Company: APT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033545
Chunk: 26

Company: ALPHA PRO TECH LTD
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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30, 2025, decreased by $670,000 to $8,105,000 from $8,775,000 as of December 31, 2024. The decrease in lease liabilities was the result of lease payments made during the period.

Accounts payable and accrued liabilities as of September 30, 2025, increased by $489,000, or 21.9%, to $2,719,000, from $2,230,000 as of December 31, 2024. The increase was primarily due to increases in trade payables, partially offset by decreases in accrued bonuses.

Net cash used in investing activities was $372,000 for the nine months ended September 30, 2025, compared to net cash used in investing activities of $2,333,000 for the same period of 2024. Investing activities for the nine months ended September 30, 2025 and 2024 consisted primarily of the purchase of equipment.

Net cash used in financing activities was $2,658,000 for the nine months ended September 30, 2025, compared to net cash used in financing activities of $2,936,000 for the same period of 2024. Net cash used in financing activities for the nine months ended September 30, 2025 resulted from the payment of $2,632,000 for the repurchase of common stock and $26,000 for treasury stock excise tax. Net cash used in financing activities for the nine months ended September 30, 2024 resulted from the payment of $3,731,000 for the repurchase of common stock and $37,000 for treasury stock excise tax, partially offset by $832,000 in proceeds from the exercise of stock options.

As of September 30, 2025, we had $2,111,000 available for stock purchases under our stock repurchase program. During the nine months ended September 30, 2025, we repurchased 532,313 shares of common stock at a cost of $2,632,000. As of September 30, 2025, we had repurchased a total of 21,774,940 shares of common stock at a cost of approximately $57,410,000 through our repurchase program which commenced in 1999. We retire all stock upon repurchase. Future repurchases are expected to be funded from cash on hand and cash flows from operating activities.

We believe that our current cash balance and expected cash