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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 868,963 $ 1,273,619
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 495,449 465,522
(Gain) / Loss on disposal or abandonment of assets (3,794) 798
Non-cash stock-based compensation 185,825 28,969
Deferred income taxes (33,861) (49,498)
Exchange (gain) / loss 2,154 2,994
Net changes in assets and liabilities:    
Accounts receivable-trade (48,367) (42,110)
Inventory 3,302,954 539,337
Prepaid expenses (292,613) (103,058)
Other current assets (12,835) 110,617
Accounts payable-trade (318,294) 6,055
Accrued expenses and other liabilities (1,205,241) (1,246,439)
Income taxes 95,767 146,483
Total adjustments 2,167,144 (140,330)
Net cash provided by operating activities 3,036,107 1,133,289
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (30,893) (240,020)
Purchase of short-term investments – US treasuries (4,999,750)
Proceeds from sales of assets 12,552
Increase (decrease) in other assets 6,446 957
Net cash used in investing activities (5,011,645) (239,063)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from notes payable and long-term debt 540,940
Payments on notes payable and long-term debt (8,968,018)
Repurchase of common stock (treasury stock) (714,617) (540,940)
Net cash used in financing activities (9,682,635)
Effect of exchange rate changes on cash 267,195 21,394
NET (DECREASE) INCREASE IN CASH (11,390,978) 915,620
CASH, beginning of period 24,070,351 18,337,258
CASH, end of period 12,679,373 19,252,878
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest paid during the period 32,383 64,642
Income tax paid during the period, net of (refunds) $ 235,496 $ 372,587