XML 36 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows operating activities    
Net income $ 5,304,660 $ 3,520,916
Stock based compensation expense 123,571 124,626
Depreciation and amortization 1,615,657 180,402
Deferred federal income tax (144,000) (1,639,000)
Reduction of contingent liability (1,850,000)   
Changes in operating assets and liabilities    
Accounts receivable (794,821) (1,073,778)
Accounts receivable-other    (127,162)
Accounts receivable- related parties    2,459
Inventory (2,338,000) (85,658)
Prepaid expenses (78,925) 23,313
Accounts payable 3,516,056 1,005,932
Accounts payable-related parties    296,795
Deposits    (235,557)
Net cash provided by operating activities 5,354,198 1,993,288
Cash flows from investing activities    
Purchase of intangible assets    (209,061)
Acquisition, net (67,972) (1,319,015)
Refund of asset acquisition 675,558   
Purchase of fixed assets (1,671,295) (77,232)
Net cash used in investing activities (1,063,709) (1,605,308)
Cash flows from financing activities    
Line of credit payments, net (3,250,000)   
Payments on note payable (1,372,453) (3,777)
Proceeds from exercise of common stock warrants 55,250 91,625
Net cash provided by (used in) financing activities (4,567,203) 87,848
Net increase (decrease) in cash and cash equivalents (276,714) 475,828
Cash and cash equivalents at beginning of the period 807,940 675,188
Cash and cash equivalents at end of period 531,226 1,151,016
SUPPLEMENTAL INFORMATION    
Cash paid for interest during the period 323,956 1,005
Cash paid for income taxes during the period 122,001 6,187
NON-CASH TRANSACTIONS    
Conversion of Series A Preferred Stock into common shares $ 189 $ 78