PAYD Paid Inc (PK)

PART I – FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS

PAID, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

 

 

See accompanying notes to condensed consolidated financial statements

 

 

PAID, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited)

 

 

See accompanying notes to condensed consolidated financial statements

 

 

PAID, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30,

(Unaudited)

 

 

See accompanying notes to condensed consolidated financial statements

 

 

PAID, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2022

(Unaudited)

 

 

 

PAID, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2023

(Unaudited)

 

 

See accompanying notes to condensed consolidated financial statements

 

 

PAID, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

June 30, 2023

 

Note 1. Organization and Significant Accounting Policies

 

PAID, Inc. (“PAID”, the “Company”, “we”, “us”, or “our”) has developed a full line of SaaS-based business services including PaidPayments, PaidCart, PaidShipping and PaidWeb.  These solutions are developed to provide businesses with a streamlined experience for website creation, online sales, payment collection and shipping all in one platform.

 

PaidWeb offers a robust platform enabling small and medium businesses to launch websites via our catalog of templates. Our platform includes a wide array of features such as mobile editing, search engine optimization, collaboration tools, pre-designed templates, and can be integrated with multiple platforms. PaidCart serves as a comprehensive solution for small and medium businesses looking to expand their online sales through multiple channels. It provides a centralized system to manage sales across various platforms, with additional functionalities for currency and language management, promotional sales, and abandoned cart recovery. PaidPayments and PaidShipping seamlessly interface with PaidCart to facilitate the checkout and shipping processes. Operating as a Payment Facilitator since 2019, PaidPayments provides businesses with a secure and efficient way to conduct online transactions including a virtual terminal, invoicing capability, subscriptions processing, checkout pages, and a point-of-sale system with support for USD, CAD, and EUR currencies. PaidShipping delivers a solution to quote, process, generate labels, dispatch and track courier and LTL shipments all from a single interface. We offer savings through partnerships with leading carriers. It includes a multi-courier comparison tool, integrations with eCommerce platforms and branded tracking.

 

ShipTime Canada Inc. (“ShipTime”) has developed a SaaS-based application, which focuses on the small and medium business segments. This offering allows members to quote, process, generate labels, dispatch and track courier and LTL shipments all from a single interface. The application provides customers with a choice of today’s leading couriers and freight carriers all with discounted pricing allowing members to save on every shipment. ShipTime can also be integrated into on-line shopping carts to facilitate sales via e-commerce. We actively sell directly to small and medium businesses and through long standing partnerships with selected associations throughout Canada. 

 

AuctionInc, which is a suite of online shipping and tax management tools assisting businesses with e-commerce storefronts, shipping solutions, tax calculation, and auction processing. The product has tools to assist with other aspects of the fulfillment process, but the main purpose of the product is to provide accurate shipping and tax calculations and packaging algorithms that provide customers with the best possible shipping and tax solutions. Paid also offers BeerRun Software which is a brewery management and Alcohol and Tobacco Tax and Trade Bureau tax reporting software. Small craft brewers can utilize the product to manage brewery schedules, inventory, packaging, sales and purchasing. Tax reporting can be processed with a single click and is fully customizable by state or province.

 

General Presentation and Basis of Condensed Consolidated Financial Statements

 

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), and with the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2022 that was filed on March 31, 2023.

 

In the opinion of management, the Company has prepared the accompanying unaudited condensed consolidated financial statements on the same basis as its audited consolidated financial statements, and these unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments necessary for a fair presentation of the results of the interim periods presented. The operating results for the interim periods presented are not necessarily indicative of the results expected for the full year 2023.

 

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Liquidity and Management’s Plans

 

At June 30, 2023, the Company reported cash and cash equivalents of $1,900,723 and net working capital of $2,052,199 and reported cash flows provided by operations of $79,502 for the six months ended June 30, 2023. The Company has reported an operating loss of $486,898 for the six months ended June 30, 2023 and has an accumulated deficit of $69,908,158 at June 30, 2023.

 

Management believes that the Company has adequate cash resources to fund operations during the next 12 months after the filing of this quarterly report on Form 10-Q. In addition, management continues to explore opportunities and has organized additional resources to monetize its patents. However, there can be no assurance that anticipated growth in new business will occur, and that the Company will be successful in launching new products and services. Management continues to seek alternative sources of capital to support the growth of future operations.

 

Although there can be no assurances, the Company believes that the above management plans will be sufficient to meet the Company’s working capital requirements through the end of August 2024 and will have a positive impact on the Company for the foreseeable future.

 

Principles of Consolidation

 

The condensed consolidated financial statements include the accounts of PAID, Inc. and its wholly owned subsidiaries, PAID Run, LLC and ShipTime Canada, Inc. All intercompany accounts and transactions have been eliminated.

 

Foreign Currency

 

The currency of ShipTime, the Company’s international subsidiary, is in Canadian dollars. Foreign currency denominated assets and liabilities are translated into U.S. dollars using the exchange rates in effect at June 30, 2023 and December 31, 2022. Results of operations and cash flows are translated using the average exchange rates throughout the period. The effect of exchange rate fluctuations on translation of assets and liabilities is included as a separate component of shareholders’ equity in accumulated other comprehensive income.

 

Geographic Concentrations

 

The Company conducts business in the U.S. and Canada. For customers headquartered in their respective countries, the Company derived approximately 99% of its revenues from Canada and 1% from the U.S. during the three and six months ended June 30, 2023 and 2022.

 

At June 30, 2023, the Company maintained 100% of its property and equipment, net of accumulated depreciation, in Canada.

 

Right of Use Assets

 

A right-of-use asset represents a lessee’s right to use a leased asset for the term of the lease. Our right-of-use assets generally consist of an operating lease for a building.

 

Right-of-use assets are measured initially at the present value of the lease payments, plus any lease payments made before a lease began and any initial direct costs, such as commissions paid to obtain a lease.

 

Right-of-use assets are subsequently measured at the present value of the remaining lease payments, adjusted for incentives, prepaid or accrued rent, and any initial direct costs not yet expensed.

 

Long-Lived Assets

 

The Company reviews the carrying values of its long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the expected future cash flow from the use of the asset and its eventual disposition is less than the carrying amount of the asset, an impairment loss is recognized and measured using the fair value of the related asset. No impairment charges were recognized during the three and six months ended June 30, 2023 and 2022. There can be no assurance, however, that market conditions will not change or demand for the Company’s services will continue, which could result in impairment of long-lived assets in the future.

 

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Revenue Recognition

 

The Company generates revenue principally from fees for coordinating shipping services, sales of shipping calculator subscriptions, brewery management software subscriptions, merchant processing services and client services.

 

The Company recognizes revenue by taking into consideration the following five steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. Due to the nature of the Company’s product offerings and contracts associated with those products, the Company’s deliverables do not fluctuate, and its revenue recognition is consistent.

 

Nature of Goods and Services

 

For label generation service revenues, the Company recognizes revenue when a customer has successfully prepared a shipping label and scheduled a pickup. Customers with pickups after the end of the reporting period are recorded as contract liabilities on the condensed consolidated balance sheets. The service is offered to consumers via an online registration and allows users to create a shipping label using a credit card on their account (all customers must have a valid credit card on file to process shipments on the ShipTime platform).

 

For shipping calculator revenues and brewery management software revenues, the Company recognizes subscription revenue on a monthly basis. Shipping calculator customers’ renewal dates are based on their date of installation and registration of the shipping calculator line of products. The timing of the revenue recognition and cash collection may vary within a given quarter and the deposits for future services are recorded as contract liabilities on the condensed consolidated balance sheets. Brewery management software subscribers are billed monthly at the first of the month. All payments are made via credit card for the following month.

 

Merchant processing revenue consists of fees a seller pays us to process their payment transactions and is recognized upon authorization of a transaction. Revenue is recognized net of estimated refunds, which are reversals of transactions initiated by sellers. We act as the merchant of record for our sellers, which puts us in their shoes with respect to card networks and puts the risk for refunds and chargebacks on us. The gross transaction fees collected from sellers is recognized as revenue as we are the primary obligor to the seller and are responsible for processing the payment, have latitude in establishing pricing with respect to the sellers and other terms of service, have sole discretion in selecting the third party to perform the settlement, and assume the credit risk for the transaction processed.

 

Revenue Disaggregation

 

The Company operates in six reportable segments (see below).

 

Performance Obligations

 

At contract inception, an assessment of the goods and services promised in the contracts with customers is performed and a performance obligation is identified for each distinct promise to transfer to the customer a good or service (or bundle of goods or services). To identify the performance obligations, the Company considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. Revenue is recognized when the performance obligation has been met, which is when the customer has successfully prepared a shipping label and scheduled a pickup for shipping coordination and label generation services. The Company considers control to have transferred at that time because the Company has a present right to payment at that time, the Company has provided the shipping label, and the customer is able to direct the use of, and obtain substantially all of the remaining benefits from the shipping label.

 

For arrangements under which the Company provides a subscription for shipping calculator services and brewery management software, the Company satisfies its performance obligations over the life of the subscription, typically twelve months or less.

 

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Customers of PaidPayments receive a merchant identification number which allows them to process credit card transactions. Once the transaction is approved, the funds are disbursed in an overnight feed and the Company has met its performance obligation.

 

The Company has no shipping and handling activities related to contracts with customers.

 

Revenues are recognized net of any taxes collected from customers, which are subsequently remitted to government authorities.

 

Significant Payment Terms

 

Pursuant to the Company’s contracts with its customers, amounts are collected up front primarily through credit/debit card transactions. The Company has offered its customers consolidated payments which are billed weekly and are paid with a credit card on file. Accordingly, the Company determined that its contracts with customers do not include extended payment terms or a significant financing component.

 

Variable Consideration

 

In some cases, the nature of the Company’s contracts may give rise to variable consideration, including rebates and cancellations or other similar items that generally decrease the transaction price.

 

Variable consideration is estimated at the most likely amount that is expected to be earned. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of the anticipated performance and all information (historical, current and forecasted) that is reasonably available.

 

Revenues are recorded net of variable consideration, such as rebates, refunds, and cancellations.

 

Warranties

 

The Company’s products and services are provided on an “as is” basis and no warranties are included in the contracts with customers. Also, the Company does not offer separately priced extended warranty or product maintenance contracts.

 

Contract Assets

 

Typically, the Company has already collected revenue from the customer at the time it has satisfied its performance obligation. Accordingly, the Company has only a small balance of accounts receivable, totaling $217,174 and $169,074 as of June 30, 2023 and December 31, 2022, respectively. The Company has no customers that made up 10% of the accounts receivable balance at June 30, 2023. Generally, the Company does not have material amounts of contract assets since revenue is recognized as control of goods is transferred or as services are performed.

 

Contract Liabilities (Deferred Revenue)

 

Contract liabilities are recorded when cash payments are received in advance of the Company’s performance (including rebates). Contract liabilities were $12,475 and $13,020 at June 30, 2023 and December 31, 2022, respectively. During the six months ended June 30, 2023, the Company recognized revenues of $13,020, related to contract liabilities outstanding at the beginning of the period.

 

Income (Loss) Per Common Share

 

Basic earnings (loss) per share represent income (loss) divided by the weighted-average number of common shares outstanding during the period. Diluted income (loss) per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income (loss) that would result from the assumed issuance. The potential common shares that may be issued by the Company relate to outstanding stock options and have been excluded from the computation of diluted income (loss) per share if they would reduce the reported loss per share and therefore have an anti-dilutive effect.

 

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For the the six months ended June 30, 2023, there was approximately 6,400 potentially dilutive shares excluded from the diluted loss per share calculation, as their effect would be anti-dilutive.

 

The following is a reconciliation of the numerators and denominators of the basic and diluted income (loss) per common share computations for the three and six months ended June 30, 2023 and 2022.

 

		Three Months Ended June 30, 2023				Three Months Ended June 30, 2022
Numerator:
Net income		$	57,174			$	80,000
Denominator:
Basic weighted-average shares outstanding			8,008,312				7,775,266
Effect of dilutive securities			4,983				25,996
Diluted weighted-average shares outstanding			8,013,295				7,801,262
Basic income per common share		$	0.01			$	0.01
Diluted income per common share		$	0.01			$	0.01

 

		Six Months Ended June 30, 2023				Six Months Ended June 30, 2022
Numerator:
Net income (loss)		$	(237,754	)		$	19,546
Denominator:
Basic weighted-average shares outstanding			7,866,386				7,774,270
Effect of dilutive securities			-				29,874
Diluted weighted-average shares outstanding			7,866,386				7,804,144
Basic income (loss) per share		$	(0.03	)		$	-
Diluted income (loss) per share		$	(0.03	)		$	-

 

Segment Reporting

 

The Company reports information about segments of its business in its annual consolidated financial statements and reports selected segment information in its quarterly reports issued to shareholders. The Company also reports on its entity-wide disclosures about the products and services it provides and reports revenues and its major customers. The Company’s six reportable segments are managed separately based on fundamental differences in their operations. At June 30, 2023, the Company operated in the following six reportable segments:

 

a.	Client services;
b.	Shipping calculator services;
c.	Brewery management software;
d.	Merchant processing services;
e.	Shipping coordination and label generation services; and
f.	Corporate operations

 

The Company evaluates performance and allocates resources based upon operating income. The accounting policies of the reportable segments are the same as those described in this summary of significant accounting policies. The Company’s chief operating decision maker is the Chief Executive Officer/Chief Financial Officer.

 

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The following table compares total revenue for the periods indicated.

 

		Three Months Ended								Six Months Ended
		June 30, 2023				June 30, 2022				June 30, 2023				June 30, 2022
Client services		$	28			$	477			$	66			$	757
Shipping calculator services			516				987				1,168				6,531
Brewery management software			8,275				8,356				16,250				17,731
Merchant processing services			15,375				4,445				40,218				16,498
Shipping coordination and label generation services			4,106,187				4,521,400				7,878,954				8,103,849
Total revenues		$	4,130,381			$	4,535,665			$	7,936,656			$	8,145,366

 

The following table compares total income (loss) from operations for the periods indicated.

