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Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net income $ 3,139,000 $ 1,605,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 81,000 131,000
Provision for sales returns and doubtful accounts 0 1,000
Stock based compensation 18,000 23,000
Forgiveness of PPP loan 0 (163,000)
Deferred income taxes (1,922,000) 0
Loss on short-term investments 511,000 77,000
Changes in assets and liabilities:    
Accounts receivable (274,000) (347,000)
Inventories 488,000 (430,000)
Prepaid expenses and other current assets (69,000) (93,000)
Accounts payable (1,126,000) 649,000
Accrued liabilities (508,000) 48,000
Other assets and liabilities 9,000 (1,000)
Total adjustments (2,792,000) (105,000)
Net cash provided by operating activities 347,000 1,500,000
Investing activities:    
Acquisition of property and equipment 0 (16,000)
Purchase of short-term investments (1,000,000) (1,500,000)
Net cash used for investing activities (1,000,000) (1,516,000)
Financing activities:    
Dividend payments (1,404,000) (701,000)
Proceeds from stock options exercised 208,000 56,000
Net cash used for financing activities (1,196,000) (645,000)
Impact of exchange rates on cash 15,000 (25,000)
Net decrease in cash and cash equivalents (1,834,000) (686,000)
Cash and cash equivalents, beginning of period 5,974,000 6,652,000
Cash and cash equivalents, end of period 4,140,000 5,966,000
Supplemental disclosures of cash flow information:    
Cash paid for interest 0 0
Cash paid for income taxes, net 664,000 4,000
Supplemental disclosures of non-cash financing activities:    
On June 4, 2021, PPP loan was forgiven in full by SBA $ 0 $ 163,200