XML 36 R6.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:    
Net (loss) income $ (3,738,724) $ (1,782,857)
Depreciation and amortization 1,264,424 1,546,413
Amortization of debt discount 112,622
Change in fair value of warrants (19,999)
Loss on impairment of equity 220,000
Stock based compensation 171,576
Amortization of deferred gain on sale/leaseback (109,801) (109,976)
Provision for losses on accounts receivable (28,296) (29,227)
Provision for losses on inventories (98,179) (295,430)
Deferred income taxes 967,373 594,223
Change in assets and liabilities:    
Accounts receivable 399,414 3,878,170
Inventories (1,169,583) (222,491)
Prepaid expenses and other assets (112,392) (690,015)
Trade payables 1,262,441 (564,333)
Accrued liabilities (256,130) (1,157,701)
Net cash (used in) provided by operating activities (1,227,877) 1,259,399
Cash flows from investing activities:    
Purchases of property, plant and equipment (459,542) (753,199)
Net cash used in investing activities (459,542) (753,199)
Cash flows from financing activities:    
Change in checks written in excess of bank balance 181,292 (1,233,825)
Net change in revolving line of credit 2,802,076 2,466,652
Repayment of long-term debt (related parties $17,000 and $0) (1,074,767) (8,663,000)
Cash paid for deferred financing fees (22,755) (299,824)
Contributions received by Variable Interest Entity 495,993 515,912
Proceeds from issuance of stock 63,600 0
Proceeds from issuance of debt 7,507,362
Proceeds from issuance of note receivable 8,740
Net cash (used in) provided by financing activities 2,445,439 302,017
Effect of exchange rate changes on cash (510,896) (1,190,234)
Net increase (decrease) in cash and cash equivalents 247,124 (382,017)
Cash and cash equivalents at beginning of period 181,026 563,043
Cash and cash equivalents at end of period 428,150 181,026
Supplemental disclosure of cash flow information:    
Cash payments for interest 2,011,827 1,426,743
Cash payments for taxes 165,000 300,000
Supplemental Disclosure of non-cash investing and financing activity    
Interest Accrued not paid 86,000 65,000
Property, Plant & Equipment acquisitions funded by liabilities $ 39,358 $ 186,409