XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows related to operating activities:    
Loss from continuing operations $ (3,926,000) $ (928,000)
Adjustments to reconcile net loss to net cash used by operating activities:    
Depreciation and amortization 790,000 751,000
Stock based compensation 110,000 126,000
Decrease in allowance for credit losses 8,000 5,000
Increase (decrease) in inventory reserve 34,000 (112,000)
(Decrease)increase in warranty reserve (37,000) 32,000
Deferred income taxes 1,077,000 24,000
Gain on sale of equipment   (26,000)
Change in assets and liabilities:    
Accounts receivable (3,852,000) (3,772,000)
Inventories (796,000) 1,928,000
Prepaid income taxes (1,000) 527,000
Other current assets (250,000) (233,000)
Accounts payable 1,118,000 1,467,000
Accrued employee compensation and benefit costs 229,000 (66,000)
Post retirement obligations 59,000 86,000
Other accrued liabilities 529,000 44,000
Net cash used in operating activities from continuing operations (4,908,000) (147,000)
Cash flows related to investing activities:    
Capital expenditures - property, plant and equipment (606,000) (879,000)
Proceeds from sale of assets   38,000
Net cash used in investing activities from continuing operations (606,000) (841,000)
Cash flows related to financing activities:    
Advances on line of credit, net of payments 2,164,000  
Principal payments on long-term debt   (4,250,000)
Principal payments on equipment financing lease obligations (501,000) (210,000)
Net cash provided by (used in) financing activities from continuing operations 1,663,000 (4,460,000)
Discontinued Operation    
Cash (used in) provided by operating activities (1,753,000) 151,000
Cash provided by investing activities 2,100,000 0
Net cash provided by operating and investing activities from discontinued operation 347,000 151,000
Net decrease in cash and restricted cash (3,504,000) (5,297,000)
Cash and restricted cash at beginning of period 3,812,000 9,433,000
Cash and restricted cash at end of period $ 308,000 $ 4,136,000