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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (724,063) $ (653,110)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Deferred income tax (benefit) expense (36,400) 45,200
Depreciation expense 229,330 260,302
Provision for credit losses 6,776 7,566
Amortization of intangibles 480,552 573,137
Share-based compensation expense 198,859 417,783
Non-cash lease expense 46,444 0
Changes in assets and liabilities:    
Accounts receivable and unbilled receivables (1,990,901) (5,317,052)
Inventories (240,208) (291,356)
Other current assets (1,190,283) (251,778)
Other assets 53,717 (6,412)
Accounts payable and accrued expenses (1,072,599) 3,909,794
Income tax payable 9,543 (72,015)
Deferred revenue and other liabilities 1,044,877 (178,728)
Other liabilities (43,235) 0
Net cash used in operating activities (3,227,591) (1,556,669)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (27,632) (6,494)
Proceeds from beneficial interest in sold receivables 0 259,125
Net cash (used in) provided by investing activities (27,632) 252,631
CASH FLOWS FROM FINANCING ACTIVITIES    
Advances on bank line of credit 2,800,000 1,000,000
Repayments of bank line of credit advances (2,800,000) (1,000,000)
Principal repayments under finance lease obligations (119,766) (137,469)
Withholding taxes paid on behalf of employees on net settled restricted stock awards (115,211) (218,783)
Net cash used in financing activities (234,977) (356,252)
Net effect of exchange rate on cash (27,553) 7,064
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (3,517,753) (1,653,226)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period 7,817,395 6,921,160
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period 4,299,642 5,267,934
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH CONSISTED OF THE FOLLOWING:    
Cash and cash equivalents 3,703,169 5,267,934
Restricted cash 596,473 0
Restricted Cash and Cash Equivalents 4,299,642 5,267,934
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest 41,259 51,940
NONCASH INVESTING AND FINANCING ACTIVITIES    
ROU asset obtained in exchange for lease liability $ 542,232 $ 0