 

		Three Months Ended								Six Months Ended
		June 30, 2023				June 30, 2022				June 30, 2023				June 30, 2022
Client services		$	28			$	365			$	66			$	645
Shipping calculator services			(391	)			(1,076	)			(736	)			2,489
Brewery management software			4,348				(19,323	)			6,773				(24,066	)
Merchant processing services			4,937				(4,060	)			10,696				(21	)
Shipping coordination and label generation services			(54,978	)			214,784				(352,735	)			181,143
Corporate operations			(21,314	)			(31,601	)			(150,962	)			(60,655	)
Total income (loss) from operations		$	(67,370	)		$	159,089			$	(486,898	)		$	99,535

 

Subsequent Events

 

On July 25, 2023, the Board of Directors approved the terms of an amendment to the Convertible Note due from Embolx.  The note reached its maturity on July 19, 2023 and as it has not been paid in full, the face value of the note has increased by 20% (See Note 2). The amendment includes an investment of an additional $500,000 with a 25% original issue discount and a 2.75 times liquidation preference on the face value of the entire note receivable and an extension for nine months.

 

Recent Accounting Pronouncements

 

In September 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326)-Measurement of Credit Losses on Financial Instruments, (“ASU 2016-13”), supplemented by subsequent accounting standards updates. The new standard requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. ASU 2016-13, as amended, is effective for fiscal years beginning after December 15, 2022. We adopted ASU 2016-13 on January 1, 2023. As of June 30, 2023, the Company has $217,174 of accounts receivable and notes receivable of $1,854,167. Based on the nature of our accounts receivable and the process of granting credit and collecting debt we have determined that there are no expected credit losses for our accounts receivable. The Company has one note receivable and is a senior secure lender with an absolute obligation. Consideration has been taken into the contractual obligation, the valuation of the assets and the senior position of the repayment. We have determined that there are no expected credit losses for our note receivable. The adoption of this standard did not have a material impact on our consolidated financial statements or disclosures. Specifically, our estimate of expected credit losses as of June 30, 2023, using our expected credit loss evaluation process described above, resulted in no adjustments to the provision for credit losses and no cumulative-effect adjustment to accumulated deficit on the adoption date of the standard.

 

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Note 2. Note Receivable

 

On October 13, 2022, the Company entered in a Securities Purchase Agreement (“SPA”) with respect to a secured $1,875,000 convertible note (“Convertible Note”) made by Embolx, Inc. (“Noteholder”), a California corporation.  The Convertible Note was purchased at a 20% ($375,000) original issue discount and was subject to a 9-month maturity, after which, if unpaid will then carry a 20% interest rate. The Company has recognized $250,000 in other income related to accretion of the discount on the Convertible Note for the six months ended June 30, 2023.   The Company has the option to convert the Convertible Note into shares of common stock of the Noteholder.  The Convertible Note is secured by essentially all assets of the Noteholder.  Under the SPA, the Company has a right to purchase additional notes and receive warrants on the same terms for a total potential investment amount of $2,000,000 with an additional over-allotment option of $500,000 as defined in the SPA. As additional consideration, the Company received a 5-year warrant to purchase shares of common stock of the Noteholder.  The shares are subject to certain piggyback registration rights under a Registration Rights Agreement.  The warrant is offered at 50% of the original principal amount and will be valued at the price per share of common stock paid in the first liquidity event following October 19, 2022.  The warrants expire five years from the original issue date. As of July 19, 2023 the note was in default and will carry an additional 20% interest.  On July 25, 2023 the Company agreed upon an extension and amendment to the Convertible Note (see Note 1).

 

Note 3. Accrued Expenses

 

Accrued expenses are comprised of the following:

 

		June 30, 2023 (unaudited)				December 31, 2022
Payroll and related costs		$	148,271			$	195,803
Professional and consulting			-				3,685
Royalties			40,075				40,075
Accrued cost of revenues			190,064				168,657
Sales tax			22,228				22,228
Other			410				410
Total		$	401,048			$	430,858

 

Note 4. Intangible Assets

 

The Company holds several patents for the real-time calculation of shipping costs for items purchased through online auctions using a zip code as a destination location indicator. It includes shipping charge calculations across multiple carriers and accounts for additional characteristics of the item being shipped, such as weight, special packaging or handling, and insurance costs. These patents help facilitate rapid and accurate estimation of shipping costs across multiple shipping carriers and also include real-time calculation of shipping.

 

In addition, the Company has various other intangibles from past business combinations.

 

At June 30, 2023, intangible assets consisted of the following:

 

		Patents				Trade Name				Technology & Software				Customer Relationships				Total
Gross carrying amount		$	16,000			$	809,158			$	600,515			$	4,756,005			$	6,181,678
Accumulated amortization			(16,000	)			(809,158	)			(600,515	)			(2,176,790	)			(3,602,463	)
		$	-			$	-			$	-			$	2,579,215			$	2,579,215

 

At December 31, 2022, intangible assets consisted of the following:

 

		Patents				Trade Name				Technology & Software				Customer Relationships				Total
Gross carrying amount		$	16,000			$	789,212			$	587,776			$	4,644,033			$	6,037,021
Accumulated amortization			(16,000	)			(789,212	)			(587,776	)			(1,980,722	)			(3,373,710	)
		$	-			$	-			$	-			$	2,663,311			$	2,663,311

 

Amortization expense of intangible assets for the three months ended June 30, 2023 and 2022 was $74,514 and $78,472, respectively, and for the six months ended June 30, 2023 and 2022 was $148,580 and $160,511, respectively.

 

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Note 5. Commitments and Contingencies

 

Legal Matters

 

In the normal course of business, the Company periodically becomes involved in litigation and disputes. During 2021, the Company was notified of a dispute related to its non-renewal of the employment agreement with Mr. Allan Pratt, the Company's former President, CEO and Chairman. In February 2020, the Company did not renew Mr. Pratt’s employment agreement, but Mr. Pratt alleges in a court in Canada that the Company terminated him and that the Company owes him a severance payment. Around the same time that Mr. Pratt’s employment term expired, the Company’s Board of Directors voted to reduce the size of the Board from five to three, and Mr. Pratt and Mr. Austin Lewis, then CFO, automatically rolled off from the Board of Directors. More than a year later, in 2021, Mr. Pratt filed a claim in Delaware courts to contest that decision. In July 2022, Mr. Pratt amended the complaint to dispute the proper authorization of a stock bonus that was awarded to the Company’s CEO in March 2021. The Company has not recorded a reserve as the outcome of these matters cannot be determined.

 

Indemnities and Guarantees

 

The Company has made certain indemnities and guarantees, under which it may be required to make payments to a guaranteed or indemnified party, in relation to certain actions or transactions. The Company indemnifies its directors, officers, employees and agents, as permitted under the laws of the State of Delaware. In connection with its facility lease, the Company has agreed to indemnify its lessor for certain claims arising from the use of the facilities. The duration of the guarantees and indemnities varies and is generally tied to the life of the agreement. These guarantees and indemnities do not provide for any limitation of the maximum potential future payments the Company could be obligated to make. Historically, the Company has not been obligated nor incurred any payments for these obligations and, therefore, no liabilities have been recorded for these indemnities and guarantees in the accompanying condensed consolidated balance sheets.

 

Note 6. Shareholders’ Equity

 

Preferred Stock

 

The Company’s amended Certificate of Incorporation authorizes the issuance of 20,000,000 shares of blank-check preferred stock at $0.001 par value. The Board of Directors will be authorized to fix the designations, rights, preferences, powers and limitations of each series of the preferred stock.

 

The Company filed a Certificate of Designations effective on December 30, 2016, which sets aside 5,000,000 shares of Preferred Stock as Series A Preferred Stock. The Series A Preferred Stock carries a coupon payment obligation of 1.5% of the liquidation value per share ($3.03) per year in cash or additional Series A Preferred Stock, calculated by taking the 30-day average closing price for a share of common stock for the month immediately preceding the coupon payment date which is made annually. The Series A Preferred Stock has no voting or conversion rights. If purchased, redeemed, or otherwise acquired (other than conversion), the preferred stock may be reissued. As of June 30, 2023 and December 31, 2022, there are no outstanding shares of Series A Preferred Stock.

 

Common Stock

 

In February 2020, ShipTime Canada amended its rights to exchange one share of ShipTime Canada stock from 45 PAID common shares and 311 PAID preferred shares to 356 PAID common shares. The Company made available to its ShipTime Canada exchangeable preferred shareholders the one-time option to convert existing book entry preferred shares and exchangeable rights to preferred shares into PAID common shares. As a result, certain ShipTime exchangeable shareholders exercised their rights to receive 1,461,078 shares of PAID Series A Preferred Stock for 1,461,078 shares of PAID common stock. At the same time, the Company made available to its Series A Preferred Stock shareholder the option to exchange existing Series A preferred shares for PAID common shares. The exchange was offered on a one-to-one basis. Shareholders holding 1,015,851 shares of Series A Preferred Stock exchanged such shares for 1,015,851 shares of PAID common stock. Furthermore, because of the amended exchange rights, the Company reflected an additional exchange of PAID Series A Preferred Stock shares totaling 2,089,298 to PAID common shares, representing the additional amount of PAID common shares that will be issued to the ShipTime shareholders upon the exchange. During 2020, two shareholders sold 500 ShipTime exchangeable shares which were subsequently exchanged for 178,000 common shares. In total, the Company has reserved for future issuance of 2,106,808 shares of PAID common stock with respect to the remaining 5,918 exchangeable shares to be issued as a result of the ShipTime acquisition which are considered issued and outstanding as of June 30, 2023 for financial reporting purposes.

 

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On March 21, 2023, the Company’s Board of Directors authorized the issuance of 46,961 bonus shares of PAID common stock to the CEO/CFO, one additional officer and one employee for services rendered during 2022.  This bonus was valued at $82,180 based on the closing price of the Company’s common stock at March 20, 2023 and was issued in March 2023. This bonus was recorded in accrued common stock bonus in shareholders’ equity as of December 31, 2022.  The Board of Directors also authorized the issuance of an additional 250,000 shares to the CEO/CFO as a renewal bonus valued at $437,500. $218,750 of share-based compensation expense was recognized immediately as 125,000 of the bonus shares are immediately vested. The remaining $218,750 of share-based compensation expense will be recognized ratably during 2023 as 125,000 of the bonus shares are subject to repurchase if the CEO/CFO were to terminate employment during the period ended January 1, 2024. The Company recorded $54,688 and $328,126, respectively, of share-based compensation expense for the three-month and six-month periods ended June 30, 2023 in connection with these additional shares.

 

On March 21, 2023, the Company’s Board of Directors approved the terms of the employment agreement for David Scott, the Company’s COO.  Per the terms of the agreement the Company issued 13,889 shares of PAID common stock to the COO. This compensation was valued at $25,000 based on the closing price of the Company’s common stock at March 31, 2023 and the shares were issued on April 10, 2023.  The Company recorded $25,000 of share-based compensation expense for the three-month period ended June 30, 2023 in connection with the additional compensation. During the second quarter of 2022, the Company issued 13,021 shares valued at $1.92 per share for a total share-based compensation expense of $25,000 to one employee as bonus compensation which is included in share-based compensation in the condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2022.  The shares were issued pursuant to the exemption for registration provided by Section 4(a)(2) of the Securities Act and Rule 506 of the SEC’s Regulation D thereunder.

 

Share-based Incentive Plans

 

On March 23, 2018, the Board of Directors voted to approve the 2018 Stock Option Plan which reserves 450,000 non-qualified stock options to be granted to employees. The Company has three additional stock option plans that include both incentive and non-qualified stock options to be granted to certain eligible employees, non-employee directors, or consultants of the Company. On November 10, 2020, the board voted to increase the 2018 Stock Option Plan from 450,000 options to 900,000 options.

 

For the three-month and six-month periods ended June 30, 2023, the Company recorded $14,550 and $133,650, respectively, of share-based compensation expense related to the vesting of applicable options granted in 2023 and prior years. For the three- and six-month periods ended June 30, 2022, the Company recorded $16,916 and $35,012, respectively of share-based compensation expense related to the vesting of applicable options granted in 2022 and prior years.   

 

On May 12, 2023, the Company received a notice of exercise of options to purchase 3,500 common shares of the Company’s stock from one board member and one employee. The options were exercised at $0.975 per share and the Company received proceeds of $3,412.

 

Note 7. Leases

 

We have operating leases for our corporate offices in Canada. Our leases have remaining lease terms of one month to two months, and our primary operating leases include options to extend the leases for four years. Future renewal options that are not likely to be executed as of the balance sheet date are excluded from right-of-use assets and related lease liabilities.

 

We report operating leased assets, as well as operating lease current and noncurrent obligations on our balance sheets for the right to use the building in our business.

 

15

---

 

 

The components of lease expense were as follows:

 

		Three Months Ended June 30, 2023				Three Months Ended June 30, 2022
Operating lease cost		$	9,508			$	10,015

 

		Six Months Ended June 30, 2023				Six Months Ended June 30, 2022
Operating lease cost		$	18,959			$	20,108

 

Supplemental cash flow information related to leases was as follows:

 

		Six Months Ended June 30, 2023				Six Months Ended June 30, 2022
Cash paid for amounts included in leases:
Operating cash flows from operating leases		$	19,522			$	20,704

 

Supplemental balance sheet information related to leases was as follows:

 

		June 30, 2023				December 31, 2022
Operating leases:
Operating lease right-of-use assets		$	5,058			$	23,063
Current portion of operating lease obligations		$	3,601			$	22,199
Operating lease obligations, net of current portion			-				-
Total operating lease liabilities		$	3,601			$	22,199

 

		June 30, 2023				December 31, 2022
Weighted Average Remaining Lease Term
Operating lease (in years)			0.1				0.6
Weighted Average Discount Rate
Operating lease			9.0	%			9.0	%

 

A summary of future minimum payments under non-cancellable operating lease commitment as of June 30, 2023 is as follows:

 

Years ending December 31,		Total
2023 (remainder of year)			4,548
Total lease liabilities		$	4,548
Less amount representing interest			(947	)
Total			3,601
Less current portion			(3,601	)
		$	-

 

16

---

 

  

ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

Forward Looking Statements

 

This Quarterly Report on Form 10-Q contains certain forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding PAID, Inc. (the “Company”) and its business, financial condition, results of operations and prospects. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates", "could", "may", "should", "will", "would", and similar expressions or variations of such words are intended to identify forward-looking statements in this report. Additionally, statements concerning future matters such as the development of new services, technology enhancements, purchase of equipment, credit arrangements, possible changes in legislation and other statements regarding matters that are not historical are forward-looking statements.

