Cash Flow

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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss $ (578,900) $ (747,300)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 112,400 160,600
Stock-based compensation expense 600 35,500
Note receivable discount (9,900)  
Non-cash expense for interest 20,100 263,800
Non-cash debt discount 4,100  
Non-cash relief of aged accounts payable (171,300)  
Changes in operating assets and liabilities:    
Accounts receivable (234,200) (3,500)
Costs in Excess of billings on uncompleted contracts 253,000  
Prepaid expenses and other assets 77,600 17,500
Accounts payable and accrued liabilities (155,300) 58,900
Revenue contract liabilities 177,300 (13,400)
Deferred revenue (120,800) (4,000)
Payroll taxes payable 8,300 14,000
Net cash used in operating activities (617,000) (217,900)
Cash flows from investing activities:    
Purchase of property and equipment (15,000)  
Proceeds from outside minority investment in new subsidiary 226,000  
Net cash provided by investing activities 211,000  
Cash flows from financing activities:    
Payments of notes and capital lease obligations (119,400) (135,600)
Proceeds from short-term notes 500,000 350,000
Proceeds from the sale of common stock and warrants, net of expenses   120,000
Net cash provided by financing activities 380,600 334,400
Net increase (decrease) in cash (25,400) 116,500
Cash at the beginning of period 115,700 [1] 54,100
Cash at the end of period 90,300 170,600
Supplemental disclosures of cash flow information:    
Cash paid for interest 105,200 61,500
Cash paid for income taxes  
Financing of prepaid insurance premiums $ 330,200 $ 370,500
[1] These numbers were derived from the audited financial statements for the year ended December 31, 2018. See accompanying notes.

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