v3.20.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities    
Net income $ 6,726,607 $ 5,027,751
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 10,846,334 8,436,972
Amortization of debt issuance costs 30,024 34,873
Deferred income taxes 2,947,723 1,362,322
Gain on sale of property and equipment (51,123) (176,564)
Other losses 3,576 3,326
Changes in operating assets and liabilities    
Accounts receivable and accrued billings (1,694,584) (669,229)
Costs and estimated earnings in excess of billings on uncompleted contracts 2,708,632 (5,955,654)
Residential properties under construction 6,184,631 (5,832,793)
Income taxes receivable (262,091) (600,975)
Prepaid expenses and other assets 1,438,893 55,966
Land and land development costs (380,501) (353,352)
Accounts payable and accrued liabilities 321,067 4,512,742
Operating leases 6,946  
Billings in excess of costs and estimated earnings on uncompleted contracts (433,510) 998,734
Accrued remediation costs (22,661) (24,634)
Net cash provided by operating activities 28,369,963 6,819,485
Cash flows from investing activities    
Proceeds from disposal of property and equipment 563,707 1,031,674
Purchases of property, buildings and equipment (19,854,468) (19,609,245)
Net cash used in investing activities (19,290,761) (18,577,571)
Cash flows from financing activities    
Purchases of treasury stock (161,285) (1,970,632)
Proceeds from notes payable 15,500,000 18,275,451
Repayments on notes payable (12,176,000) (11,645,451)
Other long-term debt repayments (297,599) (107,400)
Debt issuance costs (74,515) (23,313)
Net cash provided by financing activities 2,790,601 4,528,655
Net increase (decrease) in cash, cash equivalents and restricted cash 11,869,803 (7,229,431)
Cash, cash equivalents and restricted cash at beginning of the year 11,402,353 18,631,784
Cash, cash equivalents and restricted cash at end of the year 23,272,156 11,402,353
Supplemental disclosure of cash flow information    
Interest paid, net of amounts capitalized 1,421,656 805,756
Income taxes paid, net 577,741 1,035,599
Supplemental disclosure of non-cash investing    
Liability for equipment acquired 124,178 2,235,772
Equipment funded by other long-term debt   $ 297,599
Right-of-use asset obtained in exchange for operating lease obligations $ 5,819,471  

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