 

Although forward-looking statements in this quarterly report reflect the good faith judgment of the Company's management, such statements can only be based on facts and factors currently known by the Company. Consequently, forward-looking statements are inherently subject to risks, contingencies and uncertainties, and actual results and outcomes may differ materially from results and outcomes discussed in this report. Although the Company believes that its plans, intentions and expectations reflected in these forward-looking statements are reasonable, the Company can give no assurance that its plans, intentions or expectations will be achieved. For a more complete discussion of these risk factors, see Item 1A, "Risk Factors", in the Company's Form 10-K for the fiscal year ended December 31, 2022 that was filed on March 31, 2023.

 

For example, the Company's ability to maintain positive cash flow and to become profitable may be adversely affected as a result of a number of factors that could thwart its efforts. These factors include the Company's inability to successfully implement the Company's business and revenue model, higher costs than anticipated, the Company's inability to sell its products and services to a sufficient number of customers, the introduction of competing products or services by others, the Company's failure to attract sufficient interest in, and traffic to, its site, the Company's inability to complete development of its products, the failure of the Company's operating systems, and the Company's inability to increase its revenues as rapidly as anticipated. If the Company is not profitable in the future, it will not be able to continue its business operations.

 

Except as required by applicable laws, we do not intend to publish updates or revisions of any forward-looking statements we make to reflect new information, future events or otherwise. Readers are urged to review carefully and to consider the various disclosures made by the Company in this Quarterly Report, which attempts to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects.

 

Overview

 

ShipTime Inc. has developed a SaaS-based application, which focuses on the small to medium business segment. This offering allows members to quote, process, generate labels, dispatch and track courier and LTL shipments all from a single interface. The application provides customers with a choice of today’s leading couriers and freight carriers all with discounted pricing allowing members to save on every shipment. ShipTime can also be integrated into on-line shopping carts to facilitate sales via e-commerce. We actively sell directly to small businesses and through long standing partnerships with selected associations throughout Canada.  Our focus in 2023 will be to significantly grow this portion of our business.

 

PAID, Inc. (“PAID”, the “Company”, “we”, “us”, or “our”) has developed a full line of SaaS-based business services designed to simplify the online selling experience.

 

PaidPayments, PaidCart, PaidShipping and PaidWeb are solutions developed to provide businesses with a streamlined experience for website creation, online sales, payment collection and shipping all in one platform. PaidWeb offers a robust platform enabling small and medium businesses to launch websites via our catalog of templates. Our platform includes a wide array of features such as mobile editing, search engine optimization, collaboration tools, pre-designed templates, and can be integrated with multiple platforms. PaidCart serves as a comprehensive solution for small and medium businesses looking to expand their online sales through multiple channels. It provides a centralized system to manage sales across various platforms, with additional functionalities for currency and language management, promotional sales, and abandoned cart recovery. PaidPayments and PaidShipping seamlessly interface with PaidCart to facilitate the checkout and shipping processes. Operating as a Payment Facilitator since 2019, PaidPayments provides businesses with a secure and efficient way to conduct online transactions including a virtual terminal, invoicing capability, subscriptions processing, checkout pages, and a point-of-sale system with support for USD, CAD, and EUR currencies. PaidShipping delivers a solution to quote, process, generate labels, dispatch and track courier and LTL shipments all from a single interface. We offer savings through partnerships with leading carriers. It includes a multi-courier comparison tool, integrations with eCommerce platforms and branded tracking.

 

AuctionInc is a suite of online shipping and tax management tools assisting businesses with e-commerce storefronts, shipping solutions, tax calculation, inventory management, and auction processing. The product does have tools to assist with other aspects of the fulfillment process, but the main purpose of the product is to provide accurate shipping and tax calculations and packaging algorithms that provide customers with the best possible shipping and tax solutions.

 

 

BeerRun Software is a brewery management and Alcohol and Tobacco Tax and Trade Bureau tax reporting software. Small craft brewers can utilize the product to manage brewery schedules, inventory, packaging, sales and purchasing. Tax reporting can be processed with a single click and is fully customizable by state or providence. The software is designed to integrate with QuickBooks accounting platforms by using our powerful sync engine. We currently offer two versions of the software BeerRun and BeerRun Light which excludes some of the enhanced features of BeerRun without disrupting the core functionality of the software.

 

Significant Accounting Policies

 

Our significant accounting policies are more fully described in Note 3 to our consolidated financial statements for the years ended December 31, 2022 and 2021 included in our Form 10-K filed on March 31, 2023, as updated and amended in Note 1 of the Notes to Condensed Consolidated Financial Statements included herein. However, certain of our accounting policies, most notably with respect to revenue recognition, are particularly important to the portrayal of our financial position and results of operations and require the application of significant judgment by our management; as a result, they are subject to an inherent degree of uncertainty. In applying these policies, our management makes estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures. Those estimates and judgments are based upon our historical experience, the terms of existing contracts, our observance of trends in the industry, information that we obtain from our customers and outside sources, and on various other assumptions that we believe to be reasonable and appropriate under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

 

Results of Operations

 

Comparison of the three months ended June 30, 2023 and 2022

 

The following discussion compares the Company's results of operations for the three months ended June 30, 2023 with those for the three months ended June 30, 2022. The Company's condensed consolidated financial statements and notes thereto included elsewhere in this quarterly report contain detailed information that should be referred to in conjunction with the following discussion.

 

Revenues

 

The following table compares total revenue for the periods indicated.

 

		Three months Ended June 30,
		2023				2022				% Change
Client services		$	28			$	477				(94	)%
Brewery management software			8,275				8,356				(1	)%
Shipping coordination and label generation services			4,106,187				4,521,400				(9	)%
Merchant processing services			15,375				4,445				246	%
Shipping calculator services			516				987				(48	)%
Total revenues		$	4,130,381			$	4,535,665				(9	)%

 

Revenues decreased 9% in the second quarter primarily from changes in regulated fuel prices set by the carriers in relation to our shipping coordination and label generation services. Fuel surcharges in 2022 were approximately 45% of the transportation rate versus 25% in 2023.

 

Client services revenues decreased $449 or 94% to $28 in the second quarter of 2023 compared to $477 in 2022. This decrease is a result of the depletion of the movie poster inventory that was available for sale.

 

Brewery management software revenues decreased $81 to $8,275 in 2023 from $8,356 in 2022. The decrease in revenues is due to the cancellation of several clients.

 

 

Shipping coordination and label generation services revenues decreased $415,213 or 9% to $4,016,187 in the second quarter of 2023 compared to $4,521,400 in 2022. The decrease is attributable to the increased fuel surcharges in 2022 versus those in 2023. Shipping volume is within 2% of the volume for the second quarter of 2022 compared to the same period for 2023.

 

Merchant processing services are available to businesses that process ecommerce online transactions. These include shipping, payments and web hosting services. This segment has launched its United States shipping portal which resulted in an increase of 246% from $4,445 to $15,375 in the second quarter of 2023. The Company is preparing to market this segment of the business in the upcoming months.

 

Shipping calculator services revenue decreased $471 or 48% to $516 in the second quarter of 2023 compared to $987 in 2022.  The decrease was primarily due to the reduction in commissionable volume of transactions for the customers using the platform.

 

Gross Profit

 

Gross profit decreased $77,129 or 8% in the second quarter of 2023 to $944,648 compared to $1,021,777 in 2022.  Gross margin was 23% for the second quarter of 2023 and 2022.

 

Operating Expenses

 

Total operating expenses in the second quarter 2023 were $1,012,018 compared to $862,688 in the second quarter of 2023, an increase of $149,330 or 17%. The increase is due to a change in the timing of salary increases as we have changed to annual reviews in January compared to reviews done throughout the year in addition to stock based compensation recorded in the second quarter.

 

Net Income

 

The Company recorded a net income in the second quarter of 2023 of $57,174 compared to a net income of $80,000 for the same period in 2022. The net income per share for the second quarter of 2023 and 2022 was $0.01 per share, respectively.

 

Comparison of the six months ended June 30, 2023 and 2022

 

The following discussion compares the Company's results of operations for the six months ended June 30, 2023, with those for the six months ended June 30, 2022. The Company's condensed consolidated financial statements and notes thereto included elsewhere in this quarterly report contain detailed information that should be referred to in conjunction with the following discussion.

 

Revenues

 

The following table compares total revenue for the periods indicated.

 

		Six months ended June 30,
		2023				2022				% Change
Client services		$	66			$	757				(91	)%
Brewery management software			16,250				17,731				(8	)%
Shipping coordination and label generation services			7,878,954				8,103,849				(3	)%
Merchant processing services			40,218				16,498				144	%
Shipping calculator services			1,168				6,531				(82	)%
Total revenues		$	7,936,656			$	8,145,366				(3	)%

 

Revenues decreased 3% in the first two quarters primarily from the combination of the annual increase and the increases to the fuel surcharges for revenues related to our shipping coordination and label generation services.

 

 

Client services revenues decreased $691 or 91% to $66 in the first two quarters of 2023 compared to $757 in 2022. This decrease is a result of the limited number of movie posters available for sale during the quarter.

 

Brewery management software revenues decreased $1,481 to $16,250 in 2023 from $17,731 in 2022. The decrease in revenues is due to the cancellation of several clients.

 

Shipping coordination and label generation services revenues decreased $224,895 or 3% to $7,878,954 in the first two quarters of 2023 compared to $8,103,849 in 2022. The decrease is attributable to the seasonal increases in addition to the impact of the declining fuel surcharges compared to the same period in 2022.

 

Merchant processing services is available to businesses that accept credit card processing online. This segment has launched its United States shipping portal which resulted in an increase of 144% from $16,498 to $40,218 in the first two quarters 2023. The Company continues to increase the product offerings in this segment of the business.

 

Shipping calculator services revenue decreased $5,363 or 82% to $1,168 in the first two quarters of 2023 compared to $6,531 in 2022.  The decrease was due to the cancellation of the remaining customer on the platform. Future revenues are related to the rebate program offered by one of our partners.

 

Gross Profit

 

Gross profit decreased $23,027 or 1% in the first two quarters of 2023 to $1,797,242 compared to $1,820,269 in 2022.  Gross margin increased from 22% in 2022 to 23% in 2023.  The increase in gross margin and increase in gross profit are a result of ongoing pricing evaluations of our shipping label generation services to remain competitive in the market.

 

Operating Expenses

 

Total operating expenses in the first two quarters of 2023 were $2,284,140 compared to $1,720,734 for the same period of 2022, an increase of $563,406 or 33%. The increase is primarily due to the share-based compensation of $486,776 recorded in 2023 compared to $60,012 for the same period of 2022.

 

Net Income (Loss)

 

The Company recorded a net loss in the first half of 2023 of $237,754 compared to a net income of $19,546 for the same period in 2022. The net income (loss) per share available to common shareholders for the first two quarters of 2023 and 2022 was ($0.03) and $0.00 per share, respectively.

 

Cash Flows from Operating Activities

 

A summarized reconciliation of the Company's net income (loss) to cash and cash equivalents provided by operating activities for the six months ended June 30, 2023 and 2022 is as follows:

 

		2023				2022
Net (loss) income		$	(237,754	)		$	19,546
Depreciation and amortization			155,269				168,219
Amortization of operating lease right-of-use assets			18,241				17,656
Share-based compensation			486,776				60,012
Provision for bad debt			-				13,500
Accretion of discount on note receivable			(250,000	)			-
Changes in assets and liabilities			(93,030	)			149,040
Net cash provided by operating activities		$	79,502			$	427,973

 

 

Working Capital and Liquidity

 

The Company had cash and cash equivalents of $1,900,723 at June 30, 2023, compared to $1,787,248 at December 31, 2022. The Company had net working capital of $2,052,199 at June 30, 2023, an improvement of $416,829 compared to $1,635,370 at December 31, 2022. The increase in net working capital is attributable to the decrease in accrued expenses along with the accretion of discount recognized on the note receivable.

 

The Company may need an infusion of additional capital to fund anticipated operating costs over the next 12 months, however, management believes that the Company has adequate cash resources to fund operations. There can be no assurance that anticipated growth will occur, and that the Company will be successful in launching new products and services. If necessary, management will seek alternative sources of capital to support operations.

 

ITEM 3.    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

As a smaller reporting company, the Company is not required to provide the information for this Item 3.

 

ITEM 4.    CONTROLS AND PROCEDURES

 

Evaluation of Disclosure Controls and Procedures

 

The Company's management, including the Chief Executive Officer/Chief Financial Officer of the Company, as its principal financial officer has evaluated the effectiveness of the Company's “disclosure controls and procedures,” as such term is defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).  Based upon this evaluation, the Chief Executive Officer/Chief Financial Officer has concluded that, as of June 30, 2023, the Company's disclosure controls and procedures were not effective, due to material weaknesses in internal control over financial reporting, for the purpose of ensuring that the information required to be disclosed in the reports that the Company files or submits under the Exchange Act with the Securities and Exchange Commission is recorded, processed, summarized and reported within the time period specified by the Securities and Exchange Commission's rules and forms, and is accumulated and communicated to the Company's management, including its principal executive/financial officer as appropriate to allow timely decisions regarding required disclosure.

 

The Company has identified numerous material weaknesses in internal control over financial reporting as described in the Company's Form 10-K for the year ended December 31, 2022.

 

Changes in Internal Control over Financial Reporting

 

The Company continues to evaluate the internal controls over financial reporting and is working toward implementation of corporate governance and operational process documentation.

 

PART II - OTHER INFORMATION

 

ITEM 1.     LEGAL PROCEEDINGS

 

In the normal course of business, the Company periodically becomes involved in litigation and disputes. During 2021, the Company was notified of a dispute related to its non-renewal of the employment agreement with Mr. Allan Pratt, the Company’s former President, CEO and Chairman. On or around January 2020, the Company had allowed Mr. Pratt’s employment agreement to not renew, but Mr. Pratt alleges in a court in Canada that the Company terminated him and that the Company owes him a severance payment. Around the same time that Mr. Pratt’s employment term expired, the Company’s Board of Directors voted to reduce the size of the Board from five to three members, and Mr. Pratt and Mr. Austin Lewis, then CFO, automatically rolled off from the Board of Directors. More than a year later, in 2021, Mr. Pratt filed a claim in Delaware courts to contest that decision. In July 2022, Mr. Pratt amended the complaint to dispute the proper authorization of a stock bonus that was awarded to the Company’s CEO in March 2021. The Company has not recorded a reserve as the outcome of these matters cannot be determined.

