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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2022
Dec. 31, 2021
ASSETS    
Cash and cash equivalents $ 13,270,853 $ 16,651,371
Accounts receivable, net 1,498,183 1,446,354
Contract assets 2,717,823 2,538,373
Inventories, net 1,737,901 1,225,015
Taxes Receivable 0 715,599
Other current assets 384,286 493,788
Total Current Assets 19,609,046 23,070,500
Property, plant and equipment, net 12,196,745 12,261,321
Intangible assets, net 191,316 182,838
Other assets 9,570 9,570
Total Assets 32,006,677 [1] 35,524,229
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Accounts payable 1,178,206 1,161,381
Accrued expenses 1,820,341 1,758,939
Current maturities of long-term debt 0 1,765,508
Contract Liabilities 720,385 1,650,426
Total Current Liabilities 3,718,932 6,336,254
Total Liabilities 3,718,932 6,336,254
Stockholders’ Equity:    
Common stock - $0.01 par value – 20,000,000 shares authorized; issued and outstanding 6,728,938 at March 31, 2022 and 6,723,438 at December 31, 2021 67,289 67,234
Additional paid-in capital 27,374,209 27,277,154
Retained earnings 846,247 1,843,587
Total Stockholders’ Equity 28,287,745 29,187,975
Total Liabilities and Stockholders’ Equity $ 32,006,677 $ 35,524,229
[1] All elimination entries represent intersegment revenues eliminated in consolidation for external financial reporting.