XML 15 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net (loss) income $ (811,068) $ (828,004)
Depreciation and amortization 981,449 1,163,736
Amortization of debt discount 112,622
Change in fair value of warrants (19,999)
Stock based compensation 139,450
Amortization of deferred gain on sale/leaseback (83,394) (84,759)
Provision for losses on accounts receivable (40,924) (20,882)
Provision for losses on inventories 14,250 94,518
Deferred income taxes (347,725) (409,621)
Change in assets and liabilities:    
Accounts receivable 1,717,018 5,864,010
Inventories (819,293) (324,813)
Prepaid expenses and other assets (776,294) 16,362
Trade payables 385,715 (60,770)
Accrued liabilities (267,938) (272,183)
Net cash provided by operating activities 91,246 5,230,217
Cash flows from investing activities:    
Purchases of property, plant and equipment (323,785) (735,567)
Net cash used in investing activities (323,785) (735,567)
Cash flows from financing activities:    
Change in checks written in excess of bank balance 149,447 (1,170,599)
Net change in revolving line of credit 821,390 (2,758,809)
Repayment of long-term debt (related parties $17,000 and $0) (697,040) (466,638)
Cash paid for deferred financing fees (32,805) (20,298)
Net cash (used in) provided by financing activities 240,992 (4,416,344)
Effect of exchange rate changes on cash 84,360 (316,637)
Net increase (decrease) in cash and cash equivalents 92,813 (238,331)
Cash and cash equivalents at beginning of period 181,026 563,043
Cash and cash equivalents at end of period 273,839 324,712
Supplemental disclosure of cash flow information:    
Cash payments for interest 1,381,149 934,057
Cash payments for taxes 300,000
Supplemental Disclosure of non-cash investing and financing activity    
Exchange of Note Payable for Warrants 797,881
Property, Plant & Equipment acquisitions funded by liabilities $ 39,319 $ 19,580