\nCCOM Group, Inc. (\u201cCCOM\u201d) (OTC Pink: \u201cCCOM,\u201d \u201cCCOMP\u201d), announced its financial results for the quarter ended March 31, 2021.\n<\/p>\n
\nResults for the quarter ended March 31, 2021 compared to results for the same period in 2020:\n<\/p>\n
- \n
- \nSales decreased 1.5% to $22,082,860 from $22,408,803\n<\/li>\n
- \nGross profit increased 2.5% to $6,059,854 from $5,914,511\n<\/li>\n
- \nSelling, general and administrative expenses decreased 8.0% to $5,991,712 from $6,512,497\n<\/li>\n
- \nOperating income of $68,142 compared to operating loss of $(597,986)\n<\/li>\n
- \nNet income of $13,839 compared to a net loss of $(688,151)\n<\/li>\n
- \nNet income per share on a fully diluted basis of $0.00 per share compared to a net loss per share on a fully diluted basis of $(0.07) per share\n<\/li>\n<\/ul>\n
About CCOM Group, Inc.<\/span><\/p>\n
\nCCOM Group, Inc. (\u201cCCOM\u201d) distributes heating, ventilating and air conditioning equipment (HVAC), parts and accessories, whole-house generators, climate control systems, and plumbing and electrical fixtures and supplies, primarily in New Jersey, New York, Massachusetts and portions of eastern Pennsylvania, Connecticut and Vermont through its subsidiaries: Universal Supply Group, Inc., www.usginc.com<\/a>, The RAL Supply Group, Inc., www.ralsupply.com<\/a>, and S&A Supply, Inc., www.sasupplyinc.com<\/a>. CCOM is headquartered in New Jersey, and, with its affiliates, operates out of 15 locations in its geographic trading area. For more information on CCOM\u2019s operations, products and\/or services, please visit www.ccom-group.com<\/a>.\n<\/p>\n
For further information, please contact Peter D. Gasiewicz, Chief Executive Officer, or William Salek, Chief Financial Officer, at (973) 427-8224.<\/b><\/p>\n
\n(Financial Highlights Follow)\n<\/p>\n
\n
\n CCOM GROUP, INC. AND SUBSIDIARIES<\/td>\n<\/tr>\n \n Condensed Consolidated Balance Sheets<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n March 31,<\/td>\n \n December 31,<\/td>\n<\/tr>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2021\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2020\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n (Unaudited)<\/td>\n \n <\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Assets<\/td>\n \n \n <\/tr>\n \n Current assets:<\/td>\n \n \n <\/tr>\n \n Cash<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n213,132\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n388,267\n<\/p>\n<\/td>\n<\/tr>\n
\n Accounts receivable, net of allowance for doubtful accounts<\/td>\n \n \n <\/tr>\n \n of $688,433 and $766,459, respectively<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n10,722,144\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n10,305,665\n<\/p>\n<\/td>\n<\/tr>\n
\n Inventory<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n25,416,309\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n20,936,936\n<\/p>\n<\/td>\n<\/tr>\n
\n Prepaid expenses and other current assets<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n548,682\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n749,053\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total current assets<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n36,900,267\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n32,379,921\n<\/p>\n<\/td>\n<\/tr>\n
\n Property and equipment<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,102,081\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,095,506\n<\/p>\n<\/td>\n<\/tr>\n
\n Goodwill<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,416,928\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,416,929\n<\/p>\n<\/td>\n<\/tr>\n
\n Other assets – noncurrent<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n320,113\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n188,824\n<\/p>\n<\/td>\n<\/tr>\n
