v3.20.1
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income/(Loss) $ 449,428 $ (85,390)
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:    
Stock based compensation expense 360,968 298,125
Depreciation and amortization 87,224 83,651
Deferred capital gain - building lease (3,763)
Deferred taxes (63,203) 25,594
Loss on disposal of fixed asset 240
Changes in operating assets and liabilities:    
Increase in accounts receivable (185,160) (1,229,419)
Increase in inventory (700,539) (404,805)
Increase in prepaid expense and other assets (156,288) (40,024)
Increase in accounts payable 524,398 489,593
Increase/(Decrease) in accrued payroll and related taxes 39,571 (173,665)
(Decrease)/Increase in accrued expense (408,294) 11,238
Increase/(Decrease) in accrued tax liability 205,131 (16,608)
NET CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES 153,236 (1,045,233)
CASH FLOWS FROM INVESTING ACTIVITIES    
Payments for capital expenditures (99,591) (41,626)
Purchase certificate of deposit (6,489)
Payments for patents (80,547) (48,718)
NET CASH USED IN INVESTING ACTIVITIES (180,138) (96,833)
CASH FLOWS FROM FINANCING ACTIVITIES    
Line of credit advance 1,500,000
Share issuances 85,500
Payment for cancelled shares (2,820)
Finance lease (1,848) (1,028)
NET CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES 1,583,652 (3,848)
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 1,556,750 (1,145,914)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 5,870,929 3,738,803
CASH AND CASH EQUIVALENTS, END OF PERIOD 7,427,679 2,592,889
Cash paid during the periods for:    
Interest 87 174
Taxes
NON-CASH FINANCING AND INVESTING ACTIVITIES    
Issuance of common stock as compensation $ 60,002 $ 176,250

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