Cash Flow

v3.22.1
Condensed Consolidated Statements of Cash flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Loss from continuing operations $ (889,524) $ (755,615)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities - continuing operations:    
Depreciation and amortization 281,273 29,606
Deferred tax benefit (25,787) (64,704)
Amortization of right-of-use asset (2,276) 22,847
Stock-based compensation expense 124,484 106,428
Litigation settlement reserve 16,789
Issuance of common stock related to settlement 166,500
Reduction of merchant reserve 190,000
Changes in operating assets and liabilities, net of effects of discontinued operations:    
Accounts receivable 294,969 (60,619)
Prepaid expenses and other current assets (370,572) 1,987
Incremental direct costs (6,636)
Accounts payable 212,321 (296,600)
Accrued expenses (182,547) (126,154)
Deferred revenue 63,527 213,862
Net cash used in operating activities - continuing operations (287,343) (769,098)
Net cash provided by operating activities - discontinued operations (1,240) 35,364
Net cash used in operating activities (288,583) (733,734)
Cash flows from investing activities:    
Costs incurred to develop technology (3,470)
Purchases of property and equipment (1,791) (2,658)
Net cash used in investing activities - continuing operations (1,791) (6,128)
Net cash used in investing activities - discontinued operations
Net cash provided used in investing activities (1,791) (6,128)
Cash flows from financing activities:    
Proceeds from the sale of common stock 1,000,000
Stock buyback plan (139,979)
Net cash provided by financing activities - continuing operations (139,979) 1,000,000
Net cash provided by financing activities (139,979) 1,000,000
Effect of exchange rate fluctuations on cash and cash equivalents 1,242 (35,364)
Net increase (decrease) in cash and cash equivalents (429,111) 224,774
Cash, cash equivalents, beginning of period 3,402,697 2,117,569
Cash and cash equivalents, end of period 2,973,586 2,342,343
Supplemental disclosures of other cash flow information:    
Non-cash stock issuance 400,000 166,500
Cash paid for income taxes

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