XML 16 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (5,244,274) $ 5,504,120
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
(Gain) loss on sale of marketable securities (582,910) 6,837
(Gain) loss on sale of property and equipment 13,909 (50,837)
Change in accounts receivable and inventory reserves 1,409,575 (157,059)
Depreciation, amortization and impairment 2,755,071 667,595
Change in cash surrender value of life insurance (164,632) (120,159)
Warranty reserve. (66,869) (93,228)
Compensation expense related to stock options 31,000
Other-than-temporary impairment loss on investments 1,502,239
Change in operating assets and liabilities:    
Accounts receivable (1,350,470) (3,576,456)
Notes receivable and other non-trade receivables (669,943) (137,634)
Inventories (8,569,464) 383,383
Prepaid expenses and other 450,498 80,138
Accounts payable 1,615,448 (565,144)
Accrued expenses (317,093) 152,974
Income tax payable / receivable (873,557) 897,266
Non-current liabilities (580,110) (34,310)
Total adjustments (5,428,308) (2,515,634)
Net cash (used in) provided by operating activities (10,672,582) 2,988,486
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities (2,505,519) (3,278,466)
Proceeds from sale of marketable securities 5,781,001 54,958
Net cash flow used in business combinations (4,573,700) 78,000
Capital expenditures (1,518,007) (1,051,055)
Proceeds from sale of property and equipment 6,281 185,830
Net cash used in investing activities (2,809,944) (4,010,733)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from line of credit 52,462,391 14,472,273
Payment on line of credit (34,103,649) (19,291,273)
Proceeds from lease funding 7,428
Repurchase of common stock (7,917,009)
Net cash provided by (used in) financing activities 9,741,175 (7,842,572)
Effect of foreign currency exchange rates on cash and cash equivalents 17,786 (12,985)
NET DECREASE IN CASH AND CASH EQUIVALENTS (3,723,565) (8,877,804)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 5,345,455 [1] 14,165,120
CASH AND CASH EQUIVALENTS AT END OF PERIOD 1,621,890 5,287,316
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING ACTIVITIES:    
Finished goods inventory transferred to equipment leased to customers 321,345 1,288,474
Change in fair value of marketable securities (893,225) 171,220
SUPPLEMENTAL DISCLOSURE OF INVESTING ACTIVITIES:    
Non-controlling interest in acquired business 1,072,161
Acquired business earnout contracts and payable 3,075,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest 158,100 56,546
Income taxes 1,028,457 1,966,881
Delphax [Member]    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment on line of credit (700,558) $ (3,031,000)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD [2],[3] 249,528  
CASH AND CASH EQUIVALENTS AT END OF PERIOD [2] $ 95,357  
[1] Derived from audited consolidated financial statements
[2] Amounts related to Delphax as of December 31, 2016 and March 31, 2016, respectively
[3] Derived from audited consolidated financial statements