XML 21 R2.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 1,543,267 $ 1,647,175
Accounts receivable less allowance for doubtful accounts 21,014,148 19,671,833
Contract assets 5,470,698 4,822,347
Inventories 18,278,179 17,672,622
Investments 0 665,301
Refundable tax asset 1,728,754 0
Prepaid expenses and other current assets 1,575,240 1,303,780
Total Current Assets 49,610,286 45,783,058
Property, plant and equipment, net 23,179,580 14,686,190
Operating right of use asset, net 6,950,547 8,356,903
OTHER ASSETS:    
Goodwill 18,547,704 16,453,049
Intangibles, net of accumulated amortization 10,285,781 8,252,600
Other non-current assets 94,798 107,798
Total Non-Current Assets 28,928,283 24,813,447
Total Assets 108,668,696 93,639,598
CURRENT LIABILITIES:    
Notes payable – current 470,209 824,226
Real property term loan – current 141,816 0
Accounts payable 12,856,158 11,168,308
Unearned revenue 6,195,473 5,596,706
Accrued income taxes 0 539,876
Accrued expenses 3,542,490 3,292,787
Operating lease liabilities - current 1,414,686 1,714,174
Total Current Liabilities 24,620,832 23,136,077
LONG-TERM LIABILITIES:    
Notes payable - related party 0 470,209
Revolving credit facility 0 5,096,672
Real property term loan 5,559,755 0
Operating lease liabilities - noncurrent 5,747,295 6,901,043
Deferred income taxes 391,060 310,250
Total Long-Term Liabilities 11,698,110 12,778,174
STOCKHOLDERS' EQUITY    
Contributed capital 1,741,901 1,741,901
Treasury shares (2,549,627) (2,237,026)
Retained earnings 61,473,932 47,875,964
Total Stockholders' Equity 72,349,754 57,725,347
Total Liabilities and Stockholders' Equity 108,668,696 93,639,598
Common Class A [Member]    
STOCKHOLDERS' EQUITY    
Common stock value 10,218,026 8,878,986
Common Class B [Member]    
STOCKHOLDERS' EQUITY    
Common stock value $ 1,465,522 $ 1,465,522