BIOMERICA INC (BMRA)
Biomerica, Inc. is a biomedical technology firm that invents, secures intellectual property for, produces, and globally distributes diagnostic and therapeutic solutions aimed at identifying and addressing a range of medical conditions and diseases. The company's diagnostic testing kits analyze patient samples, such as blood, urine, or stool, to pinpoint various illnesses and health complications. These kits are also capable of quantifying minute concentrations of specific substances like bacteria, hormones, antibodies, antigens, or other compounds present in bodily fluids or waste. Biomerica primarily sells its products for gastrointestinal disorders, food sensitivities, diabetes, and a variety of specialized diagnostic evaluations. Its distribution channels include physicians' clinics, retail pharmacies, and hospital/clinical laboratories. The company is currently developing InFoods, a diagnostic-guided therapy technology for irritable bowel syndrome; products for Helicobacter pylori; and comprehensive diagnostic tools for COVID-19, encompassing their development, testing, validation, and sale. Established in 1971, Biomerica, Inc. maintains its corporate headquarters in Irvine, California.
Sector: In Vitro & In Vivo Diagnostic Substances
Industry: Medical - Devices
Biomerica, Inc.
NASDAQ:BMRAHealthcare · Medical - Devices
-1.15%$1.72
Mkt Cap$7.91M
Float4.11M
O/S4.6M
Vol
$ Vol
RVOL
Inst Own2.8%
SI0.3%
Earnings
Dilution
Financials Summary
Revenue$4.45M
Net Income-$3.77M
Total Assets$6.76M
Free Cash Flow-$3.42M
Debt & Equity
Debt 48%
Equity 52%
Total Debt$2.38M
Total Equity$2.63M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:8
Nasdaq bars a compliance period at 1:250
- 1:8Reverse splitApr 21, 20258 shares → 1
Balance Sheet Details
Assets$6.76M
Liabilities$4.13M
Accounts Receivable$785K
Accounts Payable$377K
Inventory$1.71M
PP&E (Net)$1.95M
Goodwill$0
Intangible Assets$209K
Income Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 | FY 1996 | FY 1995 | FY 1994 | FY 1993 | FY 1992 | FY 1991 | FY 1990 | FY 1989 | FY 1988 | FY 1987 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-05-31 | 2025-05-31 | 2024-05-31 | 2023-05-31 | 2022-05-31 | 2021-05-31 | 2020-05-31 | 2019-05-31 | 2018-05-31 | 2017-05-31 | 2016-05-31 | 2015-05-31 | 2014-05-31 | 2013-05-31 | 2012-05-31 | 2011-05-31 | 2010-05-31 | 2009-05-31 | 2008-05-31 | 2007-05-31 | 2006-05-31 | 2005-05-31 | 2004-05-31 | 2003-05-31 | 2002-05-31 | 2001-05-31 | 2000-05-31 | 1999-05-31 | 1998-05-31 | 1997-05-31 | 1996-05-31 | 1995-05-31 | 1994-05-31 | 1993-05-31 | 1992-05-31 | 1991-05-31 | 1990-05-31 | 1989-05-31 | 1988-05-31 | 1987-05-31 |
| Revenue | $4.45M | $5.31M | $5.42M | $5.34M | $18.87M | $7.2M | $6.69M | $5.2M | $5.56M | $5.79M | $5.14M | $4.96M | $5.12M | $6.47M | $6.08M | $4.9M | $5.08M | $4.93M | $4.93M | $5.75M | $7.18M | $9.27M | $9.17M | $9.06M | $8.6M | $8.94M | $8.03M | $8.7M | $9.4M | $9.2M | $9.5M | $9.2M | $8.3M | $8M | $7.8M | $10.4M | $8.2M | $1.2M | $1.4M | $1.9M |
| YoY Growth | -16.2% | -1.9% | 1.4% | -71.7% | 162.1% | 7.6% | 28.7% | -6.5% | -3.9% | 12.7% | 3.6% | -3.1% | -20.9% | 6.4% | 24.1% | -3.5% | 2.8% | 0.2% | -14.3% | -20.0% | -22.5% | 1.1% | 1.2% | 5.4% | -3.8% | 11.3% | -7.7% | -7.4% | 2.2% | -3.2% | 3.3% | 10.8% | 3.8% | 2.6% | -25.0% | 26.8% | 583.3% | -14.3% | -26.3% | - |
| Cost of Revenue | $4.09M | $4.81M | $4.8M | $4.89M | $15.89M | $6.83M | $4.91M | $3.91M | $3.81M | $3.77M | $3.62M | $3.42M | $3.45M | $4.05M | $3.78M | $3.37M | $3.51M | $2.96M | $2.79M | $3.5M | $4.78M | $6.19M | $6.25M | $6.16M | $6.06M | $6.13M | $5.4M | $5.1M | $5.3M | $5.2M | $5.1M | $4.8M | $4.3M | $4.8M | $4.8M | $6.7M | $4M | $800K | $1M | $800K |
