XML 43 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash Flows From Operating Activities:    
Net income (loss) $ (838,531) $ (1,595,455)
Adjustments to reconcile net loss to net cash provided (used) by operating activities:    
Depreciation and amortization 932,786 780,782
Gain on sale of equipment (5,200) (35,450)
Bad debt expense 18,668 0
Hillgrove advance earned credit (142,170) 0
Accretion of asset retirement obligation 5,137 (2,390)
Common stock issued for services 57,950 39,000
Common stock payable for directors fees 137,500 125,000
Change in:    
Accounts receivable 13,333 121,347
Inventories 339,301 (398,769)
Other current assets (194,357) (12,596)
Other assets 49,382 (104,524)
Accounts payable (191,701) 86,906
Accrued payroll, taxes and interest 86,201 10,308
Other accrued liabilities 66,115 (11,934)
Deferred revenue 0 (31,408)
Payables to related parties 24,039 (7,192)
Net cash provided (used) by operating activities 358,453 (1,036,375)
Cash Flows From Investing Activities:    
Cash received for sale of equipment 5,200 0
Purchase of properties, plants and equipment (1,709,237) (1,826,553)
Net cash used by investing activities (1,704,037) (1,826,553)
Cash Flows From Financing Activities:    
Net payments to factor 468 (164,387)
Proceeds from sale of common stock and exercise of warrants, net of offering costs 0 3,070,134
Proceeds from Hillgrove advances 1,198,445 198,571
Proceeds from notes payable to bank 130,672 0
Principal paid notes to bank 0 (138,520)
Principal payments of long-term debt (94,141) (129,530)
Proceeds from long term debt 0 130,000
Proceeds from related party loans 0 65,300
Payments on related party loans 0 (65,300)
Received on notes receivable for stock 120,000 0
Net cash provided by financing activities 1,355,444 2,966,268
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 9,860 103,340
Cash and cash equivalents at beginning of year 123,683 20,343
Cash and cash equivalents at end of year 133,543 123,683
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid in cash (net of amount capitailzed) 0 1,118
Noncash investing and financing activities:    
Properties, plants & equipment acquired with long-term debt 1,061,479 29,185
Properties, plants & equipment acquired with accrued liability 36,619 0
Imputed interest included in property, plant and equipment 57,088 45,752
Properties, plants & equipment acquired with other long term assets 586,893 0
Common stock payable issued to directors $ 125,000 $ 150,000
Common stock issued for debt payment 0 330,000
Common stock issued for note receivable $ 0 $ 150,000
Equipment sold for other asset advances 0 40,000
Forgiveness of note receivable-stock $ 30,000 $ 0