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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net income $ 4,545,553 $ 4,630,239 $ 21,007,506 $ 2,055,068  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:          
Depreciation of property and equipment     4,282,940 4,697,717  
Amortization of intangible assets 1,605,483 1,515,378 4,884,337 4,295,958  
Amortization of finance lease right-of-use assets 1,197,076 1,195,719 3,394,696 2,822,982  
(Gain) loss on disposal of fixed assets 28,681 9,983 (36,717) 163,452  
Deferred income tax     (5,242,787) 1,049,236  
Loss on equity method investments 82,742 95,503 229,923 301,362  
Bad debt expense     3,857,474 (311,441)  
Stock-based compensation     9,755,455 15,161,847  
Loss (gain) on remeasurement of operating and finance leases 6,163 (4,834) 32,052 (4,834)  
Loss on liquidation of business     0 70,284  
Change in fair value of contingent liability 44,520 (159,974) 370,712 (159,974)  
Changes in operating assets and liabilities:          
Accounts receivable     19,837,507 (103,483,997)  
Prepaid expenses and other current assets     12,333,127 (336,093)  
Other assets     (1,086,913) 696,984  
Accounts payable     15,326,159 (12,640,920)  
Accrued liabilities     (31,495,516) 27,319,258  
Net cash provided by (used in) operating activities     57,449,955 (58,303,111)  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Acquisition of property and equipment     (2,940,843) (4,360,807)  
Acquisition of intangibles     (2,228,233) (2,478,808)  
Acquisition of businesses     0 (20,203,464)  
Equity method investments     (310,450) (150,510)  
Proceeds from disposal of property and equipment     178,535 274,210  
Net cash used in investing activities     (5,300,991) (26,919,379)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from revolving credit line     45,000,000 0  
Repayments of revolving credit line     (40,000,000) 0  
Repayments of notes payable     (22,007) (529,583)  
Due to seller     (3,008,976) (8,417,936)  
Acquisition of noncontrolling interest     (1,848,000) 0  
Earnout payments on contingent liabilities     (1,600,029) 0  
Dividends paid to noncontrolling interest     (250,000) 0  
Proceeds from exercise of stock options     684 1,549,298  
Payments for taxes related to shares withheld for employee taxes     (374,311) (2,166,982)  
Common stock repurchased     (11,078,198) 0  
Payments on obligations under finance lease (1,088,265) (782,808) (3,118,054) (2,293,330)  
Net cash used in financing activities     (16,298,891) (11,858,533)  
Effect of exchange rate changes on cash and cash equivalents     510,439 227,887  
Net increase (decrease) in cash and restricted cash     36,360,512 (96,853,136)  
Cash and restricted cash at beginning of period     72,217,986 164,109,074 $ 164,109,074
Cash and restricted cash at end of period 108,578,498 67,255,938 108,578,498 67,255,938 72,217,986
Supplemental disclosure of cash and non-cash transactions:          
Cash paid for interest     1,507,026 179,430  
Cash paid for interest on finance lease liabilities     560,926 394,443  
Cash paid for income taxes     6,542,733 4,223,810  
Right-of-use assets obtained in exchange for lease liabilities     10,980,341 2,407,938  
Remeasurement of finance lease right-of-use asset due to lease modification     300,000 0  
Fixed assets acquired in exchange for notes payable     0 1,369,060  
Supplemental non-cash investing and financing activities:          
CRMS True-up Payment through issuance of stock     1,814,345 0  
Receivable exchanged for trade credits     0 1,500,000  
Pre-acquisition receivables written off through due to seller     4,675,758 0  
Reconciliation of cash and restricted cash          
Cash 89,458,388 52,922,517 89,458,388 52,922,517 59,286,147
Restricted cash 19,120,110 14,333,421 19,120,110 14,333,421  
Total cash and restricted cash shown in statement of cash flows 108,578,498 67,255,938 108,578,498 67,255,938 $ 72,217,986
FMC NA          
Supplemental non-cash investing and financing activities:          
Stock Issued     0 7,000,000  
CRMS          
Adjustments to reconcile net income to net cash provided by (used in) operating activities:          
Change in fair value of contingent liability $ 0 $ 0 298,419 0  
Supplemental non-cash investing and financing activities:          
Stock Issued     $ 0 $ 1,000,000