v3.22.1
BALANCE SHEETS (UNAUDITED) - USD ($)
Mar. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 22,577,247 $ 25,334,889
Accounts receivable less allowance for doubtful accounts of $24,271 for March 31, 2022 and December 31, 2021 3,145,397 3,592,886
Inventory 6,017,737 6,106,338
Other Receivables 680,075 718,220
Prepaid expenses 1,510,851 1,568,821
TOTAL CURRENT ASSETS 33,931,307 37,321,154
Property and equipment, net 1,763,269 1,106,445
Intangible assets, net of accumulated amortization of $278,897 and $263,729 at March 31, 2022 and December 31, 2021, respectively 795,339 808,813
Operating lease right-of-use assets 4,309,282 95,553
Deferred income tax assets, net 2,538,853 1,941,254
Other assets 89,587 19,812
TOTAL ASSETS 43,427,637 41,293,031
CURRENT LIABILITIES    
Accounts payable 1,267,980 1,227,533
Accrued expenses 2,171,724 2,709,704
Note Payable 255,614 508,583
Other Liabilities 115,625 90,000
Accrued payroll and related taxes 506,315 160,603
Operating lease liability - current 395,359 95,553
TOTAL CURRENT LIABILITIES 4,712,617 4,791,976
Operating lease liability, net of current portion 3,913,923
TOTAL LIABILITIES 8,626,540 4,791,976
STOCKHOLDERS’ EQUITY    
Common stock, $0.01 par value, 75,000,000 shares authorized, 48,121,289 and 48,044,162 shares issued, 44,700,787 and 44,623,660 shares outstanding at March 31, 2022 and December 31, 2021, respectively 481,212 480,441
Additional paid-in capital 41,611,030 40,774,245
Treasury stock, 3,420,502 shares at March 31, 2022 and December 31, 2021, at cost (3,843,562) (3,843,562)
Retained deficit (3,447,583) (910,069)
TOTAL STOCKHOLDERS’ EQUITY 34,801,097 36,501,055
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 43,427,637 $ 41,293,031

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