XML 15 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (153,587) $ (201,223)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 352,000 327,759
Amortization 14,385 13,161
Stock based compensation 11,763 10,433
Net gain on sale and disposal of property, plant and equipment (5,750)  
Loss on intangible asset abandonment   45,873
Changes in working capital components:    
Trade receivables 353,963 (58,580)
Inventories (95,743) 266,757
Prepaid expenses and other assets (55,625) (59,520)
Income tax receivable (28,882) (82,460)
Accounts payable 90,470 225,036
Accrued expenses 45,214 (17,818)
Net cash provided by (used in) operating activities 528,208 469,418
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant, equipment and construction in progress (1,843,879) (567,578)
Proceeds from sales of equipment 21,000  
Purchases of intangibles (22,395) (30,276)
Purchases of short-term investments (3,399,000) (650,000)
Proceeds on sale of short-term investments   1,211,000
Net cash used in investing activities (5,244,274) (36,854)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from long-term debt 3,415,000  
Payment on debt issuance costs (139,418)  
Payments on long-term debt (10,858)  
Proceeds from exercise of stock options 3,765  
Net cash provided by financing activities 3,268,489  
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1,447,577) 432,564
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 2,248,466 1,936,214
CASH AND CASH EQUIVALENTS AT END OF PERIOD 800,889 2,368,778
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Construction in progress included in construction accounts payable 60,166  
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 6,699  
Cash received (paid) for income taxes, net of $12,700 taxes paid in 2016 $ 100,758 $ (10,805)