Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (366,925) $ (256,466)
Adjustments to reconcile net income (loss) to net cash provided by (used by) operating activities:    
Depreciation and amortization 71,257 51,710
Amortization of right of use asset 218,821 147,092
PPP loans forgiven (86,593)
EIDL grant forgiven
(Gain) loss on equipment disposal (26,168) (86)
Bad debt expense 53,000 19,580
Amortization of discount on investment in account receivable (56,806) (65,657)
Change in accrued interest income 86,325 (4,287)
(Gain) loss on investment in securities, at fair value (833) (842)
(Gain) loss on long-term investments 110,772 (175)
Increase in deposits (16,000)
(Gain) loss on investment in installment receivable (22,718)
Decrease (increase) in operating assets    
Finance lease receivable 306,650 69,301
Accounts receivable - trade 19,640 (217,712)
Other receivables (197,100) (33,222)
Prepaid expenses and other current assets (20,231) 3,555
Employee advances (1,567) (2,700)
Increase (decrease) in operating liabilities    
Accounts payable (9,186) 22,465
Accrued expenses (10,675) 170,443
Deferred revenue (16,308) 110
Accrued salary, retirement, and benefits - related party 26,083 (9,469)
Net cash provided by (used by) operating activities 172,415 (215,671)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investment securities (38,471)
Proceeds from securities sold 176 73,130
Purchase of contractual interest in legal recovery 396,666 (15,137)
Purchases of property and equipment (40,609) (62,665)
Proceeds from sale of property and equipment 91,881
Down payment on right of use assets (42,675) (60,475)
Proceeds from investment in receivable 42,930 117,000
Net cash provided by (used by) investing activities 356,488 105,263
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from paycheck protection program loans 76,593
Payments on paycheck protection program loans
Proceeds from EIDL loan
Proceeds from EIDL grant
Proceeds from related party loan 50,000 200,000
Payments on short term loan from related party (21,950)
Proceeds from warrants converted to common stock 14,347
Payments on long-term debt (28,476) (90,640)
Payments on finance lease liability (206,833) (127,780)
Net cash provided by (used by) financing activities (192,912) 58,173
Net change in cash 335,991 (52,235)
Beginning cash 453,939 506,174
Ending cash 789,930 453,939
SUPPLEMENTARY INFORMATION:    
Cash paid for interest 302,312 47,128
Cash paid for income taxes 15,663 9,940
NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Right of use assets acquired through operating lease liability
Right of use assets acquired through finance lease liability 431,762 440,258
Property and equipment acquired via long-term debt $ 22,480 $ 98,700