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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income (loss) $ (1,874,042) $ 1,799,360
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 591,384 572,184
Stock-based compensation 3,752 0
Bad debts reserve 1,559 (202,905)
Inventory reserve (28,390) 180,164
Deferred asset allowance 0 (37,518)
Loss on sale of property and equipment 0 12
(Increase) decrease in:    
Accounts receivable 1,235,162 2,692,726
Deferred asset 0 762,012
Inventory 5,681,721 3,466,369
Payments in advance (503,679) 5,079
Prepaid expenses and other current assets (294,959) 865,006
Income tax refunds receivable 101,993 0
Long-term accounts receivable 65,564 0
Deposits (1,317) 924
Increase (decrease) in:    
Accounts payable and accrued expenses (1,984,795) (858,760)
Income taxes payable 0 (2,026,505)
Deferred compensation 0 (400,000)
Net cash provided by operating activities 2,993,953 6,818,148
Cash flows from investing activities    
Capital expenditures (239,094) (265,819)
Net cash used in investing activities (239,094) (265,819)
Cash flows from financing activities    
Repayment of notes payable to bank (55,890) (52,141)
Repayment of short-term loan, net (735,363) (738,228)
Net cash used in financing activities (791,253) (790,369)
Effect of exchange rates on cash and cash equivalents 18,922 (867,308)
Net increase in cash and cash equivalents 1,982,528 4,894,652
Cash and cash equivalents - beginning of period 11,347,420 7,102,945
Cash and cash equivalents - end of period 13,329,948 11,997,597
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 42,210 42,127
Cash paid for income taxes 26,633 2,846,403
Other noncash investing and financing activities    
Common stock issued for services $ 3,752 $ 0