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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows related to operating activities:    
Net (loss)/income $ (485,000) $ 1,727,000
Adjustments to reconcile net (loss)/income to net cash provided by operating activities:    
Depreciation and amortization 622,000 714,000
Stock based compensation 67,000 56,000
Increase in allowance doubtful accounts   9,000
Decrease in inventory reserve (79,000) (19,000)
(Decrease)/increase in warranty reserve (15,000) 10,000
Gain on sale of equipment (26,000)  
Change in assets and liabilities:    
Accounts receivable (2,941,000) (272,000)
Other receivables - ERC   (999,000)
Inventories 1,271,000 2,118,000
Prepaid income taxes 680,000 285,000
Other current assets (521,000) (361,000)
Accounts payable 2,054,000 (264,000)
Accrued employee compensation and benefit costs (173,000) 559,000
Post retirement obligations 61,000 57,000
Other accrued liabilities (173,000) 246,000
Net cash provided by operating activities 342,000 3,866,000
Cash flows related to investing activities:    
Capital expenditures - property, plant and equipment (428,000) (13,000)
Proceeds from sale of assets 38,000  
Net cash used by investing activities (390,000) (13,000)
Cash flows related to financing activities:    
Principal payments on long-term debt (4,250,000) (774,000)
Principal payments on equipment financing lease obligations (140,000) (177,000)
Proceeds from equipment note and equipment financing lease obligations   384,000
Proceeds from line of credit   500,000
Purchase of treasury shares   (81,000)
Net cash used by financing activities (4,390,000) (148,000)
Net (decrease)/increase in cash (4,438,000) 3,705,000
Cash at beginning of period 9,546,000 5,935,000
Cash at end of period $ 5,108,000 $ 9,640,000