SharpSpring, Inc. SHSP Cash Flow

Sharpspring, inc. (SHSP)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net loss
-988,077	-2,728,829	-2,527,112	-4,238,192	-2,893,843	-2,250,414	-2,710,232	-2,466,234	-2,051,942	-435,801	-1,582,040	-1,272,722	-1,379,272	-2,188,332	-1,223,857	9,073,297	-710,098	-	-	-	-1,170,028	-1,117,924	-97,828	151,168	223,372	342,370	319,587	385,436	225,570	310,697	313,854	240,231	204,825	201,248	344,095	202,928	157,361
Deduct: Income from discontinued operations, net of income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	479,534	0	9,721,452	465,999	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-2,667,866	-1,223,857	-648,155	-1,176,097	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Adjustments to reconcile loss from operations:
Depreciation and amortization
356,579	282,250	256,355	244,265	227,253	260,101	240,416	200,733	190,983	204,794	204,198	201,976	196,606	1,809,755	355,026	298,526	515,491	396,305	402,082	373,650	425,995	307,465	57,102	30,024	30,110	46,106	19,930	18,690	17,587	12,183	9,384	9,226	2,116	2,115	2,108	1,340	658
Amortization of costs to acquire contracts
202,439	173,965	199,058	228,812	202,945	200,296	194,479	185,701	177,538	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash stock compensation
370,632	354,313	284,308	262,075	303,517	253,797	234,658	238,806	237,415	209,341	199,685	175,406	184,346	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-employee stock issuance expense
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from share-based payments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-17,421	0	489	83,775	49,984	0	23,996	-3,171	-	-	-	-	-	-	-	-
Excess tax benefits from share-based payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Non-cash stock compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	205,886	163,935	159,842	175,986	204,321	205,102	231,572	201,868	197,414	165,889	131,379	156,052	86,564	209,016	34,115	247,127	151,954	50,314	36,242	30,028	11,790	11,790	12,381	87,394
Deferred income taxes
-	-	-	-	-	-14,229	-45,625	-129,061	20,796	-19,157	25,960	28,373	-29,558	250,731	0	-75,324	-7,650	837,033	1,861	139	3,655	-450,107	-93,621	-43,109	-31,015	8,857	4,047	-12,495	-23,310	-	-	-	-	-	-	-	-
Gain on disposal of property and equipment
-	-	-	-	-	-4,700	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash interest
0	0	0	39,372	100,000	100,000	100,000	100,000	4,301	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt issuance costs and embedded derivative
0	0	0	4,903	-2,000	-19,079	6,359	6,358	274	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on embedded derivative
0	0	0	189,776	24,574	25,934	27,295	-453,449	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-120,225	-7,783	-970	0	0	0	-2,491	0	-10,172	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Allowance for refunds and chargebacks
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	732	-375	-523	-	-9,782	3,378	0	-	-	-	-	-	-	-	-
Non-cash change in value of earn out liability
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	99,000	120,473	-85,748	270,625	1,667,332	704,000	682,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash gain from escrow claim
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-84,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized foreign currency loss
-80,727	-18,045	26,344	27,865	-10,739	-1,047	122,474	217,309	-49,397	-123,115	72,091	14,120	-33,865	26,325	77,163	21,449	60,477	-109,142	-43,069	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Allowance for refunds and chargebacks
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-65	-62	-1,089	-10,993	1,098	1,348	3,511
Deferred Income Taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-15,245	-21,813	52,436	-50,872	-4,813	23,851	-17,992
Changes in assets and liabilities:
Accounts receivable
85,272	-189,203	10,280	-10,846	-14,448	-36,357	-1,251	52,506	-11,002	47,156	112,756	290,511	214,873	197,914	258,588	92,052	-49,038	188,047	120,229	26,969	93,519	118,144	40,447	-19,194	13,659	-22,074	-16,310	12,128	13,128	-18,808	24,775	-18,696	46,655	-3,482	-11,746	-176	4,053
Unbilled receivables
92,496	-65,979	-50,189	-232,591	93,772	-43,530	-49,419	-20,403	-73,894	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right-of-use assets
405,719	110,800	109,247	320,148	-106,215	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
342,872	-90,308	-330,498	-459,131	42,855	-324,075	-321,026	-242,053	-210,529	-592,065	-167,592	73,870	-40,440	-123,926	79,019	170,681	84,941	-42,857	6,145	22,781	32,665	-285,075	36,690	21,449	-27,802	21,912	54,795	-2,711	-23,567	-	-	-	-	-	-	-	-
Income taxes, net
1,562,944	28,759	-2,291	-26,223	-2,339	-83,644	211,913	1,734,309	104,070	-425,474	-182,483	-422,520	-75,294	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24,467	10,619	9,087	-12,334	16,249	30,136	-36,259
Income taxes, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-310,945	19,419	854,558	-395,402	-458,794	-445,507	-	-	-	-	149,240	-4,786	95,259	-67,214	27,921	16,773	-142,188	-283,346	189,682	188,514	80,435	-100,306
Accounts payable
890,013	435,137	82,721	195,810	-274,640	424,807	104,778	-186,806	751,502	-389,329	289,284	-78,286	155,471	-276,741	173,658	-99,121	46,123	156,576	148,287	-39,073	-26,833	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease liabilities
421,089	-96,621	-95,068	-93,540	-92,035	-27,784	59,371	-31,587	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
-394,239	-355,841	50,661	-18,020	-69,280	162,984	0	61,837	-61,837	66,409	130,110	-412,397	-41,091	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes receivable and payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-233,539	-35,085	-244,838	-	-	-	-	-	-	-	-	-	-	-	-
Accrued expenses and other current liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-127,393	25,849	56,586	95,049	43,641	-123,789	-262,478	212,195	9,494	3,693	-8,620	-32,071	-18,564	30,943	-8,654	17,695	36,338	-89,977	147,267	645	-46,810	-99,797
