XML 60 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash Flows From Operating Activities:      
Net income loss $ (1,641,170) $ (558,536) $ 636,920
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization expense 688,738 472,990 405,746
Accretion of asset retirement obligation 8,040 8,040 0
Common stock issued for services 0 221,228 0
Common stock issued to directors for services 150,000 0 230,004
Deferred income tax expense (benefit) 229,451 167,107 96,442
Change in:      
Accounts receivable, net (119,862) 982,405 (693,146)
Inventories 157,419 (125,376) (923,522)
Other current assets 137,664 (114,321) (37,953)
Other assets (13,984) (443,730) 40,000
Accounts payable 474,438 186,283 584,698
Accrued payroll, taxes and interest 35,396 (52,387) 51,425
Other accrued liabilities 20,525 (89,072) (100,836)
Deferred revenue 110,138 (43,760) 43,760
Payables to related parties (1,973) (84,452) 83,914
Net cash provided by operating activities 234,820 526,419 417,452
Cash Flows From Investing Activities:      
Purchase of certificates of deposit 0 (244,090) (466)
Purchase of properties, plants and equipment (2,733,762) (3,269,811) (2,238,975)
Net cash used by investing activities (2,733,762) (3,513,901) (2,239,441)
Cash Flows From Financing Activities:      
Net proceeds from (payments to) factor 154,164 (123,053) 146,589
Proceeds from sale of common stock and warrants, net of offering costs 1,147,195 4,624,763 1,160,217
Issuance of common stock pursuant to exercise of warrants 0 60,000 0
Proceeds from notes payable to bank 138,520 0 0
Principal payments of long-term debt (273,405) (464,936) (124,722)
Proceeds from long term debt 352,000 0 0
Payments received on stock subscription agreements 0 0 82,563
Change in checks issued and payable 0 (113,908) 113,908
Net cash provided by financing activities 1,518,474 3,982,866 1,378,555
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (980,468) 995,384 (443,434)
Cash and cash equivalents at beginning of year 1,000,811 5,427 448,861
Cash and cash equivalents at end of year 20,343 1,000,811 5,427
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Interest paid in cash (net of amount capitailzed) 2,529 2,691 0
Properties, plants & equipment acquired with long-term debt 762,541 665,150 234,775
Properties, plants and equipment acquired with accounts payable 79,105 0 0
Common stock and warrants issued for note payable $ 150,000 $ 0 $ 0