XML 44 R5.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net loss $ (4,317,056) $ (264,844)
Depreciation and amortization 522,670 701,839
Amortization of deferred gain on sale/leaseback (54,948)
Other 261,075
Provision for losses on accounts receivable 393,938 (55,320)
Provision for losses on inventories 1,278,561 (10,471)
Impairments of Prepaids, Current & Non Current Assets 168,931
Impairment of long-lived assets 1,252,283 (29,386)
Stock based compensation 52,396 105,745
Deferred income taxes (90,206)
Loss on disposition of asset 17,480
Change in assets and liabilities:    
Accounts receivable 2,162,480 (671,380)
Inventories (474,804) (483,573)
Prepaid expenses and other assets 530,172 115,988
Trade payables 1,998,495 800,813
Accrued liabilities (593,960) (285,976)
Net cash provided by (used in) operating activities 3,197,713 (166,771)
Cash flows from investing activities:    
Purchases of property, plant and equipment (72,662) (18,193)
Net cash (used in) investing activities (72,662) (18,193)
Cash flows from financing activities:    
Change in checks written in excess of bank balance 394,227 (445,854)
Net change in revolving line of credit (4,160,724) 1,699,201
Repayment of long-term debt (554,768) (768,003)
Cash paid for deferred financing fees (55,170) (59,530)
Proceeds from issuance of long-term debt 650,000
Net cash provided by (used in) financing activities (3,726,435) 425,814
Effect of exchange rate changes on cash 351,532 30,950
Net increase/(decrease) in cash and cash equivalents (249,852) 271,800
Cash and cash equivalents at beginning of period 428,150 181,026
Cash and cash equivalents at end of period 178,298 452,826
Supplemental disclosure of cash flow information:    
Cash payments for interest 1,045,943 934,231
Cash payments for taxes 300,000
Conversion from Accounts Payable To Common Stock [Member]    
Supplemental disclosure of cash flow information:    
Common stock issued 303,000
Conversion from Notes Payable To Common Stock [Member]    
Supplemental disclosure of cash flow information:    
Common stock issued $ 600,000