447 and zero at September 30, 2023 and December 31, 2022, respectively.

Revenues

Revenues	9 Months Ended
Revenues	Sep. 30, 2023
Revenues [Abstract]
REVENUES	NOTE 5 – REVENUES Under ASC 606, Revenue from Contracts with Customers The Company has several signed contracts with customers for the distribution of messaging, or other services, which include payment in advance. The payments are not recorded as revenue until the revenue is earned under its revenue recognition policy. Deferred revenue was $188,394 and $164,309 as of September 30, 2023 and December 31, 2022, respectively. The contracts are all short term in nature and all revenue is expected to be recognized within 12 months, or less. Following is a summary of activity for the deferred revenue account for the nine months ended September 30. 2023 2022 Balance January 1 $ 164,309 $ 1,389,907 Revenue recognized (8,778,893 ) (6,013,181 ) Amount collected 9,349,724 5,916,318 Balance March 31 $ 735,140 $ 1,293,044 Revenue recognized (9,619,380 ) (7,373,802 ) Amount collected 9,336,027 7,122,677 Balance June 30 $ 451,787 $ 1,041,919 Revenue recognized (11,400,132 ) (9,611,912 ) Amount collected 11,136,739 9,243,207 Balance September 30 $ 188,394 $ 673,214 Disaggregation of Revenue Consistent with ASC Topic 606, we have disaggregated our revenue by timing of revenue recognition. The majority of our revenue is recognized over time as solutions are provided. A small portion of our revenue related to program development, solution architect design, and other solutions is recognized at a point in time upon delivery to customers. A break down is set forth in the table below. Three Months Ended Nine Months Ended 2023 2022 2023 2022 Revenue recognized over time $ 14,815,187 $ 14,503,942 $ 40,421,323 $ 39,627,265 Revenue recognized at a point in time 1,516,297 581,562 2,731,237 3,168,434 Total Revenue $ 16,331,484 $ 15,085,504 $ 43,152,560 $ 42,795,699

