Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Uaudited)

v3.20.2
Condensed Consolidated Statement of Cash Flows (Uaudited) - USD ($)
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss from continuing operations $ (1,254,600) $ (754,100)
Loss from discontinued operations (815,700)
Net loss (1,254,600) (1,569,800)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization [1] 90,000 194,400
Stock-based compensation expense 9,500 900
Note receivable discount (9,900)
Non-cash expense for interest, common stock issued for debt penalty 74,700 29,300
Provision for doubtful accounts receivable (10,800)
Non-cash expense for interest, accretion of debt discount 31,400 8,300
Changes in operating assets and liabilities:    
Accounts receivable 357,200 550,000
Costs in excess of billings on uncompleted contracts (144,500) 222,000
Inventory (42,000)
Prepaid expenses and other assets (56,600) (135,400)
Accounts payable and accrued liabilities 59,700 90,300
Billings in excess of revenue on uncompleted contracts (2,000) (239,000)
Deferred revenue 67,700 (175,100)
Payroll taxes payable 16,600 16,500
Net cash used by operating activities (803,700) (1,017,500)
Cash flows from investing activities:    
Purchase of property and equipment (131,600) (64,500)
Proceeds from outside minority investment in new subsidiary 226,000
Proceeds from notes receivable 552,800
Net cash (used in) provided by investing activities (131,600) 714,300
Cash flows from financing activities:    
Payments of notes and capital lease obligations (113,400) (205,500)
Proceeds from paycheck protection program 590,300
Proceeds from short-term notes 262,200 500,000
Net cash provided by financing activities 739,100 294,500
Net decrease in cash (196,200) (8,700)
Cash at the beginning of period 354,700 115,700
Cash at the end of period 158,500 107,000
Supplemental disclosures of cash flow information:    
Cash paid for interest 8,300 109,900
Financing of prepaid insurance premiums $ 94,700 $ 330,200
[1] Includes depreciation of property, equipment and leasehold improvement and amortization of intangibles