Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ 97,696 $ (1,161,245)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 587,822 264,005
Loss on sale of assets 2,909 640
Provision for losses on accounts receivable (16,600) (19,245)
Provision (recovery) for inventory reserve 17,000 (27,000)
Stock-based compensation 183,768 165,931
Non-cash interest expense 1,491 49,532
(Increase) decrease in:    
Short-term investments, restricted 0 294,802
Accounts receivable (336,051) (3,324,310)
Unbilled revenue (1,676,409) (1,197,254)
Inventory (298,167) 935,779
Due from related party (325,651) 916,273
Prepaid assets and other current assets (47,498) (48,771)
Other assets (32,252) 0
Increase (decrease) in:    
Accounts payable 1,335,042 55,672
Accrued expenses (494,095) 311,398
Deferred revenue 375,499 65,937
Interest payable, related party 34,240 0
Net cash used in operating activities (591,256) (2,717,856)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (580,044) (139,725)
Purchases of intangible assets (453,598) (119,665)
Cash Acquired from Acquisition 971,454 0
Cash paid for investment in Ultra Emissions Technologies Ltd 0 (2,000,000)
Return of investment in Ultra Emissions Technologies Ltd 2,000,000 0
Payment of stock issuance costs (377,246) 0
Distributions to noncontrolling interest (47,921) 0
Net cash provided by (used in) investing activities 1,512,645 (2,259,390)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments from debt issuance costs 0 (2,034)
Proceeds on notes payable 0 150,000
Payments for share issuance 0 (31,053)
Payments made on loan due to related party (3,150,000) 0
Proceeds from exercise of stock options 179,918 395,572
Proceeds from exercise of warrants 0 2,700,000
Net cash provided by financing activities (2,970,082) 3,212,485
Net increase (decrease) in cash and cash equivalents (2,048,693) (1,764,761)
Cash and cash equivalents, beginning of the year 3,721,765 5,486,526
Cash and cash equivalents, end of the year 1,673,072 3,721,765
Supplemental disclosures of cash flows information:    
Cash paid for interest 110,979 126,250
Exchange of common stock for non-controlling interest in Ilios 0 330,852
Issuance of stock to acquire American DG Energy, net 18,482,656 0
Issuance of Tecogen stock options in exchange for American DG Energy options $ 114,896 $ 0