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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (698,004) $ (583,137)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 323,405 306,032
Gain on disposal of equipment (36,886) 0
Deferred income taxes (176,830) (43,000)
Changes in operating assets and liabilities    
Accounts receivable (1,187,835) (1,197,937)
Contract assets 118,301 0
Inventories 580,978 (877,722)
Other current assets (78,333) (160,452)
Accounts payable 599,625 924,168
Accrued wages and salaries 119,473 212,746
Other accrued expenses 183,149 (212,227)
Unearned revenue and customer deposits (145,802) (19,881)
Net cash used in operating activities (398,759) (1,651,410)
Cash flows from investing activities    
Capital expenditures (93,085) (413,419)
Proceeds from the sale of equipment 96,350 0
Proceeds from short-term investments 1,133,641 498,000
Purchases of short-term investments (737,477) 0
Net cash provided by investing activities 399,429 84,581
Cash flows from financing activities    
Cash dividends paid (96,613) (212,549)
Net cash used in financing activities (96,613) (212,549)
Net decrease in cash and cash equivalents (95,943) (1,779,378)
Cash and cash equivalents at beginning of period 1,387,075 4,045,101
Cash and cash equivalents at end of period $ 1,291,132 $ 2,265,723