XML 19 R6.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statement of Cash Flow - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities    
Net income $ 11,849,934 $ 5,359,414
Adjustments to reconcile net income to net cash used in operations:    
Depreciation and amortization 1,563,088 129,182
Non-cash interest 47,725 0
Allowance for losses on notes receivable 307,440 1,598,673
Stock based compensation 1,627,829 1,226,890
Deferred taxes (2,366,549) (1,767,825)
Loss on disposition of intangible assets 1,222,546 0
Bargain purchase gain (5,621,484) 0
Changes in operating assets and liabilities:    
Accounts receivable (3,476,972) 6,856,780
Prepaid expenses, deposits, and other assets (119,283) (155,531)
Prepaid workers' compensation 1,065,368 (611,645)
Accounts payable 348,799 203,645
Risk management incentive program liability 773,157 (953,435)
Other current liabilities (206,236) (571,082)
Accrued benefits and payroll taxes 844,000 (370,473)
Due to franchisees 3,872,240 (381,819)
Workers’ compensation claim payment deposit 6,875,802 (623,452)
Workers' compensation claims liability (1,225,846) 739,566
Net cash provided by operating activities - continuing operations 17,381,558 10,678,888
Net cash used in operating activities - discontinued operations 0 201,440
Net cash provided by operating activities 17,381,558 10,880,328
Cash flows from investing activities    
Purchase of acquisitions (33,736,734) 0
Purchase of property and equipment (1,401,597) (1,421,875)
Proceeds from the sale of purchased locations 997,367 0
Proceeds from the sale of notes receivable 5,261,111 0
Proceeds from payments on notes receivable 669,435 2,075,590
Cash issued for notes receivable (855,664) (330,082)
Investment in intangible assets (573,606) (342,697)
Net change in franchisee deposits 193,389 55,435
Net cash (used in) provided by investing activities (29,446,299) 36,371
Cash flows from financing activities    
Payments related to debt issuance (477,258) 0
Proceeds from the exercise of stock options 33,494 0
Proceeds from affiliates 0 67,398
Purchase of treasury stock 0 (146,465)
Payment of dividends (3,140,600) (1,357,648)
Net cash used in financing activities (347,173) (1,436,715)
Net (decrease) increase in cash (12,411,914) 9,479,984
Cash, beginning of period 13,667,434 4,187,450
Cash, end of period 1,255,520 13,667,434
Supplemental disclosure of non-cash investing and financing activities    
Notes receivable issued for the sale of branches 1,247,040 0
Supplemental disclosure of cash flow information    
Interest paid 109,509 49,664
Income taxes paid 890,719 2,815,745
Line of Credit [Member] | Revolving Credit Facility [Member]    
Cash flows from financing activities    
Proceeds from long-term debt 171,286 0
Term Loan [Member]    
Cash flows from financing activities    
Proceeds from long-term debt 3,153,500 0
Payment on term loan payable $ (87,595) $ 0