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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities      
Net income $ 5,732,573 $ 2,777,313 $ 7,925,494
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 7,472,341 7,421,268 5,836,933
Amortization of debt issuance costs 0 41,672 125,016
Deferred income tax benefit (888,977) (536,057) 0
Provision for doubtful accounts 0 42,553 0
Unrealized (gain) loss on put/call option (960,000) 297,000 0
Compensation expense relating to stock and stock option grants 803,577 521,019 407,668
Net loss (gain) on disposal of fixed assets 117,969 (314,381) 32,566
Foreign currency transaction adjustment 6,685 (172,130) 420,641
Profit sharing and equity in earnings of OC-BVI (174,377) (463,359) (399,668)
Impairment loss on long-lived assets 1,656,362 2,000,000 0
Impairment of goodwill 1,400,000 1,750,000 0
Impairment of investment in OC-BVI 0 925,000 1,060,000
Change in:      
Accounts receivable and costs and estimated earnings in excess of billings 1,370,128 (5,910,009) 3,402,728
Inventory (217,028) (622,724) (732,588)
Prepaid expenses and other assets (3,083,708) 204,642 299,130
Accounts payable and other liabilities and billings in excess of costs and estimated earnings - construction project 408,749 (138,455) (1,058,134)
Net cash provided by operating activities 13,644,294 7,823,352 17,319,786
Cash flows from investing activities      
Purchase of certificate of deposit 0 0 (5,637,538)
Maturity of certificate of deposit 0 5,637,538 5,000,000
Additions to property, plant and equipment and construction in progress (4,576,717) (3,462,150) (3,113,565)
Proceeds from sale of equipment 22,427 547,332 10,160
Distribution of earnings from OC-BVI 1,477,125 0 0
Acquisition of Aerex, net of cash acquired 0 (7,742,853) 0
Collections on loans receivable 1,633,588 1,841,851 1,726,310
Release of restricted cash balance 0 398,744 (42,716)
Net cash used in investing activities (1,443,577) (2,779,538) (2,057,349)
Cash flows from financing activities      
Dividends paid to common shareholders (4,464,712) (4,433,539) (4,417,534)
Dividends paid to non-controlling interests 0 (182,663) (201,473)
Dividends paid to preferred shareholders (11,213) (11,831) (11,881)
Issuance (repurchase) of redeemable preferred stock (9,719) (14,054) (6,014)
Proceeds received from exercise of stock options 17,777 568,849 456,763
Issuance (repayment) of note payable to related party (490,000) 490,000 0
Issuance of note payable to related party 686,000 0 0
Repayments of demand loan payable 0 (7,000,000) (2,000,000)
Net cash used in financing activities (4,271,867) (10,583,238) (6,180,139)
Effect of exchange rate changes on cash 0 806 (3,253)
Net increase (decrease) in cash and cash equivalents 7,928,850 (5,538,618) 9,079,045
Cash and cash equivalents at beginning of period 39,254,116 44,792,734 35,713,689
Cash and cash equivalents at end of period $ 47,182,966 $ 39,254,116 $ 44,792,734