XML 32 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Cash received from goods and services $ 5,343,000 $ 6,894,000
Cash paid to suppliers and employees (4,612,000) (5,193,000)
Interest paid (83,000) (89,000)
Net cash provided by operating activities 648,000 1,612,000
Cash flows from investing activities:    
Proceeds from sale of property and equipment   1,106,000
Purchase of property and equipment (644,000) (35,000)
Net cash (used in) provided by investing activities (644,000) 1,071,000
Cash flows from financing activities:    
Proceeds from rights offering 9,180,000  
Payment of rights offering fees (110,000)  
Proceeds from drawings on line of credit 2,100,000 400,000
Repayment on line of credit (8,000,000) (2,800,000)
Payments on long term borrowings (175,000) (175,000)
Net cash provided by (used in) financing activities 2,995,000 (2,575,000)
Net increase in cash and cash equivalents 2,999,000 108,000
Cash and cash equivalents at beginning of period 205,000 261,000
Cash and cash equivalents at end of period 3,204,000 369,000
Reconciliation of net loss to net cash provided by operating activities:    
Net loss (253,000) (628,000)
Adjustments to reconcile net loss to cash provided by operating activities:    
Depreciation and amortization 397,000 339,000
Net loss (gain) on sale of property & equipment 13,000 (83,000)
Defined benefit pension plan expense 2,000 7,000
Deferred income tax credit (6,000) (5,000)
Decrease in accounts receivable 1,664,000 4,819,000
Increase in inventories (245,000) (543,000)
Increase in deferred farming costs (733,000) (1,267,000)
Increase (decrease) in other current assets 112,000 (59,000)
Increase (decrease) in accounts payable 207,000 (583,000)
Decrease in accrued payroll and benefits (529,000) (331,000)
Increase (decrease) in other current liabilities 19,000 (54,000)
Total adjustments 901,000 2,240,000
Net cash provided by operating activities 648,000 1,612,000
Supplemental disclosure of non-cash activity:    
Depreciation expense included in deferred farming costs 249,000 197,000
Offering costs netted against offering proceeds 190,000  
Distributions declared but not paid   $ 150,000