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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (1,934,279) $ (4,046,473)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Deferred income tax (benefit) expense (13,473) 107,157
Depreciation expense 1,016,925 1,088,546
Impairment charge - definite-lived intangible assets 0 193,336
Provision for credit losses 21,818 47,060
Amortization of intangibles 2,251,895 2,282,322
Share-based compensation expense 1,211,247 960,991
Lease expense 26,780 0
Change in fair value of contingent consideration (6,900) 0
(Gain) loss on disposal of fixed assets (8,663) 1,927
Changes in assets and liabilities:    
Accounts receivable and unbilled receivables (19,166,759) (4,686,874)
Inventories 53,151 (143,668)
Other current assets (2,745,818) (3,171)
Other assets (175,798) 33,574
Accounts payable and accrued expenses 18,544,582 3,837,059
Income tax payable (43,946) (2,234)
Deferred revenue and other liabilities 2,667,196 955,696
Other liabilities (16,186) 0
Net cash provided by operating activities 1,681,772 625,248
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (117,938) (208,202)
Capitalized hardware and software development costs 0 (881,887)
Proceeds from beneficial interest in sold receivables 259,125 469,104
Net cash provided by (used in) investing activities 141,187 (620,985)
CASH FLOWS FROM FINANCING ACTIVITIES    
Advances on bank line of credit 5,600,000 6,493,284
Repayments of bank line of credit advances (5,600,000) (6,493,284)
Principal repayments under finance lease obligations (636,455) (586,525)
Withholding taxes paid on behalf of employees on net settled restricted stock awards (258,382) (3,627)
Net cash used in financing activities (894,837) (590,152)
Net effect of exchange rate on cash (31,887) (23,815)
NET INCREASE (DECREASE) IN CASH AND RESTRICTED CASH 896,235 (609,704)
CASH AND RESTRICTED CASH, beginning of period 6,921,160 7,530,864
CASH AND RESTRICTED CASH, end of period 7,817,395 6,921,160
CASH AND RESTRICTED CASH CONSISTED OF THE FOLLOWING:    
Cash 6,775,139 6,921,160
Restricted Cash 1,042,256 0
Restricted Cash and Cash Equivalents 7,817,395 6,921,160
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest 207,047 223,307
NONCASH INVESTING AND FINANCING ACTIVITIES    
ROU asset obtained in exchange for lease liability $ 828,608 $ 0