XML 22 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities    
Net income (loss) $ 2,290,000 $ (4,954,000)
Non-cash charges:    
Depreciation 1,788,000 1,787,000
Amortization of other intangible assets 631,000 702,000
Operating lease expense 895,000 899,000
Amortization of debt issue costs 16,000 16,000
Amortization of consideration payable to customer 270,000 270,000
Provision for doubtful accounts 10,000 24,000
Stock-based compensation 5,000 41,000
Restricted stock-based compensation 43,000 41,000
(Loss) gain on sale of fixed assets (27,000) 35,000
Deferred income taxes (120,000) (11,000)
Fair value adjustment of assets held for sale 88,000 0
Gain on contingent consideration settlement 0 (52,000)
Gain on lease obligation settlement 0 (31,000)
Gain on forgiveness of grant obligation (2,929,000) (53,000)
Impairment of assets 0 1,612,000
Changes in operating assets and liabilities:    
Accounts receivable (96,000) 1,835,000
Inventories (5,671,000) 4,538,000
Prepaid expenses and other current assets (1,825,000) (1,341,000)
Accounts payable 726,000 352,000
Accrued compensation and benefits 954,000 (1,498,000)
Accrued other liabilities (264,000) (185,000)
Operating lease liabilities (888,000) (918,000)
Other liabilities (45,000) (62,000)
Total adjustments (6,439,000) 8,001,000
Net cash (used in) provided by operating activities (4,149,000) 3,047,000
Cash Flows from Investing Activities:    
Capital expenditures (642,000) (1,104,000)
Proceeds from sale or disposal of machinery and equipment 58,000 1,000
Net cash used in investing activities (584,000) (1,103,000)
Cash Flows from Financing Activities:    
Dividend payments 0 (157,000)
Proceeds from exercise of stock options 0 18,000
Net proceeds (payments) from short-term borrowings 4,391,000 (4,274,000)
Proceeds from Grant 0 53,000
Proceeds from PPP loan 0 2,929,000
Net cash provided by (used in) financing activities 4,391,000 (1,431,000)
Effect of exchange rate changes on cash (23,000) 11,000
Net (decrease) increase in cash (365,000) 524,000
Cash at beginning of year 904,000 380,000
Cash at end of year 539,000 904,000
Cash paid for:    
Interest 39,000 120,000
Income taxes 22,000 35,000
Cash paid for amounts included in the measurement of operating lease liabilities 10,000 5,000
Supplemental disclosures of non-cash investing and financing activities:    
Right of Use ("ROU") assets recognized for new operating lease liabilities $ 427,000 $ 140,000