Cash Flow

v3.22.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net (loss) income $ (205,797) $ 2,314,287
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 1,629,176 1,169,866
Net loss on disposition or impairment (non-cash portion) 6,906 99,022
Net franchise fees recognized upon termination of franchise agreements 0 (69,702)
Deferred income taxes (16,776) (418,810)
Stock based compensation expense 323,556 246,494
Changes in operating assets and liabilities:    
Accounts receivable 88,008 (442,008)
Prepaid expenses and other current assets (144,644) (384,377)
Deferred franchise costs (86,692) (204,112)
Deposits and other assets (94,878) (3,313)
Accounts payable 59,461 (443,463)
Accrued expenses (164,751) 60,493
Payroll liabilities (1,522,340) (217,020)
Deferred revenue 296,487 329,383
Other liabilities 280,162 234,708
Net cash provided by operating activities 447,878 2,271,448
Cash flows from investing activities:    
Purchase of property and equipment (1,289,943) (951,641)
Reacquisition and termination of regional developer rights (250,000) (1,388,700)
Net cash used in investing activities (1,539,943) (2,340,341)
Cash flows from financing activities:    
Payments of finance lease obligation (21,387) (18,238)
Purchases of treasury stock under employee stock plans (2,598) (618,154)
Proceeds from exercise of stock options 49,623 620,776
Repayment of debt under the Paycheck Protection Program 0 (2,727,970)
Net cash provided by (used in) financing activities 25,638 (2,743,586)
Decrease in cash, cash equivalents and restricted cash (1,066,427) (2,812,479)
Cash, cash equivalents and restricted cash, beginning of period 19,912,338 20,819,629
Cash, cash equivalents and restricted cash, end of period 18,845,911 18,007,150
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 18,251,194 17,834,526
Restricted cash 594,717 172,624
Cash and cash equivalents and restricted cash $ 18,845,911 $ 18,007,150

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