v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES    
Net income (loss) $ 2,122,738 $ (906,420)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 831,036 971,712
Gain on sale of property and equipment (314,059) (144,078)
Gain on sale of intangibles (9,511) 0
Bad debt expense 40,948 2,622
Stock awards issued for services 605,955 474,881
Changes in operating assets and liabilities:    
Accounts receivable (2,620,155) (904,325)
Income taxes receivable/payable 1,130,931 (606,128)
Inventories (3,190,546) 946,865
Prepaid expenses and other current assets (1,668,442) 532,519
Deferred tax asset/liability 307,663 49,851
Accounts payable and accrued liabilities 1,566,810 540,322
Net Cash Provided by (Used in) Operating Activities (1,196,632) 957,821
INVESTING ACTIVITIES    
Proceeds from sale of property and equipment 464,574 101,169
Proceeds from sale of intangibles 85,000 0
Purchase of investments (133,371) (881,588)
Purchase of property and equipment (370,791) (138,562)
Net Cash Provided by (Used in) Investing Activities 45,412 (918,981)
FINANCING ACTIVITIES    
Value of equity awards surrendered by employees for tax liability (94,802) (42,829)
Cash received in exercise of stock options 31,084 2,673
Purchase of treasury stock (1,228,731) 0
Principal paid towards lease liability (28,145) (31,911)
Net Cash Used in Financing Activities (1,320,594) (72,067)
Effect of exchange rate changes on cash (76,591) 14,331
NET DECREASE IN CASH (2,548,405) (18,896)
CASH AT BEGINNING OF PERIOD 8,188,270 9,148,312
CASH AT END OF PERIOD 5,639,865 9,129,416
CASH PAID FOR:    
Interest 2,331 2,689
Income taxes 21,000 17,150
NON-CASH FINANCING AND INVESTING ACTIVITIES    
Common stock issued in settlement of accrued bonuses $ 212,787 $ 0

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