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Balance Sheets (Unaudited Condensed) - USD ($)
Sep. 30, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 2,354,561 $ 2,521,050
Short-term investments 7,199,947
Trade accounts receivable, net 886,705 932,298
Inventory 2,681,073 2,331,671
Prepaid expenses and other current assets 502,273 635,817
Total current assets 13,624,559 6,420,836
PROPERTY, PLANT AND EQUIPMENT, net 24,978,847 26,027,549
INTANGIBLE ASSETS, net 119,400 133,728
GOODWILL 95,557 95,557
INTEREST RATE SWAPS 40,209
OTHER ASSETS 29,245 12,953
TOTAL ASSETS 38,847,608 32,730,832
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 937,376 1,220,660
Current portion of bank debt 1,290,625 844,351
Line of credit 500,000
Total current liabilities 2,228,001 2,565,011
LONG-TERM LIABILITIES:    
Bank debt, net of current portion 7,343,815 8,421,487
Interest rate swaps 86,973
Total long-term liabilities 7,430,788 8,421,487
TOTAL LIABILITIES 9,658,789 10,986,498
CONTINGENT LIABILITIES AND COMMITMENTS (See Note 17)
STOCKHOLDERS' EQUITY:    
Common stock, $0.10 par value per share, 11,000,000 and 11,000,000 shares authorized, 7,299,009 and 5,662,645 shares issued and 7,209,595 and 5,568,962 shares outstanding, as of September 30, 2019 and December 31, 2018, respectively 729,901 566,265
Additional paid-in capital 31,047,589 22,695,557
Accumulated deficit (2,327,833) (1,342,698)
Treasury stock, at cost, 89,414 and 93,683 shares as of September 30, 2019 and December 31, 2018, respectively (195,608) (204,947)
Accumulated other comprehensive (loss) income (65,230) 30,157
Total stockholders' equity 29,188,819 21,744,334
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 38,847,608 $ 32,730,832