XML 12 R2.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current Assets:    
Cash $ 3,589,095 $ 4,052,109
Restricted cash 1,380,684 1,380,684
Accounts receivable, net of allowance for doubtful accounts of $239,547 as of September 30, 2020 and $230,855 as of December 31, 2019 7,309,323 7,029,602
Contract assets 18,409,267 15,280,807
Inventory 8,742,093 5,891,386
Refundable income taxes 35,459 474,904
Prepaid expenses and other current assets 600,889 721,964
Total current assets 40,066,810 34,831,456
Operating lease right-of-use assets 2,730,567 3,886,863
Property and equipment, net 2,618,887 3,282,939
Intangibles, net 281,250 375,000
Goodwill 1,784,254 1,784,254
Other assets 205,844 179,068
Total assets 47,687,612 44,339,580
Current Liabilities:    
Accounts payable 13,009,645 8,199,557
Accrued expenses 3,333,335 2,372,522
Contract liabilities 2,469,441 3,561,707
Loss contract reserve 1,569,447 2,650,963
Current portion of long-term debt 5,377,559 2,484,619
Operating lease liabilities 1,821,136 1,709,153
Income tax payable 1,216 1,216
Total current liabilities 27,581,779 20,979,737
Line of credit 20,738,685 26,738,685
Long-term operating lease liabilities 1,212,573 2,596,784
Long-term debt, net of current portion 7,811,467 1,764,614
Total liabilities 57,344,504 52,079,820
Shareholders’ Deficit:    
Common stock - $.001 par value; authorized 50,000,000 shares, 11,926,177 and 11,818,830 shares, respectively, issued and outstanding 11,926 11,819
Additional paid-in capital 71,972,011 71,294,629
Accumulated deficit (81,640,829) (79,046,688)
Total Shareholders’ Deficit (9,656,892) (7,740,240)
Total Liabilities and Shareholders’ Deficit $ 47,687,612 $ 44,339,580