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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 921,000 $ 146,000
Accounts receivable, net 3,975,000 1,618,000
Inventories 7,791,000 8,325,000
Prepaid expenses 332,000 389,000
Other current assets
Total current assets 13,019,000 10,478,000
Property, plant and equipment:    
Machinery and equipment 17,940,000 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 112,000 108,000
Property, plant and equipment, gross 21,477,000 21,256,000
Less : accumulated depreciation and amortization (20,613,000) (20,334,000)
Total property, plant and equipment, net 864,000 922,000
Other assets:    
Operating lease right-of-use 3,364,000 3,882,000
Other assets
Total other assets 3,364,000 3,882,000
TOTAL ASSETS 17,247,000 15,282,000
Current liabilities:    
Trade payables 917,000 1,313,000
Line of credit 4,991,000 2,878,000
Operating lease liabilities 522,000 518,000
Accrued liabilities 2,226,000 2,480,000
Total current liabilities 10,140,000 7,478,000
Long-term liabilities:    
Operating lease liabilities 2,842,000 3,364,000
Total long-term liabilities 3,375,000 5,058,000
TOTAL LIABILITIES 13,515,000 12,536,000
Equity:    
Series B Preferred Stock — no par value, none and 170,000 shares authorized, issued and outstanding at December 31, 2023 and 2022 respectively (liquidation preference - $1.7 million as of December 31, 2022) 1,851,000
Common stock - no par value, 2,000,000,000 and 50,000,000 shares authorized, 20,815,595 and 16,102,749 shares issued and 20,771,937 and 16,059,991 shares outstanding at December 31, 2023 and December 31, 2022 respectively 21,283,000 21,283,000
Paid-in-capital 6,967,000 3,895,000
Accumulated deficit (24,357,000) (24,122,000)
Less: Treasury stock, 43,658 shares (161,000) (161,000)
Total Shareholders’ Equity 3,732,000 2,746,000
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 17,247,000 15,282,000
Nonrelated Party [Member]    
Current liabilities:    
Notes payable - officers, subordinated 140,000 289,000
Long-term liabilities:    
Notes payable 533,000 427,000
Related Party [Member]    
Current liabilities:    
Notes payable - officers, subordinated 1,344,000
Long-term liabilities:    
Notes payable $ 1,267,000