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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net income $ 17,201,204 $ 9,176,225
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 470,950 688,096
Amortization of debt issuance costs 103,304 133,997
Stock-based compensation expense 770,626 355,878
Deferred income taxes (13,363,661) (6,574,463)
Bad debt expense 72,099
Changes in operating assets and liabilities:    
Decrease in accounts receivable 505,576 37,843
Decrease (increase) in insurance recovery receivable 3,600,000 (750,000)
Increase in contract assets (7,927,528) (2,925,201)
Decrease in inventory 1,056,422 1,535,856
Decrease (increase) in prepaid expenses and other current assets 297,804 (350,755)
Decrease in operating right-of-use assets 1,786,434 1,270,141
Increase (decrease) in accounts payable and accrued expenses 5,107,211 (1,157,019)
(Decrease) increase in litigation settlement obligation (3,600,000) 596,741
(Decrease) increase in contract liabilities (64,097) 878,960
Decrease in lease liabilities (1,795,417) (1,131,135)
Decrease in loss reserve (239,198) (919,165)
Increase in income taxes payable 18,711 6,231
Net cash provided by operating activities 3,928,341 944,329
Cash flows from investing activities:    
Purchase of property and equipment (140,450) (40,789)
Net cash used in investing activities (140,450) (40,789)
Cash flows from financing activities:    
Principal payments on line of credit (960,000) (250,000)
Principal payments on long-term debt (1,719,766) (3,115,181)
Proceeds from insurance financing obligation 330,482
Repayments of insurance financing obligation (49,572)
Taxes paid related to net share settlement of equity awards (87,132)
Debt issuance costs (54,334)
Net cash used in financing activities (2,540,322) (3,365,181)
Net increase (decrease) in cash 1,247,569 (2,461,641)
Cash at beginning of year 3,847,225 6,308,866
Cash at end of year 5,094,794 3,847,225
Supplemental disclosure of cash flow information:    
Cash paid during the year for interest 2,454,065 1,792,858
Cash paid for income taxes $ 4,364 $ 25,291