Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash and cash equivalents $ 8,022,237 $ 7,358,856
Short-term investments 2,290,667 1,222,053
Short-term investments - other 1,600,000 2,600,000
Accounts receivable, net 2,439,296 5,597,701
Inventories, net (note 3) 8,996,223 9,571,807
Prepaid expenses and other current assets (note 4) 2,144,150 1,672,422
Income tax receivable 0 77,385
Total Current Assets 25,492,573 28,100,224
LONG-TERM ASSETS    
Long-term investments 6,192,261 7,399,963
Financing right-of-use asset 72,914 107,991
Property and equipment, net 11,571,961 12,071,019
Intangible assets, net 1,883,236 1,989,782
Goodwill 2,579,381 2,579,381
Total Long-Term Assets 22,299,753 24,148,136
TOTAL ASSETS 47,792,326 52,248,360
CURRENT LIABILITIES    
Accounts payable 685,617 2,633,520
Accrued liabilities (note 5) 1,122,242 2,089,391
Current financing lease liability (note 6) 45,411 59,376
Income taxes payable 99,481 403,092
Total Current Liabilities 1,952,751 5,185,379
LONG-TERM LIABILITIES    
Net deferred income tax liability 543,441 439,275
Long-term financing lease liability (note 6) 30,238 52,120
TOTAL LIABILITIES 2,526,430 5,676,774
STOCKHOLDERS' EQUITY (note 7)    
Preferred stock: $0.001 par value, 10,000,000 shares authorized: no shares issued or outstanding 0 0
Common stock: $0.001 par value, 100,000,000 shares authorized: 51,325,493 issued and 47,913,115 outstanding at June 30, 2020, and 50,824,355 issued and 47,411,977 outstanding at December 31, 2019 51,325 50,824
Treasury stock, at cost (5,353,019) (5,353,019)
Additional paid-in capital 30,106,383 29,584,172
Accumulated other comprehensive loss (3,070,095) (2,415,460)
Retained earnings 23,531,302 24,705,069
TOTAL STOCKHOLDERS' EQUITY 45,265,896 46,571,586
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 47,792,326 $ 52,248,360