XML 44 R33.htm IDEA: XBRL DOCUMENT v3.21.2
RESTATEMENT OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS, Consolidated Balance Sheets (Details) - USD ($)
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
[1]
Dec. 31, 2018
Sep. 30, 2018
[1]
Jun. 30, 2018
[1]
Mar. 31, 2018
[1]
Dec. 31, 2017
[1]
CURRENT ASSETS [Abstract]                
Cash $ 13,345,643     $ 24,070,351 [1]        
Accounts receivable-trade, net of allowance for doubtful accounts of $15,703 497,729     408,170 [1]        
Inventory 23,761,063     33,302,549 [1]        
Prepaid income taxes 1,414,869     419,908 [1]        
Prepaid expenses 1,207,653     1,283,795 [1]        
Other current assets 144,118     331,805 [1]        
Total current assets 49,474,266     59,816,578 [1]        
Property and equipment, at cost 27,527,204     28,140,345 [1]        
Less accumulated depreciation (14,362,455)     (13,625,261) [1]        
Property and equipment, net 13,164,749     14,515,084 [1]        
Deferred income taxes 1,599,211     1,092,293 [1]        
Goodwill 957,686     954,765 [1]        
Other intangibles, net of accumulated amortization of $690,869 14,500     16,500 [1]        
Other assets 374,519     386,107 [1]        
TOTAL ASSETS 80,354,743     76,781,327 [1]        
CURRENT LIABILITIES [Abstract]                
Accounts payable-trade 2,739,698     2,154,394 [1]        
Accrued expenses and other liabilities 3,435,347     5,401,508 [1]        
Current maturities of long-term debt 0     519,516 [1]        
Total current liabilities 10,093,802     8,075,418 [1]        
Uncertain tax positions 1,415,715     1,415,715 [1]        
Deferred income taxes       0        
Other non-current liabilities 556,741     555,296 [1]        
Long-term debt, net of current maturities 0     8,448,502 [1]        
COMMITMENTS AND CONTINGENCIES (Note 10)     [1]        
STOCKHOLDERS' EQUITY [Abstract]                
Preferred stock, $0.10 par value; 20,000,000 shares authorized; none issued or outstanding; attributes to be determined on issuance 0     0 [1]        
Common stock, $0.0024 par value; 25,000,000 shares authorized; 10,353,155 shares issued 24,851     24,848 [1]        
Paid-in capital 4,836,834     4,267,138 [1]        
Retained earnings 63,040,254     64,476,378 [1]        
Treasury stock at cost (1,292,594 shares) (9,772,982)     (9,037,783) [1]        
Accumulated other comprehensive loss (net of tax of $480,112) (1,239,136)     (1,444,185) [1]        
Total stockholders' equity 56,889,821 $ 58,624,204 $ 59,230,092 58,286,396 [1] $ 58,004,707 $ 57,283,675 $ 56,841,233 $ 55,895,540
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 80,354,743     76,781,327 [1]        
As Reported [Member]                
CURRENT ASSETS [Abstract]                
Cash       24,070,351        
Accounts receivable-trade, net of allowance for doubtful accounts of $15,703       408,170        
Inventory       33,867,276        
Prepaid income taxes       383,478        
Prepaid expenses       1,244,754        
Other current assets       161,208        
Total current assets       60,135,237        
Property and equipment, at cost       28,005,563        
Less accumulated depreciation       (13,606,266)        
Property and equipment, net       14,399,297        
Deferred income taxes       248,228        
Goodwill       954,765        
Other intangibles, net of accumulated amortization of $690,869       16,500        
Other assets       386,107        
TOTAL ASSETS       76,140,134        
CURRENT LIABILITIES [Abstract]                
Accounts payable-trade       1,978,840        
Accrued expenses and other liabilities       4,176,479        
Current maturities of long-term debt       747,335        
Total current liabilities       6,902,654        
Uncertain tax positions       0        
Deferred income taxes       1,556,493        
Other non-current liabilities       0        
Long-term debt, net of current maturities       8,220,683        
COMMITMENTS AND CONTINGENCIES (Note 10)              
STOCKHOLDERS' EQUITY [Abstract]                
Preferred stock, $0.10 par value; 20,000,000 shares authorized; none issued or outstanding; attributes to be determined on issuance       0        
Common stock, $0.0024 par value; 25,000,000 shares authorized; 10,353,155 shares issued       27,232        
Paid-in capital       7,158,821        
Retained earnings       65,716,761        
Treasury stock at cost (1,292,594 shares)       (11,931,850)        
Accumulated other comprehensive loss (net of tax of $480,112)       (1,510,660)        
Total stockholders' equity       59,460,304        
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY       76,140,134        
Adjustments [Member]                
CURRENT ASSETS [Abstract]                
Cash       0        
Accounts receivable-trade, net of allowance for doubtful accounts of $15,703       0        
Inventory       (564,727)        
Prepaid income taxes       36,430        
Prepaid expenses       39,041        
Other current assets       170,597        
Total current assets       (318,659)        
Property and equipment, at cost       134,782        
Less accumulated depreciation       (18,995)        
Property and equipment, net       115,787        
Deferred income taxes       844,065        
Goodwill       0        
Other intangibles, net of accumulated amortization of $690,869       0        
Other assets       0        
TOTAL ASSETS       641,193        
CURRENT LIABILITIES [Abstract]                
Accounts payable-trade       175,554        
Accrued expenses and other liabilities       1,225,029        
Current maturities of long-term debt       (227,819)        
Total current liabilities       1,172,764        
Uncertain tax positions       1,415,715        
Deferred income taxes       (1,556,493)        
Other non-current liabilities       555,296        
Long-term debt, net of current maturities       227,819        
COMMITMENTS AND CONTINGENCIES (Note 10)              
STOCKHOLDERS' EQUITY [Abstract]                
Preferred stock, $0.10 par value; 20,000,000 shares authorized; none issued or outstanding; attributes to be determined on issuance       0        
Common stock, $0.0024 par value; 25,000,000 shares authorized; 10,353,155 shares issued       (2,384)        
Paid-in capital       (2,891,683)        
Retained earnings       (1,240,383)        
Treasury stock at cost (1,292,594 shares)       2,894,067        
Accumulated other comprehensive loss (net of tax of $480,112)       66,475        
Total stockholders' equity       (1,173,908)        
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY       $ 641,193        
[1] As described in Note 2 to these Consolidated Financial Statements, we have restated the Consolidated Financial Statements.