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Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 1,989,462 $ 5,791,562
Trade accounts receivable, net 1,864,585 1,758,600
Inventory 7,385,663 6,038,539
Prepaid expenses and other current assets 722,393 406,055
Total current assets 11,962,103 13,994,756
Property, plant and equipment, net 28,158,094 28,441,726
Operating lease right-of-use asset 4,216,243 2,194,670
Goodwill 95,557 95,557
Intangible assets, net 42,984 57,312
Other assets 70,041 76,628
TOTAL ASSETS 44,545,022 44,860,649
CURRENT LIABILITIES:    
Current portion of debt obligations 1,411,225 1,039,447
Current portion of operating lease liability 67,818 31,764
Accounts payable and accrued expenses 1,848,928 2,000,862
Total current liabilities 3,327,971 3,072,073
LONG-TERM LIABILITIES:    
Debt obligations, net of current portion 10,904,743 9,191,109
Operating lease liability, net of current portion 4,298,819 2,217,418
Total long-term liabilities 15,203,562 11,408,527
TOTAL LIABILITIES 18,531,533 14,480,600
CONTINGENT LIABILITIES AND COMMITMENTS (See Note 11)
STOCKHOLDERS’ EQUITY:    
Common stock, $0.10 par value per share, 15,000,000 shares authorized, 7,814,165 shares issued and 7,746,864 shares outstanding as of both September 30, 2023 and December 31, 2022 781,417 781,417
Additional paid-in capital 36,246,571 35,978,364
Accumulated deficit (10,867,266) (6,232,499)
Treasury stock, at cost, 67,301 shares as of both September 30, 2023 and December 31, 2022 (147,233) (147,233)
Total stockholders’ equity 26,013,489 30,380,049
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 44,545,022 $ 44,860,649