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Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 4,599,371 $ 3,758,232
Trade accounts receivable 3,346,425 3,771,133
Inventory 7,357,366 7,112,623
Prepaid expenses and other current assets 616,477 400,762
Total current assets 15,919,639 15,042,750
Property, plant and equipment, net 25,019,259 25,349,019
Operating lease right-of-use asset 4,527,379 4,560,679
Goodwill 95,557 95,557
Intangible assets, net 14,328 19,104
Other assets 45,417 33,368
TOTAL ASSETS 45,621,579 45,100,477
CURRENT LIABILITIES:    
Current portion of debt obligations 1,516,230 1,497,619
Current portion of operating lease liability 380,958 432,072
Accounts payable and accrued expenses 1,968,565 2,482,522
Total current liabilities 3,865,753 4,412,213
LONG-TERM LIABILITIES:    
Debt obligations, net of current portion 8,653,064 9,040,975
Operating lease liability, net of current portion 4,108,918 4,129,102
Total long-term liabilities 12,761,982 13,170,077
TOTAL LIABILITIES 16,627,735 17,582,290
CONTINGENT LIABILITIES AND COMMITMENTS (See Note 10)
STOCKHOLDER’ EQUITY:    
Common stock, $0.10 par value per share, 15,000,000 and 15,000,000 shares authorized, 9,045,924 and 9,042,392 shares issued and 8,982,623 and 8,979,091 shares outstanding, as of March 31, 2025 and December 31, 2024, respectively. 904,593 904,240
Additional paid-in capital 40,944,476 40,916,155
Accumulated deficit (12,716,743) (14,163,726)
Treasury stock, at cost, 63,301 shares as of both March 31, 2025 and December 31, 2024 (138,482) (138,482)
TOTAL STOCKHOLDERS’ EQUITY 28,993,844 27,518,187
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 45,621,579 $ 45,100,477