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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows related to operating activities:    
Net (loss)/income $ (801,000) $ 4,965,000
Adjustments to reconcile net (loss)/income to net cash provided by operating activities:    
Paycheck Protection Program loan forgiveness   (4,000,000)
Depreciation and amortization 916,000 1,043,000
Gain on disposal of property (26,000)  
Stock based compensation 126,000 81,000
Increase (decrease) in doubtful accounts 9,000 (34,000)
Decrease in inventory reserve (111,000) (75,000)
Increase in warranty reserve 32,000 14,000
Deferred income taxes 24,000 12,000
Change in assets and liabilities:    
Accounts receivable (4,223,000) (481,000)
Other receivables: employee retention credit   (1,028,000)
Inventories 1,391,000 2,861,000
Prepaid income taxes 527,000 18,000
Other current assets (257,000) (242,000)
Accounts payable 2,611,000 (43,000)
Accrued employee compensation and benefit costs (114,000) 509,000
Other accrued liabilities (128,000) 2,665,000
Postretirement benefits 86,000 73,000
Net cash provided by operating activities 62,000 6,338,000
Cash flows related to investing activities:    
Capital expenditures - property, plant and equipment (925,000) (68,000)
Proceeds from sale of assets 38,000  
Net cash used by investing activities (887,000) (68,000)
Cash flows related to financing activities:    
Principal payments on long-term debt (4,250,000) (911,000)
Principal payments on equipment financing lease obligations (210,000) (271,000)
Proceeds from equipment note and equipment financing lease obligations   384,000
Proceeds from the line of credit   500,000
Purchase of treasury shares   (81,000)
Net cash used by financing activities (4,460,000) (379,000)
Net (decrease)/increase in cash (5,285,000) 5,891,000
Cash at beginning of period 9,546,000 5,935,000
Cash at end of period $ 4,261,000 $ 11,826,000