XML 16 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Statement of Cash Flows [Abstract]    
Net Income $ 1,532,472 $ 584,533
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 376,502 166,137
Capitalization of select merger costs 0 (57,507)
Common stock issued (cancelled) for services 105,501 405,741
Warrants and options issued (cancelled) for services 45,028 0
Gain on write-up of investment 0 0
Intercompany transfer 0 0
Changes in operating assets and liabilities:    
Accounts receivable (1,369,673) (3,153,711)
Inventory 357,326 614,659
Deferred tax asset 123,879 0
Prepaid income tax 151,000 0
Prepaid expenses 145,167 (184,250)
Note receivable 9,985 (750,000)
Deposits 0 0
Accounts payable (666,806) 1,720,559
Accrued liabilities (369,941) 172,681
Litigation reserve (95,775) 0
Income tax payable 13,000 (37,000)
Net cash provided by (used in) operating activities 357,665 (518,158)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (21,619) (4,106)
Long-term investment 2,027 0
Repurchases of common stock 0 (398,209)
Net cash provided by (used in) investing activities (19,592) (402,316)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from draw down on credit line 520,000 0
Payments for redemption of preferred stock 0 0
Repayments of notes payable (404,261) (378,561)
Net cash provided by (used in) financing activities 115,739 (378,561)
INCREASE (DECREASE) IN CASH 453,811 (1,299,035)
CASH, BEGINNING OF PERIOD 1,532,550 4,353,699
CASH, END OF PERIOD 1,986,362 3,054,663
Supplemental disclosure operating activities    
Cash paid for interest $ 84,016 $ 18,745