Energy Services of America CORP
For the period ended Dec 31, 2023. Filed Feb 12, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 12, 2024
ESOA$8.81-2.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
Unaudited
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Three Months Ended · · Three Months Ended | ||||||
| · · December 31, · · December 31, | ||||||
| · 2023 · 2022 | ||||||
| Cash flows from operating activities: · · | ||||||
| Net income | | $2,042,195 | | $138,374 | ||
| | | | | | | |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | |
| Depreciation expense | | | 2,068,479 | | 1,762,322 | |
| Accreted interest on PPP loans | | 25,144 | | 25,144 | ||
| Loss on sale of equipment | | 13,328 | | 31,343 | ||
| Provision for deferred taxes | | | 781,868 | | | (421,878) |
| Amortization of intangible assets | | | 108,142 | | | 132,780 |
| Accreted interest on note payable | | | 23,239 | | | 10,599 |
| Decrease in accounts receivable | | | 8,002,890 | | | 3,153,393 |
| Increase in retainage receivable | | | (2,101,964) | | | (545,772) |
| Increase in other receivables | | | (704,362) | | | (2,833) |
| (Increase) decrease in contract assets | | | (5,840,372) | | | 1,711,912 |
| Decrease in prepaid expenses and other | | 832,892 | | 775,487 | ||
| Increase (decrease) in accounts payable | | 214,863 | | (5,330,386) | ||
| Decrease in accrued expenses and other current liabilities | | (2,522,882) | | (2,451,871) | ||
| (Decrease) increase in contract liabilities | | (79,287) | | 2,584,305 | ||
| Net cash provided by operating activities | | 2,864,173 | | 1,572,919 | ||
| | | | | |||
| Cash flows from investing activities: | | | | | ||
| Investment in property and equipment | | (1,385,883) | | (2,348,901) | ||
| Proceeds from sales of property and equipment | | 365,234 | | 92,815 | ||
| Net cash used in investing activities | | (1,020,649) | | (2,256,086) | ||
| | | | | | | |
| Cash flows from financing activities: | | | | | ||
| Borrowings on lines of credit and short term debt, net of (repayments) | | | (4,963,150) | | | (580,320) |
| Proceeds from long-term debt | | | — | | | 3,100,000 |
| Principal payments on long term debt | | | (2,056,926) | | | (1,733,080) |
| Net cash (used in) provided by financing activities | | (7,020,076) | | 786,600 | ||
| (Decrease) increase in cash and cash equivalents | | (5,176,552) | | 103,433 | ||
| Cash and cash equivalents beginning of period | | 16,431,572 | | 7,427,474 | ||
| Cash and cash equivalents end of period | | $11,255,020 | | $7,530,907 | ||
| | | | | | ||
| Supplemental schedule of noncash investing and financing activities: | | | | | ||
| Purchases of property & equipment under financing agreements | | $812,915 | | $88,192 | ||
| Net operating lease right-of-use assets received in exchange for operating lease liabilities | | $252,259 | | $— | ||
| Common dividends declared but not paid | | $994,031 | | $— | ||
| | | | | | ||
| Supplemental disclosures of cash flows information: | | | | | ||
| Cash paid during the year for: | | | | | ||
| Interest | | $574,067 | | $472,960 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.