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Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 992,460 $ 858,868
Receivables on government contracts 1,533,784 1,704,301
Prepaid expenses and other current assets 77,104 55,144
Total current assets 2,603,348 2,618,313
Property and equipment    
Equipment 113,478 95,693
Leasehold improvements 21,306
Furniture & fixtures 37,557 16,394
Less: accumulated depreciation (93,501) (86,436)
Property and equipment, net 78,840 25,651
Intangible assets 133,625 128,916
Less: accumulated amortization (43,524) (32,947)
Intangible assets, net 90,101 95,969
Deferred tax assets 141,832 204,991
Total assets 2,914,121 2,944,924
Current liabilities:    
Accrued payroll and payroll taxes 516,856 460,434
Accounts payable and accrued expenses 292,068 338,872
Accrued warranty expense 240,980
Deferred revenue 25,000 7,500
Total current liabilities 833,924 1,047,786
Long-term liabilities 139,343 140,377
Total liabilities 973,267 1,188,163
Shareholders' equity:    
Preferred stock, convertible, par value $.01 per share, authorized 5,000,000 shares, none issued and outstanding
Common stock, par value $.01 per share, authorized 60,000,000 shares, issued and outstanding 35,546,775 and 35,424,775 shares, respectively 355,469 354,249
Capital in excess of par value 10,078,235 10,061,894
Accumulated deficit (8,492,850) (8,659,382)
Total shareholders' equity 1,940,854 1,756,761
Total liabilities and shareholders' equity $ 2,914,121 $ 2,944,924