Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 14,747,054 $ 13,092,484
Investments 693,424 2,759,024
Trade accounts receivable, less allowance for doubtful accounts of $137,000 and $121,000, respectively 8,673,414 10,177,445
Inventories 8,218,822 8,696,880
Prepaid income taxes   35,948
Other current assets 1,330,487 996,472
TOTAL CURRENT ASSETS 33,663,201 35,758,253
PROPERTY, PLANT AND EQUIPMENT, net 7,088,892 7,242,072
OTHER ASSETS:    
Investments 7,064,665 7,109,212
Goodwill 2,086,393 2,086,393
Operating lease right of use asset 362,812 413,415
Intangible assets, net 2,661,541 2,775,361
Other assets, net 180,734 171,619
TOTAL OTHER ASSETS 12,356,145 12,556,000
TOTAL ASSETS 53,108,238 55,556,325
CURRENT LIABILITIES:    
Accounts payable 2,685,775 2,378,449
Accrued compensation and benefits 1,776,982 2,298,075
Operating lease liability 217,133 213,553
Other accrued liabilities 1,440,107 1,524,515
Accrued consideration   550,000
Income taxes payable 2,225  
Dividends payable 5,387 16,147
Deferred revenue 589,444 456,912
TOTAL CURRENT LIABILITIES 6,717,053 7,437,651
LONG TERM LIABILITIES:    
Long-term compensation plans 142,835 116,460
Operating lease liability 140,105 197,308
Deferred revenue 386,314 310,179
TOTAL LONG-TERM LIABILITIES 669,254 623,947
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; 9,448,129 and 9,321,927 shares issued and outstanding, respectively 472,406 466,096
Additional paid-in capital 43,969,776 43,572,114
Retained earnings 1,948,084 4,135,284
Accumulated other comprehensive loss (668,335) (678,767)
TOTAL STOCKHOLDERS' EQUITY 45,721,931 47,494,727
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 53,108,238 $ 55,556,325