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2018
FY
10-K
2018-12-31
CHICAGO RIVET & MACHINE CO.
Illinois
901 Frontenac Road
Naperville
Illinois
60563
630
357-8500
966132
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<p style='margin:0in;margin-bottom:.0001pt'><b>1-Nature of Business and Significant Accounting Policies</b></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><b>Nature of Business-</b>The Company operates in the fastener industry and is in the business of producing and selling rivets, cold-formed fasteners and parts, screw machine products, automatic rivet setting machines and parts and tools for such machines.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><b>A summary of the Company’s significant accounting policies follows:</b></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><b>Principles of Consolidation-</b>The consolidated financial statements include the accounts of Chicago Rivet & Machine Co. and its wholly-owned subsidiary, H & L Tool Company, Inc. (“H & L Tool”).  All significant intercompany accounts and transactions have been eliminated.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><b>Revenue Recognition-</b> On January 1, 2018, the Company adopted Accounting Standard Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers” using the modified retrospective method.  The adoption did not result in the recognition of a cumulative adjustment to beginning retained earnings.  For the Company, the most significant impact of the new standard was the addition of required disclosures within the notes to the financial statements.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>Revenue is recognized when control of the promised goods or services is transferred to our customers, generally upon shipment of goods or completion of services, in an amount that reflects the consideration we expect to receive in exchange for those goods or services.  Sales taxes we may collect concurrent with revenue producing activities are excluded from revenue.  Revenue is recognized net of certain sales adjustments to arrive at net sales as reported on the statement of income.  These adjustments primarily relate to customer returns and allowances, which vary over time.  The Company records a liability and reduction in sales for estimated product returns based upon historical experience.  If we determine that our obligation under warranty claims is probable and subject to reasonable determination, an estimate of that liability is recorded as an offset against revenue at that time.  As of December 31, 2018 and 2017, reserves for warranty claims were not material.  Cash received by the Company prior to shipment is recorded as unearned revenue.  Shipping and handling fees billed to customers are recognized in net sales, and related costs as cost of sales, when incurred.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><b>Credit Risk-</b>The Company extends credit on the basis of terms that are customary within our markets to various companies doing business primarily in the automotive industry.  The Company has a concentration of credit risk primarily within the automotive industry and in the Midwestern United States.  The Company has established an allowance for accounts that may become uncollectible in the future.  This estimated allowance is based primarily on management's evaluation of the financial condition of the customer and historical experience.  The Company monitors its accounts receivable and charges to expense an amount equal to its estimate of potential credit losses.  The Company considers a number of factors in determining its estimates, including the length of time its trade accounts receivable are past due, the Company's previous loss history and the customer's current ability to pay its obligation.  Accounts receivable balances are charged off against the allowance when it is determined that the receivable will not be recovered.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><b>Cash and Cash Equivalents and Certificates of Deposit-</b>The Company considers all highly liquid investments, including certificates of deposit, with a maturity of three months or less when purchased to be cash equivalents.  Certificates of deposit with an original maturity of greater than three months are separately presented at cost which approximates market value.  The Company maintains cash on deposit in several financial institutions. At times, the account balances may be in excess of Federal Deposit Insurance Corporation insured limits.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><b>Fair Value of Financial Instruments-</b>The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, certificates of deposit, accounts receivable and accounts payable approximate fair value based on their short term nature.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><b>Inventories-</b>Inventories are stated at the lower of cost or net realizable value, cost being determined by the first-in, first-out method.  The value of inventories is reduced for estimated excess and obsolete inventories based on a review of on-hand inventories compared to historical and estimated future sales and usage.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><b>Property, Plant and Equipment-</b>Properties are stated at cost and are depreciated over their estimated useful lives using the straight-line method for financial reporting purposes.  Accelerated methods of depreciation are used for income tax purposes.  Direct costs related to developing or obtaining software for internal use are capitalized as property and equipment.  Capitalized software costs are amortized over the software’s useful life when the software is placed in service.  