v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) $ (152,871) $ (233,957)
cash provided by (used by) operating activities:    
Depreciation and amortization 9,421 3,842
Non-cash amortization of right of use asset 29,076 17,199
PPP loan forgiven (10,000) 0
(Gain) loss on ROU asset disposal 643 0
Bad debt expense 6,170 22,069
Amortization of discount on investment in account receivable (15,228) (18,345)
Increase in accrued investment interest income (993) (957)
(Gain) loss on investment in securities, at fair value (4,849) 5,037
Gain on long-term investments 0 5,169
Decrease (increase) in operating assets    
Finance leases receivable 18,299 238,642
Accounts receivable - trade (25,681) 61,575
Prepaid expenses and other current assets (126,299) 13,585
Employee advances 850 668
Increase (decrease) in operating liabilities    
Accounts payable 29,653 (37,408)
Accrued expenses 109,116 81,239
Deferred revenue (1,625) (1,606)
Accrued salary, retirement, and benefits - related party (31,665) 7,064
Net cash provided by (used by) operating activities (165,983) 163,816
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investment securities 0 (38,115)
Purchase contractual interest in legal recovery 0 (50,717)
Purchases of property and equipment (7,859) (3,329)
Down payments on right of use assets (37,834) (9,604)
Proceeds from investment in receivable 0 4,000
Net cash (used by) investing activities (45,693) (97,765)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from related party loan 100,000 0
Proceeds from paycheck protection program loans 76,593 0
Refund of Paycheck Protection Program payments 551 0
Payments on related party payable 0 (27,472)
Payments on long-term debt (3,829) (6,361)
Payments on finance lease liabilities (23,574) (10,961)
Net cash provided by (used by) financing activities 149,741 (44,794)
Net change in cash (61,935) 21,257
Beginning cash 506,174 686,611
Ending cash 444,239 707,868
SUPPLEMENTARY INFORMATION:    
Cash paid for interest 7,889 7,337
Cash paid for income taxes 740 4,800
NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Right of use assets acquired through operating lease liability 55,624 0
Right of use assets acquired through finance lease liability $ 224,392 $ 80,779

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