Cash Flow

v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:    
Net loss $ (1,285,237) $ (412,785)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense related to employee stock options 0 7,262
Depreciation and amortization 43,832 43,471
Loss on fixed asset disposal 526 0
Noncash operating lease expense (ROU) 127,609 229,548
Gain on debt extinguishment 0 (1,836,780)
Changes in operating assets and liabilities:    
Accounts receivable, net (947,549) (145,380)
Inventories, net (480,627) 562,703
Prepaid expenses 32,592 (592,359)
Deposits 3,000 (595)
Accounts payable (719,877) 822,528
Accrued royalties - long-term (140,000) (140,000)
Accrued liabilities (16,138) 166,063
Contract liabilities (241,677) (111,137)
Contract assets 171,174 (161,025)
Operating lease liabilities (146,816) (242,305)
Accrued income tax payable 866 5,431
Income taxes receivable 0 105,745
Net Cash Used In Operating Activities (3,598,322) (1,699,615)
Cash Flows From Investing Activities:    
Payments for Property & Equipment (87,553) 0
Proceeds from sale of fixed assets 1,300 0
Net Cash Used in Investing Activities (86,253) 0
Cash Flows From Financing Activities:    
Proceeds from Note Payable 0 913,063
Proceeds from stock and warrants issued in VDA Transaction 5,000,000 0
Repurchase of employee-owned Series A shares (29,801) 0
Proceeds from line of credit 4,434,152 6,764,968
Payments on line of credit (4,837,241) (6,629,168)
Net Cash Provided By Financing Activities 4,567,110 1,048,863
Net increase/(decrease) in cash and cash equivalents 882,535 (650,752)
Cash and cash equivalents at the beginning of the period 2,361,059 3,011,811
Cash and cash equivalents at the end of the period 3,243,594 2,361,059
Cash transactions:    
Cash paid during the period for interest 23,542 22,885
Cash paid (received) during the year from income taxes, net of refunds $ 0 $ (104,456)

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