Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Loss from continuing operations $ (1,910,300) $ (764,900)
Loss from discontinued operations (1,320,900)
Net loss (1,910,300) (2,085,800)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 131,700 275,700
Stock-based compensation expense 14,200 5,200
Note receivable discount (9,900)
Non-cash expense for interest, common stock issued for debt penalty 125,400 51,300
Provision for doubtful accounts receivable (10,800)
Non-cash expense for interest, accretion of debt discount 60,100 49,700
Gain on disposition of assets 3,100
Changes in operating assets and liabilities:    
Accounts receivable 223,900 597,000
Costs in excess of billings on uncompleted contracts (67,100) (60,000)
Inventory (136,300)
Prepaid expenses and other assets 39,500 (41,700)
Accounts payable and accrued liabilities 220,000 (600)
Billings in excess of revenue on uncompleted contracts (15,000) (250,800)
Deferred revenue (24,700) (183,300)
Payroll taxes payable 24,900 24,900
Net cash used in operating activities (1,324,500) (1,625,200)
Cash flows from investing activities:    
Purchase of property and equipment (131,600) (70,100)
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) 708,700
Cash flows from financing activities:    
Payments of notes and capital lease obligations (173,900) (324,300)
Proceeds from short-term notes 882,200 1,190,000
Proceeds from paycheck protection program 590,300
Net cash provided by financing activities 1,298,600 865,700
Net decrease in cash (157,500) (50,800)
Cash at the beginning of period 354,700 115,700
Cash at the end of period 197,200 64,900
Supplemental disclosures of cash flow information:    
Cash paid for interest 21,200 137,300
Financing of prepaid insurance premiums $ 94,700 $ 330,200