Financial Performance - Total revenue for Q3 2023 was $1,967,277, a decrease of $339,102 or 14.7% from $2,306,379 in Q3 2022[100] - Professional services revenue decreased by $192,712 or 9.1% to $1,921,300 in Q3 2023 from $2,114,012 in Q3 2022[100] - Gross profit for Q3 2023 was $649,812, down by $88,784 or 12.0% compared to $738,596 in Q3 2022[101] - Total revenue for the nine months ended September 30, 2023, was $6,152,022, a decrease of $2,900,389 or 32.0% from $9,052,411 in the prior year[105] - Gross profit for the nine months ended September 30, 2023, decreased by $327,284 or 14.0% to $2,011,623 compared to $2,338,907 in the prior year[106] Operating Loss and Expenses - Operating loss from continuing operations improved to $516,845 in Q3 2023, a reduction of $613,273 or 54.3% from a loss of $1,130,118 in Q3 2022[103] - Total Selling, General and Administrative (SG&A) expenses decreased by $2,312,807, from $6,745,357 in 2022 to $4,432,550 in 2023, primarily due to reductions in salaries, stock-based compensation, and legal fees[108] - The operating loss from continuing operations decreased by 77.8%, from $4,406,450 in 2022 to $978,459 in 2023, attributed to a litigation settlement gain of $1,442,468 and reduced SG&A expenses[109] - Discontinued operations resulted in a net loss of $335,993 in 2023, a significant improvement compared to a loss of $3,052,648 in 2022, reflecting a decrease in operating expenses and the sale of GMI[110] Cash Flow and Liquidity - As of September 30, 2023, the company had a net working capital of $537,375, with cash and cash equivalents totaling $877,198[116] - The company anticipates using $1.0 million to $1.5 million in operating activities over the next twelve months, indicating potential liquidity challenges[118] - The company received $1,400,000 from GMDC in August 2023, which included proceeds from the sale of common stock and contingent consideration[119] Strategic Focus and Growth - The company is focusing on organic growth and acquisitions, particularly in professional services, which are viewed as higher margin[98] - The company plans to leverage resources from the acquisition of Tellenger to capitalize on growth in the cybersecurity market[95] - The company plans to raise additional capital to support growth and is exploring strategic alternatives, including potential mergers or sales[117] Financial Management and Compliance - The company has no commitments for capital spending or plans for material capital expenditures, indicating a conservative approach to financial management[119] - The company has effective disclosure controls and procedures in place as of September 30, 2023, ensuring compliance with SEC regulations[121] - The company sold its remaining 24.9% interest in Gray Matters, Inc. for $400,000 in cash, recognizing a gain of $64,525[91]

Revenue Performance - Total revenue for Q2 2023 was $2,024,622, a decrease of 46.0% from $3,750,520 in Q2 2022, primarily due to reduced third-party software sales[107] - Total revenue for the six months ended June 30, 2023, was $4,184,745, a decrease of 38.0% from $6,746,032 in the same period in 2022[112] - The sale of GMI to GMDC on March 17, 2023, resulted in a revenue decrease of $566,862 and a gross profit decrease of $220,242 for the first half of 2023 compared to the same period in 2022[117] Professional Services - Professional services revenue decreased by 13.6% to $1,967,957 in Q2 2023 from $2,277,832 in Q2 2022, driven by fewer resources deployed on a software modernization project[107] - The company is focusing on organic growth and acquisitions, particularly in professional services, to enhance margins and expand its market presence[106] Gross Profit - Gross profit for Q2 2023 was $705,013, down 22.0% from $903,841 in Q2 2022, with professional services gross profit as a percentage of revenue declining from 37.5% to 35.8%[108] - Gross profit for the six months ended June 30, 2023, decreased by 14.9% to $1,361,811 from $1,600,311 in the prior year[113] Operating Income and Loss - Operating income from continuing operations improved to $493,116 in Q2 2023, compared to a loss of $1,599,270 in Q2 2022, largely due to a gain on litigation settlement[110] - The operating loss from continuing operations for the first half of 2023 was $461,614, a decrease of $2,814,718 or 85.9% compared to the first half of 2022[116] - The company generated a net loss from continuing operations of $779,174 for the six months ended June 30, 2023[123] Expenses - Total selling, general and administrative (SG&A) expenses for Q2 2023 were $1,654,365, down 33.9% from $2,503,111 in Q2 2022[109] - Total SG&A expenses for the six months ended June 30, 2023, were $3,265,893, a decrease of 33.0% from $4,876,643 in the same period in 2022[115] Discontinued Operations - The company sold 75.1% of its Gray Matters, Inc. subsidiary on March 17, 2023, and has reflected it as a discontinued operation[100] - The net loss