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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 103,668 $ 845,098
Accounts receivable 7,169,499 9,011,569
Inventories, net 11,027,364 13,959,499
Prepaid expenses 284,921 353,183
Other current assets 1,147,949 1,312,205
Receivable from related party 1,047,114 1,387,131
Current assets of discontinued operations 788,388 756,031
Total current assets 21,568,903 27,624,716
Property, plant and equipment:    
Machinery and equipment 22,722,932 23,822,808
Building 3,374,334 3,374,334
Office furniture and equipment 2,206,897 2,289,444
Intellectual property 783,179 783,179
Land 250,000 250,000
Leasehold improvements 386,719 415,737
Fixtures and equipment at customer locations 518,450 518,450
Projects under construction 80,636 74,929
Property, Plant and Equipment, Gross, Ending Balance 30,323,147 31,528,881
Less : accumulated depreciation and amortization (28,163,953) (28,997,809)
Total property, plant and equipment, net 2,159,194 2,531,072
Other assets:    
Operating lease right-of-use 455,408 1,046,438
Other assets 75,981 118,857
Total other assets 531,389 1,165,295
TOTAL ASSETS 24,259,486 31,321,083
Current liabilities:    
Trade payables 5,560,569 7,021,580
Line of credit 8,484,849 14,518,107
Notes payable - current portion 2,745,257 3,451,880
Deferred other income liability 246,854
Notes payable affiliates - current portion 10,998 12,684
Operating Lease Liabilities 342,759 658,374
Accrued liabilities 904,213 1,205,027
Current liabilities of discontinued operations 306,889 656,753
Total current liabilities 18,602,388 27,524,405
Long-term liabilities:    
Notes payable - affiliates 8,622 14,340
Notes payable, net of current portion 1,688,015 1,024,441
Operating Lease Liabilities 112,649 388,064
Notes payable - officers, subordinated 1,090,639 1,058,486
Deferred gain (non current) 852 184,840
Total long-term debt, net of current portion 2,900,777 2,670,171
Total long-term liabilities 2,900,777 2,670,171
TOTAL LIABILITIES 21,503,165 30,194,576
Yunhong CTI, Ltd stockholders' equity:    
Preferred Stock - no par value, 3,000,000 shares authorized, 590,860 shares issued and outstanding at June 30, 2020 and nil at December 31, 2019 respectively (liquidation preference - $5.9 million as of June 30, 2020) 3,472,161
Common stock - no par value, 15,000,000 shares authorized, 4,479,608 and 3,879,608 shares issued and 4,435,950 and 3,835,930 shares outstanding at June 30, 2020 and December 31, 2019 respectively 14,537,828 13,898,494
Paid-in-capital 4,356,097 3,587,287
Accumulated deficit (12,159,046) (9,992,841)
Accumulated other comprehensive loss (6,645,988) (5,348,812)
Less: Treasury stock, 43,658 shares (160,784) (160,784)
Total Yunhong CTI, Ltd Stockholders' Equity 3,400,268 1,983,344
Noncontrolling interest (643,947) (856,837)
Total Stockholders' Equity 2,756,321 1,126,507
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 24,259,486 $ 31,321,083