XML 16 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating activities    
Net income $ 1,734,302 $ 859,282
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 244,052 151,924
Depreciation and amortization 209,707 149,069
Deferred income tax expense 23,954 23,955
Changes in operating assets and liabilities:    
Accounts receivable (294,941) (425,529)
Inventories 186,475 (14,795)
Prepaid expenses and other current assets (139,946) 37,691
Other assets (5,000)
Accounts payable and accrued expenses (639,303) (805,158)
Accrued payroll and related expenses (40,759) (10,758)
Net deferred revenue on shipments to distributors 21,324 109,159
Customer deposit (640,440) 800,510
Deferred service revenue (37,692) (62,199)
Change in deferred rent 4,890 16,611
Net cash provided by operating activities 631,623 824,762
Investing activities    
Purchases of equipment (175,080) (278,302)
Net cash used in investing activities (175,080) (278,302)
Financing activities    
Payments on capital leases (24,798) (17,635)
Proceeds from borrowings under bank line of credit agreement 350,000 136,805
Repayments of borrowings under bank line of credit agreement (350,000) (539,574)
Repayments of related party and other short term credit line notes payable (500,000) (100,000)
Stock options exercised 118,068 72,133
Warrants exercised 158,145 131,250
Net cash used in financing activities (248,585) (317,021)
Net increase in cash and cash equivalents 207,958 229,439
Cash and cash equivalents at beginning of period 938,155 632,631
Cash and cash equivalents at end of period 1,146,113 862,070
Supplemental disclosure of cash flow information    
Cash paid for interest 12,873 115,430
Supplemental disclosure of non-cash investing and financing activities    
Equipment purchased under capital lease 64,101
Cashless exercise of warrants $ 35