XML 47 R2.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 18,271,352 $ 12,524,551
Accounts receivable, net of allowance for doubtful accounts of $62,000 and $42,000 at December 31, 2019 and 2018, respectively 3,661,325 7,373,971
Inventories, net 9,598,030 7,851,222
Prepaid expenses and other current assets 693,013 702,010
TOTAL CURRENT ASSETS 32,223,720 28,451,754
FIXED ASSETS:    
Property, plant and equipment, net 5,933,569 2,873,920
Finance lease right-of-use assets, net 210,350 0
OTHER ASSETS:    
Operating right-of-use assets, net 7,030,744 0
Intangible assets, net 3,914,352 3,884,831
Goodwill 5,872,690 4,983,127
Deposits and other assets 543,539 717,551
TOTAL ASSETS 55,728,964 40,911,183
CURRENT LIABILITIES:    
Accounts payable and accrued liabilities 5,526,243 5,888,681
Deferred revenue 125,000 422,905
Note payable 180,249 207,694
Finance lease liabilities 41,894 0
Operating lease liabilities 568,294 0
TOTAL CURRENT LIABILITIES 6,441,680 6,519,280
OTHER LIABILITIES:    
Long-term operating lease liabilities 6,969,603 0
Long-term finance lease liabilities 171,953 0
Note payable 0 171,821
Long-term debt, and debt discount and issuance costs 17,644,149 0
Deferred tax liability 466,326 892,308
TOTAL LIABILITIES 31,693,711 7,583,409
COMMITMENTS AND CONTINGENCIES (Note 12)
STOCKHOLDERS' EQUITY:    
Preferred stock - 10,000,000 shares authorized; none outstanding 0 0
Common stock - $.01 par value; 100,000,000 shares authorized, 17,733,617 and 17,166,459 shares issued and outstanding at December 31, 2019 and 2018, respectively 177,335 171,664
Additional paid-in capital 95,433,077 90,953,788
Accumulated deficit (71,585,003) (57,909,874)
Accumulated other comprehensive income 9,844 112,196
TOTAL STOCKHOLDERS' EQUITY 24,035,253 33,327,774
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 55,728,964 $ 40,911,183