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CONDENSED BALANCE SHEETS - USD ($)
Mar. 31, 2018
Dec. 31, 2017
CURRENT ASSETS:    
Cash and cash equivalents $ 1,162,188 $ 929,700
Short-term investments 2,675,000 2,895,000
Trade receivables, less allowances of $75,000 as of March 31, 2018 and $53,000 as of December 31, 2017 2,031,907 2,190,260
Inventories 2,368,831 2,086,065
Prepaid expenses and other assets 193,828 168,242
Income taxes receivable 42,738 2,116
Total current assets 8,474,492 8,271,383
PROPERTY, PLANT, AND EQUIPMENT, at cost:    
Land and building 9,218,220 9,207,790
Machinery and equipment 5,001,384 4,968,595
Office equipment 1,578,976 1,573,191
Vehicles 245,679 245,679
Gross property, plant, and equipment, at cost 16,044,259 15,995,255
Less accumulated depreciation (7,893,500) (7,693,594)
Total property, plant, and equipment, at cost 8,150,759 8,301,661
INTANGIBLE ASSETS, less accumulated amortization of $181,470 as of March 31, 2018 and $174,991 as of December 31, 2017 360,278 351,186
Total assets 16,985,529 16,924,230
CURRENT LIABILITIES:    
Current portion of long-term debt, net 131,797 130,899
Accounts payable 608,689 321,860
Accrued compensation 232,690 360,554
Other accrued liabilities 112,478 62,468
Total current liabilities 1,085,654 875,781
LONG-TERM LIABILITIES    
Long-term debt, less current portion, net 2,912,950 2,946,518
Deferred income taxes 156,839 144,000
Total long-term liabilities 3,069,789 3,090,518
Total liabilities 4,155,443 3,966,299
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:    
Preferred stock, par value $.10 per share; authorized 250,000 shares: none issued
Common stock, par value $.10 per share; authorized 4,750,000 shares; issued and outstanding 1,983,553 shares as of March 31, 2018 and December 31, 2017 198,355 198,355
Additional paid-in capital 2,712,283 2,709,390
Retained earnings 9,919,448 10,050,186
Total stockholders' equity 12,830,086 12,957,931
Total liabilities and stockholders' equity $ 16,985,529 $ 16,924,230