Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities:    
Net loss $ (644,813) $ (844,570)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 1,773,773 1,524,683
Deferred income tax   (282,500)
Share based compensation 28,824  
Changes in operating assets and liabilities:    
Accounts receivable (1,812,046) (144,194)
Inventory (3,399,458) (416,105)
Prepaid expenses and other current assets 1,717,564 576,523
Accounts payable 5,641,863 2,593,480
Customer deposits 11,080,694 1,247,161
Accrued expenses 1,298,977 (163,547)
Other current liabilities 1,332,584 158,083
Net cash provided by operating activities 17,017,962 4,249,014
Cash Flows on Investing Activities:    
Purchase of property and equipment (13,099) (6,053)
Website and software development costs (1,759,175) (1,792,353)
Net cash used in investing activities (1,772,274) (1,798,406)
Cash Flows from Financing Activities:    
Principal paid on notes payable (5,156) (5,456)
Payments of preferred stock dividends   (125,000)
Net cash used in financing activities (5,156) (130,456)
Net change in Cash 15,240,532 2,320,152
Cash, beginning of year 22,202,706 13,618,835
Cash, end of year 37,443,238 15,938,987
Supplemental disclosure of cash flows information:    
Cash paid for interest 6,490 $ 5,783
Cash paid for income taxes $ 4,000