The estimated useful lives by asset category are:</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <div align="center"> <table border="1" cellspacing="0" cellpadding="0" width="369" style='width:277.0pt;border-collapse:collapse;border:none'> <tr align="left"> <td width="217" valign="top" style='width:162.55pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><i><u>Asset Category</u></i></p> </td> <td width="153" valign="top" style='width:114.45pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><i><u>Estimated Useful Life</u></i></p> </td> </tr> <tr align="left"> <td width="217" valign="top" style='width:162.55pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Land improvements……………..</p> </td> <td width="153" valign="top" style='width:114.45pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>15 to 40 years</p> </td> </tr> <tr align="left"> <td width="217" valign="top" style='width:162.55pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Buildings and improvements……</p> </td> <td width="153" valign="top" style='width:114.45pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>10 to 40 years</p> </td> </tr> <tr align="left"> <td width="217" valign="top" style='width:162.55pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Machinery and equipment………</p> </td> <td width="153" valign="top" style='width:114.45pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5 to 18 years</p> </td> </tr> <tr align="left"> <td width="217" valign="top" style='width:162.55pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capitalized software costs………</p> </td> <td width="153" valign="top" style='width:114.45pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3 to 5 years</p> </td> </tr> <tr align="left"> <td width="217" valign="top" style='width:162.55pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Other equipment…………………</p> </td> <td width="153" valign="top" style='width:114.45pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3 to 10 years</p> </td> </tr> </table> </div> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company reviews the carrying value of property, plant and equipment for impairment whenever events and circumstances indicate that the carrying value of an asset may not be recoverable from the estimated future cash flows expected to result from its use and eventual disposition.  In cases where undiscounted expected future cash flows are less than the carrying value, an impairment loss is recognized equal to an amount by which the carrying value exceeds the fair value of assets.  There were no triggering events requiring assessment of impairment as of December 31, 2018 and 2017.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>When properties are retired or sold, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss on disposition is recognized in current operations.  Maintenance, repairs and minor betterments that do not improve the related asset or extend its useful life are charged to operations as incurred. </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><b>Income Taxes—</b>Deferred income taxes are determined under the asset and liability method.  Deferred income taxes arise from temporary differences between the income tax basis of assets and liabilities and their reported amounts in the financial statements.  Deferred taxes are shown on the balance sheet as a net long-term asset or liability.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company applies a comprehensive model for the financial statement recognition, measurement, classification and disclosure of uncertain tax positions. In the first step of the two-step process, the Company evaluates the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. In the second step, the Company measures the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. As of December 31, 2018 and 2017, the Company determined that there are no uncertain tax positions with a more than 50% likelihood of being realized upon settlement.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company classifies interest and penalties related to unrecognized tax benefits as a component of income tax expense.  There were no such expenses in 2018 or 2017.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company’s federal income tax returns for the 2015 through 2017 tax years are subject to examination by the Internal Revenue Service (“IRS”).  While it may be possible that a reduction could occur with respect to the Company’s unrecognized tax benefits as an outcome of an IRS examination, management does not anticipate any adjustments that would result in a material change to the results of operations or financial condition of the Company.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>No statutes have been extended on any of the Company’s federal income tax filings. The statute of limitations on the Company’s 2015, 2016 and 2017 federal income tax returns will expire on September 15, 2019, 2020 and 2021, respectively.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company’s state income tax returns for the 2015 through 2017 tax years are subject to examination by various state authorities with the latest closing period on October 31, 2021.  The Company is currently not under examination by any state authority for income tax purposes and no statutes for state income tax filings have been extended.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p>Segment Information-<font style='font-weight:normal'>The Company reports segment information based on the internal structure and reporting of the Company’s operations.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><b>Net Income Per Share-</b>Net income per share of common stock is based on the weighted average number of shares outstanding of 966,132 in 2018 and 2017.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><b>Use of Estimates-</b>The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes.  Significant items subject to estimates and assumptions include depreciable lives, deferred taxes and valuation allowances for accounts receivable and inventory obsolescence.  Actual results could differ from those estimates.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><b>Recent Accounting Pronouncements-</b> In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (”ASU”) No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software.  The guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years, with early adoption permitted. The guidance can be applied prospectively or retrospectively. We expect to adopt this standard effective January 1, 2020 and are currently evaluating the impact that it will have on our consolidated financial statements and disclosures.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. This may result in the earlier recognition of allowances for losses. The new guidance is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. Management has not yet completed its assessment of the impact of the new standard on the Company’s consolidated financial statements. Currently, the Company believes that the most notable impact of this ASU may relate to its processes around the assessment of the adequacy of its allowance for doubtful accounts on trade accounts receivable.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU is intended to increase transparency and comparability among entities by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements when the lease has a term of more than 12 months.  The ASU will require lessees to recognize in the balance sheet a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term.  The ASU is effective for annual reporting periods beginning after December 15, 2018 and interim periods within those annual periods.  The impact of adopting this ASU is not expected to be significant based on current lease agreements.</p>
<p style='margin:0in;margin-bottom:.0001pt'><b>Principles of Consolidation-</b>The consolidated financial statements include the accounts of Chicago Rivet & Machine Co. and its wholly-owned subsidiary, H & L Tool Company, Inc. (“H & L Tool”).  All significant intercompany accounts and transactions have been eliminated.</p>
<p style='margin:0in;margin-bottom:.0001pt'><b>Revenue Recognition-</b> On January 1, 2018, the Company adopted Accounting Standard Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers” using the modified retrospective method.  The adoption did not result in the recognition of a cumulative adjustment to beginning retained earnings.  For the Company, the most significant impact of the new standard was the addition of required disclosures within the notes to the financial statements.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>Revenue is recognized when control of the promised goods or services is transferred to our customers, generally upon shipment of goods or completion of services, in an amount that reflects the consideration we expect to receive in exchange for those goods or services.  Sales taxes we may collect concurrent with revenue producing activities are excluded from revenue.  Revenue is recognized net of certain sales adjustments to arrive at net sales as reported on the statement of income.  These adjustments primarily relate to customer returns and allowances, which vary over time.  The Company records a liability and reduction in sales for estimated product returns based upon historical experience.  If we determine that our obligation under warranty claims is probable and subject to reasonable determination, an estimate of that liability is recorded as an offset against revenue at that time.  As of December 31, 2018 and 2017, reserves for warranty claims were not material.  Cash received by the Company prior to shipment is recorded as unearned revenue.  Shipping and handling fees billed to customers are recognized in net sales, and related costs as cost of sales, when incurred.</p>
<p style='margin:0in;margin-bottom:.0001pt'><b>Credit Risk-</b>The Company extends credit on the basis of terms that are customary within our markets to various companies doing business primarily in the automotive industry.  The Company has a concentration of credit risk primarily within the automotive industry and in the Midwestern United States.  The Company has established an allowance for accounts that may become uncollectible in the future.  This estimated allowance is based primarily on management's evaluation of the financial condition of the customer and historical experience.  The Company monitors its accounts receivable and charges to expense an amount equal to its estimate of potential credit losses.  The Company considers a number of factors in determining its estimates, including the length of time its trade accounts receivable are past due, the Company's previous loss history and the customer's current ability to pay its obligation.  Accounts receivable balances are charged off against the allowance when it is determined that the receivable will not be recovered.</p>
<p style='margin:0in;margin-bottom:.0001pt'><b>Cash and Cash Equivalents and Certificates of Deposit-</b>The Company considers all highly liquid investments, including certificates of deposit, with a maturity of three months or less when purchased to be cash equivalents.  Certificates of deposit with an original maturity of greater than three months are separately presented at cost which approximates market value.  The Company maintains cash on deposit in several financial institutions. At times, the account balances may be in excess of Federal Deposit Insurance Corporation insured limits.</p>
<p style='margin:0in;margin-bottom:.0001pt'><b>Fair Value of Financial Instruments-</b>The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, certificates of deposit, accounts receivable and accounts payable approximate fair value based on their short term nature.</p>
<p style='margin:0in;margin-bottom:.0001pt'><b>Inventories-</b>Inventories are stated at the lower of cost or net realizable value, cost being determined by the first-in, first-out method.  The value of inventories is reduced for estimated excess and obsolete inventories based on a review of on-hand inventories compared to historical and estimated future sales and usage.</p>
