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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Statement of Cash Flows [Abstract]    
Net cash provided by operating activities $ (624,500) $ 3,957,200
Investing activities:    
Proceeds from sale of aircraft and aircraft engines held for lease, net of re-sale fees 0 1,710,600
Proceeds from sale of assets held for sale, net of re-sale fees 3,104,800 1,079,900
Net cash provided by/(used in) investing activities 3,104,800 2,790,500
Financing activities:    
Issuance of notes payable - Credit Facility 0 5,100,000
Repayment of notes payable - Credit Facility (1,165,000) (33,800,000)
Issuance of notes payable - Term Loans 0 44,310,000
Repayment of notes payable - UK LLC SPE Financing 0 (9,211,100)
Repayment of notes payable - Term Loans (664,000) (1,580,700)
Debt issuance costs (80,300) (5,063,200)
Net cash (used in)/provided by financing activities (1,909,300) (245,000)
Net increase/(decrease) in cash and cash equivalents 571,000 6,502,700
Cash and cash equivalents, beginning of period 3,427,100 1,542,500
Cash and cash equivalents, end of period 3,998,100 8,045,200
Non-cash financing activities    
Non-cash issuance of notes payable - Credit Facility 414,800 0
Cash and cash equivalents 1,746,200 1,542,500
Restricted cash 2,251,900 0
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 3,998,100 $ 1,542,500