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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows related to operating activities:    
Net income/(loss) $ 541,000 $ 1,898,000
Adjustments to reconcile net income to cash generated (used) by operating activities:    
Depreciation and amortization 356,000 354,000
Stock based compensation 31,000 85,000
(Decrease)/Increase in allowance for doubtful accounts 58,000 75,000
Increase/(Decrease) in inventory reserve 36,000 69,000
Decrease in warranty reserve 4,000  
Change in assets and liabilities:    
Accounts receivable (98,000) 80,000
Other receivables-ERC (1,593,000)  
Inventories 1,091,000 (3,383,000)
Prepaid income taxes 140,000 373,000
Other current assets (420,000) (87,000)
Accounts payable 146,000 72,000
Accrued employee compensation and benefit costs 499,000 145,000
Post retirement obligation 20,000 99,000
Other accrued liabilities 25,000 (102,000)
Net cash generated (used) by operating activities 836,000 (322,000)
Cash flows related to investing activities:    
Capital expenditures - property, plant and equipment (14,000) (413,000)
Net cash used by investing activities (14,000) (413,000)
Cash flows related to financing activities:    
Principal payments on long-term debt (637,000) (136,000)
Principal payments on equipment financing lease obligations (85,000) (73,000)
Proceeds from equipment note and equipment financing lease 384,000  
Proceeds from the line of credit 500,000 750,000
Purchase of treasury shares (81,000) (100,000)
Net cash provided by financing activities 81,000 441,000
Net increase (decrease) in cash 903,000 (294,000)
Cash at beginning of year 5,935,000 2,029,000
Cash at end of year $ 6,838,000 $ 1,735,000