Cash Flow

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CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (1,756,500) $ (806,000)
Less: Discontinued operations, net of tax 478,300 340,400
Net loss from continuing operations (2,234,800) (1,146,400)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Provision for doubtful accounts receivable   65,300
Depreciation and amortization [1],[2] 408,700 359,400
Stock-based compensation expense 56,800 72,500
Non-cash expense for interest, common stock issued for debt penalty 820,000  
Non-cash expense for interest, warrants - accretion of debt discount 4,000 99,500
Non-cash expense for extension of warrants 83,600  
Gain on disposition of assets   (25,600)
Changes in operating assets and liabilities:    
Accounts receivable 446,100 148,200
Costs in Excess of billings on uncompleted contracts (98,700) 114,700
Prepaid expenses and other assets 281,400 (95,900)
Accounts payable and accrued liabilities 644,600 (361,400)
Billings in excess of revenue on uncompleted contracts (840,400) 362,900
Deferred revenue (94,200) (22,200)
Payroll taxes payable (7,000) 11,400
Net cash provided by operating activities (529,900) (417,600)
Cash flows from investing activities:    
Insurance proceeds from property damage   59,000
Purchase of property and equipment (61,700) (156,100)
Proceeds (purchases) of intangibles 2,400 (28,100)
Net cash used in investing activities (59,300) (125,200)
Cash flows from financing activities:    
Payments of notes and capital lease obligations (557,000) (455,200)
Payments of related party notes payable and accrued interest   (20,000)
Proceeds from short-term notes 450,000 200,000
Proceeds from exercise of warrants   25,000
Proceeds from warrant extensions 138,600 29,900
Proceeds from the sale of common stock and warrants, net of expenses   400,000
Net cash provided by (used in) financing activities 31,600 179,700
Net cash flows from discontinued operations 611,700 361,100
Net increase in cash 54,100 (2,000)
Cash at the beginning of period 233,200 [3] 257,100
Cash at the end of period 287,300 255,100
Supplemental disclosures of cash flow information:    
Cash paid for interest 53,300 98,000
Financing of prepaid insurance premiums $ 175,300 278,600
Issuance of common stock for other assets   $ 720,000
[1] Excludes discontinued operations
[2] Includes depreciation of property, equipment and leasehold improvement and amortization of intangibles
[3] These numbers were derived from the audited financial statements for the year ended December 31, 2016.

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