Cash Flow

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash Flows from Operating Activities:    
Net income (loss) $ 3,746,378 $ (1,375,913)
Less: Net income from discontinued operations (612,875) (2,627,758)
Gain on sale of discontinued operations (6,630,244) 0
Net loss from continuing operations (3,496,741) (4,003,671)
Adjustments to reconcile net loss from continuing operations to cash used in operating activities of continuing operations:    
Stock-based compensation expense 322,888 55,050
Stock issued to directors as compensation 144,000 72,000
Amortization of deferred financing costs 0 14,633
Depreciation and amortization 51,229 34,289
Provision for doubtful accounts, net of recoveries 35,187 32,047
Related party payable 0 161,075
Deferred income taxes 0 199,386
Changes in operating assets and liabilities:    
Accounts receivable (241,701) 512,250
Inventories (482,334) (124,709)
Prepaid expenses and other current assets 61,762 (59,109)
Deposits and other long term assets (17,130) 23,871
Accounts payable 212,590 (649,031)
Accrued liabilities and expenses (256,767) 230,554
Deferred revenue 206,852 61,410
Related party payable (97,127) (63,948)
Customer deposits (41,450) 119,375
Income taxes receivable (17,300) 0
Deferred lease liability 21,136 (2,424)
Net Cash Used In Operating Activities of Continuing Operations (3,594,906) (3,386,952)
Net Cash Provided By Operating Activities of Discontinued Operations 517,242 2,759,840
Net Cash Used In Operating Activities (3,077,664) (627,112)
Cash Flows From Investing Activities:    
Purchase of property and equipment (211,492) (36,629)
Net proceeds from sale of subsidiary 12,072,811 0
Change in restricted cash (810,000) 31,277
Net Cash Provided By (Used In) Investing Activities of Continuing Operations 11,051,319 (5,352)
Cash Flows From Financing Activities:    
Payments on notes payable 0 (93,340)
Proceeds from exercise of warrants 0 677,501
Proceeds from line of credit 4,373,600 7,203,371
Payments on line of credit (4,753,518) (7,043,013)
Net Cash (Used In) Provided By Financing Activities of Continuing Operations (379,918) 744,519
Net increase in cash and cash equivalents 7,593,737 112,055
Cash and cash equivalents at the beginning of the period 791,858 679,803
Cash and cash equivalents at the end of the period 8,385,595 791,858
Cash transactions:    
Cash paid during the year for interest 17,173 57,266
Cash paid during the year for income taxes, net of refunds $ 139,823 $ 15,090

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