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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Mar. 31, 2015
CURRENT ASSETS:      
Cash $ 6,830,927 $ 8,791,938 $ 6,236,530
Accounts Receivable, Less, Allowances of $0 (03/31/16), $1,066,314 (12/31/15) and $0 (03/31/15) 1,619,055 2,182,306 1,883,449
Inventories:      
Raw Materials 7,630,291 5,114,439 5,783,480
Work in Process 12,146 785,711 55,877
Supplies 161,258 161,258 168,275
Finished Goods 2,489,151 2,118,261 3,020,702
Income Tax Receivable 271,004 76,290 390,931
Deferred Income Tax Asset 241,834 241,834 277,291
Prepaid Expenses and Other Current Assets 141,601 318,250 169,431
Total Current Assets 19,397,267 19,790,287 17,985,966
Property, Plant and Equipment, Less, Accumulated Depreciation of $18,397,189 (03/31/16), $18,294,592 (12/31/15) and $17,983,131 (03/31/15) 4,006,193 3,924,480 3,815,270
Goodwill 413,280 413,280 413,280
Customer Base and Non-Compete Agreement 28,732 62,092 156,506
Other Assets 352,538 392,426 371,090
TOTAL ASSETS 24,198,010 24,582,565 22,742,112
CURRENT LIABILITIES:      
Short Term Debt 702,801 582,839 212,724
Accounts Payable 948,384 615,928 795,123
Accrued Expenses 291,861 843,851 250,024
Total Current Liabilities 1,943,046 2,042,618 1,257,871
DEFERRED INCOME TAX LIABILITY 315,125 315,125 203,667
Total Liabilities 2,258,171 2,357,743 1,461,538
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 20,749,337 21,034,320 20,090,072
Treasury Stock, at Cost, 63,494 Shares (273,219) (273,219) (273,219)
Total Stockholders’ Equity 21,939,839 22,224,822 21,280,574
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 24,198,010 $ 24,582,565 $ 22,742,112