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Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 1,034,440 $ (2,767,099)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 2,456,590 3,272,085
Share-based compensation 188,034 132,148
Decrease in non-cash contingent consideration (476,606) (68,334)
Decrease (increase) in cash surrender value of life insurance policies over premiums paid (95,997) 598,355
Increase in noncash interest expense 7,809 4,791
Gain on receivable of life insurance proceeds 0 (611,330)
Net changes in assets and liabilities affecting operating activities:    
Accounts receivable 944,925 (5,527,690)
Inventories (232,110) 2,949,443
Other current assets and other assets (804,400) 1,227,030
Accounts payable and other current liabilities 534,541 4,658,782
Other long-term liabilities 259,926 (1,688,143)
Net cash provided by operating activities 3,817,152 2,180,038
Cash flows from investing activities:    
Additions to property and equipment (179,453) (164,241)
Cash paid for acquisitions 0 (13,500,000)
Additions to intangible assets (91,808) (50,248)
Net cash used in investing activities (271,261) (13,714,489)
Cash flows from financing activities:    
Borrowings on line of credit 16,000,000 39,000,000
Repayments on line of credit (19,051,875) (35,000,000)
Cash payment of contingent consideration (1,652,990) (501,505)
Repurchase of common shares (349,910) (788,295)
Net cash provided by (used in) financing activities (5,054,775) 2,710,200
Net decrease in cash and cash equivalents (1,508,884) (8,824,251)
Cash and cash equivalents at beginning of period 19,757,970 27,040,816
Cash and cash equivalents at end of period $ 18,249,086 $ 18,216,565