Cash Flow

v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income (loss) $ 1,414,905 $ (82,453)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 770,143 792,392
Net loss on disposition or impairment of assets 86,927 251,678
Net franchise fees recognized upon termination of franchise agreements (72,450)
Bargain purchase gain (19,298) (30,455)
Deferred income taxes (4,788) (75,882)
Stock based compensation expense 350,724 346,629
Changes in operating assets and liabilities:    
Accounts receivable (227,129) (91,211)
Prepaid expenses and other current assets (5,386) (90,449)
Deferred franchise costs (707,230) (260,774)
Deposits and other assets 262,248 42,360
Accounts payable (154,542) (384,538)
Accrued expenses (134,146) 33,982
Payroll liabilities (432,742) 104,538
Other liabilities (286,054) (28,527)
Deferred revenue 1,923,148 158,370
Net cash provided by operating activities 2,836,780 613,210
Cash flows from investing activities:    
Acquisition of business, net of cash acquired (30,000) (80,000)
Purchase of property and equipment (1,567,556) (370,757)
Reacquisition and termination of regional developer rights (681,500)
Payments received on notes receivable 72,816 83,824
Net cash used in investing activities (2,206,240) (366,933)
Cash flows from financing activities:    
Payments of finance lease obligation (10,704)
Proceeds from exercise of stock options 239,644 141,607
Repayments on notes payable (100,000)
Net cash provided by financing activities 128,940 141,607
Increase in cash 759,480 387,884
Cash and restricted cash, beginning of period 8,854,952 4,320,040
Cash and restricted cash, end of period $ 9,614,432 $ 4,707,924

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