Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Consolidated net income $ (176,611) $ (1,165,801)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization, net 402,939 198,766
Provision (recovery) of inventory reserve 43,609 (90,000)
Stock-based compensation 138,329 117,065
Non-cash interest expense 577 37,923
Loss on sale of assets 2,909 640
Provision (recovery) for losses on accounts receivable 8,000 (6,000)
Changes in operating assets and liabilities, net of effects of acquisitions    
Short term investments 0 294,802
Accounts receivable (1,908,655) (2,664,462)
Unbilled revenue (776,365) (1,024,276)
Inventory, net (1,279,847) 714,896
Due from related party (236,971) 744,266
Prepaid expenses and other current assets (18,673) (100,398)
Other non-current assets (32,251) 0
Increase (decrease) in:    
Accounts payable 1,641,206 (279,196)
Accrued expenses and other current liabilities (233,824) 122,809
Deferred revenue 407,379 184,103
Interest payable, related party 21,378 0
Net cash used in operating activities (1,996,871) (2,914,863)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (315,205) (130,499)
Purchases of intangible assets (34,551) (71,223)
Cash acquired in acquisition 971,454 0
Payments to Acquire Long-term Investments 0 (2,000,000)
Payment of stock issuance costs (367,101) 0
Payments to Noncontrolling Interests (31,362) 0
Net cash provided by (used in) investing activities 223,235 (2,201,722)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from demand notes payable, related party 0 150,000
Payment of stock issuance costs 0 (28,548)
Proceeds from debt issuance costs 0 (2,034)
Proceeds from the exercise of stock options 128,918 312,698
Proceeds from exercise of warrants 0 2,700,000
Net cash provided by financing activities 128,918 3,132,116
Net decrease in cash and cash equivalents (1,644,718) (1,984,469)
Cash and cash equivalents, beginning of the period 3,721,765 5,486,526
Cash and cash equivalents, end of the period 2,077,047 3,502,057
Non-cash investing and financing activities:    
Cash paid for interest 95,550 94,049
Exchange of stock for non-controlling interest in Ilios 0 330,852
Issuance of stock to acquire American DG Energy 18,745,007 0
Issuance of Tecogen stock options in exchange for American DG Energy options $ 114,896 $ 0