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Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current Assets    
Cash and cash equivalents $ 13,073,331 $ 11,966,863
Accounts receivable, net 3,091,251 6,463,050
Costs and estimated earnings in excess of billings on contracts in progress 4,635,018 2,498,662
Inventories, net 2,986,430 4,842,059
Restricted cash 200,000 200,000
Deferred income taxes 398,009 2,887,960
Other current assets 167,056 194,756
Total Current Assets 24,551,095 29,053,350
Property, plant and equipment, net 14,793,923 15,025,283
Construction in progress 33,306 389,276
Deferred income taxes $ 1,606,830 750,133
Restricted cash-long-term 200,000
Other assets $ 86,215 82,559
Intangible assets, net 60,335 55,871
Total Assets 42,806,204 45,556,472
Current Liabilities    
Accounts payable 308,004 1,682,838
Accrued expenses 3,445,880 3,297,052
Current maturities of long-term debt $ 580,000 720,000
Billings in excess of costs and estimated earnings on contracts in progress 1,328,508
Deferred revenue $ 307,683 488,691
Accrued litigation settlement 4,925,000
Total Current Liabilities $ 4,641,567 12,442,089
Long-term debt, net of current portion 3,265,508 3,845,508
Total Liabilities $ 7,907,075 $ 16,287,597
Commitments and Contingencies (Note 16)
Stockholders’ Equity:    
Common stock - $0.01 par value – 10,000,000 shares authorized: issued and outstanding, 6,198,135 shares at December 31, 2015 and 6,162,027 shares at December 31, 2014 $ 61,981 $ 61,620
Additional paid-in capital 22,895,202 22,144,805
Retained earnings 10,267,446 7,062,450
Total Stockholders’ Equity 33,224,629 29,268,875
Total Liabilities and Stockholders’ Equity $ 41,131,704 $ 45,556,472