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2023
Leases [Abstract]
LEASES	NOTE 6 – LEASES During the nine months ended, we had operating leases for office space in three multi-tenant facilities in Rochester, Michigan, and Zagreb, Croatia. We also had a lease on office space in Cranbury, New Jersey, which expired in January 2022. The lease in Rochester, Michigan was terminated during the quarter ended June 30, 2023. The lease in Zagreb, Croatia was terminated in the quarter ended September 30, 2023 and replaced with a lease in a new location in Zagreb, Croatia that expires in June 2028. In July 2023, the Company entered into a short-term sublease agreement for office space in Waltham, MA. The term of the sublease commenced on June 15, 2023 and will terminate on July 31, 2024. The Company is obligated to pay approximately $5,800 per month over the term of the lease. 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, subleases of less than eighteen (18) months, and occasional rent for transient meeting and office spaces in shared office space facilities. For the nine months ended September 30, 2023 and 2022, the Company’s lease cost consists of the following components, each of which is included in operating expenses within the Company’s condensed consolidated statements of operations: Nine Months Ended 2023 2022 Operating lease cost $ 60,520 $ 72,208 Short-term lease cost 26,995 36,552 Total lease cost $ 87,515 $ 108,760 The table below presents the future minimum lease payments to be made under operating leases as of September 30, 2023: As of September 30, 2023 2023 $ 9,032 2024 36,129 2025 36,129 2026 36,129 2027 36,129 Thereafter 18,065 Total 171,613 Less: discount 22,971 Total lease liabilities $ 148,642 The remaining lease term at September 30, 2023 for the operating lease is 4 years, 9 months, and the discount rate used in calculating the operating lease asset and liability is 6.32%. Cash paid for amounts included in the measurement of lease liabilities was $53,027 and $66,244 for the nine months ended September 30, 2023 and 2022, respectively. For the nine months ended September 30, 2023 and 2022, payments on lease obligations were $60,095 and $75,719, respectively, and amortization on the right of use assets was $60,520 and $77,011, respectively.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2023
Stockholders' Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 7 – STOCKHOLDERS’ EQUITY Preferred Stock The Company had 10,000,000 shares of preferred stock, $0.001 par value per share, authorized as of September 30, 2023. No Common Stock The Company had 166,666,667 shares of common stock, $0.001 par value per share, authorized as of September 30, 2023. There were 16,645,523 and 17,074,173 shares of common stock outstanding, net of shares held in treasury of 1,741,397 and 1,214,398, at September 30, 2023 and December 31, 2022, respectively. During the quarters ended September 30, 2023, June 30, 2023 and March 31, 2023, the Company issued 0, 10,000 and 9,668 shares of our common stock, respectively, and received proceeds of $0, $105,100 and $40,606, respectively, in connection with the exercise of options under our 2013 Incentive Plan. During the quarters ended September 30, 2022, June 30, 2022 and March 31, 2022, the Company issued 68,751, 43,701 and 28,006 shares of our common stock, respectively, and received proceeds of $219,629, $572,347 and $258,128, respectively, in connection with the exercise of options under our 2013 Incentive Plan. The Company issued 10,149, 35,260 and 33,272 shares of common stock in the three months ended September 30, 2023, June 30, 2023 and March 31, 2023, respectively, in connection with the vesting of restricted stock units under our 2013 Incentive Plan and our 2021 Equity Incentive Plan. Some of the participants utilized a net withhold settlement method, in which shares were surrendered to cover payroll withholding taxes. Of the shares issued to participants during the nine months ended September 30, 2023, 19,488 shares, valued at $260,710, were surrendered and subsequently cancelled. The Company issued 5,438, 0, and 13,627 shares of common stock in the three months ended September 30, 2022, June 30, 2022, and March 31, 2022, respectively, in connection with the vesting of restricted stock units under our 2013 Incentive Plan and our 2021 Equity Incentive Plan. The Company issued 240,741 shares of common stock valued at $9,374,455 during the quarter ended June 30, 2022 in connection with the acquisition of substantially all of the assets of EvinceMed Corp. Treasury Stock During the quarter ended March 31, 2023, the Board authorized a share repurchase program, under which the Company may repurchase up to $15 million of its outstanding common stock. This stock repurchase authorization expires on the earlier of March 12, 2024, or when the repurchase of $15 million of shares of its common stock has been reached. During the quarter ended June 30, 2023, the Company repurchased 526,999 shares, under this program for a total of $7,522,426, including commissions paid on repurchases. These shares were recorded as treasury shares using the par value method. There were no shares repurchased in the quarter ended September 30, 2023. During 2022, the Board authorized a share repurchase program, under which the Company could repurchase up to $20.0 million of its outstanding common stock. During 2022, the Company repurchased 1,214,398 shares of our common stock for a total of $20,021,830, including commissions paid on repurchases. These shares were recorded as treasury shares using the par value method.

Stock Based Compensation

Stock Based Compensation	9 Months Ended
Stock Based Compensation	Sep. 30, 2023
Stock Based Compensation [Abstract]
STOCK BASED COMPENSATION	NOTE 8 – STOCK BASED COMPENSATION Stock Options The compensation expense related to options for the nine months ended September 30, 2023 and 2022 was $4,719,779 and $3,624,065, respectively. The fair value of these instruments was calculated using the Black-Scholes option pricing model. There is $10,177,841 of remaining expense related to unvested options to be recognized in the future over a weighted average period of 1.75 years. The total intrinsic value of outstanding options at September 30, 2023 was $12,600. During 2022, the Company granted certain performance based stock options, the expense for which will be recorded over time once the achievement of the performance is deemed probable. There was no expense related to these options recorded during the period. Restricted Stock Units The Company recorded of $6,370,074 and $7,852,597 in compensation expense related to restricted stock units for the nine months ended September 30, 2023 and 2022, respectively. A total of $11,247,274 remains to be recognized at September 30, 2023 over a weighted average period of 1.88 years. During 2022, the Company granted certain performance based restricted stock units, the expense for which will be recorded over time once the achievement of the performance is deemed probable. There was no expense related to these restricted stock units recorded during the period. The director’s compensation program calls for the grant of restricted stock units with a one year vesting period. There was $540,820 and $444,365 included in the compensation expense discussed above related to director’s compensation for the periods ended September 30, 2023 and 2022, respectively. Equity Award Modification On April 16, 2023, the Compensation Committee approved a grant to the CEO of 86,685 restricted stock units and 161,698 stock options with a grant date fair value of $2.5 million to vest over a three year period. Concurrently, the CEO forfeited his October 2021 grant of 182,398 market-based restricted stock units. The forfeiture and accompanying grant are considered an equity modification according to ASC 718, Compensation-Stock Compensation