<p style='margin:0in;margin-bottom:.0001pt'><b>Property, Plant and Equipment-</b>Properties are stated at cost and are depreciated over their estimated useful lives using the straight-line method for financial reporting purposes.  Accelerated methods of depreciation are used for income tax purposes.  Direct costs related to developing or obtaining software for internal use are capitalized as property and equipment.  Capitalized software costs are amortized over the software’s useful life when the software is placed in service.  The estimated useful lives by asset category are:</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <div align="center"> <table border="1" cellspacing="0" cellpadding="0" width="369" style='width:277.0pt;border-collapse:collapse;border:none'> <tr align="left"> <td width="217" valign="top" style='width:162.55pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><i><u>Asset Category</u></i></p> </td> <td width="153" valign="top" style='width:114.45pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><i><u>Estimated Useful Life</u></i></p> </td> </tr> <tr align="left"> <td width="217" valign="top" style='width:162.55pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Land improvements……………..</p> </td> <td width="153" valign="top" style='width:114.45pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>15 to 40 years</p> </td> </tr> <tr align="left"> <td width="217" valign="top" style='width:162.55pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Buildings and improvements……</p> </td> <td width="153" valign="top" style='width:114.45pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>10 to 40 years</p> </td> </tr> <tr align="left"> <td width="217" valign="top" style='width:162.55pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Machinery and equipment………</p> </td> <td width="153" valign="top" style='width:114.45pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5 to 18 years</p> </td> </tr> <tr align="left"> <td width="217" valign="top" style='width:162.55pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capitalized software costs………</p> </td> <td width="153" valign="top" style='width:114.45pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3 to 5 years</p> </td> </tr> <tr align="left"> <td width="217" valign="top" style='width:162.55pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Other equipment…………………</p> </td> <td width="153" valign="top" style='width:114.45pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3 to 10 years</p> </td> </tr> </table> </div> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company reviews the carrying value of property, plant and equipment for impairment whenever events and circumstances indicate that the carrying value of an asset may not be recoverable from the estimated future cash flows expected to result from its use and eventual disposition.  In cases where undiscounted expected future cash flows are less than the carrying value, an impairment loss is recognized equal to an amount by which the carrying value exceeds the fair value of assets.  There were no triggering events requiring assessment of impairment as of December 31, 2018 and 2017.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>When properties are retired or sold, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss on disposition is recognized in current operations.  Maintenance, repairs and minor betterments that do not improve the related asset or extend its useful life are charged to operations as incurred. </p>
P15Y
P40Y
P10Y
P40Y
P5Y
P18Y
P3Y
P5Y
P3Y
P10Y
<p style='margin:0in;margin-bottom:.0001pt'><b>Income Taxes—</b>Deferred income taxes are determined under the asset and liability method.  Deferred income taxes arise from temporary differences between the income tax basis of assets and liabilities and their reported amounts in the financial statements.  Deferred taxes are shown on the balance sheet as a net long-term asset or liability.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company applies a comprehensive model for the financial statement recognition, measurement, classification and disclosure of uncertain tax positions. In the first step of the two-step process, the Company evaluates the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. In the second step, the Company measures the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. As of December 31, 2018 and 2017, the Company determined that there are no uncertain tax positions with a more than 50% likelihood of being realized upon settlement.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company classifies interest and penalties related to unrecognized tax benefits as a component of income tax expense.  There were no such expenses in 2018 or 2017.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company’s federal income tax returns for the 2015 through 2017 tax years are subject to examination by the Internal Revenue Service (“IRS”).  While it may be possible that a reduction could occur with respect to the Company’s unrecognized tax benefits as an outcome of an IRS examination, management does not anticipate any adjustments that would result in a material change to the results of operations or financial condition of the Company.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>No statutes have been extended on any of the Company’s federal income tax filings. The statute of limitations on the Company’s 2015, 2016 and 2017 federal income tax returns will expire on September 15, 2019, 2020 and 2021, respectively.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company’s state income tax returns for the 2015 through 2017 tax years are subject to examination by various state authorities with the latest closing period on October 31, 2021.  The Company is currently not under examination by any state authority for income tax purposes and no statutes for state income tax filings have been extended.</p>
0
0
0
0
<p>Segment Information-<font style='font-weight:normal'>The Company reports segment information based on the internal structure and reporting of the Company’s operations.</font></p>
<p style='margin:0in;margin-bottom:.0001pt'><b>Net Income Per Share-</b>Net income per share of common stock is based on the weighted average number of shares outstanding of 966,132 in 2018 and 2017.</p>
