| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||
Net (loss) income | |||||||||
6,794,226 | 262,432 | -486,469 | 3,436,399 | 374,305 | 192,901 | 322,548 | -1,235,170 | 2,708,931 | -568,505 |
Income from discontinued operations | |||||||||
8,262,090 | 1,184,005 | - | - | - | - | - | - | - | - |
Loss from continuing operations | |||||||||
-1,467,864 | -921,573 | - | - | - | - | - | - | - | - |
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities: | |||||||||
Adjustments to reconcile net (loss) income to net cash used in operating activities: | |||||||||
Gain on sale of Beerrun | |||||||||
- | - | - | - | 134,000 | 0 | - | - | - | - |
Deferred income taxes | |||||||||
455,006 | 281,212 | -1,051,902 | 2,214,902 | 162,000 | -82,000 | - | - | - | - |
Deferred income taxes | |||||||||
- | - | - | - | - | - | -120,000 | 0 | - | - |
Depreciation and amortization | |||||||||
338,103 | 326,285 | 255,362 | 232,316 | 165,597 | 120,299 | 105,330 | 92,037 | 97,011 | 82,879 |
Amortization of intangibles | |||||||||
381,933 | 322,126 | 364,934 | 452,344 | 319,495 | 244,274 | 196,633 | 103,523 | 0 | - |
Amortization of right of use assets | |||||||||
212,164 | 0 | - | - | - | - | - | - | - | - |
Gain on revaluation of derivative | |||||||||
- | - | - | - | - | - | - | - | 362,035 | -483,081 |
Amortization of debt discount | |||||||||
- | - | - | - | - | - | - | 4,250 | 69,637 | - |
Bad debt expense | |||||||||
139,270 | 96,024 | 44,147 | 0 | 250,000 | 45,000 | 0 | 39,000 | 0 | -120,000 |
Share-based compensation | |||||||||
16,910 | 28,000 | 34,265 | 42,795 | 40,860 | 130,253 | 17,616 | 1,136,258 | - | - |
Impairment of intangible asset | |||||||||
236,860 | 0 | - | - | - | - | - | - | - | - |
Gain on extinguishment of debt and derivative liability | |||||||||
- | - | - | - | - | - | - | - | 2,228,939 | - |
Gain from bargain purchase | |||||||||
- | - | - | - | - | - | - | 17,932 | 0 | - |
Common stock for services | |||||||||
- | - | 47,500 | 0 | 36,300 | 69,503 | 21,000 | 35,000 | - | - |
Share-based compensation | |||||||||
- | - | - | - | - | - | - | - | 0 | - |
Common stock for services | |||||||||
0 | 45,307 | 19,923 | 0 | 20,000 | 0 | 28,528 | 105,080 | 0 | 186,252 |
Changes in assets and liabilities: | |||||||||
Common stock issued in exchange for services | |||||||||
- | - | - | - | - | - | - | - | 80,550 | - |
Return of shares for services not rendered | |||||||||
- | - | - | - | - | - | - | - | 65,000 | - |
Accounts receivable | |||||||||
605,611 | -61,748 | -120,993 | 24,320 | 269,658 | 567,458 | 65,464 | 667,315 | 391,937 | 199,629 |
Unbilled services | |||||||||
16,888 | -170,894 | -35,355 | - | - | - | - | - | - | - |
Unbilled services | |||||||||
- | - | - | -277,980 | 501,174 | 140,000 | 90,000 | - | - | - |
Inventory | |||||||||
- | - | - | - | - | - | - | - | - | -15,285 |
Prepaid expenses and other current assets | |||||||||
21,707 | 76,859 | 72,817 | -112,525 | 135,518 | 126,503 | -62,244 | -22,240 | -21,382 | -66,594 |
Deposits and other assets | |||||||||
152,368 | -3,757 | 7,425 | -1,002 | -836 | 3,889 | 840 | -35,925 | -5,937 | - |
Accounts payable | |||||||||
182,400 | -66,078 | 272,226 | 227,970 | -175,295 | 233,822 | -27,426 | - | - | - |
Accrued expenses | |||||||||
-232,808 | 468,410 | 247,924 | 2,005 | 27,429 | 138,436 | -64,527 | - | - | - |
Income tax payable | |||||||||
132,350 | -77,097 | -80,369 | -72,818 | 174,284 | 76,000 | 0 | - | - | - |
Accounts payable and accrued expenses and due to related party | |||||||||
- | - | - | - | - | - | - | 693,137 | 362,749 | 68,189 |
Accrued interest | |||||||||
750 | 750 | 750 | 716 | 102 | 1,424 | 869 | 4,747 | 25,929 | 103,026 |
Deferred revenues | |||||||||
620,365 | -367,968 | 460,624 | - | - | - | - | - | - | - |
Operating lease obligations | |||||||||
212,160 | 0 | - | - | - | - | - | - | - | - |
Net cash used in operating activities of continuing operations | |||||||||
-903,307 | -267,486 | - | - | - | - | - | - | - | - |
Due to related parties | |||||||||
- | - | - | - | - | -2,672 | -3,270 | -393 | 51,960 | 269,871 |
Deferred revenues | |||||||||
- | - | - | -679,852 | 95,096 | 499,559 | 357,755 | 42,416 | 529,731 | 305,442 |
Net cash used in operating activities | |||||||||
