XML 12 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED BALANCE SHEETS - USD ($)
Jun. 30, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash and cash equivalents $ 800,889 $ 2,248,466
Short-term investments 3,399,000  
Trade receivables, less allowance of $60,000 in 2016 and $122,000 in 2015 1,811,231 2,165,194
Inventories 2,215,548 2,119,805
Prepaid expenses and other assets 141,273 85,648
Income taxes receivable 131,894 102,778
Total current assets 8,499,835 6,721,891
PROPERTY, PLANT, AND EQUIPMENT, at cost:    
Land and building 9,383,591 6,391,555
Machinery and equipment 4,873,106 4,275,910
Office equipment 961,770 933,596
Vehicles 272,144 272,141
Construction in progress 361,381 2,491,432
Gross property, plant, and equipment, at cost 15,851,992 14,364,634
Less accumulated depreciation (6,691,206) (6,407,304)
Net property, plant, and equipment, at cost 9,160,786 7,957,330
INTANGIBLE ASSETS, less accumulated amortization of $136,113 in 2016 and $123,957 in 2015 346,335 336,096
Total assets 18,006,956 15,015,317
CURRENT LIABILITIES:    
Current portion of long-term debt 125,529  
Accounts payable - Trade 510,715 420,245
Accounts payable - Construction 60,166 333,339
Accrued compensation 308,707 350,518
Other accrued liabilities 118,025 31,000
Total current liabilities 1,123,142 1,135,102
LONG-TERM LIABILITIES    
Long-term debt less current portion 3,141,424  
Deferred income taxes 385,000 385,000
Total long-term liabilities 3,526,424 385,000
Total liabilities 4,649,566 1,520,102
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:    
Preferred stock, par value $.10 per share; authorized 250,000 shares: issued none
Common stock, par value $.10 per share; authorized 4,750,000 shares; issued and outstanding 2,018,753 shares in 2016 and 2,018,253 in 2015 201,875 201,825
Additional paid-in capital 2,718,762 2,703,050
Retained earnings 10,436,753 10,590,340
Total stockholders' equity 13,357,390 13,495,215
Total liabilities and stockholders' equity $ 18,006,956 $ 15,015,317