Cash Flow

v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income (loss) $ 2,031,887 $ (289,996)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 1,308,515 1,181,661
Net loss on disposition or impairment 116,775 594,934
Net franchise fees recognized upon termination of franchise agreements (89,007) (186,850)
Bargain purchase gain (19,298) (30,455)
Deferred income taxes (1,449) (136,434)
Stock based compensation expense 536,744 469,405
Changes in operating assets and liabilities:    
Accounts receivable (533,149) (225,760)
Prepaid expenses and other current assets (172,845) (159,891)
Deferred franchise costs (884,895) (510,266)
Deposits and other assets 425,851 45,601
Accounts payable 223,210 (225,839)
Accrued expenses (48,637) 14,628
Payroll liabilities (75,122) 421,006
Other liabilities (261,567) (109,368)
Deferred revenue 2,148,195 1,036,037
Net cash provided by operating activities 4,705,208 1,888,413
Cash flows from investing activities:    
Acquisition of business, net of cash acquired (3,072,332) (100,000)
Purchase of property and equipment (2,312,257) (531,162)
Reacquisition and termination of regional developer rights (681,500) (278,250)
Payments received on notes receivable 110,605 210,642
Net cash used in investing activities (5,955,484) (698,770)
Cash flows from financing activities:    
Payments of finance lease obligation (16,259)
Purchases of treasury stock under employee stock plans (20,184) (4,811)
Proceeds from exercise of stock options 527,760 291,532
Repayments on notes payable (100,000)
Net cash provided by financing activities 391,317 286,721
(Decrease) Increase in cash (858,959) 1,476,364
Cash and restricted cash, beginning of period 8,854,952 4,320,040
Cash and restricted cash, end of period $ 7,995,993 $ 5,796,404

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