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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Net cash provided by (used in) operating activities $ 8,566,551 $ 8,449,864
Cash flows from investing activities    
Purchase of certificate of deposit (5,000,000) 0
Additions to property, plant and equipment and construction in progress (2,958,494) (3,057,839)
Proceeds from sale of equipment 13,740 0
Distribution of earnings from OC-BVI 1,249,875 507,525
Collections on loans receivable 1,351,965 1,283,518
Payment for investment in land (1,975,566) 0
Payment for NSC option agreement 0 (300,000)
Release of previously restricted cash balances 0 7,500,000
Net cash provided by (used in) investing activities (7,318,480) 5,933,204
Cash flows from financing activities    
Dividends paid (3,295,765) (3,283,164)
Issuance (repurchase) of redeemable preferred stock, net 9,313 1,154
Proceeds received from exercise of stock options 302,807 0
Principal repayments of long term debt (1,283,427) (9,709,821)
Capital contribution from non-controlling interest 142,105 135,000
Repayment of non-revolving credit facility 0 (7,500,000)
Net cash provided by (used in) financing activities (4,124,967) (20,356,831)
Effect of exchange rate changes on cash (192,574) (6,258)
Net increase (decrease) in cash and cash equivalents (3,069,470) (5,980,021)
Cash and cash equivalents at beginning of period 33,892,655 37,624,179
Cash and cash equivalents at end of period 30,823,185 31,644,158
Interest paid in cash 294,603 559,361
Non-cash investing and financing activities    
Issuance of 10,180 and 10,033, respectively, of redeemable preferred stock for services rendered 110,249 77,856
Issuance of 11,131 and 10,800, respectively, shares of common stock for services rendered 82,369 92,664
Conversion (on a one-to-one basis) of 3,660 and 2,629, respectively, shares of redeemable preferred stock to common stock 2,196 1,577
Dividends declared but not paid 1,101,345 1,095,929
Obligation incurred for investment in land 10,050,000 0
Transfers from inventory to property, plant and equipment $ 181,875 $ 139,507