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BALANCE SHEETS - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 18,045,044 $ 22,128,977
Restricted cash   600,897
Accounts receivable, net of allowance for doubtful accounts of $1,795,481 and $1,725,806, respectively 4,900,997 5,642,091
Inventories, net 6,296,625 4,663,548
Other current assets 1,568,032 1,194,055
Total current assets 30,810,698 34,229,568
Property, plant, and equipment, net 11,468,061 10,852,853
Intangible and other assets, net 262,105 270,693
Total assets 42,540,864 45,353,114
Current liabilities:    
Accounts payable 5,697,518 5,142,796
Litigation proceeds subject to stipulation   7,724,826
Current portion of long-term debt 249,349 149,744
Accrued compensation 763,576 504,188
Dividends payable 55,414  
Accrued royalties to shareholders 631,145 787,434
Other accrued liabilities 690,535 782,322
Income taxes payable 8,176 8,290
Total current liabilities 8,095,713 15,099,600
Long-term debt, net of current maturities 3,417,471 3,425,028
Total liabilities $ 11,513,184 $ 18,524,628
Commitments and contingencies - see Note 8
Preferred stock $1 par value:    
Common Stock, no par value; authorized: 100,000,000 shares; outstanding: 28,619,874 and 27,613,397 shares, respectively
Additional paid-in capital $ 58,268,036 $ 59,273,769
Retained deficit (28,021,801) (32,336,119)
Common stock in treasury - at cost; 0 and 722,920 shares, respectively   (1,096,609)
Total stockholders' equity 31,027,680 26,828,486
Total liabilities and stockholders' equity 42,540,864 45,353,114
Series I, Class B    
Preferred stock $1 par value:    
Preferred stock 98,500 98,500
Series II, Class B    
Preferred stock $1 par value:    
Preferred stock 171,200 176,200
Series III, Class B    
Preferred stock $1 par value:    
Preferred stock 129,245 130,245
Series IV, Class B    
Preferred stock $1 par value:    
Preferred stock 342,500 542,500
Series V, Class B    
Preferred stock $1 par value:    
Preferred stock $ 40,000 $ 40,000