Cash Flow

v3.19.1
Condensed Consolidated Statement of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss $ (490,735) $ (754,104)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 3,165 931
Amortization of intangible assets 36,281 147,316
Interest income on short-term investment (4)
Stock-based compensation 162,493 79,989
Changes in operating assets and liabilities:    
Accounts receivable (1,210,288) 1,576,243
Cost and estimated earnings in excess of billings on uncompleted contracts 247,901 59,763
Prepaid expenses and other current assets 205,641 (442,192)
Accounts payable and accrued expenses (317,983) (542,879)
Billings in excess of costs and estimated earnings on uncompleted contracts 245,594 (509,846)
Net cash used in operating activities (1,117,931) (384,783)
Cash flows provided by investing activities:    
Proceeds from short-term investment 30,037
Purchase of property, plant and equipment (3,184)
Net cash used in investing activities 26,853
Cash flows from financing activities:    
Net cash provided by financing activities
Net increase (decrease) in cash and cash equivalents (1,117,931) (357,930)
Cash and cash equivalents - beginning of period 1,368,395 1,368,395
Cash and cash equivalents - end of period 250,464 4,512,894
Supplemental disclosure of non-cash investing and financing activities:    
Non cash conversion of salary liability to restricted stock units $ 54,315

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