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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (1,407,013) $ 595,589
Adjustments required to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation 493,117 481,491
Amortization of intangible assets 370,203 514,911
Stock based compensation 135,969 108,495
Deferred tax provision 107,880 227,313
Changes in operating assets and liabilities:    
Trade receivables 4,458,627 4,907,024
Contract assets (4,452,072) (2,513,952)
Other accounts receivable and prepaid expenses (256,347) 546,999
Inventories 460,927 (324,646)
Severance pay, net 145,123 32,042
Trade payables (82,634) (292,733)
Other accounts payable and accrued expenses (1,896,369) (1,489,424)
Contract liabilities (303,994) (278,267)
Net cash (used in) provided by operating activities (2,226,583) 2,514,842
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (510,006) (330,820)
Additions to capitalized software (745,577) 0
Net cash used in investing activities (1,255,583) (330,820)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from long term debt 220,264 0
Repayment of long term debt (543,824) (563,591)
Other financing activities (112,921) (54,155)
Change in short term bank credit 4,203,348 1,131,418
Net cash provided by financing activities 3,766,867 513,672
INCREASE IN CASH, RESTRICTED CASH, AND CASH EQUIVALENTS 284,701 2,697,694
CASH DIFFERENCES DUE TO EXCHANGE RATE DIFFERENCES 24,120 33,831
CASH, RESTRICTED CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD 4,444,958 5,488,754
CASH, RESTRICTED CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 4,753,779 8,220,279
SUPPLEMENTARY CASH FLOW INFORMATION:    
Interest paid during the period 201,078 220,607
Taxes paid on income during the period $ 2,468 $ 300