XML 22 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
Statement of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash Flows From Operating Activities    
Net Loss $ (576,881) $ (3,660,949)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Depreciation 357,995 394,309
Amortization of Other Intangible Assets 284,167 278,826
Provision for Losses on Accounts Receivable 296,572 583,424
Share Based Compensation Expense 1,229,311 1,091,195
Interest Expense – Enhanced Notes PIK 329,971 291,847
Interest Expense – Related Party 775,424 805,608
Interest Expense – Amortization of Discount 181,203 182,444
Deferred Income Tax Provision 364,600 0
Gain on Disposal of Assets (3,709) (15,679)
Loss on Foreign Currency Exchange 59,835 68,767
Changes in Assets and Liabilities:    
Trade Receivables (1,487,356) (1,839,626)
Inventories (2,905,509) 153,910
Costs and Estimates Earnings in Excess of Billings on Uncompleted Contracts (23,709) (18,411)
Prepaid Expenses and Other Current Assets (64,850) 101,035
Other Intangible Assets (297,748) (297,121)
Deposits and Other Non-Current Assets 186,653 287,575
Accounts Payable (596,547) 293,935
Accrued Expenses and Other Current Liabilities 1,014,152 301,765
Billings in Excess of Costs and Estimated Earnings on Uncompleted Contracts 51,353 0
Net Cash Used in Operating Activities (825,073) (997,146)
Cash Flows From Investing Activities    
Additions to Property, Plant and Equipment (76,189) (207,191)
Proceeds from Disposal of Property, Plant and Equipment 0 63,095
Net Cash Used in Investing Activities (76,189) (144,096)
Cash Flows From Financing Activities    
Proceeds from Revolver Loan 83,858,278 75,459,796
Principal Repayments to Revolver Loan (82,557,016) (74,563,955)
Proceeds from Note Payable – Related Party 250,000 250,000
Principal Repayments to Note Payable - Related Party (500,000) 0
Principal Repayments to Note Payable - Enhanced Note (150,000) (4,599)
Net Cash Provided by Financing Activities 901,262 1,141,242
Net Effect of Exchange Rate Changes on Cash 0 0
Net Change In Cash 0 0
Cash at Beginning of Year 0 0
Cash at End of Year 0 0
Supplemental Disclosure of Cash Flow Information:    
Cash Payments for Income Taxes 0 0
Cash Payments for Interest 849,911 782,424
Supplemental Schedule of Non Cash Investing and Financing Activities:    
Issuances of Restricted Stock for Personal Guaranty by Related Party Classified as Interest Expense 734,856 734,858
Accrued Interest – Related Party $ 3,888 $ 3,173