XML 15 R6.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (527,455) $ (501,165)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 559,735 585,361
Amortization of debt issue costs 18,761 13,399
Stock based compensation expense   52,107
Change in contract loss provision 16,170 18,402
Deferred income taxes (146,430) (173,714)
Change in fair value for contingent consideration   (33,474)
Changes in operating assets and liabilities:    
Accounts receivable (629,215) 501,882
Contract assets 296,468 (452,411)
Work-in-process and raw materials (39,861) (665,192)
Other current assets 24,526 693,394
Accounts payable (1,480,387) 481,208
Accrued expenses (167,629) (85,348)
Contract liabilities 520,104 21,083
Other noncurrent liabilities 1,670,270 993,203
Net cash provided by operating activities 115,057 1,448,735
CASH FLOWS FROM INVESTING ACTIVITIES:    
Fixed asset deposit   (559,000)
Purchases of property, plant, and equipment (1,854,002) (203,981)
Net cash used in investing activities (1,854,002) (762,981)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Debt issue costs   (6,268)
Revolver loan payments and borrowings, net 1,630,000 (987,002)
Payments of principal for leases (6,191) (16,860)
Repayments of long-term debt (147,420) (154,125)
Net cash provided by (used in) financing activities 1,476,389 (1,164,255)
Net decrease in cash and cash equivalents (262,556) (478,501)
Cash and cash equivalents, beginning of period 534,474 1,052,139
Cash and cash equivalents, end of period 271,918 573,638
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION:    
Cash paid for interest; net of amounts capitalized $ 67,175 $ 69,799