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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 977,886 $ 4,505,584
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 866,096 726,441
Deferred income taxes 107,358 371
Stock based compensation 55,780
Provision for bad debts 73,207 92,057
Provision for slow moving and obsolete inventory 40,138 20,395
Other operating non-cash items 346 (1,294)
Changes in assets and liabilities:    
Trade accounts receivable (2,108,835) (4,423,070)
Receivables due from affiliated companies (282,319) 597,826
Inventories (6,805,092) (3,586,128)
Prepaid expenses and other current assets 367,449 (267,649)
Accounts payable – trade 863,016 2,327,290
Income taxes payable (45,295) 3,107
Accrued expenses payable 717,112 432,491
Net cash (used in) provided by operating activities (5,228,933) 483,201
Cash flows from investing activities:    
Purchases of property, plant and equipment (2,664,078) (2,922,273)
Net cash used in investing activities (2,664,078) (2,922,273)
Cash flows from financing activities:    
Borrowings on revolving line of credit 3,459,500
Payments on long-term debt (466,606) (290,570)
Dividends paid to common shareholders (760,784) (568,908)
Repurchase of common stock (5,645)
Net cash provided by (used) in financing activities 2,226,465 (859,478)
Effect of exchange rate on cash (338) 1,775
Net decrease in cash and restricted cash (5,666,884) (3,296,775)
Cash and restricted cash at beginning of period 12,684,935 11,601,152
Cash and restricted cash at end of period 7,018,051 8,304,377
Supplemental disclosure of cash flow information:    
Cash paid for interest during period 94,646 64,824
Cash paid for income taxes during period 502,146 1,207,636
Cash paid under operating lease 47,400 47,400
Cash 7,018,051 8,304,377
Restricted cash
Total cash and restricted cash $ 7,018,051 $ 8,304,377