XML 47 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net income $ 984,718 $ 192,472
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 800,231 610,052
Deferred tax expense 0 65,413
Share-based compensation 325,344 305,199
Excess tax benefit derived from exercise of stock options (711,348) (15,288)
Noncash interest expense 12,038 12,038
Noncash investment losses 181,950 62,323
Net changes in assets and liabilities affecting operating activities, net of effect of business combination:    
Accounts receivable (1,484,052) 2,046,259
Inventory 136,039 124,061
Accounts payable and other current liabilities 2,165,828 (1,707,560)
Other long-term liabilities 109,244 37,479
Other current assets and other assets (701,604) 59,877
Net cash provided by operating activities 1,818,388 1,792,325
Cash flows from investing activities:    
Additions to property and equipment (48,239) (69,119)
Purchases of marketable securities (3,254,903) (4,371,508)
Proceeds from sale of marketable securities 2,267,082 1,481,682
Cash paid for acquisitions (2,000,000) 0
Additions to intangible assets (732,072) (1,829,693)
Net cash used in investment activities (3,768,132) (4,788,638)
Cash flows from financing activities:    
Net borrowings on line of credit 0 1,500,000
Exercise of stock options 0 (41,292)
Excess tax benefit derived from exercise of stock options 711,348 15,288
Sale of subsidiary shares to noncontrolling interest 1,000,005 0
Repurchase of common shares (1,580,225) (3,162,302)
Net cash provided by (used in) financing activities 131,128 (1,688,306)
Net decrease in cash and cash equivalents (1,818,616) (4,684,619)
Cash and cash equivalents at beginning of period 40,869,457 54,349,381
Cash and cash equivalents at end of period 39,050,841 49,664,762
Non-cash investing and financing activities:    
Net change in unpaid additions to intangibles, property and equipment $ 450,781 $ 249,633