Deferred revenue
-94,289	162,414	193,379	26,027	39,585	-87,255	19,062	20,287	20,623	4,298	24,894	-37,648	-339	-18,249	-191,053	-24,502	-12,917	30,091	-43,635	-57,213	-20,946	185,569	50,377	5,103	33,634	13,940	-30	-9,076	-21,565	-13,541	-1,287	7,749	22,713	-5,617	-7,528	29,987	21,425
Net cash used in operating activities - Continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-3,242,101	-3,614,063	-1,004,471	-472,733	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities - Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	479,534	0	322,762	463,068	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in operating activities
-1,644,429	-1,997,188	-1,792,805	-1,751,191	-2,485,958	-1,516,063	-1,352,777	195,151	-951,099	-895,348	-869,656	-1,439,317	-848,563	-2,762,567	-3,614,063	-681,709	-9,665	-117,848	-627,332	-177,989	-575,278	86,136	-5,658	245,855	100,853	621,129	441,336	463,330	422,748	451,393	342,311	173,924	-115,858	505,994	540,412	374,825	20,048
Cash flows from investing activities:
Purchases of property and equipment
140,930	302,796	450,148	442,128	169,976	497,733	208,035	115,298	72,820	28,555	15,224	49,544	83,787	13,275	290,950	61,610	89,671	183,448	85,353	86,783	100,928	15,976	48,672	2,116	0	24,735	20,792	0	241,948	11,250	10,462	2,494	0	-	-	-	-
Capitalization of software development costs
272,282	-	-	-	177,198	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	250,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities - Continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-189,675	-112,714	-155,922	-721,873	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by investing activities - Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	13,974,997	-29,449	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions of customer assets from resellers
-	-	-	-	-	-	-	-	-	0	0	61,152	3,116	176,400	71,764	94,312	382,202	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-413,212	-4,869,198	-450,148	-264,313	-347,174	-493,033	-208,035	-115,298	-72,820	-28,555	-15,224	889,304	-86,903	-189,675	-112,714	13,819,075	-751,322	-193,722	-109,008	-222,073	-100,928	-2,470,262	-4,969,859	-2,116	0	-24,735	-20,792	0	-241,948	-11,250	-10,462	-2,494	0	-	-	-	-
Cash flows from financing activities:
Proceeds from line of credit
1,900,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of convertible note
-	-	-	-	-	0	0	0	8,000,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs
-	-	-	-	-	0	0	0	141,657	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends to shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	653,616	602,562	601,767	601,766	375,166	347,387	267,381	266,002	-	-	-	-	-	-	-	-
Payment to reduce earn out
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,000,000	207,929	0	0	2,000,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
11,174	42,636	19,733	302,752	603,865	147,128	207,454	233,250	8,555	3,274	17,500	1,359	0	11,092	0	0	1,125	0	60,302	77,701	3,438	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends to shareholder
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	220,550	2,103,137	0	-	-	-	-
Proceeds from issuance of common stock, net
0	4,938,985	0	-23,439	10,672,444	0	0	0	0	-	-	-	-	-	-	-	0	-	-	-	-	373	0	374	10,507,427	193,352	254,325	20,000	3,624	15,000	0	516,438	0	0	0	0	96,816
Payments for taxes related to net share settlement of equity awards
26,533	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from share-based payments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,458	0	408	72,893	49,984	0	20,825	0	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities - Continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	10,670	0	-1,000,000	-206,804	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities - Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
1,884,641	4,981,621	19,733	279,313	11,276,309	147,128	207,454	233,250	7,866,898	3,274	17,500	1,359	0	10,670	0	-1,000,000	-206,804	1,247	3,415,322	54,704	3,438	-659,701	-602,562	-600,985	9,978,554	-131,830	-93,062	-226,556	-262,378	-215,123	-220,550	-1,586,699	0	0	0	0	96,816
Effect of exchange rate on cash
-83,900	12,772	-20,504	-18,901	-11,285	-950	635	-35,765	16,443	3,493	-18,632	22,630	13,011	-23,228	7,588	-5,284	12,426	-11,117	-16,448	6,410	3,748	-5,978	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Change in cash and cash equivalents
-256,900	-1,871,993	-2,243,724	-1,755,092	8,431,892	-1,862,918	-1,352,723	277,338	6,859,422	-917,136	-886,012	-526,024	-922,455	-2,964,800	-3,719,189	12,132,082	-955,365	-321,440	2,662,534	-338,948	-669,020	-3,049,805	-5,578,079	-357,246	10,079,407	464,564	327,482	236,774	-81,578	225,020	111,299	-1,415,269	-115,858	505,994	538,288	226,600	116,864
Supplemental information on consolidated statements of cash flows:
Cash paid during the period for interest
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash (received) paid for income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	28,972	32,694	59,273	4,000	34,325	-	-	163,000	455,500	163,000	160,000	150,000	235,000	114,169	155,831	-122	348,122	0	50,000	30,000	279,362
Cash paid during the period for income taxes, net
426	0	11,013	0	0	6,151	-122,956	-1,900,088	-82,869	-	44,055	0	54,582	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash activities
Right-of-use asset obtained for lease liability
521,898	0	0	0	5,715,510	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receipt of common stock for escrow claim
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	84,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of common stock for GraphicMail earn out
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-207,929	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of common stock for GraphicMail earn out
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-