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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities    
Net income $ 7,436,045 $ 1,065,157
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 1,357,438 1,503,976
Amortization of right-of-use assets 211,935 131,093
Share-based compensation expense 926,639 873,737
Deferred tax benefit (6,345,914)
Impairment on asset held for sale 130,375
Loss on disposition of assets 70,664
Amortization of deferred loan cost 10,618 18,524
Changes in operating assets and liabilities:    
Accounts receivable 570,860 (369,289)
Inventories (625,231) (906,625)
Prepaid expenses and other assets (288,975) (62,946)
Accounts payable, accrued expenses, and other liabilities (363,657) 127,274
Income tax payable 233,511 145,128
Other current liabilities 216,000
Deferred income 675,000
Net cash provided by operating activities 3,193,933 3,547,404
Cash Flows from Investing Activities    
Purchases of property, plant and equipment (3,741,419) (3,330,206)
Proceeds from recovery of related party note receivable 350,262
Net cash used in investing activities (3,391,157) (3,330,206)
Cash Flows from Financing Activities    
Principal payments on debt (660,706) (1,694,730)
Proceeds received from debt borrowings 2,072,406 997,134
Payments on revolving loan (1,645,427) (817,113)
Proceeds received from revolving loan 828,626 633,436
Proceeds from issuance of common stock 6,408
Payments of debt issuance costs (90,376)
Disgorgement of profits 198,894
Net cash (used in) provided by financing activities 709,825 (881,273)
Net increase in cash and restricted cash 512,601 (664,075)
Cash and restricted cash at beginning of period 2,158,025 2,822,100
Cash and restricted cash at end of period 2,670,626 2,158,025
Supplemental information:    
Cash paid for interest 516,987 566,336
Cash paid for income taxes 63,101
Non-Cash item related to deferred income 675,000
Right of use assets obtained in exchange for lease obligations 24,927 748,677
Property, plant and equipment in accounts payable $ 282,639