Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows (USD $)
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 2,991,802 $ (155,018)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 1,756,792 1,627,804
Share based compensation 518,682 7,763
Deferred taxes 538,335 (693,619)
Impairment loss   5,849,853
Change in fair value of acquisition-related contingent consideration   (352,462)
Loss on sale of assets 105,799 78,065
Excess tax benefit from share-based payments (67,194) (13,562)
Changes in assets and liabilities:    
Trade receivables 6,279,960 (22,042,463)
Inventories (1,979,772) 5,187,881
Prepaid income taxes 443,330 2,126,683
Other assets (69,651) 106,675
Accounts payable 1,061,120 (4,243,547)
Accrued compensation and benefits (201,385) 560,605
Other accrued liabilities (106,111) 161,650
Income taxes payable (14,585) (38,272)
Other (86,662)  
Net cash provided by (used in) operating activities 11,170,460 (11,831,964)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (3,987,901) (1,977,058)
Purchases of investments (11,059,893) (2,824,848)
Proceeds from the sale of fixed assets 48,299 56,394
Proceeds from the sale of investments 4,980,000 9,794,000
Net cash (used in) provided by investing activities (10,019,495) 5,048,488
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (4,186,764) (2,730,265)
Mortgage principal payments (364,135) (340,161)
Proceeds from issuance of common stock 221,292 247,178
Excess tax benefit from share-based payments 67,194 13,562
Payment of contingent consideration related to acquisition (565,647) (161,060)
Purchase of common stock (16,675)  
Net cash used in financing activities (4,844,735) (2,970,746)
EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH (34,417) (11,612)
NET DECREASE IN CASH AND CASH EQUIVALENTS (3,728,187) (9,765,834)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 20,059,120 17,869,712
CASH AND CASH EQUIVALENTS AT END OF PERIOD 16,330,933 8,103,878
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Income taxes paid (refunded) 752,787 (85,297)
Interest paid 58,513 79,293
Dividends declared not paid 1,433,115 1,367,724
Capital expenditures in accounts payable $ 83,102