XML 16 R6.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities:    
Net loss $ (2,552,000) $ (3,654,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 46,000 386,000
Impairment loss 0 159,000
Gain on sale of business (7,000) (195,000)
Changes in allowance for doubtful accounts 34,000 112,000
Stock-based compensation expense 198,000 145,000
Gain on forgiveness of debt and accrued interest (1,062,000) 0
Changes in operating assets and liabilities:    
Accounts receivable 1,620,000 1,810,000
Inventories (2,000) 80,000
Income tax receivable (1,000) (121,000)
Prepaid expenses and other (27,000) (148,000)
Accounts payable (1,655,000) (768,000)
Accrued liabilities 28,000 346,000
Accrued income taxes 26,000 25,000
Deferred revenue 31,000 176,000
Net cash used in operating activities (3,323,000) (1,647,000)
Investing Activities:    
Purchases of property and equipment (81,000) (56,000)
Proceeds from sale of custom print business 0 200,000
Proceeds from sale of property and equipment 16,000 0
Net cash provided by (used in) investing activities (65,000) 144,000
Financing Activities:    
Cash dividends paid ($0.70 per share) (14,000) (14,000)
Proceeds from issuance of common stock, net 26,000 20,000
Repurchase of common stock upon vewsting of restricted stock awards (18,000) (1,000)
Proceeds from PPP loan 0 1,054,000
Net cash provided by (used in) financing activities (6,000) 1,059,000
Decrease in cash and cash equivalents (3,394,000) (444,000)
Cash and cash equivalents and restricted cash at beginning of period 7,128,000 7,510,000
Cash and cash equivalents and restricted cash at end of period 3,734,000 7,066,000
Supplemental disclosures for cash flow information:    
Cash refunded during the period for income taxes 6,000 107,000
Purchases of property and equipment included in accounts payable 13,000 22,000
Common stock issued for accrued liabilities 0 9,000
Receivables recorded from sale of cusom print business 0 100,000
Operating lease right of use asset obtained in exchange for lease obligations 219,000 0
Forgiveness of debt and accrued interest $ 1,062,000 $ 0