v3.25.1
Condensed Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 1,522,457 $ 1,243,746
Accounts receivable, net 761,697 732,541
Inventories, net 2,941,549 2,996,397
Federal and state income taxes receivable 80,710 80,560
Prepaid expenses and other 369,688 40,045
      Total current assets 5,676,101 5,093,289
PROPERTY, PLANT AND EQUIPMENT:    
Land 317,932 317,932
Building 1,928,795 1,928,795
Real-time Alcohol Detection And Recognition equipment and software 569,448 569,448
Production equipment, software and space modifications 1,349,839 1,349,839
Training courses 432,375 432,375
Office equipment, software and space modifications 254,333 254,333
Sales and marketing equipment and space modifications 226,356 226,356
Research and development equipment, software and space modifications 805,012 787,664
Research and development equipment, software and space modifications not in service 129,207 128,007
Less accumulated depreciation (3,719,290) (3,613,452)
     Total property and equipment, net 2,294,007 2,381,297
OTHER ASSETS:    
Patents, net 76,818 78,723
Deposits and other 12,823 12,261
Deferred income taxes 1,159,199 1,159,199
     Total other assets 1,248,840 1,250,183
     Total assets 9,218,948 8,724,769
CURRENT LIABILITIES:    
Accounts payable 594,252 251,627
Term loan payable, current portion 53,604 53,195
Subordinated debentures payable, current portion 7,933
Customer and tenant deposits 124,209 43,814
Accrued expenses 244,634 293,981
Deferred revenue, current portion 62,437 54,458
Product warranty reserve 46,500 46,500
      Total current liabilities 1,133,569 743,575
TERM LOAN PAYABLE, net of current portion and debt issuance costs 1,099,722 1,119,152
SUBORDINATED DEBENTURES PAYABLE, net of debt issuance costs 690,238 630,000
DEFERRED REVENUE, net of current portion 13,928 6,165
      Total liabilities 2,937,457 2,498,892
STOCKHOLDERS' EQUITY:    
Retained earnings 347,177 639,863
      Total stockholders' equity 6,281,491 6,225,877
      Total liabilities and stockholders' equity $ 9,218,948 $ 8,724,769