XML 15 R5.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net income for the period including non-controlling interest $ 1,948,642 $ 1,959,221
Adjustments to reconcile net income to cash provided by operations:    
Stock based compensation 379,260 366,526
Depreciation and amortization 939,524 751,574
Lease right of use amortization 13,694 25,687
Lease right of use financing 1,186 3,353
Loss on termination lease 41,350
Gain on investment (298,438) (326,703)
Changes in non-cash working capital items:    
(Increase) Decrease in accounts receivable 1,050,360 2,014,807
(Increase) Decrease in inventories 800,931 3,646,494
(Increase) Decrease in prepaid expenses 954,450 (558,583)
Increase (Decrease) in accounts payable and accrued liabilities 478,723 (8,821)
Increase (Decrease) in taxes payable 822,429 405,577
Increase (Decrease) deferred revenue (68,375) (352,357)
Cash provided by operating activities 7,063,736 7,926,775
Investing activities    
Long term deposits (1,703,091) (361,616)
Proceeds of equity method investment distributions 427,000
Net purchase of property, equipment and leaseholds (1,663,697) (3,784,193)
Non-controlling interest of 317 Mendota 200,000
Additional investment in Trio (470,000)
Cash (used in) investing activities (2,939,788) (4,415,809)
Financing activities    
Repayment of short term line of credit (1,190,635) (2,818,591)
Repayment of long term debt (373,615) (361,265)
Proceeds from loans 524,812 2,248,292
Dividends paid (1,255,053) (626,777)
Lease financing costs (50,790) (29,040)
Distributions to non-controlling interest (365,644) (387,696)
Proceeds of issuance of common stock 26,250 13,600
Cash (used in) financing activities (2,684,675) (1,961,477)
Effect of exchange rate changes on cash 62,341 59,406
Inflow (outflow) of cash 1,501,614 1,608,895
Cash and term deposits, beginning 7,707,824 6,815,099
Cash and cash equivalents, ending 9,209,438 8,423,994
Cash and term deposits are comprised of:    
Cash 6,843,825 7,413,753
Term deposits $ 2,365,613 $ 1,010,241