XML 16 R6.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (2,560,563) $ (5,251,201)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 390,250 404,069
Amortization of right-of-use assets 134,054 87,426
Stock-based compensation expense 656,576 479,641
Change in fair value of contingent consideration 0 160,232
Interest income on investments 0 (12,792)
Changes in operating assets and liabilities (net of acquired amounts):    
Accounts receivable and contract receivables 3,680,141 (6,502,104)
Prepaid expenses and other assets and property and equipment (497,749) (411,181)
Accounts payable, contract liabilities, customer deposits, and accrued expenses (996,596) 7,751,597
Operating lease liability (129,181) (57,635)
Deferred tax liability (48,383) 0
Net cash provided by (used in) operating activities 628,549 (3,351,948)
Cash flows from investing activities:    
Refunds/(Purchases) of property and equipment 8,486  
Refunds/(Purchases) of property and equipment   (138,010)
Net cash provided by (used in) investing activities 8,486 (138,010)
Cash flows from financing activities:    
Additions to notes payable 2,000,000 0
Repayment of finance lease liability (43,180) (43,410)
Payments to settle contingent consideration 0 (230,309)
Repayment of notes payable (3,020,100) (924,469)
Net cash used in financing activities (1,063,280) (1,198,188)
Net change in cash (426,245) (4,688,146)
Cash at beginning of period 1,074,842 11,754,349
Cash at end of period 648,597 7,066,203
Supplemental cash flow information:    
Cash paid for interest 159,366 6,475
Net cash paid for income taxes 0 23,487
Supplemental disclosure of non-cash investing and financing activities:    
Stock issued for contingent consideration 0 191,854
Financing lease right-of-use asset and liability remeasurement $ 0 $ 26,899