Cash Flow

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities:    
Net income (loss) $ (3,016,750) $ 3,746,378
Less: Net income from discontinued operations 0 (612,875)
Gain on sale of discontinued operations 0 (6,630,244)
Net loss from continuing operations (3,016,750) (3,496,741)
Adjustments to reconcile net loss from continuing operations to cash used in operating activities of continuing operations:    
Stock-based compensation expense 6,404 322,888
Stock issued to directors as compensation 144,000 144,000
Depreciation and amortization 67,107 51,229
Provision for doubtful accounts, net of recoveries 55,152 35,187
Reserve for inventory obsolescence (130,749) 111,400
Changes in operating assets and liabilities:    
Accounts receivable 473,845 (241,701)
Inventories (400,637) (593,734)
Prepaid expenses and other current assets (433,820) 61,762
Deposits and other long term assets 0 (17,130)
Accounts payable (570,162) 212,590
Accrued liabilities and expenses (12,203) (256,767)
Contract liability 453,623 0
Deferred revenue (512,066) 206,852
Related party payable 0 (97,127)
Customer deposits (124,380) (41,450)
Contract assets 34,251 0
Income taxes receivable (2,395) (17,300)
Deferred lease liability 23,038 21,136
Net Cash Used In Operating Activities of Continuing Operations (3,945,742) (3,594,906)
Net Cash Provided By Operating Activities of Discontinued Operations 0 517,242
Net Cash Used In Operating Activities (3,945,742) (3,077,664)
Cash Flows From Investing Activities:    
Purchase of property and equipment (10,225) (211,492)
Net proceeds from sale of subsidiary 0 12,072,811
Net Cash (Used In) Provided By Investing Activities of Continuing Operations (10,225) 11,861,319
Cash Flows From Financing Activities:    
Proceeds from line of credit 3,720,000 4,373,600
Payments on line of credit (4,280,737) (4,753,518)
Net Cash Used In Financing Activities of Continuing Operations (560,737) (379,918)
Net (decrease) increase in cash and cash equivalents (4,516,704) 8,403,737
Cash and cash equivalents and restricted cash at the beginning of the period 9,195,595 791,858
Cash and cash equivalents at the end of the period 4,678,891 9,195,595
Cash transactions:    
Cash paid during the year for interest 32,662 17,173
Cash paid during the year for income taxes, net of refunds 12,410 139,823
Non-cash transactions:    
Issuance of stock to directors $ 144,000 $ 144,000

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