XML 19 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income (loss) $ 5,015,993 $ (25,209,275) $ 7,736,894
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation, Depletion and Amortization 854,063 763,736 704,435
Deferred rent 46,017 17,098 54,621
Stock-based compensation expense 524,274 467,765 379,809
Common stock issued as employee compensation $ 59,423 57,993 $ 41,830
Loss on disposal of fixed asset 1,042
Deferred portion of provision for income taxes $ 2,659,000 (3,790,000) $ (107,000)
Tax benefit for stock options (33,000) $ (86,000) $ (27,000)
Bad debt expense 50,000
Changes in operating assets and liabilities:      
(Increase) decrease in accounts receivable $ (1,249,023) $ (2,074,560) $ 2,382,092
Decrease in other assets 1,512,904
(Increase) decrease in costs and estimated earnings in excess of billings on uncompleted contracts $ (23,568,248) $ 33,542,997 (3,612,292)
Decrease in prepaid expenses and other current assets (237,199) (219,007) $ (183,205)
Increase in refundable income taxes 8,133,433 (8,138,322)
Increase (decrease) in accounts payable and accrued expenses 9,446,948 1,715,580 $ (5,817,028)
Increase in accrued losses on uncompleted contracts 153,541 396,182
(Decrease) increase in income taxes payable 220,822 (730,469) $ 582,536
Increase (decrease) in billings in excess of costs and estimated earnings on uncompleted contracts (18,212) (82,520) (380,683)
Net cash (used in) provided by operating activities 2,057,832 (3,367,760) 3,267,913
Cash flows from investing activities:      
Purchase of property and equipment (209,718) (602,924) (637,370)
Net cash used in investing activities (209,718) (602,924) $ (637,370)
Cash flows from financing activities:      
Proceeds from exercise of stock options 80,000 447,751
Payment of line of credit (9,650,000) (4,700,000) $ (13,100,000)
Proceeds from line of credit 8,200,000 8,500,000 11,000,000
Payment of long-term debt (1,013,998) (1,024,263) (1,101,243)
Tax benefit for stock options 33,000 86,000 27,000
Net cash provided by (used in) financing activities (2,350,998) 3,309,488 (3,174,243)
Net decrease in cash (502,884) (661,196) (543,700)
Cash at beginning of year 1,504,907 2,166,103 2,709,803
Cash at end of year 1,002,023 $ 1,504,907 $ 2,166,103
Supplemental schedule of noncash investing and financing activities:      
Equipment acquired under capital lease $ 247,881
Accrued expenses settled in exchange for common stock $ 152,076
Stock options proceeds paid with Company’s stock 303,064
Supplemental schedule of cash flow information:      
Cash paid during the year for interest $ 1,000,403 $ 915,695 985,189
Cash paid for income taxes $ 351,275 $ 855,000 $ 3,000,000