v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES    
Net loss $ (906,420) $ (2,231,515)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization expense 971,712 860,028
Gain on sale of fixed assets (144,078) (193,938)
Bad debt expense 2,622 182,179
Stock awards issued for services 474,881 351,943
Changes in operating assets and liabilities:    
Accounts receivable (904,325) 3,404,439
Income taxes receivable/payable (606,128) (404,304)
Inventories 946,865 714,245
Prepaid expenses and other current assets 532,519 43,099
Deferred tax asset/liability 49,851 44,840
Accounts payable and accrued liabilities 540,322 (2,648,339)
Net Cash Provided by Operating Activities 957,821 122,677
INVESTING ACTIVITIES    
Proceeds from sale of property and equipment 101,169 16,313
Sale (purchase) of investments (881,588) 1,814,070
Purchase of property and equipment (138,562) (1,146,400)
Net Cash Provided by (Used in) Investing Activities (918,981) 683,983
FINANCING ACTIVITIES    
Value of equity awards surrendered by employees for tax liability (42,829) (148,879)
Cash received in exercise of stock options 2,673 2,020
Principal paid towards lease liability (31,911) (45,965)
Net Cash Used in Financing Activities (72,067) (192,824)
Effect of exchange rate changes on cash 14,331 (53,147)
NET CHANGE IN CASH (18,896) 560,689
CASH AT BEGINNING OF PERIOD 9,148,312 7,358,856
CASH AT END OF PERIOD 9,129,416 7,919,545
CASH PAID FOR:    
Interest 2,689 4,946
Income taxes 17,150 402,510
NON-CASH FINANCING AND INVESTING ACTIVITIES    
Common stock issued in settlement of accrued bonuses $ 0 $ 419,373

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