Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss from continuing operations $ (970,300) $ (1,254,600)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 69,200 90,000
Stock-based compensation expense 9,500 9,500
Non-cash expense for interest, common stock issued for debt penalty 74,700
Provision for doubtful accounts receivable (200) (10,800)
Non-cash expense for interest, accretion of debt discount 28,700 31,400
Gain on disposition of assets (81,400)
Changes in operating assets and liabilities:    
Accounts receivable (160,100) 357,200
Costs in excess of billings on uncompleted contracts 6,800 (144,500)
Inventory (3,500) (42,000)
Prepaid expenses and other assets (6,400) (56,600)
Accounts payable, accrued liabilities, and customer deposits 30,600 59,700
Billings in excess of revenue on uncompleted contracts 292,400 (2,000)
Deferred revenue (16,500) 67,700
Payroll taxes payable (11,400) 16,600
Net cash used in operating activities (812,600) (803,700)
Cash flows from investing activities:    
Purchase of property and equipment (3,000) (131,600)
Proceeds from the sale of fixed assets 81,400
Net cash provided by (used) in investing activities 78,400 (131,600)
Cash flows from financing activities:    
Payments of notes and capital lease obligations (96,700) (113,400)
Payments of short-term notes - related party (10,000)
Proceeds from short-term notes - related party 10,000
Proceeds from short-term and long-term debt 835,000 262,200
Proceeds from paycheck protection program 130,100 590,300
Net cash provided by financing activities 868,400 739,100
Net increase (decrease) in cash 134,200 (196,200)
Cash at the beginning of period 47,300 354,700
Cash at the end of period 181,500 158,500
Supplemental disclosures of cash flow information:    
Cash paid for interest 26,700 8,300
Financing of prepaid insurance premiums 52,400 94,700
Non-cash repayment of debt 154,700
Non-cash payment of interest $ 22,500