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Consolidated Statements of Cash Flows - USD ($)
4 Months Ended 12 Months Ended
May 12, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Successor        
Cash flows from operating activities:        
Net (loss) income   $ (8,475,268)    
Adjustments to reconcile net (loss) income to net cash flows provided by operating activities:        
Stock-based compensation   8,883,142    
Provision for credit losses   134,372    
Depreciation and amortization expense   21,408,385    
Gain on sale of equipment   (149,683)    
Sales-type lease revenue      
Interest income   (19,679)    
Amortization of debt issuance costs   92,559    
Deferred income tax expense (benefit)   (1,406,439)    
Operating lease expense   1,064,232    
Adjustment of Earn Out Contingency   (3,095,114)    
Change in operating assets and liabilities:        
Accounts receivable   2,524,336    
Net investment in leases   151,005    
Maintenance supplies   (261,676)    
Income tax receivable   (304,615)    
Prepaid expenses and other assets   (2,686,326)    
Deposits   (274,761)    
Accounts payable   (5,767,241)    
Book overdraft      
Accrued liabilities   (69,006)    
Income tax payable   (78,700)    
Settlement liability      
Operating lease liabilities   (950,563)    
Net cash flows provided by operating activities   10,718,960    
Cash flows from investing activities:        
Proceeds from sale of equipment   1,581,123    
Purchases of property and equipment   (6,176,910)    
Business combinations, net of cash acquired   (200,437,521)    
Net cash flows (used in) provided by investing activities   (205,033,308)    
Cash flows from financing activities:        
Proceeds from line of credit   20,918,664    
Proceeds from long-term debt   20,422,522    
Repayments of line of credit   (16,830,384)    
Repayments of long-term debt   (23,268,572)    
Repayment of SBA Loan   (3,838,654)    
Repayments of finance lease obligations   (53,771)    
Payment of finance fees   (386,825)    
Dividend Paid on Series A Preferred Stock      
Common stock issued at IPO   212,291,849    
Net cash flows provided by (used in) financing activities   209,254,829    
Net change in cash   14,940,481    
Cash and cash equivalents, beginning of period $ 458,233 458,233    
Cash and cash equivalents, end of period   15,398,714 $ 458,233  
Supplemental disclosure of cash flow information:        
Cash paid for interest   3,697,314    
Cash paid for taxes   1,958,965    
Noncash investing and financing activity:        
Addition of right-of-use asset upon adoption of ASC 842      
Right of use assets obtained in exchange for lease liability   12,034,768    
Equipment financed through long-term debt   22,230,556    
Accrued and unpaid dividends      
Issuance of shares for business combinations   123,864,097    
Predecessor        
Cash flows from operating activities:        
Net (loss) income (15,384,676)   7,156,170 $ 10,399,119
Adjustments to reconcile net (loss) income to net cash flows provided by operating activities:        
Stock-based compensation  
Provision for credit losses 53,000   298,000 (9,712)
Depreciation and amortization expense 934,988   2,523,971 2,289,026
Gain on sale of equipment (235,081)   (173,859) (47,847)
Sales-type lease revenue   (25,000) (60,094)
Interest income (273)   (2,488) (3,448)
Amortization of debt issuance costs 4,795   13,115 38,392
Deferred income tax expense (benefit) (3,697,804)   857,606 1,650,312
Operating lease expense 25,404   28,918 177,742
Adjustment of Earn Out Contingency  
Change in operating assets and liabilities:        
Accounts receivable 7,745,840   (1,617,276) (8,323,632)
Net investment in leases 11,515   110,469 94,942
Maintenance supplies 305,619   (153,927) (315,287)
Income tax receivable (2,640,127)  
Prepaid expenses and other assets 1,029,275   (273,031) 245,612
Deposits 42,954   (122,454) (543,046)
Accounts payable (159,661)   798,800 617,760
Book overdraft (891,410)   (243,716) 684,549
Accrued liabilities 22,055,094   1,498,411 1,191,160
Income tax payable (1,174,959)   89,083 1,065,449
Settlement liability   (3,025,000)
Operating lease liabilities (27,951)   (29,314) (177,347)
Net cash flows provided by operating activities 7,996,542   10,733,478 5,948,650
Cash flows from investing activities:        
Proceeds from sale of equipment 252,441   709,916 195,844
Purchases of property and equipment (303,534)   (515,661) (642,986)
Business combinations, net of cash acquired  
Net cash flows (used in) provided by investing activities (51,093)   194,255 (447,142)
Cash flows from financing activities:        
Proceeds from line of credit 13,265,526   134,931,841 119,103,397
Proceeds from long-term debt  
Repayments of line of credit (16,715,655)   (137,737,169) (122,655,418)
Repayments of long-term debt (719,572)   (1,877,266) (845,088)
Repayment of SBA Loan  
Repayments of finance lease obligations (1,427,821)   (1,244,490) (1,137,709)
Payment of finance fees   (17,616)
Dividend Paid on Series A Preferred Stock   (5,000,000)  
Common stock issued at IPO  
Net cash flows provided by (used in) financing activities (5,597,522)   (10,927,084) (5,552,434)
Net change in cash 2,347,927   649 (50,926)
Cash and cash equivalents, beginning of period 4,273 $ 4,273 3,624 54,550
Cash and cash equivalents, end of period 2,352,200   4,273 3,624
Supplemental disclosure of cash flow information:        
Cash paid for interest 786,925   1,118,976 1,150,854
Cash paid for taxes 1,187,370   1,254,412 415,203
Noncash investing and financing activity:        
Addition of right-of-use asset upon adoption of ASC 842   211,117,000,000
Right of use assets obtained in exchange for lease liability 328,489  
Equipment financed through long-term debt   4,842,685 303,740
Accrued and unpaid dividends 260,526   947,580 984,914
Issuance of shares for business combinations