XML 20 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities:    
Net income $ 2,295,000 $ 1,063,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 148,000 224,000
Software amortization 780,000 736,000
Stock-based compensation 226,000 224,000
Deferred income tax benefit 884,000 (489,000)
Forgiveness of PPP Loan (931,000) 0
Loss on disposal of assets 4,000 5,000
Changes in operating assets and liabilities:    
Accounts receivable, net (108,000) 865,000
Inventories (659,000) 10,000
Prepaid expenses and other current assets 125,000 (16,000)
Accounts payable (310,000) 187,000
Accrued expenses and other current liabilities 108,000 (249,000)
Net cash provided by operating activities 2,562,000 2,560,000
Investing activities:    
Capitalized software development costs (485,000) (22,000)
Purchases of property and equipment (2,087,000) (129,000)
Net cash used for investing activities (2,572,000) (151,000)
Financing activities:    
Dividend distributions (1,932,000) 0
Proceeds from PPP loan 0 924,000
Stock for tax withholding (35,000) (6,000)
Proceeds from long-term debt 1,743,000 0
Deferred finance fees (13,000) 0
Proceeds from stock options exercised 8,000 0
Net cash provided by (used for) financing activities (229,000) 918,000
Effect of exchange rate changes on cash (137,000) 160,000
Increase (decrease) in cash and cash equivalents (376,000) 3,487,000
Cash and cash equivalents at beginning of period 8,605,000 5,118,000
Cash and cash equivalents at end of period 8,229,000 8,605,000
Non-Cash investing and financing activities:    
Purchase of property and equipment in accounts payable $ 0 $ 1,000