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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
OPERATING ACTIVITIES    
Net income $ 1,434,375 $ 2,589,621
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 267,654 262,039
Gain on sale of property and equipment (44,821) (53,075)
Bad debt expense 61,684 41,792
Stock awards issued for services 197,443 223,047
Changes in operating assets and liabilities:    
Accounts receivable (23,969) (1,108,889)
Income taxes receivable/payable (804,057) 629,371
Inventories (1,741,768) (292,119)
Prepaid expenses and other current assets (564,253) (335,832)
Deferred tax asset/liability (7,112) 212,548
Accounts payable and accrued liabilities (1,467,314) (1,646,723)
Net Cash Provided by (Used in) Operating Activities (2,692,138) 521,780
INVESTING ACTIVITIES    
Proceeds from sale of property and equipment 46,097 97,886
Sale (purchase) of investments 199,357 (390,548)
Purchase of property and equipment (776,721) (153,755)
Net Cash Used in Investing Activities (531,267) (446,417)
FINANCING ACTIVITIES    
Value of equity awards surrendered by employees for tax liability (307,933) (242,506)
Principal paid toward lease liability (10,875) (6,947)
Net Cash Used in Financing Activities (318,808) (249,453)
Effect of exchange rate changes on cash (28,882) 8,868
NET DECREASE IN CASH (3,571,095) (165,222)
CASH AT BEGINNING OF PERIOD 10,767,519 7,384,578
CASH AT END OF PERIOD 7,196,424 7,219,356
CASH PAID FOR:    
Interest 2,945 933
Income taxes 1,056,844 0
NON-CASH FINANCING AND INVESTING ACTIVITIES    
Common stock issued in settlement of accrued bonuses 324,415 378,526
Common stock issued for stock options $ 850 $ 0

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