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Consolidated Statement of Cash Flow (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities    
Net Income $ 10,057,550 $ 3,491,684
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,156,558 2,800,279
Loss on investments in equity securities 17,040 535,439
Amortization of right of use assets 1,267,360 1,054,699
Loss on disposal of assets 59,237 15,370
Non-cash share-based compensation expense 1,153,105 937,921
Changes in assets and liabilities:    
Accounts receivable (2,578,233) (2,858,971)
Inventories (621,222) (3,877,729)
Contract assets 64,529 112,121
Prepaid expenses & other assets 618,927 (82,071)
Accounts payable (2,671,465) 2,598,799
Lease liabilities (673,160) (600,510)
Other current liabilities (1,097,923) 749,110
Unearned revenue 2,218,573 1,293,953
Total adjustments 913,326 2,678,409
Net Cash Provided by Operating Activities 10,970,876 6,170,094
Cash Flows from Investing Activities    
Cash paid for business acquisitions 0 (4,331,739)
Capital expenditures (1,394,192) (533,581)
Net Cash (Used in) Investing Activities (1,394,192) (4,865,320)
Cash Flows from Financing Activities    
Payments on notes (1,657,749) (3,331,091)
Payments on bank debt (14,246,403) (4,535,000)
Borrowings on bank debt 6,741,084 8,115,202
Payments on contingent liability 0 (750,000)
Share repurchase (111,775) (140,709)
Net Cash Used in Financing Activities (9,274,843) (641,597)
Net Increase in cash and cash equivalents 301,841 663,178
Cash and cash equivalents at beginning of period 1,247,627 1,494,415
Cash and cash equivalents at end of period 1,549,468 2,157,591
Supplemental disclosures of cash flow information    
Interest Paid 1,002,952 736,334
Supplemental disclosures of noncash financing and investing activity    
Additions to ROU assets obtained from new operating lease liabilities 457,317 380,298
Purchase accounting adjustment to Goodwill for a change in inventory 147,591 0
Purchase accounting adjustment to Goodwill for a change in fixed assets 73,520 0
Issuance of Class A common shares in business acquisition 0 1,000,012
Issuance of Class A common shares for capital expenditures $ 150,000 $ 0