Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (907,521) $ 446,322
Adjustments to reconcile net loss to cash used in operating activities    
Depreciation and amortization 32,550 44,311
Right to use asset depreciation 4,852  
Stock compensation 6,931 7,769
Amortization of debt discount   75,638
Amortization of debt issuance costs   5,705
Gain on litigation   (405,000)
Change in assets and liabilities    
Prepaid expenses and other assets 52,389 (51,901)
Accounts payable and accrued expenses 89,329 (174,887)
Advances (repayments) to related party 32,395 71,289
Other liabilities 48,578 (22,277)
Lease liability payments (4,426)  
Deferred taxes (14,200)  
Net cash used in operating activities (659,123) (3,031)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net cash received from business acquisition 51,327  
Proceeds for real estate assets owned 64,101 32,544
Net cash provided by investing activities 290,544 236,429
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from borrowing   500,000
Principal repayments (80,761) (39,028)
Exercise of warrants 22,320  
Debt issue costs   (82,382)
Net cash provided by (used in) financing activities (58,441) 378,590
NET INCREASE (DECREASE) IN CASH (427,020) 611,988
CASH - BEGINNING OF YEAR 3,520,753 590,394
CASH - END OF YEAR 3,093,733 1,202,382
SUPPLEMENTAL DISCLOSURES OF CASHFLOW INFORMATION    
Cash paid for interest 16,743  
SUPPLEMENTAL DISCLOSURES OF NON-CASHFLOW INFORMATION    
Non Cash - insurance financing   87,012
Non Cash - debt discount - warrants   154,676
ROU asset obligation recognized 26,685  
Original Product [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net collections of finance receivables 95,242 133,250
Special Product [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net collections of finance receivables $ 79,874 $ 70,635