XML 43 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash Flows From Operating Activities:    
Net income loss $ (1,085,588) $ (287,589)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization expense 503,016 349,375
Accretion of asset retirement obligation 6,030 6,030
Common stock issued to directors for services 2,628 176,191
Deferred income tax expense (benefit) 229,451 (74,311)
Change in:    
Accounts receivable, net (207,261) 946,829
Inventories 312,584 (387,820)
Other current assets (33,118) 250,737
Other assets (165,438) (100,275)
Accounts payable 348,121 (24,095)
Accrued payroll, taxes and interest 10,835 (48,823)
Other accrued liabilities 44,695 (86,858)
Deferred revenue 91,692 (12,092)
Payables to related parties (8,988) (318,596)
Net cash provided by operating activities 48,659 388,703
Cash Flows From Investing Activities:    
Purchase of certificates of deposit 0 (242,800)
Purchase of properties, plants and equipment (1,742,783) (2,292,246)
Net cash used by investing activities (1,742,783) (2,535,046)
Cash Flows From Financing Activities:    
Proceeds from long term debt 200,000 0
Net proceeds from (payments to) factor 157,482 93,857
Proceeds from sale of common stock and warrants, net of offering costs 653,604 4,624,763
Issuance of common stock pursuant to exercise of warrants 0 60,000
Principal payments of long-term debt (232,931) (147,095)
Change in checks issued and payable 0 (113,908)
Net cash provided by financing activities 778,155 4,517,617
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (915,969) 2,371,274
Cash and cash equivalents at beginning of period 1,000,811 5,427
Cash and cash equivalents at end of period 84,842 2,376,701
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Properties, plants & equipment acquired with long-term debt 0 352,150
Properties, plants and equipment acquired with accounts payable 318,335 0
Common stock issued for prepaid directors fees 0 426,819
Common stock issued pursuant to cashless exercise of warrants 0 253
Fair value of derivative liability $ 108,750