v3.10.0.1
STATEMENTS OF CASH FLOWS - USD ($)
10 Months Ended 12 Months Ended
Dec. 31, 2017
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 904,957 $ 910,570
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock based compensation expense 108,083 366,081
Depreciation and amortization 257,257 309,263
Gain on sale of fixed asset (4,930)
Deferred capital gain - building lease (18,734) (22,480)
Deferred taxes (60,747) (23,141)
Provision for returns and doubtful accounts 58,941 (39,567)
Changes in operating assets and liabilities:    
Decrease/(Increase) in accounts receivable (418,860) 475,662
Increase in inventory (304,978) (445,198)
(Increase)/Decrease in prepaid expense 5,217 (75,852)
Decrease/(Increase) in other assets (93) 12,000
Decrease in accounts payable (318,030) (900)
Increase in accrued payroll and related taxes 157,885 86,811
Increase in accrued expense 240,703 30,589
(Decrease)/Increase in accrued tax liability 288,311 (99,246)
NET CASH PROVIDED BY OPERATING ACTIVITIES 899,912 1,479,662
CASH FLOWS FROM INVESTING ACTIVITIES    
Payments for capital expenditures (137,817) (297,018)
Payments for patents (80,509) (184,148)
Purchase of certificate of deposit (955) (1,500,000)
Proceeds from certificates of deposit 245,342
Proceeds on sale of fixed assets 6,000
NET CASH USED IN INVESTING ACTIVITIES (219,281) (1,729,824)
CASH FLOWS FROM FINANCING ACTIVITIES    
Stock issuances 51,250
Payment for cancelled shares (19,360) (36,821)
NET CASH PROVIDED BY FINANCING ACTIVITIES (19,360) 14,429
Net (Decrease) Increase in CASH AND CASH EQUIVALENTS 661,271 (235,733)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 3,313,265 3,974,536
CASH AND CASH EQUIVALENTS, END OF YEAR 3,974,536 3,738,803
Cash paid during the years for:    
Interest
Taxes 175,000 378,000
NON-CASH FINANCING AND INVESTING ACTIVITIES    
Issuance of common stock as compensation $ 112,500 $ 118,041

Source