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BALANCE SHEETS (USD $)
Dec. 31, 2011
Dec. 31, 2010
ASSETS    
Cash and cash equivalents $ 781,516 $ 1,398,985
Short-term investments 4,178,000 3,227,000
Trade accounts receivable, net of allowance for doubtful accounts of $16,000 and $13,000 at December 31, 2011 and 2010, respectively 346,447 465,278
Income taxes receivable 648 948
Other receivables 36,701 31,287
Inventory 1,666,465 1,601,016
Current portion of deferred tax asset 59,016 0
Prepaid expenses 81,807 241,191
Total current assets 7,150,600 6,965,705
NET PROPERTY, PLANT AND EQUIPMENT, at cost 2,515,331 2,710,891
LONG-TERM PORTION OF DEFERRED TAX ASSET 1,306,335 1,040,606
OTHER ASSETS, net 19,006 33,977
TOTAL ASSETS 10,991,272 10,751,179
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accrued expenses 303,900 372,052
Accounts payable 149,877 105,739
Current portion of bank debt 172,973 42,384
Deferred revenue 8,250 0
Current portion of deferred tax liability 0 4,843
Total current liabilities 635,000 525,018
LONG-TERM LIABILITIES:    
Long-term portion of bank debt 1,267,939 943,760
Interest rate swap 67,900 0
Total long-term liabilities 1,335,839 943,760
TOTAL LIABILITIES 1,970,839 1,468,778
STOCKHOLDERS' EQUITY:    
Common stock, $0.10 par value per share, 8,000,000 shares authorized, 3,261,148 shares issued at December 31, 2011 and 2010 326,115 326,115
Capital in excess of par value 9,911,914 9,780,392
Accumulated deficit (614,315) (204,805)
Treasury stock, at cost, 257,114 and 287,496 shares at December 31, 2011 and 2010, respectively (562,469) (628,932)
Accumulated other comprehensive (loss) income: interest rate swap (40,812) 9,631
Total stockholders' equity 9,020,433 9,282,401
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 10,991,272 $ 10,751,179