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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Feb. 29, 2012
May 31, 2011
Current Assets    
Cash and cash equivalents $ 898,458 $ 989,270
Accounts receivable 1,343,417 [1] 747,075 [2]
Inventories, net 1,862,002 1,785,525
Prepaid expenses and other 183,047 237,563
Deferred tax assets, current portion 127,000 127,000
Total Current Assets 4,413,924 3,886,433
Property and Equipment, net of accumulated depreciation and amortization 597,100 567,323
Deferred Tax Assets, net of current portion 111,000 111,000
Investments 165,324 165,324
Intangible Assets, net 203,363 177,410
Other Assets 53,548 47,888
Total Assets 5,544,259 4,955,378
Current Liabilities    
Accounts payable and accrued expenses 451,828 451,569
Accrued compensation 185,555 138,056
Accrued income taxes 25,256 0
Loan for equipment purchase 0 35,390
Total Current Liabilities 662,639 625,015
Commitments and Contingencies (Note 5)      
Shareholders’ Equity    
Preferred stock 0 [3] 0 [4]
Common stock 553,466 [5] 549,466 [6]
Additional paid-in-capital 17,697,577 17,643,121
Accumulated other comprehensive loss (5,988) (4,460)
Accumulated deficit (13,363,435) (13,857,764)
Total Shareholders’ Equity 4,881,620 4,330,363
Total Liabilities and Shareholders’ Equity $ 5,544,259 $ 4,955,378
[1] less allowance for doubtful accounts of $69,310 as of February 29, 2012
[2] less allowance for doubtful accounts of $32,204 as of May 31, 2011
[3] no par value authorized 5,000,000 shares, none issued and none outstanding at February 29, 2012
[4] no par value authorized 5,000,000 shares, none issued and none outstanding at May 31, 2011
[5] , $0.08 par value authorized 25,000,000 shares, issued and outstanding 6,918,339 at February 29, 2012
[6] , $0.08 par value authorized 25,000,000 shares, issued and outstanding 6,868,339 at May 31, 2011