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Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash and cash equivalents $ 4,561,304 $ 1,573,328
Short-term investments 5,952,000 4,464,000
Accounts receivable, net 1,455,859 754,104
Inventory 980,901 870,207
Prepaid expenses and other assets 297,900 211,777
Total current assets 13,247,964 7,873,416
PROPERTY, PLANT AND EQUIPMENT, net 6,100,802 5,718,814
LONG-TERM INVESTMENTS 487,000 487,000
DEFERRED TAX ASSET 266,717 452,117
OTHER ASSETS, net 279,540 8,920
TOTAL ASSETS 20,382,023 14,540,267
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 761,736 662,165
Current portion of bank debt 128,610 130,780
Total current liabilities 890,346 792,945
LONG-TERM LIABILITIES:    
Long-term portion of bank debt 2,988,149 3,054,977
Interest rate swaps 180,203 78,525
Total long-term liabilities 3,168,352 3,133,502
TOTAL LIABILITIES 4,058,698 3,926,447
STOCKHOLDERS' EQUITY:    
Common stock, $0.10 par value per share, 8,000,000 shares authorized, 4,384,958 and 3,261,148 shares issued as of March 31, 2016 and December 31, 2015, respectively 438,496 326,115
Capital in excess of par value 15,359,940 10,150,190
Accumulated surplus 1,091,120 638,672
Treasury stock, at cost, 206,114 shares as of March 31, 2016 and December 31, 2015 (450,901) (450,901)
Accumulated other comprehensive loss (115,330) (50,256)
Total stockholders' equity 16,323,325 10,613,820
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 20,382,023 $ 14,540,267