v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net Income $ 143,384 $ 340
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 351,338 267,189
Stock based compensation 66,505 42,171
Changes in Assets and Liabilities:    
Accounts receivable (1,140,097) (170,096)
Other assets 25,180 (345)
Prepaid expenses and other current assets (719,842) (290,018)
Right of use asset 47,962 21,492
Accounts payable and accrued expenses 2,991,981 558,679
Deferred revenue (74,409) (59,489)
Operating lease liability (48,179) (21,364)
Net Cash Provided by Operating Activities 1,643,823 348,559
Cash Flows from Investing Activities:    
 Capital expenditures (25,946) (257,238)
Net Cash Used in Investing Activities (25,946) (257,238)
Cash Flows from Financing Activities:    
Repayments of finance lease obligations related party (274,393) (313,925)
Repayments of finance lease obligations (65,515) (36,682)
Cash received for the exercised of options 6,935
Net Cash Used in Financing Activities (332,973) (350,607)
Increase (decrease) in Cash and Cash Equivalents 1,284,904 (259,286)
Cash and Cash Equivalents, Beginning of Period 12,135,803 893,598
Cash and Cash Equivalents, End of Period 13,420,707 634,312
Supplemental Disclosures:    
Cash paid for interest 41,040 31,971
Cash paid for income taxes
Accrual of preferred stock dividend 38,883
Assets acquired by finance lease $ 881,308 $ 50,000

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