Consolidated Statements of Cash Flows - USD ($)
|
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Cash flows from operating activities: |
|
|
| Net income (loss) |
$ (429,166)
|
$ 659,209
|
| Loss (income) from discontinued operations |
(362,610)
|
1,779
|
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
|
|
| (Gain) loss on sale of property, plant and equipment |
13,320
|
(21,000)
|
| Depreciation and amortization |
1,464,588
|
1,475,806
|
| Impairment of intangibles |
118,318
|
63,087
|
| Non-cash interest expense |
27,683
|
27,683
|
| Change in allowance for doubtful accounts |
15,000
|
5,000
|
| Share-based compensation expense |
29,178
|
33,390
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
723,394
|
262,106
|
| Inventories |
395,529
|
(178,950)
|
| Prepaid expenses and other current assets |
(94,547)
|
(6,385)
|
| Other non-current assets |
301,522
|
(384,762)
|
| Accounts payable |
(303,768)
|
(298,875)
|
| Accrued expenses and other current liabilities |
(90,426)
|
(294,351)
|
| Other non-current liabilities |
(338,249)
|
438,114
|
| Net cash provided by (used in) operating activities of continuing operations |
1,469,766
|
1,781,851
|
| Net cash provided by (used in) operating activites of discontinued operations |
0
|
(1,509)
|
| Net cash provided by (used in) operating activities |
1,469,766
|
1,780,342
|
| Cash flows from investing activities: |
|
|
| Purchases of property, plant and equipment |
(1,182,541)
|
(1,514,678)
|
| Proceeds from sale of property, plant and equipment |
35,700
|
24,500
|
| Cash paid for patents and trademarks |
(6,176)
|
(16,566)
|
| Net cash provided by (used in) investing activities from continuing operations |
(1,153,017)
|
(1,506,744)
|
| Net cash provided by (used in) investing activities from discontinued operations |
0
|
0
|
| Net cash provided by (used in) investing activities |
(1,153,017)
|
(1,506,744)
|
| Cash flows from financing activities: |
|
|
| Proceeds from (payments on) revolving line of credit, net |
(560,000)
|
(703,000)
|
| Proceeds from equipment line of credit |
752,635
|
116,905
|
| Payments on term notes payable |
(526,594)
|
(435,372)
|
| Proceeds from warrant exercises |
0
|
105,300
|
| Proceeds from stock option exercises |
80,103
|
100,692
|
| Net cash provided by (used in) financing activities from continuing operations |
(253,856)
|
(815,475)
|
| Net cash provided by (used in) financing activities from discontinued operations |
0
|
0
|
| Net cash provided by (used in) financing activities |
(253,856)
|
(815,475)
|
| Net increase (decrease) in cash and cash equivalents |
62,893
|
(541,877)
|
| Cash and cash equivalents, beginning of period |
209,398
|
751,275
|
| Cash and cash equivalents, end of period |
272,291
|
209,398
|
| Less: cash and cash equivalents of discontinued operations at end of period |
0
|
0
|
| Cash and cash equivalents of continuing operations at end of period |
272,291
|
209,398
|
| Supplemental Cash Flow Information (unaudited) |
|
|
| Cash paid for interest |
222,237
|
228,255
|
| Cash received from tax refunds |
0
|
132
|
| Non-cash activities: |
|
|
| Reclassified assets held for sale |
665,000
|
|
| Equipment line of credit converted to term notes payable |
415,785
|
740,999
|
| Reduction of restricted cash offset by performance guarantee |
$ 0
|
$ 975,430
|