Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flow (Unaudited)

v3.19.2
Condensed Statements of Cash Flow (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income (loss) $ 637,490 $ (95,361)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Fair value of vested stock options 157,888 128,383
Depreciation and amortization 295,221 154,947
Amortization of operating lease right-of-use asset 239,282
Changes in operating assets and liabilities    
Accounts receivable 1,826,022 (1,173,814)
Inventories (3,653,293) (797,992)
Prepaid expenses (815,385) (298,929)
Deposits (26,705)
Refundable income taxes 484,472
Accounts payable 300,723 (346,997)
Customer deposits 164,917 158,124
Accrued expenses and other current liabilities 647,358 4,616
Decrease in lease liability (222,790)
Net cash provided by (used in) operating activities 61,905 (2,293,728)
Cash flows from investing activities:    
Acquisition of property and equipment (176,483) (138,821)
Net cash used in investing activities (176,483) (138,821)
Cash flows from financing activities:    
Repayment of notes (94,584) (54,578)
Net cash used in financing activities (94,584) (54,578)
Decrease in cash and cash equivalents (209,162) (2,487,127)
Cash and cash equivalents, beginning of period 5,640,078 14,201,163
Cash and cash equivalents, end of period 5,430,916 11,714,036
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Initial recognition of operating lease right-of-use assets and operating lease obligations upon adoption of ASC Topic 842 2,847,495
Reclassification of prepaid expenses to property and equipment $ 113,887