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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Net cash provided by (used in) operating activities $ 5,097,981 $ 7,876,913
Cash flows from investing activities    
Additions to property, plant and equipment and construction in progress (1,629,001) (2,380,027)
Distribution of earnings from OC-BVI 507,525 202,631
Collections of loans receivable 820,430 853,599
Collections of loan receivable from OC-BVI 0 1,100,000
Payment for NSC option agreement (300,000) 0
Release of restriction on cash balances for non-revolving credit facility 7,500,000 0
Net cash provided by (used in) investing activities 6,898,954 (223,797)
Cash flows from financing activities    
Dividends paid (2,187,897) (2,184,370)
Issuance (repurchase) of redeemable preferred stock, net (1,729) (3,859)
Principal repayments of long term debt (9,300,578) (754,665)
Principal repayment of non-revolving credit facility 7,500,000 0
Net cash provided by (used in) financing activities (18,990,204) (2,942,894)
Net increase (decrease) in cash and cash equivalents (6,993,269) 4,710,222
Cash and cash equivalents at beginning of period 37,624,179 46,130,237
Cash and cash equivalents at end of period 30,630,910 50,840,459
Interest paid in cash 442,594 616,106
Non-cash investing and financing activities    
Issuance of 10,033 and 7,455, respectively, of redeemable preferred stock for services rendered 77,856 65,902
Issuance of common stock to executive management for bonus payable 92,664 28,025
Dividends declared but not paid $ 1,095,883 $ 1,093,704