XML 140 R7.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Dec. 31, 2022
Operating activities        
Net loss $ (1,899,122) $ (2,348,771) $ (10,471,889) $ (17,505,765)
Adjustments to reconcile net loss to net cash used in operations:        
Depreciation expense 276,522 273,087 1,108,186 1,769,621
Impairment of fixed assets     105,506 258,114
Impairment of goodwill and other intangible assets     2,636,402
Amortization of bond premium and realized loss on investments in debt securities 21,737 34,556 52,096
Amortization of operating lease - right-of-use asset 57,852 55,038 224,388
Amortization of operating lease - right-of-use asset - related party 18,388 30,160
Amortization of debt discount 535,182 1,403,244
Amortization of intangible assets 111,667     482,064
Bad debt expense 3,121 83,564 17,489
Warrants issued for services rendered    
Stock issued for services     309,781 717,759
Stock issued for services - related parties 147,334 192,061 1,215,365 694,524
Loss on debt extinguishment - related party     291,000
(Increase) in:        
Accounts Receivable (341,584) (219,739) (509,212) (688,425)
Inventory (19,907) 5,176 17,191 (104,905)
Prepaids and other (287,289) (17,232) 108,442 (147,845)
Deposits     3,674
Increase in:        
Accounts payable and accrued expenses 373,905 (432,838) (411,204) 677,114
Accounts payable and accrued expenses - related party 64,783 72,428
Operating lease liability (48,781) (45,057) (230,014) 24,240
Operating lease liability - related party (17,431) (28,563)
Net cash used in operating activities (1,140,148) (2,513,417) (6,643,397) (11,599,581)
Investing activities        
Proceeds from sale of marketable debt securities 1,150,928 2,130,116 1,151,186
Cash Paid to EzFill Holdings, Inc.     (321,250)
Acquisition of vehicle (11,667) 40,616 (3,258,417)
Net cash used in investing activities (11,667) 1,150,928 2,170,732 (2,428,481)
Financing activities        
Proceeds from notes payable - related party     250,000 2,191,308
Proceeds from line of credit     1,000,000
Proceeds from stock issued for cash 25,308 25,308
Cash paid for direct offering costs (25,308) (25,308)
Repayments on line of credit     (1,000,000)
Repayments on notes payable (276,557) (199,723) (945,243)
Repayments on loan payable - related party     (262,500) (657,719)
Net cash provided by financing activities 973,443 (199,723) 2,632,857 2,533,589
Net increase (decrease) in cash (178,372) (1,562,212) (1,839,808) (11,494,473)
Cash and cash equivalents - beginning of year 226,985 2,066,793 2,066,793 13,561,266
Cash and cash equivalents - end of year 48,613 504,581 226,985 2,066,793
Supplemental disclosure of cash flow information        
Cash paid for interest 64,567 31,735 178,944 101,075
Cash paid for income taxes
Supplemental disclosure of non-cash investing and financing activities        
Debt discount in connection with the issuance of notes payable - related party 470,893    
Debt discount in connection with notes payable     1,621,650
Proceeds from notes payable - related parties     4,590,600
Realized gains on sale of investments in debt securities - elimination of AOCL     44,590  
True up notes payable and vehicle balances for actual borrowings     24,664
Right-of-use asset obtained in exchange for new operating lease liability – related party     316,557
Depreciation expense 276,522 273,087 1,108,186 1,769,621
Next NRG Holding Corp [Member]        
Operating activities        
Net loss (415,876) (900) (596,039) (13,715)
Adjustments to reconcile net loss to net cash used in operations:        
Depreciation expense     9,992
Accretion Income     (178,525)
Imputed Interest – Related Party 742 74,559 1,732
Amortization of debt discount 438,393    
Amortization of intangible assets 111,667 0  
Recognition of stock based compensation (Series A and B common stock) 190,312    
Unrealized loss on marketable securities - related party (19,758)    
Unrealized loss on marketable securities - related party 19,758    
(Increase) in:        
Accrued interest receivable - related party (64,831)    
Note receivable – related party     (55,538) (1,556)
Increase in:        
Accounts payable and accrued expenses 5,636 68,525 2,632
Accounts payable and accrued expenses - related party 235,717    
Net cash used in operating activities 107,592 (900) (677,026) (10,907)
Investing activities        
Cash Paid to EzFill Holdings, Inc. (1,550,000) (2,350,000)
Advances - related party (1,250,000)    
Acquisition of marketable securities - related party (345,893)    
Acquisition of vehicle     (88,734)
Net cash used in investing activities (3,145,893) (2,615,155)
Financing activities        
Repayments on notes payable (1,331,250)    
Borrowings on debt - related party     3,835,000
Proceeds from issuance of Series X preferred stock - related party 1    
Net cash provided by financing activities 2,533,751 3,835,000
Net increase (decrease) in cash (504,550) (900) 542,819 (10,907)
Cash and cash equivalents - beginning of year 544,276 1,457 1,457 12,364
Cash and cash equivalents - end of year 39,726 557 544,276 1,457
Supplemental disclosure of cash flow information        
Cash paid for interest
Cash paid for income taxes
Supplemental disclosure of non-cash investing and financing activities        
Debt discount in connection with notes payable 1,227,500    
Cash Received from NR- The Farkas Group     73,579
Escrow Deposit on Future Acquisition     (250,000)
Accretion income on notes receivable - related party (418,724)    
Depreciation expense 4,798 9,992
Acquisition of Stat-EI, Inc. 3,700,000    
Original issue discount on notes receivable - related party 125,000    
Related Party [Member]        
Adjustments to reconcile net loss to net cash used in operations:        
Accretion Income (418,724) 0    
Recognition of stock based compensation (Series A and B common stock)     1,215,365 $ 694,524
Loss on debt extinguishment - related party     $ 291,000  
Financing activities        
Proceeds from notes payable - related party 1,250,000    
Related Party [Member] | Next NRG Holding Corp [Member]        
Adjustments to reconcile net loss to net cash used in operations:        
Unrealized loss on marketable securities - related party (19,758)    
Unrealized loss on marketable securities - related party 19,758    
Financing activities        
Proceeds from notes payable - related party 1,365,000    
Nonrelated Party [Member] | Next NRG Holding Corp [Member]        
Financing activities        
Proceeds from notes payable - related party $ 2,500,000