Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flow from operating activities:    
Net income (loss) $ (41,206) $ 38,374
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expenses 258,151 $ 41,023
Non-cash professional expenses 64,455
Non cash write off of acquisition deposits 50,000
(Increase) decrease in assets:    
Accounts receivable, net (33,809) $ 27,506
Other current assets (2,404) $ (8,399)
Deposits (4,948)
(Decrease) increase in liabilities:    
Accounts payable and accrued expenses $ 30,319 $ 31,020
Related party accrued interest 1,891
Income taxes payable $ (21,506) $ 20,583
Deferred tax assets and liabilities, net 17,188
Net cash provided by operating activities 316,240 $ 151,998
Cash flows from investing activities:    
Purchases of property and equipment (51,389)
Net cash used in investing activities (51,389)
Cash flows from financing activities:    
Payments on long term debt (57,946)
Payments on capital lease obligation (5,890) $ (9,273)
Net cash provided by (used in) financing activities (63,836) (9,273)
Net increase (decrease) in cash 201,015 142,725
Cash, beginning of period 344,365 108,642
Cash, end of period 545,380 251,367
Supplemental disclosure of cash flow information:    
Cash paid during the year for interest $ 17,065 $ 6,275
Cash paid during the year for income taxes
Supplemental schedule of non-cash activities:    
Issuances of shares subscribed $ 3,150,000
Short term acquisition note paid on behalf of Company by a related party 250,000
Conversion of shareholder debt to 10% cumulative preferred stock 2,000,000
Conversion of shareholder debt to non-interest bearing accrued short term payable (remaining difference from Preferred Conversion of Shareholder Debt) 17,301
Preferred stock dividends accrued, not paid 50,000
Conversion of related party payable to restricted common stock $ 592,829