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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
May 31, 2013
May 31, 2012
CURRENT ASSETS:    
Cash and cash equivalents $ 2,469,796 $ 1,077,342
Accounts receivable, less allowance for doubtful accounts of $115,730 and $113,191, respectively 871,660 1,200,516
Inventories, net 1,571,221 1,821,072
Deferred tax assets, current portion 144,000 177,000
Prepaid expenses and other 196,678 210,700
Total current assets 5,253,355 4,486,630
PROPERTY AND EQUIPMENT    
Equipment 1,429,906 1,185,098
Furniture, fixtures and leasehold improvements 256,723 244,410
Total property and equipment 1,686,629 1,429,508
Accumulated depreciation (1,032,009) (844,684)
Net property and equipment 654,620 584,824
DEFERRED TAX ASSETS, net of current portion 85,000 61,000
INTANGIBLE ASSETS, net 165,200 194,583
INVESTMENTS 165,324 165,324
OTHER ASSETS 71,388 78,561
TOTAL ASSETS 6,394,887 5,570,922
CURRENT LIABILITIES    
Accounts payable and accrued expenses 351,917 362,447
Accrued compensation 207,976 186,841
Line of credit    43,000
Total current liabilities 559,893 592,288
COMMITMENTS AND CONTINGENCIES (NOTE 8)      
SHAREHOLDERS' EQUITY    
Preferred stock, no par value, 5,000,000 authorized shares, no shares issued and outstanding at May 31, 2013 and 2012      
Common stock, $.08 par value; 25,000,000 shares authorized; 7,274,714 and 6,952,339 shares issued and outstanding, respectively 581,976 556,186
Additional paid-in capital 18,034,396 17,737,807
Accumulated other comprehensive loss (9,006) (6,030)
Accumulated deficit (12,772,372) (13,309,329)
Total shareholders' equity 5,834,994 4,978,634
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 6,394,887 $ 5,570,922