XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows used in operating activities    
Net loss $ (3,218,000) $ (4,784,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Gain on settlement of debt
Deferred tax benefits (109,000) (109,000)
Unrealized (gain) loss on the fair value of investments in bonds held to maturity (145,000) 63,000
Accretion of bond discount (10,000) (137,000)
Stock-based compensation 682,000 1,257,000
Stock issuance commitments
Provision for bad debt 104,000 38,000
Recovery of bad debt (68,000) (6,000)
Inventory valuation adjustments 434,000 304,000
Amortization of right-of-use assets, operating assets 229,000 135,000
Depreciation and amortization 690,000 602,000
Changes in assets and liabilities    
Accounts receivable (784,000) 323,000
Inventories (978,000) (1,196,000)
Prepaid expenses and other current assets (229,000) (619,000)
Accounts payable 988,000 708,000
Accrued expenses 92,000 68,000
Accrued director’s compensation 160,000
Operating lease obligations (303,000) (222,000)
Customer deposits and deferred revenue 771,000 381,000
Net cash used in operating activities (1,694,000) (3,194,000)
Cash flows used in investing activities    
Cash used for investments held to maturity (949,000) (10,763,000)
Proceeds from bond redemption 950,000
Cash used for property and equipment (342,000) (421,000)
Net cash used in investing activities (341,000) (11,184,000)
Cash flows used in financing activities    
Principal payments made on notes payable (114,000) (213,000)
Net cash used in financing activities (114,000) (213,000)
Effect of exchange rate changes on cash (684,000) (63,000)
Net decrease in cash and cash equivalents (2,833,000) (14,654,000)
Cash and cash equivalents, beginning of the period 8,482,000 25,627,000
Cash and cash equivalents, end of the period 5,649,000 10,973,000
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 6,000 6,000
Supplemental disclosure of non-cash information:    
Notes payable 510,000 523,000
Common stock issued in connection with:    
Compensation awards previously accrued 160,000 200,000
ROU assets and operating lease obligations recognized (Note 8):    
Operating lease assets recognized 484,000
Less: non-cash changes to operating lease assets amortization (229,000) (135,000)
ROU assets and operating lease obligations recognized 255,000 (135,000)
Operating lease liabilities recognized 484,000
Less: non-cash changes to operating lease liabilities accretion (303,000) (222,000)
Operating lease liabilities recognized $ 181,000 $ (222,000)