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 ($)
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net Income (Loss) $ (40,473) $ 52,538
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 241,658 224,806
Stock-based compensation 33,048 2,175
Changes in Assets and Liabilities:    
Accounts receivable (145,521) 49,257
Prepaid expenses and other current assets (29,657) 87,626
Right of use asset 20,067 (340,522)
Accounts payable and accrued expenses 123,890 (172,651)
Deferred revenue 113,901 (3,016)
Operating lease liability (19,193) 327,552
Net Cash Provided by Operating Activities 297,720 227,765
Cash Flows from Investing Activities:    
Capital expenditures (56,812) (17,570)
Net Cash Used in Investing Activities (56,812) (17,570)
Cash Flows from Financing Activities:    
Repayments of capital lease obligations (169,711) (183,590)
Cash received for the exercised of options 5,400
Repayment of line of credit (74,976)
Net Cash Used in Financing Activities (239,287) (183,590)
Increase in Cash and Cash Equivalents 1,621 26,605
Cash and Cash Equivalents, Beginning of Period 326,561 228,790
Cash and Cash Equivalents, End of Period 328,182 255,395
Supplemental Disclosures:    
Cash paid for interest 177,451 50,621
Cash paid for income taxes
Non-cash investing and financing activities:    
Accrual of preferred stock dividend 34,186 31,078
Assets acquired by finance lease $ 336,165 $ 1,502,844