XML 30 R3.htm IDEA: XBRL DOCUMENT v3.20.1
Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 1,142,825 $ 958,860
Accounts receivable, net 2,814,491 2,837,006
Inventories, net 3,294,719 3,178,908
Prepaid expenses and other current assets 306,082 312,127
Deferred cost on shipments to distributors 217,439 233,823
Total current assets 7,775,556 7,520,724
Property and equipment:    
Machinery and office equipment 2,279,501 2,195,405
Computer equipment 1,234,120 1,336,445
Property and equipment, gross 3,513,621 3,531,850
Accumulated depreciation (2,630,816) (2,667,340)
Property and equipment, net 882,805 864,510
Goodwill 4,427,000 4,427,000
Other long-term assets 191,718 202,611
Deferred tax assets 5,506,934 5,506,934
Operating lease right-of-use asset 850,704 936,708
Total assets 19,634,717 19,458,487
Current liabilities:    
Accounts payable and accrued expenses 1,993,605 2,084,848
Accrued payroll and related expenses 537,170 566,350
Deferred revenue on shipments to distributors 584,619 611,029
Short term portion of deferred service revenue 29,693 32,900
Bank lines of credit 1,939,492 1,412,449
Term loan – current portion 208,333 333,333
Operating lease – current portion 430,589 419,288
Finance lease – current portion 4,180 8,291
Total current liabilities 5,727,681 5,468,488
Long-term portion of deferred service revenue 35,871 40,711
Long-term portion of operating lease 603,697 715,062
Total liabilities 6,367,249 6,224,261
Commitments and contingencies
Stockholders’ equity:    
Common stock, $0.001 par value: Authorized – 20,000,000 shares, Issued and outstanding – 6,009,507 shares at March 31, 2020 and 6,017,674 shares at December 31, 2019 6,010 6,018
Additional paid-in capital 61,190,548 61,066,971
Accumulated deficit (47,929,090) (47,838,763)
Total stockholders’ equity 13,267,468 13,234,226
Total liabilities and stockholders’ equity $ 19,634,717 $ 19,458,487