XML 29 R5.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (113,242) $ (211,986)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 122,404 125,562
Amortization of operating lease right-of-use assets 6,880 3,748
Share-based compensation (20,789) 58,840
Provision for bad debt 20,125 0
Unrealized loss on stock price guarantee 0 6,414
Changes in assets and liabilities:    
Accounts receivable (48,761) (57,987)
Prepaid expenses and other current assets 27,395 20,636
Accounts payable 67,016 96,122
Accrued expenses 40,095 40,690
Contract liabilities 1,381 (46,700)
Operating lease obligations (7,061) (3,574)
Net cash provided by operating activities 95,443 31,765
Cash flows from investing activities:    
Purchase of property and equipment 0 (5,424)
Net cash used in investing activities 0 (5,424)
Cash flows from financing activities:    
Payments on finance leases (2,316) (2,121)
Payments on note payable 0 (15,346)
Payments of preferred dividends (26,252) 0
Net cash used in financing activities (28,568) (17,467)
Effect of exchange rate changes on cash and cash equivalents (41,874) 4,780
Net change in cash and cash equivalents 25,001 13,654
Cash, cash equivalents, beginning of year 475,881 632,331
Cash, cash equivalents, end of year 500,882 645,985
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid during the period for: income taxes 500 500
Cash paid during the period for: interest 281 0
SUPPLEMENTAL DISCLOSURES OF NON-CASH ITEMS    
Issuance of preferred share for settlement of dividends $ 358,638 $ 0