Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Unaudited)

v3.23.3
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Loss from continuing operations $ (1,831,600) $ (1,289,200)
Loss from discontinued operations 159,900 (253,100)
Net Loss (1,671,700) (1,542,300)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 16,800 76,600
Gain on sale of assets held for sale (175,600)
Gain on debt distinguishment (96,600)
Bad debt (10,900) 19,800
Changes in operating assets and liabilities:    
Accounts receivable 260,600 (351,100)
Contract assets 121,400 (72,800)
Inventory (7,000) 179,400
Prepaid expenses and other assets 93,200 29,800
Accounts payable, accrued liabilities, and customer deposits 350,300 893,900
Contract liabilities 120,800 (5,500)
Deferred revenue 14,600 9,700
Assets and Liabilities held for sale (31,500)
Net cash used in operating activities (919,000) (859,100)
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) provided by investing activities 338,500 (31,800)
Cash flows from financing activities:    
Payments of notes and capital lease obligations (241,100) (71,800)
Proceeds from short-term and long-term debt 850,000 919,300
Net cash provided by financing activities 608,900 847,500
Effect of exchange rate changes on cash  
Net increase (decrease) in cash 28,400 (43,400)
Cash at the beginning of period 21,500 188,800
Cash at the end of period 49,900 145,400
Supplemental disclosures of cash flow information:    
Cash paid for interest 23,500 34,600
Investment in PSMW 182,200
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