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BALANCE SHEETS (USD $)
Jun. 30, 2011
Dec. 31, 2010
ASSETS    
Cash and cash equivalents $ 891,247 $ 1,398,985
Short-term investments 4,184,000 3,227,000
Trade accounts receivable, net of allowance for - doubtful accounts of $15,000 at June 30, 2011 - and $13,000 at December 31, 2010 487,644 465,278
Income taxes receivable 648 948
Other receivables 31,465 31,287
Inventory 1,638,795 1,601,016
Prepaid expenses 168,199 241,191
Current portion of deferred tax asset 13,376 0
Total current assets 7,415,374 6,965,705
NET PROPERTY, PLANT AND EQUIPMENT, at cost 2,617,451 2,710,891
LONG-TERM PORTION OF DEFERRED TAX ASSET 1,238,598 1,040,606
OTHER ASSETS, net 17,227 33,977
TOTAL ASSETS 11,288,650 10,751,179
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accrued expenses 652,882 372,052
Accounts payable 58,484 105,739
Current portion of bank debt 168,868 42,384
Current portion of deferred tax liability 0 4,843
Deferred revenue 8,250 0
Total current liabilities 888,484 525,018
LONG-TERM LIABILITY:    
Long-term portion of bank debt 1,355,529 943,760
TOTAL LIABILITIES 2,244,013 1,468,778
STOCKHOLDERS' EQUITY:    
Common stock, Par value - $0.10 per share, Authorized - 8,000,000 shares, Issued - 3,261,148 shares at June 30, 2011 and December 31, 2010 326,115 326,115
Capital in excess of par value 9,820,589 9,780,392
Accumulated deficit (486,136) (204,805)
Treasury stock at cost - 280,496 shares at June 30, 2011 and 287,496 shares at December 31, 2010 (613,619) (628,932)
Accumulated other comprehensive income (Loss) - interest rate swap (2,312) 9,631
Total stockholders' equity 9,044,637 9,282,401
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 11,288,650 $ 10,751,179