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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 380,693 $ 972,515
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Deferred income tax (benefit) expense (20,298) 228,185
Depreciation expense 504,798 580,089
(Recovery) provision for doubtful accounts (24,544) 571
Amortization of intangibles 239,333 251,311
Amortization of deferred financing costs 0 1,667
Share-based compensation expense 426,663 490,868
Changes in assets and liabilities:    
Accounts receivable and unbilled receivables 28,567,676 (20,204,950)
Inventories (110,791) (295,057)
Prepaid expenses and other current assets (22,415) (9,251)
Other assets 27,160 18,334
Accounts payable and accrued expenses (30,488,525) 19,998,926
Income tax payable 40,017 (16,784)
Deferred revenue and other liabilities (177,159) (385,520)
Other liabilities 246,037 0
Net cash (used in) provided by operating activities (411,355) 1,630,904
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (90,302) (165,377)
Capitalized hardware and software development costs (1,159,583) (519,312)
Net cash used in investing activities (1,249,885) (684,689)
CASH FLOWS FROM FINANCING ACTIVITIES    
Advances on bank line of credit 0 1,895,659
Repayments of bank line of credit advances 0 (1,895,659)
Principal repayments under finance lease obligations (285,755) (291,315)
Withholding taxes paid on behalf of employees on net settled restricted stock awards (140,865) 0
Common stock repurchased 0 (10,113)
Issuance of common stock/At-the-market offering, net of issuance costs 1,071,045 0
Proceeds from exercise of stock options 10,250 0
Net cash provided by (used in) financing activities 654,675 (301,428)
Net effect of exchange rate on cash and equivalents (42,812) (3,689)
NET (DECREASE) INCREASE IN CASH (1,049,377) 641,098
CASH AND CASH EQUIVALENTS, beginning of period 15,996,749 6,879,627
CASH AND CASH EQUIVALENTS, end of period 14,947,372 7,520,725
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest 140,242 153,609
Cash paid for income taxes 159,335 0
NONCASH INVESTING AND FINANCING ACTIVITIES    
Capitalized hardware and software development costs in accounts payable $ 76,245 $ 0