XML 37 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 94,491 $ (197,642)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Change in inventory obsolescence reserve 26,535 217,206
Change in value of equity credits    (160)
Depreciation and amortization expense 171,502 165,213
Amortization of deferred lease incentives (9,623) (9,623)
Stock based compensation 103,090   
Change in operating assets and liabilities:    
Accounts receivable 713,604 (640,927)
Accounts receivable related party 8,112 68,304
Inventory 202,031 (275,765)
Prepaid expenses and other assets (230,562) (137,359)
Accounts payable (179,688) 166,324
Accrued expenses 101,003 77,135
Income taxes payable 50,000   
Deferred revenue (25,596)   
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 1,024,899 (567,294)
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash acquired in acquisition 48,121   
Purchases of property and equipment (144,039) (37,796)
NET CASH USED IN INVESTING ACTIVITIES (95,918) (37,796)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of bank line of credit, net (774,919)   
Repayment of bank loans    (740,084)
NET CASH USED IN FINANCING ACTIVITIES (774,919) (740,084)
NET INCREASE (DECREASE) IN CASH 154,062 (1,345,174)
CASH, beginning of year 100,367 1,540,581
CASH, end of period 254,429 195,407
Cash paid during the period for interest    
Interest 19,230 72,051
Income taxes      
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Liabilities assumed in share exchange 1,689,070   
Less: assets acquired in share exchange 496,693   
Net liabilities assumed 1,192,377   
Fair value of shares exchanged 1,235,282   
Increase in intangible assets $ 2,427,659