XML 46 R7.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Cash Flows - Finite-Lived Intangible Assets, Major Class Name [Domain] - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) $ (4,580,032) $ (554,380)
Adjustments to reconcile net (loss) to net cash provided by (used in) operating activities:    
Stock and options issued for compensation, royalties and services 534,430 526,692
Unrealized (gain) loss on derivative (47,113) 117,163
Non-cash earnings on equity method investment (23,715) (42,110)
Allowance for bad debt expense and returns allowances 111,421 (47,769)
Amortization of investment premiums and discounts 14,608 32,301
Amortization of intangibles 1,284,123 1,764,683
Deferred income taxes (212,250) (349,127)
Impairment of intangible asset 2,500 0
Inventory reserve 7,015 (47,859)
Loss on disposal of assets 0 4,754
Depreciation 469,668 491,368
(Increase) decrease in assets:    
Trade accounts receivable (4,691,023) (2,020,815)
Inventory (2,060,021) (21,082)
Costs in excess of billings (27,431) 570,091
Prepaid expenses and other current assets (1,525,971) (358,939)
Deposits and other assets 20,620 (8,855)
Increase (decrease) in liabilities:    
Accounts payable 1,706,644 470,658
Accrued expenses 416,439 337,086
Unearned revenue 1,571,384 427,586
Billings in excess of costs 83,100 (1,242,763)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (6,945,604) 48,683
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid upon acquisition, net of contingent consideration (Note 4) (4,285,445) 0
Investments in other intangible assets, net (78,841) (10,020)
Purchase of short term investments held to maturity 0 (6,282,980)
Maturities of short term investments held to maturity 7,160,157 5,164,186
Proceeds From Deferred Property Grant 138,939 0
Purchase of property and equipment (2,460,249) (473,242)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 474,561 (1,602,056)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments to leases payable (18,640) (70,719)
Payments to notes and loans payable (40,032) (38,082)
NET CASH (USED IN) FINANCING ACTIVITIES (58,672) (108,801)
EFFECT OF EXCHANGE RATE CHANGE ON CASH (8,162) 268,811
Cash and cash equivalents at beginning of period 11,704,361 16,575,508
Cash and cash equivalents at end of period 5,166,484 15,182,145
NET (DECREASE) IN CASH AND CASH EQUIVALENTS (6,537,877) (1,393,363)
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Income taxes paid 15,000 138,663
Interest paid 249,854 254,925
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued for royalties payable pursuant to product agreements, related party 0 18,248
Contingent consideration recorded in acquisition 215,500 0
Capital leases 0 81,716
Common stock issued for prepaid consulting services $ 62,599 $ 0