XML 20 R8.htm IDEA: XBRL DOCUMENT v3.24.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net (loss) income $ (4,067,000) $ 323,000
Adjustment to reconcile net (loss) income to net cash provided by (used in) operating activities:    
Depreciation and amortization 378,000 439,000
Amortization of right of use assets 395,000 397,000
Gain on forgiveness of PPP loan (824,000)
Amortization of deferred financing fees and debt discount 52,000
Loss (gain) on foreign currency remeasurement 60,000 (191,000)
Issuance of common stock for compensation 26,000
Amortization of stock options 38,000 114,000
Allowance for credit losses (90,000) (113,000)
Changes in operating assets and liabilities:    
Accounts receivable 1,391,000 (570,000)
Inventories 350,000 (1,851,000)
Prepaids and other assets 923,000 479,000
Accounts payable 2,081,000 1,091,000
Accrued liabilities 1,068,000 (7,000)
Operating lease liabilities (410,000) (397,000)
Customer deposits (970,000) (768,000)
Deferred pension liability and other (551,000) (142,000)
Net cash provided by (used in) operating activities 622,000 (1,968,000)
Cash flows from investing activities    
Purchases of property, plant and equipment (327,000) (18,000)
Net cash used in investing activities (327,000) (18,000)
Cash flows from financing activities    
Proceeds from long-term debt 243,000 1,057,000
Proceeds from forgiveness of PPP loan 453,000
Payments of long-term debt (201,000)
Net cash provided by financing activities 42,000 1,510,000
Effect of exchange rate changes
Net increase (decrease) in cash, cash equivalents and restricted cash 337,000 (476,000)
Cash, cash equivalents and restricted cash at beginning of year 48,000 524,000
Cash, cash equivalents and restricted cash at end of period 385,000 48,000
Supplemental disclosure of cash flow information:    
Interest paid 24,000
Income taxes paid 10,000 10,000
Supplemental non-cash financing activities:    
Lease assets added in exchange for lease liabilities 1,601,000
Current assets    
Cash and cash equivalents 185,000 48,000
Long-term assets    
Restricted cash 200,000
Cash, cash equivalents and restricted cash at end of period $ 385,000 $ 48,000