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Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current Assets    
Cash and cash equivalents $ 8,100,288 $ 12,484,256
Investment in debt securities 7,389,407 2,892,190
Accounts receivable, net 14,011,180 13,145,934
Inventories 2,997,120 1,628,817
Prepaid and other current assets 1,505,175 1,750,994
Total Current Assets 34,003,170 31,902,191
Property and Equipment, Net 1,082,428 891,029
Patent Rights, Net 337,351 433,737
Deposits 101,561 24,272
Operating Lease Right-of-Use Assets, Net 1,400,037
Total Assets 36,924,547 33,251,229
Current Liabilities    
Accounts payable and accrued expenses 4,779,435 5,166,239
Deferred revenue, current portion 1,191,898 722,025
Operating lease liabilities, current portion 309,524
Product warranties 187,454 136,217
Total Current Liabilities 6,468,311 6,024,481
Operating Lease Liabilities 1,115,529
Deferred Revenue, Net of Current Portion 1,339,285 766,732
Total Liabilities 8,923,125 6,791,213
Stockholders' Equity    
Preferred stock, 5,000,000 shares authorized and none issued and outstanding
Common stock, $0.01 par value - 50,000,000 authorized; 16,540,478 issued and 16,485,780 outstanding at December 31, 2019; 16,145,915 issued and 16,112,461 outstanding at December 31, 2018 165,404 161,459
Additional paid-in capital 43,314,123 39,957,905
Treasury stock, 54,698 and 33,454 shares at cost, at December 31, 2019 and 2018, respectively (252,570) (133,816)
Accumulated deficit (15,225,535) (13,525,532)
Total Stockholders' Equity 28,001,422 26,460,016
Total Liabilities and Stockholders' Equity $ 36,924,547 $ 33,251,229