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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 11,714,595 $ 7,898,975
Adjustments to reconcile net income to cash used in operating activities:    
Depreciation and amortization 247,264 67,005
Stock-based compensation expense 1,375,097 1,513,012
Change in fair value of acquisition contingencies (3,379,890)
Non-cash lease expense 8,762
Loss from equity method investment 21,339 464,943
Loss on disposition of assets 93,421
Deferred income taxes (1,359,716) 302,399
Bad debt expense 47,862 79,700
Changes in assets and liabilities:    
Accounts receivable (871,083) (59,994)
Prepaid expenses 1,042,932 (114,473)
Inventory (3,088,944) 1,797,581
Deferred revenue (150,000) (146,516)
Income taxes payable 2,745,803 1,128,438
Accounts payable, accrued expenses and other liabilities (641,604) (661,115)
Net cash provided by operating activities 7,805,838 12,269,955
Cash flows from investing activities    
Purchases of property and equipment (396,600) (139,558)
Proceeds from maturities of marketable investment securities 1,255,266 2,032,802
Investment in joint venture 500,000
Net cash provided by investing activities 858,666 2,393,244
Cash flows from financing activities    
Proceeds from exercise of options and warrants 150,001 148,981
Net cash provided by financing activities 150,001 148,981
Net increase in cash and cash equivalents 8,814,505 14,812,180
Cash and cash equivalents at beginning of period 88,607,234 42,976,713
Cash and cash equivalents at end of period 97,421,739 57,788,893
Supplemental disclosure of cash flow information    
Interest paid
Income taxes paid
Supplemental disclosure of non-cash investing and financing transactions    
Inventory moved to property, plant and equipment 192,056
Right-of-use assets obtained in exchange for new operating lease liabilities $ 681,327