XML 16 R5.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (2,503,439) $ (2,574,165)
Discontinued operations 2,334,811 3,268,196
Net income (loss) from continuing operations (4,838,250) (5,842,361)
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 3,524,684 3,278,958
Deferred tax expense 0 43,605
Share-based compensation 805,338 1,107,817
Decrease in non-cash contingent consideration (806,390) (681,577)
Noncash interest expense 36,197 36,292
Noncash investment gains 0 (34,303)
Net changes in assets and liabilities affecting operating activities:    
Accounts receivable (1,817,490) 1,026,633
Inventories 1,696,668 1,332,140
Other current assets and other assets 1,962,024 195,529
Accounts payable and other current liabilities 3,417,856 (539,525)
Other long-term liabilities (1,585,584) (207,648)
Net cash provided by (used in) operating activities from continuing operations 2,395,054 (284,440)
Discontinued operations 2,166,086 2,483,796
Net cash provided by operating activities 4,561,140 2,199,356
Cash flows from investing activities:    
Additions to property and equipment (95,189) (166,407)
Purchases of marketable securities 0 (9,627,191)
Proceeds from sale of marketable securities 0 15,686,334
Proceeds from surrender of life insurance policies 460,888 0
Cash paid for acquisition 0 (5,000,000)
Additions to intangible assets (1,807,467) (498,003)
Net cash provided by (used in) investing activities (1,441,768) 394,733
Cash flows from financing activities:    
Borrowings on line of credit 44,000,000 56,000,000
Repayments on line of credit (45,500,000) (56,000,000)
Payments of deferred loan costs 0 (52,500)
Cash payment of contingent consideration (834,014) (908,347)
Repurchase of subsidiary shares from noncontrolling interest (800,000) 0
Repurchase of common shares (1,551,463) (2,593,778)
Net cash used in financing activities (4,685,477) (3,554,625)
Net decrease in cash and cash equivalents (1,566,105) (960,536)
Cash and cash equivalents at beginning of period 28,212,635 27,938,960
Cash and cash equivalents at end of period $ 26,646,530 $ 26,978,424