Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities:    
Net income $ 513,072 $ 299,316
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,350,238 1,301,594
Stock based compensation 794,687 506,205
Change in expected credit losses 45,394 119,524
Loss on disposal of equipment 1,599
Changes in Assets and Liabilities:    
Accounts receivable (1,010,880) 2,123,340
Other assets (135,003)
Prepaid expenses and other current assets (347,717) 71,491
Right of use asset 135,559 163,520
Accounts payable and accrued expenses 567,930 (598,638)
Deferred revenue (123,811) 55,141
Deferred tax liability  39,031
Operating lease liability (90,010) (168,446)
Net Cash Provided by Operating Activities 1,740,089 3,873,047
Cash Flows from Investing Activities:    
Capital expenditures (1,800,364) (1,545,017)
Purchase of marketable securities (842,810) (2,307,228)
Sale of marketable securities 900,000
Net Cash Used in Investing Activities (1,743,174) (3,852,245)
Cash Flows from Financing Activities:    
Repayments of finance lease obligations related party (222,362) (520,624)
Repayments of finance lease obligations (263,600) (359,869)
Cash received for the exercise of stock options 133,005 1,699
Net Cash Used in Financing Activities (352,957) (878,794)
Effect of exchange rates on cash (2,591)
Decrease in Cash (358,633) (857,992)
Cash, Beginning of Year 1,428,730 2,286,722
Cash, End of Year 1,070,097 1,428,730
Supplemental Disclosures:    
Cash paid for interest 23,549 65,057
Cash paid for income taxes
Non-cash investing and financing activities:    
Assets acquired by operating lease $ 647,958