Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.19.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 13,152,452 $ 11,056,426
Restricted cash 625,664  
Investments 4,000,974
Trade accounts receivable, less allowance for doubtful accounts of $153,000 and $136,000, respectively 10,907,395 13,401,042
Inventories 13,648,913 16,175,616
Prepaid income taxes 62,147 148,036
Other current assets 1,628,792 1,553,972
TOTAL CURRENT ASSETS 44,026,337 42,335,092
PROPERTY, PLANT AND EQUIPMENT, net 9,607,354 10,962,239
OTHER ASSETS:    
Deferred income taxes 19,068 19,068
Operating lease right of use asset 422,935  
Other assets, net   4,765
TOTAL OTHER ASSETS 442,003 23,833
TOTAL ASSETS 54,075,694 53,321,164
CURRENT LIABILITIES:    
Accounts payable 3,522,386 5,394,981
Accrued compensation and benefits 2,084,272 2,892,199
Operating lease liability 94,316  
Other accrued liabilities 3,015,352 3,168,049
Dividends payable 193,294 184,541
TOTAL CURRENT LIABILITIES 8,909,620 11,639,770
LONG TERM LIABILITIES:    
Long-term compensation plans 78,941  
Uncertain tax positions   28,267
Operating lease liability 313,690  
TOTAL LONG-TERM LIABILITIES 392,631 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; 9,316,576 and 9,158,438 shares issued and outstanding, respectively 465,829 457,922
Additional paid-in capital 43,176,179 42,680,499
Retained earnings (accumulated deficit) 1,901,373 (734,001)
Accumulated other comprehensive loss (769,938) (751,293)
TOTAL STOCKHOLDERS' EQUITY 44,773,443 41,653,127
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 54,075,694 $ 53,321,164