v3.8.0.1

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (Loss) Income	$ (1,136)	$ 444
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	2,774	2,561
(Gain) Loss on disposal of assets	(3)	2
Share-based compensation	131	170
Deferred income tax benefit	(98)	(144)
(Recovery of) provision for bad debts	58	(237)
Changes in working capital:
Trade accounts receivables	(601)	182
Inventories	3,235	1,937
Other current assets	(39)	114
Accounts payable and accrued expenses	(442)	(197)
Net cash provided by operating activities	3,879	4,832
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property, plant and equipment	(3,099)	(1,203)
Proceeds from sales of property, plant and equipment	2	2
Net cash used in investing activities	(3,097)	(1,201)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from lines of credit	118	82
Payments on lines of credit	(82)	(254)
Proceeds from export credit refinancing facility	0	1,705
Payments on export credit refinancing facility	(228)	(2,560)
Proceeds from capital lease	107	0
Payments on capital lease	(8)	0
Payments on long-term bank debt	(977)	(931)
Proceeds from the issuance of common stock through exercise of warrants	0	1,397
Net cash used in financing activities	(1,070)	(561)
Effect of foreign currency exchange rate fluctuations on cash and cash equivalents	181	(167)
Net (decrease) increase in cash and cash equivalents	(107)	2,903
Cash and cash equivalents at beginning of year	3,716	813
Cash and cash equivalents at end of year	3,609	3,716
Supplemental cash flow disclosures:
Interest paid	117	147
Income taxes paid	76	95
Non-cash investing activities:
Capital expenditures financed through accounts payable and accrued expenses	$ 879	$ 96

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