on discontinued operations for the first half of 2023 was $335,993, a decrease of $813,497 compared to a net income of $477,504 in the first half of 2022[117] Cash Flow and Capital Needs - As of June 30, 2023, the company had a net working capital deficit of $780,357, with cash and cash equivalents of $338,300[123] - The company anticipates needing to raise additional capital by the first quarter of 2024 to meet ongoing operating cash flow requirements[124] - Cash used for continuing operations during the second quarter of 2023 was $389,177, with an anticipated total cash usage of approximately $1.0 million to $1.5 million over the next twelve months[125] - On August 9, 2023, the company received $1,400,000 from GMDC as proceeds from the sale of common stock and contingent consideration[125] - The company repaid $500,000 on its line of credit with Summit bank on August 9, 2023, and is finalizing an extension of the line of credit expiration date to December 31, 2023[125] - The company has no commitments for capital spending or plans for material capital expenditures[125]

Financial Performance - Total revenue for the three months ended March 31, 2023, was $2,160,123, a decrease of $835,389 or 27.9% compared to $2,995,512 in the prior year quarter[98] - Professional services revenue increased by 1.8% to $2,103,458 in Q1 2023 from $2,066,690 in Q1 2022, while third-party software sales accounted for only 2.6% of total sales in Q1 2023, down from 31.0% in the prior year quarter[99] - Gross profit decreased by $39,672 or 5.7% to $656,798 for Q1 2023, with professional services gross profit as a percentage of revenue declining from 32.7% to 31.2%[100] - Operating loss from continuing operations was $954,730 in Q1 2023, a decrease in loss of $722,332 or 43.1% compared to $1,677,062 in Q1 2022, primarily due to a reduction in SG&A expenses[102] Expenses and Liabilities - Total SG&A expenses decreased by $762,004 to $1,611,528 in Q1 2023 from $2,373,532 in Q1 2022, with significant reductions in legal and professional fees and acquisition costs[101] - Current liabilities as of March 31, 2023, amounted to $2,178,281, excluding $1.0 million outstanding under the bank line of credit[110] - The bank line of credit expired on May 16, 2023, and the Company is in discussions to extend it[110] - The Company reached a settlement with the seller of GMI, eliminating the obligation to pay deferred acquisition consideration of $1,435,576[110] Cash Flow and Working Capital - As of March 31, 2023, the Company had net working capital of $97,217, with cash and cash equivalents totaling $814,722[108] - The Company generated a loss from continuing operations of $1,013,959 and had an accumulated deficit of $32,540,753 as of March 31, 2023[108] - Cash consideration from the sale of GMI provided the Company with $935,974 in March 2023[109] - The Company anticipates using approximately $1.5 million to $2.0 million in operating activities over the next twelve months[110] Strategic Initiatives - The company has modernized over 100 million lines of COBOL code for over 35 governmental and commercial customers, maintaining a competitive advantage in a shrinking labor pool of COBOL programmers[94] - The acquisition of Tellenger, Inc. in April 2021 enhanced the company's capabilities in web-based solutions and cybersecurity, positioning it for growth in the modernization and cybersecurity markets[95] - The company plans to grow organically and through acquisitions, focusing on professional services viewed as higher margin and increasing its bidding activity on government contracts[97] Customer Dependency - The company is dependent on a few key customer contracts for a significant portion of future revenue, and any reduction in services to these contracts could adversely affect anticipated operating results[88] Discontinued Operations - The company sold 75.1% of its Gray Matters, Inc. subsidiary on March 17, 2023, resulting in GMI being treated as a discontinued operation[91] Shareholder Information - The Company received 993,768 common shares of GMDC, representing 19.0% of the fully diluted capitalization[107] Capital Expenditures - The Company has no commitments for capital spending or plans for material capital expenditures[111]

