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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Feb. 28, 2013
May 31, 2012
Current Assets:    
Cash and cash equivalents $ 2,318,677 $ 1,077,342
Accounts receivable, less allowance for doubtful accounts of $112,058 and $113,191 as of February 28, 2013 and May 31, 2012, respectively 513,310 [1] 1,200,516 [2]
Inventories, net 1,705,238 1,821,072
Prepaid expenses and other 224,248 210,700
Deferred tax assets, current portion 177,000 177,000
Total current assets 4,938,473 4,486,630
Property and Equipment, net of accumulated depreciation and amortization of $987,167 and $844,684 as of February 28, 2013 and May 31, 2012, respectively 691,750 [3] 584,824 [4]
Deferred Tax Assets, net of current portion 61,000 61,000
Investments 165,324 165,324
Intangible Assets, net 172,656 194,583
Other Assets 81,328 78,561
Total Assets 6,110,531 5,570,922
Current Liabilities:    
Accounts payable and accrued expenses 366,389 362,447
Accrued compensation 217,711 186,841
Line of credit   43,000
Total current liabilities 584,100 592,288
Commitments and Contingencies (Note 5)      
Shareholders' Equity:    
Preferred stock, no par value authorized 5,000,000 shares, none issued and none outstanding at February 28, 2013 and May 31, 2012    [5]    [6]
Common stock, $0.08 par value authorized 25,000,000 shares, issued and outstanding 7,050,214 and 6,952,339 at February 28, 2013 and May 31, 2012, respectively 564,016 [7] 556,186 [8]
Additional paid-in-capital 17,787,546 17,737,807
Accumulated other comprehensive loss (8,739) (6,030)
Accumulated deficit (12,816,392) (13,309,329)
Total Shareholders' Equity 5,526,431 4,978,634
Total Liabilities and Shareholders' Equity $ 6,110,531 $ 5,570,922
[1] less allowance for doubtful accounts of $112,058 of February 28, 2013.
[2] less allowance for doubtful accounts of $113,191 as of May 31, 2012.
[3] net of accumulated depreciation and amortization of $987,167 as of February 28, 2013.
[4] net of accumulated depreciation and amortization of $712,176 as of May 31, 2012.
[5] no par value authorized 5,000,000 shares, none issued and none outstanding at February 28, 2013.
[6] no par value authorized 5,000,000 shares, none issued and none outstanding at May 31, 2012.
[7] $0.08 par value authorized 25,000,000 shares, issued and outstanding 7,050,214 at February 28, 2013.
[8] $0.08 par value authorized 25,000,000 shares, issued and outstanding 6,952,339 at May 31, 2012.