v3.21.1
BALANCE SHEETS (UNAUDITED) - USD ($)
Mar. 31, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash and cash equivalents $ 26,774,720 $ 27,315,286
Accounts receivable less allowance for doubtful accounts of $24,469 for March 31, 2021, and December 31, 2020, respectively 3,561,341 2,572,954
Inventory 8,058,824 6,829,772
Prepaid expenses 690,325 807,780
TOTAL CURRENT ASSETS 39,085,210 37,525,792
Property and equipment, net 1,154,368 1,167,623
Intangible assets, net of accumulated amortization of $214,969 and $199,899 at March 31, 2021 and December 31, 2020, respectively 844,309 843,587
Operating lease right-of-use assets 201,598 236,846
Deferred income tax assets, net 1,068,485 125,274
Other assets 19,812 19,812
TOTAL ASSETS 42,373,782 39,918,934
CURRENT LIABILITIES    
Accounts payable 1,915,523 624,920
Accrued expenses 1,755,800 2,610,413
Accrued payroll and related taxes 715,899 287,130
Finance lease liability - current 1,843 2,646
Operating lease liability - current 141,869 141,293
TOTAL CURRENT LIABILITIES 4,530,934 3,666,402
Operating lease liability, net of current portion 59,729 95,553
TOTAL LIABILITIES 4,590,663 3,761,955
Commitments and contingencies (Refer to Note 3)  
STOCKHOLDERS' EQUITY    
Common stock, $0.01 par value, 75,000,000 shares authorized, 47,896,061 and 46,680,119 shares issued; 44,475,559 and 43,259,617 shares outstanding at March 31, 2021, and December 31, 2020, respectively 478,960 466,801
Additional paid-in capital 38,771,105 35,880,986
Treasury stock, 3,420,502 shares and 3,420,502 shares at March 31, 2021 and December 31, 2020, respectively, at cost (3,843,562) (3,843,562)
Retained earnings 2,376,616 3,652,754
TOTAL STOCKHOLDERS' EQUITY 37,783,119 36,156,979
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 42,373,782 $ 39,918,934

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