XML 15 R6.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (646,211) $ (669,853)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 28,091 1,909  
Bad debt expense 23,287 2,661  
Parts and supplies reserve 1,500  
Amortization of deferred financing costs 39,287 45,963  
Amortization of beneficial conversion option 11,786 17,679  
Amortization of debt discount 8,889  
Amortization of right of use asset 45,197 10,328  
Stock issued for services 57,500 87,500  
Stock options compensation 11,573 56,124  
Note conversion stock issue expense 141,000  
Warrant issue expense 236,761  
Interest on converted debt 176,105  
Gain on extinguishment of debt (287,426)  
Amortization of original issue discount on notes 16,864  
Changes in operating assets and liabilities:      
Accounts receivable 294,853 (16,640)  
Accounts receivable, unbilled 8,423 25,732  
Parts and supplies, net (11,506) 3,153  
Prepaid expenses and other current assets (82,390) 8,486  
Right of use assets (138,549)  
Accounts payable and accrued expenses (90,718) 58,490  
Lease liabilities, current and long-term (43,908) 133,000  
Deferred compensation (13,046) (11,077)  
Accrued interest, current and long-term 20,000 168,429  
Deferred revenues (89,862) (71,758)  
Total adjustments 502,260 381,430  
Net cash used in operating activities (143,951) (288,423)  
Cash flows from investing activities:      
Cash paid to acquire business, net of cash acquired (3,888,984)  
Purchases of property and equipment (7,742)  
Net cash used in investing activities (3,896,726)  
Cash flows from financing activities:      
Proceeds from issuance of common stock 3,167,500  
Offering costs paid on issuance of common stock (307,867)  
Payment of deferred financing costs (175,924)  
Proceeds from notes payable 2,000,000  
Repayment of notes payable - related parties (11,255)  
Net cash provided by/(used in) financing activities 4,683,709 (11,255)  
Net increase (decrease) in cash 643,032 (299,678)  
Cash - beginning of period 404,165 1,088,630 $ 1,088,630
Cash - end of period 1,047,197 788,952 $ 404,165
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest and taxes 2,154 2,652  
Supplemental disclosure of non-cash financing activities:      
Accrued interest notes payable converted to equity 796,074  
Accrued interest notes payable related parties converted to equity 238,883  
Discount on notes payable for beneficial conversion feature 320,000  
Discount on notes payable for warrants 135,292  
Notes payable converted to equity 3,421,063  
Notes payable converted to equity - related parties 1,465,515  
Supplemental disclosure of non-cash financing activities relating to business acquisition:      
Cash 17,269  
Accounts receivable 1,071,770  
Accounts receivable, unbilled 266,403  
Parts and supplies 101,016  
Prepaid expenses 73,116  
Other current assets 5,954  
Right of use assets 2,885,618  
Property and equipment 732,372  
Intangible assets 1,230,000  
Accounts payable (129,622)  
Accrued expenses (155,949)  
Lease liabilities (2,947,684)  
Federal and state taxes payable (168,900)  
Deferred revenues (39,186)  
Deferred tax liabilities, net (149,900)  
Net assets acquired in acquisition 2,792,277  
Total goodwill acquired in acquisition 1,800,176  
Total purchase price of acquisition 4,592,453  
Total purchase price of business acquisition financed with contingent consideration liability (686,200)  
Cash used in business acquisition $ 3,906,253