| Gross Profit | $362K | $498K | $611K | $446K | $2.98M | $366K | $1.78M | $1.29M | $1.75M | $2.02M | $1.52M | $1.54M | $1.67M | $2.43M | $2.3M | $1.53M | $1.56M | $1.97M | $2.14M | $2.25M | $2.41M | $3.09M | $2.92M | $2.9M | $2.54M | $2.81M | $2.63M | $3.6M | $4.1M | $4M | $4.4M | $4.4M | $4M | $3.2M | $3M | $3.7M | $4.2M | $400K | $400K | $1.1M |
| Gross Margin | 8.1% | 9.4% | 11.3% | 8.4% | 15.8% | 5.1% | 26.6% | 24.8% | 31.5% | 34.9% | 29.7% | 31.1% | 32.6% | 37.5% | 37.8% | 31.1% | 30.8% | 39.9% | 43.3% | 39.1% | 33.5% | 33.3% | 31.8% | 32.0% | 29.5% | 31.4% | 32.8% | 41.4% | 43.6% | 43.5% | 46.3% | 47.8% | 48.2% | 40.0% | 38.5% | 35.6% | 51.2% | 33.3% | 28.6% | 57.9% |
| Research and Development | $788K | $1.02M | $1.49M | $1.58M | $1.81M | $2.19M | $1.91M | $1.68M | $1.4M | $1.13M | $780K | $734K | $590K | $459K | $347K | $421K | $455K | $278K | $259K | $256K | $239K | $274K | $274K | $263K | $160K | $322K | $898K | $500K | $600K | $300K | $300K | $300K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $4.89M | $4.61M | $5.49M | $6.08M | $5.7M | $5.67M | $2.27M | $2.03M | $1.84M | $1.85M | $1.57M | $1.48M | $1.53M | $1.45M | $1.45M | $1.24M | $1.47M | $1.44M | $1.37M | $1.47M | $2.26M | $3.05M | $2.96M | $2.85M | $2.84M | $3.17M | $5.7M | $3.1M | $3.1M | $2.9M | $3.1M | $3.3M | $3.4M | $3M | $3.6M | $4.8M | $3.7M | $1.2M | $1.9M | $2.3M |
| Other | $0 | $0 | $0 | $1K | $0 | $0 | $0 | $0 | $0 | $0 | $7K | $2K | $3K | $50 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $5.68M | $5.63M | $6.98M | $7.67M | $7.51M | $7.87M | $4.18M | $3.7M | $3.24M | $2.98M | $2.35M | $2.21M | $2.12M | $1.91M | $1.79M | $1.66M | $1.93M | $1.72M | $1.63M | $1.72M | $2.5M | $3.32M | $3.23M | $3.11M | $3M | $3.49M | $6.82M | $3.9M | $3.9M | $3.4M | $3.7M | $4M | $3.8M | $3.5M | $4.4M | $5.6M | $4.2M | $1.3M | $2M | $2.4M |
| Operating Income (EBIT) | -$5.32M | -$5.14M | -$6.37M | -$7.22M | -$4.53M | -$7.5M | -$2.4M | -$2.41M | -$1.48M | -$955K | -$827K | -$671K | -$447K | $514K | $505K | -$132K | -$365K | $248K | $509K | $521K | -$97K | -$235K | -$316K | -$210K | -$465K | -$684K | -$4.19M | -$300K | $200K | $600K | $700K | $400K | $200K | -$300K | -$1.4M | -$1.9M | $300K | -$900K | -$1.6M | -$1.3M |
| Operating Margin | -119.5% | -96.7% | -117.6% | -135.3% | -24.0% | -104.2% | -35.9% | -46.4% | -26.6% | -16.5% | -16.1% | -13.5% | -8.7% | 7.9% | 8.3% | -2.7% | -7.2% | 5.0% | 10.3% | 9.1% | -1.4% | -2.5% | -3.4% | -2.3% | -5.4% | -7.6% | -52.2% | -3.4% | 2.1% | 6.5% | 7.4% | 4.3% | 2.4% | -3.8% | -17.9% | -18.3% | 3.7% | -75.0% | -114.3% | -68.4% |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $367 | $9 | $47 | $37 | $282 | $167 | $0 | $142 | $302 | $2K | $6K | $12K | $28K | $50K | $35K | $0 | $0 | $0 | $0 | $40K | $0 | $0 | $0 | $0 | $100K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $1.23M | $165K | $431K | $133K | $27K | $67K | $71K | $44K | $48K | $46K | $24K | $22K | $17K | $11K | $8K | $0 | $15K | $30K | $34K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | $1.57M | $165K | $431K | $134K | $27K | $66K | $71K | $44K | $48K | $46K | $31K | $24K | $20K | $10K | $108K | $292K | $20K | $20K | $1.13M | $5K | $785 | $215K | $19K | -$12K | -$99K | $103K | $302K | $300K | -$200K | $100K | $0 | $0 | $100K | $100K | $100K | $900K | -$300K | $100K | $1M | -$100K |
| Income Before Tax (EBT) | -$3.75M | -$4.97M | -$5.94M | -$7.09M | -$4.51M | -$7.43M | -$2.33M | -$2.37M | -$1.43M | -$909K | -$796K | -$646K | -$426K | $524K | $613K | $159K | -$344K | $267K | $1.64M | $526K | $155K | -$20K | -$297K | -$222K | -$565K | -$576K | -$3.89M | $0 | $400K | $700K | $0 | $0 | $300K | -$200K | -$1.3M | -$1M | $0 | -$800K | -$600K | -$1.4M |
| Income Tax Expense | $23K | $1K | $42K | $51K | $24K | $13K | $7K | $24K | $32K | $0 | $704K | -$315K | -$211K | -$12K | $65K | $2K | -$13K | -$87K | -$67K | $17K | $2K | $2K | $2K | $2K | $2K | $2K | $2K | -$200K | $100K | $200K | $300K | $300K | $300K | $100K | -$500K | $200K | $600K | $0 | -$1.2M | $0 |