\n Deferred tax asset – noncurrent<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,548,575\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,548,575\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n$\n<\/p>\n<\/td>\n
\n \n42,287,964\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n37,629,755\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Liabilities and Stockholders’ Equity<\/td>\n \n \n <\/tr>\n \n Current liabilities:<\/td>\n \n \n <\/tr>\n \n Borrowings under credit facility – revolving credit<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n12,067,906\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n9,151,368\n<\/p>\n<\/td>\n<\/tr>\n
\n Notes payable – current portion<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n913,476\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n627,009\n<\/p>\n<\/td>\n<\/tr>\n
\n Trade payables<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n7,805,141\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n5,892,126\n<\/p>\n<\/td>\n<\/tr>\n
\n Accrued liabilities<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,303,510\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,450,810\n<\/p>\n<\/td>\n<\/tr>\n
\n Income taxes payable<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,850\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,850\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total current liabilities<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n23,092,883\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n18,124,163\n<\/p>\n<\/td>\n<\/tr>\n
\n Notes payable, excluding current portion<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,923,392\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,247,742\n<\/p>\n<\/td>\n<\/tr>\n
\n Deferred tax liability – noncurrent<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n354,000\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n354,000\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total liabilities<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n25,370,275\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n20,725,905\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Commitments and contingencies<\/td>\n \n \n <\/tr>\n \n Stockholders’ equity:<\/td>\n \n \n <\/tr>\n \n Redeemable convertible preferred stock, $.05 par value,<\/td>\n \n \n <\/tr>\n \n 2,500,000 shares authorized, 284,612 shares issued and<\/td>\n \n \n <\/tr>\n \n outstanding, liquidation preference of $1,423,060<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n14,231\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n14,231\n<\/p>\n<\/td>\n<\/tr>\n
\n Common stock, $.05 par value, 20,000,000 shares authorized,<\/td>\n \n \n <\/tr>\n \n 9,154,928 shares issued and outstanding<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n457,746\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n457,746\n<\/p>\n<\/td>\n<\/tr>\n
\n Additional paid-in capital<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n12,596,853\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n12,596,853\n<\/p>\n<\/td>\n<\/tr>\n
\n Retained Earnings<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,848,859\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,835,020\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total stockholders’ equity<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n16,917,689\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n16,903,850\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n$\n<\/p>\n<\/td>\n
