v3.21.2
BALANCE SHEETS (UNAUDITED) - USD ($)
Jun. 30, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash and cash equivalents $ 26,538,478 $ 27,315,286
Accounts receivable less allowance for doubtful accounts of $24,469 for June 30, 2021, and December 31, 2020 2,577,400 2,572,954
Inventory 7,562,750 6,829,772
Prepaid expenses 461,553 807,780
TOTAL CURRENT ASSETS 37,140,181 37,525,792
Property and equipment, net 1,110,550 1,167,623
Intangible assets, net of accumulated amortization of $232,820 and $199,899 at June 30, 2021 and December 31, 2020, respectively 834,644 843,587
Operating lease right-of-use assets 166,483 236,846
Deferred income tax assets, net 1,327,230 125,274
Other assets 19,812 19,812
TOTAL ASSETS 40,598,900 39,918,934
CURRENT LIABILITIES    
Accounts payable 1,005,653 624,920
Accrued expenses 1,771,666 2,610,413
Accrued payroll and related taxes 390,326 287,130
Finance lease liability – current 1,030 2,646
Operating lease liability – current 142,450 141,293
TOTAL CURRENT LIABILITIES 3,311,125 3,666,402
Operating lease liability, net of current portion 24,033 95,553
TOTAL LIABILITIES 3,335,158 3,761,955
Commitments and contingencies (Refer to Note 3)  
STOCKHOLDERS’ EQUITY    
Common stock, $0.01 par value, 75,000,000 shares authorized, 47,910,676 and 46,680,119 shares issued 44,490,174 and 43,259,617 shares outstanding at June 30, 2021, and December 31, 2020, respectively 479,106 466,801
Additional paid-in capital 39,376,131 35,880,986
Treasury stock, 3,420,502 shares at June 30, 2021 and December 31, 2020, respectively, at cost (3,843,562) (3,843,562)
Retained earnings 1,252,067 3,652,754
TOTAL STOCKHOLDERS’ EQUITY 37,263,742 36,156,979
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 40,598,900 $ 39,918,934

Source