| Net Income | -$3.77M | -$4.97M | -$5.98M | -$7.14M | -$4.53M | -$7.45M | -$2.34M | -$2.39M | -$1.47M | -$909K | -$1.5M | -$331K | -$216K | $537K | $548K | $157K | -$331K | $354K | $1.71M | $537K | $230K | $162K | -$223K | -$224K | -$421K | -$2.67M | -$3.89M | -$100K | $100K | $400K | $400K | $100K | $0 | -$400K | -$900K | -$1.2M | -$600K | -$900K | -$400K | -$1.3M |
| Net Income Margin | -84.8% | -93.6% | -110.4% | -133.7% | -24.0% | -103.4% | -34.9% | -46.0% | -26.3% | -15.7% | -29.2% | -6.7% | -4.2% | 8.3% | 9.0% | 3.2% | -6.5% | 7.2% | 34.7% | 9.3% | 3.2% | 1.7% | -2.4% | -2.5% | -4.9% | -29.9% | -48.4% | -1.1% | 1.1% | 4.3% | 4.2% | 1.1% | - | -5.0% | -11.5% | -11.5% | -7.3% | -75.0% | -28.6% | -68.4% |
| Supplementary Data | ||||||||||||||||||||||||||||||||||||||||
| EPS | -1.30 | -2.16 | -0.36 | -0.50 | -0.36 | -0.54 | -0.23 | -0.26 | -0.17 | -0.11 | -0.20 | -0.04 | -0.03 | 0.08 | 0.08 | 0.02 | -0.05 | 0.05 | 0.28 | 0.09 | 0.04 | 0.03 | -0.04 | -0.04 | -0.08 | -0.56 | -0.86 | -0.03 | 0.03 | 0.12 | 0.12 | 0.03 | 0.00 | -0.14 | -0.30 | -0.40 | -0.18 | -0.30 | -0.14 | -0.44 |
| Diluted EPS | -1.30 | -2.16 | -0.36 | -0.50 | -0.36 | -0.54 | -0.23 | -0.26 | -0.17 | -0.11 | -0.20 | -0.04 | -0.03 | 0.07 | 0.08 | 0.02 | -0.05 | 0.05 | 0.25 | 0.08 | 0.03 | 0.03 | -0.04 | -0.04 | -0.08 | -0.56 | -0.86 | -0.03 | 0.03 | 0.10 | 0.12 | 0.03 | 0.00 | -0.14 | -0.30 | -0.40 | -0.18 | -0.30 | -0.14 | -0.44 |
| Weighted Average OS | 2.91M | 2.30M | 16.82M | 14.15M | 12.67M | 11.93M | 10.17M | 9.21M | 8.57M | 8.26M | 7.50M | 7.55M | 7.19M | 7.02M | 6.89M | 6.67M | 6.65M | 6.62M | 6.13M | 5.93M | 5.76M | 5.75M | 5.74M | 5.30M | 5.10M | 4.81M | 4.54M | 4.00M | 4.00M | 3.86M | 3.59M | 3.33M | 3.33M | 2.86M | 3.00M | 3.00M | 3.33M | 3.00M | 2.86M | 2.95M |
| EBITDA | -$4.9M | -$4.57M | -$5.56M | -$6.74M | -$3.94M | -$7.06M | -$1.93M | -$2.21M | -$1.25M | -$689K | -$564K | -$393K | -$219K | $741K | $795K | $313K | -$218K | $383K | $1.72M | $537K | $25K | -$75K | -$172K | -$93K | -$273K | -$409K | -$3.97M | $0 | $400K | $800K | $1M | $800K | $600K | $200K | -$600K | -$1.1M | $800K | -$800K | -$1.5M | -$1.2M |
| EBITDA Margin | -110.0% | -86.1% | -102.7% | -126.2% | -20.9% | -98.0% | -28.9% | -42.4% | -22.4% | -11.9% | -11.0% | -7.9% | -4.3% | 11.5% | 13.1% | 6.4% | -4.3% | 7.8% | 35.0% | 9.4% | 0.3% | -0.8% | -1.9% | -1.0% | -3.2% | -4.6% | -49.4% | - | 4.3% | 8.7% | 10.5% | 8.7% | 7.2% | 2.5% | -7.7% | -10.6% | 9.8% | -66.7% | -107.1% | -63.2% |
Balance Sheet
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 | FY 1996 | FY 1995 | FY 1994 | FY 1993 | FY 1992 | FY 1991 | FY 1990 | FY 1989 | FY 1988 | FY 1987 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-05-31 | 2025-05-31 | 2024-05-31 | 2023-05-31 | 2022-05-31 | 2021-05-31 | 2020-05-31 | 2019-05-31 | 2018-05-31 | 2017-05-31 | 2016-05-31 | 2015-05-31 | 2014-05-31 | 2013-05-31 | 2012-05-31 | 2011-05-31 | 2010-05-31 | 2009-05-31 | 2008-05-31 | 2007-05-31 | 2006-05-31 | 2005-05-31 | 2004-05-31 | 2003-05-31 | 2002-05-31 | 2001-05-31 | 2000-05-31 | 1999-05-31 | 1998-05-31 | 1997-05-31 | 1996-05-31 | 1995-05-31 | 1994-05-31 | 1993-05-31 | 1992-05-31 | 1991-05-31 | 1990-05-31 | 1989-05-31 | 1988-05-31 | 1987-05-31 |
| Assets | ||||||||||||||||||||||||||||||||||||||||
| Current Assets | ||||||||||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents | $1.31M | $2.4M | $4.17M | $9.72M | $5.92M | $4.2M | $8.64M | $687K | $1.2M | $1.23M | $1.89M | $1.09M | $1.51M | $2.47M | $1.08M | $989K | $1.06M | $1.6M | $2.02M | $517K | $120K | $352K | $352K | $525K | $329K | $136K | $634K | $1.7M | $1.8M | $1.7M | $600K | $700K | $800K | $300K | $300K | $200K | $0 | $0 | $3.7M | $4.7M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $100K | $355 | $532 | $3K | $8K | $26K | $13K | $3K | $42K | $99K | $100K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $1.31M | $2.4M | $4.17M | $9.72M | $5.92M | $4.2M | $8.64M | $687K | $1.2M | $1.23M | $1.89M | $1.09M | $1.51M | $2.47M | $1.08M | $989K | $1.06M | $1.7M | $2.02M | $517K | $123K | $360K | $378K | $538K | $332K | $178K | $733K | $1.8M | $1.8M | $1.7M | $600K | $700K | $800K | $300K | $300K | $200K | $0 | $0 | $3.7M | $4.7M |
