XML 15 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income (loss) $ (1,293,569) $ (268,557)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 661,485 582,093
Deferred tax expense 758,112 204,067
Share-based compensation 254,585 174,778
Excess tax (benefit) expense derived from exercise of stock options (92,741) 427,993
Noncash interest expense 26,778 13,933
Noncash investment gains (4,807) (46,577)
Net changes in assets and liabilities affecting operating activities:    
Accounts receivable 2,395,348 1,254,320
Inventories (275,175) 196,454
Other current assets and other assets 132,819 (534,621)
Accounts payable and other current liabilities (1,216,345) (1,483,998)
Other long-term liabilities 92,881 78,602
Net cash provided by operating activities 1,439,371 598,487
Cash flows from investing activities:    
Additions to property and equipment (123,945) (73,057)
Purchases of marketable securities (792,716) (1,166,218)
Proceeds from sale of marketable securities 941,087 910,692
Additions to intangible assets (453,961) (624,898)
Net cash used in investing activities (429,535) (953,481)
Cash flows from financing activities:    
Excess tax expense derived from exercise of stock options 0 (427,993)
Repurchase of common shares (545,924) (979,293)
Net cash used in financing activities (545,924) (1,407,286)
Net increase (decrease) in cash and cash equivalents 463,912 (1,762,280)
Cash and cash equivalents at beginning of period 34,510,330 38,203,059
Cash and cash equivalents at end of period $ 34,974,242 $ 36,440,779