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BALANCE SHEETS - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 5,934,749 $ 9,647,292
Accounts receivable, net of allowance for doubtful accounts of $146,832 and $149,665, respectively 6,564,371 4,912,356
Investments in debt and equity securities, at fair value 7,771,660 2,986,156
Inventories, net 7,450,592 7,545,094
Income taxes receivable 50,392 100,887
Other current assets 635,201 644,803
Total current assets 28,406,965 25,836,588
Property, plant, and equipment, net 10,632,057 10,851,747
Income taxes receivable 50,393 100,835
Other assets 88,315 165,856
Total assets 39,177,730 36,955,026
Current liabilities:    
Accounts payable 5,007,604 5,369,677
Current portion of long-term debt 260,939 406,361
Accrued compensation 607,339 540,852
Dividends payable 54,800 55,113
Accrued royalties to shareholder 921,445 769,324
Other accrued liabilities 1,387,149 1,467,935
Income taxes payable 17,944 10,025
Total current liabilities 8,257,220 8,619,287
Other long-term liabilities   82,359
Long-term debt, net of current maturities 2,378,055 2,639,647
Total liabilities 10,635,275 11,341,293
Commitments and contingencies - See Note 9
Preferred stock, $1 par value:    
Common Stock, no par value; authorized: 100,000,000 shares; outstanding: 32,674,954
Additional paid-in capital 61,660,744 61,871,756
Accumulated deficit (33,891,234) (37,039,468)
Total stockholders' equity 28,542,455 25,613,733
Total liabilities and stockholders' equity 39,177,730 36,955,026
Series I, Class B    
Preferred stock, $1 par value:    
Preferred stock 96,000 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 $ 34,000 $ 40,000