XML 13 R6.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ (2,689,821) $ 7,970
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Stock-based compensation 98,619 153,361
Provision for credit losses (9,433) 217,742
Depreciation and amortization 1,652,331 1,834,602
Amortization of premium and debt issuance costs (1,883,841) 335,639
Gain on disposition (1,698,228)  
Gain on sale of investment   (6,026,776)
Deferred income taxes (1,570,339) (989,766)
Equity in earnings of unconsolidated affiliates (26,198) 8,647
Change in operating assets and liabilities:    
Accounts receivable 5,256,224 6,697,496
Prepaid expenses 809,716 (88,149)
Other assets (928,464) 241,709
Accounts payable (3,082,509) (2,584,825)
Other liabilities 746,272 (3,884,195)
Other operating activities (148,834) 39,661
Net cash used in operating activities (3,474,505) (4,036,884)
Cash flows from investing activities:    
Capital expenditures (800,165) (947,724)
Proceeds from disposition 2,746,507  
Proceeds from sale of investment   6,026,776
Net cash provided by investing activities 1,946,342 5,079,052
Cash flows from financing activities:    
Purchase of treasury stock (9,105) (12,636)
Net cash used in financing activities (9,105) (12,636)
Net increase (decrease) in cash and cash equivalents (1,537,268) 1,029,532
Cash and cash equivalents at beginning of period 13,772,720 26,733,921
Cash and cash equivalents at end of period 12,235,452 27,763,453
Cash paid for interest 6,592,232 11,514,377
Cash paid for income taxes $ 112,450 $ 84,450