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Craig A. Smith & Associates, Inc. and MPS3D, LLC
<br />Combined Statement of Cash Flows
<br />See accompanying notes to combined financial statements and accountant's review report
<br />-5-
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<br />December 31,
<br />December 31,
<br />Cash Flows From Operating Activities
<br />2014
<br />2013
<br />Combined net profit / (loss)
<br />$ 353,974
<br />$ (534,718)
<br />Adjustments to reconcile combined net profit (loss) to net cash provided by
<br />operating activities:
<br />Depreciation and amortization
<br />52,540
<br />49,223
<br />Allowance for doubtful accounts
<br />(37,150)
<br />9,321
<br />Loss on sale of equipment
<br />6,943
<br />-
<br />Changes in operating assets and liablitlies:
<br />Decrease in accounts receivables
<br />(207,458)
<br />4,195
<br />Increase in costs and estimated earnings in excess of billings
<br />40,996
<br />(36,486)
<br />Decrease in prepaid expenses
<br />6,750
<br />132,409
<br />Decrease (Increase) in other receivables
<br />569
<br />(1,364)
<br />Decrease (Increase) in other assets
<br />(465)
<br />(150)
<br />Decrease in bank overdraft
<br />-
<br />-
<br />Decrease (Increase) in accounts payable
<br />(40,098)
<br />80,617
<br />Increase (Decrease) in accrued expenses
<br />117,805
<br />(24,481)
<br />Increase (Decrease) in deferred rent
<br />32,357
<br />24,164
<br />Total adjustments
<br />(27,211)
<br />237,448
<br />Net cash provided (used) by operating activities
<br />326,763
<br />(297,270)
<br />Cash Flows from Investing Activities
<br />Proceeds from sale of assets
<br />19,672
<br />-
<br />Capital expenditures
<br />(68,267)
<br />(57,326)
<br />Net cash provided (used) in investing activities
<br />(48,595)
<br />(57,326)
<br />Cash Flows from Financing Activities
<br />Payments received on note receivable
<br />13,134
<br />12,375
<br />(Repayments)/Advances from line of credit, net
<br />(29,981)
<br />185,000
<br />Issuance/(Repayments) of notes payable - related parties
<br />(97,413)
<br />185,000
<br />Payments of notes payable
<br />(129,326)
<br />(121,562)
<br />Stockholders' distribution
<br />-
<br />(29,167)
<br />Increase (Decrease) in lease obligations
<br />14,441
<br />30,444
<br />Net cash provided (used) in financing activities
<br />(229,145)
<br />262,090
<br />Net increase (decrease) in Cash
<br />49,023
<br />(92,506)
<br />Cash on Hand - Beginning of Year
<br />3,522
<br />96,028
<br />Cash on Hand - End of Year
<br />$ 52,545
<br />$ 3,522
<br />Supplemental Disclosure of Cash Flow Information:
<br />Cash paid during the period for:
<br />Interest
<br />$ 57,070
<br />$ 53,481
<br />See accompanying notes to combined financial statements and accountant's review report
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