XML 36 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
BALANCE SHEETS (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current Assets    
Cash $ 622,727 $ 630,819
Accounts receivable    
Trade, less allowance for doubtful accounts of $15,000 and $45,000, respectively 632,011 439,627
Contract 0 12,427
Other 2,066 1,248
Inventories 1,709,740 815,075
Prepaid expenses 56,298 209,422
Total current assets 3,022,842 2,108,618
Property and Equipment, at cost    
Machinery and equipment 7,116,055 7,015,504
Furniture and fixtures 137,911 137,911
Leasehold improvements 317,870 317,870
Construction in progress 2,093 12,195
Property, Plant and Equipment, Gross 7,573,929 7,483,480
Less accumulated depreciation and amortization (4,781,362) (4,254,302)
Property, Plant and Equipment, Net 2,792,567 3,229,178
Other Assets    
Deposits 15,645 15,332
Deferred financing fees 29,104 38,543
Intangibles 11,059 12,889
Total other assets 55,808 66,764
TOTAL ASSETS 5,871,217 5,404,560
Current Liabilities    
Capital lease obligations, current portion 104,010 221,366
Notes payable, current portion 247,679 316,571
Accounts payable 456,111 260,531
Customer deposits 1,105,655 313,745
Accrued compensation 75,815 76,646
Accrued expenses and other 115,672 117,572
Total current liabilities 2,104,942 1,306,431
Capital lease obligations, net of current portion 132,739 163,331
Notes payable, net of current portion 908,787 1,057,104
Total liabilities 3,146,468 2,526,866
Commitments and contingencies      
Shareholders' Equity    
Common stock, no par value, authorized 15,000,000 shares; 3,852,898 and 3,826,898 shares issued and outstanding, respectively 9,833,620 9,800,100
Additional paid-in capital 1,835,387 1,758,358
Accumulated deficit (9,386,240) (9,098,594)
Total shareholders' equity 2,724,749 2,877,694
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 5,871,217 5,404,560
Convertible Preferred Stock Series B [Member]
   
Shareholders' Equity    
Convertible preferred stock, Series B, 10% cumulative, nonvoting, no par value, $10 stated value, optional redemption at 103%; optional shareholder conversion 2 shares for 1;24,152 shares issued and outstanding $ 441,982 $ 417,830