XML 22 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Operating activities    
Net income $ 1,754,741 $ 1,793,334
Adjustments to reconcile net income to net cash:    
Stock based compensation 116,092 66,318
Depreciation and amortization 286,616 540,079
Loss on investment 84,066 15,086
Decrease in deferred tax asset 985,495 303,793
Write down of inventory (51,346)
Gain on involuntary disposition (2,043,614)
Changes in non-cash working capital items:    
(Increase) Decrease in accounts receivable 912,056 (1,199,267)
(Increase) Decrease in inventories (887,339) (506,278)
(Increase) Decrease in prepaid expenses (23,758) 15,793
Increase (Decrease) in accounts payable and accrued liabilities (407,555) 90,111
Increase (Decrease) in taxes payable 207,729 600,629
Increase (Decrease) deferred revenue 109,242 55,628
Cash provided by operating activities 1,042,425 1,775,226
Investing activities    
Long term deposits 7,980 (15,925)
Investment 25,000 (87,500)
Proceed from insurance 3,366,889
Net purchase of property, equipment and leaseholds (426,480) (114,270)
Cash used in investing activities 2,973,389 (217,695)
Financing activities    
Draw from short term line of credit 50,000
Loan repayment (201,193) (201,193)
Repurchase of common stock (1,575,000)
Proceeds of issuance of common stock 156,020 32,600
Cash used in financing activities (45,173) (1,693,593)
Effect of exchange rate changes on cash 471,431 107,390
Inflow (outflow) of cash 4,442,072 (28,672)
Cash and cash equivalents, beginning 2,470,066 2,498,738
Cash and cash equivalents, ending 6,912,138 2,470,066
Supplemental disclosure of cash flow information:    
Income taxes paid 833,766 452,654
Interest paid $ 43,003 $ 41,699