XML 39 R5.htm IDEA: XBRL DOCUMENT v3.3.0.814
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 25, 2015
Sep. 26, 2014
Cash flows from operating activities:    
Net income $ 1,431,946 $ 8,007,261
Adjustments to reconcile net income to net cash used by operations:    
Depreciation and amortization 128,904 498,614
Change in allowance for doubtful accounts 23,720 (203,849)
Change in fair value of derivative liabilities 0 (87)
Stock based compensation 493,351 121,863
Impairment of goodwill 0 806,787
Reserve on note receivable 175,000 0
Deferred tax asset 817,590 (4,317,000)
Change in assets and liabilities:    
Accounts receivable - trade (1,132,817) (946,018)
Restricted cash 0 (23,525)
Prepaid workers' compensation (515,185) (785,067)
Other receivables (51,916) 26,383
Prepaid expenses, deposits and other (271,844) (19,251)
Loss on disposition of property and equipment (2,271) 11,698
Workers' compensation risk pool deposits 212,392 (13,173)
Accounts payable (131,270) 29,225
Checks issued and payable 148,278 205,549
Other current liabilities (17,811) (42,319)
Accrued wages and benefits (22,931) 182,949
Workers' compensation premiums and claims liability 35,723 (102,947)
Net cash provided by operating activities 1,320,858 3,437,092
Cash flows from investing activities:    
Purchases of property and equipment (39,648) (232,164)
Purchase of note receivable (175,000) 0
Proceeds from sale of property and equipment 2,500 0
Net cash used in investing activities (212,148) (232,164)
Cash flows from financing activities:    
Net proceeds from account purchase agreement facility (2,530,709) (3,379,864)
Purchase of treasury stock (1,411,168) 0
Proceeds from conversion of stock options 12,240 336,000
Proceeds from the exercise of common stock warrants 0 54,835
Net cash used in financing activities (3,929,638) (2,989,029)
Net increase (decrease) in cash (2,820,928) 215,899
Cash, beginning of period 8,600,249 5,820,309
Cash, end of period 5,779,322 6,036,208
Non-cash investing and financing activities    
Common stock issued for services 73,000 0
Cashless exercise of stock options 42,500 0
Supplemental disclosure of cash flow information    
Interest paid 54,693 107,488
Income taxes paid $ 103,878 $ 164,951