\n \n42,287,964\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n37,629,755\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n CCOM GROUP, INC. AND SUBSIDIARIES<\/td>\n<\/tr>\n \n Condensed Consolidated Statements of Operations<\/td>\n<\/tr>\n \n (Unaudited)<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n For the Three Months Ended<\/td>\n<\/tr>\n \n \n \n \n \n March 31,<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n2021\n<\/p>\n<\/td>\n
\n \n \n2020\n<\/p>\n<\/td>\n<\/tr>\n
\n Sales<\/td>\n \n \n \n $<\/td>\n \n \n22,082,860\n<\/p>\n<\/td>\n
$<\/td>\n \n \n22,408,803\n<\/p>\n<\/td>\n<\/tr>\n
\n Cost of sales<\/td>\n \n \n \n \n \n16,023,006\n<\/p>\n<\/td>\n
\n \n \n16,494,292\n<\/p>\n<\/td>\n<\/tr>\n
\n Gross profit<\/td>\n \n \n \n \n \n6,059,854\n<\/p>\n<\/td>\n
\n \n \n5,914,511\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Selling, general and administrative expenses, net<\/td>\n \n \n \n5,991,712\n<\/p>\n<\/td>\n
\n \n \n6,512,497\n<\/p>\n<\/td>\n<\/tr>\n
\n Operating income\/(loss)<\/td>\n \n \n \n \n68,142\n<\/p>\n<\/td>\n
\n \n \n(597,986)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Other income<\/td>\n \n \n \n \n \n41,197\n<\/p>\n<\/td>\n
\n \n \n56,454\n<\/p>\n<\/td>\n<\/tr>\n
\n Interest expense, net<\/td>\n \n \n \n \n \n(76,651)\n<\/p>\n<\/td>\n
\n \n \n(131,553)\n<\/p>\n<\/td>\n<\/tr>\n
\n Income\/(loss) before income tax expense<\/td>\n \n \n \n32,688\n<\/p>\n<\/td>\n
\n \n \n(673,085)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Income tax expense<\/td>\n \n \n \n \n \n18,849\n<\/p>\n<\/td>\n
\n \n \n15,066\n<\/p>\n<\/td>\n<\/tr>\n
\n Net Income\/(loss)<\/td>\n \n \n $<\/td>\n \n \n13,839\n<\/p>\n<\/td>\n
$<\/td>\n \n \n(688,151)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Income\/(Loss) per common share:<\/td>\n \n \n \n \n <\/tr>\n \n Basic<\/td>\n \n \n \n $<\/td>\n \n \n0.00\n<\/p>\n<\/td>\n
$<\/td>\n \n \n(0.07)\n<\/p>\n<\/td>\n<\/tr>\n
\n Diluted<\/td>\n \n \n \n $<\/td>\n \n \n0.00\n<\/p>\n<\/td>\n
$<\/td>\n \n \n(0.07)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Weighted average shares<\/td>\n \n \n \n \n \n <\/tr>\n \n outstanding:<\/td>\n \n \n \n \n \n <\/tr>\n \n Basic<\/td>\n \n \n \n \n \n \n9,154,928\n<\/p>\n<\/td>\n
\n \n \n9,154,928\n<\/p>\n<\/td>\n<\/tr>\n
\n Diluted<\/td>\n \n \n \n \n \n \n9,439,540\n<\/p>\n<\/td>\n
\n \n \n9,154,928\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n CCOM GROUP, INC. AND SUBSIDIARIES<\/td>\n<\/tr>\n \n Consolidated Statements of Stockholders’ Equity<\/td>\n<\/tr>\n \n For The Three Months Ended March 31, 2021<\/td>\n<\/tr>\n \n (Unaudited)<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \n Number of shares<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n \n \n Redeemable
Convertible
Preferred Stock<\/td>\n\u00a0<\/td>\n Common Stock<\/td>\n \u00a0<\/td>\n Redeemable
Convertible
Preferred Stock<\/td>\n\u00a0<\/td>\n Common Stock<\/td>\n \u00a0<\/td>\n Additional Paid-In
Capital<\/td>\n\u00a0<\/td>\n Retained Earnings
\/ Accumulated Deficit<\/td>\n\u00a0<\/td>\n Total
Stockholders’
Equity<\/td>\n<\/tr>\n\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Balance at December 31, 2020<\/td>\n \n \n \n284,612\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n9,154,928\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n14,231\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n457,746\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n12,596,853\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n3,835,020\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n16,903,850\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Net Income<\/td>\n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n13,839\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n13,839\n<\/p>\n<\/td>\n<\/tr>\n