Financial Reporting and Compliance - Management's estimates and assumptions in financial reporting are subject to change, which may adversely affect operating results and stock price [101]. - The company must maintain effective internal controls over financial reporting to ensure accuracy and timeliness, as required by the Sarbanes-Oxley Act [102]. - Changes in accounting principles could lead to unfavorable charges that adversely affect financial results and growth prospects [105]. - The company faces increased legal and financial compliance costs due to public company requirements, which may divert management's attention from core business activities [123]. - The evolving regulatory landscape may create uncertainty and increase compliance costs, impacting operational efficiency [125]. - Future financing may require compliance with restrictive covenants, and violations could accelerate debt maturity and limit distributions to shareholders [120]. Dividend and Financing Strategy - The company does not intend to pay dividends for the foreseeable future, focusing instead on retaining earnings for business expansion [113]. - The issuance of additional stock could dilute existing shareholders' investments and potentially decrease the market price of common stock [111]. - The company may seek credit facilities to fund operations, which could expose it to additional risks associated with leverage [118]. - The company may need to engage in equity or debt financings to support growth, which could lead to significant dilution for existing shareholders [122]. Leadership and Human Resources - The company is highly dependent on the services of its Chief Executive Officer, Jamie Benoit, whose leadership is critical to its market presence and strategic direction [126]. - The company faces intense competition for highly skilled personnel, which may hinder its ability to hire and retain qualified employees necessary for its operations [130]. - Organizational changes and leadership transitions may lead to uncertainty and disruptions, increasing the likelihood of turnover among key personnel [127]. - The company does not maintain key person life insurance policies on its key employees, which poses a risk if any of them resign or cease to provide services [129]. Operational Risks and Challenges - The company’s results of operations may vary significantly from period to period, affecting the trading price of its common stock [132]. - The company must continue to improve its operational, financial, and management systems to achieve organic growth and maintain its competitive edge [138]. - The company is subject to risks from natural disasters and man-made problems, which could disrupt its supply chain and impact sales [142]. - The company must keep pace with rapidly changing technology in the IT industry to avoid negative impacts on its business [143]. - The company’s ability to attract and retain customers is influenced by its brand reputation and the quality of its security solutions and services [138]. - The company may face substantial costs and management distractions from potential litigation, which could harm its financial condition and results of operations [141].

Financial Performance - Total revenue for Q2 2022 was $4,317,382, a decrease of 8.8% from $4,731,961 in Q2 2021[108] - Gross profit for Q2 2022 decreased by 2.7% to $929,781 compared to $955,928 in Q2 2021[109] - Loss from operations in Q2 2022 was $1,724,157, a decrease of $1,778,135 compared to income from operations of $53,979 in Q2 2021[114] - Total revenue for the six months ended June 30, 2022, was $7,312,984, down 10.3% from $8,151,541 in the same period in 2021[115] - Gross profit for the six months ended June 30, 2022, was $1,305,846, a decrease of $669,732 or 33.9% compared to $1,975,578 in the same period of 2021[116] - Loss from operations was $4,509,745 for the six months ended June 30, 2022, a decrease of $4,832,594 from income of $322,849 in the same period of 2021[121] Expenses - Selling, general and administrative expenses increased significantly to $3,240,388 in Q2 2022, up from $819,193 in Q2 2021, reflecting a rise of $2,421,195[111] - SG&A expenses increased significantly to $5,954,730 for the six months ended June 30, 2022, up by $4,455,287 from $1,499,443 in 2021, driven primarily by personnel costs and legal fees[118] - The increase in personnel costs for SG&A was $1,372,917, rising from $904,524 in 2021[118] - Legal and professional fees surged to $1,006,415 in 2022, an increase of $913,071 from $93,344 in 2021[118] - Acquisition costs totaled $790,861 for the six months ended June 30, 2022, compared to $153,286 in the same period of 2021, related to the terminated acquisition of Knowmadics[119] Acquisitions and Growth Strategy - The company incurred acquisition expenses totaling $356,159 in 2022, compared to $82,756 in 2021[112] - The Gray Matters acquisition is expected to generate revenue, but delays in revenue recognition have impacted financial projections[94] - The contingent liability related to the Gray Matters acquisition was recorded at $930,000, with potential additional consideration of up to $4,000,000 based on performance[113] - The contingent liability related to the Gray Matters acquisition was recorded at $930,000, reflecting delays in revenue recognition that do not adversely affect long-term prospects[120] - The company aims to grow through acquisitions and has identified cybersecurity and cloud solutions as key growth areas[106] - The company intends to prioritize acquisition targets that are immediately accretive to operating cash flow while requiring additional capital to support its strategy[123] Working Capital and Financing - As of June 30, 2022, the company had working capital of approximately $1.0 million, including cash and cash equivalents of $0.6 million, and an accumulated deficit of $17.0 million[123] - The company raised $1,875,000 through the sale of 1,562,506 unregistered shares at $1.20 per share in August 2022 to support its growth strategy[123]

