Quarterly report pursuant to Section 13 or 15(d)

STATEMENTS OF CASH FLOWS (UNAUDITED)

v3.7.0.1
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 4 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (Loss) $ 360,833 $ (205,882)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Amortization of deferred compensation cost 7,000
Stock based compensation expense 7,615 69,714
Depreciation and amortization 102,357 96,577
Deferred capital gain - building lease (7,493) (7,493)
Deferred taxes 12,711 (15,144)
Provision for returns and doubtful accounts (5,000) (10,312)
Changes in operating assets and liabilities:    
Increase in accounts receivable (392,592) (376,551)
Decrease in inventory 86,489 1,575
Decrease/(Increase) in prepaid expense and other assets 118,652 (108,855)
(Decrease)/Increase in accounts payable (493,297) 186,109
Increase/(Decrease) in accrued payroll and related taxes 35,065 (21,489)
Decrease in accrued expense (63,360) (67,383)
Increase/(Decrease) in accrued tax liability 1,384 (92,003)
NET CASH USED IN OPERATING ACTIVITIES (236,636) (544,137)
CASH FLOWS FROM INVESTING ACTIVITIES    
Payments for property and equipment (63,133) (74,549)
Payments for patents (11,628) (29,085)
NET CASH USED IN INVESTING ACTIVITIES (74,761) (103,634)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payment for cancelled shares (19,360)
Purchase of treasury stock (1,105)
NET CASH USED IN FINANCING ACTIVITIES (19,360) (1,105)
NET DECREASE IN CASH AND CASH EQUIVALENTS (330,757) (648,876)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 3,313,265 4,201,948
CASH AND CASH EQUIVALENTS, END OF PERIOD 2,982,508 3,553,072
Cash paid during the periods for:    
Interest
Taxes 90,000
NON-CASH FINANCING AND INVESTING ACTIVITIES    
Issuance of common stock as compensation $ 45,000 $ 24,718