Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.21.1
Consolidated Statement of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Loss from continuing operations $ (2,764,100) $ (903,800)
Loss from discontinued operations (1,785,400)
Net loss (2,764,100) (2,689,200)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 160,300 346,900
Stock-based compensation expense 19,000 7,300
Note receivable discount (9,900)
Non-cash expense for interest, common stock issued for debt penalty 226,900 71,600
Impairment of assets 32,900
Provision for doubtful accounts receivable (10,800) (215,700)
Non-cash expense for interest, accretion of debt discount 82,600 36,700
Gain on disposition of assets (274,900) (2,200)
Changes in operating assets and liabilities:    
Accounts receivable 322,000 592,400
Costs in excess of billings on uncompleted contracts 235,700 71,800
Inventory (291,400) 26,100
Prepaid expenses and other assets 185,700 187,800
Accounts payable, accrued liabilities, and customer deposits 421,800 (252,300)
Billings in excess of revenue on uncompleted contracts (3,200) (85,900)
Deferred revenue (32,900) (248,800)
Payroll taxes payable 33,200 29,700
Net cash used in operating activities (1,690,100) (2,100,800)
Cash flows from investing activities:    
Purchase of property and equipment (131,600) (70,100)
Proceeds from the sale of fixed assets 292,100
Proceeds from outside minority investment in new subsidiary 226,000
Proceeds from notes receivable 552,800
Net cash provided by investing activities 160,500 708,700
Cash flows from financing activities:    
Payments of notes and capital lease obligations (250,300) (408,900)
Proceeds from short-term notes - related party 155,000
Proceeds from short-term notes 882,200 1,885,000
Proceeds from paycheck protection program 590,300
Net cash provided by financing activities 1,222,200 1,631,100
Net (decrease) increase in cash (307,400) 239,000
Cash at the beginning of period 354,700 115,700
Cash at the end of period 47,300 354,700
Supplemental disclosures of cash flow information:    
Cash paid for interest 23,500 134,500
Financing of prepaid insurance premiums 94,700 330,200
Common stock and options issued in connection with notes payable 66,700 29,300
Non-cash repayment of debt $ 145,300