v3.24.2.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net (loss) income $ (99,664) $ 248,297
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:    
Depreciation and amortization 538,648 467,521
Bad debt (recovery) expense (143) 27,528
Loss on disposal of fixed assets 547
Amortization of deferred financing costs 94,531 95,152
Amortization of debt discount 17,778
Amortization of right of use assets, financing 34,954 14,959
Share based compensation 695,305 233,617
Changes in operating assets and liabilities:    
Accounts receivable 401,330 (233,431)
Accounts receivable, unbilled (162,476) (441,603)
Parts and supplies 16,346 652
Prepaid expenses and other current assets 31,049 (27,999)
Accounts payable and accrued expenses 345,041 (22,062)
Operating lease assets and liabilities, net (3,990) 6,280
Deferred revenues (172,623) (686,320)
Total adjustments 1,818,519 (547,928)
Net cash provided by (used in) operating activities 1,718,855 (299,631)
Cash flows from investing activities:    
Capitalization of internal use software (198,051) (208,417)
Purchases of property and equipment (200,715) (82,684)
Net cash used in investing activities (398,766) (291,101)
Cash flows from financing activities:    
Payment of earnout liabilities (700,000)
Principal payments on financing lease liability (29,668) (12,312)
Repayment of notes payable (825,000) (262,950)
Net cash used in financing activities (854,668) (975,262)
Net increase (decrease) in cash 465,421 (1,565,994)
Cash - beginning of period 1,215,248 2,696,481
Cash - end of period 1,680,669 1,130,487
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 160,813 226,570
Cash paid during the period for income taxes 12,999 7,708
Supplemental disclosure of non-cash financing activities:    
Right-of-use asset obtained in exchange for finance lease liability $ 89,289

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