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Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 958,860 $ 1,084,991
Accounts receivable, net 2,837,006 2,367,177
Inventories, net 3,178,908 2,272,328
Prepaid expenses and other current assets 312,127 307,832
Deferred cost on shipments to distributors 233,823 165,024
Total current assets 7,520,724 6,197,352
Property and equipment:    
Machinery and office equipment 2,195,405 2,188,835
Computer equipment 1,336,445 992,531
Property and equipment, gross 3,531,850 3,181,366
Accumulated depreciation (2,667,340) (2,492,154)
Property and equipment, net 864,510 689,212
Goodwill 4,427,000 4,427,000
Other long-term assets 202,611 236,565
Deferred tax assets 5,506,934 5,780,938
Operating lease right-of-use asset 936,708 1,265,648
Total assets 19,458,487 18,596,715
Current liabilities:    
Accounts payable and accrued expenses 2,084,848 1,533,456
Accrued payroll and related expenses 566,350 512,307
Deferred revenue on shipments to distributors 611,029 396,974
Short term portion of deferred service revenue 32,900 33,644
Bank lines of credit 1,412,449 1,316,778
Term loan – current portion 333,333 500,000
Operating lease – current portion 419,288 376,160
Finance lease – current portion 8,291 15,697
Total current liabilities 5,468,488 4,685,016
Long term portion of deferred service revenue 40,711 31,291
Long-term portion of term loan 333,333
Long term portion of operating lease 715,062 1,134,350
Long-term portion of finance lease 8,290
Total liabilities 6,224,261 6,192,280
Commitments and contingencies
Stockholders’ equity:    
Common stock, $0.001 par value: Authorized – 20,000,000 shares, Issued and outstanding – 6,017,674 shares at December 31, 2019 and 5,883,109 shares at December 31, 2018 6,018 5,883
Additional paid-in capital 61,066,971 60,523,901
Accumulated deficit (47,838,763) (48,125,349)
Total stockholders’ equity 13,234,226 12,404,435
Total liabilities and stockholders’ equity $ 19,458,487 $ 18,596,715