Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

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 $ 801,430 $ 946,979
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 388,316 1,403,906
Net loss on disposition or impairment (non-cash portion) 1,301,696 362,103
Net franchise fees recognized upon termination of franchise agreements (100,118) (39,456)
Deferred income taxes 0 71,027
Stock-based compensation expense 293,941 493,395
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 1,462,554 453,124
Prepaid expenses and other current assets (2,017,426) (487,954)
Deferred franchise costs 173,864 201,718
Deposits and other assets 15,914 (7,349)
Assets and liabilities held for sale, net 0 (911,166)
Accounts payable (481,554) (348,824)
Accrued expenses (2,989,008) 996
Payroll liabilities (1,075,561) 1,025,270
Operating leases (1,278,637) 0
Deferred revenue (245,129) (102,277)
Upfront regional developer fees (73,230) (100,940)
Other liabilities 122,294 (150,222)
Net cash (used in) provided by operating activities (3,700,654) 2,810,330
Cash flows from investing activities:    
Proceeds from sale of clinics 40,100 50,100
Purchase of property and equipment (331,505) (395,046)
Net cash used in investing activities (291,405) (344,946)
Cash flows from financing activities:    
Payments of finance lease obligation (4,354) (6,272)
Purchases of treasury stock under employee stock plans (8,440) (6,562)
Proceeds from exercise of stock options 905,976 0
Repayment of debt under the Credit Agreement 0 (2,000,000)
Net cash provided by (used in) financing activities 893,182 (2,012,834)
Increase (decrease) in cash, cash equivalents and restricted cash (3,098,877) 452,550
Cash, cash equivalents and restricted cash, beginning of period 25,996,436 19,214,292
Cash, cash equivalents and restricted cash, end of period 22,897,559 19,666,842
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 21,918,175 18,742,884
Restricted cash 979,384 923,958
Cash, cash equivalents and restricted cash, end of period 22,897,559 19,666,842
Net cash paid (received) for:    
Interest 12,500 19,098
Income taxes (57,000) 0
Non-cash investing and financing activity:    
Unpaid purchases of property and equipment $ 0 $ 4,934