Cash Flow

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows from Operating Activities:    
Net loss $ (1,364,179) $ (1,390,748)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense related to employee stock options 3,631 3,061
Stock issued to directors as compensation 72,000 36,000
Depreciation and amortization 33,975 33,543
Provision for doubtful accounts, net of recoveries 19,174 (75)
Reserve for inventory obsolescence 197,440 (5,900)
Noncash operating lease expense 118,950 0
Changes in operating assets and liabilities:    
Accounts receivable (1,393,138) (373,066)
Inventories (161,194) 282,868
Prepaid expenses and other current assets 135,721 (452,538)
Accounts payable 647,256 (17,997)
Accrued liabilities and expenses 238,997 65,966
Contract liability (268,707) (368,436)
Contract assets (200,331) (4,684)
Operating lease liability (109,791) 0
Income taxes receivable (5,646) 0
Deferred lease liability 0 13,002
Net Cash Used In Operating Activities (2,035,842) (2,179,004)
Cash Flows From Investing Activities:    
Purchase of property and equipment (5,318) (7,493)
Net Cash Used In Investing Activities (5,318) (7,493)
Cash Flows From Financing Activities:    
Proceeds from line of credit 5,604,000 200,000
Payments on line of credit (4,861,349) (882,211)
Net Cash Provided (Used in) Financing Activities 742,651 (682,211)
Net decrease in cash and cash equivalents (1,298,509) (2,868,708)
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 3,380,382 6,326,887
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest $ 35,650 $ 17,554

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