Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 13,928,504 $ 11,056,426
Restricted cash 679,006  
Investments 9,449,650
Trade accounts receivable, less allowance for doubtful accounts of $154,000 and $93,000, respectively 10,242,405 9,593,328
Inventories 8,531,112 11,998,638
Prepaid income taxes 72,994 148,036
Other current assets 1,160,865 1,462,691
Current assets held for sale 5,337,274 8,075,973
TOTAL CURRENT ASSETS 49,401,810 42,335,092
PROPERTY, PLANT AND EQUIPMENT, net 8,238,089 8,847,091
OTHER ASSETS:    
Investments 250,000  
Deferred income taxes 9,534 19,068
Right of use asset 367,909  
Other assets   4,765
Noncurrent assets held for sale 883,370 2,115,148
TOTAL OTHER ASSETS 1,510,813 2,138,981
TOTAL ASSETS 59,150,712 53,321,164
CURRENT LIABILITIES:    
Accounts payable 3,720,445 4,086,205
Accrued compensation and benefits 3,517,331 2,892,199
Lease liability 115,935  
Other accrued liabilities 2,602,752 3,096,694
Dividends payable 200,363 184,541
Current liabilities held for sale 1,193,218 1,380,131
TOTAL CURRENT LIABILITIES 11,350,044 11,639,770
LONG TERM LIABILITIES:    
Long-term compensation plans 164,348  
Uncertain tax positions   28,267
Lease liability 244,038  
TOTAL LONG-TERM LIABILITIES 408,386 28,267
COMMITMENTS AND CONTINGENCIES (Footnote 9)
STOCKHOLDERS' EQUITY    
Preferred stock, par value $1.00 per share; 3,000,000 shares authorized; none issued
Common stock, par value $.05 per share; 30,000,000 shares authorized; 9,252,749 and 9,158,438 shares issued and outstanding, respectively 462,637 457,922
Additional paid-in capital 42,977,914 42,680,499
Retained earnings (accumulated deficit) 4,649,395 (734,001)
Accumulated other comprehensive loss (697,664) (751,293)
TOTAL STOCKHOLDERS' EQUITY 47,392,282 41,653,127
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 59,150,712 $ 53,321,164