Financial Performance - Total revenues for the three months ended March 31, 2022, were $2,995,512, a decrease of 12.4% compared to $3,419,580 for the same period in 2021[12] - Gross profit for Q1 2022 was $376,065, down 63.1% from $1,019,650 in Q1 2021[12] - Net loss for the three months ended March 31, 2022, was $2,078,307, compared to a net income of $270,815 in the same period of 2021[12] - For the three months ended March 31, 2022, total revenue was $2,995,512, a decrease of 12.4% from $3,419,580 in the same period of 2021[38] - The net loss for the three months ended March 31, 2022, was $2,078,307, compared to a net loss of $577,394 for the same period in 2021[63] - Basic loss per share for the three months ended March 31, 2022, was $(0.12), while it was $0.02 for the same period in 2021[81] Cash and Assets - Cash and cash equivalents decreased to $2,999,201 as of March 31, 2022, from $4,931,302 at the end of 2021, representing a decline of 39.3%[13] - Total assets decreased to $21,222,990 as of March 31, 2022, down from $23,362,643 as of December 31, 2021, a reduction of 9.2%[10] - Accounts receivable as of March 31, 2022, totaled $1,672,072, with billed receivables from the federal government amounting to $1,625,138[40] - As of March 31, 2022, the balance of deferred costs of revenue was $101,656, down from $154,218 as of December 31, 2021, reflecting a decrease of approximately 34%[45] Liabilities and Expenses - Total liabilities as of March 31, 2022, were $5,521,150, a decrease from $5,921,471 at the end of 2021, reflecting a decline of 6.8%[10] - Selling, general and administrative expenses surged to $2,714,342 in Q1 2022, compared to $680,250 in Q1 2021, an increase of 299.0%[12] - The total expense incurred related to operating leases was $56,414 for the three months ended March 31, 2022, compared to $26,122 for the same period in 2021, representing an increase of approximately 116%[51] Acquisitions and Strategic Initiatives - The acquisition of Gray Matters, Inc. in December 2021 is part of the company's strategy to expand its offerings beyond systems modernization services[17] - The total purchase price for Tellenger, Inc. was $2,515,357, which included $2,315,357 in cash and $200,000 in common shares[55] - The acquisition of Gray Matters, Inc. had a total purchase price of $11,005,100, which included net cash consideration of $7,240,100 and common stock valued at $1,500,000[57] - The total assets acquired from Gray Matters included goodwill of $4,560,099, reflecting the value of human capital and strategic opportunities[60] Revenue Sources - Revenue from prime contracts with U.S. government agencies represented 34.3% of total revenue, while subcontracts under federal procurements accounted for 65.1%[24] - The company recognized revenue from services under time and materials arrangements at $1,912,996, representing 64.0% of total revenue for the three months ended March 31, 2022[38] - One prime contract accounted for 27.9% of total revenue, while three subcontracts represented 26.9%, 16.0%, and 11.0% of revenue, respectively[24] - The company sold third-party software and maintenance contracts that accounted for 30.5% of total revenue during the three months ended March 31, 2022[26] Stock-Based Compensation - The company reported stock-based compensation of $312,176 for the three months ended March 31, 2022, compared to $27,711 in the same period of 2021[14] - Total stock-based compensation expense for the three months ended March 31, 2022, was $312,176, compared to $27,711 for the same period in 2021[70] - There were 912,000 options granted with a total fair value of $2,074,670 during the three months ended March 31, 2022[69] - The company has three stock-based compensation plans, with the latest plan approved in December 2021[66] Tax and Compliance - The company has no material uncertain tax positions and no interest or penalties accrued as of March 31, 2022[23] - The effective tax rate for the three-month period ended March 31, 2022, was 25.89%, while it was 0% for the same period in 2021[79] COVID-19 Impact - The company continues to monitor the impact of the COVID-19 pandemic on its business, although no significant adverse effects have been reported as of March 31, 2022[29] Lease Obligations - The present value of lease liabilities as of March 31, 2022, was $652,633, with total future lease payments amounting to $716,649[51] - The company has a weighted average remaining lease term of 42 months and a weighted average discount rate of 4.5% as of March 31, 2022[51]

