XML 18 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 135,007 $ 648,770
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 659,528 635,607
Amortization 25,040 25,775
Stock based compensation 21,743 18,415
Gain on sale and disposal of property, plant and equipment   (45,659)
Deferred income taxes 18,000 (10,000)
Loss on intangible asset abandonment 45,873  
Changes in working capital components:    
Trade receivables (68,866) (45,475)
Inventories 510,845 (75,708)
Prepaid expenses and other assets 752 17,287
Income tax receivable 60,873 (121,776)
Accounts payable 49,064 (161,113)
Accrued expenses 8,202 30,625
Net cash provided by operating activities 1,466,061 916,748
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant, equipment and construction in progress (2,866,671) (434,463)
Proceeds from sales of equipment and vehicles   61,763
Purchases of intangibles (53,138) (56,998)
Purchases of short-term investments (650,000) (2,716,000)
Proceeds on sale of short-term investments 2,416,000 2,414,877
Net cash used in investing activities (1,153,809) (730,821)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of stock options   45,987
NET INCREASE IN CASH AND CASH EQUIVALENTS 312,252 231,914
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 1,936,214 1,704,300
CASH AND CASH EQUIVALENTS AT END OF PERIOD 2,248,466 1,936,214
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Construction in progress included in construction payable 333,339  
Cash paid for income taxes $ 11,127 $ 401,776