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Unaudited Condensed Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash and cash equivalents $ 4,408,415 $ 1,573,328
Short-term investments 5,199,000 4,464,000
Accounts receivable, net 677,155 718,103
Inventory 1,766,396 870,207
Prepaid expenses and other current assets 693,461 256,698
Total current assets 12,744,427 7,882,336
PROPERTY, PLANT AND EQUIPMENT, net 7,238,391 5,718,814
LONG-TERM INVESTMENTS 0 487,000
DEFERRED TAX ASSET 290,074 452,117
INTANGIBLE ASSETS, NET 175,731 0
GOODWILL 95,557 0
OTHER ASSETS, NET 34,264 0
TOTAL ASSETS 20,578,444 14,540,267
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 888,857 662,165
Current portion of bank debt 131,397 130,780
Deferred revenue 33,856 0
Total current liabilities 1,054,110 792,945
LONG-TERM LIABILITIES:    
Bank debt, net of current portion 2,913,448 3,054,977
Interest rate swaps 203,160 78,525
Total long-term liabilities 3,116,608 3,133,502
TOTAL LIABILITIES 4,170,718 3,926,447
CONTINGENT LIABILITIES AND COMMITMENTS (See Note 15)
STOCKHOLDERS' EQUITY:    
Common stock, $0.10 par value per share, 10,000,000 and 8,000,000 shares authorized, 4,384,958 and 3,261,148 shares issued, as of September 30, 2016 and December 31, 2015, respectively 438,496 326,115
Additional paid-in capital 15,414,361 10,150,190
Retained earnings 1,116,835 638,672
Treasury stock, at cost, 197,448 and 206,114 shares as of September 30, 2016 and December 31, 2015, respectively (431,943) (450,901)
Accumulated other comprehensive loss (130,023) (50,256)
Total stockholders' equity 16,407,726 10,613,820
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 20,578,444 $ 14,540,267