Business Strategy and Acquisitions - The company repositioned its legacy professional services business by focusing on higher-margin professional services, particularly in the SCM sector, following acquisitions of Tellenger and Gray Matters in 2021[26] - The company plans to acquire Knowmadics, Inc. to enhance its focus on IoT, pending stockholder approval and financing[26] - The company is expanding its blockchain-enabled supply chain management capabilities through the acquisition of Gray Matters, with products currently deployed for U.S. government requirements[33] Government Contracts and Clientele - The company has provided modernization solutions to over 40 government and private sector clients, focusing on legacy system modernizations and cloud migrations[30] - Tellenger's current contracts extend into 2023 and 2024, indicating ongoing revenue generation from government clients[34] Market Trends and Competition - The cybersecurity and cloud solutions markets are among the fastest-growing segments, with increasing demand for sophisticated web applications[37] - The company faces strong competition in the modernization market from larger firms with more resources, highlighting the need for strategic positioning[44] Workforce and Development - The company aims to enhance its business development efforts by hiring personnel and proactively bidding on government proposals[27] - The company employs 51 full-time and 4 part-time individuals, with all billable professionals having at least four years of related experience, contributing to a stable workforce[52] Corporate Visibility - The company has upgraded its listing from the OTCQB to the Nasdaq Capital Market in November 2021, indicating a strategic move to enhance visibility and credibility[28]

Financial Performance - Total revenue for the three months ended September 30, 2021, was $4,299,925, an increase of $377,179, or 9.6% compared to the prior year[96] - For the nine months ended September 30, 2021, total revenue was $12,451,467, an increase of $1,647,570, or 15.2% compared to the prior year[102] - Gross profit for the three months ended September 30, 2021, increased by $364,548, or 59.3%, to $978,875, with a gross profit margin of 22.8%[97] - Gross profit for the nine months ended September 30, 2021, increased by $1,672,282, or 130.4%, to $2,954,453, with a gross profit margin of 23.7%[103] Revenue Sources - Professional fees increased by $1,217,421, or 77.0%, while software sales revenue decreased by $840,242, or 35.9% for the same period[96] - Professional fees for the nine months increased by $5,212,131, or 155.4%, while software sales revenue decreased by $3,564,561, or 47.8%[102] - Three subcontracts represented 54.4% of revenue and 87.9% of gross profit for the three months ended September 30, 2021[91] - The acquisition of Tellenger contributed approximately two-thirds of the increase in professional fees for the third quarter[96] Expenses and Financial Management - The company incurred legal, accounting, and other acquisition-related expenses totaling $39,245 in the third quarter of 2021[99] - The Company accrued $545,152 through July 31, 2021, related to a subcontract, which was fully invoiced on September 8, 2021[113] - The Company has no material commitments for capital expenditures as of the reporting date[114] Corporate Developments - The Company upgraded its listing from OTC pink sheets to OTCQB and has a pending application to list on the NASDAQ Capital Market[90] - The Company established a new position of Senior Vice President & Corporate Controller in September 2021 to enhance financial reporting oversight[116] - Tellenger, Inc. has been fully integrated into the Company's internal controls over financial reporting, with migration to the primary accounting system expected by the start of 2022[116] Loan and Cash Management - The Company received a Paycheck Protection Program loan of $450,000 on April 20, 2020, with a fixed interest rate of 1% and a term of two years[112] - The Company expects its application for loan forgiveness to be fully resolved during the fourth quarter of 2021[112] - The Company anticipates being able to meet its cash requirements for at least one year from the filing date of the Quarterly Report[113] Internal Controls and Legal Matters - There were no changes in the Company's internal control over financial reporting that materially affected its effectiveness during the quarter ended September 30, 2021[116] - The Company believes its disclosure controls and procedures provide reasonable assurance of achieving their objectives despite inherent limitations[117] - There are no legal proceedings against the Company as of the reporting date[119]