\n Balance at March 31, 2021<\/td>\n \n \n \n284,612\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n9,154,928\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n14,231\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n457,746\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n12,596,853\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n3,848,859\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n16,917,689\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n CCOM GROUP, INC. AND SUBSIDIARIES<\/td>\n<\/tr>\n \n Condensed Consolidated Statements of Cash Flows<\/td>\n<\/tr>\n \n (Unaudited)<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n For The Three Months Ended<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n March 31,<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n2021\n<\/p>\n<\/td>\n
\n \n \n2020\n<\/p>\n<\/td>\n<\/tr>\n
\n Cash flows from operating activities:<\/td>\n \n \n \n \n .<\/td>\n \n <\/tr>\n \n Net Income\/(loss)<\/td>\n \n \n \n \n $<\/td>\n \n \n13,839\n<\/p>\n<\/td>\n
$<\/td>\n \n \n(688,151)\n<\/p>\n<\/td>\n<\/tr>\n
\n Adjustments to reconcile net income (loss) to net cash<\/td>\n \n \n \n \n <\/tr>\n \n used in operating activities:<\/td>\n \n \n \n \n \n \n <\/tr>\n \n Provision for doubtful accounts<\/td>\n \n \n \n \n \n \n(85,449)\n<\/p>\n<\/td>\n
\n \n \n58,753\n<\/p>\n<\/td>\n<\/tr>\n
\n Depreciation<\/td>\n \n \n \n \n \n \n \n109,282\n<\/p>\n<\/td>\n
\n \n \n98,253\n<\/p>\n<\/td>\n<\/tr>\n
\n Net gain on sale of fixed assets<\/td>\n \n \n \n \n \n \n(3,000)\n<\/p>\n<\/td>\n
\n \n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n Changes in operating assets and liabilities<\/td>\n \n \n \n \n \n <\/tr>\n \n Accounts receivable<\/td>\n \n \n \n \n \n \n(331,030)\n<\/p>\n<\/td>\n
\n \n \n(519,030)\n<\/p>\n<\/td>\n<\/tr>\n
\n Inventory<\/td>\n \n \n \n \n \n \n \n(4,479,373)\n<\/p>\n<\/td>\n
\n \n \n(5,396,373)\n<\/p>\n<\/td>\n<\/tr>\n
\n Prepaid expenses and other current assets<\/td>\n \n \n \n \n \n200,371\n<\/p>\n<\/td>\n
\n \n \n247,686\n<\/p>\n<\/td>\n<\/tr>\n
\n Other assets – noncurrent<\/td>\n \n \n \n \n \n \n(131,289)\n<\/p>\n<\/td>\n
\n \n \n6,225\n<\/p>\n<\/td>\n<\/tr>\n
\n Trade payables<\/td>\n \n \n \n \n \n \n1,913,015\n<\/p>\n<\/td>\n
\n \n \n6,276,597\n<\/p>\n<\/td>\n<\/tr>\n
\n Accrued liabilities<\/td>\n \n \n \n \n \n \n(147,300)\n<\/p>\n<\/td>\n
\n \n \n(473,826)\n<\/p>\n<\/td>\n<\/tr>\n
\n Net cash used in operating activities<\/td>\n \n \n \n \n \n(2,940,934)\n<\/p>\n<\/td>\n
\n \n \n(389,866)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Cash flows from investing activities:<\/td>\n \n \n \n \n \n \n <\/tr>\n \n Additions to property and equipment<\/td>\n \n \n \n \n \n \n(115,856)\n<\/p>\n<\/td>\n
\n \n \n(126,784)\n<\/p>\n<\/td>\n<\/tr>\n
\n Proceeds from disposal of property and equipment<\/td>\n \n \n \n \n3,000\n<\/p>\n<\/td>\n
\n \n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n Net cash used in investing activities<\/td>\n \n \n \n \n \n(112,856)\n<\/p>\n<\/td>\n
\n \n \n(126,784)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Cash flows from financing activities:<\/td>\n \n \n \n \n \n \n <\/tr>\n \n Repayments of notes payable<\/td>\n \n \n \n \n \n \n(37,883)\n<\/p>\n<\/td>\n
\n \n \n(26,341)\n<\/p>\n<\/td>\n<\/tr>\n
\n Borrowings under credit facility – revolving credit, net<\/td>\n \n \n \n \n2,916,538\n<\/p>\n<\/td>\n
\n \n \n692,964\n<\/p>\n<\/td>\n<\/tr>\n
\n Net cash provided by financing activities<\/td>\n \n \n \n \n \n2,878,655\n<\/p>\n<\/td>\n
\n \n \n666,623\n<\/p>\n<\/td>\n<\/tr>\n
\n (Decrease)\/Increase in cash<\/td>\n \n \n \n \n \n \n(175,135)\n<\/p>\n<\/td>\n
\n \n \n149,973\n<\/p>\n<\/td>\n<\/tr>\n
\n Cash – beginning of period<\/td>\n \n \n \n \n \n \n388,267\n<\/p>\n<\/td>\n
\n \n \n193,448\n<\/p>\n<\/td>\n<\/tr>\n
\n Cash – end of period<\/td>\n \n \n \n \n $<\/td>\n \n \n213,132\n<\/p>\n<\/td>\n
$<\/td>\n \n \n343,421\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n\u00a0\n<\/p>\n
<\/p>\n