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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 160,105 $ 845,098
Accounts receivable 7,288,853 9,011,569
Inventories, net 12,686,643 13,959,499
Prepaid expenses 306,923 353,183
Other current assets 1,112,566 1,312,205
Receivable from related party 1,386,638 1,387,131
Current assets of discontinued operations 881,378 756,031
Total current assets 23,823,106 27,624,716
Property, plant and equipment:    
Machinery and equipment 23,466,349 23,822,808
Building 3,374,334 3,374,334
Office furniture and equipment 2,269,379 2,289,444
Intellectual property 783,179 783,179
Land 250,000 250,000
Leasehold improvements 382,213 415,737
Fixtures and equipment at customer locations 518,450 518,450
Projects under construction 111,177 74,929
Property, Plant and Equipment, Gross 31,155,081 31,528,881
Less : accumulated depreciation and amortization (28,890,383) (28,997,809)
Total property, plant and equipment, net 2,264,698 2,531,072
Other assets:    
Operating lease right-of-use 671,872 1,046,438
Other assets 84,179 118,857
Total other assets 756,051 1,165,295
TOTAL ASSETS 26,843,855 31,321,083
Current liabilities:    
Trade payables 6,249,294 7,021,580
Line of credit 10,106,037 14,518,107
Notes payable - current portion 3,198,453 3,451,880
Notes payable affiliates - current portion 10,311 12,684
Operating Lease Liabilities 399,044 658,374
Accrued liabilities 1,192,690 1,205,027
Current liabilities of discontinued operations 303,715 656,753
Total current liabilities 21,459,544 27,524,405
Long-term liabilities:    
Notes payable - affiliates 9,436 14,340
Notes payable, net of current portion 1,315,107 1,024,441
Operating Lease Liabilities 272,828 388,064
Notes payable - officers, subordinated 1,074,442 1,058,486
Deferred gain (non current) 159,156 184,840
Total long-term debt, net of current portion 2,830,969 2,670,171
Total long-term liabilities 2,830,969 2,670,171
TOTAL LIABILITIES 24,290,513 30,194,576
Yunhong CTI, Ltd stockholders' equity:    
Preferred Stock -- no par value, 3,000,000 shares authorized, 410,860 shares issued and outstanding at March 31, 2020 and nil at December 31,2019 respectively (liquidation preference - $4,108,000 as of March 31, 2020) 2,161,607
Common stock - no par value, 15,000,000 shares authorized, 4,219,608 and 3,879,608 shares issued and 4,175,950 and 3,835,930 shares outstanding at March 31, 2020 and December 31, 2019 respectively 14,321,161 13,898,494
Paid-in-capital 4,287,470 3,587,287
Accumulated deficit (10,631,537) (9,992,841)
Accumulated other comprehensive loss (6,712,315) (5,348,812)
Less: Treasury stock, 43,658 shares (160,784) (160,784)
Total Yunhong CTI, Ltd Stockholders' Equity 3,265,602 1,983,344
Noncontrolling interest (712,260) (856,837)
Total Equity 2,553,342 1,126,507
TOTAL LIABILITIES AND EQUITY $ 26,843,855 $ 31,321,083