Cash Flow

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net income (loss) $ (517,828) $ 82,739
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense related to employee stock options 1,815 1,815
Depreciation and amortization 9,453 13,240
Noncash operating lease expense 34,398 57,387
Gain on debt extinguishment 0 (920,673)
Changes in operating assets and liabilities:    
Accounts receivable, net (954,690) (142,384)
Inventories, net (249,394) 223,479
Prepaid expenses 397,860 (40,951)
Accounts payable (271,851) (268,338)
Accrued royalties – long-term (35,000) (35,000)
Accrued liabilities 98,790 234,291
Contract liabilities (128) 108,580
Contract assets 10,210 89,520
Operating lease liabilities (38,844) (57,658)
Net Cash Used In Operating Activities (1,515,209) (653,953)
Cash Flows From Financing Activities:    
Proceeds from stock and warrants issued in VDA Transaction 5,000,000 0
Proceeds from line of credit 1,360,000 1,680,000
Payments on line of credit (1,326,953) (1,359,475)
Net Cash Provided By (Used In) Financing Activities 5,033,047 320,525
Net increase (decrease) in cash and cash equivalents 3,517,838 (333,428)
Cash, cash equivalents at the beginning of the period 2,361,059 3,011,811
Cash and cash equivalents at the end of the period 5,878,897 2,678,383
Cash transactions:    
Cash paid during the period for interest $ 5,019 $ 5,875

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