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Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
CURRENT ASSETS:    
Cash and cash equivalents $ 1,573,328 $ 850,028
Short-term investments 4,464,000 2,489,000
Inventory 870,207 945,755
Accounts receivable, net 754,104 1,005,292
Prepaid expenses and other assets 211,777 148,399
Current portion of deferred tax asset 0 30,463
Total current assets 7,873,416 5,468,937
PROPERTY, PLANT AND EQUIPMENT, net 5,718,814 3,837,647
LONG-TERM INVESTMENTS 487,000 496,000
LONG-TERM PORTION OF DEFERRED TAX ASSET 471,705 1,230,340
OTHER ASSETS, net 49,712 18,930
TOTAL ASSETS 14,600,647 11,051,854
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 662,165 851,677
Current portion of bank debt 135,840 150,382
Deferred tax liability - current 19,588 0
Deferred revenue 0 6,690
Total current liabilities 817,593 1,008,749
LONG-TERM LIABILITIES:    
Long-term portion of bank debt 3,090,709 745,920
Interest rate swap 78,525 38,817
Total long-term liabilities 3,169,234 784,737
TOTAL LIABILITIES 3,986,827 1,793,486
STOCKHOLDERS' EQUITY:    
Common stock, $0.10 par value per share, 8,000,000 shares authorized, 3,261,148 shares issued at December 31, 2015 and 2014 326,115 326,115
Capital in excess of par value 10,150,190 10,042,305
Accumulated surplus (deficit) 638,672 (574,567)
Treasury stock, at cost, 206,114 and 234,114 shares at December 31, 2015 and 2014, respectively (450,901) (512,154)
Accumulated other comprehensive loss (50,256) (23,331)
Total stockholders' equity 10,613,820 9,258,368
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 14,600,647 $ 11,051,854