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Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net income $ 1,605,000 $ 652,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 131,000 135,000
Provision for sales returns and doubtful accounts 1,000 5,000
Stock based compensation 23,000 19,000
Forgiveness of PPP loan (163,000) 0
Changes in assets and liabilities:    
Accounts receivable (347,000) 295,000
Inventories (430,000) 204,000
Prepaid expenses and other current assets (93,000) (1,000)
Accounts payable 649,000 39,000
Accrued liabilities 48,000 119,000
All other operating activities (1,000) 0
Total adjustments (182,000) 815,000
Net cash provided by operating activities 1,423,000 1,467,000
Investing activities:    
Acquisition of property and equipment (16,000) (13,000)
Purchase of short-term investments (1,423,000) 0
Net cash used for investing activities (1,439,000) (13,000)
Financing activities:    
Proceeds from PPP loan 0 163,000
Dividend payments (701,000) (607,000)
Proceeds from stock options exercised 56,000 59,000
Net cash used for financing activities (645,000) (385,000)
Impact of exchange rates on cash (25,000) (5,000)
Net increase in cash and cash equivalents (686,000) 1,064,000
Cash and cash equivalents, beginning of period 6,652,000 5,313,000
Cash and cash equivalents, end of period 5,966,000 6,377,000
Supplemental disclosures of cash flow information:    
Cash paid for interest 0 0
Cash paid for income taxes, net 4,000 3,000
Supplemental disclosures of non-cash financing activities:    
On June 4, 2021, PPP loan was forgiven in full by SBA $ 163,200 $ 0