v3.21.1
Consolidated Statements of Cash Flows - USD ($)
|
12 Months Ended |
|
|
Operating activities: |
|
|
Net income |
$ 8,098,766
|
$ 5,513,608
|
Adjustments to reconcile net income to net cash provided by operating activities |
|
|
Depreciation |
2,427,557
|
2,181,060
|
Amortization |
1,324,423
|
1,251,662
|
Stock compensation expense |
1,259,079
|
968,467
|
Deferred income taxes |
60,937
|
162,637
|
Non-cash lease expense |
86,042
|
19,222
|
Provision for doubtful accounts |
778,869
|
290,128
|
Pension settlement |
526,857
|
|
Changes in operating assets and liabilities |
|
|
Accounts receivable |
(2,028,341)
|
(784,562)
|
Inventories |
(10,049,513)
|
2,089,861
|
Prepaid expenses and other current assets |
159,078
|
666,070
|
Accounts payable |
460,179
|
(1,525,060)
|
Other accrued liabilities |
2,617,103
|
3,869,138
|
Total adjustments |
(2,377,730)
|
9,188,623
|
Net cash provided by operating activities |
5,721,036
|
14,702,231
|
Investing activities: |
|
|
Purchase of property, plant and equipment |
(2,569,174)
|
(1,680,479)
|
Net cash used by investing activities |
(13,951,902)
|
(1,680,479)
|
Financing activities: |
|
|
Net borrowings (repayments) of long-term debt |
5,526,760
|
(7,042,708)
|
Repayments on mortgage |
(266,667)
|
(266,667)
|
Distributions to stockholders |
(1,604,706)
|
(1,608,956)
|
Cash settlement of stock options |
(1,644,118)
|
(1,687,782)
|
Purchase of treasury stock |
(286,988)
|
|
Issuance of common stock |
58,754
|
|
Net cash provided by (used in) financing activities |
5,291,082
|
(10,606,113)
|
Effect of exchange rate changes |
285,277
|
(2,799)
|
Net (decrease) increase in cash and cash equivalents |
(2,654,507)
|
2,412,841
|
Cash and cash equivalents at beginning of year |
6,821,883
|
4,409,042
|
Cash and cash equivalents at end of year |
4,167,376
|
6,821,883
|
Supplemental cash flow information: |
|
|
Cash paid for income taxes |
755,337
|
422,339
|
Cash paid for interest expense |
930,357
|
$ 1,863,961
|
PPP Loan |
|
|
Financing activities: |
|
|
Proceeds from PPP Loan |
3,508,047
|
|
Med-Nap, LLC |
|
|
Investing activities: |
|
|
Acquisition |
(9,307,518)
|
|
First Aid Central |
|
|
Operating activities: |
|
|
Net income |
300,000
|
|
Investing activities: |
|
|
Acquisition |
$ (2,075,210)
|
|
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