 

 

ITEM 1A.     RISK FACTORS

 

There are no material changes for the risk factors previously disclosed on Form 10-K for the year ended December 31, 2022.

 

ITEM 2.     UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

On March 23, 2023, the Company issued 296,961 shares of common stock at $1.75 per share under the terms of an Employment Agreement in addition to bonus compensation. On April 10, 2023, the Company issued 13,889 shares of common stock at $1.80 per share under the terms of an Employment Agreement with respect to the Company’s Chief Operating Officer.. The common stock was issued in reliance upon the exemptions from the registration requirements of the Securities Act afforded by Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D promulgated thereunder.

 

ITEM 3.     DEFAULTS UPON SENIOR SECURITIES

 

None.

 

ITEM 4.     MINE SAFETY DISCLOSURES

 

Not Applicable.

 

ITEM 5.     OTHER INFORMATION

 

Not Applicable

 

ITEM 6.     EXHIBITS

 

 

10.1		Amendment to 2018 Non-Qualified Stock Option Plan (incorporated by reference)
31.1		CEO and CFO Certification required under Section 302 of Sarbanes-Oxley Act of 2002
32		CEO and CFO Certification required under Section 906 of Sarbanes-Oxley Act of 2002
101.INS		Inline XBRL Instance Document (filed herewith)
101.SCH		Inline XBRL Taxonomy Extension Schema (filed herewith)
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase (filed herewith)
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase (filed herewith)
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase (filed herewith)
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase (filed herewith)
104		Cover Page Interactive Data File (embedded within the Inline XBRL Document and include in Exhibit 101)

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

		PAID, INC.
		By:	/s/ W. Austin Lewis IV
	Date: August 14, 2023		W. Austin Lewis, IV, CEO, CFO

 

 

 

 

LIST OF EXHIBITS

 

10.1		Amendment to 2018 Non-Qualified Stock Option Plan
31.1		CEO and CFO Certification required under Section 302 of Sarbanes-Oxley Act of 2002
32		CEO and CFO Certification required under Section 906 of Sarbanes-Oxley Act of 2002
101.INS		Inline XBRL Instance Document (filed herewith)
101.SCH		Inline XBRL Taxonomy Extension Schema (filed herewith)
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase (filed herewith)
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase (filed herewith)
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase (filed herewith)
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase (filed herewith)
104		Cover Page Interactive Data File (embedded within the Inline XBRL Document and include in Exhibit 101)

 

EXHIBIT 31.1

 

CERTIFICATION

 

I, W. Austin Lewis, IV, certify that:

 

1.         I have reviewed this quarterly report on Form 10-Q of PAID, INC.;

 

2.         Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.         Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

 

4.         I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f)) for the Registrant and have:

 

(a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)	Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d)

Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the Registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

 

5.         I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the Registrant’s auditors and the audit committee of Registrant’s board of directors (or persons performing the equivalent functions):

 

(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize and report financial information;

 

(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

 

 

Date: August 14, 2023

/s/ W. Austin Lewis, IV

__________________________________

W. Austin Lewis, IV, Chief Executive Officer, Chief Financial Officer

(Principal Financial and Accounting Officer)

 

EXHIBIT 32

 

CERTIFICATION PURSUANT TO

 

18 U.S.C. SECTION 1350,

 

AS ADOPTED PURSUANT TO

 

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of PAID, INC. (the “Company”) on Form 10-Q for the quarter ended June 30, 2023 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned, in their capacities as CEO and CFO of the Company, certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

 

1.         The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2.         The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

/s/ W. Austin Lewis, IV

______________________________
W. Austin Lewis, IV, Chief Executive Officer, Chief Financial Officer

 

August 14, 2023

 

v3.23.2

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 14, 2023
Document Information [Line Items]
Entity Central Index Key	0001017655
Entity Registrant Name	PAID INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Entity File Number	0-28720
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	73-1479833
Entity Address, Address Line One	225 Cedar Hill Street
Entity Address, City or Town	Marlborough
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01752
City Area Code	617
Local Phone Number	861-6050
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,010,837

v3.23.2

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1,900,723	$ 1,787,248
Accounts receivable, net	217,174	169,074
Note receivable, net of discount	1,854,167	1,604,167
Prepaid expenses and other current assets	53,149	151,374
Total current assets	4,025,213	3,711,863
Property and equipment, net	17,263	23,487
Intangible assets, net	2,579,215	2,663,311
Operating lease right-of-use assets	5,058	23,063
Total assets	6,626,749	6,421,724
Current liabilities:
Accounts payable	1,555,890	1,610,416
Accrued expenses	401,048	430,858
Contract liabilities	12,475	13,020
Operating lease obligations – current portion	3,601	22,199
Total current liabilities	1,973,014	2,076,493
Long-term liabilities:
Deferred tax liability, net	732,546	707,952
Uncertain tax position liability	265,167	265,167
Total liabilities	2,970,727	3,049,612
Commitments and contingencies
Shareholders' equity:
Common stock, $0.001 par value, 25,000,000 shares authorized; 8,154,474 shares issued and 8,010,837 shares outstanding at June 30, 2023 and 7,840,124 shares issued and 7,696,487 shares outstanding at December 31, 2022	8,154	7,840
Accrued common stock bonus	0	82,180
Additional paid-in capital	73,373,030	72,800,976
Accumulated other comprehensive income	347,836	316,360
Accumulated deficit	(69,908,158)	(69,670,404)
Common stock in treasury, at cost, 143,637 shares at June 30, 2023 and December 31, 2022	(164,840)	(164,840)
Total shareholders' equity	3,656,022	3,372,112
Total liabilities and shareholders' equity	6,626,749	6,421,724
Series A Preferred Stock [Member]
Shareholders' equity:
Series A Preferred stock, $0.001 par value, 5,000,000 shares authorized; no shares issued and outstanding	$ 0	$ 0

v3.23.2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	25,000,000	25,000,000
Common stock, shares issued (in shares)	8,154,474	7,840,124
Common stock, shares outstanding (in shares)	8,010,837	7,696,487
Treasury Stock (in shares)	143,637	143,637
Series A Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

v3.23.2

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues, net	$ 4,130,381	$ 4,535,665	$ 7,936,656	$ 8,145,366
Cost of revenues	3,185,733	3,513,888	6,139,414	6,325,097
Gross profit	944,648	1,021,777	1,797,242	1,820,269
Operating expenses:
Salaries and related	501,329	442,796	996,830	901,305
General and administrative	341,937	299,504	651,954	598,906
Share-based compensation	94,238	41,916	486,776	60,012
Amortization of other intangible assets	74,514	78,472	148,580	160,511
Total operating expenses	1,012,018	862,688	2,284,140	1,720,734
Income (loss) from operations	(67,370)	159,089	(486,898)	99,535
Other income (expense):
Other income	125,000	0	250,000	0
Income (loss) before income tax provision	57,630	159,089	(236,898)	99,535
Income tax provision	456	79,089	856	79,989
Net income (loss)	$ 57,174	$ 80,000	$ (237,754)	$ 19,546
Net income (loss) per share – basic (in dollars per share)	$ 0.01	$ 0.01	$ (0.03)	$ 0
Weighted average number of common shares outstanding - basic (in shares)	8,008,312	7,775,266	7,866,386	7,774,270
Net income (loss) per share – diluted (in dollars per share)	$ 0.01	$ 0.01	$ (0.03)	$ 0
Weighted average number of common shares outstanding - diluted (in shares)	8,013,295	7,801,262	7,866,386	7,804,144
Condensed consolidated statements of comprehensive income (loss):
Net income (loss)	$ 57,174	$ 80,000	$ (237,754)	$ 19,546
Other comprehensive income (loss):
Foreign currency translation adjustments	33,772	(93,288)	31,476	(54,988)
Comprehensive income (loss)	$ 90,946	$ (13,288)	$ (206,278)	$ (35,442)

v3.23.2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ (237,754)	$ 19,546
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	155,269	168,219
Amortization of operating lease right-of-use assets	18,241	17,656
Accretion of discount on note receivable	(250,000)	0
Share-based compensation	486,776	60,012
Provision for bad debt	0	13,500
Changes in assets and liabilities:
Accounts receivable	(43,248)	(94,252)
Prepaid expenses and other current assets	99,354	89,330
Accounts payable	(91,440)	120,563
Accrued expenses	(38,036)	49,880
Contract liabilities	(858)	1,771
Operating lease obligations	(18,802)	(18,252)
Net cash provided by operating activities	79,502	427,973
Cash flows from financing activities
Proceeds from option exercises	3,412	0
Net cash provided by financing activities	3,412	0
Effect of exchange rate changes on cash and cash equivalents	30,561	(55,416)
Net change in cash and cash equivalents	113,475	372,557
Cash and cash equivalents, beginning of period	1,787,248	2,839,687
Cash and cash equivalents, end of period	1,900,723	3,212,244
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Income taxes	856	1,356
Interest	0	0
SUPPLEMENTAL DISCLOSURES OF NON-CASH ITEMS
Issuance of common shares in settlement of accrued common stock bonus	$ 82,180	$ 0

v3.23.2

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Deferred Compensation, Share-Based Payments [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Treasury Stock, Common [Member]	Total
Balance (in shares)		7,807,103				(33,840)
Balance (in shares) at Dec. 31, 2021		7,807,103				(33,840)
Balance at Dec. 31, 2021		$ 7,807	$ 72,691,201	$ 590,067	$ (70,322,550)	$ (57,847)	$ 2,908,678
Foreign currency translation adjustments		0	0	38,300	0	0	38,300
Share-based compensation expense		0	18,096	0	0	0	18,096
Net income (loss)		0	0	0	(60,454)	0	(60,454)
Net income		$ 0	0	0	(60,454)	$ 0	(60,454)
Balance (in shares) at Mar. 31, 2022		7,807,103				(33,840)
Balance at Mar. 31, 2022		$ 7,807	72,709,297	628,367	(70,383,004)	$ (57,847)	2,904,620
Share-based compensation expense		$ 0	18,096	0	0	$ 0	18,096
Balance (in shares) at Dec. 31, 2021		7,807,103				(33,840)
Balance at Dec. 31, 2021		$ 7,807	72,691,201	590,067	(70,322,550)	$ (57,847)	2,908,678
Foreign currency translation adjustments							(54,988)
Net income (loss)							19,546
Net income							19,546
Balance (in shares) at Jun. 30, 2022		7,820,124				(33,840)
Balance at Jun. 30, 2022		$ 7,820	72,751,200	535,079	(70,303,004)	$ (57,847)	2,933,248
Balance (in shares)		7,807,103				(33,840)
Balance (in shares) at Mar. 31, 2022		7,807,103				(33,840)
Balance at Mar. 31, 2022		$ 7,807	72,709,297	628,367	(70,383,004)	$ (57,847)	2,904,620
Foreign currency translation adjustments		0	0	(93,288)	0	0	(93,288)
Share-based compensation expense		0	16,916	0	0	0	16,916
Net income (loss)		$ 0	0	0	80,000	$ 0	80,000
Issuance of common stock for compensation (in shares)		13,021				0
Issuance of common stock for compensation		$ 13	24,987	0	0	$ 0	25,000
Net income		$ 0	0	0	80,000	$ 0	80,000
Balance (in shares) at Jun. 30, 2022		7,820,124				(33,840)
Balance at Jun. 30, 2022		$ 7,820	72,751,200	535,079	(70,303,004)	$ (57,847)	2,933,248
Share-based compensation expense		$ 0	16,916	0	0	$ 0	16,916
Balance (in shares)		7,820,124				(33,840)
Balance (in shares)		7,840,124				(143,637)
Balance (in shares) at Dec. 31, 2022		7,840,124				(143,637)
Balance at Dec. 31, 2022	$ 82,180	$ 7,840	72,800,976	316,360	(69,670,404)	$ (164,840)	3,372,112
Foreign currency translation adjustments	0	0	0	(2,296)	0	0	(2,296)
Share-based compensation expense	0	0	119,100	0	0	0	119,100
Net income (loss)	0	0	0	0	(294,928)	0	(294,928)
Net income	0	$ 0	0	0	(294,928)	$ 0	(294,928)
Balance (in shares) at Mar. 31, 2023		8,137,085				(143,637)
Balance at Mar. 31, 2023	0	$ 8,137	73,275,397	314,064	(69,965,332)	$ (164,840)	3,467,426
Issuance of common stock for accrued bonus (in shares)		46,961				0
Issuance of common stock for accrued bonus	(82,180)	$ 47	82,133	0	0	$ 0	0
Issuance of common stock for signing bonus (in shares)		250,000				0
Issuance of common stock for signing bonus	0	$ 250	273,188	0	0	$ 0	273,438
Share-based compensation expense	0	$ 0	119,100	0	0	$ 0	119,100
Balance (in shares) at Dec. 31, 2022		7,840,124				(143,637)
Balance at Dec. 31, 2022	82,180	$ 7,840	72,800,976	316,360	(69,670,404)	$ (164,840)	3,372,112
Foreign currency translation adjustments							31,476
Net income (loss)							(237,754)
Net income							(237,754)
Balance (in shares) at Jun. 30, 2023		8,154,474				(143,637)
Balance at Jun. 30, 2023	0	$ 8,154	73,373,030	347,836	(69,908,158)	$ (164,840)	3,656,022
Balance (in shares)		8,137,085				(143,637)
Balance (in shares) at Mar. 31, 2023		8,137,085				(143,637)
Balance at Mar. 31, 2023	0	$ 8,137	73,275,397	314,064	(69,965,332)	$ (164,840)	3,467,426
Foreign currency translation adjustments	0	0	0	33,772	0	0	33,772
Share-based compensation expense	0	0	69,238	0	0	0	69,238
Net income (loss)	0	0	0	0	57,174	0	57,174
Net income	0	$ 0	0	0	57,174	$ 0	57,174
Balance (in shares) at Jun. 30, 2023		8,154,474				(143,637)
Balance at Jun. 30, 2023	0	$ 8,154	73,373,030	347,836	(69,908,158)	$ (164,840)	3,656,022
Issuance of common stock for signing bonus (in shares)		13,889				0
Issuance of common stock for signing bonus	0	$ 14	24,986	0	0	$ 0	25,000
Share-based compensation expense	0	$ 0	69,238	0	0	$ 0	69,238
Option exercise (in shares)		3,500				0
Option exercise	$ 0	$ 3	$ 3,409	$ 0	$ 0	$ 0	$ 3,412
Balance (in shares)		8,154,474				(143,637)

