XML 16 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net income $ 875,731 $ 1,065,252
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 203,086 150,822
Depreciation and amortization 159,105 132,970
Deferred income tax expense 613,989 15,969
Changes in operating assets and liabilities:    
Accounts receivable (223,245) (86,424)
Inventories (696,709) 446,845
Prepaid expenses and other current assets (247,529) (110,870)
Other assets 11,640 (5,000)
Accounts payable and accrued expenses (71) (620,481)
Accrued payroll and related expenses (26,979) (42,383)
Net deferred income on shipments to distributors 35,921 170,333
Customer deposit (640,440)
Deferred service revenue (420) (25,092)
Change in deferred rent (2,086) 5,933
Net cash provided by operating activities 702,433 457,434
Investing activities    
Purchases of equipment (87,738) (98,905)
Net cash used in investing activities (87,738) (98,905)
Financing activities    
Payments on capital leases (12,961) (18,523)
Proceeds from borrowings under bank line of credit agreement 350,000
Repayments of borrowings under bank line of credit agreement (350,000)
Repayments of related party notes payable (500,000)
Stock options exercised 213,671 117,609
Warrants exercised 158,145
Net cash provided by (used in) financing activities 200,710 (242,769)
Net increase in cash and cash equivalents 815,405 115,760
Cash and cash equivalents at beginning of period 1,319,006 938,155
Cash and cash equivalents at end of period 2,134,411 1,053,915
Supplemental disclosure of cash flow information    
Cash paid for interest 1,857 11,738
Supplemental disclosure of non-cash investing and financing activities    
Cashless exercise of warrants $ 35