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ERNEST ENERGY, INC. AND SUBSIDIARIES <br />CONSOLIDATED STATEMENT OF CASH FLOWS <br />FOR THE YEAR ENDED DECEMBER 31, 2022 <br /> <br />See independent accountants’ compilation report. <br />7 <br />RECONCILIATION OF NET LOSS TO NET CASH <br />USED IN OPERATING ACTIVITIES: <br />NET LOSS (1,313,730)$ <br />ADJUSTMENTS TO RECONCILE NET LOSS TO NET <br />CASH USED IN OPERATING ACTIVITIES: <br />Bad debt expense 16,073 <br />Depreciation and amortization 206,804 <br />Loss on disposal of property and equipment 8,803 <br />Deferred income taxes (241,080) <br />Increase in assets: <br />Contract receivables (359,267) <br />Other current assets (23,408) <br />Increase in liabilities: <br />Accounts payable 128,818 <br />Contract liabilities 22,847 <br />Accrued expenses and other current liabilities 59,846 <br />Total Adjustments (180,564) <br />NET CASH USED IN OPERATING ACTIVITIES (1,494,294)$ <br />SCHEDULE OF NONCASH INVESTING ACTIVITIES: <br />Acquisition of Electrik Pros, LLC 1,400,000$ <br />