Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.24.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ 3,157,658 $ (366,925)
Less net income from discontinued operations (77,899) (245,185)
Adjustments to reconcile net income (loss) to net cash provided by (used by) operating activities:    
Depreciation and amortization 1,706 2,079
Bad debt expense 10,198
Amortization of discount on investment in account receivable (41,741) (56,806)
Change in accrued interest income 86,325
Gain on sale of discontinued operation (4,805,389)
(Gain) loss on investment in securities at fair value 2,484 833
(Gain) loss on long-term investments 110,772
Decrease (increase) in operating assets    
Finance lease receivable 306,650
Accounts receivable - trade (11,398)
Other receivables (15,000)
Prepaid expenses and other current assets 2,867
Increase (decrease) in operating liabilities    
Accounts payable (4,383) 1,481
Accrued expenses 72,089 (173,669)
Deferred revenue (16,308)
Accrued salary, retirement, and benefits - related party (717,436) 26,083
Net cash provided by (used by) operating activities (2,426,244) (324,670)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investment securities (649,847)
Proceeds from securities sold 176
Sale of investment of discontinued operation 6,000,000
Adjustment on sale of discontinued operation 129,532
Increase in long-term investments (10,000)
Purchase of contractual interest in legal recovery 396,666
Purchases of property and equipment (2,291)
Proceeds from investment in receivable 118,201 42,930
Net cash provided by (used by) investing activities 5,585,595 439,772
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from warrants converted to common stock 40,000 14,347
Payments on repurchase of stock (7,884)
Increase in notes receivable (1,000,000)
Paid in capital adjustment - note receivable reduction (1,016,879)
Net cash provided by (used by) financing activities (1,984,763) 14,347
Net change in cash – continued operations 1,174,588 129,449
Operating cash flow - discontinued operations 408,928 497,086
Investing activities - discontinued operations 1,480,861 (83,284)
Financing activities - discontinued operations (1,423,008) (207,260)
Net change in cash 1,641,369 335,991
Cash beginning of period - continued operations 283,431 192,475
Cash beginning of period - discontinued operations 506,499 261,464
Beginning cash 789,930 453,939
Cash - end of period 2,431,299 789,930
Less cash of discontinued operations (506,499)
Ending cash 2,431,299 283,431
SUPPLEMENTARY INFORMATION:    
Cash paid for interest – all operations 64,685 302,312
Less Cash paid for interest - discontinued operations (29,992) (42,483)
Cash paid for interest – continued operations 34,693 259,829
Cash paid for income taxes – all operations 15,304 15,663
Less Cash paid for income taxes – discontinued operations (5,784) (7,615)
Cash paid for income taxes – continued operations 9,520 8,048
Right of use assets acquired through operating lease liability - all operations
Right of use assets acquired through finance lease liability - all operations 431,762
Less right of use assets acquired through finance lease liability - discontinued operations (431,762)
Right of use assets acquired through finance lease liability - continued operations
Property and equipment acquired via long-term debt - all operations 22,480
Less Property and equipment acquired via long-term debt - all operations (22,480)
Property and equipment acquired via long-term debt - continued operations