XML 91 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended 12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Dec. 31, 2017
OPERATING ACTIVITIES        
Net loss $ (3,070,968) $ (1,644,341) $ (1,541,873) $ (668,176)
Adjustments to reconcile net loss to net cash used in by operating activities:        
Gain (loss) on sale of property and equipment (24,224) 4,008 (28,408) (275,499)
Depreciation and amortization 1,037,243 1,054,233 1,441,898 1,125,667
Amortization of financing costs 206,313 88,481 29,239 29,282
Write-off of contingent consideration     (395,634)
Write-down of assets     129,400
Loss on extinguishment of debt     536,534
Financing costs     42,506
Loan contingency write-down (395,634)    
Amortization of warrant feature of note payable 142,338    
Amortization of OID interest 32,813    
Amortization of operating lease right of use assets 19,107    
Changes in operating assets and liabilities:        
Increase accounts receivable     (239,205) (153,667)
Decrease in inventory     240,353 201,339
Decrease (increase) in prepaid expenses and other assets     (28,184) (27,288)
Increase in accounts payable and accrued expenses     433,739 452,026
Increase in uncertain tax position     (3,000)
Decrease in deferred tax liability and prepaid tax     (742,000) (1,173,994)
Increase in other liabilities     5,789
Accounts receivable (617,794) 65,448    
Inventory 433,101 (21,310)    
Prepaid expenses and other assets (148,465) 72,322    
Accounts payable and accrued expenses (354,830) 454,299    
Other current liabilities 1,234,143    
Operating lease liability (19,107)    
Customer deposits 800,064    
Warrant liability (57,100)    
Uncertain tax position and deferred taxes (572,398) (746,100)    
Due to related parties 5,232 (7,288) (5,370) 70,826
Net cash used in operating activities (954,532) (1,075,882) (127,005) (416,695)
INVESTING ACTIVITIES        
Cash acquired in acquisition     338,411
Proceeds from the sale of fixed assets     320,775 369,272
Acquisition of Goedeker, net of cash acquired 1,135,368    
Proceeds from the sale of property and equipment 39,750 202,025    
Purchase of equipment (17,076) (2,000) (10,807) (1,145,889)
Net cash provided by investing activities 1,158,042 200,025 309,968 (438,206)
FINANCING ACTIVITIES        
Proceeds of short-term borrowings 822,461 463,137 675,000
Proceeds from notes payable 27,000 3,781,908 16,297 397,464
Repayment of notes payable (399,287) (93,767) (75,534)
Note payable - related party (246,207) 117,000 117,000
Repayment of lines of credit (180,865) (675,000) (275,000) (325,197)
Repayment of financing leases (363,444) (2,218,500)    
Principal payments on capital lease obligation     (596,405) (150,594)
Loans from (repayments to) related party     759,650
Financing costs and early extinguishment of debt (528,223)    
Net cash provided by (used in) financing activities (340,342) 383,418 (350,505) 1,356,323
NET CHANGE IN CASH (136,832) (492,439) (167,542) 501,422
CASH        
Beginning of period 333,880 501,422 501,422
End of period $ 197,048 $ 8,983 333,880 501,422
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION        
Interest paid     811,854 366,491
Income taxes paid     78,600
NON-CASH FINANCING AND INVESTING ACTIVITIES        
Acquisition of subsidiary     5,513,498
Grant of non-controlling interest     852,864
Inventory converted to fixed assets     108,528
Refinancing of capital lease     2,780,052
Refinancing of Kenworth loan     65,259
Refinancing of line of credit     $ 753,037