v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
OPERATING ACTIVITIES    
Net Income $ 6,080,762 $ 4,449,535
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 896,681 889,724
Gain on sale of fixed assets (117,693) (62,574)
Bad debt expense 186,882 262,766
Stock awards issued for services 1,059,000 841,166
Changes in operating assets and liabilities:    
Changes in accounts receivable 911,981 (2,591,392)
Changes in income taxes receivable/payable 71,397 1,040,713
Changes in inventories (3,417,671) 1,346,919
Changes in prepaid expenses (14,301) (49,923)
Changes in deferred tax asset/liability (12,275) (11,876)
Changes in accounts payable and accrued liabilities (92,207) 1,597,753
Net Cash Provided by Operating Activities 5,552,556 7,712,811
INVESTING ACTIVITIES    
Proceeds from sale of equipment 219,063 140,462
Purchase of investments 140,356 (334,910)
Purchase of fixed assets (1,927,906) (611,060)
Net Cash Used in Investing Activities (1,568,487) (805,508)
FINANCING ACTIVITIES    
Value of equity awards surrendered by employees for tax liability (737,024) (43,139)
Cash received in exercise of stock options 174,002 111,676
Purchase of Treasury stock (4,670,134) (3,307,544)
Net Cash Used in Financing Activities (5,233,156) (3,239,007)
Effect of exchange rate changes on cash (94,780) 97,882
NET INCREASE (DECREASE) IN CASH (1,343,867) 3,766,178
CASH AT BEGINNING OF PERIOD 11,445,799 7,679,621
CASH AT END OF PERIOD 10,101,932 11,445,799
CASH PAID FOR:    
Interest 0 0
Income taxes $ 2,163,826 $ 1,710,135

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