Loss Per Share

Loss Per Share	9 Months Ended
Loss Per Share	Sep. 30, 2023
Loss Per Share [Abstract]
LOSS PER SHARE	NOTE 9 – LOSS PER SHARE Basic earnings per share (“EPS”) is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. The number of shares related to options and restricted stock units included in diluted EPS is based on the “Treasury Stock Method” prescribed in ASC 260-10, Earnings per Share The following table sets forth the computation of basic and diluted net loss per share. Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator Net loss $ (2,865,298 ) $ (3,466,792 ) $ (13,424,460 ) $ (11,112,604 ) Denominator Weighted average shares outstanding used in computing net loss per share Basic 16,637,606 17,981,184 16,907,482 17,994,288 Effect of dilutive stock options, warrants, and stock grants — — — — Diluted 16,637,606 17,981,184 16,907,482 17,994,288 Net loss per share Basic $ (0.17 ) $ (0.19 ) $ (0.79 ) $ (0.62 ) Diluted $ (0.17 ) $ (0.19 ) $ (0.79 ) $ (0.62 ) No calculation of diluted earnings per share is included for the three or nine months ended September 30, 2023 or 2022 as the effect of the calculation would be anti-dilutive. The number of common shares potentially issuable upon the exercise of certain options and the vesting of certain restricted stock units that were excluded from the diluted loss per common share calculation are reflected in the table below. Three Months Ended Nine Months Ended Weighted average number of shares for the periods ended 2023 2022 2023 2022 Options 7,433 63,471 17,736 99,587 Unvested restricted stock unit awards 3,739 43,751 23,341 76,010 Total 11,172 107,222 41,077 175,597

Contingencies

Contingencies	9 Months Ended
Contingencies	Sep. 30, 2023
Contingencies [Abstract]
CONTINGENCIES	NOTE 10 – CONTINGENCIES Litigation The Company is not currently involved in any material legal proceedings.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2023
Income Taxes [Abstract]
INCOME TAXES	NOTE 11 – INCOME TAXES As discussed in our annual report on Form 10-K for the year ended December 31, 2022, we had net operating loss carry-forwards for federal income tax purposes of approximately $21.5 million as of December 31, 2022. Accordingly, no federal income tax expense or benefit is recorded in the current period. Management monitors company-specific, and macro- economic factors and assesses the likelihood that the Company’s net deferred tax assets will be utilized prior to their expiration. As previously disclosed in our annual report, the Company maintained a valuation allowance against its net deferred tax assets.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 12 – SUBSEQUENT EVENTS In October 2023, the Company completed the acquisition of 100% of the outstanding shares of Healthy Offers, Inc. (d/b/a Medicx Health), a Nevada corporation. On October 24, 2023, a newly formed wholly-owned subsidiary of the Company consummated the merger with and into Medicx, with Medicx continuing as the surviving company and a wholly-owned subsidiary of the Company (the “Merger”). The aggregate merger consideration the Company paid to the securityholders of Medicx at the closing was $95,000,000, subject to certain customary post-acquisition purchase price adjustments. There were $554,741 and $589,691 in costs related to the acquisition recorded in operating expense for the three and nine months ended September 30, 2023, respectively. Certain members of Medicx’s management team (“Management Investors”) agreed to use a portion of the consideration received to purchase, in the aggregate, approximately $10.5 million of the Company’s common stock. On October, 24, 2023, at the closing of the Merger, each Management Investor executed a common stock purchase agreement (the “Subscription Agreement”). Pursuant to the Subscription Agreement, the Company issued 1,444,581 shares of its common stock in the aggregate to the Management Investors. A portion of the cash purchase price was funded through debt financing. The financing agreement provides for a term loan in the aggregate principal amount of $40,000,000. The term loan is repayable in quarterly installments on the last business day of each fiscal quarter commencing on December 31, 2023 in an amount equal to 1.25% of the principal amount. The outstanding unpaid principal amount of the term loan, and all accrued and unpaid interest thereon, shall be due and payable on the earliest of (i) the fourth (4th) anniversary of the closing of the financing agreement and funding of the term loan and (ii) the date on which the term loan is declared due and payable pursuant to the terms of the finance agreement. There was $300,000 of fees paid in loan origination fees during the three and nine months ending September 30, 2023.

