XML 52 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
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) $ 117,395 $ 89,512 $ (409,510)
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:      
Depreciation 414,307 399,640 413,132
Amortization 2,894 2,876 5,240
Deferred income taxes 87,166 94,370 (302,500)
Stock-based compensation 31,359 35,985 38,172
Loss on disposal of fixed assets 35,179 12,265 10,822
Changes in:      
Receivables (20,056) (227,558) 113,717
Inventory 442,494 17,463 (65,449)
Prepaid expenses and other assets 45,917 (123,628) 159,484
Accounts payable (95,503) 100,047 59,479
Accrued expenses 37,508 (48,332) (68,152)
Deferred revenue 0 (8,250) 8,250
Net cash provided by (used for) operating activities 1,098,660 344,390 (37,315)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property, plant and equipment (597,697) (275,395) (243,735)
Maturities of short-term investments 2,489,000 4,178,000 3,227,000
Purchases of short-term investments (3,234,000) (2,240,000) (4,178,000)
Net cash (used for) provided by investing activities (1,342,697) 1,662,605 (1,194,735)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from debt issuance 0 0 600,000
Debt principal repayments (181,445) (172,853) (145,232)
Proceeds from exercise of stock options 21,750 50,800 145,295
Tax benefits related to stock options 398 7,261 14,518
Net cash (used for) provided by financing activities (159,297) (114,792) 614,581
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (403,334) 1,892,203 (617,469)
BEGINNING CASH AND CASH EQUIVALENTS 2,673,719 781,516 1,398,985
ENDING CASH AND CASH EQUIVALENTS 2,270,385 2,673,719 781,516
INCOME TAXES PAID 0 708 510
INTEREST EXPENSE PAID 67,015 75,681 78,737
NON-CASH ACTIVITIES:      
Capital expenditures included in accounts payable and accrued expenses 23,495 4,550 25,762
Net change in fair value of interest rate swap $ (30,284) $ 9,308 $ 50,443