v3.24.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net income $ 519,266 $ 24,027
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 974,527 722,197
Bad debt expense 77,211 42,129
Loss on disposal of fixed assets 24,473
Amortization of deferred financing costs 177,164 216,381
Amortization of debt discount 22,045 102,400
Amortization of right of use assets, financing 42,115 6,708
Stock issued for services 198,124 57,500
Stock option compensation 464,529 363,950
Change in fair value of earnout liabilities 87,652
Changes in operating assets and liabilities:    
Accounts receivable (806,503) 81,227
Accounts receivable, unbilled (724,427) (151,628)
Parts and supplies (37,051) 3,470
Prepaid expenses and other current assets (101,799) (176,596)
Accounts payable and accrued expenses (200,444) 173,480
Operating lease assets and liabilities, net 6,158 25,351
Deferred compensation (100,828)
Deferred revenues 173,744 486,885
Total adjustments 265,393 1,964,751
Net cash provided by operating activities 784,659 1,988,778
Cash flows from investing activities:    
Cash paid to acquire business, net (6,383,269)
Capitalization of internal use software (436,837) (376,345)
Purchases of property and equipment (111,240) (200,980)
Net cash used in investing activities (548,077) (6,960,594)
Cash flows from financing activities:    
Payment of earnout liabilities (700,000) (1,018,333)
Proceeds from issuance of common stock 5,740,758
Offering costs paid on issuance of common stock and notes (746,342)
Proceeds from notes payable 2,364,500
Proceeds from notes payable - related parties 600,000
Other net changes in finance lease assets and liabilities (2,411)
Principal payments on financing lease liability (34,954) (5,366)
Repayment of notes payable (980,450) (1,019,550)
Net cash (used in) provided by financing activities (1,717,815) 5,915,667
Net (decrease) increase in cash (1,481,233) 943,851
Cash - beginning of period 2,696,481 1,752,630
Cash - end of period 1,215,248 2,696,481
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 418,790 496,805
Cash paid during the period for income taxes 21,667 12,888
Supplemental disclosure of non-cash financing activities:    
Discount on notes payable for warrants 169,900
Discount on notes payable - related parties for warrants 43,113
Right-of-use asset obtained in exchange for finance lease liability 107,610 160,990
Supplemental disclosure of non-cash investing activities relating to business acquisitions:    
Accounts receivable 68,380
Prepaid expenses 38,913
Property and equipment 30,018
Intangible assets 3,888,000
Goodwill 3,466,934
Accounts payable (36,446)
Deferred revenues (1,072,530)
Net assets acquired in acquisition 6,383,269
Cash used in business acquisition $ 6,383,269

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