Revenues (Tables)

Revenues (Tables)	9 Months Ended
Revenues (Tables)	Sep. 30, 2023
Revenues [Abstract]
Schedule of Deferred Revenue	Following is a summary of activity for the deferred revenue account for the nine months ended September 30. 2023 2022 Balance January 1 $ 164,309 $ 1,389,907 Revenue recognized (8,778,893 ) (6,013,181 ) Amount collected 9,349,724 5,916,318 Balance March 31 $ 735,140 $ 1,293,044 Revenue recognized (9,619,380 ) (7,373,802 ) Amount collected 9,336,027 7,122,677 Balance June 30 $ 451,787 $ 1,041,919 Revenue recognized (11,400,132 ) (9,611,912 ) Amount collected 11,136,739 9,243,207 Balance September 30 $ 188,394 $ 673,214
Schedule of Revenue Recognition	A break down is set forth in the table below. Three Months Ended Nine Months Ended 2023 2022 2023 2022 Revenue recognized over time $ 14,815,187 $ 14,503,942 $ 40,421,323 $ 39,627,265 Revenue recognized at a point in time 1,516,297 581,562 2,731,237 3,168,434 Total Revenue $ 16,331,484 $ 15,085,504 $ 43,152,560 $ 42,795,699

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2023
Leases [Abstract]
Schedule of Lease Cost	For the nine months ended September 30, 2023 and 2022, the Company’s lease cost consists of the following components, each of which is included in operating expenses within the Company’s condensed consolidated statements of operations: Nine Months Ended 2023 2022 Operating lease cost $ 60,520 $ 72,208 Short-term lease cost 26,995 36,552 Total lease cost $ 87,515 $ 108,760
Schedule of Future Minimum Lease Payments	The table below presents the future minimum lease payments to be made under operating leases as of September 30, 2023: As of September 30, 2023 2023 $ 9,032 2024 36,129 2025 36,129 2026 36,129 2027 36,129 Thereafter 18,065 Total 171,613 Less: discount 22,971 Total lease liabilities $ 148,642

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
Loss Per Share (Tables)	Sep. 30, 2023
Loss Per Share [Abstract]
Schedule of Basic and Diluted Net Loss Per Share	The following table sets forth the computation of basic and diluted net loss per share. Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator Net loss $ (2,865,298 ) $ (3,466,792 ) $ (13,424,460 ) $ (11,112,604 ) Denominator Weighted average shares outstanding used in computing net loss per share Basic 16,637,606 17,981,184 16,907,482 17,994,288 Effect of dilutive stock options, warrants, and stock grants — — — — Diluted 16,637,606 17,981,184 16,907,482 17,994,288 Net loss per share Basic $ (0.17 ) $ (0.19 ) $ (0.79 ) $ (0.62 ) Diluted $ (0.17 ) $ (0.19 ) $ (0.79 ) $ (0.62 )
Schedule of Vesting of Certain Restricted Stock Units	The number of common shares potentially issuable upon the exercise of certain options and the vesting of certain restricted stock units that were excluded from the diluted loss per common share calculation are reflected in the table below. Three Months Ended Nine Months Ended Weighted average number of shares for the periods ended 2023 2022 2023 2022 Options 7,433 63,471 17,736 99,587 Unvested restricted stock unit awards 3,739 43,751 23,341 76,010 Total 11,172 107,222 41,077 175,597

Nature of Business and Basis _2

Nature of Business and Basis of Presentation (Details)	9 Months Ended
Nature of Business and Basis of Presentation (Details)	Sep. 30, 2023
Nature of Business and Basis of Presentation [Line Items]
U.S. healthcare providers percentage	60%

