Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.21.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 13,092,484 $ 13,928,504
Restricted cash   679,006
Investments 2,759,024 9,449,650
Trade accounts receivable, less allowance for doubtful accounts of $121,000 and $154,000, respectively 10,177,445 10,242,405
Inventories 8,696,880 8,531,112
Prepaid income taxes 35,948 72,994
Other current assets 996,472 1,160,865
Current assets held for sale   5,337,274
TOTAL CURRENT ASSETS 35,758,253 49,401,810
PROPERTY, PLANT AND EQUIPMENT, net 7,242,072 8,238,089
OTHER ASSETS:    
Investments 7,109,212 250,000
Goodwill 2,086,393
Deferred income taxes   9,534
Right of use asset 413,415 367,909
Intangible assets 2,775,361  
Other assets 171,619  
Noncurrent assets held for sale   883,370
TOTAL OTHER ASSETS 12,556,000 1,510,813
TOTAL ASSETS 55,556,325 59,150,712
CURRENT LIABILITIES:    
Accounts payable 2,378,449 3,720,445
Accrued compensation and benefits 2,298,075 3,517,331
Operating lease liability 213,553 115,935
Other accrued liabilities 1,524,515 2,602,752
Accrued consideration 550,000  
Dividends payable 16,147 200,363
Deferred revenue 456,912  
Current liabilities held for sale   1,193,218
TOTAL CURRENT LIABILITIES 7,437,651 11,350,044
LONG TERM LIABILITIES:    
Long-term compensation plans 116,460 164,348
Operating lease liability 197,308 244,038
Deferred revenue 310,179  
TOTAL LONG-TERM LIABILITIES 623,947 408,386
COMMITMENTS AND CONTINGENCIES (Footnote 10)
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; 9,321,927 and 9,252,749 shares issued and outstanding, respectively 466,096 462,637
Additional paid-in capital 43,572,114 42,977,914
Retained earnings 4,135,284 4,649,395
Accumulated other comprehensive loss (678,767) (697,664)
TOTAL STOCKHOLDERS' EQUITY 47,494,727 47,392,282
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 55,556,325 $ 59,150,712