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Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS:    
Cash and cash equivalents $ 2,521,050 $ 3,798,811
Trade accounts receivable, net 932,298 1,344,022
Inventory 2,331,671 2,049,732
Prepaid expenses and other current assets 635,817 314,667
Total current assets 6,420,836 7,507,232
PROPERTY, PLANT AND EQUIPMENT, net 26,027,549 26,069,689
DEFERRED TAX ASSETS, net 472,726
INTANGIBLE ASSETS, net 133,728 152,832
GOODWILL 95,557 95,557
INTEREST RATE SWAPS 40,209
OTHER ASSETS 12,953 920
TOTAL ASSETS 32,730,832 34,298,956
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 1,220,660 1,723,270
Current portion of bank debt 844,351 316,629
Line of credit 500,000
Deferred revenue 24,100
Total current liabilities 2,565,011 2,063,999
LONG-TERM LIABILITIES:    
Bank debt, net of current portion 8,421,487 8,639,021
Interest rate swaps 996
Total long-term liabilities 8,421,487 8,640,017
TOTAL LIABILITIES 10,986,498 10,704,016
CONTINGENT LIABILITIES AND COMMITMENTS (See Note 17)
STOCKHOLDERS' EQUITY:    
Common stock, $0.10 par value per share, 11,000,000 and 8,000,000 shares authorized, 5,662,645 and 5,662,645 shares issued and 5,568,962 and 5,476,197 shares outstanding, as of December 31, 2018 and 2017, respectively 566,265 566,265
Additional paid-in capital 22,695,557 22,458,219
(Accumulated deficit) retained earnings (1,342,698) 978,973
Treasury stock, at cost, 93,683 and 186,448 shares as of December 31, 2018 and 2017, respectively (204,947) (407,879)
Accumulated other comprehensive income (loss) 30,157 (638)
Total stockholders' equity 21,744,334 23,594,940
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 32,730,832 $ 34,298,956