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STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net income $ 9,630,959 $ 6,303,450 $ 499,764
Adjustments to reconcile net income to net cash provided by operating activities:      
Change in allowance for doubtful accounts 31,338 15,833 (7,083)
Change in provision for excess and obsolete inventory 48,114 111,790 69,199
Depreciation and amortization 1,242,325 1,105,003 1,308,738
Write-off of non-trade accounts receivable     205,444
Stock-based compensation 1,854,965 1,764,319 2,454,363
Deferred income taxes, net (596,755) (144,430) (150,657)
(Gain) loss on maturities of investments (10,764) 28,036 6,757
Changes in operating assets and liabilities:      
Accounts receivable (3,114,649) (446,896) (201,591)
Inventory 123,680 (121,591) (334,113)
Prepaid expenses and other current assets (487,650) (407,461) (1,161,964)
Other assets (171,002) 65,135 (13,860)
Accounts payable 149,319 34,161 (523,449)
Accrued payroll and benefits 363,888 289,985 477,070
Other accrued taxes 463,576 23,498 (9,592)
Warranty reserve 7,237 13,986 19,633
Deferred revenue 700,348 (5,885) 944,632
Other current liability   (150) (12,063)
Prepaid income taxes, net of accrued income taxes (3,055) (1,252,768) (155,310)
Other 859    
Net cash provided by operating activities 10,232,733 7,376,015 3,415,918
Investing activities:      
Purchases of investments   (1,124,512) (2,693,739)
Proceeds from maturity of investments 3,687,000 2,905,000 2,495,004
Purchases of property and equipment (368,281) (228,315) (775,574)
Capitalized intangible assets (117,531) (36,350) (49,189)
Net cash provided by (used in) investing activities 3,201,188 1,515,823 (1,023,498)
Financing activities:      
Proceeds from stock option and warrant exercises 2,493,315 1,239,435 76,366
Taxes paid for the net share settlement of restricted stock units (473,143) (309,561) (158,140)
Purchases of treasury stock     (1,818,541)
Net cash provided by (used in) financing activities 2,020,172 929,874 (1,900,315)
Net increase in cash and cash equivalents 15,454,093 9,821,712 492,105
Cash and cash equivalents, beginning of year 28,027,688 18,205,976 17,713,871
Cash and cash equivalents, end of year 43,481,781 28,027,688 18,205,976
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 12,000 1,375,714 1,205,028
Right-of-use asset recognized in exchange for new lease obligation 3,182,724    
Operating and short-term lease payments recorded within cash flow from operating activities $ 428,176 $ 418,772 $ 409,378