Cash Flow

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net loss $ (652,501) $ (845,604)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense related to employee stock options 1,815 1,815
Stock issued to directors as compensation 18,000 36,002
Depreciation and amortization 14,795 16,931
Reserve for inventory obsolescence (91,994) 171,901
Noncash operating lease expense 58,779 59,476
Changes in operating assets and liabilities:    
Accounts receivable 960,997 (1,465,002)
Inventories 423,255 5,061
Prepaid expenses and other current assets (89,314) 15,020
Deposits and other long term assets 10,130 0
Accounts payable (581,746) 462,605
Accrued liabilities and expenses (84,970) 187,127
Contract liability (157,064) (169,347)
Contract assets 115,356 (131,913)
Operating lease liability (55,029) (54,788)
Income taxes receivable (397) (5,641)
Net Cash Used In Operating Activities (109,888) (1,716,357)
Cash Flows From Investing Activities:    
Purchase of property and equipment 0 (2,302)
Net Cash Used In By Investing Activities 0 (2,302)
Cash Flows From Financing Activities:    
Proceeds from line of credit 2,820,000 2,339,000
Payments on line of credit (2,925,884) (1,553,234)
Net Cash (Used In) Provided By Financing Activities (105,884) 785,766
Net decrease in cash and cash equivalents (215,772) (932,893)
Cash and cash equivalents at the beginning of the period 3,300,600 4,678,891
Cash and cash equivalents at the end of the period 3,084,828 3,745,998
Cash transactions:    
Cash paid during the period for interest $ 15,565 $ 10,937

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