XML 15 R5.htm IDEA: XBRL DOCUMENT v3.19.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income (loss) $ 262,531 $ (1,126,990)
Adjustments to reconcile net income (loss) to net cash used by operating activities:    
Depreciation and amortization 427,018 452,846
Realized gains on investments (7,924)  
Net unrealized gains on investments (102,128)  
(Increase) decrease in operating assets:    
Accounts receivable (1,244,224) 299,330
Inventories 478,511 (1,581,179)
Other current assets (37,188) 2,816
Other assets 41,036  
Increase (decrease) in operating liabilities:    
Accounts payable (316,145) (155,218)
Other accrued liabilities (324,776) 724,344
Insurance proceeds   (150,906)
Income taxes payable 3,525 210
Net cash used by operating activities (819,764) (1,534,747)
Cash flows from investing activities:    
Purchase of property, plant, and equipment (345,784) (143,636)
Purchase of debt and equity securities (6,755,714)  
Proceeds from the sales of investments 2,362,134  
Net cash used by investing activities (4,739,364) (143,636)
Cash flows from financing activities:    
Repayments of long-term debt (207,070) (239,676)
Payment of preferred stock dividends (110,226) (110,226)
Net cash used by financing activities (317,296) (349,902)
Net decrease in cash and cash equivalents (5,876,424) (2,028,285)
Cash and cash equivalents at:    
Beginning of period 9,647,292 14,877,899
End of period 3,770,868 12,849,614
Supplemental schedule of cash flow information:    
Interest paid 89,384 93,964
Income taxes paid   1,050
Supplemental schedule of noncash investing and financing activities:    
Preferred dividends declared, not paid 54,800 $ 55,113
Conversion of preferred stock to common stock $ 8,500