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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 845,098
Accounts receivable 5,297,701 9,011,569
Inventories, net 10,643,911 13,959,499
Prepaid expenses 633,223 353,183
Other current assets 1,155,266 1,312,205
Receivable from related party 1,026,813 1,387,131
Current assets of discontinued operations 748,386 756,031
Total current assets 19,505,300 27,624,716
Property, plant and equipment:    
Machinery and equipment 21,796,644 23,822,808
Building 3,374,334 3,374,334
Office furniture and equipment 2,221,195 2,289,444
Intellectual property 783,179 783,179
Land 250,000 250,000
Leasehold improvements 390,624 415,737
Fixtures and equipment at customer locations 518,450 518,450
Projects under construction 68,738 74,929
Property, Plant and Equipment, Gross 29,403,164 31,528,881
Less : accumulated depreciation and amortization (27,397,950) (28,997,809)
Total property, plant and equipment, net 2,005,214 2,531,072
Other assets:    
Operating lease right-of-use 359,802 1,046,438
Other assets 78,259 118,857
Total other assets 438,061 1,165,295
TOTAL ASSETS 21,948,575 31,321,083
Current liabilities:    
Bank overdraft 29,837
Trade payables 6,135,867 7,021,580
Line of credit 5,613,063 14,518,107
Notes payable - current portion 2,467,741 3,451,880
Advance from investor 1,500,000
Notes payable affiliates - current portion 9,937 12,684
Operating Lease Liabilities 311,678 658,374
Accrued liabilities 1,262,139 1,205,027
Current liabilities of discontinued operations 273,782 656,753
Total current liabilities 17,604,044 27,524,405
Long-term liabilities:    
Notes payable - affiliates 10,632 14,340
Notes payable, net of current portion 1,445,683 1,024,441
Operating Lease Liabilities 48,123 388,064
Notes payable - officers, subordinated 1,107,080 1,058,486
Deferred gain (non current) 184,840
Total long-term liabilities 2,611,518 2,670,171
TOTAL LIABILITIES 20,215,562 30,194,576
Yunhong CTI, Ltd stockholders' equity:    
Preferred Stock -- no par value, 3,000,000 shares authorized, 548,200 shares issued and outstanding at September 30, 2020 and nil at December 31, 2019 respectively (liquidation preference - $5.482 million as of September 30, 2020) 3,132,600
Common stock - no par value, 15,000,000 shares authorized, 5,271,698 and 3,835,930 shares issued and 5,228,040 and 3,835,930 shares outstanding at September 30, 2020 and December 31, 2019 respectively 14,537,828 13,898,494
Paid-in-capital 4,695,658 3,587,287
Accumulated earnings (13,112,986) (9,992,841)
Accumulated other comprehensive loss (6,640,664) (5,348,812)
Less: Treasury stock, 43,658 shares (160,784) (160,784)
Total Yunhong CTI, Ltd Stockholders' Equity 2,451,652 1,983,344
Noncontrolling interest (718,639) (856,837)
Total Stockholders' Equity 1,733,013 1,126,507
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 21,948,575 $ 31,321,083