v3.22.2.2
BALANCE SHEETS (UNAUDITED) - USD ($)
Sep. 30, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 16,441,268 $ 25,334,889
Accounts receivable less allowance for doubtful accounts of $24,471 for September 30, 2022, and December 31, 2021 5,070,077 3,592,886
Inventory 6,884,156 6,106,338
Other Receivables 686,108 718,220
Prepaid expenses 1,660,655 1,568,821
TOTAL CURRENT ASSETS 30,742,264 37,321,154
Property and equipment, net 3,318,612 1,106,445
Intangible assets, net of accumulated amortization of $310,011 and $263,729 at September 30, 2022 and December 31, 2021, respectively 798,534 808,813
Operating lease right-of-use assets 3,865,370 95,553
Finance lease right -of-use, net accumulated depreciation of $23,671 at September 30, 2022 331,400
Deferred income tax assets, net 3,520,823 1,941,254
Other assets 88,772 19,812
TOTAL ASSETS 42,665,775 41,293,031
CURRENT LIABILITIES    
Accounts payable 1,365,610 1,227,533
Accrued expenses 2,568,746 2,709,704
Note Payable 644,733 508,583
Other Liabilities 357,491 90,000
Accrued payroll and related taxes 824,047 160,603
Financing lease liability – current 64,467
Operating lease liability – current 342,399 95,553
TOTAL CURRENT LIABILITIES 6,167,493 4,791,976
Financing lease liability, net of current portion 265,542
Operating lease liability, net of current portion 3,741,015
TOTAL LIABILITIES 10,174,050 4,791,976
STOCKHOLDERS’ EQUITY    
Common stock, $0.01 par value, 75,000,000 shares authorized, 48,657,023 and 48,044,162 shares issued 45,236,521 and 44,623,660 shares outstanding at September 30, 2022, and December 31, 2021, respectively 486,570 480,441
Additional paid-in capital 43,443,201 40,774,245
Treasury stock, 3,420,502 shares at September 30, 2022 and December 31, 2021, respectively, at cost (3,843,562) (3,843,562)
Retained deficit (7,594,484) (910,069)
TOTAL STOCKHOLDERS’ EQUITY 32,491,725 36,501,055
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 42,665,775 $ 41,293,031

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