XML 21 R5.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating activities    
Net income for the year $ 3,755,985 $ 7,713,229
Adjustments to reconcile net income to net cash:    
Stock based compensation 395,080 399,148
Depreciation and amortization 1,686,319 1,277,431
Lease right of use financing 6,151 8,566
Lease right of use amortization 51,929 50,045
Gain on investments (505,065) (341,424)
Gain on sale of asset (4,589)
Bad debt expense 17,869
Deferred income tax recovery (250,917) (71,295)
Gain on acquisition of ENP Peru, LLC (335,051)
Changes in non-cash working capital items:    
Increase in accounts receivable (393,199) (2,338,397)
Decrease (increase) in inventories 3,284,541 (4,124,022)
Decrease (increase) in prepaid expenses and deposits (1,230,626) 131,864
Increase (decrease) in accounts payable and accrued liabilities 434,964 (700,191)
Decrease in income taxes payable (1,137) (249,628)
(Decrease) increase in deferred revenue (239,471) 38,759
Cash provided by operating activities 6,989,965 1,476,903
Investing activities    
Purchase of investments (470,000)
Redemption of investments 200,000
Distributions received from equity investments 201,034 265,001
Non-controlling interest of 317 Mendota 200,000
Long term deposits (815,714)
Proceeds from sale of asset 5,411
Purchase of property and equipment (4,990,675) (1,981,307)
Acquisition of ENP Peru, LLC (499,329)
Cash used in investing activities (5,669,944) (2,215,635)
Financing activities    
(Repayment) advance of short term line of credit (1,008,112) 517,772
Repayment of long term debt (725,823) (2,292,819)
Proceeds of long term debt 2,686,682 3,230,798
Lease payments (58,080) (58,611)
Dividends paid (626,777)
Distribution to non-controlling interest (719,439) (689,434)
Common stock issued 13,600 140,620
Cash provided by (used in) financing activities (437,949) 848,326
Effect of exchange rate changes on cash 10,653 (30,069)
Inflow of cash 892,725 79,525
Cash resources, beginning 6,815,099 6,735,574
Cash resources 7,707,824 6,815,099
Cash resources are comprised of:    
Cash 5,017,583 6,115,099
Term deposits 2,690,241 700,000
Supplemental disclosure of cash flow information:    
Income taxes paid 119,319 158,966
Interest paid $ 498,666 $ 292,949