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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents (VIE $2,000 and $2,000, respectively) $ 273,839 $ 181,026
Accounts receivable, (less allowance for doubtful accounts of $76,000 and $114,000, respectively) 9,676,660 11,235,834
Inventories, net (VIE $459,000 and $498,000, respectively) 19,831,819 18,865,932
Prepaid expenses (VIE $162,000 and $80,000, respectively) 1,458,860 887,885
Other current assets 1,397,204 1,120,808
Total current assets 32,638,382 32,291,485
Property, plant and equipment:    
Machinery and equipment 23,582,048 23,439,781
Building 3,367,082 3,367,082
Office furniture and equipment (VIE $303,000 and $268,000, respectively) 2,662,556 2,591,159
Intellectual property 752,044 752,044
Land 250,000 250,000
Leasehold improvements 410,683 402,963
Fixtures and equipment at customer locations 518,450 518,450
Projects under construction 360,827 121,241
Property, Plant and Equipment, Gross 31,903,690 31,442,720
Less : accumulated depreciation and amortization (VIE $91,000 and $36,000, respectively) (27,925,082) (26,886,139)
Total property, plant and equipment, net 3,978,608 4,556,581
Other assets:    
Goodwill (VIE $440,000 and $440,000, respectively) 1,473,176 1,473,176
Net deferred income tax asset (VIE $105,000 and $52,000, respectively) 1,431,634 1,102,467
Other assets 537,806 560,329
Total other assets 3,442,616 3,135,972
TOTAL ASSETS 40,059,606 39,984,038
Current liabilities:    
Checks written in excess of bank balance (VIE $11,000 and $16,000, respectively) 604,297 454,850
Trade payables (VIE $258,000 and $144,000, respectively) 5,925,071 5,414,497
Line of credit (VIE $285,000 and $338,000, respectively) 14,616,666 13,783,930
Notes payable - current portion 4,867,924 942,533
Notes payable affiliates - current portion 11,028 9,615
Capital Lease - current portion 7,562
Accrued liabilities (VIE $91,000 and $92,000, respectively) 2,116,742 2,047,893
Total current liabilities 28,141,728 22,660,880
Long-term liabilities:    
Notes payable - affiliates 192,737 212,545
Notes payable, net of current portion (VIE $38,000 and $83,000, respectively) 356,356 4,951,581
Notes payable - officers, subordinated 1,573,302 1,507,362
Deferred gain (non current) 133,447 207,410
Deferred income tax liability
Total long-term debt, net of current portion 2,255,842 6,878,898
Total long-term liabilities 2,255,842 6,878,898
CTI Industries Corporation stockholders' equity:    
Preferred Stock -- no par value, 3,000,000 shares authorized, 0 shares issued and outstanding
Common stock - no par value, 15,000,000 shares authorized, 3,573,885 shares issued and 3,530,227 shares outstanding 13,898,494 13,898,494
Paid-in-capital 2,410,711 2,271,261
Accumulated earnings (51,877) 720,223
Accumulated other comprehensive loss (5,475,969) (5,365,364)
Less: Treasury stock, 43,658 shares (160,784) (160,784)
Total CTI Industries Corporation stockholders' equity 10,620,575 11,363,830
Noncontrolling interest (958,539) (919,570)
Total Equity 9,662,036 10,444,260
TOTAL LIABILITIES AND EQUITY $ 40,059,606 $ 39,984,038