| Accounts Receivable | $785K | $731K | $947K | $722K | $774K | $1.46M | $1.77M | $1.45M | $800K | $1.06M | $969K | $1.11M | $1.45M | $872K | $1.2M | $747K | $1.02M | $641K | $614K | $505K | $561K | $1.72M | $1.52M | $1.66M | $1.51M | $1.54M | $1.7M | $1.6M | $1.6M | $1.5M | $1.8M | $1.6M | $1.5M | $1.5M | $1.3M | $2M | $2.5M | $200K | $200K | $300K |
| Inventory | $1.71M | $1.49M | $2.38M | $2.06M | $2.42M | $3.21M | $2.85M | $2.15M | $2.18M | $1.73M | $1.86M | $2.03M | $1.77M | $1.57M | $1.82M | $1.79M | $1.79M | $2M | $1.76M | $1.46M | $1.1M | $2.09M | $2.67M | $2.65M | $2.92M | $2.87M | $2.86M | $3.1M | $2.5M | $2.4M | $2.1M | $1.8M | $1.6M | $2.2M | $2.3M | $2.2M | $2.8M | $400K | $400K | $600K |
| Other Current Assets | $0 | $255K | $0 | $0 | $447 | $0 | $0 | $202K | $300K | $196K | $114K | $238K | $87K | $144K | $177K | $127K | $42K | $103K | $35K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $514K | $300K | $600K | $700K | $400K | $400K | $900K | $500K | $700K | $400K | $600K | $1M | $100K | $100K |
| Total Current Assets | $4.02M | $4.88M | $7.73M | $12.8M | $9.43M | $9.23M | $14.77M | $4.49M | $4.48M | $4.21M | $4.84M | $4.47M | $4.91M | $5.25M | $4.49M | $3.89M | $4.09M | $4.55M | $4.54M | $2.61M | $1.85M | $4.29M | $4.75M | $5.02M | $4.88M | $4.68M | $5.81M | $6.8M | $6.5M | $6.3M | $4.9M | $4.5M | $4.8M | $4.5M | $4.6M | $4.8M | $5.9M | $1.6M | $4.4M | $5.7M |
| Long-Term Assets | ||||||||||||||||||||||||||||||||||||||||
| Property, Plant & Equipment Net | $1.95M | $564K | $943K | $1.25M | $1.52M | $1.86M | $1.99M | $351K | $351K | $332K | $381K | $445K | $614K | $655K | $585K | $567K | $562K | $367K | $370K | $168K | $127K | $817K | $717K | $387K | $228K | $318K | $470K | $400K | $500K | $500K | $500K | $500K | $500K | $800K | $1M | $1.3M | $1.3M | $100K | $200K | $300K |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $209K | $228K | $212K | $165K | $170K | $295K | $169K | $107K | $99K | $174K | $249K | $321K | $382K | $165K | $195K | $177K | $84K | $30K | $0 | $3K | $8K | $13K | $49K | $70K | $116K | $297K | $367K | $400K | $500K | $500K | $600K | $600K | $700K | $800K | $900K | $1.2M | $1.5M | $0 | $0 | $0 |
| Long-Term Investments | $500K | $165K | $165K | $165K | $165K | $165K | $165K | $165K | $165K | $165K | $165K | $165K | $165K | $165K | $165K | $165K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $10K | $41K | $41K | $670K | $359K | $85K | $61K | $111K | $196K | $0 | $135K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $83K | $113K | $203K | $79K | $96K | $264K | $168K | $127K | $113K | $95K | $56K | $57K | $36K | $71K | $79K | $48K | $80K | $201K | $65K | $444K | $447K | $673K | $52K | $68K | $51K | $55K | $89K | $200K | $0 | $100K | $100K | $200K | $300K | $200K | -$100K | $0 | $300K | $2.1M | $200K | $300K |
| Total Long-Term Assets | $2.74M | $1.07M | $1.52M | $1.66M | $1.95M | $2.59M | $2.49M | $750K | $739K | $808K | $891K | $1.66M | $1.56M | $1.14M | $1.08M | $1.07M | $922K | $597K | $570K | $614K | $582K | $1.5M | $818K | $525K | $395K | $670K | $927K | $1M | $1M | $1.1M | $1.2M | $1.3M | $1.5M | $1.8M | $1.8M | $2.5M | $3.1M | $2.2M | $400K | $600K |
| Other Assets | $0 | $0 | $0 | $0 | $363 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $6.76M | $5.95M | $9.25M | $14.45M | $11.37M | $11.82M | $17.26M | $5.25M | $5.22M | $5.02M | $5.73M | $6.12M | $6.47M | $6.39M | $5.57M | $4.96M | $5.02M | $5.15M | $5.11M | $3.22M | $2.43M | $5.79M | $5.57M | $5.55M | $5.28M | $5.35M | $6.74M | $7.8M | $7.5M | $7.4M | $6.1M | $5.8M | $6.3M | $6.3M | $6.4M | $7.3M | $9M | $3.8M | $4.8M | $6.3M |
