Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities:    
Net loss $ (55,616) $ (2,279,353)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense related to employee stock options 5,446 5,446
Stock issued to directors as compensation 0 18,000
Depreciation and amortization 33,935 44,196
Noncash operating lease expense 172,161 173,556
Gain on debt extinguishment (1,836,780) 0
Changes in operating assets and liabilities:    
Accounts receivable, net 6,758 700,666
Inventories, net 533,648 (95,154)
Prepaid expenses (474,370) 3,883
Deposits 0 10,130
Accounts payable 84,733 (71,060)
Accrued royalties – long-term (105,000) 500,000
Accrued liabilities 235,124 275,350
Contract liabilities 232,825 (56,430)
Contract assets (76,772) 142,241
Operating lease liabilities (180,134) (166,918)
Accrued income tax payable 7,509 0
Income taxes receivable 105,745 (307)
Net Cash Used In Operating Activities (1,310,788) (795,754)
Cash Flows From Financing Activities:    
Proceeds from note payable 913,063 913,063
Proceeds from line of credit 5,357,000 5,425,000
Payments on line of credit (5,357,996) (5,984,030)
Net Cash Provided By Financing Activities 912,067 354,033
Net decrease in cash and cash equivalents (398,721) (441,721)
Cash, cash equivalents at the beginning of the period 3,011,811 3,300,600
Cash and cash equivalents at the end of the period 2,613,090 2,858,879
Cash transactions:    
Cash paid during the period for interest $ 18,643 $ 28,137