v3.19.1
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (Loss)/Income $ (85,390) $ 403,427
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock based compensation expense 298,125 45,933
Depreciation and amortization 83,651 74,578
Deferred capital gain - building lease (3,763) (5,620)
Deferred taxes 25,594 2,329
Loss on disposal of fixed asset 240
Changes in operating assets and liabilities:    
(Increase)/Decrease in accounts receivable (1,229,419) 7,307
Increase in inventory (404,805) (141,868)
Increase in prepaid expense and other assets (40,024) (32,563)
Increase in accounts payable 489,593 95,366
Decrease in accrued payroll and related taxes (173,665) (138,275)
Increase/(Decrease) in accrued expense 11,238 (319,139)
Decrease in accrued tax liability (16,608) (4,589)
NET CASH USED IN OPERATING ACTIVITIES (1,045,233) (13,114)
CASH FLOWS FROM INVESTING ACTIVITIES    
Payments for capital expenditures (41,626) (4,145)
(Purchase)/proceeds from certificate of deposit (6,489) 104,360
Payments for patents (48,718) (28,482)
NET CASH (USED IN)/PROVIDED BY INVESTING ACTIVITIES (96,833) 71,733
CASH FLOWS FROM FINANCING ACTIVITIES    
Payment for cancelled shares (2,820)
Finance lease (1,028)
NET CASH USED IN FINANCING ACTIVITIES (3,848)
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS (1,145,914) 58,619
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 3,738,803 3,974,536
CASH AND CASH EQUIVALENTS, END OF PERIOD 2,592,889 4,033,155
Supplemental Information    
Interest 174
Taxes 110,000
NON-CASH FINANCING AND INVESTING ACTIVITIES    
Issuance of common stock as compensation $ 176,250 $ 33,750

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