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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 3 Months Ended
--- | ---
Mar. 31, 2014 | Mar. 31, 2013
Operating activities |  |
Net income (loss) | $ (155,578) | $ 65,161
Stock compensation expense | 20,693 | 23,872
Depreciation | 200,599 | 329,199
Changes in non-cash working capital items: |  |
(Increase) Decrease in accounts receivable | (871,669) | (633,475)
(Increase) Decrease in inventory | 86,287 | (200,939)
(Increase) Decrease in prepaid expenses | (2,933) | (11,478)
Increase (Decrease) in accounts payable | 218,637 | 542,941
Increase (Decrease) in taxes payable |  | (177,500)
Increase (Decrease) in deferred revenue |  | 14,752
Cash provided by (used in) operating activities | (503,964) | (47,467)
Investing activities |  |
Sale of equipment |  | 2,407
Acquisition of property and equipment | (6,161) | (7,148)
Cash provided by (used in) investing activities | (6,161) | (4,741)
Financing activities |  |
Short term line of credit | 200,000 | 570,000
Loan Repayment | (31,804) | (51,577)
Cash provided by financing activities | 168,196 | 518,423
Effect of exchange rate changes on cash | 5,590 | (5,587)
Inflow (outflow) of cash | (336,339) | 460,628
Cash and cash equivalents, beginning | 568,087 | 361,867
Cash and cash equivalents, ending | 231,748 | 822,495
Supplemental disclosure of cash flow information: |  |
Income taxes paid |  | 190,000
Interest paid | $ 26,874 | $ 27,938

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- Definition Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3521-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 230 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450594&loc=d3e33268-110906 + Details
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