v3.25.4
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating activities:    
Net income $ 10,184,421 $ 10,022,351
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 3,799,331 3,500,876
Amortization of intangible assets 2,547,383 2,568,349
Stock compensation expense 1,993,758 2,183,001
Deferred income taxes 2,220,062 565,312
Non-cash lease adjustment (9,790) (40,373)
Provision for excess and obsolete inventory 306,739  
Provision for credit losses 14,443 393,945
Amortization of deferred financing costs 29,804 39,738
Change in earnout liability   24,481
Changes in operating assets and liabilities    
Accounts receivable (592,817) (2,459,450)
Inventories (3,072,247) (329,896)
Prepaid expenses and other current assets 937,348 (704,417)
Accounts payable (1,056,153) (2,981,506)
Other accrued liabilities 927,167 (807,171)
Total adjustments 8,045,028 1,952,889
Net cash provided by operating activities 18,229,449 11,975,240
Investing activities:    
Purchase of property, plant and equipment (10,651,913) (7,148,648)
Acquisition of Schmiedeglut (1,651,749)  
Proceeds from sale of business, net of related costs   1,100,000
Acquisition of Safety Made   (750,000)
Acquisition of Elite First Aid   (6,140,519)
Net cash used in investing activities (12,303,662) (12,939,167)
Financing activities:    
Net (repayments) borrowings of long-term debt (5,771,294) 4,476,192
Repayments on mortgage (430,447) (413,235)
Distributions to stockholders (2,343,305) (2,221,924)
Cash settlement of stock options (680,977) (415,900)
Tax paid on net share settlement of stock options (354,914) (1,042,726)
Issuance of common stock 697,531 1,621,237
Net cash (used in) provided by financing activities (8,883,406) 2,003,644
Effect of exchange rate changes 154,905 (186,979)
Net (decrease) increase in cash and cash equivalents and restricted cash (2,802,714) 852,738
Cash and cash equivalents at beginning of year 6,398,692 5,545,954
Cash and cash equivalents at end of year 3,595,978 6,398,692
Supplemental cash flow information:    
Cash paid for income taxes 560,723 2,248,217
Cash paid for interest expense 1,572,407 1,903,301
Non-cash financing activities    
Dividends accrued not paid $ 609,075 $ 563,175