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BALANCE SHEETS (USD $)
Sep. 30, 2011
Dec. 31, 2010
ASSETS  
Cash and cash equivalents$ 563,544$ 1,398,985
Short-term investments4,181,0003,227,000
Trade accounts receivable, net of allowance for doubtful accounts of $16,000 at September 30, 2011 and $13,000 at December 31, 2010420,923465,278
Income taxes receivable648948
Other receivables27,42931,287
Inventory1,756,8011,601,016
Prepaid expenses101,031241,191
Current portion of deferred tax asset45,5160
Total current assets7,096,8926,965,705
NET PROPERTY, PLANT AND EQUIPMENT, at cost2,541,6402,710,891
LONG-TERM PORTION OF DEFERRED TAX ASSET1,320,4171,040,606
OTHER ASSETS, net19,72533,977
TOTAL ASSETS10,978,67410,751,179
LIABILITIES AND STOCKHOLDERS' EQUITY  
Accrued expenses331,398372,052
Accounts payable96,413105,739
Current portion of bank debt170,87442,384
Current portion of deferred tax liability04,843
Deferred revenue8,2500
Total current liabilities606,935525,018
LONG-TERM LIABILITIES:  
Long-term portion of bank debt1,312,184943,760
Interest rate swap65,1570
TOTAL LIABILITIES1,984,2761,468,778
STOCKHOLDERS' EQUITY:  
Common stock, Par value - $0.10 per share, Authorized - 8,000,000 shares, Issued - 3,261,148 shares at September 30, 2011 and December 31, 2010326,115326,115
Capital in excess of par value9,895,4749,780,392
Accumulated deficit(613,785)(204,805)
Treasury stock at cost - 262,496 shares at September 30, 2011 and 287,496 shares at December 31, 2010(574,242)(628,932)
Accumulated other comprehensive (loss) income - interest rate swap(39,164)9,631
Total stockholders' equity8,994,3989,282,401
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$ 10,978,674$ 10,751,179