Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.19.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income (loss) $ 863,000 $ (3,858,000)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 373,000 423,000
Amortization 491,000 508,000
Amortization of discounts on investments, net (248,000) (94,000)
Stock-based compensation 1,605,000 2,536,000
Deferred tax liability   22,000
Gain on deferred purchase price liability   (389,000)
Changes in operating assets and liabilities:    
Trade accounts receivable (1,551,000) 667,000
Inventory 86,000 (476,000)
Prepaid expenses and other assets (500,000) (256,000)
Accounts payable 305,000 36,000
Accrued bonus (674,000) 154,000
Accrued liabilities 244,000 (426,000)
Deferred obligation under operating lease (119,000) (88,000)
Net cash provided by (used in) operating activities 875,000 (1,241,000)
Cash flows from investing activities:    
Purchases of available-for-sale securities (30,080,000) (24,329,000)
Maturities of available-for-sale securities 29,520,000 26,956,000
Purchases of property and equipment (1,045,000) (752,000)
Net cash provided by (used in) investing activities (1,605,000) 1,875,000
Cash flows from financing activities:    
Repayment of notes payable   (1,000,000)
Payment on deferred purchase price liability   (375,000)
Repurchases of common stock (799,000) (1,837,000)
Proceeds from issuance of common stock 779,000 617,000
Net cash used in financing activities (20,000) (2,595,000)
Net decrease in cash and cash equivalents (750,000) (1,961,000)
Cash and cash equivalents, beginning of period 13,621,000 15,026,000
Cash and cash equivalents, end of period 12,871,000 13,065,000
Supplemental disclosure of cash flow information:    
Interest paid 1,000 34,000
Taxes paid 54,000 $ 26,000
Supplemental disclosure of non-cash investing and financing activities:    
Accrual of property and equipment $ 4,000