Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ (677,541) $ (3,418,632)
cash provided by (used by) operating activities:    
Depreciation and amortization 27,656 23,113
Non-cash amortization on right of use assets 82,609 55,493
PPP loan forgiven (452,348) 0
EIDL grant forgiven (10,000) 0
(Gain) loss on equipment disposal (67) (2,200)
Bad debt expense 50,983 808,241
Amortization of discount on investment in account receivable (87,694) (79,994)
Change in accrued interest income (3,917) (8,015)
(Gain) loss on investment in securities, at fair value 10,292 76,395
(Gain) loss on long-term investments 4,669 0
Impairment of G Farma investments 0 1,688,825
Impairment of investment in installment receivable 139,148 0
Decrease (increase) in operating assets    
Finance lease receivable 318,402 26,801
Deposits on equipment 0 27,231
Accounts receivable - trade (18,145) (127,337)
Prepaid expenses and other current assets 41,226 644
Employee advances 3,371 (417)
Increase (decrease) in operating liabilities    
Accounts payable (55,307) 6,665
Accrued expenses 47,378 (141,804)
Deferred revenue (6,455) (15,525)
Accrued salary, retirement and benefits - related party 28,896 81,320
Net cash provided by (used by) operating activities (556,844) (999,196)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investment securities (83,536) 0
Proceeds from securities sold 38,418 286,190
Advances on notes receivable 0 (31,000)
Proceeds from notes receivable 0 7,298
Purchase of contractual interest in legal recovery (35,334) (146,195)
Purchases of property and equipment (52,177) (11,765)
Proceeds from sale of property and equipment 835 2,200
Down payment on right of use assets (25,254) (24,032)
Proceeds from investment in receivable 4,000 230,000
Net cash provided by (used by) investing activities (153,048) 312,696
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from paycheck protection program loans 459,842 0
Payments on paycheck protection program loans (551) 0
Proceeds from EIDL loan 149,900 0
Proceeds from EIDL grant 10,000 0
Proceeds from related party loan 20,000 0
Payments on short term loan from related party (27,472) (12,528)
Payments on long-term debt (24,017) (54,204)
Payments on finance lease liability (58,247) (28,207)
Non-controlling interest distribution 0 (2,524)
Net cash provided by (used by) financing activities 529,455 (97,463)
Net change in cash (180,437) (783,963)
Beginning cash 686,611 1,470,574
Ending cash 506,174 686,611
SUPPLEMENTARY INFORMATION:    
Cash paid for interest 30,087 22,975
Cash paid for income taxes 10,610 18,948
NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Right of use assets acquired through operating lease liability 0 541,865
Right of use assets acquired through finance lease liability 174,656 182,301
Property and equipment acquired via long-term debt $ 81,812 $ 0