v3.24.1.1.u2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net (loss) income $ (174,714) $ 112,563
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:    
Depreciation and amortization 264,010 227,718
Bad debt (recovery) expense (14,588) 20,102
Amortization of deferred financing costs 60,595 49,997
Amortization of debt discount 11,378
Amortization of right of use assets, financing 16,768 6,709
Share based compensation 443,832 118,162
Changes in operating assets and liabilities:    
Accounts receivable (66,379) (81,542)
Accounts receivable, unbilled 34,380 (291,332)
Parts and supplies 17,182 (8,234)
Prepaid expenses and other current assets (25,630) (1,931)
Accounts payable and accrued expenses 402,286 229,849
Operating lease assets and liabilities, net (1,375) 3,992
Deferred revenues (344,601) (571,788)
Total adjustments 786,480 (286,920)
Net cash provided by (used in) operating activities 611,766 (174,357)
Cash flows from investing activities:    
Capitalization of internal use software (109,621) (112,208)
Purchases of property and equipment (18,311) (22,361)
Net cash used in investing activities (127,932) (134,569)
Cash flows from financing activities:    
Payment of earnout liabilities (700,000)
Principal payments on financing lease liability (14,138) (5,467)
Repayment of notes payable (500,000) (262,950)
Net cash used in financing activities (514,138) (968,417)
Net decrease in cash (30,304) (1,277,343)
Cash - beginning of period 1,215,248 2,696,481
Cash - end of period 1,184,944 1,419,138
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 88,935 116,110
Cash paid during the period for income taxes 956 2,499
Supplemental disclosure of non-cash financing activities:    
Right-of-use asset obtained in exchange for finance lease liability $ 89,289

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