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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES    
Net income $ (365,264) $ 1,668,618
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 259,801 249,889
Gain on sale of fixed assets 0 (16,930)
Bad debt expense 133,803 177,906
Stock awards issued for services 66,348 66,714
Changes in operating assets and liabilities:    
Accounts receivable 1,314,939 654,710
Income taxes receivable/payable 107,561 (234,042)
Inventories 537,668 656,988
Prepaid expenses 168,546 (239,395)
Deferred tax asset/liability (114,564) 123,764
Accounts payable and accrued liabilities (1,837,760) (499,721)
Net Cash Provided by Operating Activities 271,078 2,608,501
INVESTING ACTIVITIES    
Proceeds from sale of equipment 0 18,400
Sale of investments 387,326 647,739
Purchase of fixed assets (525,384) (443,883)
Net Cash Provided by (Used in) Investing Activities (138,058) 222,256
FINANCING ACTIVITIES    
Value of equity awards surrendered by employees for tax liability (148,879) (143,022)
Cash received in exercise of stock options 2,020 0
Purchase of treasury stock 0 (1,333,578)
Principal paid towards lease liability (19,089) (15,718)
Net Cash Used in Financing Activities (165,948) (1,492,318)
Effect of exchange rate changes on cash (95,598) 16,507
NET CHANGE IN CASH (128,526) 1,354,946
CASH AT BEGINNING OF PERIOD 7,358,856 10,101,932
CASH AT END OF PERIOD 7,230,330 11,456,878
CASH PAID FOR:    
Interest 872 1,411
Income taxes 0 711,524
NON-CASH FINANCING AND INVESTING ACTIVITIES:    
Common stock issued in settlement of accrued bonuses $ 419,373 $ 379,861