Cash Flow

v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows from Operating Activities:    
Net loss $ (845,604) $ (1,184,166)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense 1,815 1,531
Stock issued to directors as compensation 36,002 36,000
Depreciation and amortization 16,931 16,915
Provision for doubtful accounts, net of recoveries (26,317) (3,356)
Reserve for inventory obsolescence 171,901 54,100
Noncash operating lease expense 59,476 0
Changes in operating assets and liabilities:    
Accounts receivable (1,438,685) 329,367
Inventories 5,061 361,948
Prepaid expenses and other current assets 15,020 (219,316)
Accounts payable 462,605 (283,485)
Accrued liabilities and expenses 187,127 (67,554)
Contract liability (169,347) 255,170
Contract assets (131,913) (295,479)
Operating lease liability (54,788) 0
Income taxes receivable (5,641) 0
Deferred lease liability 0 6,441
Net Cash Used In Operating Activities (1,716,357) (991,884)
Cash Flows From Investing Activities:    
Purchase of property and equipment (2,302) (7,493)
Net proceeds from sale of subsidiary 0 0
Net Cash Used In Investing Activities (2,302) (7,493)
Cash Flows From Financing Activities:    
Proceeds from line of credit 2,339,000 220,610
Payments on line of credit (1,553,234) (279,969)
Net Cash (Used in) Provided By Financing Activities 785,766 (59,359)
Net decrease in cash and cash equivalents (932,893) (1,058,736)
Cash, cash equivalents and restricted cash at the beginning of the period 4,678,891 9,195,595
Cash, cash equivalents and restricted cash at the end of the period 3,745,998 8,136,859
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest $ 10,937 $ 12,228

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