Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Unaudited)

v3.23.2
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Loss from continuing operations $ (1,377,700) $ (876,700)
Loss from discontinued operations 160,300 (55,300)
Net Loss (1,217,400) (932,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 11,200 59,000
Gain on sale of assets held for sale (175,600)
Gain on debt distinguishment (96,600)
Bad debt 19,800
Changes in operating assets and liabilities:    
Accounts receivable 104,200 (27,600)
Contract assets 64,700 (164,000)
Inventory (7,300) 51,500
Prepaid expenses and other assets 66,800 26,600
Accounts payable, accrued liabilities, and customer deposits 204,200 838,300
Contract liabilities (23,000) (176,600)
Deferred revenue 13,900 6,400
Assets and liabilities held for sale (26,700)
Net cash used in operating activities (985,000) (395,200)
Cash flows from investing activities:    
Purchase of property and equipment (31,800)
Proceeds from the sale of assets held for sale 338,500
Net cash (used in) provided by investing activities 338,500 (31,800)
Cash flows from financing activities:    
Payments of notes (171,300) (47,500)
Proceeds from short-term and long-term debt 850,000 319,300
Net cash provided by financing activities 678,700 271,800
Effect of exchange rate changes on cash  
Net increase (decrease) in cash 32,200 (155,200)
Cash at the beginning of period 21,500 188,800
Cash at the end of period 53,700 33,600
Supplemental disclosures of cash flow information:    
Cash paid for interest 22,200 7,600
Financing of prepaid insurance premiums 51,100 36,800
Non-cash repayment of debt 50,800
Non-cash repayment of debt - PPP Loan 96,600
Non-cash payment of interest $ 15,400