v3.23.2

Note 1 - Organization and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	Note 1. Organization and Significant Accounting Policies   PAID, Inc. (“PAID”, the “Company”, “we”, “us”, or “our”) has developed a full line of SaaS-based business services including PaidPayments, PaidCart, PaidShipping and PaidWeb.  These solutions are developed to provide businesses with a streamlined experience for website creation, online sales, payment collection and shipping all in one platform.   PaidWeb offers a robust platform enabling small and medium businesses to launch websites via our catalog of templates. Our platform includes a wide array of features such as mobile editing, search engine optimization, collaboration tools, pre-designed templates, and can be integrated with multiple platforms. PaidCart serves as a comprehensive solution for small and medium businesses looking to expand their online sales through multiple channels. It provides a centralized system to manage sales across various platforms, with additional functionalities for currency and language management, promotional sales, and abandoned cart recovery. PaidPayments and PaidShipping seamlessly interface with PaidCart to facilitate the checkout and shipping processes. Operating as a Payment Facilitator since 2019, PaidPayments provides businesses with a secure and efficient way to conduct online transactions including a virtual terminal, invoicing capability, subscriptions processing, checkout pages, and a point-of-sale system with support for USD, CAD, and EUR currencies. PaidShipping delivers a solution to quote, process, generate labels, dispatch and track courier and LTL shipments all from a single interface. We offer savings through partnerships with leading carriers. It includes a multi-courier comparison tool, integrations with eCommerce platforms and branded tracking.   ShipTime Canada Inc. (“ShipTime”) has developed a SaaS-based application, which focuses on the small and medium business segments. This offering allows members to quote, process, generate labels, dispatch and track courier and LTL shipments all from a single interface. The application provides customers with a choice of today’s leading couriers and freight carriers all with discounted pricing allowing members to save on every shipment. ShipTime can also be integrated into on-line shopping carts to facilitate sales via e-commerce. We actively sell directly to small and medium businesses and through long standing partnerships with selected associations throughout Canada.    AuctionInc, which is a suite of online shipping and tax management tools assisting businesses with e-commerce storefronts, shipping solutions, tax calculation, and auction processing. The product has tools to assist with other aspects of the fulfillment process, but the main purpose of the product is to provide accurate shipping and tax calculations and packaging algorithms that provide customers with the best possible shipping and tax solutions. Paid also offers BeerRun Software which is a brewery management and Alcohol and Tobacco Tax and Trade Bureau tax reporting software. Small craft brewers can utilize the product to manage brewery schedules, inventory, packaging, sales and purchasing. Tax reporting can be processed with a single click and is fully customizable by state or province.   General Presentation and Basis of Condensed Consolidated Financial Statements   The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), and with the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2022 that was filed on March 31, 2023.   In the opinion of management, the Company has prepared the accompanying unaudited condensed consolidated financial statements on the same basis as its audited consolidated financial statements, and these unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments necessary for a fair presentation of the results of the interim periods presented. The operating results for the interim periods presented are not necessarily indicative of the results expected for the full year 2023.   Liquidity and Management’s Plans   At June 30, 2023, the Company reported cash and cash equivalents of $1,900,723 and net working capital of $2,052,199 and reported cash flows provided by operations of $79,502 for the six months ended June 30, 2023. The Company has reported an operating loss of $486,898 for the six months ended June 30, 2023 and has an accumulated deficit of $69,908,158 at June 30, 2023.   Management believes that the Company has adequate cash resources to fund operations during the next 12 months after the filing of this quarterly report on Form 10-Q. In addition, management continues to explore opportunities and has organized additional resources to monetize its patents. However, there can be no assurance that anticipated growth in new business will occur, and that the Company will be successful in launching new products and services. Management continues to seek alternative sources of capital to support the growth of future operations.   Although there can be no assurances, the Company believes that the above management plans will be sufficient to meet the Company’s working capital requirements through the end of August 2024 and will have a positive impact on the Company for the foreseeable future.   Principles of Consolidation   The condensed consolidated financial statements include the accounts of PAID, Inc. and its wholly owned subsidiaries, PAID Run, LLC and ShipTime Canada, Inc. All intercompany accounts and transactions have been eliminated.   Foreign Currency   The currency of ShipTime, the Company’s international subsidiary, is in Canadian dollars. Foreign currency denominated assets and liabilities are translated into U.S. dollars using the exchange rates in effect at June 30, 2023 and December 31, 2022. Results of operations and cash flows are translated using the average exchange rates throughout the period. The effect of exchange rate fluctuations on translation of assets and liabilities is included as a separate component of shareholders’ equity in accumulated other comprehensive income.   Geographic Concentrations   The Company conducts business in the U.S. and Canada. For customers headquartered in their respective countries, the Company derived approximately 99% of its revenues from Canada and 1% from the U.S. during the three and six months ended June 30, 2023 and 2022.   At June 30, 2023, the Company maintained 100% of its property and equipment, net of accumulated depreciation, in Canada.   Right of Use Assets   A right-of-use asset represents a lessee’s right to use a leased asset for the term of the lease. Our right-of-use assets generally consist of an operating lease for a building.   Right-of-use assets are measured initially at the present value of the lease payments, plus any lease payments made before a lease began and any initial direct costs, such as commissions paid to obtain a lease.   Right-of-use assets are subsequently measured at the present value of the remaining lease payments, adjusted for incentives, prepaid or accrued rent, and any initial direct costs not yet expensed.   Long-Lived Assets   The Company reviews the carrying values of its long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the expected future cash flow from the use of the asset and its eventual disposition is less than the carrying amount of the asset, an impairment loss is recognized and measured using the fair value of the related asset. No impairment charges were recognized during the three and six months ended June 30, 2023 and 2022. There can be no assurance, however, that market conditions will not change or demand for the Company’s services will continue, which could result in impairment of long-lived assets in the future.   Revenue Recognition   The Company generates revenue principally from fees for coordinating shipping services, sales of shipping calculator subscriptions, brewery management software subscriptions, merchant processing services and client services.   The Company recognizes revenue by taking into consideration the following five steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. Due to the nature of the Company’s product offerings and contracts associated with those products, the Company’s deliverables do not fluctuate, and its revenue recognition is consistent.   Nature of Goods and Services   For label generation service revenues, the Company recognizes revenue when a customer has successfully prepared a shipping label and scheduled a pickup. Customers with pickups after the end of the reporting period are recorded as contract liabilities on the condensed consolidated balance sheets. The service is offered to consumers via an online registration and allows users to create a shipping label using a credit card on their account (all customers must have a valid credit card on file to process shipments on the ShipTime platform).   For shipping calculator revenues and brewery management software revenues, the Company recognizes subscription revenue on a monthly basis. Shipping calculator customers’ renewal dates are based on their date of installation and registration of the shipping calculator line of products. The timing of the revenue recognition and cash collection may vary within a given quarter and the deposits for future services are recorded as contract liabilities on the condensed consolidated balance sheets. Brewery management software subscribers are billed monthly at the first of the month. All payments are made via credit card for the following month.   Merchant processing revenue consists of fees a seller pays us to process their payment transactions and is recognized upon authorization of a transaction. Revenue is recognized net of estimated refunds, which are reversals of transactions initiated by sellers. We act as the merchant of record for our sellers, which puts us in their shoes with respect to card networks and puts the risk for refunds and chargebacks on us. The gross transaction fees collected from sellers is recognized as revenue as we are the primary obligor to the seller and are responsible for processing the payment, have latitude in establishing pricing with respect to the sellers and other terms of service, have sole discretion in selecting the third party to perform the settlement, and assume the credit risk for the transaction processed.   Revenue Disaggregation   The Company operates in six reportable segments (see below).   Performance Obligations   At contract inception, an assessment of the goods and services promised in the contracts with customers is performed and a performance obligation is identified for each distinct promise to transfer to the customer a good or service (or bundle of goods or services). To identify the performance obligations, the Company considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. Revenue is recognized when the performance obligation has been met, which is when the customer has successfully prepared a shipping label and scheduled a pickup for shipping coordination and label generation services. The Company considers control to have transferred at that time because the Company has a present right to payment at that time, the Company has provided the shipping label, and the customer is able to direct the use of, and obtain substantially all of the remaining benefits from the shipping label.   For arrangements under which the Company provides a subscription for shipping calculator services and brewery management software, the Company satisfies its performance obligations over the life of the subscription, typically twelve months or less.   Customers of PaidPayments receive a merchant identification number which allows them to process credit card transactions. Once the transaction is approved, the funds are disbursed in an overnight feed and the Company has met its performance obligation.   The Company has no shipping and handling activities related to contracts with customers.   Revenues are recognized net of any taxes collected from customers, which are subsequently remitted to government authorities.   Significant Payment Terms   Pursuant to the Company’s contracts with its customers, amounts are collected up front primarily through credit/debit card transactions. The Company has offered its customers consolidated payments which are billed weekly and are paid with a credit card on file. Accordingly, the Company determined that its contracts with customers do not include extended payment terms or a significant financing component.   Variable Consideration   In some cases, the nature of the Company’s contracts may give rise to variable consideration, including rebates and cancellations or other similar items that generally decrease the transaction price.   Variable consideration is estimated at the most likely amount that is expected to be earned. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of the anticipated performance and all information (historical, current and forecasted) that is reasonably available.   Revenues are recorded net of variable consideration, such as rebates, refunds, and cancellations.   Warranties   The Company’s products and services are provided on an “as is” basis and no warranties are included in the contracts with customers. Also, the Company does not offer separately priced extended warranty or product maintenance contracts.   Contract Assets   Typically, the Company has already collected revenue from the customer at the time it has satisfied its performance obligation. Accordingly, the Company has only a small balance of accounts receivable, totaling $217,174 and $169,074 as of June 30, 2023 and December 31, 2022, respectively. The Company has no customers that made up 10% of the accounts receivable balance at June 30, 2023. Generally, the Company does not have material amounts of contract assets since revenue is recognized as control of goods is transferred or as services are performed.   Contract Liabilities (Deferred Revenue)   Contract liabilities are recorded when cash payments are received in advance of the Company’s performance (including rebates). Contract liabilities were $12,475 and $13,020 at June 30, 2023 and December 31, 2022, respectively. During the six months ended June 30, 2023, the Company recognized revenues of $13,020, related to contract liabilities outstanding at the beginning of the period.   Income (Loss) Per Common Share   Basic earnings (loss) per share represent income (loss) divided by the weighted-average number of common shares outstanding during the period. Diluted income (loss) per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income (loss) that would result from the assumed issuance. The potential common shares that may be issued by the Company relate to outstanding stock options and have been excluded from the computation of diluted income (loss) per share if they would reduce the reported loss per share and therefore have an anti-dilutive effect.   For the the six months ended June 30, 2023, there was approximately 6,400 potentially dilutive shares excluded from the diluted loss per share calculation, as their effect would be anti-dilutive.   The following is a reconciliation of the numerators and denominators of the basic and diluted income (loss) per common share computations for the three and six months ended June 30, 2023 and 2022.       Three Months Ended June 30, 2023     Three Months Ended June 30, 2022   Numerator:                 Net income   $ 57,174     $ 80,000   Denominator:                 Basic weighted-average shares outstanding     8,008,312       7,775,266   Effect of dilutive securities     4,983       25,996   Diluted weighted-average shares outstanding     8,013,295       7,801,262   Basic income per common share   $ 0.01     $ 0.01   Diluted income per common share   $ 0.01     $ 0.01         Six Months Ended June 30, 2023     Six Months Ended June 30, 2022   Numerator:                 Net income (loss)   $ (237,754 )   $ 19,546   Denominator:                 Basic weighted-average shares outstanding     7,866,386       7,774,270   Effect of dilutive securities     -       29,874   Diluted weighted-average shares outstanding     7,866,386       7,804,144   Basic income (loss) per share   $ (0.03 )   $ -   Diluted income (loss) per share   $ (0.03 )   $ -     Segment Reporting   The Company reports information about segments of its business in its annual consolidated financial statements and reports selected segment information in its quarterly reports issued to shareholders. The Company also reports on its entity-wide disclosures about the products and services it provides and reports revenues and its major customers. The Company’s six reportable segments are managed separately based on fundamental differences in their operations. At June 30, 2023, the Company operated in the following six reportable segments:   a. Client services; b. Shipping calculator services; c. Brewery management software; d. Merchant processing services; e. Shipping coordination and label generation services; and f. Corporate operations   The Company evaluates performance and allocates resources based upon operating income. The accounting policies of the reportable segments are the same as those described in this summary of significant accounting policies. The Company’s chief operating decision maker is the Chief Executive Officer/Chief Financial Officer.   The following table compares total revenue for the periods indicated.       Three Months Ended     Six Months Ended       June 30, 2023     June 30, 2022     June 30, 2023     June 30, 2022   Client services   $ 28     $ 477     $ 66     $ 757   Shipping calculator services     516       987       1,168       6,531   Brewery management software     8,275       8,356       16,250       17,731   Merchant processing services     15,375       4,445       40,218       16,498   Shipping coordination and label generation services     4,106,187       4,521,400       7,878,954       8,103,849   Total revenues   $ 4,130,381     $ 4,535,665     $ 7,936,656     $ 8,145,366     The following table compares total income (loss) from operations for the periods indicated.       Three Months Ended     Six Months Ended       June 30, 2023     June 30, 2022     June 30, 2023     June 30, 2022   Client services   $ 28     $ 365     $ 66     $ 645   Shipping calculator services     (391 )     (1,076 )     (736 )     2,489   Brewery management software     4,348       (19,323 )     6,773       (24,066 ) Merchant processing services     4,937       (4,060 )     10,696       (21 ) Shipping coordination and label generation services     (54,978 )     214,784       (352,735 )     181,143   Corporate operations     (21,314 )     (31,601 )     (150,962 )     (60,655 ) Total income (loss) from operations   $ (67,370 )   $ 159,089     $ (486,898 )   $ 99,535     Subsequent Events   On July 25, 2023, the Board of Directors approved the terms of an amendment to the Convertible Note due from Embolx.  The note reached its maturity on July 19, 2023 and as it has not been paid in full, the face value of the note has increased by 20% (See Note 2). The amendment includes an investment of an additional $500,000 with a 25% original issue discount and a 2.75 times liquidation preference on the face value of the entire note receivable and an extension for nine months.   Recent Accounting Pronouncements   In September 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326)-Measurement of Credit Losses on Financial Instruments, (“ASU 2016-13”), supplemented by subsequent accounting standards updates. The new standard requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. ASU 2016-13, as amended, is effective for fiscal years beginning after December 15, 2022. We adopted ASU 2016-13 on January 1, 2023. As of June 30, 2023, the Company has $217,174 of accounts receivable and notes receivable of $1,854,167. Based on the nature of our accounts receivable and the process of granting credit and collecting debt we have determined that there are no expected credit losses for our accounts receivable. The Company has one note receivable and is a senior secure lender with an absolute obligation. Consideration has been taken into the contractual obligation, the valuation of the assets and the senior position of the repayment. We have determined that there are no expected credit losses for our note receivable. The adoption of this standard did not have a material impact on our consolidated financial statements or disclosures. Specifically, our estimate of expected credit losses as of June 30, 2023, using our expected credit loss evaluation process described above, resulted in no adjustments to the provision for credit losses and no cumulative-effect adjustment to accumulated deficit on the adoption date of the standard.

