XML 13 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Balance Sheet (Current Period Unaudited) - USD ($)
Jun. 30, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 6,927,438 $ 2,232,499
Accounts receivable less allowance for doubtful accounts 12,522,216 14,001,795
Contract assets 4,727,753 2,422,379
Inventory, net of reserves 11,057,037 7,678,690
Prepaid expenses and other current assets 680,131 703,002
Total Current Assets 35,914,575 27,038,365
PROPERTY, PLANT AND EQUIPMENT:    
Land and improvements 228,872 228,872
Buildings and leasehold improvements 1,949,370 1,837,009
Machinery and equipment 14,060,723 13,950,444
Total property, plant and equipment 16,238,965 16,016,325
Less accumulated depreciation 4,482,606 3,622,153
Property, Plant and Equipment, Net 11,756,359 12,394,172
Operating right of use asset, net 8,778,901 9,224,840
OTHER ASSETS:    
Goodwill 11,505,852 9,791,745
Intangibles, net of accumulated amortization 7,912,156 3,950,838
Other non-current assets 106,804 88,046
Total Non-Current Other Assets 19,524,812 13,830,629
Total Assets 75,974,647 62,488,006
CURRENT LIABILITIES:    
Notes payable – current 2,766,221 2,749,459
Bank debt – current 1,333,333 1,333,333
Leases payable - current 826,936 850,664
Accounts payable 9,311,886 6,071,522
Unearned revenue 722,062 1,998,578
Accrued expenses 4,136,392 3,281,445
Total Current Liabilities 19,096,830 16,285,001
LONG-TERM LIABILITIES:    
Notes payable – long-term 8,306,832 7,676,697
Bank debt – long-term 14,283,417 6,376,594
Leases payable – long term 8,109,118 8,513,448
Deferred income taxes 2,207,735 2,207,734
Total Long-Term Liabilities 32,907,102 24,774,473
STOCKHOLDERS' EQUITY    
Preferred shares, no par value - 1,000,000 shares authorized, no shares issued and outstanding
Contributed capital 1,741,901 1,741,901
Treasury shares (1,934,812) (1,905,780)
Retained earnings 18,831,490 16,527,083
Total Stockholders' Equity 23,970,715 21,428,532
Total Liabilities and Stockholders' Equity 75,974,647 62,488,006
Common Class A [Member]    
STOCKHOLDERS' EQUITY    
Common stock 3,866,614 3,599,806
Common Class B [Member]    
STOCKHOLDERS' EQUITY    
Common stock $ 1,465,522 $ 1,465,522