A handheld, lubrication dispensing apparatus for lubricating bearings of a machine with moving parts, comprising: a lubrication dispensing device capable of dispensing lubrication upon receipt of a start signal and ceasing lubrication upon receipt of a stop signal; a lubrication flow sensor to measure the amount of lubrication dispensed from the dispenser and output that information as data; a database containing stored data from the lubrication flow sensor, wherein the stored data includes a base value that corresponds to the detected amplitude of the machine with moving parts when in normal operation condition; an ultrasonic detection device which detects the amplitude of ultrasonic energy emitted by said device when its parts are moving and produces a heterodyned audio signal related thereto; a control module which analyzes the amplitude of the signal from the ultrasonic detection module and determines, in real time, the necessary amount of lubricant that needs to be dispensed in order to properly lubricate a bearing, said control module being configured to: send a start signal to the lubrication dispensing device; receive the heterodyned audio signal from the ultrasonic detection device; access the base value from the database; determining if the machine is in a normal or abnormal operation condition, wherein normal operation condition is determined by at least identifying whether the difference between the amplitude of the heterodyned audio signal and the base value substantially decreases during dispensing of lubrication, and abnormal operation condition is determined by at least identifying if the difference between the heterodyned audio signal and the base value does not substantially decrease during dispensing of lubrication; outputting an indication as to the determined operation condition; providing a stop signal to the lubrication dispensing device when the operation condition is determined to be abnormal or when the amplitude of the heterodyned audio signal is substantially close to the base value. a lubrication dispensing device capable of dispensing lubrication upon receipt of a start signal and ceasing lubrication upon receipt of a stop signal; a lubrication flow sensor to measure the amount of lubrication dispensed from the dispenser and output that information as data; a database containing stored data from the lubrication flow sensor, wherein the stored data includes a base value that corresponds to the detected amplitude of the machine with moving parts when in normal operation condition; an ultrasonic detection device which detects the amplitude of ultrasonic energy emitted by said device when its parts are moving and produces a heterodyned audio signal related thereto; a control module which analyzes the amplitude of the signal from the ultrasonic detection module and determines, in real time, the necessary amount of lubricant that needs to be dispensed in order to properly lubricate a bearing, said control module being configured to: send a start signal to the lubrication dispensing device; receive the heterodyned audio signal from the ultrasonic detection device; access the base value from the database; determining if the machine is in a normal or abnormal operation condition, wherein normal operation condition is determined by at least identifying whether the difference between the amplitude of the heterodyned audio signal and the base value substantially decreases during dispensing of lubrication, and abnormal operation condition is determined by at least identifying if the difference between the heterodyned audio signal and the base value does not substantially decrease during dispensing of lubrication; outputting an indication as to the determined operation condition; providing a stop signal to the lubrication dispensing device when the operation condition is determined to be abnormal or when the amplitude of the heterodyned audio signal is substantially close to the base value. send a start signal to the lubrication dispensing device; receive the heterodyned audio signal from the ultrasonic detection device; access the base value from the database; determining if the machine is in a normal or abnormal operation condition, wherein normal operation condition is determined by at least identifying whether the difference between the amplitude of the heterodyned audio signal and the base value substantially decreases during dispensing of lubrication, and abnormal operation condition is determined by at least identifying if the difference between the heterodyned audio signal and the base value does not substantially decrease during dispensing of lubrication; outputting an indication as to the determined operation condition; providing a stop signal to the lubrication dispensing device when the operation condition is determined to be abnormal or when the amplitude of the heterodyned audio signal is substantially close to the base value.