Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.22.1
Consolidated Statement of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Income (loss) from continuing operations $ 227,600 $ (2,334,300)
Income (loss) from discontinued operations 292,100 (429,800)
Net income (loss) 519,700 (2,764,100)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 134,000 160,300
Stock-based compensation expense 12,600 19,000
Non-cash expense for interest, common stock issued for debt penalty 226,900
Provision for doubtful accounts receivable (1,000) (10,800)
Gain on abandonment of subsidiary (1,458,000)
Non-cash expense for interest, accretion of debt discount 29,900 82,600
Gain on debt distinguishment (623,800)
Gain on disposition of assets (217,300) (274,900)
Changes in operating assets and liabilities:    
Accounts receivable (160,000) 322,000
Contract assets 3,200 235,700
Inventory (106,200) (291,400)
Prepaid expenses and other assets 120,900 185,700
Accounts payable, accrued liabilities, and customer deposits 26,700 421,800
Contract liabilities 202,000 (3,200)
Deferred revenue (30,200) (32,900)
Payroll taxes payable 33,200
Net cash used in operating activities (1,547,500) (1,690,100)
Cash flows from investing activities:    
Purchase of property and equipment (3,000) (131,600)
Proceeds from the sale of fixed assets 192,100 292,100
Net cash provided by investing activities 189,100 160,500
Cash flows from financing activities:    
Payments of notes and capital lease obligations (154,100) (250,300)
Payments of short-term notes - related party (71,100)
Proceeds from short-term notes - related party 10,000
Proceeds from short-term and long-term debt 1,585,000 882,200
Proceeds from paycheck protection program 130,100 590,300
Net cash provided by financing activities 1,499,900 1,222,200
Net increase (decrease) in cash 141,500 (307,400)
Cash at the beginning of period 47,300 354,700
Cash at the end of period 188,800 47,300
Supplemental disclosures of cash flow information:    
Cash paid for interest 37,500 23,500
Financing of prepaid insurance premiums 52,400 94,700
Cash paid for income taxes
Non-cash repayment of debt 188,900 145,300
Common stock and options issued in connection with notes payable 66,700
Non-cash repayment of debt - PPP Loan 623,800
Non-cash payment of interest $ 22,500