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BALANCE SHEETS - USD ($)
$ in Thousands
Nov. 30, 2022
Nov. 09, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 15,375 $ 15,252
Receivables, net of allowance for doubtful accounts of $0 at November 30, 2022 and 2021 3,644 4,974
Other receivable 920
Contract assets 408 603
Inventories:    
Raw materials and supplies 6,715 5,738
Work in process 3,573 2,946
Total inventories 10,288 8,684
Prepaid expenses and other assets 564 341
Total current assets 31,199 29,854
PROPERTY, PLANT AND EQUIPMENT, at cost:    
Land 1,518 1,518
Buildings 498 498
Facility improvements 1,126 1,126
Furniture and fixtures 1,036 1,025
Construction in process equipment 19,415 8,019
Machinery and equipment 9,952 9,390
Total property, plant, and equipment 33,545 21,576
Less accumulated depreciation (11,082) (10,739)
Net property, plant, and equipment 22,463 10,837
Operating lease right to use asset 14 67
Deferred income taxes, net 86
Total assets 53,762 40,758
CURRENT LIABILITIES:    
Accounts payable 1,173 1,963
Accrued compensation 1,086 1,295
Deferred revenue 1,192 1,258
Property taxes 560 318
Income tax 149 180
Short term debt 224
Other accrued liabilities 47 78
Total current liabilities 4,431 5,092
Operating lease liabilities less current portion 14
Long term debt, net of debt issuance costs 14,535 3,369
Deferred income taxes, net 16
Total liabilities 18,966 8,491
SHAREHOLDERS’ EQUITY    
Common stock, $.10 par value, authorized 10,000,000     shares, 3,078,315 issued and 2,578,315 outstanding at     November 30, 2022 and 2021 308 308
Additional paid-in-capital 885 885
Treasury stock, 500,000 shares, at cost (1,250) (1,250)
Retained earnings 34,853 32,324
Total shareholders’ equity 34,796 32,267
Total liabilities and shareholders’ equity $ 53,762 $ 40,758