Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities:    
Net Income $ 222,825 $ 398,839
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 991,773 928,180
Stock-based compensation 564,800 338,145
Provision for credit losses 25,541 0
Loss on disposal of equipment 1,599 0
Changes in Assets and Liabilities:    
Accounts receivable (738,725) 1,158,493
Other assets (156,163) 0
Prepaid expenses and other current assets (247,389) (287,368)
Right of use asset 111,314 136,954
Accounts payable and accrued expenses 20,478 (348,851)
Deferred revenue (175,964) (21,518)
Operating lease liability (67,499) (141,450)
Net Cash Provided by Operating Activities 552,590 2,161,424
Cash Flows from Investing Activities:    
 Capital expenditures (1,116,008) (1,246,996)
 Purchase of marketable securities (456,573) (1,520,953)
 Sale of marketable securities 400,000 0
Net Cash Used in Investing Activities (1,172,581) (2,767,949)
Cash Flows from Financing Activities:    
Repayments of finance lease obligations related party (182,163) (392,287)
Repayments of finance lease obligations (201,590) (294,522)
Proceeds from exercise of stock options 88,732 0
Net Cash Used in Financing Activities (295,021) (686,809)
Decrease in Cash and Cash Equivalents (915,012) (1,293,334)
Cash and Cash Equivalents, Beginning of Period 1,428,730 2,286,722
Cash and Cash Equivalents, End of Period 513,718 993,388
Supplemental Disclosures:    
Cash paid for interest 18,034 48,471
Cash paid for income taxes 0 0
Non-cash investing and financing activities:    
Assets acquired by operating lease $ 647,958 $ 0