XML 19 R5.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Net income for the year $ 7,713,229 $ 4,294,257
Adjustments to reconcile net income to net cash:    
Stock based compensation 399,148 210,112
Depreciation and amortization 1,277,431 965,935
Lease right of use financing 8,566 22,057
Lease right of use amortization 50,045 265,846
Gain on investments (341,424) (507,143)
Bad debt expense 17,869 6,979
Deferred income tax expense (recovery) (71,295) 363,317
Gain on sale of land (44,330)
Gain on acquisition of ENP Peru, LLC (335,051)
PPP loan forgiveness (537,960)
Changes in non-cash working capital items:    
Increase in accounts receivable (2,338,397) (1,246,495)
Increase in inventories (4,124,022) (1,275,746)
Decrease (increase) in prepaid expenses 131,864 (139,714)
Increase in accounts payable and accrued liabilities (700,191) 102,856
Increase in taxes payable (249,628) 2,021,048
Increase in deferred revenue 38,759 34,727
Cash provided by operating activities 1,476,903 4,535,746
Investing activities    
Purchase of investments (500,000)
Proceeds of equity investment distributions 265,001 359,300
Acquisition of ENP Peru, LLC (499,329)
Sale of property and equipment 263,380
Purchase of property and equipment (1,981,307) (782,219)
Cash used in investing activities (2,215,635) (659,539)
Financing activities    
Advance of short term line of credit 517,772 184,746
Repayment of long term debt (2,292,819) (943,080)
Proceeds of long term debt 3,230,798
Lease payments (58,611) (287,903)
Distribution to non-controlling interest (689,434) (804,003)
Sale of common stock 140,620 140,440
Cash provided by (used in) financing activities 848,326 (1,709,800)
Effect of exchange rate changes on cash (30,069) 96,391
Inflow of cash 79,525 2,262,798
Cash resources, beginning 6,735,574 4,472,776
Cash resources 6,815,099 6,735,574
Cash resources are comprised of:    
Cash 6,115,099 5,710,227
Term deposits 700,000 1,025,347
Supplemental disclosure of cash flow information:    
Income taxes paid 158,966
Interest paid 292,949 179,029
Inventory additions in accounts payable and accrued liabilities $ 793,403 $ 250,923