v3.19.2
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (Loss)/Income $ (7,207) $ 879,150
Adjustments to reconcile net (loss)/income to net cash (used in)/provided by operating activities:    
Stock based compensation expense 529,538 94,170
Depreciation and amortization 169,820 150,556
Deferred capital gain - building lease (3,763) (11,240)
Deferred taxes 66,494 (941)
Gain on disposal of fixed asset (49,740)  
Changes in operating assets and liabilities:    
(Increase)/Decrease in accounts receivable (1,867,342) 21,855
Increase in inventory (467,706) (59,613)
Decrease/(Increase) in prepaid expense and other assets 44,874 (85,149)
Increase in accounts payable 76,882 257,549
Decrease in accrued payroll and related taxes (249,730) (147,597)
Increase/(Decrease) in accrued expense 346,181 (118,587)
Decrease in accrued tax liability (72,210) (24,366)
NET CASH (USED IN)/PROVIDED BY OPERATING ACTIVITIES (1,483,909) 955,787
CASH FLOWS FROM INVESTING ACTIVITIES    
Payments for capital expenditures (67,079) (93,185)
Purchase of certificate of deposit (1,500,000)
Reinvested earnings on certificate of deposit (4,818)
Payments for patents (136,182) (64,436)
Proceeds on disposal of fixed asset 217,821
Proceeds from certificates of deposit 1,517,927 103,807
NET CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES 1,532,487 (1,558,632)
CASH FLOWS FROM FINANCING ACTIVITIES    
Stock issuances 24,700 51,250
Payment for cancelled shares (2,820) (1,755)
Finance lease (2,069)  
NET CASH PROVIDED BY FINANCING ACTIVITIES 19,811 49,495
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 68,389 (553,350)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 3,738,803 3,974,536
CASH AND CASH EQUIVALENTS, END OF PERIOD 3,807,192 3,421,186
Cash paid during the periods for:    
Interest 233  
Taxes   260,000
NON-CASH FINANCING AND INVESTING ACTIVITIES    
Issuance of common stock as compensation $ 212,898 $ 67,500

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