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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income $ 1,611,354 $ 1,860,003
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 270,317 200,818
Amortization of intangible assets 233,896 184,548
Impairments 0 66,364
Loss on sale of property and equipment 3,121 12,422
Bad debt expense 22,832 58,738
Deferred income tax (31,764) (41,439)
Accretion on notes payable 11,017 19,978
Changes in current assets and liabilities:    
Accounts receivable (157,943) (414,560)
Inventory, net (3,932,654) (2,780,162)
Prepaid expenses and other current assets (18,366) (269,154)
Income tax receivable 94,729 0
Other assets (326,798) (37,715)
Accounts payable and accrued liabilities 2,201,806 2,241,833
Income tax payable 290,610 (86,825)
Net cash provided by operating activities 272,157 1,014,849
Cash flows used in investing activities    
Purchase of property, plant and equipment (776,057) (400,814)
Proceeds from sale of property and equipment 24,659 14,629
Acquisition of a business, net of cash acquired (1,247,843) 0
Development of intangible assets (109,414) (55,425)
Net cash used in investing activities (2,108,655) (441,610)
Cash flows from financing activities    
Borrowings on revolving credit agreement 6,000,000 0
Repayments of notes payable (143,293) (188,406)
Purchase of minority interest (784,653) 0
Net cash provided by (used in) financing activities 5,072,054 (188,406)
Net change in cash and cash equivalents 3,235,556 384,833
Foreign exchange impact on cash and cash equivalents 51,216 20,266
Increase in cash and cash equivalents during the period 3,286,772 405,099
Cash and cash equivalents at beginning of period 11,500,973 3,971,226
Cash and cash equivalents at end of period 14,787,745 4,376,325
Supplemental schedule of non-cash activities    
Notes payable issued for acquisitions 893,317 0
Supplemental cash flow information    
Cash paid for income taxes 77,026 759,803
Cash paid for interest $ 2,290 $ 7,644