XML 20 R6.htm IDEA: XBRL DOCUMENT v3.21.1
STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net income (loss) $ 24,223,013 $ 3,148,234 $ (1,339,943)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:      
Depreciation and amortization 832,069 852,080 886,814
Realized gains on investments (162,595) (7,925)  
Net unrealized gains on investments (1,870,010) (129,315)  
Deferred taxes (4,631,206)    
Inventories reserve     (297,731)
Provision for doubtful accounts, net of write-offs 59,440   47,793
Loss on disposal of assets 33,140    
(Increase) decrease in operating assets:      
Accounts receivable (14,626,910) (1,652,015) 145,407
Inventories (2,784,054) 94,502 (1,041,202)
Other current assets (49,116) 9,602 (226,649)
Income taxes receivable 100,785 100,937 (13,266)
Other assets 43,748 77,541  
Increase (decrease) in operating liabilities:      
Accounts payable 11,248,840 (362,072) 411,927
Accrued liabilities 2,232,059 55,150 699,030
Insurance proceeds     (466,293)
Income taxes payable 4,347,826 7,919 (1,382)
Net cash provided (used) by operating activities 18,997,029 2,194,638 (1,195,495)
Cash flows from investing activities:      
Purchase of property, plant, and equipment (21,049,656) (632,078) (382,156)
Purchase of debt and equity securities (2,242,897) (7,360,398) (2,986,156)
Proceeds from the sales of debt and equity securities 3,965,329 2,712,134  
Net cash used by investing activities (19,327,224) (5,280,342) (3,368,312)
Cash flows from financing activities:      
Proceeds of long-term debt 1,363,000    
Repayments of long-term debt (260,894) (407,014) (446,350)
Proceeds from TIA 10,636,822    
Proceeds from the exercise of stock options 922,512    
Repurchase of preferred stock (482,670)    
Payment of preferred stock dividends (216,642) (219,825) (220,450)
Net cash provided (used) by financing activities 11,962,128 (626,839) (666,800)
Net increase (decrease) in cash and cash equivalents 11,631,933 (3,712,543) (5,230,607)
Cash and cash equivalents at:      
Beginning of period 5,934,749 9,647,292 14,877,899
End of period 17,566,682 5,934,749 9,647,292
Supplemental schedule of cash flow information:      
Interest paid 260,264 166,897 177,190
Income taxes paid 2,106,000   1,173
Supplemental schedule of noncash investing and financing activities:      
Preferred dividends declared, not paid 49,091 54,800 $ 55,113
Conversion of preferred stock to common stock 96,700 $ 8,500  
Redemption price payable 107,250    
Preferred stock repurchase payable 3,007,002    
Amounts receivable under TIA $ 11,779,078