Financial Performance - Total revenue for the second quarter of 2021 decreased by 1.8% compared to the same period in 2020, while revenue from professional fees increased by $2.4 million, or 258.5%[108] - Gross profit for the second quarter of 2021 increased by $566,912, or 145.7%, reaching $955,928, with an overall gross profit margin of 20.2%, up from 8.1% in 2020[109] - For the three months ended June 30, 2021, three subcontracts represented 47.5% of total revenue and 85.7% of gross profit[103] - Income from operations for the first six months of 2021 was $322,849, compared to a loss of $162,057 in 2020, marking a difference of $484,906[118] - The gross profit margin for professional fees in the first six months of 2021 was 33.0%, while software sales contributed a gross profit margin of only 3.1%[115] Acquisition and Integration - The acquisition of Tellenger, Inc. contributed to a $4.0 million increase in professional fees revenue, or 225.3%, in the first six months of 2021[114] - Selling, general and administrative expenses (SG&A) increased by $638,817 in the first six months of 2021, partly due to the incorporation of Tellenger's administrative structure[116] - The company incurred acquisition costs of $153,286 related to the Tellenger acquisition in the first six months of 2021[117] - The integration of Tellenger, Inc. into the company's internal control systems is expected to be completed by the start of the 2022 calendar year[128] Liquidity and Financing - Cash balance at June 30, 2021, was $1,532,764, indicating sufficient liquidity for operations[119] - The company secured a $1 million term loan and a $1 million revolving line of credit, with a current balance of $916,667 and $402,306 respectively as of June 30, 2021[120] - A private placement raised $495,999 in March 2021, with an additional $83,545 from exercised stock options through June 30, 2021[121] - The company accrued $477,268 through June 30, 2021, related to a financing component of a subcontract, with expectations to release the total amount in Q4 2021[123] - The company received a $450,000 Paycheck Protection Program loan on April 20, 2020, with a fixed interest rate of 1% and a two-year term[122] Operational Developments - A lease for new headquarters in Fairfax, Virginia, was executed to begin on July 1, 2021, to meet foreseeable facility requirements[124] - There were no material commitments for capital expenditures reported[125] Compliance and Controls - The company’s disclosure controls and procedures were evaluated as effective as of June 30, 2021[127] - There were no changes in internal control over financial reporting that materially affected the company during the quarter ended June 30, 2021[128] - No legal proceedings were reported against the company[131] Future Plans - The company plans to elevate its common stock to trade on a major exchange before the end of 2021[102]

Revenue and Profitability - Revenue for the first quarter of 2021 was $3,419,580, an increase of $1,357,824 or 65.9% compared to $2,061,756 in the first quarter of 2020[90] - Professional fee revenue increased to $2,439,259 in Q1 2021, up $1,594,856 or 188.9% from $844,403 in Q1 2020[90] - Gross profit for Q1 2021 was $1,019,650, representing 29.8% of revenue, compared to $278,827 or 13.5% of revenue in Q1 2020[91] - Net income for Q1 2021 was $270,815, or 7.9% of revenue, compared to a net loss of ($126,339), or (6.1%) of revenue in Q1 2020[95] - Software revenue decreased to $980,321 in Q1 2021, down $237,032 or 19.5% from $1,217,353 in Q1 2020[90] Expenses and Financial Position - Selling, general and administrative expenses were $545,663, or 16.0% of revenues, in Q1 2021, an increase of $204,850 or 60.1% from Q1 2020[92] - The company raised $499,549 in equity transactions and borrowed $500,000 from its line of credit, resulting in a cash balance of $3,015,943 at March 31, 2021[96] - As of March 31, 2021, the company had a revolving line of credit with a bank for up to $1,000,000, with $500,000 outstanding[97] - On April 16, 2021, the company secured a $1 million 24-month term loan and a $1 million revolving line of credit for the Tellenger acquisition[98] - The company received a Paycheck Protection Program loan of $450,000 on April 20, 2020, with a fixed interest rate of 1% and a term of two years[99] - The company anticipates being able to meet its cash requirements for at least one year from the filing date of the Quarterly Report[100] Acquisitions and Business Strategy - The company acquired Tellenger, Inc. on April 7, 2021, to enhance its capabilities in cyber security, cloud services, and data analytics[78] - The company is exploring additional acquisition opportunities that align with its business plan and complement its current operations[81] Government Contracts - Prime contracts with U.S. government agencies generated 41.1% of revenue, while subcontracts under federal procurements accounted for 57.6% of revenue in Q1 2021[86] Lease and Commitments - The current lease for corporate offices expires on June 30, 2021, with a new lease expected to commence on July 1, 2021[101] - The company has no material commitments for capital expenditures[102]