Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENT OF CASH FLOWS

v2.4.1.9
CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
 12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:    
Net loss $ (726,000)us-gaap_ProfitLoss $ (858,600)us-gaap_ProfitLoss
Adjustments to reconcile net loss to net cash provided by operating activities:    
Provision for doubtful accounts receivable 187,600us-gaap_ProvisionForDoubtfulAccounts 33,800us-gaap_ProvisionForDoubtfulAccounts
Depreciation and amortization 494,600us-gaap_DepreciationDepletionAndAmortization [1] 373,200us-gaap_DepreciationDepletionAndAmortization [1]
Stock-based compensation expense 994,400us-gaap_ShareBasedCompensation 208,800us-gaap_ShareBasedCompensation
Gain on extinguishment of debt (24,400)seer_GainsLossesOnExtinguishmentOfDebt1 (11,400)seer_GainsLossesOnExtinguishmentOfDebt1
Amortization of debt discount    4,900us-gaap_AmortizationOfDebtDiscountPremium
Changes in operating assets and liabilities:    
Cash - restricted 36,200us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities (30,000)us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities
Accounts receivable (2,035,400)us-gaap_IncreaseDecreaseInAccountsReceivable (30,000)us-gaap_IncreaseDecreaseInAccountsReceivable
Costs in Excess of billings on uncompleted contracts 17,400seer_CostsInExcessOfBillingsOnUncompletedContracts (43,000)seer_CostsInExcessOfBillingsOnUncompletedContracts
Prepaid expenses and other assets 57,200us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (248,200)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Accounts payable 169,100us-gaap_IncreaseDecreaseInAccountsPayable 191,700us-gaap_IncreaseDecreaseInAccountsPayable
Accrued liabilities 25,900us-gaap_IncreaseDecreaseInAccruedLiabilities 450,300us-gaap_IncreaseDecreaseInAccruedLiabilities
Billings in excess of revenue on uncompleted contracts 138,200us-gaap_IncreaseDecreaseInBillingInExcessOfCostOfEarnings (157,100)us-gaap_IncreaseDecreaseInBillingInExcessOfCostOfEarnings
Deferred revenue 456,600us-gaap_IncreaseDecreaseInDeferredRevenue   
Customer deposits 262,000us-gaap_IncreaseDecreaseInCustomerDeposits 118,000us-gaap_IncreaseDecreaseInCustomerDeposits
Payroll taxes payable (23,700)us-gaap_IncreaseDecreaseInAccruedTaxesPayable (122,500)us-gaap_IncreaseDecreaseInAccruedTaxesPayable
Net cash provided by (used in) operating activities 29,700us-gaap_NetCashProvidedByUsedInOperatingActivities (120,100)us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:    
Purchase of property and equipment (3,405,800)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (1,155,700)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Purchase of intangible assets (79,900)us-gaap_PaymentsToAcquireIntangibleAssets   
Proceeds from the sale of property and equipment    (13,900)us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Net cash used in investing activities (3,485,700)us-gaap_NetCashProvidedByUsedInInvestingActivities (1,169,600)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:    
Proceeds from stock subscription receivable 25,000us-gaap_ProceedsFromRepaymentOfLoansToPurchaseCommonStock 50,000us-gaap_ProceedsFromRepaymentOfLoansToPurchaseCommonStock
Payments of notes payments and capital lease obligations (215,600)us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations (205,300)us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations
Payments of related party notes payable and accrued interest (63,100)us-gaap_RepaymentsOfRelatedPartyDebt (4,300)us-gaap_RepaymentsOfRelatedPartyDebt
Proceeds from the sale of common stock and warrants, net of expenses 1,519,800us-gaap_ProceedsFromIssuanceOfWarrants 3,798,000us-gaap_ProceedsFromIssuanceOfWarrants
Net cash provided by financing activities 1,266,100us-gaap_NetCashProvidedByUsedInFinancingActivities 3,638,400us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase (decrease) in cash (2,189,900)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 2,348,700us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash at the beginning of year 2,419,100us-gaap_Cash 70,400us-gaap_Cash
Cash at the end of year 229,200us-gaap_Cash 2,419,100us-gaap_Cash
Supplemental disclosures of cash flow information:    
Cash paid for interest 75,800us-gaap_InterestPaid 12,200us-gaap_InterestPaid
Conversion of convertible note payable and accrued interest into shares of common stock    61,400seer_ConversionOfConvertibleNotePayable
Purchase of assets under capital leases 86,700us-gaap_CapitalLeaseObligationsIncurred 110,000us-gaap_CapitalLeaseObligationsIncurred
Transfer of prepaid asset to equipment    33,000seer_TransferOfPrepaidAssetToEquipment
Fully depreciated assets written off    $ 96,400seer_FullyDepreciatedAssetsWrittenOff
[1] Includes depreciation of property, equipment and leasehold improvement and amortization of intangibles