Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flow from operating activities:    
Net income (loss) $ (62,408) $ 157,139
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expenses 271,311 $ 122,249
Non-cash professional expenses 384,511
Bad debt expense (32,682) $ 762
Non cash write off of acquisition deposits 300,000
(Increase) decrease in assets:    
Accounts receivable, net (160,581) $ (7,768)
Other current assets 10,599 (1,025)
Deposits 8,662 (8,662)
(Decrease) increase in liabilities:    
Accounts payable and accrued expenses 12,994 (13,279)
Related party accrued interest $ 6,304 (28,528)
Income taxes payable 32,242
Deferred tax assets and liabilities, net $ (32,150) 48,709
Net cash provided by operating activities 706,560 301,839
Cash flows from investing activities:    
Purchases of property and equipment $ (577,203) (30,131)
Advance to related party $ (8,400)
Purchase of intangible assets $ (24,272)
Cash acquired in acquisitions 54,537
Net cash used in investing activities (546,938) $ (38,531)
Cash flows from financing activities:    
Issuance of long term debt 448,809
Payments on long term debt (99,690)
Payments on capital lease obligation (21,228) $ (30,332)
Payments on loan from shareholder (251,790) (181,781)
Net cash provided by (used in) financing activities 76,101 (212,113)
Net increase (decrease) in cash 235,723 51,195
Cash, beginning of period 108,642 57,447
Cash, end of period 344,365 108,642
Supplemental disclosure of cash flow information:    
Cash paid during the year for interest $ 23,666 $ 10,610
Cash paid during the year for income taxes
Supplemental schedule of non-cash activities:    
Acquisition of Waste Recovery Enterprises, LLC in exchange for common stock, common stock subscribed and an owner financed short term note. See note 10, Acquisitions. $ 3,000,000
Acquisition of Gateway Rolloff Services, LP in exchange for common stock, common stock subscribed and an amount due to a related party. See note 10, Acquisitions. 2,950,000
Issuances of shares subscribed for deposit on landfill 300,000
Issuances of shares or shares subscribed for services $ 126,682