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Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 960,347 $ 978,741
Trade accounts receivable 2,622,532 2,185,383
Inventory 7,149,563 7,811,841
Prepaid expenses and other current assets 615,203 493,885
Total current assets 11,347,645 11,469,850
Property, plant and equipment, net 26,982,105 27,575,683
Operating lease right-of-use asset 4,546,061 4,571,149
Goodwill 95,557 95,557
Intangible assets, net 33,432 38,208
Other assets 46,248 57,655
TOTAL ASSETS 43,051,048 43,808,102
CURRENT LIABILITIES:    
Current portion of debt obligations 1,443,791 1,428,807
Current portion of operating lease liability 597,289 644,276
Accounts payable and accrued expenses 2,142,859 2,124,337
Total current liabilities 4,183,939 4,197,420
LONG-TERM LIABILITIES:    
Debt obligations, net of current portion 10,169,217 10,540,496
Operating lease liability, net of current portion 4,061,573 4,077,109
Total long-term liabilities 14,230,790 14,617,605
TOTAL LIABILITIES 18,414,729 18,815,025
CONTINGENT LIABILITIES AND COMMITMENTS (See Note 11)
STOCKHOLDER’ EQUITY:    
Common stock, $0.10 par value per share, 15,000,000 shares authorized, 7,814,165 shares issued and 7,750,864 shares outstanding as of both March 31, 2024 and December 31, 2023 781,417 781,417
Additional paid-in capital 36,438,349 36,357,239
Accumulated deficit (12,444,965) (12,007,097)
Treasury stock, at cost, 63,301 shares as of both March 31, 2024 and December 31, 2023 (138,482) (138,482)
TOTAL STOCKHOLDERS’ EQUITY 24,636,319 24,993,077
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 43,051,048 $ 43,808,102