v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities:    
Net (loss) income $ (944,701) $ 48,853
Adjustments to reconcile net (loss) income from operations to cash used in operating activities:    
Stock-based compensation expense 10,204 10,983
Stock issued to directors as compensation 36,000 0
Amortization of deferred financing costs 14,210 14,211
Depreciation 24,803 24,255
Amortization 181,260 181,260
Provision for doubtful accounts, net of recoveries 26,152 583
Deferred income taxes 153,936 153,936
Related party payable 161,075 0
Changes in assets and liabilities:    
Accounts receivable 109,762 (923,166)
Inventories (554,963) 128,896
Prepaid expenses and other current assets 66,202 (181,346)
Deposits and other long term assets 23,871 238
Accounts payable (513,255) 129,860
Accrued liabilities and expenses 352,578 186,236
Deferred revenue 91,364 29,842
Related party payable (15,928) 0
Customer deposits 44,061 (215,183)
Deferred lease liability (11,112) (14,339)
Net Cash Used In Operating Activities (744,481) (424,881)
Cash Flows From Investing Activities:    
Purchase of property and equipment (33,629) (6,345)
Change in restricted cash 31,277 31,733
Net Cash (Used In) Provided by Investing Activities (2,352) 25,388
Cash Flows From Financing Activities:    
Payments on notes payable (79,864) (228,943)
Proceeds from exercise of warrants 677,501 262,500
Net proceeds from line of credit 110,000 333,567
Net Cash Provided By Financing Activities 707,637 367,124
Net decrease in cash and cash equivalents (39,196) (32,369)
Cash and cash equivalents at the beginning of the period 951,249 1,128,072
Cash and cash equivalents at the end of the period 912,053 1,095,703
Cash transactions:    
Cash paid during the period for interest 30,980 39,892
Non-cash transactions:    
Accretion of dividends on redeemable preferred stock $ 0 $ 47,628

Source