Cash Flow

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:    
Net loss $ (72,856) $ (1,602,598)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense related to employee stock options 3,631 3,631
Stock issued to directors as compensation 0 18,000
Depreciation and amortization 23,589 29,538
Noncash operating lease expense 114,774 116,168
Gain on debt extinguishment (920,673) 0
Changes in operating assets and liabilities:    
Accounts receivable, net (261,106) 1,409,619
Inventories, net 511,845 208,081
Prepaid expenses (487,169) (133,750)
Deposits 0 10,130
Accounts payable (105,601) (534,543)
Accrued royalties – long-term (70,000) 0
Accrued liabilities 206,766 63,190
Contract liabilities 515,326 (109,430)
Contract assets (206,597) 144,254
Operating lease liabilities (117,962) (110,000)
Accrued income tax payable 7,509 0
Income taxes receivable 105,745 (397)
Net Cash Used In Operating Activities (752,779) (488,107)
Cash Flows From Financing Activities:    
Proceeds from note payable 913,063 913,063
Proceeds from line of credit 3,627,000 4,105,000
Payments on line of credit (3,544,289) (4,729,347)
Net Cash Provided By Financing Activities 995,774 288,716
Net increase (decrease) in cash and cash equivalents 242,995 (199,391)
Cash, cash equivalents at the beginning of the period 3,011,811 3,300,600
Cash and cash equivalents at the end of the period 3,254,806 3,101,209
Cash transactions:    
Cash paid during the period for interest $ 12,626 $ 23,786

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