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Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 3,758,232 $ 978,741
Trade accounts receivable 3,771,133 2,185,383
Inventory 7,112,623 7,811,841
Prepaid expenses and other current assets 400,762 493,885
Total current assets 15,042,750 11,469,850
Property, plant and equipment, net 25,349,019 27,575,683
Operating lease right-of-use asset 4,560,679 4,571,149
Goodwill 95,557 95,557
Intangible assets, net 19,104 38,208
Other assets 33,368 57,655
TOTAL ASSETS 45,100,477 43,808,102
CURRENT LIABILITIES:    
Current portion of debt obligations 1,497,619 1,428,807
Current portion of operating lease liability 432,072 644,276
Accounts payable and accrued expenses 2,482,522 2,124,337
Total current liabilities 4,412,213 4,197,420
LONG-TERM LIABILITIES:    
Debt obligations, net of current portion 9,040,975 10,540,496
Operating lease liability, net of current portion 4,129,102 4,077,109
Total long-term liabilities 13,170,077 14,617,605
TOTAL LIABILITIES 17,582,290 18,815,025
CONTINGENT LIABILITIES AND COMMITMENTS
STOCKHOLDERS’ EQUITY:    
Common stock, $0.10 par value per share, with 15,000,000 shares authorized and 9,042,392 and 7,814,165 shares issued and 8,979,091 and 7,750,864 shares outstanding as of December 31, 2024 and 2023, respectively 904,240 781,417
Additional paid-in capital 40,916,155 36,357,239
Accumulated deficit (14,163,726) (12,007,097)
Treasury stock, at cost, 63,301 shares as of both December 31, 2024 and 2023 (138,482) (138,482)
Total stockholders’ equity 27,518,187 24,993,077
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 45,100,477 $ 43,808,102