| Liabilities | ||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||||||||||||||||||||||
| Accounts Payable | $377K | $295K | $288K | $344K | $736K | $431K | $833K | $1M | $656K | $336K | $326K | $357K | $386K | $282K | $188K | $246K | $402K | $0 | $474K | $666K | $581K | $1.08M | $983K | $1.28M | $906K | $931K | $1.31M | $1M | $800K | $700K | $700K | $600K | $600K | $700K | $1.5M | $1.4M | $1.6M | $400K | $0 | $0 |
| Short-Term Debt | $500K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $43K | $35K | $45K | $42K | $96K | $172K | $265K | $476K | $317K | $59K | $96K | $140K | $160K | $200K | $100K | $400K | $500K | $400K | $1.8M | $2.2M | $2.2M | $2.6M | $1.6M | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $60K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $83K | $55K | $85K | $60K | $51K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $60K | $0 | $0 | $0 | $0 | $568K | $483K | $594K | $466K | $0 | $308K | $263K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $1.29M | $655K | $655K | $0 | $282 | $389K | $0 | $38K | $31K | $16K | $8K | $36K | $56K | $278K | $40K | $205K | $163K | $0 | $48K | $5K | $27K | $105K | $288K | $708K | $326K | $398K | $354K | $400K | $500K | $400K | $500K | $600K | $700K | $500K | $400K | $800K | $0 | $100K | $500K | $1.5M |
| Total Current Liabilities | $2.48M | $1.74M | $2.2M | $1.95M | $2.01M | $1.3M | $1.48M | $1.26M | $897K | $529K | $506K | $524K | $556K | $560K | $592K | $625K | $917K | $724K | $1.11M | $1.41M | $1.36M | $2.26M | $2.05M | $2.05M | $1.64M | $1.73M | $1.83M | $1.6M | $1.4M | $1.5M | $1.7M | $1.6M | $3.1M | $3.4M | $4.1M | $4.8M | $3.2M | $500K | $500K | $1.5M |
| Long-Term Liabilities | ||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $35K | $81K | $115K | $0 | $0 | $0 | $0 | $255K | $345K | $95K | $0 | $0 | $0 | $0 | $300K | $900K | $0 | $0 | $100K | $100K | $1.2M | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $8K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $284 | $0 | $0 | $0 | $0 | -$8K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$115K | $56K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $100K | -$100K | $100K | -$100K | -$100K | $0 | $0 | $200K | $200K |
| Total Long-Term Liabilities | $1.65M | $100K | $459K | $785K | $1.04M | $1.29M | $1.57M | $1M | $0 | $8K | $0 | $0 | $0 | $0 | $0 | $0 | $35K | $81K | $115K | $60K | $9K | $0 | $0 | $255K | $345K | $95K | $0 | $0 | -$100K | $0 | $300K | $1M | -$100K | $100K | $100K | $100K | $1.2M | $0 | $200K | $200K |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1M | $0 | -$8K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$100K | -$100K | $0 | $0 | $0 | $0 |
| Total Liabilities | $4.13M | $1.84M | $2.66M | $2.73M | $3.05M | $2.59M | $3.05M | $1.26M | $897K | $529K | $506K | $524K | $556K | $560K | $592K | $625K | $952K | $804K | $1.22M | $1.47M | $1.36M | $2.26M | $2.05M | $2.3M | $1.98M | $1.83M | $1.83M | $1.6M | $1.3M | $1.5M | $2M | $2.6M | $3M | $3.5M | $4.1M | $4.8M | $4.4M | $500K | $700K | $1.7M |
| Stockholders' Equity | ||||||||||||||||||||||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $26K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $255K | $203K | $1.35M | $1.35M | $1.03M | $985K | $939K | $774K | $711K | $681K | $654K | $605K | $603K | $582K | $556K | $549K | $533K | $530K | $519K | $476K | $461K | $460K | $460K | $446K | $438K | $391K | $366K | $300K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Retained Earnings | -$56.94M | -$53.17M | -$48.2M | -$42.22M | -$35.08M | -$30.55M | -$21.93M | -$19.59M | -$17.19M | -$15.73M | -$14.82M | -$13.32M | -$12.99M | -$12.77M | -$13.31M | -$13.86M | -$14.02M | -$13.68M | -$14.04M | -$15.75M | -$16.28M | -$16.52M | -$16.68M | -$16.45M | -$16.19M | -$15.77M | -$13.1M | -$9.2M | -$9.1M | -$9.3M | -$9.7M | -$10.2M | -$10.2M | -$10.3M | -$9.9M | -$8.9M | -$7.9M | -$7.3M | -$6.4M | -$6M |