- | - | 2,308,825 | 1,794,160 | 126,659 | 992,949 | 740,996 | 392,803 | 905,906 | -38,177 |
Cash flows from investing activities: | |||||||||
Software development costs | |||||||||
- | - | - | - | - | - | - | 198,591 | 0 | - |
Purchase of property and equipment | |||||||||
70,672 | 146,001 | 241,230 | 184,802 | 67,483 | 81,116 | 30,364 | 103,819 | 40,653 | 31,725 |
Acquisition of customer list | |||||||||
- | - | 60,000 | - | - | - | - | - | - | - |
Acquisition of business | |||||||||
60,000 | 300,000 | 0 | - | 709,893 | 0 | - | 441,964 | 0 | - |
Proceeds from sale of EDI practice, net of fees and taxes | |||||||||
8,365,192 | 0 | - | - | - | - | - | - | - | - |
Proceeds from sale of Beerrun | |||||||||
- | - | - | - | 134,000 | 0 | - | - | - | - |
Software development costs | |||||||||
81,730 | 251,821 | 514,280 | 311,917 | 0 | 71,875 | 0 | - | - | - |
Net cash provided by (used in) investing activities of continuing operations | |||||||||
8,152,790 | -697,822 | - | - | - | - | - | - | - | - |
Net cash used in investing activities | |||||||||
- | - | -815,510 | -496,719 | -643,376 | -152,991 | -30,364 | -744,374 | -40,653 | -31,725 |
Cash flows from financing activities: | |||||||||
Payment of cash dividend | |||||||||
225,038 | 0 | 359,014 | 264,699 | 0 | - | - | - | - | - |
Payment of contingent consideration | |||||||||
-22,548 | -83,087 | - | - | - | - | - | - | - | - |
Payment for repurchase of common stock | |||||||||
0 | 3,661 | 0 | - | - | - | - | - | - | - |
Proceeds from issuance of preferred stock | |||||||||
- | - | - | 100 | 0 | - | - | - | - | - |
Repayment of notes payable to related parties | |||||||||
- | - | - | - | - | 20,000 | 0 | 7,054 | 25,000 | - |
Proceeds from issuance of common stock and warrants, net of fees | |||||||||
- | - | - | - | 812,023 | 0 | - | - | - | - |
Payment of contingent consideration | |||||||||
- | - | 106,079 | 188,933 | 49,980 | 0 | - | - | - | - |
Repayment of line of credit, net | |||||||||
- | - | - | - | - | - | -178,633 | 178,633 | - | - |
Proceeds from line of credit | |||||||||
- | - | - | - | - | - | - | - | 0 | - |
Proceed from term loan | |||||||||
- | - | - | - | - | - | 350,000 | - | - | - |
Payment of long term debt | |||||||||
206,760 | 213,307 | 306,678 | 300,033 | 274,321 | 212,013 | 70,483 | - | - | - |
Repayment of notes payable to related parties | |||||||||
- | - | - | - | - | - | - | - | - | 125,716 |
Proceeds from notes payable to related party | |||||||||
- | - | - | - | - | - | - | - | - | 45,000 |
Proceeds from convertible promissory note related party | |||||||||
- | - | - | - | - | - | - | - | 51,000 | - |
Proceed from term loan | |||||||||
- | - | - | - | - | - | - | 0 | 550,000 | - |
Repayment of term loan | |||||||||
- | - | - | - | - | - | - | 0 | 550,000 | - |
Payment of long term convertible debt | |||||||||
271,622 | 133,690 | - | - | - | - | - | - | 735,000 | - |
Payment of finance lease obligations | |||||||||
144,202 | 131,762 | - | - | - | - | - | - | - | - |
Principal payment under capital lease obligations | |||||||||
- | - | 107,246 | 116,140 | 86,029 | 62,500 | 53,107 | 49,247 | 26,875 | 45,520 |
Net cash used in financing activities of continuing operations | |||||||||
-870,170 | -565,507 | -879,017 | -869,705 | 401,693 | -294,513 | 47,777 | 122,332 | -735,875 | -126,236 |
Cash flows from discontinued operations | |||||||||
Operating activities of discontinued operations | |||||||||
505,910 | 1,562,048 | - | - | - | - | - | - | - | - |
Investing activities of discontinued operations | |||||||||
-127,679 | -365,723 | - | - | - | - | - | - | - | - |
Net cash provided by discontinued operations | |||||||||
378,231 | 1,196,325 | - | - | - | - | - | - | - | - |
Net decrease in cash | |||||||||
6,757,544 | -334,490 | - | - | - | - | - | - | - | - |
Net decrease in cash | |||||||||
- | - | 614,298 | 427,736 | -115,024 | 545,445 | 758,409 | -229,239 | 129,378 | -196,138 |
Cash paid during period for: | |||||||||
Interest | |||||||||
39,814 | 43,337 | 30,946 | - | - | - | - | - | - | - |
Interest | |||||||||
- | - | - | 64,462 | 60,579 | 59,780 | 69,134 | 66,776 | 15,145 | - |
Income taxes | |||||||||
1,907,382 | 217,210 | 335,398 | 100,885 | 87,732 | 70,688 | 28,596 | 0 | 0 | 0 |
Capital lease obligations | |||||||||
- | - | - | - | - | - | - | - | - | 38,776 |