Cash Flow

v3.23.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Loss from continuing operations $ (3,861,035) $ (2,037,701)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities - continuing operations:    
Depreciation and amortization 428,655 746,057
Deferred income taxes (20,840) (35,720)
Noncash lease expense 68,540 68,540
Stock-based compensation expense 262,248 439,655
Litigation settlement reserve (908,564)
Allowance for credit losses 1,895 (118,048)
Reduction of merchant reserve 350,000
Changes in operating assets and liabilities, net of effects of discontinued operations:    
Accounts receivable 411,971 610,601
Prepaid expenses and other current assets 350,844 (277,312)
Accounts payable 298,067 168,630
Accrued expenses (152,067) 146,490
Lease liability (77,207) (75,367)
Deferred revenue (126,294) (470,995)
Net cash used in operating activities - continuing operations (2,415,223) (1,393,734)
Net cash used in operating activities - discontinued operations (27,956) (5,633)
Net cash used in operating activities (2,443,179) (1,399,367)
Cash flows from investing activities:    
Payments for technology developed (114,494) (17,085)
Purchases of property and equipment (12,456) (13,477)
Acquisition of assets of Expo Experts (400,000)
Additional acquisition of equity interest in RemoteMore USA, Inc. (351,633)
Net cash used in investing activities (878,583) (30,562)
Cash flows from financing activities:    
Proceeds from the sale of common stock 2,700,000
Repurchases of common stock (515,445)
Net cash provided by (used in) financing activities 2,700,000 (515,445)
Effect of exchange rate fluctuations on cash and cash equivalents 124 5,635
Net decrease in cash and cash equivalents (621,638) (1,939,739)
Cash, cash equivalents, beginning of period 1,236,771 3,402,697
Cash and cash equivalents, end of period 615,133 1,462,958
Supplemental disclosures of other cash flow information:    
Non-cash stock issuance 200,000 400,000
Cash paid for income taxes $ 3,690

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