v3.23.2

Note 2 - Notes Receivable	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Financing Receivables [Text Block]	Note 2. Note Receivable   On October 13, 2022, the Company entered in a Securities Purchase Agreement (“SPA”) with respect to a secured $1,875,000 convertible note (“Convertible Note”) made by Embolx, Inc. (“Noteholder”), a California corporation.  The Convertible Note was purchased at a 20% ($375,000) original issue discount and was subject to a 9-month maturity, after which, if unpaid will then carry a 20% interest rate. The Company has recognized $250,000 in other income related to accretion of the discount on the Convertible Note for the six months ended June 30, 2023.   The Company has the option to convert the Convertible Note into shares of common stock of the Noteholder.  The Convertible Note is secured by essentially all assets of the Noteholder.  Under the SPA, the Company has a right to purchase additional notes and receive warrants on the same terms for a total potential investment amount of $2,000,000 with an additional over-allotment option of $500,000 as defined in the SPA. As additional consideration, the Company received a 5-year warrant to purchase shares of common stock of the Noteholder.  The shares are subject to certain piggyback registration rights under a Registration Rights Agreement.  The warrant is offered at 50% of the original principal amount and will be valued at the price per share of common stock paid in the first liquidity event following October 19, 2022.  The warrants expire five years from the original issue date. As of July 19, 2023 the note was in default and will carry an additional 20% interest.  On July 25, 2023 the Company agreed upon an extension and amendment to the Convertible Note (see Note 1).

v3.23.2

Note 3 - Accrued Expenses	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	Note 3. Accrued Expenses   Accrued expenses are comprised of the following:       June 30, 2023 (unaudited)     December 31, 2022   Payroll and related costs   $ 148,271     $ 195,803   Professional and consulting     -       3,685   Royalties     40,075       40,075   Accrued cost of revenues     190,064       168,657   Sales tax     22,228       22,228   Other     410       410   Total   $ 401,048     $ 430,858

v3.23.2

Note 4 - Intangible Assets	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	Note 4. Intangible Assets   The Company holds several patents for the real-time calculation of shipping costs for items purchased through online auctions using a zip code as a destination location indicator. It includes shipping charge calculations across multiple carriers and accounts for additional characteristics of the item being shipped, such as weight, special packaging or handling, and insurance costs. These patents help facilitate rapid and accurate estimation of shipping costs across multiple shipping carriers and also include real-time calculation of shipping.   In addition, the Company has various other intangibles from past business combinations.   At June 30, 2023, intangible assets consisted of the following:       Patents     Trade Name     Technology & Software     Customer Relationships     Total   Gross carrying amount   $ 16,000     $ 809,158     $ 600,515     $ 4,756,005     $ 6,181,678   Accumulated amortization     (16,000 )     (809,158 )     (600,515 )     (2,176,790 )     (3,602,463 )     $ -     $ -     $ -     $ 2,579,215     $ 2,579,215     At December 31, 2022, intangible assets consisted of the following:       Patents     Trade Name     Technology & Software     Customer Relationships     Total   Gross carrying amount   $ 16,000     $ 789,212     $ 587,776     $ 4,644,033     $ 6,037,021   Accumulated amortization     (16,000 )     (789,212 )     (587,776 )     (1,980,722 )     (3,373,710 )     $ -     $ -     $ -     $ 2,663,311     $ 2,663,311     Amortization expense of intangible assets for the three months ended June 30, 2023 and 2022 was $74,514 and $78,472, respectively, and for the six months ended June 30, 2023 and 2022 was $148,580 and $160,511, respectively.

v3.23.2

Note 5 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 5. Commitments and Contingencies   Legal Matters   In the normal course of business, the Company periodically becomes involved in litigation and disputes. During 2021, the Company was notified of a dispute related to its non-renewal of the employment agreement with Mr. Allan Pratt, the Company's former President, CEO and Chairman. In February 2020, the Company did not renew Mr. Pratt’s employment agreement, but Mr. Pratt alleges in a court in Canada that the Company terminated him and that the Company owes him a severance payment. Around the same time that Mr. Pratt’s employment term expired, the Company’s Board of Directors voted to reduce the size of the Board from five to three, and Mr. Pratt and Mr. Austin Lewis, then CFO, automatically rolled off from the Board of Directors. More than a year later, in 2021, Mr. Pratt filed a claim in Delaware courts to contest that decision. In July 2022, Mr. Pratt amended the complaint to dispute the proper authorization of a stock bonus that was awarded to the Company’s CEO in March 2021. The Company has not recorded a reserve as the outcome of these matters cannot be determined.   Indemnities and Guarantees   The Company has made certain indemnities and guarantees, under which it may be required to make payments to a guaranteed or indemnified party, in relation to certain actions or transactions. The Company indemnifies its directors, officers, employees and agents, as permitted under the laws of the State of Delaware. In connection with its facility lease, the Company has agreed to indemnify its lessor for certain claims arising from the use of the facilities. The duration of the guarantees and indemnities varies and is generally tied to the life of the agreement. These guarantees and indemnities do not provide for any limitation of the maximum potential future payments the Company could be obligated to make. Historically, the Company has not been obligated nor incurred any payments for these obligations and, therefore, no liabilities have been recorded for these indemnities and guarantees in the accompanying condensed consolidated balance sheets.

v3.23.2

Note 6 - Shareholders' Equity	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Shareholders' Equity and Share-Based Payments [Text Block]	Note 6. Shareholders’ Equity   Preferred Stock   The Company’s amended Certificate of Incorporation authorizes the issuance of 20,000,000 shares of blank-check preferred stock at $0.001 par value. The Board of Directors will be authorized to fix the designations, rights, preferences, powers and limitations of each series of the preferred stock.   The Company filed a Certificate of Designations effective on December 30, 2016, which sets aside 5,000,000 shares of Preferred Stock as Series A Preferred Stock. The Series A Preferred Stock carries a coupon payment obligation of 1.5% of the liquidation value per share ($3.03) per year in cash or additional Series A Preferred Stock, calculated by taking the 30-day average closing price for a share of common stock for the month immediately preceding the coupon payment date which is made annually. The Series A Preferred Stock has no voting or conversion rights. If purchased, redeemed, or otherwise acquired (other than conversion), the preferred stock may be reissued. As of June 30, 2023 and December 31, 2022, there are no outstanding shares of Series A Preferred Stock.   Common Stock   In February 2020, ShipTime Canada amended its rights to exchange one share of ShipTime Canada stock from 45 PAID common shares and 311 PAID preferred shares to 356 PAID common shares. The Company made available to its ShipTime Canada exchangeable preferred shareholders the one-time option to convert existing book entry preferred shares and exchangeable rights to preferred shares into PAID common shares. As a result, certain ShipTime exchangeable shareholders exercised their rights to receive 1,461,078 shares of PAID Series A Preferred Stock for 1,461,078 shares of PAID common stock. At the same time, the Company made available to its Series A Preferred Stock shareholder the option to exchange existing Series A preferred shares for PAID common shares. The exchange was offered on a one-to-one basis. Shareholders holding 1,015,851 shares of Series A Preferred Stock exchanged such shares for 1,015,851 shares of PAID common stock. Furthermore, because of the amended exchange rights, the Company reflected an additional exchange of PAID Series A Preferred Stock shares totaling 2,089,298 to PAID common shares, representing the additional amount of PAID common shares that will be issued to the ShipTime shareholders upon the exchange. During 2020, two shareholders sold 500 ShipTime exchangeable shares which were subsequently exchanged for 178,000 common shares. In total, the Company has reserved for future issuance of 2,106,808 shares of PAID common stock with respect to the remaining 5,918 exchangeable shares to be issued as a result of the ShipTime acquisition which are considered issued and outstanding as of June 30, 2023 for financial reporting purposes.   On March 21, 2023, the Company’s Board of Directors authorized the issuance of 46,961 bonus shares of PAID common stock to the CEO/CFO, one additional officer and one employee for services rendered during 2022.  This bonus was valued at $82,180 based on the closing price of the Company’s common stock at March 20, 2023 and was issued in March 2023. This bonus was recorded in accrued common stock bonus in shareholders’ equity as of December 31, 2022.  The Board of Directors also authorized the issuance of an additional 250,000 shares to the CEO/CFO as a renewal bonus valued at $437,500. $218,750 of share-based compensation expense was recognized immediately as 125,000 of the bonus shares are immediately vested. The remaining $218,750 of share-based compensation expense will be recognized ratably during 2023 as 125,000 of the bonus shares are subject to repurchase if the CEO/CFO were to terminate employment during the period ended January 1, 2024. The Company recorded $54,688 and $328,126, respectively, of share-based compensation expense for the three-month and six-month periods ended June 30, 2023 in connection with these additional shares.   On March 21, 2023, the Company’s Board of Directors approved the terms of the employment agreement for David Scott, the Company’s COO.  Per the terms of the agreement the Company issued 13,889 shares of PAID common stock to the COO. This compensation was valued at $25,000 based on the closing price of the Company’s common stock at March 31, 2023 and the shares were issued on April 10, 2023.  The Company recorded $25,000 of share-based compensation expense for the three-month period ended June 30, 2023 in connection with the additional compensation. During the second quarter of 2022, the Company issued 13,021 shares valued at $1.92 per share for a total share-based compensation expense of $25,000 to one employee as bonus compensation which is included in share-based compensation in the condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2022.  The shares were issued pursuant to the exemption for registration provided by Section 4(a)(2) of the Securities Act and Rule 506 of the SEC’s Regulation D thereunder.   Share-based Incentive Plans   On March 23, 2018, the Board of Directors voted to approve the 2018 Stock Option Plan which reserves 450,000 non-qualified stock options to be granted to employees. The Company has three additional stock option plans that include both incentive and non-qualified stock options to be granted to certain eligible employees, non-employee directors, or consultants of the Company. On November 10, 2020, the board voted to increase the 2018 Stock Option Plan from 450,000 options to 900,000 options.   For the three-month and six-month periods ended June 30, 2023, the Company recorded $14,550 and $133,650, respectively, of share-based compensation expense related to the vesting of applicable options granted in 2023 and prior years. For the three- and six-month periods ended June 30, 2022, the Company recorded $16,916 and $35,012, respectively of share-based compensation expense related to the vesting of applicable options granted in 2022 and prior years.      On May 12, 2023, the Company received a notice of exercise of options to purchase 3,500 common shares of the Company’s stock from one board member and one employee. The options were exercised at $0.975 per share and the Company received proceeds of $3,412.

