v3.10.0.1
BALANCE SHEETS - USD ($)
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS    
Cash and cash equivalents $ 3,738,803 $ 3,974,536
Certificates of deposit 1,517,927 263,269
Accounts receivable less allowance for doubtful accounts of $37,500 and $77,067 for December 31, 2018, and December 31, 2017, respectively 1,425,854 1,861,949
Inventory 2,103,879 1,658,681
Prepaid expenses 246,591 170,739
TOTAL CURRENT ASSETS 9,033,054 7,929,174
Property and equipment, net 858,781 836,283
Patents, net of accumulated amortization of $239,581 and $203,768 at December 31, 2018 and December 31, 2017, respectively 632,156 483,821
Deferred tax asset 1,466
Other assets 19,582 31,582
TOTAL ASSETS 10,545,039 9,280,860
CURRENT LIABILITIES    
Deferred capital gain - current 3,763 22,481
Accounts payable 453,498 454,398
Accrued expenses 688,649 658,060
Accrued payroll and related taxes 421,714 334,903
Accrued tax liability 16,608 115,854
TOTAL CURRENT LIABILITIES 1,584,232 1,585,696
Deferred capital gain - long term 3,762
Deferred tax liability 21,675
TOTAL LIABILITIES 1,584,232 1,611,133
STOCKHOLDERS' EQUITY    
Common stock, $0.01 par value, 75,000,000 shares authorized, 40,932,911 and 40,731,529 shares issued; 38,195,680 and 37,994,298 shares outstanding at December 31, 2018, and December 31, 2017, respectively 409,329 407,315
Additional paid-in capital 4,595,214 4,216,718
Retained earnings 4,300,468 3,389,898
TOTAL STOCKHOLDERS' EQUITY BEFORE TREASURY STOCK 9,305,011 8,013,931
Less: Treasury stock, 2,737,231 shares at December 31, 2018 and December 31, 2017, respectively, at cost (344,204) (344,204)
TOTAL STOCKHOLDERS' EQUITY 8,960,807 7,669,727
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 10,545,039 $ 9,280,860

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