v3.21.1
BALANCE SHEETS - USD ($)
Dec. 31, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash and cash equivalents $ 27,315,286 $ 5,870,929
Accounts receivable less allowance for doubtful accounts of $24,469 and $32,645 for December 31, 2020, and December 31, 2019, respectively 2,572,954 3,234,521
Inventory 6,829,772 2,388,477
Prepaid expenses 807,780 387,396
TOTAL CURRENT ASSETS 37,525,792 11,881,323
Property and equipment, net 1,167,623 611,846
Intangible assets, net of accumulated amortization of $199,899 and $288,967 at December 31, 2020 and December 31, 2019, respectively 843,587 807,135
Operating lease right-of-use assets 236,846 373,734
Deferred income tax assets, net 125,274 188,241
Other assets 19,812 19,582
TOTAL ASSETS 39,918,934 13,881,861
CURRENT LIABILITIES    
Accounts payable 624,920 572,656
Accrued expenses 2,610,413 1,296,612
Accrued payroll and related taxes 287,130 190,265
Accrued tax liability 204,572
Finance lease liability - current 2,646 5,296
Operating lease liability - current 141,293 136,888
TOTAL CURRENT LIABILITIES 3,666,402 2,406,289
Finance lease liability, net of current portion 2,646
Operating lease liability, net of current portion 95,553 236,846
TOTAL LIABILITIES 3,761,955 2,645,781
Commitments and contingencies (Refer to Note 9)  
STOCKHOLDERS' EQUITY    
Common stock, $0.01 par value, 75,000,000 shares authorized, 46,680,119 and 42,239,788 shares issued; 43,259,617 and 39,502,557 shares outstanding at December 31, 2020, and December 31, 2019, respectively 466,801 422,398
Additional paid-in capital 35,880,986 6,293,069
Treasury stock, 3,420,502 shares and 2,737,231 shares at December 31, 2020 and December 31, 2019, respectively, at cost (3,843,562) (344,204)
Retained earnings 3,652,754 4,864,817
TOTAL STOCKHOLDERS' EQUITY 36,156,979 11,236,080
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 39,918,934 $ 13,881,861

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