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Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 3,918,157 $ 6,293,293
Short-term investments 1,992,538 2,480,753
Trade accounts receivable, net 1,542,545 1,637,165
Inventory 2,090,817 2,518,256
Prepaid expenses and other current assets 393,160 259,566
Total current assets 9,937,217 13,189,033
PROPERTY, PLANT AND EQUIPMENT, net 27,180,040 25,265,738
RESTRICTED CASH 1,401,970
OPERATING LEASE RIGHT-OF-USE ASSET 1,246,866
INTANGIBLE ASSETS, net 100,296 114,624
GOODWILL 95,557 95,557
OTHER ASSETS 25,262 26,884
TOTAL ASSETS 39,987,208 38,691,836
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 992,484 1,220,566
Current portion of debt obligations 711,906 1,274,790
Current portion of operating lease liability 97,458
Total current liabilities 1,801,848 2,495,356
LONG-TERM LIABILITIES:    
Debt obligations, net of current portion 9,004,402 7,146,676
Operating lease liability, net of current portion 1,160,297
Interest rate swaps 58,526
Total long-term liabilities 10,164,699 7,205,202
TOTAL LIABILITIES 11,966,547 9,700,558
CONTINGENT LIABILITIES AND COMMITMENTS (See Note 11)
STOCKHOLDERS' EQUITY:    
Common stock, $0.10 par value per share, 15,000,000 and 11,000,000 shares authorized, 7,299,009 shares issued and 7,212,919 shares outstanding, as of September 30, 2020 and December 31, 2019, respectively 729,901 729,901
Additional paid-in capital 31,328,328 31,131,893
Accumulated deficit (3,849,232) (2,638,285)
Treasury stock, at cost, 86,090 shares as of September 30, 2020 and December 31, 2019 (188,336) (188,336)
Accumulated other comprehensive loss (43,895)
Total stockholders' equity 28,020,661 28,991,278
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 39,987,208 $ 38,691,836