Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows from Operating Activities:    
Net Income (loss) $ 368,922 $ (144,813)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 95,646 71,366
Net (gain) loss on equity method investment 9,087
Non-cash interest expense 52,299
Stock based compensation 3,102 12,140
Changes in Assets and Liabilities:    
Accounts receivable (147,312) 14,621
Other assets 3,600 (2,100)
Prepaid expenses and other current assets 6,686 5,955
Accounts payable and accrued expenses (100,978) 96,808
Deferred revenue (157,373) (43,455)
Deferred rent (108) 163
Net Cash Provided by Operating Activities 72,185 72,071
Cash Flows from Financing Activities:    
Repayment of loan obligations (70,997)
Repayments of capital lease obligations (106,683) (59,176)
Net Cash Used in Financing Activities (177,680) (59,176)
Increase (Decrease) in Cash and Cash Equivalents (105,495) 12,895
Cash and Cash Equivalents, Beginning of Period 255,817 67,045
Cash and Cash Equivalents, End of Period 150,322 79,940
Cash paid for interest 27,430 15,131
Cash paid for income taxes
Non cash investing and financing activities:    
Accrual of preferred stock dividend 28,208 25,234
Assets acquired by capital lease $ 1,747,096