Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ 1,061,159 $ (2,649,419)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 807,730 2,927,718
Net loss on disposition or impairment (non-cash portion) 2,892,265 1,797,422
Net franchise fees recognized upon termination of franchise agreements (174,285) (73,526)
Deferred income taxes 0 124,629
Stock-based compensation expense 624,929 1,045,460
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 1,558,183 85,861
Prepaid expenses and other current assets (1,743,981) (997,307)
Deferred franchise costs 183,839 385,256
Deposits and other assets 18,332 5,196
Assets and liabilities held for sale, net 0 (1,674,226)
Accounts payable (91,075) 14,284
Accrued expenses (3,408,504) 1,198,248
Payroll liabilities (1,446,598) 786,411
Operating leases (2,719,624) 0
Deferred revenue (508,565) (631,272)
Upfront regional developer fees (145,605) (268,513)
Other liabilities 259,795 (239,348)
Net cash (used in) provided by operating activities (2,832,005) 1,836,874
Cash flows from investing activities:    
Proceeds from sale of clinics 7,778,287 224,100
Purchase of property and equipment (836,545) (657,450)
Net cash provided by (used in) investing activities 6,941,742 (433,350)
Cash flows from financing activities:    
Payments of finance lease obligation (4,354) (12,610)
Purchases of treasury stock under employee stock plans (8,440) (9,583)
Proceeds from exercise of stock options 905,976 52,098
Repayment of debt under the Credit Agreement 0 (2,000,000)
Net cash provided by (used in) financing activities 893,182 (1,970,095)
Increase (decrease) in cash, cash equivalents and restricted cash 5,002,919 (566,571)
Cash, cash equivalents and restricted cash, beginning of period 25,996,436 19,214,292
Cash, cash equivalents and restricted cash, end of period 30,999,355 18,647,721
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 29,811,667 17,457,625
Restricted cash 1,187,688 1,190,096
Cash, cash equivalents and restricted cash, end of period 30,999,355 18,647,721
Net cash paid (received) for:    
Interest 25,139 31,390
Income taxes 382,419 410,550
Non-cash investing and financing activity:    
Unpaid purchases of property and equipment $ 7,488 $ 469