Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income (loss) $ 926,000 $ (2,584,000) $ 1,141,000
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation 493,000 587,000 436,000
Amortization 655,000 677,000 581,000
Amortization of discounts on investments, net (312,000) (202,000) (91,000)
Stock-based compensation 2,204,000 2,910,000 736,000
Deferred tax liability 14,000 30,000 2,000
Loss on disposal of fixed assets   39,000  
Gain on deferred purchase price liability   (389,000)  
Changes in operating assets and liabilities:      
Trade accounts receivable (643,000) 1,043,000 (2,679,000)
Inventory 158,000 (610,000) (162,000)
Prepaid expenses and other assets (189,000) (241,000) (526,000)
Accounts payable (303,000) 294,000 (102,000)
Accrued bonus (691,000) 416,000 476,000
Accrued liabilities 234,000 (470,000) 50,000
Deferred obligation under operating lease (196,000) (123,000) (117,000)
Net cash provided by (used in) operating activities 2,350,000 1,377,000 (255,000)
Cash flows from investing activities:      
Purchases of available-for-sale securities (36,456,000) (29,666,000) (21,962,000)
Maturities of available-for-sale securities 35,270,000 30,992,000 750,000
Cash paid for acquisition     (6,349,000)
Purchases of property and equipment (1,196,000) (990,000) (263,000)
Net cash provided by (used in) investing activities (2,382,000) 336,000 (27,824,000)
Cash flows from financing activities:      
Repayment of notes payable   (1,333,000) (1,389,000)
Costs related to initial public offering     1,000
Payment on deferred purchase price liability   (375,000)  
Repurchase of common stock (1,227,000) (2,174,000) (1,257,000)
Proceeds from issuance of common stock 835,000 765,000 588,000
Net cash used in financing activities (392,000) (3,117,000) (2,057,000)
Net decrease in cash and cash equivalents (424,000) (1,404,000) (30,136,000)
Cash and cash equivalents, beginning of period 13,621,000 15,025,000 45,161,000
Cash and cash equivalents, end of period 13,197,000 13,621,000 15,025,000
Supplemental disclosure of cash flow information      
Interest paid 1,000 37,000 99,000
Taxes paid 71,000 $ 46,000 $ 103,000
Supplemental disclosure of non-cash investing and financing activities:      
Accrual of property and equipment $ 4,000