v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash Flows from Operating Activities:    
Net loss from continuing operations $ (4,003,671) $ (3,048,892)
Net income from discontinued operations 2,627,758 2,859,788
Adjustments to reconcile net loss from continuing operations to cash used in operating activities of continuing operations:    
Stock-based compensation expense 55,050 14,383
Stock issued to directors as compensation 72,000 0
Amortization of deferred financing costs 14,633 18,949
Depreciation 34,289 29,223
Provision for doubtful accounts, net of recoveries 32,047 (102,721)
Related party payable 161,075 0
Deferred income taxes 199,386 199,386
Changes in operating assets and liabilities:    
Accounts receivable 512,250 (756,961)
Inventories (124,709) 292,102
Prepaid expenses and other current assets (59,109) (61,549)
Deposits and other long term assets 23,871 0
Accounts payable (649,031) 225,283
Accrued liabilities and expenses 79,618 120,130
Deferred revenue 61,410 186,958
Related party payable (63,948) 0
Customer deposits 119,375 (157,230)
Deferred lease liability (2,424) (13,562)
Net Cash Used In Operating Activities of Continuing Operations (910,130) (194,713)
Net Cash Provided By Operating Activities of Discontinued Operations 176,275 54,018
Net Cash Used In Operating Activities (733,855) (140,695)
Cash Flows From Investing Activities:    
Purchase of property and equipment (36,629) (42,081)
Change in restricted cash 31,277 31,723
Net Cash Used In Investing Activities of Continuing Operations (5,352) (10,358)
Cash Flows From Financing Activities:    
Payments on note payable (93,340) (300,612)
Proceeds from exercise of warrants 677,501 262,500
Net Proceeds from line of credit 160,358 273,567
Net Cash Provided By Financing Activities of Continuing Operations 744,519 235,455
Net increase in cash and cash equivalents 5,312 84,402
Cash and cash equivalents at the beginning of the year 679,803 595,401
Cash and cash equivalents at the end of the year 685,115 679,803
Cash transactions:    
Cash paid during the year for interest 57,266 54,428
Cash paid during the year for income taxes, net of refunds 15,090 (10,431)
Non-cash transactions:    
Accretion of dividends on redeemable preferred stock $ 0 $ 47,628

Source