v3.22.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
|
9 Months Ended |
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income |
$ 1,372,789
|
$ 2,849,839
|
| Items not involving an outlay of cash: |
|
|
| Depreciation and amortization |
237,001
|
175,171
|
| Stock-based compensation expense |
39,386
|
70,391
|
| Gain on extinguishment of debt |
|
(680,707)
|
| Deferred income tax expense |
11,552
|
(57,768)
|
| Changes in non-cash working capital items: |
|
|
| (Increase) in accounts receivable |
(1,185,353)
|
(4,776,635)
|
| (Increase) decrease in inventory |
(5,507,438)
|
1,430,506
|
| Decrease (increase) in prepaid expenses |
48,244
|
(1,544,728)
|
| Decrease in prepaid income taxes |
249,082
|
|
| Increase in accounts payable and accrued liabilities |
692,233
|
736,595
|
| Increase in income taxes payable |
|
189,594
|
| Net cash (used in) provided by operating activities |
(4,042,504)
|
(1,607,742)
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Purchase of property, plant and equipment |
(1,011,359)
|
(1,019,259)
|
| Net cash provided by (used in) investing activities |
(1,011,359)
|
(1,019,259)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from bank indebtedness |
6,000,000
|
996,010
|
| Net cash provided by (used in) financing activities |
6,000,000
|
996,010
|
| Net increase (decrease) in cash |
946,137
|
(1,630,991)
|
| Cash, beginning of period |
1,184,313
|
3,801,037
|
| Cash, end of period |
$ 2,130,450
|
$ 2,170,046
|
| X |
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