XML 17 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities    
Net income $ 2,020,455 $ 872,544
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 569,897 499,554
Gain on disposal of fixed assets (20,296) (15,693)
Deferred taxes 265,000 (243,000)
Changes in operating assets and liabilities:    
Accounts receivable - billed   (6,105,717)
Accounts receivable - unbilled (97,435) 139,017
Allowance for doubtful accounts   (59,977)
Inventories (13,296) (441,789)
Prepaid expenses and other assets (110,709) (123,949)
Prepaid income taxes 355,597 655,727
Accounts payable - trade 266,769 1,656,645
Accrued expenses and other 437,655 619,400
Accrued compensation 199,149 255,458
Customer deposits 195,799 736,128
Net cash provided by (used in) operating activities 885,712 (1,555,652)
Cash flows from investing activities:    
Purchases of investment securities (31,990) (27,519)
Purchases of property and equipment (3,289,669) (864,814)
Proceeds from sale of fixed assets 20,296 23,731
Net cash used in investing activities (3,301,363) (868,602)
Cash flows from financing activities:    
Line of credit borrowings 1,450,000 0
Line of credit payments (1,450,000) 0
Proceeds from long-term borrowings 1,887,322 97,005
Repayments of long-term borrowings (310,357) (275,114)
Proceeds from options exercised 48,400 21,101
Net cash provided by (used in) financing activities 1,625,365 (157,008)
Net decrease in cash and cash equivalents (790,286) (2,581,262)
Cash and cash equivalents    
Beginning of period 1,735,621 3,572,405
End of period $ 945,335 $ 991,143