966132
966132
<p style='margin:0in;margin-bottom:.0001pt'><b>Use of Estimates-</b>The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes.  Significant items subject to estimates and assumptions include depreciable lives, deferred taxes and valuation allowances for accounts receivable and inventory obsolescence.  Actual results could differ from those estimates.</p>
<p style='margin:0in;margin-bottom:.0001pt'><b>Recent Accounting Pronouncements-</b> In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (”ASU”) No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software.  The guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years, with early adoption permitted. The guidance can be applied prospectively or retrospectively. We expect to adopt this standard effective January 1, 2020 and are currently evaluating the impact that it will have on our consolidated financial statements and disclosures.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. This may result in the earlier recognition of allowances for losses. The new guidance is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. Management has not yet completed its assessment of the impact of the new standard on the Company’s consolidated financial statements. Currently, the Company believes that the most notable impact of this ASU may relate to its processes around the assessment of the adequacy of its allowance for doubtful accounts on trade accounts receivable.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU is intended to increase transparency and comparability among entities by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements when the lease has a term of more than 12 months.  The ASU will require lessees to recognize in the balance sheet a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term.  The ASU is effective for annual reporting periods beginning after December 15, 2018 and interim periods within those annual periods.  The impact of adopting this ASU is not expected to be significant based on current lease agreements.</p>
<p style='margin:0in;margin-bottom:.0001pt'><b>2-Balance Sheet Details</b></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:31.5pt;border-collapse:collapse'> <tr align="left"> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>December 31,</b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>2018</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>December 31,</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2017</p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Inventories:</p> </td> <td valign="bottom" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td valign="bottom" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Raw materials</p> </td> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$ 2,798,918 </b></p> </td> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ 1,812,603 </p> </td> </tr> <tr align="left"> <td valign="bottom" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Work in process</p> </td> <td valign="bottom" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>1,878,977 </b></p> </td> <td valign="bottom" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,604,867 </p> </td> </tr> <tr align="left"> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Finished goods</p> </td> <td valign="bottom" style='border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>2,001,496 </b></p> </td> <td valign="bottom" style='border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,674,630 </p> </td> </tr> <tr align="left"> <td valign="bottom" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="bottom" style='border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>6,679,391 </b></p> </td> <td valign="bottom" style='border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,092,100 </p> </td> </tr> <tr align="left"> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Valuation reserves</p> </td> <td valign="bottom" style='border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>(579,000) </b></p> </td> <td valign="bottom" style='border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(564,000) </p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="bottom" style='border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$ 6,100,391 </b></p> </td> <td valign="bottom" style='border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ 4,528,100 </p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:22.5pt;border-collapse:collapse'> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="120" valign="top" style='width:1.25in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>December 31,</b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>2018</b></p> </td> <td width="120" valign="top" style='width:1.25in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>December 31,</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2017</p> </td> </tr> <tr style='height:13.95pt'> <td width="316" valign="top" style='width:237.35pt;padding:0in 5.4pt 0in 5.4pt;height:13.95pt'> <p style='margin:0in;margin-bottom:.0001pt'>Property, Plant and Equipment, net:</p> </td> <td width="120" valign="top" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt;height:13.95pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="120" valign="top" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt;height:13.95pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> </tr> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Land and improvements</p> </td> <td width="120" valign="bottom" style='width:1.25in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>  $       1,632,299 </b></p> </td> <td width="120" valign="bottom" style='width:1.25in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  $       1,571,552 </p> </td> </tr> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Buildings and improvements</p> </td> <td width="120" valign="bottom" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>           8,292,749 </b></p> </td> <td