| Comprehensive Income & Other | -$108K | -$105K | -$102K | -$110K | -$74K | -$48K | -$40K | -$37K | -$26K | -$16K | -$14K | -$12K | -$10K | -$9K | -$6K | -$4K | -$4K | -$2K | -$4K | -$230K | -$177K | $526 | $18K | -$10K | -$20K | -$10K | -$4K | -$2.8M | -$2.6M | -$2.6M | -$2.7M | -$2.5M | -$2.6M | -$2.6M | -$2.4M | -$2.6M | -$2.6M | -$900K | -$900K | -$900K |
| Other Stockholders' Equity | $59.32M | $57.07M | $53.44M | $52.59M | $42.37M | $38.79M | $35.2M | $22.79M | $20.81M | $19.54M | $19.39M | $18.31M | $18.3M | $18.03M | $17.73M | $17.64M | $17.55M | $17.5M | $17.4M | $17.02M | $16.89M | $17.11M | $17.14M | $17.11M | $16.96M | $16.85M | $15.53M | $12.7M | $12.8M | $12.9M | $11.7M | $11.6M | $11.8M | $11.5M | $11.2M | $10.7M | $10.7M | $10.6M | $10.5M | $10.6M |
| Total Equity | $2.63M | $4.11M | $6.59M | $11.72M | $8.32M | $9.23M | $14.21M | $3.98M | $4.33M | $4.49M | $5.22M | $5.6M | $5.91M | $5.83M | $4.98M | $4.33M | $4.06M | $4.35M | $3.88M | $1.75M | $1.06M | $1.05M | $926K | $1.1M | $1.21M | $1.47M | $2.8M | $3.8M | $3.7M | $3.6M | $2M | $1.4M | $1.6M | $1.2M | $1.3M | $1.8M | $2.8M | $3.3M | $4.1M | $4.6M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.48M | $2.59M | $2.15M | $2.08M | $2.05M | $2.11M | $2.4M | $2.5M | $2.3M | $2.1M | $1.8M | $1.7M | $1.6M | $1M | $700K | $1.8M | $0 | $0 | $0 |
| Total Liabilities and Equity | $6.76M | $5.95M | $9.25M | $14.45M | $11.37M | $11.82M | $17.26M | $5.25M | $5.22M | $5.02M | $5.73M | $6.12M | $6.47M | $6.39M | $5.57M | $4.96M | $5.02M | $5.15M | $5.11M | $3.22M | $2.43M | $3.31M | $2.98M | $3.4M | $3.19M | $3.3M | $4.62M | $5.4M | $5M | $5.1M | $4M | $4M | $4.6M | $4.7M | $5.4M | $6.6M | $7.2M | $3.8M | $4.8M | $6.3M |
| Supplementary Data | ||||||||||||||||||||||||||||||||||||||||
| Total Debt | $2.38M | $458K | $785K | $1.08M | $1.38M | $1.62M | $1.78M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $43K | $35K | $80K | $81K | $215K | $176K | $273K | $476K | $317K | $314K | $441K | $235K | $160K | $200K | $100K | $400K | $800K | $1.3M | $1.8M | $2.2M | $2.3M | $2.7M | $2.8M | $0 | $0 | $0 |
| Net Debt | $1.07M | -$1.94M | -$3.38M | -$8.64M | -$4.54M | -$2.58M | -$6.86M | -$687K | -$1.2M | -$1.23M | -$1.89M | -$1.09M | -$1.51M | -$2.47M | -$1.03M | -$954K | -$975K | -$1.52M | -$1.81M | -$340K | $153K | $124K | -$35K | -$211K | $111K | $99K | -$474K | -$1.5M | -$1.7M | -$1.3M | $200K | $600K | $1M | $1.9M | $2M | $2.5M | $2.8M | $0 | -$3.7M | -$4.7M |
Cash Flow Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 | FY 1996 | FY 1995 | FY 1994 | FY 1993 | FY 1992 | FY 1991 | FY 1990 | FY 1989 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-05-31 | 2025-05-31 | 2024-05-31 | 2023-05-31 | 2022-05-31 | 2021-05-31 | 2020-05-31 | 2019-05-31 | 2018-05-31 | 2017-05-31 | 2016-05-31 | 2015-05-31 | 2014-05-31 | 2013-05-31 | 2012-05-31 | 2011-05-31 | 2010-05-31 | 2009-05-31 | 2008-05-31 | 2007-05-31 | 2006-05-31 | 2005-05-31 | 2004-05-31 | 2003-05-31 | 2002-05-31 | 2001-05-31 | 2000-05-31 | 1999-05-31 | 1998-05-31 | 1997-05-31 | 1996-05-31 | 1995-05-31 | 1994-05-31 | 1993-05-31 | 1992-05-31 | 1991-05-31 | 1990-05-31 | 1989-05-31 |
| Operating Activities | ||||||||||||||||||||||||||||||||||||||
| Net Income | -$3.77M | -$4.97M | -$5.98M | -$7.14M | -$4.53M | -$7.45M | -$2.34M | -$2.39M | -$1.47M | -$909K | -$1.5M | -$331K | -$216K | $537K | $548K | $157K | -$331K | $354K | $1.71M | $509K | $154K | -$21K | -$299K | -$224K | -$567K | -$579K | -$3.89M | -$100K | $100K | $400K | $400K | $100K | -$100K | -$400K | -$900K | -$1.2M | -$600K | -$900K |
