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Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net income (loss) $ 202,902 $ (90,327)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock-based compensation 148,772 132,065
Depreciation and amortization 164,017 147,279
Amortization of debt discount 8,273
Changes in operating assets and liabilities:    
Accounts receivable (294,799) 22,515
Inventories (529,074) (115,811)
Prepaid expenses and other current assets (52,770) 6,045
Accounts payable and accrued expenses 436,940 (91,243)
Accrued payroll and related expenses 167,238 (29,180)
Net deferred revenue on shipments to distributors 65,463 (10,026)
Deferred service revenue (6,976) (8,047)
Net change in operating lease (18,750) (14,060)
Net cash provided by (used in) operating activities 291,236 (50,790)
Investing activities    
Purchases of equipment (163,379) (154,681)
Net cash used in investing activities (163,379) (154,681)
Financing activities    
Payments on finance leases (4,111)
Common stock repurchase and related expenses (8,496)
Proceeds from borrowings under bank line of credit agreement 3,980,000
Repayments of borrowings under bank line of credit agreement (3,452,957)
Proceeds from note payable 1,000,000
Repayments of bank term loan (125,000)
Stock options exercised 1,711,658
Net cash provided by financing activities 2,711,658 389,436
Net increase in cash and cash equivalents 2,839,515 183,965
Cash and cash equivalents at beginning of period 2,121,763 958,860
Cash and cash equivalents at end of period 4,961,278 1,142,825
Supplemental disclosure of cash flow information    
Cash paid for interest 39,327 19,650
Non-cash investing and financing activities    
Conversion of note payable 130,000
Acquisition of intangible assets $ 1,909,433