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CONDENSED BALANCE SHEETS - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 12,849,614 $ 14,877,899
Accounts receivable, net 4,806,226 5,105,556
Inventories, net 7,787,340 6,206,161
Other current assets 415,338 418,154
Total current assets 25,858,518 26,607,770
Property, plant, and equipment, net 11,045,766 11,353,202
Income taxes receivable 188,456 188,456
Other assets 4,280 6,052
Total assets 37,097,020 38,155,480
Current liabilities:    
Accounts payable 4,802,532 4,957,750
Current portion of long-term debt 364,094 410,949
Accrued compensation 567,768 547,021
Dividends payable 55,113 55,113
Accrued royalties to shareholder 1,061,483 793,489
Insurance proceeds 315,387 466,293
Other accrued liabilities 1,093,526 657,923
Income taxes payable 11,617 11,407
Total current liabilities 8,271,520 7,899,945
Long-term debt, net of current maturities 2,888,589 3,081,409
Total liabilities 11,160,109 10,981,354
Commitments and contingencies - See Note 6
Preferred stock, $1 par value:    
Additional paid-in capital 61,981,981 62,092,206
Accumulated deficit (36,826,515) (35,699,525)
Total stockholders' equity 25,936,911 27,174,126
Total liabilities and stockholders' equity 37,097,020 38,155,480
Series I, Class B    
Preferred stock, $1 par value:    
Preferred stock 98,500 98,500
Series II, Class B    
Preferred stock, $1 par value:    
Preferred stock 171,200 171,200
Series III, Class B    
Preferred stock, $1 par value:    
Preferred stock 129,245 129,245
Series IV, Class B    
Preferred stock, $1 par value:    
Preferred stock 342,500 342,500
Series V, Class B    
Preferred stock, $1 par value:    
Preferred stock $ 40,000 $ 40,000