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BALANCE SHEETS (USD $)
Jun. 30, 2012
Dec. 31, 2011
ASSETS    
Cash and cash equivalents $ 1,033,768 $ 781,516
Short-term investments 3,980,000 4,178,000
Trade accounts receivable, net of allowance for doubtful accounts of $14,000 at June 30, 2012 and $16,000 at December 31, 2011 357,803 346,447
Income taxes receivable 648 648
Other receivables 31,613 36,701
Inventory 1,666,274 1,666,465
Prepaid expenses 181,121 81,807
Current portion of deferred tax asset 19,213 59,016
Total current assets 7,270,440 7,150,600
NET PROPERTY, PLANT AND EQUIPMENT, at cost 2,518,216 2,515,331
LONG-TERM PORTION OF DEFERRED TAX ASSET 1,231,005 1,306,335
OTHER ASSETS, net 17,368 19,006
TOTAL ASSETS 11,037,029 10,991,272
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accrued expenses 229,520 303,900
Accounts payable 112,450 149,877
Current portion of bank debt 177,231 172,973
Deferred revenue 0 8,250
Total current liabilities 519,201 635,000
LONG-TERM LIABILITIES:    
Long-term portion of bank debt 1,178,431 1,267,939
Interest rate swap 81,576 67,900
Total long-term liabilities 1,260,007 1,335,839
TOTAL LIABILITIES 1,779,208 1,970,839
STOCKHOLDERS' EQUITY:    
Common stock, $0.10 par value per share, 8,000,000 shares authorized, 3,261,148 shares issued at June 30, 2012 and December 31, 2011 326,115 326,115
Capital in excess of par value 9,954,759 9,911,914
Accumulated deficit (444,366) (614,315)
Treasury stock, at cost, 242,114 shares at June 30, 2012 and 257,114 shares at December 31, 2011 (529,655) (562,469)
Accumulated other comprehensive loss: interest rate swap (49,032) (40,812)
Total stockholders' equity 9,257,821 9,020,433
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 11,037,029 $ 10,991,272