Cash Flow

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities:    
Net loss $ (1,602,598) $ (1,364,179)
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 18,000 72,000
Depreciation and amortization 29,538 33,975
Reserve for inventory obsolescence (92,072) 197,440
Noncash operating lease expense 116,168 118,950
Changes in operating assets and liabilities:    
Accounts receivable 1,409,619 (1,373,964)
Inventories 300,153 (161,194)
Prepaid expenses and other current assets (133,750) 135,721
Deposits 10,130 0
Accounts payable (534,543) 647,256
Accrued liabilities and expenses 63,190 238,997
Contract liability (109,430) (268,707)
Contract assets 144,254 (200,331)
Operating lease liabilities (110,000) (109,791)
Income taxes receivable (397) (5,646)
Net Cash Used In Operating Activities (488,107) (2,035,842)
Cash Flows From Investing Activities:    
Purchase of property and equipment 0 (5,318)
Net Cash Used In By Investing Activities 0 (5,318)
Cash Flows From Financing Activities:    
Proceeds from note payable 913,063 0
Proceeds from line of credit 4,105,000 5,604,000
Payments on line of credit (4,729,347) (4,861,349)
Net Cash Provided By Financing Activities 288,716 742,651
Net decrease in cash and cash equivalents (199,391) (1,298,509)
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 3,101,209 3,380,382
Cash transactions:    
Cash paid during the period for interest $ 23,786 $ 35,650

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