Cash, Cash Equivalents and Sh_2

Cash, Cash Equivalents and Short-Term Investments (Details) - US Treasury Securities [Member] - USD ($)	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Cash, Cash Equivalents and Short-Term Investments [Line items]
Held-to-maturity	$ 53.6	$ 55.9
Maturity description	Our held-to-maturity United States’ Treasury Bills have maturity dates between October 2023 and December 2023

Capitalized Software Costs (Det

Capitalized Software Costs (Details) - USD ($)	9 Months Ended
Capitalized Software Costs (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022
Capitalized Software Costs [Line Items]
Amortization of software expense	$ 142,662	$ 254,547
Accumulates capitalizable costs	$ 761,447	$ 0

Revenues (Details)

Revenues (Details) - USD ($)	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Revenues [Line Items]
Accounts receivable	$ 4,598,280			$ 3,582,735
Deferred revenue	$ 188,394	$ 451,787	$ 735,140	$ 164,309	$ 673,214	$ 1,041,919	$ 1,293,044	$ 1,389,907

Revenues (Details) - Schedule o

Revenues (Details) - Schedule of Deferred Revenue - USD ($)	3 Months Ended
Revenues (Details) - Schedule of Deferred Revenue - USD ($)	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Schedule Of Deferred Revenue Abstract [Line Items]
Balance	$ 451,787	$ 735,140	$ 164,309	$ 1,041,919	$ 1,293,044	$ 1,389,907
Revenue recognized	(11,400,132)	(9,619,380)	(8,778,893)	(9,611,912)	(7,373,802)	(6,013,181)
Amount collected	11,136,739	9,336,027	9,349,724	9,243,207	7,122,677	5,916,318
Balance	$ 188,394	$ 451,787	$ 735,140	$ 673,214	$ 1,041,919	$ 1,293,044

Revenues (Details) - Schedule_2

Revenues (Details) - Schedule of Revenue Recognition - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule of Revenue Recognition [Line Items]
Total Revenue	$ 16,331,484	$ 15,085,504	$ 43,152,560	$ 42,795,699
Revenue recognized over time [Member]
Schedule of Revenue Recognition [Line Items]
Total Revenue	14,815,187	14,503,942	40,421,323	39,627,265
Revenue recognized at a point in time [Member]
Schedule of Revenue Recognition [Line Items]
Total Revenue	$ 1,516,297	$ 581,562	$ 2,731,237	$ 3,168,434

Leases (Details)

Leases (Details) - USD ($)	9 Months Ended
Leases (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Obligated term lease	$ 5,800
Weighted average remaining lease term	4 years
Weighted average discount rate	6.32%
Lease liabilities	$ 53,027	$ 66,244
Payments on lease obligation	60,095	75,719
Amortization on the right of use assets	$ 60,520	$ 77,011

Leases (Details) - Schedule of

Leases (Details) - Schedule of Lease Cost - USD ($)	9 Months Ended
Leases (Details) - Schedule of Lease Cost - USD ($)	Sep. 30, 2023	Sep. 30, 2022
Schedule of Lease Cost [Line Items]
Operating lease cost	$ 60,520	$ 72,208
Short-term lease cost	26,995	36,552
Total lease cost	$ 87,515	$ 108,760

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of Future Minimum Lease Payments	Sep. 30, 2023 USD ($)
Schedule of Future Minimum Lease Payments [Line Items]
2023	$ 9,032
2024	36,129
2025	36,129
2026	36,129
2027	36,129
Thereafter	18,065
Total	171,613
Less: discount	22,971
Total lease liabilities	$ 148,642

