Cash Flow

v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities:    
Net loss $ (2,118,048) $ (2,671,756)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense related to employee stock options 5,446 4,590
Stock issued to directors as compensation 105,000 108,000
Depreciation and amortization 50,750 50,340
Provision for doubtful accounts, net of recoveries (7,241) 101,917
Reserve for inventory obsolescence 189,539 (15,394)
Noncash operating lease expense 178,426 0
Changes in operating assets and liabilities:    
Accounts receivable (991,466) 285,330
Inventories 233,800 (615,055)
Prepaid expenses and other current assets 204,343 (515,403)
Accounts payable 596,554 (335,056)
Accrued liabilities and expenses (33,874) 297,803
Contract liability (111,648) (370,209)
Contract assets (108,554) (7,292)
Operating lease liability (164,794) 0
Income taxes receivable (5,641) (10,018)
Deferred lease liability 0 17,893
Net Cash Used In Operating Activities (1,977,408) (3,674,311)
Cash Flows From Investing Activities:    
Purchase of property and equipment (5,318) (7,492)
Net Cash Used In Investing Activities (5,318) (7,492)
Cash Flows From Financing Activities:    
Proceeds from line of credit 9,079,000 1,100,000
Payments on line of credit (8,291,051) (1,526,481)
Net Cash Provided (Used in) Financing Activities 787,949 (426,481)
Net decrease in cash and cash equivalents (1,194,777) (4,108,284)
Cash and cash equivalents at the beginning of the period 4,678,891 9,195,595
Cash, cash equivalents and restricted cash at the end of the period 3,484,114 5,087,311
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest $ 60,580 $ 21,430

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