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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash $ 143,893 $ 194,021
Accounts receivable - net 1,723,613 2,007,751
Inventories 630,919 492,222
Prepaid expenses 690,017 634,016
Deferred tax asset - current portion 925,000 925,000
Total current assets 4,113,442 4,253,010
Property and equipment:    
Equipment 1,380,015 1,376,190
Leasehold improvements 88,718 88,718
Total 1,468,733 1,464,908
Less accumulated depreciation and amortization 1,108,809 1,092,785
Net property and equipment 359,924 372,123
Deferred tax asset (net of current portion) 7,938,701 8,158,523
Other assets including long-term portion of receivables-net 6,433,835 5,681,272
Total assets 18,845,902 18,464,928
Current liabilities:    
Current portion of long-term note payable to bank 1,858,247 601,081
Notes payable to officers 160,000 0
Revolving line of credit 500,000 0
Accounts payable and accrued expenses 487,989 847,418
Total current liabilities 3,006,236 1,448,499
Long-term obligations:    
Term loans payable to bank – net of current portion 0 1,366,454
Notes payable to officers 0 175,000
Note payable to Kingsway America, Inc. 600,000 600,000
Total long-term liabilities 600,000 2,141,454
Stockholders' equity:    
Common stock – no par value (25,000,000 shares authorized, 20,775,921 issued and outstanding as of December 31, 2015 and 20,783,032 issued and outstanding as of March 31, 2016) 24,308,894 24,294,002
Accumulated deficit (9,069,228) (9,419,027)
Total stockholders' equity 15,239,666 14,874,975
Total liabilities and stockholders' equity $ 18,845,902 $ 18,464,928