Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2017
Dec. 31, 2016
CURRENT ASSETS    
Cash and cash equivalents $ 10,459,559 $ 9,316,036
Accounts receivable, net 5,365,159 5,633,802
Inventories, net 8,024,561 7,839,503
Income tax receivable 320,717 180,981
Short term investments 2,221,937 2,965,536
Investments - other 3,000,000 2,250,000
Prepaid expenses & other current assets 376,897 410,558
Total Current Assets 29,768,830 28,596,416
LONG-TERM ASSETS    
Deferred tax asset 110,461 60,940
Long-term investments 6,035,291 5,504,997
PROPERTY AND EQUIPMENT, net 7,259,078 7,458,723
Goodwill 997,701 997,701
Intangible assets, net 486,190 490,082
Total Long-Term Assets 14,888,721 14,512,443
TOTAL ASSETS 44,657,551 43,108,859
CURRENT LIABILITIES    
Accounts payable 1,453,726 1,220,478
Accrued vacation 177,321 154,307
Accrued liabilities 293,772 284,214
Income taxes payable 770,529 61,543
Total current liabilities 2,695,348 1,720,542
TOTAL LIABILITIES 2,695,348 1,720,542
STOCKHOLDERS' EQUITY    
Preferred shares: $0.001 par value, 10,000,000 shares authorized: no shares issued and outstanding
Common shares: $0.001 par value, 100,000,000 shares authorized: 53,656,961 issued and 50,539,709 outstanding at March 31, 2017 and 53,582,250 issued and 50,705,933 outstanding at December 31, 2016 53,656 53,582
Treasury stock, at cost (3,901,709) (3,582,805)
Additional paid-in capital 26,810,227 26,800,298
Accumulated other comprehensive loss (2,699,342) (2,810,743)
Retained earnings 21,699,371 20,927,985
Total Stockholders' Equity 41,962,203 41,388,317
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 44,657,551 $ 43,108,859