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CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net income $ 3,526,290 $ 1,303,031
Stock compensation expense 45,692 23,460
Depreciation and amortization 135,537 268,695
Decrease in deferred tax asset 23,404 104,379
Gain on involuntary disposition (2,245,718) 0
Changes in non-cash working capital items:    
(Increase) in accounts receivable (663,895) (540,159)
Decrease (Increase) in inventory (194,020) 64,148
Decrease (Increase) in prepaid expenses 74,283 (80,000)
Decrease in accounts payable (522,328) (263,844)
Increase (Decrease) in taxes payable (401,519) 367,799
(Decrease) in deferred revenue (185,253) 0
Cash (used in) provided by operating activities (407,527) 1,247,509
Investing activities    
Long term deposits 0 (350)
Investment 12,500 0
Proceeds from insurance 3,727,042 0
Acquisition of property and equipment (56,306) (79,750)
Cash (used in) provided by investing activities 3,683,236 (80,100)
Financing activities    
Short term line of credit 350,000 550,000
Loan repayment (100,597) (100,597)
Proceeds from sale of common stock 32,500 0
Repurchase of common stock 0 (1,575,000)
Cash provided (used) by financing activities 281,903 (1,125,597)
Effect of exchange rate changes on cash 228,789 40,096
(Outflow) Inflow of cash 3,786,401 81,908
Cash and cash equivalents, beginning 2,470,066 2,498,738
Cash and cash equivalents, ending 6,256,467 2,580,646
Supplemental disclosure of cash flow information:    
Income taxes paid 833,766 452,654
Interest paid $ 24,296 $ 22,558