Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.20.1
Consolidated Statement of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss from continuing operations $ (903,800) $ (2,000,100)
Loss from discontinued operations (1,785,400) (1,093,800)
Net loss (2,689,200) (3,093,900)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 346,900 541,300
Stock-based compensation expense 7,300 101,400
Note receivable discount (9,900) (39,400)
Stock issued for services 102,000
Non-cash expense for interest, common stock issued for debt penalty 71,600 1,226,900
Impairment of patent costs 19,200
Impairment of assets 32,900 70,700
Provision for doubtful accounts receivable (215,700) (232,600)
Non-cash expense for interest, warrants - accretion of debt discount 36,700
Gain on disposition of assets (2,200)
Gain on debt extinguishment (128,000)
Changes in operating assets and liabilities:    
Accounts receivable 592,400 (138,500)
Costs in excess of billings on uncompleted contracts 71,800 (314,300)
Inventory 26,100
Prepaid expenses and other assets 187,800 332,900
Accounts payable and accrued liabilities (252,300) 443,600
Billings in excess of revenue on uncompleted contracts (85,900) 242,900
Deferred revenue (248,800) (162,600)
Payroll taxes payable 29,700 24,800
Net cash used by operating activities (2,100,800) (1,003,600)
Cash flows from investing activities:    
Purchase of property and equipment (70,100) (60,300)
Purchase of intangibles (100)
Proceeds from notes receivable 552,800 224,000
Net cash provided by investing activities 482,700 163,600
Cash flows from financing activities:    
Payments of notes and capital lease obligations (408,900) (818,400)
Proceeds from short-term notes – related party 155,000
Proceeds from short-term notes 1,885,000 850,000
Proceeds from outside minority investment in new subsidiary 226,000 450,000
Proceeds from the sale of common stock and warrants, net of expenses 420,000
Net cash provided by financing activities 1,857,100 901,600
Net increase in cash 239,000 61,600
Cash at the beginning of period 115,700 54,100
Cash at the end of period 354,700 115,700
Supplemental disclosures of cash flow information:    
Cash paid for interest 134,500 12,100
Financing of prepaid insurance premiums $ 330,200 $ 373,900