XML 17 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2020
Sep. 29, 2019
Cash flows from operating activities    
Net income (loss) $ 4,003,313 $ (3,752,810)
Income from discontinued operations 0 722,756
Net income (loss) from continuing operations 4,003,313 (4,475,566)
Adjustments to reconcile net income to net cash used in operations:    
Depreciation and amortization 96,654 75,630
Allowance for losses on notes receivable 1,598,673 0
Stock based compensation 956,550 353,165
Deferred taxes (1,415,261) 283,666
Gain on disposition of property and equipment 0 (528,786)
Changes in operating assets and liabilities:    
Accounts receivable 4,176,715 (12,728,327)
Prepaid expenses, deposits and other assets (990,773) 1,284,002
Prepaid workers' compensation (1,155,571) (765,910)
Due from affiliates 0 209,570
Accounts payable (248,346) (91,354)
Risk management incentive program liability (792,923) 0
Other current liabilities (228,992) 4,153,022
Accrued benefits and payroll taxes 974,215 (526,930)
Due to franchisees (1,299,224) 4,718,335
Deposits and other long-term assets 0 8,334
Workers' compensation claims liability 1,063,682 431,042
Net cash provided by (used in) operating activities - continuing operations 6,738,712 (7,600,107)
Net cash used in operating activities - discontinued operations 201,440 6,400,550
Net cash provided by (used in) operating activities 6,940,152 (1,199,557)
Cash flows from investing activities    
Purchase of property and equipment (1,154,966) (284,919)
Proceeds from the sale of property and equipment 0 573,840
(Purchase) sale of intangible assets (186,705) 221,845
Proceeds from payments on notes receivable 1,565,169 0
Cash issued for notes receivable (276,030) (55,380)
Net change in franchisee deposits 46,411 665,654
Net cash (used in) provided by investing activities (6,121) 1,121,040
Cash flows from financing activities:    
Net change in line of credit 0 7,602,202
Payments to affiliates 0 (5,450,192)
Purchase of treasury stock (146,465) (8,368,926)
Payment of dividends (677,869) 0
Proceeds from the sale of common stock in Command Center acquisition 0 5,376,543
Net contributions to Legacy HQ members 0 1,155,907
Net cash (used in) provided by financing activities (824,334) 315,534
Net increase in cash 6,109,697 237,017
Cash, beginning of period 4,187,450 1,291,317
Cash, end of period 10,297,147 1,528,334
Stock issued for acquisition 0 26,942,325
Notes receivable issued for the sale of branches 0 14,887,220
Accounts receivable received for the sale of branches 0 2,204,286
Supplemental disclosure of cash flow information    
Interest paid 39,174 521,837
Income taxes paid $ 1,914,935 $ 0