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Consolidated Statement of Cash Flow (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities    
Net Income $ 3,391,473 $ 1,065,875
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 923,228 932,003
Unrealized loss (gain) on investments in equity securities 59,033 (174,885)
Amortization of right of use assets 397,536 282,515
Loss on disposal of assets 0 15,000
Non-cash share-based compensation expense 492,665 898,307
Changes in assets and liabilities:    
Decrease (Increase) in accounts receivable (1,716,552) (4,506,870)
Decrease (Increase) in inventories 448,963 1,184,341
Decrease (Increase) in contract assets (857,308) (122,410)
Decrease (Increase) in prepaid expenses & other assets 344,185 (142,314)
Increase (Decrease) in accounts payable 289,046 (1,144,315)
Increase (Decrease) in lease liability (347,115) 193,816
Increase (Decrease) in accrued expenses 1,633,644 (304,194)
Increase (Decrease) in unearned revenue (763,842) 1,561,228
Total adjustments 325,391 960,852
Net Cash Provided by Operating Activities 3,716,864 2,026,727
Cash Flows from Investing Activities    
Cash paid for business acquisitions 0 (4,203,734)
Capital expenditures (147,661) (151,436)
Net Cash (Used in) Investing Activities (147,661) (4,355,170)
Cash Flows from Financing Activities    
Payments on notes (743,580) (732,691)
Payments on bank debt (3,892,153) (933,333)
Borrowings on bank debt 1,791,604 5,963,975
Share repurchase (71,185) (65,709)
Net Cash (Used in) Provided by Financing Activities (2,915,314) 4,232,242
Net Increase (Decrease) in cash and cash equivalents 653,889 1,903,799
Cash and cash equivalents at beginning of period 1,247,627 1,494,415
Cash and cash equivalents at end of period 1,901,516 3,398,214
Supplemental disclosures of cash flow information    
Interest Paid 348,042 202,777
Supplemental disclosures of noncash financing and investing activity    
Additions to ROU assets obtained from new operating lease liabilities $ 46,109 $ 0