Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.23.1
Consolidated Statement of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Loss from continuing operations $ (2,711,500) $ 227,600
Loss from discontinued operations 292,100
Net lncome (loss) (2,711,500) 519,700
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 90,800 134,000
Stock-based compensation expense 12,600
Gain on abandoment of subsidiary   (1,458,000)
Non-cash expense for interest, accretion of debt discount 29,900
Gain on debt distinguishment (96,600) (623,800)
Other Income (50,800)  
Loss/(Gain) on disposition of assets 4,900 (217,300)
Impairment Loss 319,700
Bad debt 179,200 (1,000)
Changes in operating assets and liabilities:    
Accounts receivable (283,100) (160,000)
Contract assets (135,100) 3,200
Inventory 192,300 (106,200)
Prepaid expenses and other assets 79,900 120,900
Accounts payable, accrued liabilities, and customer deposits 1,376,200 26,700
Contract liabilities 10,100 202,000
Deferred revenue (30,200)
Net cash used in operating activities (1,024,000) (1,547,500)
Cash flows from investing activities:    
Purchase of property and equipment (18,400) (3,000)
Proceeds from the sale of fixed assets 10,100 192,100
Net cash (used in) provided by investing activities (8,300) 189,100
Cash flows from financing activities:    
Payments of notes (85,000) (154,100)
Payments of short-term notes - related party (25,000) (71,100)
Proceeds from short-term notes and accrued interest - related party 10,000
Proceeds from short-term and long-term debt 975,000 1,585,000
Proceeds from paycheck protection program 130,100
Net cash provided by financing activities 865,000 1,499,900
Net increase (decrease) in cash (167,300) 141,500
Cash at the beginning of period 188,800 47,300
Cash at the end of period 21,500 188,800
Supplemental disclosures of cash flow information:    
Cash paid for interest 34,600 37,500
Cash paid for income taxes
Investment in PSMW 182,200
Financing of prepaid insurance premiums 56,000 52,400
Non-cash repayment of debt 188,900
Non-cash purcahse of equipment 13,300
Non-cash payment of interest $ 15,400 $ 22,500