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Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 1,918,570 $ 6,309,269
Restricted cash 296,314 176,193
Accounts receivable 1,681,289 823,793
Inventories, net 4,783,887 2,341,360
Prepaid expenses and other current assets 377,762 233,566
Total current assets 9,057,822 9,884,181
Property and equipment, at cost:    
Land 896,388 896,388
Building 4,516,301 4,516,301
Machinery and equipment 7,479,790 7,136,578
Property, plant and equipment, gross 12,892,479 12,549,267
Less accumulated depreciation (8,282,269) (7,936,056)
Net property and equipment 4,610,210 4,613,211
Patent costs, net of accumulated amortization of $972,553 and $953,491, respectively 260,021 222,461
Trademark costs, net of accumulated amortization of $89,877 and $85,381, respectively 85,964 90,460
Restricted cash   323,863
Total assets 14,014,017 15,134,176
Current liabilities:    
Accounts payable 2,995,632 948,875
Unearned revenue 736,819 153,944
Other current liabilities 1,394,150 819,839
Deferred contract liability 110,727 199,160
Current debt, net of deferred financing costs of $7,772 and $0, respectively 4,656,757  
Total current liabilities 9,894,085 2,121,818
Long-term debt, net of deferred financing costs of $0 and $45,079   3,119,450
Other long-term liabilities 106,159 121,667
Total long-term liabilities 106,159 3,241,117
Total liabilities 10,000,244 5,362,935
Commitments and contingencies (Note 9)
Stockholders’ equity:    
Common stock, $0.01 par value, 175,000,000 shares authorized; 54,267,440 and 54,108,510 shares issued and outstanding, respectively 542,674 541,085
Additional paid-in capital 134,645,911 133,901,406
Accumulated deficit (131,174,812) (124,671,250)
Total stockholders’ equity 4,013,773 9,771,241
Total liabilities and stockholders’ equity $ 14,014,017 $ 15,134,176