v3.23.2

Note 7 - Leases	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Lessee, Operating Leases and Finance Lease [Text Block]	Note 7. Leases   We have operating leases for our corporate offices in Canada. Our leases have remaining lease terms of one month to two months, and our primary operating leases include options to extend the leases for four years. Future renewal options that are not likely to be executed as of the balance sheet date are excluded from right-of-use assets and related lease liabilities.   We report operating leased assets, as well as operating lease current and noncurrent obligations on our balance sheets for the right to use the building in our business.   The components of lease expense were as follows:       Three Months Ended June 30, 2023     Three Months Ended June 30, 2022   Operating lease cost   $ 9,508     $ 10,015         Six Months Ended June 30, 2023     Six Months Ended June 30, 2022   Operating lease cost   $ 18,959     $ 20,108     Supplemental cash flow information related to leases was as follows:       Six Months Ended June 30, 2023     Six Months Ended June 30, 2022   Cash paid for amounts included in leases:                 Operating cash flows from operating leases   $ 19,522     $ 20,704     Supplemental balance sheet information related to leases was as follows:       June 30, 2023     December 31, 2022   Operating leases:                 Operating lease right-of-use assets   $ 5,058     $ 23,063   Current portion of operating lease obligations   $ 3,601     $ 22,199   Operating lease obligations, net of current portion     -       -   Total operating lease liabilities   $ 3,601     $ 22,199         June 30, 2023     December 31, 2022   Weighted Average Remaining Lease Term                 Operating lease (in years)     0.1       0.6                     Weighted Average Discount Rate                 Operating lease     9.0 %     9.0 %   A summary of future minimum payments under non-cancellable operating lease commitment as of June 30, 2023 is as follows:   Years ending December 31,   Total   2023 (remainder of year)     4,548   Total lease liabilities   $ 4,548   Less amount representing interest     (947 ) Total     3,601   Less current portion     (3,601 )     $ -

v3.23.2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	General Presentation and Basis of Condensed Consolidated Financial Statements   The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), and with the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2022 that was filed on March 31, 2023.   In the opinion of management, the Company has prepared the accompanying unaudited condensed consolidated financial statements on the same basis as its audited consolidated financial statements, and these unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments necessary for a fair presentation of the results of the interim periods presented. The operating results for the interim periods presented are not necessarily indicative of the results expected for the full year 2023.
Liquidity and Management’s Plans, Policy [Policy Text Block]	Liquidity and Management’s Plans   At June 30, 2023, the Company reported cash and cash equivalents of $1,900,723 and net working capital of $2,052,199 and reported cash flows provided by operations of $79,502 for the six months ended June 30, 2023. The Company has reported an operating loss of $486,898 for the six months ended June 30, 2023 and has an accumulated deficit of $69,908,158 at June 30, 2023.   Management believes that the Company has adequate cash resources to fund operations during the next 12 months after the filing of this quarterly report on Form 10-Q. In addition, management continues to explore opportunities and has organized additional resources to monetize its patents. However, there can be no assurance that anticipated growth in new business will occur, and that the Company will be successful in launching new products and services. Management continues to seek alternative sources of capital to support the growth of future operations.   Although there can be no assurances, the Company believes that the above management plans will be sufficient to meet the Company’s working capital requirements through the end of August 2024 and will have a positive impact on the Company for the foreseeable future.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation   The condensed consolidated financial statements include the accounts of PAID, Inc. and its wholly owned subsidiaries, PAID Run, LLC and ShipTime Canada, Inc. All intercompany accounts and transactions have been eliminated.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency   The currency of ShipTime, the Company’s international subsidiary, is in Canadian dollars. Foreign currency denominated assets and liabilities are translated into U.S. dollars using the exchange rates in effect at June 30, 2023 and December 31, 2022. Results of operations and cash flows are translated using the average exchange rates throughout the period. The effect of exchange rate fluctuations on translation of assets and liabilities is included as a separate component of shareholders’ equity in accumulated other comprehensive income.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Geographic Concentrations   The Company conducts business in the U.S. and Canada. For customers headquartered in their respective countries, the Company derived approximately 99% of its revenues from Canada and 1% from the U.S. during the three and six months ended June 30, 2023 and 2022.   At June 30, 2023, the Company maintained 100% of its property and equipment, net of accumulated depreciation, in Canada.
Lessee, Leases [Policy Text Block]	Right of Use Assets   A right-of-use asset represents a lessee’s right to use a leased asset for the term of the lease. Our right-of-use assets generally consist of an operating lease for a building.   Right-of-use assets are measured initially at the present value of the lease payments, plus any lease payments made before a lease began and any initial direct costs, such as commissions paid to obtain a lease.   Right-of-use assets are subsequently measured at the present value of the remaining lease payments, adjusted for incentives, prepaid or accrued rent, and any initial direct costs not yet expensed.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Long-Lived Assets   The Company reviews the carrying values of its long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the expected future cash flow from the use of the asset and its eventual disposition is less than the carrying amount of the asset, an impairment loss is recognized and measured using the fair value of the related asset. No impairment charges were recognized during the three and six months ended June 30, 2023 and 2022. There can be no assurance, however, that market conditions will not change or demand for the Company’s services will continue, which could result in impairment of long-lived assets in the future.
Revenue [Policy Text Block]	Revenue Recognition   The Company generates revenue principally from fees for coordinating shipping services, sales of shipping calculator subscriptions, brewery management software subscriptions, merchant processing services and client services.   The Company recognizes revenue by taking into consideration the following five steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. Due to the nature of the Company’s product offerings and contracts associated with those products, the Company’s deliverables do not fluctuate, and its revenue recognition is consistent.   Nature of Goods and Services   For label generation service revenues, the Company recognizes revenue when a customer has successfully prepared a shipping label and scheduled a pickup. Customers with pickups after the end of the reporting period are recorded as contract liabilities on the condensed consolidated balance sheets. The service is offered to consumers via an online registration and allows users to create a shipping label using a credit card on their account (all customers must have a valid credit card on file to process shipments on the ShipTime platform).   For shipping calculator revenues and brewery management software revenues, the Company recognizes subscription revenue on a monthly basis. Shipping calculator customers’ renewal dates are based on their date of installation and registration of the shipping calculator line of products. The timing of the revenue recognition and cash collection may vary within a given quarter and the deposits for future services are recorded as contract liabilities on the condensed consolidated balance sheets. Brewery management software subscribers are billed monthly at the first of the month. All payments are made via credit card for the following month.   Merchant processing revenue consists of fees a seller pays us to process their payment transactions and is recognized upon authorization of a transaction. Revenue is recognized net of estimated refunds, which are reversals of transactions initiated by sellers. We act as the merchant of record for our sellers, which puts us in their shoes with respect to card networks and puts the risk for refunds and chargebacks on us. The gross transaction fees collected from sellers is recognized as revenue as we are the primary obligor to the seller and are responsible for processing the payment, have latitude in establishing pricing with respect to the sellers and other terms of service, have sole discretion in selecting the third party to perform the settlement, and assume the credit risk for the transaction processed.   Revenue Disaggregation   The Company operates in six reportable segments (see below).   Performance Obligations   At contract inception, an assessment of the goods and services promised in the contracts with customers is performed and a performance obligation is identified for each distinct promise to transfer to the customer a good or service (or bundle of goods or services). To identify the performance obligations, the Company considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. Revenue is recognized when the performance obligation has been met, which is when the customer has successfully prepared a shipping label and scheduled a pickup for shipping coordination and label generation services. The Company considers control to have transferred at that time because the Company has a present right to payment at that time, the Company has provided the shipping label, and the customer is able to direct the use of, and obtain substantially all of the remaining benefits from the shipping label.   For arrangements under which the Company provides a subscription for shipping calculator services and brewery management software, the Company satisfies its performance obligations over the life of the subscription, typically twelve months or less.   Customers of PaidPayments receive a merchant identification number which allows them to process credit card transactions. Once the transaction is approved, the funds are disbursed in an overnight feed and the Company has met its performance obligation.   The Company has no shipping and handling activities related to contracts with customers.   Revenues are recognized net of any taxes collected from customers, which are subsequently remitted to government authorities.   Significant Payment Terms   Pursuant to the Company’s contracts with its customers, amounts are collected up front primarily through credit/debit card transactions. The Company has offered its customers consolidated payments which are billed weekly and are paid with a credit card on file. Accordingly, the Company determined that its contracts with customers do not include extended payment terms or a significant financing component.   Variable Consideration   In some cases, the nature of the Company’s contracts may give rise to variable consideration, including rebates and cancellations or other similar items that generally decrease the transaction price.   Variable consideration is estimated at the most likely amount that is expected to be earned. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of the anticipated performance and all information (historical, current and forecasted) that is reasonably available.   Revenues are recorded net of variable consideration, such as rebates, refunds, and cancellations.   Warranties   The Company’s products and services are provided on an “as is” basis and no warranties are included in the contracts with customers. Also, the Company does not offer separately priced extended warranty or product maintenance contracts.   Contract Assets   Typically, the Company has already collected revenue from the customer at the time it has satisfied its performance obligation. Accordingly, the Company has only a small balance of accounts receivable, totaling $217,174 and $169,074 as of June 30, 2023 and December 31, 2022, respectively. The Company has no customers that made up 10% of the accounts receivable balance at June 30, 2023. Generally, the Company does not have material amounts of contract assets since revenue is recognized as control of goods is transferred or as services are performed.   Contract Liabilities (Deferred Revenue)   Contract liabilities are recorded when cash payments are received in advance of the Company’s performance (including rebates). Contract liabilities were $12,475 and $13,020 at June 30, 2023 and December 31, 2022, respectively. During the six months ended June 30, 2023, the Company recognized revenues of $13,020, related to contract liabilities outstanding at the beginning of the period.
Earnings Per Share, Policy [Policy Text Block]	Income (Loss) Per Common Share   Basic earnings (loss) per share represent income (loss) divided by the weighted-average number of common shares outstanding during the period. Diluted income (loss) per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income (loss) that would result from the assumed issuance. The potential common shares that may be issued by the Company relate to outstanding stock options and have been excluded from the computation of diluted income (loss) per share if they would reduce the reported loss per share and therefore have an anti-dilutive effect.   For the the six months ended June 30, 2023, there was approximately 6,400 potentially dilutive shares excluded from the diluted loss per share calculation, as their effect would be anti-dilutive.   The following is a reconciliation of the numerators and denominators of the basic and diluted income (loss) per common share computations for the three and six months ended June 30, 2023 and 2022.       Three Months Ended June 30, 2023     Three Months Ended June 30, 2022   Numerator:                 Net income   $ 57,174     $ 80,000   Denominator:                 Basic weighted-average shares outstanding     8,008,312       7,775,266   Effect of dilutive securities     4,983       25,996   Diluted weighted-average shares outstanding     8,013,295       7,801,262   Basic income per common share   $ 0.01     $ 0.01   Diluted income per common share   $ 0.01     $ 0.01         Six Months Ended June 30, 2023     Six Months Ended June 30, 2022   Numerator:                 Net income (loss)   $ (237,754 )   $ 19,546   Denominator:                 Basic weighted-average shares outstanding     7,866,386       7,774,270   Effect of dilutive securities     -       29,874   Diluted weighted-average shares outstanding     7,866,386       7,804,144   Basic income (loss) per share   $ (0.03 )   $ -   Diluted income (loss) per share   $ (0.03 )   $ -
Segment Reporting, Policy [Policy Text Block]	Segment Reporting   The Company reports information about segments of its business in its annual consolidated financial statements and reports selected segment information in its quarterly reports issued to shareholders. The Company also reports on its entity-wide disclosures about the products and services it provides and reports revenues and its major customers. The Company’s six reportable segments are managed separately based on fundamental differences in their operations. At June 30, 2023, the Company operated in the following six reportable segments:   a. Client services; b. Shipping calculator services; c. Brewery management software; d. Merchant processing services; e. Shipping coordination and label generation services; and f. Corporate operations   The Company evaluates performance and allocates resources based upon operating income. The accounting policies of the reportable segments are the same as those described in this summary of significant accounting policies. The Company’s chief operating decision maker is the Chief Executive Officer/Chief Financial Officer.   The following table compares total revenue for the periods indicated.       Three Months Ended     Six Months Ended       June 30, 2023     June 30, 2022     June 30, 2023     June 30, 2022   Client services   $ 28     $ 477     $ 66     $ 757   Shipping calculator services     516       987       1,168       6,531   Brewery management software     8,275       8,356       16,250       17,731   Merchant processing services     15,375       4,445       40,218       16,498   Shipping coordination and label generation services     4,106,187       4,521,400       7,878,954       8,103,849   Total revenues   $ 4,130,381     $ 4,535,665     $ 7,936,656     $ 8,145,366     The following table compares total income (loss) from operations for the periods indicated.       Three Months Ended     Six Months Ended       June 30, 2023     June 30, 2022     June 30, 2023     June 30, 2022   Client services   $ 28     $ 365     $ 66     $ 645   Shipping calculator services     (391 )     (1,076 )     (736 )     2,489   Brewery management software     4,348       (19,323 )     6,773       (24,066 ) Merchant processing services     4,937       (4,060 )     10,696       (21 ) Shipping coordination and label generation services     (54,978 )     214,784       (352,735 )     181,143   Corporate operations     (21,314 )     (31,601 )     (150,962 )     (60,655 ) Total income (loss) from operations   $ (67,370 )   $ 159,089     $ (486,898 )   $ 99,535
Subsequent Events, Policy [Policy Text Block]	Subsequent Events   On July 25, 2023, the Board of Directors approved the terms of an amendment to the Convertible Note due from Embolx.  The note reached its maturity on July 19, 2023 and as it has not been paid in full, the face value of the note has increased by 20% (See Note 2). The amendment includes an investment of an additional $500,000 with a 25% original issue discount and a 2.75 times liquidation preference on the face value of the entire note receivable and an extension for nine months.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements   In September 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326)-Measurement of Credit Losses on Financial Instruments, (“ASU 2016-13”), supplemented by subsequent accounting standards updates. The new standard requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. ASU 2016-13, as amended, is effective for fiscal years beginning after December 15, 2022. We adopted ASU 2016-13 on January 1, 2023. As of June 30, 2023, the Company has $217,174 of accounts receivable and notes receivable of $1,854,167. Based on the nature of our accounts receivable and the process of granting credit and collecting debt we have determined that there are no expected credit losses for our accounts receivable. The Company has one note receivable and is a senior secure lender with an absolute obligation. Consideration has been taken into the contractual obligation, the valuation of the assets and the senior position of the repayment. We have determined that there are no expected credit losses for our note receivable. The adoption of this standard did not have a material impact on our consolidated financial statements or disclosures. Specifically, our estimate of expected credit losses as of June 30, 2023, using our expected credit loss evaluation process described above, resulted in no adjustments to the provision for credit losses and no cumulative-effect adjustment to accumulated deficit on the adoption date of the standard.

