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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ 1,248,184 $ (1,902,472)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization expense 1,031,584 1,150,685
Amortization of operating lease right-of-use assets 285,184 285,184
Share-based compensation 74,212 78,754
Increase (decrease) in non-cash contingent consideration 44,976 (230,430)
Decrease (increase) in cash surrender value of life insurance policies over premiums paid 81,182 (129,217)
Noncash interest expense 5,362 3,810
Net changes in assets and liabilities affecting operating activities:    
Accounts receivable 1,213,541 (1,066,410)
Inventories, net 967,399 170,469
Other current assets and other assets 60,371 205,619
Operating lease liabilities (219,493) (213,825)
Accounts payable and other current liabilities (600,043) (645,542)
Other long-term liabilities (293,942) 156,728
Net cash provided by (used in) operating activities 3,898,517 (2,136,647)
Cash flows from investing activities:    
Additions to property and equipment (47,630) (41,621)
Net investment in manufacturing facility (1,162,357) 0
Additions to intangible assets (18,199) (16,565)
Net cash used in investing activities (1,228,186) (58,186)
Cash flows from financing activities:    
Proceeds from ATM offering, net 5,266,334 0
Borrowings on line of credit 0 11,000,000
Payments on line of credit (10,035,437) (7,700,000)
Cash settlement of contingent consideration (511,131) (630,701)
Payments made in connection with repurchase of common shares (245,868) (247,605)
Net cash provided by (used in) financing activities (5,526,102) 2,421,694
Net increase (decrease) in cash and cash equivalents (2,855,771) 226,861
Cash and cash equivalents at beginning of period 17,964,184 18,321,624
Cash and cash equivalents at end of period $ 15,108,413 $ 18,548,485