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	3 Months Ended					6 Months Ended		9 Months Ended		12 Months Ended
Stockholders' Equity (Details) - USD ($)	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Stockholders' Equity [Abstract]
Preferred stock, shares authorized								10,000,000		10,000,000
Preferred stock, par value (in Dollars per share)								$ 0.001		$ 0.001
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, shares authorized								166,666,667		166,666,667
Common Stock, Par or Stated Value Per Share (in Dollars per share)								$ 0.001		$ 0.001
Common stock outstanding								16,645,523		17,074,173
Net of shares held in treasury								1,741,397		1,214,398
Common stock shares issued		9,668			28,006	10,000	43,701	0	68,751
Received proceeds from common stock (in Dollars)		$ 40,606			$ 258,128	$ 105,100	$ 572,347	$ 0	$ 219,629
Shares of common stock issued	35,260	33,272	5,438	0	13,627			10,149
Shares issued								19,488
Shares issued valued (in Dollars)								$ 260,710
Common stock value share				240,741
Common stock value share issued (in Dollars)				$ 9,374,455
Outstanding common stock (in Dollars)	$ 15,000,000	$ 15,000,000				$ 15,000,000				$ 20,000,000
Shares of our common stock repurchased	526,999					526,999
Commissions paid on repurchases (in Dollars)	$ 7,522,426					$ 7,522,426
Repurchased shares										1,214,398
Commissions paid (in Dollars)										$ 20,021,830

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($) $ / shares in Millions		1 Months Ended	9 Months Ended
	Apr. 16, 2023	Oct. 31, 2021	Sep. 30, 2023	Sep. 30, 2022
Stock Based Compensation [Line Items]
Remaining to expense			$ 10,177,841
Expense remaining over a period			1 year 9 months
Total intrinsic value of outstanding options			$ 12,600
Restricted stock granted remains value			$ 11,247,274
Remains to be recognized over period			1 year 10 months 17 days
Restricted stock units (in Shares)	86,685
Stock options (in Shares)	161,698
Grant date fair value (in Dollars per share)	$ 2.5
Market-based restricted stock units (in Shares)		182,398
Monte carlo simulation total			$ 1,900,000
Stock Options [Member]
Stock Based Compensation [Line Items]
Compensation expense			4,719,779	$ 3,624,065
Compensation Expense [Member]
Stock Based Compensation [Line Items]
Compensation expense			540,820	444,365
Restricted Stock Units [Member]
Stock Based Compensation [Line Items]
Compensation expense			$ 6,370,074	$ 7,852,597

Loss Per Share (Details) - Sche

Loss Per Share (Details) - Schedule of Basic and Diluted Net Loss Per Share - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator
Net loss (in Dollars)	$ (2,865,298)	$ (4,161,449)	$ (6,397,714)	$ (3,466,792)	$ (3,884,714)	$ (3,761,098)	$ (13,424,460)	$ (11,112,604)
Weighted average shares outstanding used in computing net loss per share
Basic	16,637,606			17,981,184			16,907,482	17,994,288
Effect of dilutive stock options, warrants, and stock grants
Diluted	16,637,606			17,981,184			16,907,482	17,994,288
Net loss per share
Basic (in Dollars per share)	$ (0.17)			$ (0.19)			$ (0.79)	$ (0.62)
Diluted (in Dollars per share)	$ (0.17)			$ (0.19)			$ (0.79)	$ (0.62)

Loss Per Share (Details) - Sc_2

Loss Per Share (Details) - Schedule of Vesting of Certain Restricted Stock Units - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule of Vesting of Certain Restricted Stock Units [Line Items]
Options	7,433	63,471	17,736	99,587
Unvested restricted stock unit awards	3,739	43,751	23,341	76,010
Total	11,172	107,222	41,077	175,597

Income Taxes (Details)

Income Taxes (Details) $ in Millions	Dec. 31, 2022 USD ($)
Income Taxes [Line Items]
Net operating loss carry-forwards	$ 21.5

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)			3 Months Ended	9 Months Ended
Subsequent Events (Details) - USD ($)	Dec. 31, 2023	Oct. 24, 2023	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Oct. 31, 2023	Dec. 31, 2022
Subsequent Events [Line Items]
Costs related acquisition		$ 95,000,000
Operating expense			$ 554,741	$ 589,691
Consideration received purchase				$ 10,500,000
Share issued (in Shares)		1,444,581	18,386,920	18,386,920			18,288,571
Aggregate principal amount			$ 40,000,000	$ 40,000,000
Equal principal percentage	1.25%
Loan origination fees			$ 300,000	$ 300,000
Healthy Offers, Inc [Member] \| Subsequent Event [Member]
Subsequent Events [Line Items]
Acquisition outstanding shares						100%