v3.23.2

Note 1 - Organization and Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, 2023     Three Months Ended June 30, 2022   Numerator:                 Net income   $ 57,174     $ 80,000   Denominator:                 Basic weighted-average shares outstanding     8,008,312       7,775,266   Effect of dilutive securities     4,983       25,996   Diluted weighted-average shares outstanding     8,013,295       7,801,262   Basic income per common share   $ 0.01     $ 0.01   Diluted income per common share   $ 0.01     $ 0.01       Six Months Ended June 30, 2023     Six Months Ended June 30, 2022   Numerator:                 Net income (loss)   $ (237,754 )   $ 19,546   Denominator:                 Basic weighted-average shares outstanding     7,866,386       7,774,270   Effect of dilutive securities     -       29,874   Diluted weighted-average shares outstanding     7,866,386       7,804,144   Basic income (loss) per share   $ (0.03 )   $ -   Diluted income (loss) per share   $ (0.03 )   $ -
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended     Six Months Ended       June 30, 2023     June 30, 2022     June 30, 2023     June 30, 2022   Client services   $ 28     $ 477     $ 66     $ 757   Shipping calculator services     516       987       1,168       6,531   Brewery management software     8,275       8,356       16,250       17,731   Merchant processing services     15,375       4,445       40,218       16,498   Shipping coordination and label generation services     4,106,187       4,521,400       7,878,954       8,103,849   Total revenues   $ 4,130,381     $ 4,535,665     $ 7,936,656     $ 8,145,366       Three Months Ended     Six Months Ended       June 30, 2023     June 30, 2022     June 30, 2023     June 30, 2022   Client services   $ 28     $ 365     $ 66     $ 645   Shipping calculator services     (391 )     (1,076 )     (736 )     2,489   Brewery management software     4,348       (19,323 )     6,773       (24,066 ) Merchant processing services     4,937       (4,060 )     10,696       (21 ) Shipping coordination and label generation services     (54,978 )     214,784       (352,735 )     181,143   Corporate operations     (21,314 )     (31,601 )     (150,962 )     (60,655 ) Total income (loss) from operations   $ (67,370 )   $ 159,089     $ (486,898 )   $ 99,535

v3.23.2

Note 3 - Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	June 30, 2023 (unaudited)     December 31, 2022   Payroll and related costs   $ 148,271     $ 195,803   Professional and consulting     -       3,685   Royalties     40,075       40,075   Accrued cost of revenues     190,064       168,657   Sales tax     22,228       22,228   Other     410       410   Total   $ 401,048     $ 430,858

v3.23.2

Note 4 - Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Patents     Trade Name     Technology & Software     Customer Relationships     Total   Gross carrying amount   $ 16,000     $ 809,158     $ 600,515     $ 4,756,005     $ 6,181,678   Accumulated amortization     (16,000 )     (809,158 )     (600,515 )     (2,176,790 )     (3,602,463 )     $ -     $ -     $ -     $ 2,579,215     $ 2,579,215       Patents     Trade Name     Technology & Software     Customer Relationships     Total   Gross carrying amount   $ 16,000     $ 789,212     $ 587,776     $ 4,644,033     $ 6,037,021   Accumulated amortization     (16,000 )     (789,212 )     (587,776 )     (1,980,722 )     (3,373,710 )     $ -     $ -     $ -     $ 2,663,311     $ 2,663,311

v3.23.2

Note 7 - Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended June 30, 2023     Three Months Ended June 30, 2022   Operating lease cost   $ 9,508     $ 10,015       Six Months Ended June 30, 2023     Six Months Ended June 30, 2022   Operating lease cost   $ 18,959     $ 20,108
Cash Flow, Leases, Lessee [Table Text Block]	Six Months Ended June 30, 2023     Six Months Ended June 30, 2022   Cash paid for amounts included in leases:                 Operating cash flows from operating leases   $ 19,522     $ 20,704
Balance Sheet, Leases, Lessee [Table Text Block]	June 30, 2023     December 31, 2022   Operating leases:                 Operating lease right-of-use assets   $ 5,058     $ 23,063   Current portion of operating lease obligations   $ 3,601     $ 22,199   Operating lease obligations, net of current portion     -       -   Total operating lease liabilities   $ 3,601     $ 22,199
Weighted Average Remaining Lease Term and Discount Rate [Table Text Block]	June 30, 2023     December 31, 2022   Weighted Average Remaining Lease Term                 Operating lease (in years)     0.1       0.6                     Weighted Average Discount Rate                 Operating lease     9.0 %     9.0 %
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Years ending December 31,   Total   2023 (remainder of year)     4,548   Total lease liabilities   $ 4,548   Less amount representing interest     (947 ) Total     3,601   Less current portion     (3,601 )     $ -

v3.23.2

Note 1 - Organization and Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jul. 25, 2023	Dec. 31, 2022
Cash and Cash Equivalents, at Carrying Value	$ 1,900,723		$ 1,900,723			$ 1,787,248
Net Working Capital	2,052,199		2,052,199
Net Cash Provided by (Used in) Operating Activities			79,502	$ 427,973
Operating Income (Loss)	(67,370)	$ 159,089	(486,898)	$ 99,535
Retained Earnings (Accumulated Deficit)	(69,908,158)		$ (69,908,158)			(69,670,404)
Number of Reportable Segments			6
Accounts Receivable, after Allowance for Credit Loss, Current	217,174		$ 217,174			169,074
Contract with Customer, Liability	12,475		12,475			13,020
Contract with Customer, Liability, Revenue Recognized			$ 13,020
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)			6,400
Financing Receivable, after Allowance for Credit Loss, Current	$ 1,854,167		$ 1,854,167			$ 1,604,167
Embolx [Member] | Subsequent Event [Member]
Note Receivable, Increase in Face Value, Percentage					20.00%
Note Receivable, Over Allotment Option					$ 500,000
Note Receivable, Purchase Discount					25.00%
Notes Receivable, Liquidation Preference on Face Value					2.75
CANADA
Property and Equipment Net Percentages	100.00%		100.00%
CANADA | Revenue from Contract with Customer Benchmark [Member] | Customer Concentration Risk [Member]
Concentration Risk, Percentage	99.00%		99.00%
UNITED STATES | Revenue from Contract with Customer Benchmark [Member] | Customer Concentration Risk [Member]
Concentration Risk, Percentage	1.00%		1.00%

v3.23.2

Note 1 - Organization and Significant Accounting Policies - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income	$ 57,174	$ 80,000	$ (237,754)	$ 19,546
Weighted average number of common shares outstanding - basic (in shares)	8,008,312	7,775,266	7,866,386	7,774,270
Effect of dilutive securities (in shares)	4,983	25,996	0	29,874
Diluted weighted-average shares outstanding (in shares)	8,013,295	7,801,262	7,866,386	7,804,144
Basic income per common share (in dollars per share)	$ 0.01	$ 0.01	$ (0.03)	$ 0
Diluted income per common share (in dollars per share)	$ 0.01	$ 0.01	$ (0.03)	$ 0

v3.23.2

Note 1 - Organization and Significant Accounting Policies - Schedule of Segment Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues, net	$ 4,130,381	$ 4,535,665	$ 7,936,656	$ 8,145,366
Operating income loss	(67,370)	159,089	(486,898)	99,535
Service [Member]
Revenues, net	28	477	66	757
Operating income loss	28	365	66	645
Shipping Calculator Services [Member]
Revenues, net	516	987	1,168	6,531
Operating income loss	(391)	(1,076)	(736)	2,489
Brewery Management Software [Member]
Revenues, net	8,275	8,356	16,250	17,731
Operating income loss	4,348	(19,323)	6,773	(24,066)
Merchant Processing Services [Member]
Revenues, net	15,375	4,445	40,218	16,498
Operating income loss	4,937	(4,060)	10,696	(21)
Shipping Coordination and Label Generation Services [Member]
Revenues, net	4,106,187	4,521,400	7,878,954	8,103,849
Operating income loss	(54,978)	214,784	(352,735)	181,143
Corporate Operations [Member]
Operating income loss	$ (21,314)	$ (31,601)	$ (150,962)	$ (60,655)

v3.23.2

Note 2 - Notes Receivable (Details Textual) - USD ($)	Oct. 13, 2022	Oct. 31, 2022
Warrant [Member]
Investment, Expiration Term (Year)	5 years
Investment, Purchase Price, Percentage of Original Principal		50.00%
Securities Purchase Agreement [Member]
Financing Receivable, after Allowance for Credit Loss, Total	$ 1,875,000
Note Receivable, Purchase Discount	20.00%
Financing Receivable, Unamortized Purchase Premium (Discount)	$ (375,000)
Financing Receivable, Term (Month)	9 months
Financing Receivable, Interest Rate, Stated Percentage	20.00%
Investment Income, Amortization of Discount	$ 250,000
Note Receivable, Potential Investment Amount	2,000,000
Note Receivable, Over Allotment Option	$ 500,000

v3.23.2

Note 3 - Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Payroll and related costs	$ 148,271	$ 195,803
Professional and consulting	0	3,685
Royalties	40,075	40,075
Accrued cost of revenues	190,064	168,657
Sales tax	22,228	22,228
Other	410	410
Total	$ 401,048	$ 430,858

v3.23.2

Note 4 - Intangible Assets (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Amortization of Intangible Assets	$ 74,514	$ 78,472	$ 148,580	$ 160,511

v3.23.2

Note 4 - Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Intangible asset, gross	$ 6,181,678	$ 6,037,021
Accumulated amortizatio	(3,602,463)	(3,373,710)
Finite-Lived Intangible Assets, Net	2,579,215	2,663,311
Patents [Member]
Intangible asset, gross	16,000	16,000
Accumulated amortizatio	(16,000)	(16,000)
Finite-Lived Intangible Assets, Net	0	0
Trade Names [Member]
Intangible asset, gross	809,158	789,212
Accumulated amortizatio	(809,158)	(789,212)
Finite-Lived Intangible Assets, Net	0	0
Technology and Software [Member]
Intangible asset, gross	600,515	587,776
Accumulated amortizatio	(600,515)	(587,776)
Finite-Lived Intangible Assets, Net	0	0
Customer Relationships [Member]
Intangible asset, gross	4,756,005	4,644,033
Accumulated amortizatio	(2,176,790)	(1,980,722)
Finite-Lived Intangible Assets, Net	$ 2,579,215	$ 2,663,311

v3.23.2

Note 6 - Shareholders' Equity (Details Textual) - USD ($)						1 Months Ended		3 Months Ended			6 Months Ended		12 Months Ended
	May 12, 2023	Mar. 21, 2023	Mar. 20, 2023	Mar. 21, 2021	Jan. 31, 2020	Feb. 29, 2020	Feb. 28, 2020	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2020	Dec. 31, 2022	Nov. 10, 2020	Mar. 23, 2018	Dec. 30, 2016
Preferred Stock, Shares Authorized (in shares)									20,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)									$ 0.001
Common Stock Shares Exchanged (in shares)													178,000
Stock Issued During Period, Value, Issued for Services										$ 25,000
Deferred Compensation Arrangement with Individual, Shares Issued (in shares)										13,021
Share-Based Payment Arrangement, Expense								$ 94,238		$ 41,916	$ 486,776	$ 60,012
Deferred Compensation Arrangement with Individual, Fair Value of Shares Issued										$ 25,000
Deferred Compensation Arrangement with Individual, Exercise Price (in dollars per share)										$ 1.92
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)	3,500
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share)	$ 0.975
Proceeds from Stock Options Exercised	$ 3,412										3,412	0
Non-qualified Stock Option [Member] | Two Thousand Eighteen Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)															900,000	450,000
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Expense								14,550		$ 133,650	16,916	$ 35,012
CEO/CFO [Member]
Stock Issued During Period, Shares, Issued for Services (in shares)		46,961
Stock Issued During Period, Value, Issued for Services			$ 82,180
Share-Based Payment Arrangement, Expense								$ 54,688			$ 328,126
Deferred Compensation Arrangement with Individual, Shares Subject to Repurchase (in shares)								125,000			125,000
Chief Executive Officer [Member]
Deferred Compensation Arrangement with Individual, Shares Issued (in shares)				250,000
Share-Based Payment Arrangement, Expense				$ 437,500
Chief Financial Officer [Member]
Deferred Compensation Arrangement with Individual, Shares Issued (in shares)		125,000
Share-Based Payment Arrangement, Expense				$ 218,750							$ 218,750
Chief Operating Officer [Member]
Deferred Compensation Arrangement with Individual, Shares Issued (in shares)		13,889
Share-Based Payment Arrangement, Expense								$ 25,000
Deferred Compensation Arrangement with Individual, Fair Value of Shares Issued		$ 25,000
ShipTime Acquisition [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)											5,918
Conversion of Series A Preferred Stock to Common Stock [Member]
Conversion of Stock, Shares Converted (in shares)							1,015,851
Conversion of Stock, Shares Issued (in shares)							1,015,851
Additional Conversion of Series A Preferred Stock to Common Stock [Member]
Conversion of Stock, Shares Issued (in shares)							2,089,298
Series A Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)								5,000,000			5,000,000			5,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)								$ 0.001			$ 0.001			$ 0.001
Preferred Stock, Shares Issued, Total (in shares)								0			0			0			5,000,000
Percentages of Payment Obligation									1.50%
Preferred Stock, Liquidation Preference Per Share (in dollars per share)									$ 3.03
Preferred Stock, Shares Outstanding, Ending Balance (in shares)								0	0		0			0
ShipTime Canada Stock [Member]
Conversion of Stock, Shares, Convertible (in shares)						1
Common Stock Shares Exchanged (in shares)													500
PAID Preferred Stock [Member]
Conversion of Stock, Shares Issuable (in shares)					45
PAID Common Stock [Member]
Conversion of Stock, Shares Issuable (in shares)					311		356
Common Stock Exercised Shares (in shares)													1,461,078
Common Stock, Capital Shares Reserved for Future Issuance (in shares)								2,106,808			2,106,808
PAID Series A Preferred Stock [Member]
Preferred Stock Exercised Shares (in shares)													1,461,078

v3.23.2

Note 7 - Leases (Details Textual)	Jun. 30, 2023
Lessee, Operating Lease, Renewal Term (Year)	4 years
Minimum [Member]
Lessee, Operating Lease, Remaining Lease Term (Month)	1 month
Maximum [Member]
Lessee, Operating Lease, Remaining Lease Term (Month)	2 months

v3.23.2

Note 7 - Leases - Schedule of Lease Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating lease cost	$ 9,508	$ 10,015	$ 18,959	$ 20,108

v3.23.2

Note 7 - Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating cash flows from operating leases	$ 19,522	$ 20,704

v3.23.2

Note 7 - Leases - Schedule of Supplemental Balance Sheet Information (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Operating lease right-of-use assets	$ 5,058	$ 23,063
Current portion of operating lease obligations	3,601	22,199
Operating lease obligations, net of current portion	0	0
Total	$ 3,601	$ 22,199

v3.23.2

Note 7 - Leases - Schedule of Lease Terms (Details)	Jun. 30, 2023	Dec. 31, 2022
Weighted Average Remaining Lease Term
Operating lease (in years) (Year)	1 month 6 days	7 months 6 days
Weighted Average Discount Rate
Operating lease	9.00%	9.00%

v3.23.2

Note 7 - Leases -Schedule of Operating Lease Minimum Payments (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
2023 (remainder of year)	$ 4,548
Total lease liabilities	4,548
Less amount representing interest	(947)
Total	3,601	$ 22,199
Less current portion	$ (3,601)	$ (22,199)

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