Financials

v2.4.0.6
Consolidated Balance Sheets (Unaudited) (USD $)
Mar. 31, 2013
Dec. 31, 2012
CURRENT ASSETS    
Cash and cash equivalents $ 97,662 $ 22,839
Accounts receivable, net 251,366 65,271
Inventory 200,726 205,155
Other current assets 8,670 10,945
Total current assets 558,424 304,210
PROPERTY AND EQUIPMENT, NET 1,574,715 1,608,283
OTHER ASSETS    
Property held for sale 495,456 495,456
Deferred tax asset 160,000 200,000
Deferred costs, net 9,298 10,288
Total other assets 664,754 705,744
TOTAL ASSETS 2,797,893 2,618,237
CURRENT LIABILITIES    
Accounts payable and accrued expense 181,073 83,502
Line of credit 90,996 94,487
Current portion of long-term debt 157,747 140,797
Total current liabilities 429,816 318,786
LONG-TERM LIABILITIES    
Long-term debt, less current portion 699,324 750,776
STOCKHOLDERS' EQUITY    
Common stock, par value $.0001 per share, 100,000,000 shares authorized, 36,889,535 and 36,889,535 shares issued and outstanding, respectively 3,688 3,688
Preferred stock, par value $.0001 per share, 5,000,000 shares authorized; Series A, 1 share issued and outstanding      
Additional paid-in capital 3,881,605 3,881,605
Accumulated deficit (2,216,540) (2,336,618)
Total stockholders' equity 1,668,753 1,548,675
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,797,893 $ 2,618,237
v2.4.0.6
Consolidated Statements of Operations (Unaudited) (USD $)
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
REVENUES    
Product sales $ 583,491 $ 384,979
Drying services    56,930
Total revenues 583,491 441,909
EXPENSES    
Personnel 80,428 95,591
Cost of products sold (exclusive of depreciation and amortization, shown separately below) 215,825 109,544
Repairs and maintenance 3,191 5,048
Professional fees 43,131 77,370
Office and other 26,150 34,272
Amortization and depreciation 35,391 40,321
Freight and shipping 2,866 3,456
Total Operating expenses 406,982 365,602
OPERATING INCOME 176,509 76,307
OTHER INCOME (EXPENSES)    
Investment and other income 715 1,007
Interest expense (17,146) (13,541)
Total other income (expense) (16,431) (12,534)
INCOME BEFORE INCOME TAXES 160,078 63,773
Income taxes 40,000 18,000
NET INCOME $ 120,078 $ 45,773
NET INCOME PER COMMON SHARE $ 0.00 $ 0.00
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING 36,889,535 36,575,070
v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 120,078 $ 45,773
Adjustments to reconcile net income to net Cash provided by (used in) operating activities:    
Depreciation and amortization 35,391 40,321
Deferred income taxes 40,000 18,000
Increase or decrease in:    
Accounts receivable (186,095) (164,479)
Inventory 4,429 (17,293)
Other current assets 2,275 (79)
Accounts payable and accrued expenses 97,571 71,563
Total adjustments 6,429 (51,967)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 113,649 (6,194)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of equipment and building improvements (833) (47,159)
NET CASH USED IN INVESTING ACTIVITIES (833) (47,159)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payments on notes payable (34,502) (47,909)
Payments on lines of credit (3,491) (251)
NET CASH USED IN FINANCING ACTIVITES (37,993) (48,160)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 74,823 (101,513)
CASH AND CASH EQUIVALENTS, beginning of period 22,839 127,077
CASH AND CASH EQUIVALENTS, end of period 97,662 25,564
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 17,146 13,541
Cash paid for income taxes