Cash Flow

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows from Operating Activities:    
Net loss $ (509,081) $ (72,856)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense related to employee stock options 3,630 3,631
Depreciation and amortization 22,427 23,589
Loss / (gain) on fixed asset disposal 456 0
Noncash operating lease expense (ROU) 64,662 114,774
Gain on debt extinguishment 0 (920,673)
Changes in operating assets and liabilities:    
Accounts receivable, net (884,679) (261,106)
Inventories, net (340,615) 511,845
Prepaid expenses (98,432) (487,169)
Deposits 3,000 0
Accounts payable (1,074,047) (105,601)
Accrued royalties – long-term (70,000) (70,000)
Accrued liabilities 80,917 206,766
Contract liabilities 122,832 515,326
Contract assets 245,098 (206,597)
Operating lease liabilities (73,871) (117,962)
Accrued income tax payable (2,000) 7,509
Income taxes receivable 0 105,745
Net Cash Used In Operating Activities (2,509,703) (752,779)
Cash Flows From Financing Activities:    
Proceeds from Note Payable 0 913,063
Proceeds from stock and warrants issued in VDA Transaction 5,000,000 0
Repurchase of employee-owned Series A Preferred Shares (29,801) 0
Payments for property and equipment (82,383) 0
Proceeds from line of credit 3,914,152 3,627,000
Payments on line of credit (3,688,829) (3,544,289)
Net Cash Provided By Financing Activities 5,113,139 995,774
Net increase in cash and cash equivalents 2,603,436 242,995
Cash and cash equivalents at the beginning of the period 2,361,059 3,011,811
Cash and cash equivalents at the end of the period 4,964,495 3,254,806
Cash transactions:    
Cash paid during the period for interest $ 4,020 $ 12,626

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