XML 50 R2.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 503 $ 1,715
Trade accounts receivable, net of allowance for doubtful accounts of $39,169 at December 31, 2019 and $40,000 at December 31, 2018 2,152,254 2,325,804
Inventories 2,468,648 3,685,059
Assets held for sale, net 0 688,750
Prepaid expenses and other current assets 257,859 389,390
Total current assets 4,879,264 7,090,718
Property, plant and equipment, net 3,801,916 5,131,773
Intangible assets, net 47,509 53,155
Other assets 5,645 5,140
Total assets 8,734,334 12,280,786
Current liabilities:    
Revolving line of credit 1,274,299 2,025,592
Term notes payable, current portion, net 3,557,458 389,420
Accounts payable 841,068 1,200,298
Accrued expenses and other current liabilities 383,836 459,108
Contract liabilities, current portion 5,472 560,802
Total current liabilities 6,062,133 4,635,220
Long-term liabilities:    
Term notes payable, non-current portion, net 0 3,557,458
Subordinated promissory notes, net 470,152 0
Total long-term liabilities 470,152 3,557,458
Total liabilities 6,532,285 8,192,678
Commitments and Contingencies
Shareholders' equity:    
Preferred stock, $0.001 par value; 2,000,000 shares authorized, none issued 0 0
Common stock, $0.01 par value; 10,000,000 shares authorized; 3,926,491 issued, 2,906,609 outstanding at December 31, 2019 and 3,926,491 issued, 2,861,008 outstanding at December 31, 2018 39,265 39,265
Additional paid-in-capital 11,735,457 11,604,817
Treasury stock at cost, 1,019,882 shares at December 31, 2019 and 1,065,483 shares at December 31, 2018 (2,783,055) (2,907,490)
Accumulated deficit (6,789,618) (4,648,484)
Total shareholders’ equity 2,202,049 4,088,108
Total liabilities and shareholders’ equity $ 8,734,334 $ 12,280,786