XML 26 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Net sales $ 17,618,559 $ 18,213,653
Cost of goods sold 12,221,370 11,959,626
GROSS PROFIT 5,397,189 6,254,027
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES [1] 5,483,586 5,350,966
RESEARCH AND DEVELOPMENT EXPENSES [1] 870,279 677,242
(LOSS) INCOME FROM OPERATIONS (956,676) 225,819
INTEREST EXPENSE (90,058) (90,583)
OTHER INCOME 61,176 50,229
(LOSS) INCOME BEFORE INCOME TAXES (985,558) 185,465
INCOME TAX (BENEFIT) EXPENSE (172,000) 46,000
NET (LOSS) INCOME $ (813,558) $ 139,465
(LOSS) INCOME PER COMMON SHARE    
Basic (in dollars per share) $ (0.41) $ 0.07
Diluted (in dollars per share) $ (0.41) $ 0.07
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING    
Basic (in shares) 1,980,253 1,983,553
Diluted (in shares) 1,980,253 1,983,553
[1] The Company does not allocate all general and administrative expenses or any research and development expenses to its operating segments for internal reporting.