XML 20 R6.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (1,070,095) $ (282,219)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Deferred income taxes (337,837) (115,107)
Depreciation and amortization 328,894 386,847
Amortization of intangibles 671,504 732,552
Amortization of right of use assets 126,337 636,428
Bad debt provision 19,901 160,000
Share-based compensation 41,497 180,260
Changes in assets and liabilities:    
Accounts receivable (755,816) (466,101)
Unbilled services 172,758 (82,947)
Deferred charges 780,987 (1,219,295)
Prepaid expenses and other current assets (180,234) (316,130)
Deposits and other assets 16,105 3,252
Accounts payable 1,290,693 1,234,530
Accrued expenses 222,217 689,555
Income tax payable 0 (69,614)
Accrued interest 750 (5,027)
Deferred revenues (617,519) 1,207,836
Operating lease obligations (126,337) (636,428)
Net cash provided by operating activities 583,805 2,038,392
Cash flows from investing activities:    
Purchase of property and equipment (120,927) (38,742)
Acquisition of assets (278,489) (150,000)
Net cash used in investing activities (399,416) (188,742)
Cash flows from financing activities:    
Payment of cash dividend (1,051,256) 0
Payment of long-term debt (680,145) (316,138)
Payment of long-term debt – related party (103,333) (108,309)
Payment of finance lease obligations (214,990) (230,687)
Net cash used in financing activities (2,049,724) (655,134)
Net (decrease) increase in cash (1,865,335) 1,194,516
Cash, beginning of year 8,008,633 6,814,117
Cash, end of year 6,143,298 8,008,633
During the year, cash was paid for the following:    
Income taxes 300,732 94,141
Interest $ 57,020 $ 40,193