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 Earnings $ (1,681,409) $ 264,894
Noncash Items Included in Net Earnings:    
Deferred Income Taxes (Credit) (432,800) 159,838
Depreciation and Amortization 496,827 333,495
Gain on Extinguishment of Debt (770,061)
Intangible Asset - Customer List Impairment 80,704 63,204
Reduction in Contingent Earn-Out Liability (140,746) (69,584)
Stock-Based Compensation 212,368
Non-Cash Interest Expense 14,295
Unrealized Loss on Short-Term Investments 231,214
(Increase) Decrease In:    
Accounts Receivable (1,314,252) (1,586,786)
Deferred IPO Costs (459,638)
Due From Wildman (108,476)
Inventory (1,887,586) (1,412,425)
Prepaid Expenses (13,772) (89,735)
Deposits 281,079 (30,479)
Increase (Decrease) In:    
Accounts Payable and Accrued Expenses (2,136,562) 2,536,006
Accrued Payroll and Related (143,289) (107,461)
Corporate Income Taxes Payable (231,980)
Unearned Revenue (152,250) 56,615
Rewards Program Liability (43,878) (129,392)
Sales Tax Payable 114,333 23,004
Net cash provided by operating activities (6,515,724) (1,558,961)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to Intangible Assets - Customer Lists (540,290)
Additions to Property and Equipment (350,108) (314,448)
Purchase of Short-Term Investments (9,929,617)
Net cash provided by in investing activities (10,820,015) (314,448)
New Borrowings:    
Note Payable - Line of Credit 4,225,000
Debt Reduction:    
Note Payable - Line of Credit (2,375,000)
Contingent Earn-Out Liabilities (525,109) (333,146)
Change in Due To/From Stockholder 506,748
Net Working Deficit Received in Asset Acquisition (194,115)
Stock Repurchase (3,182,405)
Proceeds from Warrants Exercised 1,307,362
Net cash provided by financing activities (2,594,267) 2,023,602
NET INCREASE (DECREASE) IN CASH (19,930,006) 150,193
CASH - BEGINNING 32,226,668 647,235
CASH - ENDING 12,296,662 797,428
Cash Paid During The Period For:    
Interest 4,747 66,066
Income Taxes 85,163 360,906
Schedule of Noncash Investing and Financing Transactions:    
Cost of Property and Equipment 364,552
Equipment Acquired in Asset Acquisition (14,444)
Cash Used for Purchase of Property and Equipment 350,108
Non-Cash Wildman Business Group LLC Asset Acquisition 2,416,048
Non-Cash G.A.P. Promotions LLC Asset Acquisition 1,735,000
Non-Cash Trend Inc. Asset Acquisition 1,470,344
Total Noncash Investing and Financing Transactions $ 3,205,344 $ 2,416,048

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