Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (67,736) $ 9,907,397
Adjustments to reconcile net (loss) income to cash used in operating activities:    
Depreciation and amortization 382,912 435,750
Amortization of financing costs 15,654
Bad debt expense 504,350 529,718
Gain on sale of property (9,212,346)
Common stock issued in connection with loan extension 92,000
Stock based compensation 325,021 334,433
Changes in operating assets and liabilities:    
Accounts receivable (1,823,255) (2,275,252)
Prepaid expenses and other current assets (233,175) 95,617
Restricted funds 359,414
Employee loans (210,703) (412,113)
Accounts payable and accrued expenses 138,085 (650,425)
Settlement payable (600,000)
Deposits (22,698)
Deferred rent 103,743 145,038
Unearned income 17,101 (16,350)
Net cash used in operating activities (863,657) (1,274,163)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of property 15,113,497
Purchase of equipment (197,588) (149,507)
Net cash (used in) provided by investing activities (197,588) 14,963,990
CASH FLOWS FROM FINANCING ACTIVITIES:    
(Repayments) of advances (43,082)
Proceeds from notes payable 22,113
Proceeds from line of credit 372,636
Purchase of treasury stock (49,954)
Payments on notes payable (262,546) (7,828,777)
Net cash used in financing activities (290,387) (7,499,223)
Net (decrease) increase in cash and cash equivalents (1,351,632) 6,190,604
Cash and cash equivalents, beginning of period 4,593,638 1,594,998
Cash and cash equivalents, end of period 3,242,006 7,785,602
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid during the period for interest 62,181 237,943
Cash paid during the period for taxes
Supplemental disclosure of non-cash investing and financing activities:    
Common stock issued in settlement of accrued expenses $ 597,067