XML 17 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (448,566) $ (941,847)
Adjustments to reconcile net loss to net cash from (used by) operating activities:    
Depreciation and amortization 689,749 700,244
Stock based compensation 191,360 86,486
Paid in-kind interest 36,000 39,000
Change in deferred tax provision 9,474 9,474
Amortization of deferred financing costs 72,432 10,576
Decrease (increase) in assets:    
Accounts receivable 16,615 (21,380)
Inventory (317,502) (225,290)
Prepaid expenses and other current assets 52,496 (11,686)
Restricted cash (225,218) 75,274
Increase (decrease) in liabilities:    
Accounts payable (445,590) 316,587
Accrued expenses and other liabilities (656,033) (104,071)
Net cash used by operating activities (1,024,783) (66,633)
Cash flows from investing activities:    
Purchase of property, plant and equipment (365,659) (128,632)
Proceeds from sale of intangibles 495,000
Purchase of intangible assets (4,903) (67,944)
Net cash (used) provided by investing activities (370,562) 298,424
Cash flows from financing activities:    
Payments of long-term debt (407,648) (900,808)
Issuances of common stock, net of issuance costs
Net cash used by financing activities (407,648) (900,808)
Net decrease in cash (1,802,993) (669,017)
Cash at beginning of period 5,871,738 1,440,256
Cash at end of period $ 4,068,745 $ 771,239