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Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 4,485,492 $ 2,110,129
Less income from discontinued operations 4,044,776 581,652
Income from continuing operations 440,716 1,528,477
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:    
Depreciation and amortization 5,327,327 5,178,270
Accretion 21,077 36,533
Amortization of debt issuance costs 517,379 304,177
Provision for doubtful accounts 133,041 829,814
Stock based compensation 133,974 312,100
Loss on goodwill and asset impairments 803,518 0
Gain on sale of marketable securities 0 (183,371)
Loss (gain) on sale of assets (34,812) 10,635
Loss from unconsolidated affiliate 0 977
Unrealized holding (gain) loss on contingent consideration (75,362) (3,000)
Change in fair value of derivative financial instruments (119,596) (8,419)
Investment tax credit (15,797) (15,797)
Deferred income taxes 2,685,702 1,243,512
Changes in assets and liabilities    
Accounts receivable, including related parties 7,532,912 5,467,686
Unbilled gas 5,360,535 5,011,695
Natural gas inventory (431,883) (3,048,511)
Accounts payable, including related parties (7,572,247) (3,425,347)
Recoverable/refundable cost of gas purchases (1,147,233) (624,880)
Regulatory assets & liabilities 186,122 (2,401,250)
Prepayments and other (1,101,642) (560,351)
Other assets (453,379) (141,418)
Other liabilities 57,390 (912,571)
Net cash provided by operating activities of continuing operations 12,247,742 8,598,961
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (8,325,234) (16,276,508)
Proceeds from sale of fixed assets 65,660 33,234
Proceeds from sale of marketable securities 0 421,875
Proceeds from note receivable 59,187 2,752
Restricted cash - capital expenditures fund 0 57,441
Customer advances for construction 33,335 15,303
Contributions in aid of construction 605,785 1,942,695
Net cash used in investing activities of continuing operations (7,561,267) (13,803,208)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from line of credit 13,750,000 16,450,000
Repayments of line of credit (26,760,799) (16,919,000)
Repayments of notes payable, including related parties (5,406,672) (3,429,702)
Proceeds from notes payable, including related parties 5,000,000 102,000
Repayments of build-to-suit (1,371,434) 0
Payments of capital lease obligations (188,224) (177,570)
Debt issuance costs (151,130) (9,298)
Restricted cash - debt service fund 5 131,840
Exercise of stock options 0 45,761
Dividends paid (2,833,656) (4,242,608)
Net cash used in financing activities of continuing operations (17,961,910) (8,048,577)
DISCONTINUED OPERATIONS    
Operating cash flows 1,288,242 1,907,389
Investing cash flows 14,305,421 (346,220)
Financing cash flows 0 53,892
Net cash provided by discontinued operations 15,593,663 1,615,061
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 2,318,228 (11,637,763)
Cash and cash equivalents, beginning of period 1,585,926 12,741,197
CASH AND CASH EQUIVALENTS, END OF PERIOD 3,904,154 1,103,434
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 2,085,083 1,842,202
Cash refunded for income taxes, net 0 6,025
NONCASH INVESTING AND FINANCING ACTIVITIES    
Assets acquired under build-to-suit agreement 3,182,310 4,148,469
Capital expenditures included in accounts payable 425,857 848,371
Capitalized interest 323,764 16,742
Restricted cash received from customer as security deposit 0 949,540
Accrued dividends 0 472,163
Capital assets acquired through trade-in 0 85,068
Capital assets acquired through debt $ 0 $ 25,543