XML 33 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
May. 31, 2015
May. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (331,410) $ (215,660)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 253,275 207,033
Change in provision for allowance for doubtful accounts (12,532) (85,730)
Inventory reserve (18,222) (35,591)
Gain on disposal of property and equipment (665) (1,200)
Stock option expense 10,016 11,003
Decrease in deferred rent liability (20,406) (13,799)
Increase in deferred tax assets (298,000) (217,000)
Changes in assets and liabilities:    
Accounts receivable 348,667 (490,316)
Inventories (243,378) (158,960)
Prepaid expenses and other (60,780) 93,106
Other assets (20,541) 35,091
Accounts payable and other accrued expenses (29,136) 103,563
Accrued compensation 17,631 (93,813)
Net cash used in operating activities (405,481) (862,273)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (10,503) (137,234)
Purchases of intangible assets (14,179) (146,496)
Proceeds from sales of property and equipment 1,900 1,200
Net cash used in investing activities $ (22,782) (282,530)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock   150,000
Proceeds from exercise of stock options $ 9,560 35,275
Net cash provided by financing activities 9,560 185,275
Effect of exchange rate changes on cash (2,115) (1,143)
Net decrease in cash and cash equivalents (420,818) (960,671)
CASH AND CASH EQUIVALENTS, beginning of year 1,509,125 2,469,796
CASH AND CASH EQUIVALENTS, end of year $ 1,088,307 1,509,125
Non-cash investing and financing activities:    
Payment of international regulatory approval fees in Exchange for $100,000 due on agreement to purchase Biomerica restricted stock   100,000
Cash paid during the period for:    
Interest $ 138 $ 142
Income taxes $ 800