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Unaudited Condensed Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash and cash equivalents $ 3,650,699 $ 1,573,328
Short-term investments 6,696,000 4,464,000
Accounts receivable, net 947,293 718,103
Inventory 1,228,877 870,207
Prepaid expenses and other current assets 503,093 256,698
Total current assets 13,025,962 7,882,336
PROPERTY, PLANT AND EQUIPMENT, net 6,502,333 5,718,814
LONG-TERM INVESTMENTS 487,000 487,000
DEFERRED TAX ASSET 287,893 452,117
INTANGIBLE ASSETS, net 175,598 0
GOODWILL 95,557 0
TOTAL ASSETS 20,574,343 14,540,267
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 963,741 662,165
Current portion of bank debt 129,507 130,780
Total current liabilities 1,093,248 792,945
LONG-TERM LIABILITIES:    
Bank debt, net of current portion 2,946,532 3,054,977
Interest rate swaps 227,416 78,525
Total long-term liabilities 3,173,948 3,133,502
TOTAL LIABILITIES 4,267,196 3,926,447
CONTINGENT LIABILITIES AND COMMITMENTS (See Note 15)
STOCKHOLDERS' EQUITY:    
Common stock, $0.10 par value per share, 10,000,000 and 8,000,000 shares authorized, 4,384,958 and 3,261,148 shares issued, as of June 30, 2016 and December 31, 2015, respectively 438,496 326,115
Additional paid-in capital 15,380,947 10,150,190
Retained earnings 1,081,964 638,672
Treasury stock, at cost, 205,114 and 206,114 shares as of June 30, 2016 and December 31, 2015, respectively (448,714) (450,901)
Accumulated other comprehensive loss (145,546) (50,256)
Total stockholders' equity 16,307,147 10,613,820
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 20,574,343 $ 14,540,267