XML 26 R6.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statement of Cash Flow (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities    
Net Income $ 2,075,570 $ 1,745,458
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 623,465 494,192
Non-cash share-based compensation expense 36,466 223,859
Changes in assets and liabilities:    
Decrease (Increase) in accounts receivable 2,056,246 (1,332,723)
Decrease (Increase) in inventories (339,843) 162,988
Decrease (Increase) in contract assets (1,775,539) (398,283)
Decrease (Increase) in prepaid expenses & other assets (58,099) 51,144
Increase (Decrease) in accounts payable 2,305,197 (927,360)
Increase (Decrease) in accrued expenses 1,239,831 962,492
Increase (Decrease) in unearned revenue (546,965) (2,285,385)
Total adjustments 3,540,759 (3,049,076)
Net Cash Provided (Used) by Operating Activities 5,616,329 (1,303,618)
Cash Flows from Investing Activities    
Cash paid for acquisition (9,400,000)
Capital expenditures (122,720) (323,447)
Net Cash (Used in) Investing Activities (9,522,720) (323,447)
Cash Flows from Financing Activities    
Payments on notes (684,720) (105,175)
Payments on bank debt (3,093,747) (1,083,334)
Borrowings on bank debt 10,870,893 451,716
Payments on finance lease (1,639)
Net Cash Provided by (Used in) Financing Activities 7,092,426 (738,432)
Net Increase (decrease) in cash and cash equivalents 3,186,035 (2,365,497)
Cash and cash equivalents at beginning of period 2,232,499 5,057,626
Cash and cash equivalents at end of period 5,418,534 2,692,129
Supplemental disclosures of cash flow information    
Interest Paid $ 255,742 $ 190,462