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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income $ 1,293,000 $ 2,655,000
Adjustments to reconcile net income to net cash provided by(used for) operating activities:    
Depreciation and amortization 76,000 61,000
Stock based compensation 6,000 11,000
Deferred income taxes (5,000) (1,922,000)
Changes in values of marketable securities (538,000) 444,000
Accounts receivable (275,000) (183,000)
Inventories 596,000 220,000
Prepaid expenses and other current assets (201,000) (55,000)
Accounts payable 285,000 (1,009,000)
Accrued liabilities (117,000) (466,000)
Other assets and liabilities 2,000 7,000
Total adjustments (171,000) (2,892,000)
Net cash provided by(used for) operating activities 1,122,000 (237,000)
Investing activities:    
Acquisition of property and equipment 0 (3,000)
Purchase of marketable securities (1,000,000) (1,029,000)
Net cash used for investing activities (1,000,000) (1,032,000)
Financing activities:    
Dividend payments (600,000) (1,134,000)
Proceeds of short-term investments 0 208,000
Net cash used for financing activities (600,000) (926,000)
Impact of exchange rates on cash (2,000) (5,000)
Net decrease in cash and cash equivalents (480,000) (2,200,000)
Cash and cash equivalents, beginning of period 5,217,000 5,974,000
Cash and cash equivalents, end of period 4,737,000 3,774,000
Supplemental disclosures of cash flow information:    
Cash paid for interest 0 0
Cash paid for income taxes, net $ 439,000 $ 386,000