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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net income $ 1,376,000 $ 1,504,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 488,000 583,000
Impairment of digital assets 42,000
Gain on sale of assets (5,000)
Stock-based compensation expense 38,000 102,000
Deferred tax expense / (benefit) 15,000 (59,000)
Bad debt expense 39,000 40,000
Changes in operating assets and liabilities:    
Accounts receivable (158,000) (713,000)
Inventory (232,000) (107,000)
Prepaid expenses and other assets (32,000) (682,000)
Accounts payable 82,000 503,000
Accrued expenses and other current liabilities 584,000 1,560,000
Deferred revenue 435,000 240,000
Right of use assets and liabilities, net (17,000) (7,000)
Net cash provided by operating activities 2,613,000 3,006,000
Investing activities:    
Investment in BlueTrace (200,000)
Purchase of digital assets (178,000)
Purchases of property, equipment and software development costs (87,000) (41,000)
Net cash used in investing activities (287,000) (219,000)
Financing activities:    
Repayments of finance lease obligations (9,000) (7,000)
Proceeds from stock option exercise 49,000 19,000
Stock repurchase under Stock Buyback Plan (2,921,000) (2,207,000)
Net cash used in financing activities (2,881,000) (2,195,000)
Net change in cash (555,000) 592,000
Cash at beginning of period 4,368,000 5,414,000
Cash at end of period $ 3,813,000 $ 6,006,000