XML 44 R5.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net income (loss) $ 225,927 $ (408,528)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock-based compensation 392,008 361,674
Depreciation and amortization 333,451 314,770
Changes in deferred taxes 112,068 (151,215)
Changes in operating assets and liabilities:    
Accounts receivable (695,032) 155,653
Inventories (255,910) 305,053
Prepaid expenses and other assets (98,477) 72,093
Accounts payable and accrued expenses 256,535 91,850
Accrued payroll and related expenses 122,151 (102,234)
Net deferred income on shipments to distributors 132,797 (4,777)
Deferred service revenue 14,807 (1,920)
Net change in operating lease (33,160) (19,976)
Net cash provided by operating activities 507,165 612,443
Investing activities    
Purchases of equipment (437,083) (388,802)
Net cash used in investing activities (437,083) (388,802)
Financing activities    
Payments on financing leases (11,655) (21,289)
Proceeds from borrowings under bank line of credit agreement 13,038,000 9,416,353
Repayments of borrowings under bank line of credit agreement (12,925,817) (7,889,663)
Proceeds from bank term loan 4,000,000
Repayments of bank term loan (375,000) (3,041,667)
Common stock repurchases and related expenses (5,021,830)
Stock options exercised 514 279,177
Net cash used in financing activities (273,958) (2,278,919)
Net decrease in cash and cash equivalents (203,876) (2,055,278)
Cash and cash equivalents at beginning of period 1,084,991 3,379,508
Cash and cash equivalents at end of period 881,115 1,324,230
Supplemental disclosure of cash flow information    
Cash paid for interest 81,060 86,754
Cash paid for income taxes