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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 49,000 $ 921,000
Accounts receivable, net 4,398,000 3,975,000
Inventories 7,710,000 7,791,000
Prepaid expenses 394,000 332,000
Total current assets 12,551,000 13,019,000
Property, plant and equipment:    
Machinery and equipment 17,940,000 17,940,000
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 266,000 112,000
Property, plant and equipment gross 21,631,000 21,477,000
Less : accumulated depreciation and amortization (20,675,000) (20,613,000)
Total property, plant and equipment, net 956,000 864,000
Other assets:    
Operating lease right-of-use 3,239,000 3,364,000
Total other assets 3,239,000 3,364,000
TOTAL ASSETS 16,746,000 17,247,000
Current liabilities:    
Trade payables 964,000 917,000
Line of credit 5,556,000 4,991,000
Operating lease liabilities 532,000 522,000
Advances from investors 2,000,000
Accrued liabilities 708,000 226,000
Total current liabilities 8,249,000 10,140,000
Long-term liabilities:    
Operating lease liabilities 2,707,000 2,842,000
Total long-term liabilities 3,219,000 3,375,000
TOTAL LIABILITIES 11,468,000 13,515,000
Shareholders’ Equity:    
Common Stock – no par value, 2,000,000,000 shares authorized, 20,815,595 shares issued and 20,771,937 shares outstanding at March 31, 2024 and December 31, 2023, respectively 21,283,000 21,283,000
Paid-in-capital 7,889,000 6,967,000
Accumulated deficit (24,933,000) (24,357,000)
Less: Treasury stock, 43,658 shares, at cost (161,000) (161,000)
Total shareholders’ equity 5,278,000 3,732,000
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 16,746,000 17,247,000
Series E Preferred Stock [Member]    
Shareholders’ Equity:    
Preferred Stock, value 780,000
Series F Preferred Stock [Member]    
Shareholders’ Equity:    
Preferred Stock, value 420,000
Nonrelated Party [Member]    
Current liabilities:    
Notes payable 145,000 140,000
Long-term liabilities:    
Notes payable – net of current portion 512,000 533,000
Related Party [Member]    
Current liabilities:    
Notes payable $ 344,000 $ 1,344,000