Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v3.20.1
Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents (including restricted cash of $1,002,683 at December 31, 2018) $ 2,840,117 $ 5,640,078
Accounts receivable 933,830 7,726,919
Inventories, net 13,912,200 8,471,769
Prepaid expenses 1,264,814 468,666
Refundable income taxes 231,444 715,916
Total current assets 19,182,405 23,023,348
Operating lease right-of-use assets, net 2,186,775  
Property and equipment, net 2,100,034 2,122,757
Deposits 94,001 94,001
Total assets 23,563,215 25,240,106
Current liabilities    
Accounts payable 574,510 1,066,415
Customer deposits 197,487 79,184
Accrued liabilities and other current liabilities 1,031,709 504,559
Current portion of operating lease liabilities 617,642  
Current portion of notes payable 328,159 283,388
Total current liabilities 2,749,507 1,933,546
Notes payable, net of current portion 777,930 924,539
Operating lease liabilities, net of current portion 1,659,506  
Total liabilities 5,186,943 2,858,085
Commitments and Contingencies
Stockholders' Equity    
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, no shares issued and outstanding
Common stock, $0.0001 par value, 50,000,000 shares authorized, 10,143,158 shares issued and 10,125,681 shares outstanding at December 31, 2019, and 10,143,158 issued and outstanding at December 31, 2018 1,014 1,014
Additional paid-in capital 19,657,370 19,578,426
Retained earnings (Accumulated deficit) (1,242,170) 2,802,581
Treasury Stock, at cost (17,477 shares) (39,942)
Total stockholders' equity 18,376,272 22,382,021
Total liabilities and stockholders' equity $ 23,563,215 $ 25,240,106