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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 26, 2022
Jun. 27, 2021
Cash flows from operating activities    
Net income $ 18,976,197 $ 4,154,635
(Income) from discontinued operations (1,234,995) (2,166,448)
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 312,405 350,585
Amortization 1,508,402 1,351,498
Gain on sale of discontinued operations (17,265,562) 0
Loss on disposal of property and equipment 1,963 0
Contingent consideration adjustment 0 (1,194,575)
Amortization of deferred financing fees 138,653 37,406
Interest expense on contingent consideration payable 84,853 144,174
Provision for credit losses 133,458 157,441
Share-based compensation 453,615 435,217
Deferred income taxes, net of acquired deferred tax liability 1,214,901 488,341
Net changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (2,131,137) (6,742,068)
Prepaid expenses 533,293 (511,492)
Other current assets (116,106) (11,210)
Deposits 936,930 (82,703)
Other assets 320,804 166,577
Accrued interest (22,338) 30,681
Accounts payable 206,696 40,475
Accrued payroll and expenses (510,772) 2,998,976
Other current liabilities (2,083,513) 18,977
Income taxes receivable and payable (131,761) (1,866,246)
Operating leases (50,513) (71,631)
Other long-term liabilities (58,331) (94,902)
Net cash provided by (used in) continuing operating activities 1,217,142 (2,366,292)
Net cash provided by discontinued operating activities (2,273,708) 4,105,081
Net cash provided by (used in) continuing operating activities (1,056,566) 1,738,789
Cash flows from investing activities    
Business acquired, net of cash received 0 (3,780,000)
Business sold 30,305,523 0
Capital expenditures (3,530,496) (1,076,385)
Net cash used in continuing investing activities 26,775,027 (4,856,385)
Net cash used in discontinued investing activities (25,755) (27,115)
Net cash provided by (used in) continuing investing activities 26,749,272 (4,883,500)
Cash flows from financing activities    
Net borrowings under line of credit 4,934,670 6,160,142
Principal payments on long-term debt (26,862,500) (937,500)
Payments of dividends (3,136,982) (2,067,931)
Issuance of ESPP shares 419,105 0
Issuance of shares, net of offering costs (4,591) (10,000)
Contingent consideration paid (1,110,000) 0
Net cash (used in) provided by continuing financing activities (25,760,298) 3,144,711
Net change in cash and cash equivalents (67,592) 0
Cash and cash equivalents, beginning of period 112,104 0
Cash and cash equivalents, end of period 44,512 0
Supplemental cash flow information:    
Cash paid for interest, net 29,098 286,147
Cash paid for taxes, net of refunds $ 5,112,768 $ 2,135,213