Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Uaudited)

v3.20.1
Condensed Consolidated Statement of Cash Flows (Uaudited) - USD ($)
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss from continuing operations $ (653,400) $ (242,200)
Loss from discontinued operations (336,700)
Net loss (653,400) (578,900)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization [1] 44,000 112,400
Stock-based compensation expense 8,300 600
Note receivable discount (9,900)
Non-cash expense for interest, common stock issued for debt penalty 33,100 20,100
Non-cash expense for interest, warrants - accretion of debt discount 18,400 4,100
Non-cash relief of aged accounts payable (35,700) (171,300)
Changes in operating assets and liabilities:    
Accounts receivable 384,600 (234,200)
Costs in excess of billings on uncompleted contracts (243,100) 253,000
Inventory (76,300)
Prepaid expenses and other assets (96,000) 77,600
Accounts payable and accrued liabilities 112,300 (155,300)
Billings in excess of revenue on uncompleted contracts 136,000 177,300
Deferred revenue 76,000 (120,800)
Payroll taxes payable 8,300 8,300
Net cash used by operating activities (283,500) (617,000)
Cash flows from investing activities:    
Purchase of property and equipment (19,300) (15,000)
Proceeds from notes receivable 226,000
Net cash (used) provided by investing activities (19,300) 211,000
Cash flows from financing activities:    
Payments of notes and capital lease obligations (52,500) (119,400)
Proceeds from short-term notes 150,000 500,000
Net cash provided by financing activities 97,500 380,600
Net decrease in cash (205,300) (25,400)
Cash at the beginning of period 354,700 115,700
Cash at the end of period 149,400 90,300
Supplemental disclosures of cash flow information:    
Cash paid for interest 3,300 105,200
Financing of prepaid insurance premiums $ 94,700 $ 330,200
[1] Includes depreciation of property, equipment and leasehold improvement and amortization of intangibles