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BALANCE SHEETS - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 16,199,043 $ 18,045,044
Accounts receivable, net of allowance for doubtful accounts of $1,731,985 and $1,795,481, respectively 3,267,838 4,900,997
Inventories, net 7,017,224 6,296,625
Other current assets 192,548 1,568,032
Total current assets 26,676,653 30,810,698
Property, plant, and equipment, net 12,092,037 11,468,061
Other assets 10,289 15,326
Total assets 38,778,979 42,294,085
Current liabilities:    
Accounts payable 4,471,756 5,697,518
Current portion of long-term debt 430,393 249,349
Accrued compensation 536,456 763,576
Dividends payable 55,113 55,414
Accrued royalties to shareholder 659,443 631,145
Other accrued liabilities 1,008,699 690,535
Income taxes payable 10,584 8,176
Total current liabilities 7,172,444 8,095,713
Long-term debt, net of current maturities 3,498,244 3,417,471
Total liabilities 10,670,688 11,513,184
Commitments and contingencies - See Note 8
Preferred stock, $1 par value:    
Common Stock, no par value; authorized: 100,000,000 shares; outstanding: 29,666,454 and 28,619,874 shares, respectively
Additional paid-in capital 59,290,333 58,268,036
Accumulated deficit (31,963,487) (28,268,580)
Total stockholders' equity 28,108,291 30,780,901
Total liabilities and stockholders' equity 38,778,979 42,294,085
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 171,200 171,200
Series III, Class B    
Preferred stock, $1 par value:    
Preferred stock 129,245 129,245
Series IV, Class B    
Preferred stock, $1 par value:    
Preferred stock 342,500 342,500
Series V, Class B    
Preferred stock, $1 par value:    
Preferred stock $ 40,000 $ 40,000