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Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (2,315,053) $ 513,287
Adjustments to reconcile net (loss) income to net cash (used for) provided by operating activities:    
Depreciation 652,134 616,847
Amortization of intangible assets 4,776 4,776
Amortization of debt issuance costs 1,919 1,905
Stock-based compensation 96,116 54,093
Loss (gain) on disposal of property, plant and equipment 8,243 (11,000)
Non-cash rent expense 8,595 4,079
Changes in:    
Trade accounts receivable (331,699) 41,638
Inventory (289,788) (345,860)
Prepaid expenses and other current assets (327,569) (98,343)
Other assets (11,153) 3,116
Accounts payable and accrued expenses (258,506) (146,003)
Net cash (used for) provided by operating activities (2,761,985) 638,535
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (682,166) (807,496)
Proceeds from sale of property, plant and equipment 15 11,000
Net cash used for investing activities (682,151) (796,496)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from debt issuance 2,000,000
Proceeds from line of credit 1,000,000
Debt principal repayments (251,376) (197,385)
Payments of debt issuance costs (18,826)
Proceeds from exercise of stock options 5,840
Net cash provided by financing activities 748,624 1,789,629
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (2,695,512) 1,631,668
BEGINNING CASH AND CASH EQUIVALENTS 5,791,562 10,185,468
ENDING CASH AND CASH EQUIVALENTS 3,096,050 11,817,136
CASH PAID FOR:    
Income taxes 7,205 5,535
Interest expense 88,043 71,877
NON-CASH ACTIVITIES:    
Change in capital expenditures included in accounts payable and accrued expenses $ 2,621 $ (47,900)