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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 208,000 $ 66,000
Accounts receivable, net 3,318,000 3,443,000
Inventories, net 8,496,000 7,876,000
Prepaid expenses 646,000 625,000
Other current assets 240,000 464,000
Total current assets 12,908,000 12,474,000
Property, plant and equipment:    
Machinery and equipment 17,470,000 17,470,000
Office furniture and equipment 2,076,000 2,076,000
Intellectual property 783,000 783,000
Leasehold improvements 23,000 23,000
Fixtures and equipment at customer locations 518,000 519,000
Projects under construction 255,000 223,000
Property, Plant and Equipment, Gross 21,125,000 21,094,000
Less : accumulated depreciation and amortization (20,049,000) (19,951,000)
Total property, plant and equipment, net 1,076,000 1,143,000
Other assets:    
Operating lease right-of-use 4,277,000 3,530,000
Other assets 0 135,000
Total other assets 4,277,000 3,665,000
TOTAL ASSETS 18,261,000 17,282,000
Current liabilities:    
Trade payables 2,347,000 2,132,000
Line of credit 5,158,000 5,003,000
Notes payable - current portion 229,000 726,000
Notes payable - officers, subordinated 0 1,193,000
Operating Lease Liabilities 500,000 670,000
Accrued liabilities 485,000 647,000
Total current liabilities 8,719,000 10,371,000
Long-term liabilities:    
Notes payable - noncurrent 493,000 0
Notes payable - officers, subordinated 1,211,000 0
Operating Lease, Liability, Noncurrent 3,777,000 2,860,000
Total long-term liabilities 5,481,000 2,860,000
TOTAL LIABILITIES 14,200,000 13,231,000
Shareholders' Equity:    
Common Stock – no par value, 50,000,000 shares authorized, 5,955,408 and 5,930,408 shares issued and 5,911,750 and 5,886,750 shares outstanding at March 31, 2022 and December 31, 2021, respectively 14,538,000 14,538,000
Paid-in-capital 4,146,000 4,317,000
Accumulated deficit (22,676,000) (22,655,000)
Less: Treasury stock, 43,658 shares (161,000) (161,000)
Total Shareholders' Equity 4,061,000 4,051,000
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 18,261,000 17,282,000
Series A Preferred Stock [Member]    
Shareholders' Equity:    
Preferred Stock 3,255,000 3,155,000
Series B Preferred Stock [Member]    
Shareholders' Equity:    
Preferred Stock 1,749,000 1,715,000
Series C Preferred Stock [Member]    
Shareholders' Equity:    
Preferred Stock 1,664,000 1,630,000
Series D Preferred Stock [Member]    
Shareholders' Equity:    
Preferred Stock $ 1,546,000 $ 1,512,000