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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash $ 225,000 $ 346,000
Accounts Receivable, Net of Allowance for Credit Losses of $321,000 and $344,000 8,035,000 7,892,000
Inventory 29,359,000 29,851,000
Prepaid Expenses and Other Current Assets 345,000 297,000
Contract Costs Receivable 296,000 296,000
Prepaid Taxes 37,000 37,000
Total Current Assets 38,297,000 38,719,000
Property and Equipment, Net 8,031,000 8,048,000
Finance Lease Right-of-Use Assets 932,000 970,000
Operating Lease Right-of-Use Assets 1,704,000 1,866,000
Deferred Financing Costs, Net, Deposits and Other Assets 1,298,000 1,112,000
TOTAL ASSETS 50,262,000 50,715,000
Current Liabilities    
Debt 16,309,000 16,036,000
Accounts Payable and Accrued Expenses 6,275,000 6,091,000
Operating Lease Liabilities 907,000 880,000
Deferred Gain on Sale – Leaseback 38,000 38,000
Customer Deposits 3,158,000 3,557,000
Total Current Liabilities 26,687,000 26,602,000
Long Term Liabilities    
Debt 1,465,000 1,112,000
Subordinated Notes - Related Party 6,162,000 6,162,000
Operating Lease Liabilities 1,345,000 1,582,000
Deferred Gain on Sale – Leaseback 57,000 67,000
TOTAL LIABILITIES 35,716,000 35,525,000
Commitments and Contingencies (see Note 7)
Preferred Stock, par value $.001 - Authorized 3,000,000 shares, 0 shares outstanding, at both March 31, 2024 and December 31, 2023.
Common Stock - Par Value $.001 - Authorized 6,000,000 shares, 3,315,368 and 3,303,045 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 3,000 3,000
Additional Paid-In Capital 82,990,000 82,928,000
Accumulated Deficit (68,447,000) (67,741,000)
TOTAL STOCKHOLDERS’ EQUITY 14,546,000 15,190,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 50,262,000 $ 50,715,000