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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
3 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 1,371,092 $ (116,234)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 182,678 169,237
Amortization of debt issue costs 8,824 15,141
Stock based compensation expense 33,500 55,500
Change in contract loss provision (69,951) (64,699)
Deferred income taxes 26,580 (37,360)
PPP loan forgiveness (1,317,100)  
Changes in operating assets and liabilities:    
Accounts receivable (547,344) 73,771
Contract assets 716,600 (692,842)
Inventories 239,012 (79,834)
Other current assets 3,607 187,261
Accounts payable (331,079) 370,914
Accrued expenses (389,586) 38,614
Contract liabilities 210,215 (288,712)
Net cash provided by (used in) operating activities 137,048 (369,243)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (4,198) (41,768)
Net cash used in investing activities (4,198) (41,768)
CASH FLOWS FROM FINANCING ACTIVITIES    
Debt issue costs   (8,282)
Proceeds from payroll protection program   1,317,100
Proceeds from revolver loan   1,000,000
Repayment of revolver loan   (1,000,000)
Repayment of long-term debt (27,166) (26,618)
Net cash (used in) provided by financing activities (27,166) 1,282,200
Effect of exchange rate on cash and cash equivalents (20) (6)
Net increase in cash and cash equivalents 105,664 871,183
Cash and cash equivalents, beginning of period 2,130,711 930,856
Cash and cash equivalents, end of period 2,236,375 1,802,039
Cash paid during the year for:    
Interest $ 32,746 $ 40,024