v3.24.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
CURRENT ASSETS    
Cash and cash equivalents $ 10,767,519 $ 7,384,578
Short-term investments (note 2) 2,799,539 1,154,284
Accounts receivable, net 14,013,740 10,886,145
Inventories, net (note 3) 14,059,656 10,293,980
Prepaid expenses and other current assets (note 4) 2,832,262 2,314,639
Total Current Assets 44,472,716 32,033,626
LONG-TERM ASSETS    
Net deferred tax asset 496,785 0
Long-term investments (note 2) 6,425,582 7,503,419
Lease right-of-use asset (note 8) 432,907 120,239
Property and equipment, net (note 5) 10,782,372 10,423,964
Intangible assets, net (note 6) 1,104,102 1,268,907
Goodwill (note 6) 2,579,381 2,579,381
Total Long-Term Assets 21,821,129 21,895,910
TOTAL ASSETS 66,293,845 53,929,536
CURRENT LIABILITIES    
Accounts payable 2,699,556 2,955,506
Accrued liabilities (note 7) 4,541,820 3,573,994
Current lease liability (note 8) 130,184 53,646
Income taxes payable 1,723,910 205,169
Total Current Liabilities 9,095,470 6,788,315
LONG-TERM LIABILITIES    
Net deferred income tax liability 52,621 488,858
Long-term lease liability (note 8) 307,528 67,883
TOTAL LIABILITIES 9,455,619 7,345,056
STOCKHOLDERS' EQUITY (note 9)    
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: 53,047,231 issued and 46,803,868 outstanding at December 31, 2023, and 52,143,901 issued and 47,105,771 outstanding at December 31, 2022 53,048 52,144
Treasury stock, at cost (9,324,272) (7,336,323)
Additional paid-in capital 32,751,749 31,737,843
Accumulated other comprehensive loss (2,844,702) (3,294,873)
Retained earnings 36,202,403 25,425,689
TOTAL STOCKHOLDERS' EQUITY 56,838,226 46,584,480
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 66,293,845 $ 53,929,536

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