Cash Flow

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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net Income $ 946,979 $ 2,326,164
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,403,906 2,215,055
Net loss on disposition or impairment (non-cash portion) 362,103 65,469
Net franchise fees recognized upon termination of franchise agreements (39,456) (73,095)
Deferred income taxes 71,027 733,390
Stock based compensation expense 493,395 266,210
Changes in operating assets and liabilities:    
Accounts receivable 453,124 385,629
Prepaid expenses and other current assets (487,954) (1,370,390)
Deferred franchise costs 201,718 (27,255)
Deposits and other assets (7,349) 801
Assets and liabilities held for sale, net (911,166) 0
Accounts payable (348,824) (1,189,662)
Accrued expenses 996 818,784
Payroll liabilities 1,025,270 1,540,498
Deferred revenue (102,277) 437,838
Upfront regional developer fees (100,940) (47,116)
Other liabilities (150,222) (57,727)
Net cash provided by operating activities 2,810,330 6,024,593
Cash flows from investing activities:    
Proceeds from sale of clinics 50,100 0
Purchase of property and equipment (395,046) (1,200,215)
Net cash used in investing activities (344,946) (1,200,215)
Cash flows from financing activities:    
Payments of finance lease obligation (6,272) (6,011)
Purchases of treasury stock under employee stock plans (6,562) (2,637)
Proceeds from exercise of stock options 0 138,457
Repayment of debt under the Credit Agreement (2,000,000) 0
Net cash provided by (used in) financing activities (2,012,834) 129,809
Increase in cash, cash equivalents and restricted cash 452,550 4,954,187
Cash, cash equivalents and restricted cash, beginning of period 19,214,292 10,550,417
Cash, cash equivalents and restricted cash, end of period 19,666,842 15,504,604
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 18,742,884 14,773,225
Restricted cash 923,958 731,379
Cash and cash equivalents and restricted cash $ 19,666,842 $ 15,504,604

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