| Depreciation & Amortization | $421K | $400K | $374K | $351K | $595K | $376K | $399K | $163K | $187K | $219K | $232K | $253K | $207K | $217K | $180K | $148K | $114K | $89K | $66K | $57K | $122K | $159K | $144K | $117K | $192K | $209K | $222K | $300K | $200K | $200K | $300K | $400K | $400K | $500K | $800K | $800K | $500K | $100K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $10K | $31K | -$17K | $703K | -$298K | -$217K | $9K | -$569K | $21K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $476K | $460K | $837K | $1.19M | $1.26M | $1.35M | $200K | $151K | $18K | $22K | $15K | $10K | $11K | $21K | $54K | $28K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||||||||||||||||||||||
| Accounts Receivable | -$66K | $209K | -$215K | -$291K | $1.37M | -$456K | -$309K | -$670K | $253K | -$132K | $151K | $349K | -$490K | $326K | -$534K | $262K | -$314K | -$29K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | -$140K | $882K | -$115K | $534K | $1.56M | -$1.91M | -$717K | $21K | -$457K | $150K | $137K | -$243K | -$159K | $246K | -$28K | $4K | $293K | -$370K | -$302K | -$334K | -$262K | $32K | -$18K | $261K | -$92K | -$128K | $198K | -$500K | -$100K | -$400K | -$200K | $0 | $500K | $0 | -$100K | $700K | $0 | $100K |
| Accounts Payable | $499K | -$466K | $246K | -$80K | -$403K | -$403K | -$13K | $344K | $319K | $10K | -$31K | -$29K | $104K | -$5K | -$64K | -$122K | $53K | -$293K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | -$436K | -$357K | -$541K | -$201K | $391K | $1.68M | -$1.5M | $117K | -$82K | -$75K | $84K | -$76K | -$51K | $45K | $18K | -$97K | -$14K | -$69K | -$551K | $86K | -$169K | $81K | -$65K | $117K | $17K | $244K | $266K | $0 | $0 | $500K | -$200K | -$100K | $100K | -$500K | $500K | $800K | -$100K | $100K |
| Total Working Capital Change | -$143K | $268K | -$625K | -$38K | $2.91M | -$1.09M | -$2.54M | -$188K | $32K | -$47K | $341K | -$69 | -$597K | $612K | -$608K | $47K | $18K | -$761K | -$853K | -$248K | -$431K | $113K | -$83K | $378K | -$75K | $116K | $465K | -$500K | -$100K | $100K | -$400K | -$100K | $600K | -$500K | $400K | $1.5M | -$100K | $200K |
| Other Non-Cash Items | -$400K | $4K | $31K | $168K | -$719K | $1.55M | -$38K | $13K | $23K | $8K | -$923 | -$39K | -$51K | -$1K | $542K | -$72K | -$37K | $216K | -$1.12M | $146K | -$230K | -$178K | $163K | $242K | $318K | $363K | $640K | -$100K | $200K | -$100K | $200K | $100K | $100K | -$200K | -$700K | $0 | $0 | $0 |
| Net Cash from Operating | -$3.42M | -$3.84M | -$5.36M | -$5.47M | -$481K | -$5.25M | -$4.3M | -$2.24M | -$1.17M | -$723K | -$209K | -$405K | -$862K | $1.39M | $147K | $329K | -$237K | -$102K | -$195K | $464K | -$385K | $73K | -$75K | $513K | -$131K | $109K | -$2.56M | -$400K | $400K | $700K | $500K | $500K | $1M | -$400K | -$400K | $1.1M | -$200K | -$600K |
| Investing Activities | ||||||||||||||||||||||||||||||||||||||
| Capital Expenditures | -$1K | -$37K | -$51K | -$78K | -$170K | -$296K | -$119K | -$171K | -$130K | -$96K | -$95K | -$25K | -$284K | -$257K | -$215K | -$266K | -$369K | -$116K | -$265K | -$113K | -$252K | -$242K | -$436K | -$236K | -$12K | -$62K | -$206K | -$100K | -$100K | -$200K | -$100K | -$200K | -$100K | -$100K | -$100K | -$400K | -$200K | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$165K | $0 | -$100K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$200K | -$100K | $0 | $0 | $0 | -$100K | $0 | $0 | -$100K |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $100K | $0 | $0 | $0 | $685 | $9K | $46K | $0 | $39K | $86K | $18K | $300K | $200K | $0 | $100K | $200K | $100K | $100K | $0 | $300K | $600K | $1.5M |
| Other Investing Activities | $0 | $0 | -$64K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $102K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $192K | $27K | -$172K | -$200K | -$100K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$300K | -$1.5M |
| Net Cash from Investing | -$1K | -$37K | -$115K | -$78K | -$170K | -$296K | -$119K | -$171K | -$130K | -$96K | -$95K | -$23K | -$283K | -$257K | -$113K | -$432K | -$269K | -$216K | $1.52M | -$63K | -$252K | -$233K | -$390K | -$236K | $219K | $51K | -$360K | $0 | $0 | -$400K | -$100K | $0 | $0 | $0 | -$200K | -$100K | $100K | -$100K |
