XML 17 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Statements of Cash Flows (Unaudited) (USD $) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net income (loss) $ (858,350) $ 131,629
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock-based compensation 263,434 259,000
Depreciation and amortization 290,498 217,664
Deferred tax expenses (benefits) 74,619
Changes in operating assets and liabilities:    
Accounts receivable 1,066,894 (550,425)
Inventories (74,801) (123,005)
Prepaid expenses and other current assets 56,788 (278,629)
Accounts payable and accrued expenses (253,163) (110,835)
Accrued payroll and related expenses (108,172) 133,808
Net deferred revenue on shipments to distributors (98,493) 107,166
Deferred service revenue (12,143) 20,766
Net change in operating lease (28,121) (19,099)
Net cash provided by (used in) operating activities 244,371 (137,341)
Investing activities    
Purchases of equipment (256,183) (187,458)
Net cash used in investing activities (256,183) (187,458)
Financing activities    
Payments on finance leases (8,291) (7,680)
Common stock repurchase and related expenses (8,025)
Proceeds from borrowings under bank line of credit agreement 4,630,000 8,754,000
Repayments of borrowings under bank line of credit agreement (5,592,449) (8,240,804)
Repayments of bank term loan (250,000) (250,000)
Proceeds from notes payable 1,208,700
Net cash (used in) provided by financing activities (20,065) 255,516
Net decrease in cash and cash equivalents (31,877) (69,283)
Cash and cash equivalents at beginning of period 958,860 1,084,991
Cash and cash equivalents at end of period 926,983 1,015,708
Supplemental disclosure of cash flow information    
Cash paid for interest $ 30,640 $ 54,528