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CONDENSED BALANCE SHEETS - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 6,853,067 $ 12,667,550
Accounts receivable, net 4,690,228 10,671,721
Investments in debt and equity securities, at fair value 35,051,499 34,621,213
Inventories 22,018,265 17,581,368
Income taxes receivable 1,078,117 1,155,077
Other current assets 877,335 952,668
Total current assets 70,568,511 77,649,597
Property, plant, and equipment, net 90,049,927 93,478,521
Deferred tax asset   8,392,030
Other assets 125,982 152,064
Total assets 160,744,420 179,672,212
Current liabilities:    
Accounts payable 3,114,068 4,779,035
Current portion of long-term debt 317,991 303,991
Accrued compensation 936,137 865,105
Dividends payable 1,417,437 1,417,437
Accrued royalties to shareholder 596,203 1,376,555
Other accrued liabilities 1,037,693 630,571
Income taxes payable 3,311 4,802
Total current liabilities 7,422,840 9,377,496
Other long-term liabilities 66,813,843 69,773,538
Long-term debt, net of current maturities 1,070,556 1,233,519
Total liabilities 75,307,239 80,384,553
Commitments and contingencies - see Note 10
Stockholders' equity:    
Common Stock, no par value
Additional paid-in capital 73,160,333 73,160,333
Retained earnings 24,935,081 38,785,559
Common stock in treasury - at cost (12,888,678) (12,888,678)
Total stockholders' equity 85,437,181 99,287,659
Total liabilities and stockholders' equity 160,744,420 179,672,212
Series II Class B    
Stockholders' equity:    
Preferred stock, $1 par value: Class B; authorized: 5,000,000 shares 156,200 156,200
Series III Class B    
Stockholders' equity:    
Preferred stock, $1 par value: Class B; authorized: 5,000,000 shares $ 74,245 $ 74,245