Cash Flow

v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net loss $ (2,279,353) $ (2,118,048)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense related to employee stock options 5,446 5,446
Stock issued to directors as compensation 18,000 105,000
Depreciation and amortization 44,196 50,750
Noncash operating lease expense 173,556 178,426
Changes in operating assets and liabilities:    
Accounts receivable, net 700,666 (998,707)
Inventories, net (95,154) 423,339
Prepaid expenses 3,883 204,343
Deposits 10,130 0
Accounts payable (71,060) 596,554
Accrued royalties - long-term 500,000 0
Accrued liabilities and expenses 275,350 (33,874)
Contract liability (56,430) (111,648)
Contract assets 142,241 (108,554)
Operating lease liabilities (166,918) (164,794)
Income taxes receivable (307) (5,641)
Net Cash Used In Operating Activities (795,754) (1,977,408)
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 5,425,000 9,079,000
Payments on line of credit (5,984,030) (8,291,051)
Net Cash Provided By Financing Activities 354,033 787,949
Net decrease in cash and cash equivalents (441,721) (1,194,777)
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 2,858,879 3,484,114
Cash transactions:    
Cash paid during the period for interest $ 28,137 $ 60,580

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