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 ($)
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Consolidated net loss $ (1,277,682) $ (176,611)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, accretion and amortization, net 586,188 402,939
Gain on contract termination (124,732) 0
Provision on inventory reserve 1,000 43,609
Stock-based compensation 133,808 138,329
Non-cash interest expense 0 577
Loss on sale of assets 13,343 2,909
Provision for losses on accounts receivable 4,395 8,000
Changes in operating assets and liabilities, net of effects of acquisitions    
Accounts receivable (1,840,150) (1,908,655)
Unbilled revenue (245,892) (776,365)
Inventory, net (853,262) (1,279,847)
Due from related party 585,492 (236,971)
Prepaid expenses and other current assets (43,743) (18,673)
Other non-current assets 54,741 (32,251)
Increase (decrease) in:    
Accounts payable (262,925) 1,641,206
Accrued expenses and other current liabilities 779,945 (233,824)
Deferred revenue 185,059 407,379
Interest payable, related party (52,265) 21,378
Net cash used in operating activities (2,356,680) (1,996,871)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (273,814) (315,205)
Proceeds from sale of assets 3,606 0
Purchases of intangible assets (203,648) (34,551)
Cash acquired in asset acquisition 442,746 971,454
Expenses associated with asset acquisition (900) 0
Payment of stock issuance costs (908) (367,101)
Distributions to noncontrolling interest (68,950) (31,362)
Net cash provided by (used in) investing activities (101,868) 223,235
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving line of credit 12,550,590 0
Payments on revolving line of credit (10,696,691) 0
Payments for debt issuance costs (145,011) 0
Proceeds from the exercise of stock options 63,305 128,918
Payment on loan due to related party (850,000) 0
Net cash provided by financing activities 922,193 128,918
Change in cash and cash equivalents (1,536,355) (1,644,718)
Cash and cash equivalents, beginning of the period 1,673,072 3,721,765
Cash and cash equivalents, end of the period 136,717 2,077,047
Non-cash investing and financing activities:    
Cash paid for interest 112,460 95,550
Cash paid for taxes 44,864 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