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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Jun. 30, 2014
CURRENT ASSETS:      
Cash $ 3,356,979 $ 7,788,010 $ 2,322,051
Accounts Receivable, Less, Allowances of $0 (06/30/15), $912,789 (12/31/14) and $0 (06/30/14) 1,268,723 3,046,669 890,095
Inventories:      
Raw Materials and Supplies 3,543,014 2,146,872 4,288,827
Work in Process 249,005 987,614 388,049
Finished Goods 8,689,330 4,350,423 9,374,993
Income Tax Asset 734,241 78,277 464,882
Deferred Income Tax Asset 277,291 277,291 330,198
Prepaid Expenses and Other Current Assets 501,577 306,951 612,057
Total Current Assets 18,620,160 18,982,107 18,671,152
Property, Plant and Equipment, Less, Accumulated Depreciation of $18,088,884 (06/30/15), $17,880,096 (12/31/14) and $17,636,702 (06/30/14) 3,763,656 3,473,829 3,663,021
Goodwill 413,280 413,280 413,280
Customer Base and Non-Compete Agreement 125,035 187,977 250,920
Other Assets 434,168 451,373 378,776
TOTAL ASSETS 23,356,299 23,508,566 23,377,149
CURRENT LIABILITIES:      
Short Term Debt 1,155,588 112,879 496,465
Accounts Payable 781,612 603,342 1,192,668
Accrued Liabilities 206,073 819,458 322,272
Total Current Liabilities 2,143,273 1,535,679 2,011,405
DEFERRED INCOME TAX LIABILITY 203,667 203,667 297,094
Total Liabilities 2,346,940 1,739,346 2,308,499
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 19,818,857 20,578,718 19,878,148
Treasury Stock, at Cost, 63,494 Shares (273,219) (273,219) (273,219)
Total Stockholders’ Equity 21,009,359 21,769,220 21,068,650
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 23,356,299 $ 23,508,566 $ 23,377,149