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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 130,000 $ 146,000
Accounts receivable, net 3,344,000 1,618,000
Inventories 7,944,000 8,325,000
Prepaid expenses 489,000 389,000
Total current assets 11,907,000 10,478,000
Property, plant and equipment:    
Machinery and equipment 17,723,000 17,723,000
Office furniture and equipment 2,084,000 2,084,000
Intellectual property 783,000 783,000
Leasehold improvements 39,000 39,000
Fixtures and equipment at customer locations 519,000 519,000
Projects under construction 164,000 108,000
Property, plant and equipment, gross 21,312,000 21,256,000
Less : accumulated depreciation and amortization (20,414,000) (20,334,000)
Total property, plant and equipment, net 898,000 922,000
Other assets:    
Operating lease right-of-use 3,757,000 3,882,000
Total other assets 3,757,000 3,882,000
TOTAL ASSETS 16,562,000 15,282,000
Current liabilities:    
Trade payables 1,278,000 1,313,000
Line of credit 4,284,000 2,878,000
Notes payable 540,000 289,000
Operating Lease Liabilities 518,000 518,000
Accrued liabilities 1,382,000 2,480,000
Total current liabilities 9,288,000 7,478,000
Long-term liabilities:    
Notes payable 427,000
Operating Lease Liabilities 3,239,000 3,364,000
Total long-term liabilities 3,239,000 5,058,000
TOTAL LIABILITIES 12,527,000 12,536,000
Shareholders’ Equity:    
Series B Preferred Stock — no par value, 170,000 shares authorized, none and 170,000 issued and outstanding at March 31, 2023 and December 31, 2022, respectively 1,851,000
Common Stock – no par value, 50,000,000 shares authorized, 20,015,413 and 16,102,749 shares issued and 19,971,755 and 16,059,991 shares outstanding at March 31, 2023 and December 31, 2022, respectively 21,283,000 21,283,000
Paid-in-capital 6,637,000 3,895,000
Accumulated deficit (23,724,000) (24,122,000)
Less: Treasury stock, 43,658 shares (161,000) (161,000)
Total Shareholders’ Equity 4,035,000 2,746,000
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 16,562,000 15,282,000
Related Party [Member]    
Current liabilities:    
Notes payable 1,286,000
Long-term liabilities:    
Notes payable $ 1,267,000