XML 68 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Operating activities    
Net income (loss) $ 244,175 $ 135,329
Stock compensation expense 41,385 59,500
Depreciation 325,886 656,486
Changes in non-cash working capital items:    
(Increase) Decrease in accounts receivable (251,758) (548,219)
(Increase) Decrease in inventory 39,413 236,544
(Increase) Decrease in prepaid expenses 22,561 (106,564)
(Increase) Decrease in deferred tax assets 98,709 0
Increase (Decrease) in accounts payable (101,586) (141,512)
Increase (Decrease) in taxes payable 0 (120,000)
Increase (Decrease) in deferred revenue (6,848) (54,975)
Cash provided by (used in) operating activities 411,937 116,589
Investing activities    
Acquisition of property and equipment (16,190) (55,487)
Cash provided by (used in) investing activities (16,190) (55,487)
Financing activities    
Short term line of credit (repayment) (400,000) 195,000
Repayments of loans (64,393) (84,488)
Cash provided (used) by financing activities (464,393) 110,512
Effect of exchange rate changes on cash (3,510) (21,118)
Inflow (outflow) of cash (72,156) 150,496
Cash and cash equivalents, beginning 568,087 381,867
Cash and cash equivalents, ending 495,931 512,363
Supplemental disclosure of cash flow information:    
Income taxes paid 0 190,000
Interest paid $ 55,103 $ 77,349