v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Consolidated net loss $ 99,568 $ 1,778,503
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, net 107,061 124,066
Gain on extinguishment of debt 0 (1,887,859)
Stock-based compensation 95,707 39,085
Gain on disposition of assets (33,945) 0
Debt Securities, Available-for-sale, Realized Gain 0 (6,046)
Unrealized gain on investment securities (37,497) (37,497)
Gain on termination of unfavorable contract liability (71,375) 0
Impairment of intangible asset 0 7,400
Changes in operating assets and liabilities    
Accounts receivable 850,674 638,643
Unbilled revenue 351,259 122,814
Inventory 8,252 326,655
Prepaid expenses and other current assets 2,014 17,307
Other assets 152,888 (583,419)
Increase (decrease) in:    
Accounts payable 894,418 (799,615)
Accrued expenses and other current liabilities 134,795 153,225
Deferred revenue (504,229) (97,937)
Other liabilities (155,119) 574,447
Net cash provided by operating activities 1,894,471 369,772
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (80,873) (16,098)
Proceeds from the sale of investment securities 0 11,637
Purchases of intangible assets (16,220) (5,682)
Proceeds from the sale of investment securities 64,669 0
Distributions to non-controlling interest (15,640) (18,176)
Net cash used in investing activities (48,064) (28,319)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from note payable 0 1,874,269
Net cash provided by financing activities 0 1,874,269
Change in cash and cash equivalents 1,846,407 2,215,722
Cash and cash equivalents, beginning of the period 3,614,463 1,490,219
Cash and cash equivalents, end of the period 5,460,870 3,705,941
Non-cash investing and financing activities:    
Cash paid for interest 413 0
Cash paid for taxes $ 3,930 $ 8,058

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