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Consolidated Statement of Cash Flow (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities    
Net Income $ 6,280,341 $ 7,242,815
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,022,185 2,024,296
Loss (Gain) on investments in equity securities 379,466 (118,482)
Amortization of right of use assets 781,352 792,382
Loss on disposal of assets 0 59,071
Share-based compensation expense 844,579 928,788
Changes in assets and liabilities:    
Accounts receivable (6,789,816) 697,128
Inventories (896,158) (987,162)
Contract assets 1,869,705 (125,609)
Prepaid expenses & other assets (155,283) 470,831
Right of use assets 1,294,087 (457,317)
Other noncurrent assets 13,000 240,471
Accounts payable 715,063 (1,251,066)
Lease liabilities (2,073,478) (327,772)
Accrued Income Taxes (1,595,436) (1,016,541)
Other current liabilities 682,609 657,210
Unearned revenue 634,295 (606,775)
Total adjustments (2,273,830) 979,453
Net Cash Provided by Operating Activities 4,006,511 8,222,268
Cash Flows from Investing Activities    
Cash paid for business acquisitions, net (6,549,750) 0
Proceeds from sale of property, plant and equipment 72,000 0
Sale of investments 199,228 0
Capital expenditures (1,768,093) (866,127)
Net Cash (Used in) Investing Activities (8,046,615) (866,127)
Cash Flows from Financing Activities    
Payments on notes (405,724) (1,447,315)
Payments on bank debt (6,530,286) (9,304,931)
Borrowings on bank debt 11,288,476 5,545,035
Payments for debt issue costs (77,396) 0
Share repurchase (252,269) (111,775)
Net Cash Provided by (Used in) Financing Activities 4,022,801 (5,318,986)
Net Increase in cash and cash equivalents (17,303) 2,037,155
Cash and cash equivalents at beginning of period 1,647,175 1,247,627
Cash and cash equivalents at end of period 1,629,872 3,284,782
Supplemental disclosures of cash flow information    
Interest Paid 512,869 742,808
Supplemental disclosures of noncash financing and investing activity    
Additions to ROU assets obtained from new operating lease liabilities 107,870 457,808
Purchase accounting adjustment to Goodwill for a change in inventory 0 147,591
Purchase accounting adjustment to Goodwill for a change in fixed assets 0 73,520
Assumption of debt for purchase of real-estate 5,869,250 0
Issuance of Class A common shares for capital expenditures $ 30,011 $ 150,000