Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash and cash equivalents $ 7,919,545 $ 7,358,856
Short-term investments 2,239,256 1,222,053
Short-term investments - other 600,000 2,600,000
Accounts receivable, net 2,397,985 5,597,701
Inventories, net (note 3) 8,780,571 9,571,807
Prepaid expenses and other current assets (note 4) 2,178,682 1,672,422
Income tax receivable 465,828 77,385
Total Current Assets 24,581,867 28,100,224
LONG-TERM ASSETS    
Long-term investments 6,450,891 7,399,963
Financing right-of-use asset 61,347 107,991
Property and equipment, net 11,595,366 12,071,019
Intangible assets, net 1,827,553 1,989,782
Goodwill 2,579,381 2,579,381
Total Long-Term Assets 22,514,538 24,148,136
TOTAL ASSETS 47,096,405 52,248,360
CURRENT LIABILITIES    
Accounts payable 980,601 2,633,520
Accrued liabilities (note 5) 1,061,515 2,089,391
Current financing lease liability (note 6) 43,024 59,376
Income taxes payable 0 403,092
Total Current Liabilities 2,085,140 5,185,379
LONG-TERM LIABILITIES    
Net deferred income tax liability 484,115 439,275
Long-term financing lease liability (note 6) 20,927 52,120
TOTAL LIABILITIES 2,590,182 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: 51,371,960 issued and 47,959,582 outstanding at September 30, 2020, and 50,824,355 issued and 47,411,977 outstanding at December 31, 2019 51,371 50,824
Treasury stock, at cost (5,353,019) (5,353,019)
Additional paid-in capital 30,208,082 29,584,172
Accumulated other comprehensive loss (2,873,765) (2,415,460)
Retained earnings 22,473,554 24,705,069
TOTAL STOCKHOLDERS' EQUITY 44,506,223 46,571,586
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 47,096,405 $ 52,248,360