BALANCE SHEETS - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 14,877,899	$ 16,199,043
Accounts receivable, net of allowance for doubtful accounts of $101,872 and $1,731,985, respectively	5,105,556	3,267,838
Inventories, net	6,206,161	7,017,224
Other current assets	418,154	192,548
Total current assets	26,607,770	26,676,653
Property, plant, and equipment, net	11,353,202	12,092,037
Income taxes receivable	188,456
Other assets	6,052	10,289
Total assets	38,155,480	38,778,979
Current liabilities:
Accounts payable	4,957,750	4,471,756
Current portion of long-term debt	410,949	430,393
Accrued compensation	547,021	536,456
Dividends payable	55,113	55,113
Accrued royalties to shareholder	793,489	659,443
Insurance proceeds	466,293
Other accrued liabilities	657,923	1,008,699
Income taxes payable	11,407	10,584
Total current liabilities	7,899,945	7,172,444
Long-term debt, net of current maturities	3,081,409	3,498,244
Total liabilities	10,981,354	10,670,688
Commitments and contingencies - See Note 8
Preferred stock, $1 par value:
Common Stock, no par value; authorized: 100,000,000 shares; outstanding: 32,666,454 and 29,666,454, respectively
Additional paid-in capital	62,092,206	59,290,333
Accumulated deficit	(35,699,525)	(31,963,487)
Total stockholders' equity	27,174,126	28,108,291
Total liabilities and stockholders' equity	38,155,480	38,778,979
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

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.