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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net Income (Loss) $ (2,002,484) $ (2,858,685)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities    
Depreciation 969,958 920,430
Gain on disposal of equipment (36,886) (31,500)
Deferred income taxes 485,739 (703,599)
Changes in operating assets and liabilities    
Accounts receivable (330,918) (831,171)
Contract assets 118,301  
Inventories (77,129) 326,034
Other current assets 87,886 (97,553)
Accounts payable 471,337 310,567
Accrued wages and salaries 107,838 316,609
Other accrued expenses 171,010 (180,486)
Unearned revenue and customer deposits (58,047) 96,308
Net cash (used in) provided by operating activities (93,395) (2,733,046)
Cash flows from investing activities    
Capital expenditures (709,396) (949,862)
Proceeds from the sale of equipment 96,350 31,500
Proceeds from short-term investments 3,000,815 2,591,000
Purchases of short-term investments (1,726,284) (100,000)
Net cash provided by investing activities 661,485 1,572,638
Cash flows from financing activities    
Cash dividends paid (289,840) (521,711)
Net cash used in financing activities (289,840) (521,711)
Net increase (decrease) in cash and cash equivalents 278,250 (1,682,119)
Cash and cash equivalents at beginning of period 1,387,075 4,045,101
Cash and cash equivalents at end of period $ 1,665,325 $ 2,362,982