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Unaudited Condensed Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
CURRENT ASSETS:    
Cash and cash equivalents $ 4,252,020 $ 5,150,344
Short-term investments 2,978,355 5,474,013
Inventory 2,098,934 2,126,899
Accounts receivable, net 1,011,662 992,390
Prepaid expenses and other current assets 570,898 604,482
Total current assets 10,911,869 14,348,128
PROPERTY, PLANT AND EQUIPMENT, net 14,124,778 9,846,293
DEFERRED TAX ASSETS 201,003
INTANGIBLE ASSETS, net 167,160 171,936
GOODWILL 95,557 95,557
OTHER ASSETS, net 34,264 34,264
TOTAL ASSETS 25,333,628 24,697,181
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 1,620,291 1,891,763
Current portion of bank debt 142,057 133,269
Deferred revenue 33,856
Total current liabilities 1,762,348 2,058,888
LONG-TERM LIABILITIES:    
Bank debt, net of current portion 3,123,627 2,878,805
Deferred tax liabilities 57,574
Interest rate swaps 21,611 37,346
Total long-term liabilities 3,202,812 2,916,151
TOTAL LIABILITIES 4,965,160 4,975,039
CONTINGENT LIABILITIES AND COMMITMENTS (See Note 15)
STOCKHOLDERS' EQUITY:    
Common stock, $0.10 par value per share, 10,000,000 and 10,000,000 shares authorized, 5,044,838 and 5,044,838 shares issued and 4,848,390 and 4,847,390 shares outstanding, as of March 31, 2017 and December 31, 2016, respectively 504,484 504,484
Additional paid-in capital 18,576,209 18,526,383
Retained earnings 1,731,362 1,147,120
Treasury stock, at cost, 196,448 and 197,448 shares as of March 31, 2017 and December 31, 2016, respectively (429,756) (431,943)
Accumulated other comprehensive (loss) (13,831) (23,902)
Total stockholders' equity 20,368,468 19,722,142
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 25,333,628 $ 24,697,181