v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net income $ 2,405,675 $ 2,665,149
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 1,887,508 1,748,892
Amortization of debt issuance costs 5,399 5,921
Deferred income taxes (80,321) (291,308)
Gain on sale of property and equipment (13,391) (2,572)
Other losses 1,001 0
Changes in operating assets and liabilities    
Accounts receivable and accrued billings 5,071,424 2,123,564
Costs and estimated earnings in excess of billings on uncompleted contracts (7,622,964) (3,090,811)
Residential properties under construction (1,169,662) 162,367
Income taxes receivable 619,552 533,837
Prepaid expenses and other assets (222,777) (894,916)
Land and land development costs (434,031) 473,986
Income taxes payable 348,708 1,241,528
Accounts payable and accrued liabilities 2,170,465 (3,222,390)
Billings in excess of costs and estimated earnings on uncompleted contracts (60,634) (324,826)
Accrued remediation costs (8,976) (17,490)
Net cash provided by operating activities 2,896,976 1,110,931
Cash flows from investing activities    
Proceeds from disposal of property and equipment 70,500 36,242
Purchases of property, buildings and equipment (3,374,256) (5,987,477)
Net cash used in investing activities (3,303,756) (5,951,235)
Cash flows from financing activities    
Repayments on notes payable (1,530,000) (1,531,056)
Other long term debt repayments (26,266) 0
Net cash used in financing activities (1,556,266) (1,531,056)
Net decrease in cash, cash equivalents and restricted cash (1,963,046) (6,371,360)
Cash, cash equivalents and restricted cash at beginning of the period 18,631,784 20,772,689
Cash, cash equivalents and restricted cash at end of the period 16,668,738 14,401,329
Supplemental disclosure of cash flow information    
Interest paid, net of amounts capitalized 188,194 127,751
Income taxes (refunded) paid, net (9,800) 53,081
Supplemental disclosure of non-cash investing    
Liability for equipment acquired 523,047 87,482
Equipment funded by other long term debt $ 378,734 $ 0

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