XML 22 R6.htm IDEA: XBRL DOCUMENT v3.24.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating Activities    
Net (loss) $ (475,104) $ (5,483,244)
Adjustments to reconcile net (loss) to net cash provided (used) by operating activities:    
Depreciation 1,209,506 1,196,584
Amortization 872,027 1,538,534
Employee stock-based compensation 2,222,969 2,072,041
Amortization of warrant costs 0 20,963
Non-cash revenue from return of treasury stock (156,162) 0
Changes in operating assets and liabilities:    
Accounts receivable (1,192,498) 607,853
Prepaid expenses and other 6,318 (23,426)
Operating lease right-of-use assets 374,701 6,630
Other assets 0 (10,000)
Inventory 84,547 (72,823)
Accounts payable and accrued expenses 252,689 853,965
Operating lease liabilities (403,506) (24,052)
Prepaid card load obligations 11,408,212 (16,420,132)
Merchant reserves 400,594 (1,471,652)
Customer deposits 311,609 189,929
Deferred revenue 0 (17,647)
Net cash provided (used) by operating activities 14,915,902 (17,036,477)
Investing Activities    
Purchases of property and equipment (834,964) (812,242)
Net cash (used) by investing activities (834,964) (812,242)
Financing Activities    
Payments on equipment loan (56,992) (54,771)
Purchases of treasury stock (456,961) (1,344,569)
Net cash (used) by financing activities (513,953) (1,399,340)
Change in cash, cash equivalents, prepaid card loads, customer deposits and merchant reserves 13,566,985 (19,248,059)
Cash, cash equivalents, prepaid card loads, customer deposits and merchant reserves, beginning of year 32,343,501 51,591,560
Cash, Cash Equivalents, Prepaid Card Load Assets, Customer Deposits and Merchant Reserves, End of Year 45,910,486 32,343,501
Supplemental disclosures of cash flow information    
Interest 5,202 4,051
Income taxes 116,204 269,500
Non-cash investing and financing activities:    
Issuance of deferred stock compensation 2,650,505 166,229
Non-cash transaction for acquisition of equipment in exchange for note payable 811,819 0
Employee Awards [Member]    
Adjustments to reconcile net (loss) to net cash provided (used) by operating activities:    
Employee stock-based compensation 2,190,369 2,072,041
Vendor [Member]    
Adjustments to reconcile net (loss) to net cash provided (used) by operating activities:    
Employee stock-based compensation $ 32,600 $ 0