XML 46 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income $ 275,182 $ 841,326
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 395,135 290,508
Deferred tax expense 0 65,413
Share-based compensation 125,758 128,625
Excess tax benefit derived from exercise of stock options (188,008) (478,698)
Noncash interest expense 6,019 6,019
Noncash investment losses 141,920 10,571
Net changes in assets and liabilities affecting operating activities, net of effect of business combination:    
Accounts receivable (886,669) 49,570
Inventory (289,263) 226,324
Other current assets and other assets (319,506) (8,298)
Accounts payable and other current liabilities 1,696,229 492,983
Other long-term liabilities 25,775 46,308
Net cash provided by operating activities 982,572 1,670,651
Cash flows from investing activities:    
Additions to property and equipment (29,760) (60,911)
Purchases of marketable securities (750,000) (2,970,000)
Proceeds from sale of marketable securities 1,096,033 686,755
Cash paid for acquisitions (2,000,000) 0
Additions to intangible assets (388,768) (961,013)
Net cash used in investment activities (2,072,495) (3,305,169)
Cash flows from financing activities:    
Exercise of stock options 0 (41,292)
Excess tax benefit derived from exercise of stock options 188,008 478,698
Repurchase of common shares (919,583) (1,942,725)
Net cash used in financing activities (731,575) (1,505,319)
Net decrease in cash and cash equivalents (1,821,498) (3,139,837)
Cash and cash equivalents at beginning of period 40,869,457 54,349,381
Cash and cash equivalents at end of period 39,047,959 51,209,544
Non-cash investing and financing activities:    
Net change in unpaid additions to intangibles, property and equipment $ (110,197) $ 160,272