Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Jun. 30, 2016
Jun. 30, 2015
OPERATING ACTIVITIES    
Net Loss $ (605,295) $ (458,814)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 252,914 225,945
(Gain) Loss on sale of fixed assets 2,592 (18,637)
Bad debt expense 151,444 104,774
Stock options issued for services 143,765 187,406
Changes in operating assets and liabilities:    
Changes in accounts receivable 770,432 2,402,191
Changes in income taxes receivable/payable (541,844) (129,012)
Changes in inventories 1,075,330 786,325
Changes in prepaid expenses 7,491 (18,728)
Changes in deferred tax asset/liability 15,095 (33,205)
Changes in accounts payable and accrued liabilities (535,243) (181,741)
Net Cash Provided by Operating Activities 736,681 2,866,504
INVESTING ACTIVITIES    
Proceeds from sale of equipment 16,896 52,500
Purchase of fixed assets   (12,285)
Net Cash Provided by (Used in) Investing Activities 16,896 40,215
FINANCING ACTIVITIES    
Value of equity awards surrendered by employees for tax liability   (23,526)
Stock issued in exercise of stock options
Net Cash Provided by (Used in) Financing Activities   (23,526)
Effect of exchange rate changes on cash (3,082) 158,248
NET INCREASE IN CASH 750,495 3,041,441
CASH AT BEGINNING OF PERIOD 21,292,595 14,144,796
CASH AT END OF PERIOD 22,043,090 17,186,237
CASH PAID FOR:    
Interest
Income taxes