XML 16 R6.htm IDEA: XBRL DOCUMENT v3.19.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (570,742) $ 14,598
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation 321,062 395,787
Amortization 24,308 18,615
Stock based compensation 3,840 6,473
Net gain on sale and disposal of property and equipment (8,481)
Deferred income taxes 12,839
Loss on intangible asset abandonment 71,600
Changes in working capital components:    
Trade receivables (8,230) 321,347
Inventories (465,661) (385,481)
Prepaid expenses and other assets 113,037 (16,184)
Income tax receivable (182,451) (1,365)
Accounts payable (114,104) 508,323
Accrued expenses 46,897 2,962
Net cash (used in) provided by operating activities (768,925) 877,914
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (230,570) (324,392)
Proceeds from sales of property and equipment 15,596
Purchases of intangibles assets (6,322) (32,354)
Purchases of short-term investments (3,185,000) (2,920,000)
Proceeds on sale of short-term investments 2,940,000 2,895,000
Net cash used in investing activities (466,296) (381,746)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment on long-term debt (69,761) (70,040)
Repurchase of common stock (20,969)
Net cash used in financing activities (90,730) (70,040)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (1,325,951) 426,128
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 1,623,137 929,700
CASH AND CASH EQUIVALENTS AT END OF PERIOD 297,186 1,355,828
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 39,812 36,711
Cash paid for income taxes, net $ 9,315 $ 7,652