XML 15 R5.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities:    
Net income (loss) $ 623,644 $ (238,305)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 144,893 201,634
Stock-based compensation 5,306 7,535
Non-cash life insurance policy reduction / (accretion) (6,617)
Non-cash other revenue (86,433)
Non-cash miscellaneous loss 24,618
(Gain) loss on sale of property, plant and equipment (434,549) (3,800)
Foreign currency transaction (gain) loss 5,925 341
(Increase) decrease in trade, accounts & notes receivable, and deposits from related parties (839,989) (104,767)
(Increase) decrease in inventories 705,371 393,576
(Increase) decrease in refundable income taxes 1,918 (3,550)
(Increase) decrease in prepaid expenses and other current assets (251,056) (320,175)
(Increase) decrease in other assets (49,681) (6,052)
Increase (decrease) in income taxes payable 42,522 18,664
Increase (decrease) in accounts payable & accrued expenses, deferred revenue, and other noncurrent liabilities (19,235) 561,297
Net cash provided by (used in) operating activities (126,746) 499,781
Investing activities:    
Purchase of property, plant and equipment (38,890) (15,383)
Proceeds from the sale of property, plant and equipment 3,888
Payments received on notes receivables - related parties 49,691 28,326
Net cash provided by investing activities 10,801 16,831
Financing activities:    
Proceeds from line of credit borrowings 500,000
Principal payments on long-term borrowings (108,320)
Net cash provided by (used in) financing activities 500,000 (108,320)
Effect of exchange rate changes on cash and cash equivalents 7,058 (4,240)
Increase (decrease) in cash and cash equivalents 391,113 404,052
Cash and cash equivalents at beginning of period 1,989,974 3,272,788
Cash and cash equivalents at end of period $ 2,381,087 $ 3,676,840