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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows related to operating activities:    
Net (Loss) Income $ (2,117,000) $ 4,055,000
Adjustments to reconcile net (loss)income to cash provided by operating activities:    
Paycheck Protection loan forgiveness   (4,000,000)
Depreciation and amortization 1,217,000 1,368,000
(Gain)/Loss on disposal of property (36,000) 98,000
Stock based compensation 191,000 106,000
Increase/(Decrease) in allowance for doubtful accounts 4,000 (57,000)
(Decrease)/Increase in inventory reserve (484,000) 22,000
Increase in warranty reserve 70,000 129,000
Deferred income taxes (589,000) (84,000)
Change in assets and liabilities:    
Accounts receivable (2,275,000) 495,000
Inventories 1,572,000 3,252,000
Prepaid income taxes 654,000 (309,000)
Other current assets 49,000 (264,000)
Accounts payable 2,450,000 (948,000)
Accrued employee compensation and benefit costs (596,000) 110,000
Other accrued liabilities (133,000) 412,000
Post retirement obligation 186,000 105,000
Employee stock ownership trust payment 101,000 101,000
Net cash provided by operating activities 264,000 4,591,000
Cash flows related to investing activities:    
Capital expenditures - property, plant and equipment (1,319,000) (267,000)
Proceeds from sale of assets 38,000 270,000
Net cash (used) provided by investing activities (1,281,000) 3,000
Cash flows related to financing activities:    
Principal payments on long-term debt (4,250,000) (1,334,000)
Principal payments on equipment financing lease obligations (275,000) (452,000)
Proceeds from equipment note and equipment financing lease   384,000
Proceeds from line of credit   500,000
Purchase of treasury shares   (81,000)
Net cash used by financing activities (4,525,000) (983,000)
Net (decrease) increase in cash (5,542,000) 3,611,000
Cash at beginning of year 9,546,000 5,935,000
Cash at end of year $ 4,004,000 $ 9,546,000