Cash Flow

v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities:    
Net loss $ (3,149,852) $ (1,934,133)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense related to employee stock options 7,262 7,262
Stock issued to directors as compensation 18,000 132,000
Depreciation and amortization 58,853 66,082
Noncash operating lease expense 230,944 237,901
Deferred income taxes 28,021 (28,021)
Changes in operating assets and liabilities:    
Accounts receivable, net 1,418,413 (1,202,296)
Inventories, net (15,188) 417,845
Prepaid expenses 108,886 325,767
Deposits 10,130 0
Accounts payable (222,553) 857,515
Accrued royalties - long-term 500,000 0
Accrued liabilities 35,486 (128,785)
Contract liabilities 288,183 (468,439)
Contract assets 83,131 126,629
Operating lease liabilities (223,835) (219,798)
Income taxes receivable (20,675) (65,375)
Net Cash Used In Operating Activities (844,794) (1,875,846)
Cash Flows From Investing Activities:    
Purchase of property and equipment 0 (5,318)
Net Cash Used In Investing Activities 0 (5,318)
Cash Flows From Financing Activities:    
Proceeds from note payable 913,063 0
Proceeds from line of credit 5,835,000 11,739,000
Payments on line of credit (6,192,058) (11,236,127)
Net Cash Provided (Used in) Financing Activities 556,005 502,873
Net decrease in cash and cash equivalents (288,789) (1,378,291)
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 3,011,811 3,300,600
Cash transactions:    
Cash paid during the year for interest 29,082 83,109
Cash paid (received) during the year for income taxes, net of refunds 11,262 (6,967)
Non-cash transactions:    
Issuance of stock to directors $ 18,000 $ 132,000

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