v3.26.1
Condensed Consolidated Balance Sheets (unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 770,752 $ 1,718,237
Accounts receivable - less allowances of $128,188 and $155,000 5,159,423 3,576,966
Contract assets 0 55,497
Inventories, net 6,337,028 6,170,980
Assets held for sale 179,254 179,254
Income taxes receivable 45,476 43,949
Other current assets 486,123 498,440
Total current assets 12,978,056 12,243,323
Property, plant and equipment, net 9,235,938 9,641,440
Deferred income taxes, net 1,001,242 1,001,242
Operating lease right-of-use asset, net 338,989 371,464
Deposits with vendors 43,970 43,970
Total assets 23,598,195 23,301,439
Current liabilities:    
Accounts payable 1,728,536 742,292
Accrued wages and salaries 604,734 491,913
Other accrued liabilities 240,681 248,431
Unearned revenue and customer deposits 103,023 262,950
Current portion of operating lease liability 105,246 103,420
Current portion of line of credit 1,500,000 500,000
Total current liabilities 4,282,220 2,349,006
Operating lease liability - noncurrent 281,612 317,543
Deferred income taxes, net 1,141,588 1,141,588
Other long-term liabilities 440,000 660,000
Total liabilities 6,145,420 4,468,137
Commitments and contingencies (Note 3)
Shareholders' Equity    
Preferred stock, no par value, 500,000 shares authorized: none outstanding  
Common stock, $1.00 par value, 4,000,000 shares authorized, 1,138,096 shares issued; 966,132 shares outstanding as of June 30, 2026 and December 31, 2025 1,138,096 1,138,096
Additional paid-in capital 447,134 447,134
Retained earnings 19,789,643 21,170,170
Treasury stock, 171,964 shares at cost (3,922,098) (3,922,098)
Total shareholders' equity 17,452,775 18,833,302
Total liabilities and shareholders' equity $ 23,598,195 $ 23,301,439