XML 19 R6.htm IDEA: XBRL DOCUMENT v3.21.1
Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities    
Net income (loss) $ (3,278,601) $ 286,586
Adjustments to reconcile net loss to net cash provided by operating activities:    
Stock-based compensation 507,051 519,891
Depreciation and amortization 596,900 462,930
Deferred tax expenses (benefits) 274,004
Forgiveness of PPP loan 1,058,700
Amortization of debt discount 11,030
Goodwill impairment charges 4,427,000
Changes in operating assets and liabilities:    
Accounts receivable 724,492 (469,829)
Inventories (16,934) (906,580)
Prepaid expenses and other current assets (23,259) (4,295)
Other long-term assets (1,320)
Accounts payable and accrued expenses (712,147) 551,392
Accrued payroll and related expenses (190,839) 54,043
Net deferred revenue on shipments to distributors (96,631) 145,256
Deferred service revenue (19,295) 8,676
Net cash provided by operating activities 804,445 873,534
Investing activities    
Purchase of equipment (536,481) (595,154)
Capitalized software costs (7,800)
Net cash used in investing activities (536,481) (602,954)
Financing activities    
Payments on operating leases (8,291) (15,696)
Common stock repurchase and related expenses (8,480)
Proceeds from borrowings under bank line of credit agreement 5,630,000 17,423,000
Repayments of borrowings under bank line of credit agreement (7,042,449) (17,327,329)
Repayments of bank term loan (333,333) (500,000)
Proceeds from notes payable 1,208,700
Repayments of notes payable (150,000)
Proceeds from subordinated convertible notes payable, net of discount 168,321
Proceeds from subordinated convertible notes payable, net of discount-related party 1,262,406
Proceeds from stock options exercised 168,065 23,314
Net cash provided by (used in) financing activities 894,939 (396,711)
Net increase (decrease) in cash and cash equivalents 1,162,903 (126,131)
Cash and cash equivalents at beginning of year 958,860 1,084,991
Cash and cash equivalents at end of year 2,121,763 958,860
Supplemental cash flow information    
Cash paid for interest 94,417 100,048
Cash paid for income taxes $ 4,918 $ 800