| Financing Activities | ||||||||||||||||||||||||||||||||||||||
| Debt Repaid | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $35K | $45K | $42K | $44K | -$97K | $35K | -$39K | -$175K | -$3K | $127K | -$206K | -$75K | $20K | -$100K | $300K | $300K | $500K | $600K | $400K | - | - | -$200K | -$100K | - |
| Common Stock Issuance | $2.37M | $2.14M | -$81K | $10.01M | $2.4M | $1.18M | $10.23M | $1.78M | $1.27M | $158K | $996K | $0 | $150K | $250K | $0 | $0 | $0 | $0 | $149K | $31K | $503K | $1K | $323K | $40K | $11K | $249K | $2.03M | $200K | $0 | $1.1M | $0 | $0 | $0 | $100K | $300K | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | -$705K | -$85K | -$166K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$3K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$40K | -$32K | $0 | $81K | $78K | $102K | $224K | $131K | $27K | $0 | $110K | $0 | $35K | $52K | $0 | $0 | $0 | $36K | $0 | $0 | $37K | $0 | -$33K | $9K | -$103K | -$962K | -$118K | -$100K | $0 | $0 | $0 | $0 | -$100K | $300K | $400K | -$1.1M | -$200K | $0 |
| Net Cash from Financing | $2.33M | $2.11M | -$81K | $9.39M | $2.39M | $1.11M | $12.37M | $1.91M | $1.29M | $158K | $1.11M | $10K | $185K | $259K | $55K | $38K | -$32K | -$107K | $184K | -$4K | $539K | $160K | $292K | -$77K | $114K | -$638K | $1.89M | $200K | -$300K | $800K | -$500K | -$600K | -$500K | $400K | $700K | -$900K | -$100K | $0 |
| Forex Effect | -$3K | -$3K | $8K | -$36K | -$26K | -$8K | -$3K | -$10K | -$10K | -$2K | -$1K | -$2K | -$1K | -$3K | -$2K | -$947 | -$2K | -$2K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$1.09M | -$1.77M | -$5.55M | $3.8M | $1.72M | -$4.44M | $7.95M | -$518K | -$21K | -$663K | $801K | -$421K | -$961K | $1.39M | $88K | -$66K | -$541K | -$427K | $1.51M | $397K | -$98K | -$493 | -$173K | $199K | $202K | -$479K | -$1.03M | -$100K | $100K | $1.1M | -$100K | -$100K | $500K | $0 | $100K | $100K | -$200K | -$700K |
| Supplementary Data | ||||||||||||||||||||||||||||||||||||||
| Operating Cash Flow | -$3.42M | -$3.84M | -$5.36M | -$5.47M | -$481K | -$5.25M | -$4.3M | -$2.24M | -$1.17M | -$723K | -$209K | -$405K | -$862K | $1.39M | $147K | $329K | -$237K | -$102K | -$195K | $464K | -$385K | $73K | -$75K | $513K | -$131K | $109K | -$2.56M | -$400K | $400K | $700K | $500K | $500K | $1M | -$400K | -$400K | $1.1M | -$200K | -$600K |
| Capital Expenditure | -$1K | -$37K | -$115K | -$78K | -$170K | -$296K | -$119K | -$171K | -$130K | -$96K | -$95K | -$25K | -$284K | -$257K | -$215K | -$266K | -$369K | -$116K | -$265K | -$113K | -$252K | -$242K | -$436K | -$236K | -$12K | -$62K | -$206K | -$100K | -$100K | -$200K | -$100K | -$200K | -$100K | -$100K | -$100K | -$400K | -$200K | $0 |
| Free Cash Flow | -$3.42M | -$3.88M | -$5.48M | -$5.55M | -$651K | -$5.55M | -$4.42M | -$2.42M | -$1.3M | -$819K | -$304K | -$430K | -$1.15M | $1.14M | -$67K | $62K | -$606K | -$218K | -$459K | $351K | -$638K | -$169K | -$511K | $276K | -$143K | $47K | -$2.77M | -$500K | $300K | $500K | $400K | $300K | $900K | -$500K | -$500K | $700K | -$400K | -$600K |
| Cash at Beginning | $2.4M | $4.17M | $9.72M | $5.92M | $4.2M | $8.64M | $687K | $1.2M | $1.23M | $1.89M | $1.09M | $1.51M | $2.47M | $1.08M | $989K | $1.06M | $1.6M | $2.02M | $517K | $120K | $218K | $352K | $525K | $329K | $127K | $615K | $1.67M | $1.8M | $1.7M | $600K | $700K | $800K | $300K | $300K | $200K | $0 | $0 | $800K |
| Cash at End | $1.31M | $2.4M | $4.17M | $9.72M | $5.92M | $4.2M | $8.64M | $687K | $1.2M | $1.23M | $1.89M | $1.09M | $1.51M | $2.47M | $1.08M | $989K | $1.06M | $1.6M | $2.02M | $517K | $120K | $352K | $352K | $528K | $329K | $136K | $634K | $1.7M | $1.8M | $1.7M | $600K | $700K | $800K | $300K | $300K | $100K | -$200K | $100K |