XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 23,594,786 $ (1,095,427)
Adjustments to reconcile net income to net cash    
Depreciation of property and equipment 2,592,244 1,697,380
Amortization of intangible assets 2,269,423 1,432,983
Amortization of finance lease right-of-use assets 2,391,989 2,383,940
(Gain) Loss on disposal of assets (42,667) 27,730
Gain from PPP loan forgiveness (142,667)
Gain from equity method investment (99,840)
Bad debt expense 2,702,979 2,152,470
Stock based compensation 4,616,056 1,224,580
Gain on remeasurement of finance leases (1,388,273)
Gain on remeasurement of warrant liabilities (1,137,070)
Changes in operating assets and liabilities:    
Accounts receivable 2,894,650 (28,794,602)
Prepaid expenses and other current assets (282,668) (4,531,411)
Other assets 882,432 (1,786,407)
Accounts payable (3,983,383) 9,422,628
Accrued liabilities 2,596,887 24,861,804
Net cash provided by operating activities 37,607,545 6,853,001
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of property and equipment (1,994,161) (2,824,916)
Acquisition of intangibles (1,956,434) (1,571,959)
Acquisition of businesses (33,843,373) (56,496)
Proceeds from disposal of property and equipment 6,000
Net cash used in investing activities (37,793,968) (4,447,371)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit line 1,000,000 8,000,000
Repayments of notes payable (585,711) (374,456)
Due to seller (1,007,800)
Noncontrolling interest contributions 2,063,000 333,025
Proceeds from exercise of stock options 1,880,568
Common stock repurchased (497,759)
Equity costs (19,570)
Payments on obligations under finance lease (2,146,857) (1,830,823)
Net cash provided by financing activities 685,871 6,127,746
Effect of exchange rate changes on cash and cash equivalents (252,854) 171,846
Net increase in cash and restricted cash 246,594 8,705,222
Cash and restricted cash at beginning of period 179,105,730 34,457,273
Cash and restricted cash at end of period 179,352,324 43,162,495
Supplemental disclosure of cash and non-cash transactions:    
Cash paid for interest 102,203 39,637
Cash paid for interest on finance lease liabilities 434,580 381,937
Cash paid for income taxes 917,445 613,531
Right-of-use assets obtained in exchange for lease liabilities 4,094,731 3,569,276
Fixed assets acquired in exchange for notes payable 819,231 271,194
Acquisition of remaining 20% of Ambulnz UK LTD 228,518
Gain from PPP loan forgiveness 142,667
Reconciliation of cash and restricted cash    
Cash 169,598,749 39,550,926
Restricted Cash 9,753,575 3,611,569
Total cash and restricted cash shown in statement of cash flows $ 179,352,324 $ 43,162,495