Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operating Activities:    
Net loss $ (551,504) $ (220,567)
Adjustments to reconcile net loss from operations to cash used in operating activities:    
Stock-based compensation expense 7,501 7,593
Amortization of deferred financing costs 9,474 9,474
Depreciation 16,421 17,181
Amortization 120,840 120,840
Provision for doubtful accounts, net of recoveries 11,625 6,254
Deferred income taxes 102,624 102,624
Changes in assets and liabilities:    
Accounts receivable (520,776) (663,321)
Inventories (304,676) 90,125
Prepaid expenses and other current assets (54,911) (51,637)
Deposits and other long term assets 23,871 238
Accounts payable (224,767) 38,357
Accrued liabilities and expenses 699,794 137,716
Deferred revenue 222,050 45,890
Customer deposits 122,940 (141,719)
Deferred lease liability (7,005) (7,121)
Net Cash Used In Operating Activities (326,499) (508,073)
Cash Flows From Investing Activities:    
Purchase of property and equipment (2,743) (6,345)
Change in restricted cash 31,277 (550)
Net Cash Provided by (Used In) Investing Activities 28,534 (6,895)
Cash Flows From Financing Activities:    
Payments on notes payable (66,697) (158,109)
Proceeds from exercise of warrants 677,501 0
Net (payments) proceeds from line of credit (365,000) 406,652
Net Cash Provided By Financing Activities 245,804 248,543
Net decrease in cash and cash equivalents (52,161) (266,425)
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 899,088 861,647
Cash transactions:    
Cash paid during the period for interest 20,599 37,719
Non-cash transactions:    
Accretion of dividends on redeemable preferred stock $ 0 $ 47,628