Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Consolidated net loss $ (702,025) $ (231,757)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, accretion and amortization, net 386,250 242,876
Gain on contract termination (124,732) 0
Provision on inventory reserve 1,000 25,609
Stock-based compensation 78,478 97,684
Non-cash interest expense 0 389
Loss on sale of assets 13,343 2,909
Provision for losses on accounts receivable 4,395 1,335
Changes in operating assets and liabilities, net of effects of acquisitions    
Accounts receivable (1,732,029) 355,740
Unbilled revenue (345,324) (952,864)
Inventory, net (403,785) (1,242,782)
Due from related party 585,492 (118,612)
Prepaid expenses and other current assets (83,840) (99,601)
Other non-current assets 74,424 65,687
Increase (decrease) in:    
Accounts payable (1,017,610) 786,419
Accrued expenses and other current liabilities 529,325 (10,362)
Deferred revenue 247,669 176,852
Interest payable, related party (52,265) 8,523
Net cash used in operating activities (2,541,234) (891,955)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (149,453) (209,265)
Proceeds from sale of assets 3,606 0
Purchases of intangible assets (149,264) (22,539)
Cash acquired in asset acquisition 442,786 971,454
Expenses associated with asset acquisition (900) 0
Payment of stock issuance costs 0 (365,566)
Distributions to noncontrolling interest (34,300) 0
Net cash provided by investing activities 112,475 374,084
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving line of credit 5,053,453 0
Payments on revolving line of credit (2,350,625) 0
Payments for debt issuance costs (145,011) 0
Proceeds from the exercise of stock options 63,305 114,034
Payment on loan due to related party (850,000) 0
Net cash provided by financing activities 1,771,122 114,034
Change in cash and cash equivalents (657,637) (403,837)
Cash and cash equivalents, beginning of the period 1,673,072 3,721,765
Cash and cash equivalents, end of the period 1,015,435 3,317,928
Non-cash investing and financing activities:    
Cash paid for interest 79,079 0
Cash paid for taxes 38,864 0
Issuance of stock to acquire American DG Energy 0 18,745,007
Issuance of Tecogen stock options in exchange for American DG Energy options $ 0 $ 114,896