Cash Flow

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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (246,300) $ (1,695,500)
Income from discontinued operations 3,366,600 397,600
Net loss from continuing operations (3,612,900) (2,093,100)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Provision for doubtful accounts receivable   3,900
Depreciation and amortization [1],[2] 595,300 570,900
Stock-based compensation expense 94,000 84,000
Non-cash expense for interest, common stock issued for debt penalty 1,009,000  
Non-cash expense for interest, warrants - accretion of debt discount 6,200 101,700
Non-cash expense for extension of warrants 83,600  
Warrants isued for services 31,300  
Stock issued in satisfaction of settlement 174,000  
Gain on settlement (102,300)  
Gain on disposition of assets   (25,600)
Changes in operating assets and liabilities:    
Accounts receivable 254,300 148,200
Costs in Excess of billings on uncompleted contracts 13,600 204,000
Prepaid expenses and other assets 160,500 (95,900)
Accounts payable and accrued liabilities (278,700) (361,400)
Billings in excess of revenue on uncompleted contracts (490,700) 112,500
Deferred revenue (127,900) 47,800
Payroll taxes payable (1,300) 17,100
Net cash provided by operating activities (2,192,000) (1,285,900)
Cash flows from investing activities:    
Insurance proceeds from property damage   59,000
Purchase of property and equipment (240,800) (177,300)
Purchases of intangibles (15,500) (37,500)
Proceeds from sale of discontinued operations, net of costs 2,285,500  
Distributions for notes receivable (300,000)  
Net cash used in investing activities 1,729,200 (155,800)
Cash flows from financing activities:    
Payments of notes and capital lease obligations (980,900) (559,600)
Payments of related party notes payable and accrued interest   (20,000)
Proceeds from convertible debt   250,000
Proceeds from short-term notes 750,000 400,000
Proceeds from exercise of warrants   25,000
Proceeds from warrant extensions 148,600 29,900
Proceeds from the sale of common stock and warrants, net of expenses   400,000
Net cash provided by (used in) financing activities (82,300) 525,300
Net cash flows from discontinued operations 461,400 801,600
Net decrease in cash (83,700) (114,800)
Cash at the beginning of period 233,200 [3] 257,100
Cash at the end of period 149,500 142,300
Supplemental disclosures of cash flow information:    
Cash paid for interest 197,600 207,600
Discount on convertible debt   4,900
Financing of prepaid insurance premiums $ 438,300 278,600
Issuance of common stock for other assets   $ 720,000
[1] Excludes discontinued operations
[2] Includes depreciation of property, equipment and leasehold improvement and amortization of intangibles
[3] These numbers were derived from the audited financial statements for the year ended December 31, 2016. See accompanying notes.

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