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CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2014
Dec. 31, 2013
Jun. 30, 2013
CURRENT ASSETS:      
Cash $ 2,322,051 $ 5,916,366 $ 963,849
Accounts Receivable, Less, Allowances of $0 (06/30/14), $897,546 (12/31/13) and $0 (06/30/13) 890,095 2,369,321 1,053,791
Inventories:      
Raw Materials and Supplies 4,288,827 1,971,689 4,657,655
Work in Process 388,049 993,061 463,835
Finished Goods 9,374,993 5,873,048 9,331,047
Income Tax Receivable 464,882 279,219 307,794
Deferred Income Tax Asset 330,198 330,198 316,067
Prepaid Expenses and Other Current Assets 612,057 304,812 566,129
Total Current Assets 18,671,152 18,037,714 17,660,167
Property, Plant and Equipment, Less, Accumulated Depreciation of $17,636,702 (06/30/14), $17,410,823 (12/31/13) and $18,685,992 (06/30/13) 3,663,021 3,816,928 3,939,420
Goodwill 413,280 413,280 413,280
Customer Base and Non-Compete Agreement 250,920 313,862 376,805
Other Assets 378,776 283,979 322,471
TOTAL ASSETS 23,377,149 22,865,763 22,712,143
CURRENT LIABILITIES:      
Short Term Debt 496,465 0 561,826
Accounts Payable 1,192,668 308,319 1,207,128
Accrued Liabilities 322,272 923,540 383,556
Total Current Liabilities 2,011,405 1,231,859 2,152,510
DEFERRED INCOME TAX LIABILITY 297,094 297,094 272,063
Total Liabilities 2,308,499 1,528,953 2,424,573
STOCKHOLDERS' EQUITY:      
Common Stock: $0.30 Par Value, 2,000,000 Shares Authorized, 583,094 Shares Issued, 519,600 Shares Outstanding 174,928 174,928 174,928
Capital in Excess of Par Value 1,288,793 1,288,793 1,288,793
Retained Earnings 19,878,148 20,146,308 19,097,068
Treasury Stock, at Cost,63,494 Shares (273,219) (273,219) (273,219)
Total Stockholders' Equity 21,068,650 21,336,810 20,287,570
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 23,377,149 $ 22,865,763 $ 22,712,143