v3.25.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net (loss) income $ (546,215) $ 519,266
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 1,128,613 974,527
Bad debt (recovery) expense (9,117) 77,211
Loss on disposal of fixed assets 547
Amortization of deferred financing costs 152,604 177,164
Amortization of debt discount 22,045
Amortization of right of use assets, financing 71,326 42,115
Stock issued for services 198,124
Share-based compensation 1,496,774 464,529
Changes in operating assets and liabilities:    
Accounts receivable 747,988 (806,503)
Accounts receivable, unbilled 24,313 (724,427)
Parts and supplies 9,711 (37,051)
Prepaid expenses and other current assets 30,912 (101,799)
Accounts payable and accrued expenses 280,303 (200,444)
Operating lease assets and liabilities, net (13,643) 6,158
Deferred revenues 484,044 173,744
Total adjustments 4,404,375 265,393
Net cash provided by operating activities 3,858,160 784,659
Cash flows from investing activities:    
Capitalization of internal use software (388,570) (436,837)
Purchases of property and equipment (439,203) (111,240)
Net cash used in investing activities (827,773) (548,077)
Cash flows from financing activities:    
Payment of earnout liabilities (700,000)
Other net changes in finance lease assets and liabilities (2,411)
Principal payments on financing lease liability (61,874) (34,954)
Payments to taxing authorities in connection with shares directly withheld from employees (69,525)
Repayment of notes payable (1,307,169) (980,450)
Repayment of notes payable - related parties (317,831)
Net cash used in financing activities (1,756,399) (1,717,815)
Net increase (decrease) in cash 1,273,988 (1,481,233)
Cash - beginning of period 1,215,248 2,696,481
Cash - end of period 2,489,236 1,215,248
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 258,646 418,790
Cash paid during the period for income taxes 20,259 21,667
Supplemental disclosure of non-cash financing activities:    
Right-of-use asset obtained in exchange for finance lease liability $ 89,289 $ 107,610

Source

HTML PDF
ZIP