XML 18 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,491,977 $ 1,442,815
Adjustments to reconcile net income to net cash    
Depreciation and accretion 305,480 325,793
Amortization of right of use asset 66,340 61,756
Amortization of patents 3,311 3,311
Stock based compensation 40,642 39,233
Loss (gain) on disposal of equipment (5,959) 4,511
Deferred tax asset 288,000 316,185
Gain on extinguishment of debt   (325,300)
Inventory reserve (15,925) 900
Changes in operating assets and liabilities:    
Accounts receivable (156,805) (298,706)
Inventories (363,445) (802,569)
Prepaid expenses 586,565 31,810
Other assets   2,656
Accounts payable 256,365 165,371
Operating lease obligations (72,184) (65,915)
Accrued expenses and customer deposits (384,601) 887,869
Net cash provided by operating activities 2,051,679 1,780,698
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds on sale of equipment 5,166 18,091
Purchases of property and equipment (511,399) (615,088)
Net cash used in investing activities (506,233) (596,997)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on finance lease obligations and notes payable (72,131) (123,715)
Payment of cumulative dividends on preferred stock   (24,152)
Net cash used in financing activities (72,131) (147,867)
NET INCREASE IN CASH 1,473,315 1,035,834
CASH - Beginning of year 4,140,942 2,917,551
CASH - End of period 5,614,257 3,953,385
Cash paid during the period for:    
Interest 6,846 9,256
Income taxes 17,986 22,097
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Increase in asset retirement obligation $ 5,175 $ 5,175