Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 14,884,643 $ 13,092,484
Investments 1,705,035 2,759,024
Trade accounts receivable, less allowance for doubtful accounts of $153,000 and $121,000, respectively 8,729,795 10,177,445
Inventories, net 7,931,875 8,696,880
Prepaid income taxes 17,388 35,948
Other current assets 857,520 996,472
TOTAL CURRENT ASSETS 34,126,256 35,758,253
PROPERTY, PLANT AND EQUIPMENT, net 6,955,565 7,242,072
OTHER ASSETS:    
Investments 5,795,340 7,109,212
Goodwill 2,086,393 2,086,393
Operating lease right of use asset 311,746 413,415
Intangible assets, net 2,551,052 2,775,361
Other assets, net 170,980 171,619
TOTAL OTHER ASSETS 10,915,511 12,556,000
TOTAL ASSETS 51,997,332 55,556,325
CURRENT LIABILITIES:    
Accounts payable 3,618,279 2,378,449
Accrued compensation and benefits 1,706,396 2,298,075
Operating lease liability 205,233 213,553
Other accrued liabilities 1,396,480 1,524,515
Accrued consideration   550,000
Dividends payable 4,849 16,147
Deferred revenue 607,539 456,912
TOTAL CURRENT LIABILITIES 7,538,776 7,437,651
LONG TERM LIABILITIES:    
Long-term compensation plans 73,407 116,460
Operating lease liability 97,174 197,308
Deferred revenue 399,156 310,179
TOTAL LONG-TERM LIABILITIES 569,737 623,947
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; 9,470,424 and 9,321,927 shares issued and outstanding, respectively 473,521 466,096
Additional paid-in capital 44,053,498 43,572,114
Retained earnings (accumulated deficit) (7,772) 4,135,284
Accumulated other comprehensive loss (630,428) (678,767)
TOTAL STOCKHOLDERS’ EQUITY 43,888,819 47,494,727
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 51,997,332 $ 55,556,325