v3.19.3
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 644,606 $ 1,265,703
Adjustments to reconcile net income to net cash (used in)/provided by operating activities:    
Stock based compensation expense 897,300 154,925
Depreciation and amortization 252,594 228,900
Deferred capital gain - building lease (3,763) (16,860)
Deferred taxes 134,563 10,834
Gain on disposal of fixed asset (49,740) (6,000)
Changes in operating assets and liabilities:    
(Increase)/Decrease in accounts receivable (2,120,780) 351,319
Increase in inventory (634,803) (290,722)
Increase in prepaid expense and other assets (206,560) (177,346)
Increase in accounts payable 421,479 137,521
Decrease in accrued payroll and related taxes (310,355) (213,700)
Increase/(Decrease) in accrued expense 490,053 (30,823)
Decrease in accrued tax liability (16,608) (60,852)
NET CASH (USED IN)/PROVIDED BY OPERATING ACTIVITIES (502,014) 1,352,899
CASH FLOWS FROM INVESTING ACTIVITIES    
Payments for capital expenditures (158,193) (188,006)
Purchase of certificate of deposit (1,500,000)
Payments for patents (188,274) (137,858)
Proceeds on disposal of fixed asset 217,821 6,000
Proceeds from certificates of deposit 1,517,927 92,266
NET CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES 1,389,281 (1,727,598)
CASH FLOWS FROM FINANCING ACTIVITIES    
Stock issuances 508,900 51,250
Payment for cancelled shares (2,820) (1,755)
Finance lease (3,122)  
NET CASH PROVIDED BY FINANCING ACTIVITIES 502,958 49,495
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 1,390,225 (325,204)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 3,738,803 3,974,536
CASH AND CASH EQUIVALENTS, END OF PERIOD 5,129,028 3,649,332
Cash paid during the periods for:    
Interest 280  
Taxes 103,465 378,000
NON-CASH FINANCING AND INVESTING ACTIVITIES    
Issuance of common stock as compensation $ 256,525 $ 103,333

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