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Consolidated Statements of Cash Flows - USD ($)
4 Months Ended 12 Months Ended
May 12, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Successor        
Cash flows from operating activities:        
Net (loss) income   $ (36,019,566) $ (8,475,268)  
Adjustments to reconcile net (loss) income to net cash flows provided by operating activities:        
Stock-based compensation   5,527,316 8,883,142  
Provision for credit losses   764,646 134,372  
Depreciation and amortization expense   39,306,130 21,408,385  
Gain on sale of equipment   (257,864) (149,683)  
Sales-type lease revenue    
Interest income   (31,866) (19,679)  
Amortization of debt issuance costs   73,666 92,559  
Deferred income tax expense (benefit)   (7,737,639) (1,406,439)  
Operating lease expense   2,952,633 1,064,232  
Impairment   27,787,000  
Adjustment of Earn Out Contingency   (3,095,114)  
Change in operating assets and liabilities:        
Accounts receivable   (3,744,444) 2,524,336  
Net investment in leases   325,132 151,005  
Maintenance supplies   (152,826) (261,676)  
Income tax receivable   81,046 (304,615)  
Prepaid expenses and other assets   889,238 (2,686,326)  
Deposits   (717,141) (274,761)  
Accounts payable   (2,305,808) (5,767,241)  
Book overdraft    
Accrued liabilities   9,222,528 (69,006)  
Income tax payable   (78,700)  
Operating lease liabilities   (2,780,646) (950,563)  
Net cash flows provided by operating activities   33,181,535 10,718,960  
Cash flows from investing activities:        
Proceeds from sale of equipment   1,142,254 1,581,123  
Purchases of property and equipment   (3,899,791) (6,176,910)  
Business combinations, net of cash acquired   (8,765,636) (200,437,521)  
Net cash flows (used in) provided by investing activities   (11,523,173) (205,033,308)  
Cash flows from financing activities:        
Proceeds from line of credit   4,000,000 20,918,664  
Proceeds from long-term debt   9,000,000 20,422,522  
Repayments of line of credit   (11,000,000) (16,830,384)  
Repayments of long-term debt   (24,682,562) (23,268,572)  
Repayment of SBA Loan   (3,838,654)  
Repayments of finance lease obligations   (88,769) (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   (22,771,331) 209,254,829  
Net change in cash and cash equivalents   (1,112,969) 14,940,481  
Cash and cash equivalents, beginning of period $ 458,233 15,398,714 458,233  
Cash and cash equivalents, end of period   14,285,745 15,398,714 $ 458,233
Supplemental disclosure of cash flow information:        
Cash paid for interest   6,605,517 3,697,314  
Cash paid for taxes   1,107,476 1,958,965  
Noncash investing and financing activity:        
Right of use assets obtained in exchange for lease liability   3,819,657 12,034,768  
Equipment financed through long-term debt   8,084,367 22,230,556  
Accrued and unpaid dividends    
Issuance of shares for business combinations   $ 3,814,864 123,864,097  
Predecessor        
Cash flows from operating activities:        
Net (loss) income (15,384,676)     7,156,170
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
Depreciation and amortization expense 934,988     2,523,971
Gain on sale of equipment (235,081)     (173,859)
Sales-type lease revenue     (25,000)
Interest income (273)     (2,488)
Amortization of debt issuance costs 4,795     13,115
Deferred income tax expense (benefit) (3,697,804)     857,606
Operating lease expense 25,404     28,918
Impairment    
Adjustment of Earn Out Contingency    
Change in operating assets and liabilities:        
Accounts receivable 7,745,840     (1,617,276)
Net investment in leases 11,515     110,469
Maintenance supplies 305,619     (153,927)
Income tax receivable (2,640,127)    
Prepaid expenses and other assets 1,029,275     (273,031)
Deposits 42,954     (122,454)
Accounts payable (159,661)     798,800
Book overdraft (891,410)     (243,716)
Accrued liabilities 22,055,094     1,498,411
Income tax payable (1,174,959)     89,083
Operating lease liabilities (27,951)     (29,314)
Net cash flows provided by operating activities 7,996,542     10,733,478
Cash flows from investing activities:        
Proceeds from sale of equipment 252,441     709,916
Purchases of property and equipment (303,534)     (515,661)
Business combinations, net of cash acquired    
Net cash flows (used in) provided by investing activities (51,093)     194,255
Cash flows from financing activities:        
Proceeds from line of credit 13,265,526     134,931,841
Proceeds from long-term debt    
Repayments of line of credit (16,715,655)     (137,737,169)
Repayments of long-term debt (719,572)     (1,877,266)
Repayment of SBA Loan    
Repayments of finance lease obligations (1,427,821)     (1,244,490)
Payment of finance fees    
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)
Net change in cash and cash equivalents 2,347,927     649
Cash and cash equivalents, beginning of period 4,273   $ 4,273 3,624
Cash and cash equivalents, end of period 2,352,200     4,273
Supplemental disclosure of cash flow information:        
Cash paid for interest 786,925     1,118,976
Cash paid for taxes 1,187,370     1,254,412
Noncash investing and financing activity:        
Right of use assets obtained in exchange for lease liability 328,489    
Equipment financed through long-term debt     4,842,685
Accrued and unpaid dividends 260,526     947,580
Issuance of shares for business combinations