XML 20 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net income (loss) $ 1,357,951 $ (2,200,201)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 413,932 296,935
Bad debt (recovery) expense (11,187) 54,834
Parts and supplies reserve change 9,000 15,000
Amortization of deferred financing costs 103,739 117,091
Amortization of beneficial conversion option 11,786
Amortization of debt discount 106,666 88,889
Amortization of right of use asset 635,649 405,227
Stock issued for services 57,500 57,500
Stock options compensation 92,253 58,770
Note conversion stock issue expense 141,000
Warrant issue expense 236,761
Interest on converted debt 176,106
Amortization of original issue discount on notes 18,296
Gain on extinguishment of debt (845,083) (287,426)
Change in fair value of earnout liabilities 141,414 1,554,800
Changes in operating assets and liabilities:    
Accounts receivable (372,492) 605,094
Accounts receivable, unbilled 78,740 (224,128)
Parts and supplies (5,907) 796
Prepaid expenses and other current assets (93,745) 6,745
Accounts payable and accrued expenses 141,562 (645,596)
Lease liabilities, current and long-term (618,986) (396,292)
Deferred compensation (16,338)
Accrued interest, current and long-term 442 5,940
Deferred revenues 198,518 43,399
Total adjustments 32,015 2,325,189
Net cash provided by operating activities 1,389,966 124,988
Cash flows from investing activities:    
Cash paid to acquire business, net of cash acquired (4,019,098)
 Purchases of property and equipment (590,485) (76,854)
Net cash used in investing activities (590,485) (4,095,952)
Cash flows from financing activities:    
Payment of earnout liabilities (954,733)
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 3,008,700
Repayment of notes payable (170,000)
Repayment of notes payable - related parties (47,728)
Net cash (used in) provided by financing activities (954,733) 5,474,681
Net (decrease) increase in cash (155,252) 1,503,717
Cash - beginning of period 1,907,882 404,165
Cash - end of period 1,752,630 1,907,882
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 242,545 202,291
Cash paid during the period for income taxes 4,595 117,072
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
Right-of-use asset obtained in exchange for operating lease liability 1,836,256
Supplemental disclosure of non-cash investing activities relating to business acquisitions:    
Cash 17,269
Accounts receivable 1,122,737
Accounts receivable, unbilled 276,023
Parts and supplies 91,396
Prepaid expenses 73,116
Other current assets 5,954
Right of use assets 2,885,618
Property and equipment 735,885
Intangible assets 1,361,000
Accounts payable (168,749)
Accrued expenses (162,426)
Lease liabilities (2,947,684)
Federal and state taxes payable (168,900)
Deferred revenues (198,659)
Deferred tax liabilities, net (149,900)
Net assets acquired in acquisition 2,772,680
Total goodwill acquired in acquisition 2,322,887
Total purchase price of acquisition 5,095,567
Purchase price of business acquisition financed with earnout liability (889,200)
Purchase price of business acquisition financed with installment payments (170,000)
Cash used in business acquisition $ 4,036,367