Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

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Condensed Consolidated Statements Of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,907,692) $ 2,991,802
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 2,476,244 1,756,792
Share based compensation 701,204 518,682
Deferred taxes (311,424) 538,335
Change in fair value of acquisition-related contingent consideration (28,574)  
(Gain) loss on sale of assets (9,408) 105,799
Excess tax benefit from share-based payments (87,842) (67,194)
Changes in assets and liabilities:    
Trade receivables (9,155,151) 6,279,960
Inventories 5,177,573 (1,979,772)
Prepaid income taxes (1,465,114) 443,330
Other assets (1,363,057) (69,651)
Accounts payable 1,865,964 1,061,120
Accrued compensation and benefits 130,096 (201,385)
Other accrued liabilities (27,998) (106,111)
Income taxes payable 146,493 (14,585)
Other (58,295) (86,662)
Net cash (used in) provided by operating activities (5,916,981) 11,170,460
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (1,782,717) (3,987,901)
Purchases of investments   (11,059,893)
Acquisition of business, net of cash acquired (917,363)  
Proceeds from the sale of fixed assets 56,471 48,299
Proceeds from the sale of investments 3,449,207 4,980,000
Net cash provided by (used in) investing activities 805,598 (10,019,495)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings against line of credit 3,900,000  
Cash dividends paid (4,220,716) (4,186,764)
Mortgage principal payments (389,799) (364,135)
Proceeds from issuance of common stock, net of shares withheld 92,607 221,292
Excess tax benefit from stock-based payments 87,842 67,194
Payment of contingent consideration related to acquisition   (565,647)
Purchase of common stock   (16,675)
Net cash used in financing activities (530,066) (4,844,735)
EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH (67,767) (34,417)
NET DECREASE IN CASH AND CASH EQUIVALENTS (5,709,216) (3,728,187)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 13,736,857 20,059,120
CASH AND CASH EQUIVALENTS AT END OF PERIOD 8,027,641 16,330,933
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Income taxes (refunded) paid (1,447,021) 752,787
Interest paid 34,503 58,513
Dividends declared not paid 1,464,332 1,433,115
Capital expenditures in accounts payable 91,808 $ 83,102
Acquisition costs in accrued consideration $ 434,286