Cash Flow

v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income and comprehensive income $ 952,644 $ (31,614)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 365,678 387,417
(Gain) loss on sale of fixed assets 105,193 388
Bargain purchase gain (19,298)
Deferred income taxes (22,425) (79,243)
Stock based compensation expense 171,771 207,641
Changes in operating assets and liabilties:    
Accounts receivable (241,850) 84,693
Prepaid expenses and other current assets 51,560 (191,160)
Deferred franchise costs (189,722) (133,551)
Deposits and other assets 268,974 17,595
Accounts payable (276,074) (133,010)
Accrued expenses (117,795) 110,853
Payroll liabilities (1,151,652) (20,511)
Other liabilities (206,709) 23,723
Deferred revenue 769,216 (276,324)
Net cash provided by (used in) operating activities 459,511 (33,103)
Cash flows from investing activities:    
Acquisition of business, net of cash acquired (30,000)
Purchase of property and equipment (526,027) (183,734)
Reacquisition and termination of regional developer rights (681,500)
Payments received on notes receivable 35,954 41,391
Net cash used in investing activities (1,201,573) (142,343)
Cash flows from financing activities:    
Payments of finance lease obligation (5,285)
Proceeds from exercise of stock options 189,886 23,325
Repayments on notes payable (100,000)
Net cash provided by financing activities 84,601 23,325
Decrease in cash (657,461) (152,121)
Cash and restricted cash, beginning of period 8,854,952 4,320,040
Cash and restricted cash, end of period $ 8,197,491 $ 4,167,919

Source