Company: APT
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025400
Chunk: 28

Company: ALPHA PRO TECH LTD
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 of December 31, 2024. The decrease was primarily due to decreases in accrued bonuses, partially offset by increased trade payables.

Net cash used in investing activities was $273,000 for the six months ended June 30, 2025, compared to net cash used in investing activities of $216,000 for the same period of 2024. Investing activities for the six months ended June 30, 2025 and 2024 consisted primarily of the purchase of property and equipment.

Net cash used in financing activities was $2,028,000 for the six months ended June 30, 2025, compared to net cash used in financing activities of $1,913,000 for the same period of 2024. Net cash used in financing activities for the six months ended June 30, 2025 resulted from the payment of $2,008,000 for the repurchase of common stock and $20,000 for treasury stock excise tax. Net cash used in financing activities for the six months ended June 30, 2024 resulted from the payment of $2,701,000 for the repurchase of common stock and $27,000 for treasury stock excise tax, partially offset by $815,000 in proceeds from the exercise of stock options.

As of June 30, 2025, we had $2,735,000 available for stock purchases under our stock repurchase program. During the six months ended June 30, 2025, we repurchased 402,513 shares of common stock at a cost of $2,008,000. As of June 30, 2025, we had repurchased a total of 21,645,140 shares of common stock at a cost of approximately $56,786,000 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.

23

Alpha Pro Tech, Ltd.

We believe that our current cash balance and expected cash flow from operations will be sufficient to satisfy our projected working capital and planned capital expenditures for the foreseeable future.

Recent Accounting Pronouncements

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. These amendments address investor requests for enhanced transparency regarding income tax information. Specifically, they improve income tax disclosures related to rate reconciliation and income taxes paid.