Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.19.3
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 14,621,921 $ 11,056,426
Restricted cash 677,269  
Investments 5,502,752
Trade accounts receivable, less allowance for doubtful accounts of $178,000 and $136,000, respectively 12,950,442 13,401,042
Inventories 12,586,500 16,175,616
Prepaid income taxes 82,275 148,036
Other current assets 1,568,326 1,553,972
TOTAL CURRENT ASSETS 47,989,485 42,335,092
PROPERTY, PLANT AND EQUIPMENT, net 9,303,323 10,962,239
OTHER ASSETS:    
Deferred income taxes 19,068 19,068
Operating lease right of use asset 395,574  
Other assets, net   4,765
TOTAL OTHER ASSETS 414,642 23,833
TOTAL ASSETS 57,707,450 53,321,164
CURRENT LIABILITIES:    
Accounts payable 4,510,344 5,394,981
Accrued compensation and benefits 2,934,110 2,892,199
Operating lease liability 109,354  
Other accrued liabilities 3,344,177 3,168,049
Dividends payable 197,220 184,541
TOTAL CURRENT LIABILITIES 11,095,205 11,639,770
LONG TERM LIABILITIES:    
Long-term compensation plans 90,642  
Uncertain tax positions   28,267
Operating lease liability 265,192  
TOTAL LONG-TERM LIABILITIES 355,834 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; 9,308,820 and 9,158,438 shares issued and outstanding, respectively 465,441 457,922
Additional paid-in capital 43,189,025 42,680,499
Retained earnings (accumulated deficit) 3,435,845 (734,001)
Accumulated other comprehensive loss (833,900) (751,293)
TOTAL STOCKHOLDERS' EQUITY 46,256,411 41,653,127
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 57,707,450 $ 53,321,164