XML 46 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Unaudited Condensed Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 478,163 $ 924,432
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 569,081 378,475
Amortization 21,676 2,074
Deferred income taxes 206,911 680,087
Stock-based compensation 50,312 17,825
Loss (Gain) on disposal of fixed assets 2,109 (3,984)
Provision for uncollectible accounts 2,225 1,898
Changes in:    
Accounts receivable, gross 38,723 214,180
Inventory (783,190) 81,311
Prepaid expenses and other current assets (471,027) (127,160)
Accounts payable and accrued expenses (100,697) (92,332)
Deferred revenue 33,856 (6,690)
Net cash provided by operating activities 48,142 2,070,116
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (1,794,755) (1,772,091)
Acquisition of certain business assets (368,219) 0
Maturities of investments 3,968,000 2,489,000
Purchases of investments (4,216,000) (3,711,000)
Proceeds from sale of fixed assets 0 66,215
Net cash used for investing activities (2,410,974) (2,927,876)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from public offering, net 5,313,223 0
Proceeds from debt issuance 0 2,500,000
Debt principal repayments (100,545) (136,339)
Debt issuance costs (46,734) (32,759)
Proceeds from exercise of stock options 31,975 120,210
Tax benefits related to stock options 0 25,707
Net cash provided by financing activities 5,197,919 2,476,819
NET INCREASE IN CASH AND CASH EQUIVALENTS 2,835,087 1,619,059
BEGINNING CASH AND CASH EQUIVALENTS 1,573,328 850,028
ENDING CASH AND CASH EQUIVALENTS 4,408,415 2,469,087
CASH PAID FOR:    
Income taxes 125,125 3,600
Interest expense 115,682 38,324
NON-CASH ACTIVITIES:    
Change in capital expenditures included in accounts payable and accrued expenses 163,635 (213,418)
Net change in fair value of interest rate swaps 79,767 48,059
Fixed asset disposals, gross $ 58,714 $ 279,111