Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

v3.8.0.1
Condensed Consolidated Statements Of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (10,128,224) $ (6,274,936)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,489,661 2,754,189
Share based compensation 327,261 505,306
Deferred taxes (52,998) (11,083)
Impairment loss 1,617,389  
Change in fair value of acquisition-related contingent consideration   (135,316)
Loss (gain) on sale of assets 537,470 (748,234)
Excess tax benefit from share-based payments   63,304
Changes in assets and liabilities:    
Trade accounts receivable 765,055 1,443,908
Inventories 7,232,732 352,653
Prepaid income taxes 789,209 (141,566)
Other assets, net 358,160 (148,010)
Accounts payable (1,648,259) (1,188,066)
Accrued compensation and benefits 701,546 224,713
Other accrued liabilities (157,422) 352,789
Income taxes payable (103,215) (49,657)
Other   58,001
Net cash provided by (used in) operating activities 2,728,365 (2,942,005)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (389,616) (1,889,283)
Proceeds from the sale of property, plant and equipment 220,366 972,595
Proceeds from the sale of investments 5,076,978 2,014,023
Net cash provided by investing activities 4,907,728 1,097,335
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on line of credit   4,894,046
Payments against line of credit   (4,894,046)
Cash dividends paid (1,096,726) (4,269,451)
Mortgage principal payments   (103,603)
Proceeds from issuance of common stock, net of shares withheld 74,222 92,191
Excess tax expense benefit from share-based payments   (63,304)
Payment of deferred consideration related to acquisition   (300,000)
Net cash used in financing activities (1,022,504) (4,644,167)
EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH 9,622 (90,510)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 6,623,211 (6,579,347)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 10,443,274 9,812,737
CASH AND CASH EQUIVALENTS AT END OF PERIOD 17,066,485 3,233,390
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Income taxes (refunded) paid (646,660) 443,106
Interest paid 29,297 43,630
Dividends declared not paid 398,210 413,966
Capital expenditures in accounts payable $ 75,525 57,181
Acquisition costs in accrued consideration   $ 6,918