Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:    
Net (loss) income $ (18,701) $ 1,429,145
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation 3,593,354 3,308,098
Deferred income tax   451,098
Share based compensation 1,321,428  
Changes in operating assets and liabilities:    
Accounts receivable (501,531) (953,484)
Inventory (1,440,606) (1,969,866)
Prepaid expenses and other current assets 1,252,952 366,582
Accounts payable (32,202) 19,455,978
Customer deposits 3,351,055 12,217,133
Accrued expenses 1,024,590 246,925
Other current liabilities 500,584 1,239,846
Net cash provided by operating activities 9,050,923 35,791,455
Cash Flows from Investing Activities:    
Purchase of property and equipment (283,786) (9,344)
Website and software development costs (3,611,451) (3,443,447)
Net cash used in investing activities (3,895,237) (3,452,791)
Cash Flows from Financing Activities:    
Principal paid on notes payable (10,473) (11,043)
Payments of preferred stock dividends   (250,000)
Net cash used in financing activities (10,473) (261,043)
Net change in cash 5,145,213 32,077,621
Cash, beginning of period 22,202,706 13,618,835
Cash, end of period 27,347,919 45,696,456
Supplemental disclosure of cash flows information:    
Cash paid for interest 6,885 $ 35,225
Cash paid for income taxes $ 4,000