width="120" valign="bottom" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>           8,039,831 </p> </td> </tr> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Machinery and equipment</p> </td> <td width="120" valign="bottom" style='width:1.25in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>         34,196,661 </b></p> </td> <td width="120" valign="bottom" style='width:1.25in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>         33,208,675 </p> </td> </tr> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capitalized software and other</p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>           1,372,215 </b></p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>           1,362,714 </p> </td> </tr> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>         45,493,924 </b></p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>         44,182,772 </p> </td> </tr> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Accumulated depreciation</p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>         (32,235,778)</b></p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>         (31,625,819)</p> </td> </tr> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>  $    13,258,146 </b></p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  $    12,556,953 </p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:13.5pt;border-collapse:collapse'> <tr align="left"> <td width="354" valign="top" style='width:265.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="102" valign="top" style='width:76.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>December 31,</b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>2018</b></p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>December 31,</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2017</p> </td> </tr> <tr align="left"> <td width="354" valign="top" style='width:265.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Other Accrued Expenses:</p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="354" valign="top" style='width:265.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Profit sharing plan contribution</p> </td> <td width="102" valign="top" style='width:76.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>  $    277,743</b></p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  $   266,398</p> </td> </tr> <tr align="left"> <td width="354" valign="top" style='width:265.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Property taxes</p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>          91,527</b></p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>        92,620</p> </td> </tr> <tr align="left"> <td width="354" valign="top" style='width:265.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  All other items </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>        106,703</b></p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>       136,114</p> </td> </tr> <tr align="left"> <td width="354" valign="top" style='width:265.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>  $    475,973</b></p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  $   495,132</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:55.7pt;border-collapse:collapse'> <tr align="left"> <td width="336" valign="top" style='width:3.5in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>December 31,</b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>2018</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>December 31,</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2017</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Allowance for Doubtful Accounts:</p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Balance at beginning of year………………………….</p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$ 140,000</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   150,000</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Charges to statement of income……………………...</p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>0</b></p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,435</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Write-offs………………………………………………...</p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>0</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(16,435)</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Balance at end of year…………………………………</p> </td> <td valign="top" style='border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$   140,000</b></p> </td> <td valign="top" style='border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   140,000</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:55.7pt;border-collapse:collapse'> <tr align="left"> <td width="336" valign="top" style='width:3.5in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>December 31,</b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>2018</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>December 31,</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2017</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Inventory Valuation Reserves:</p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Balance at beginning of year………………………….</p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$ 564,000</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   562,000</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Charges to statement of income……………………...</p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>17,870</b></p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>75,023</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Write-offs………………………………………………...</p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>(2,870)</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(73,023)</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Balance at end of year…………………………………</p> </td> <td valign="top" style='border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$   579,000</b></p> </td> <td valign="top" style='border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   564,000</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p>
<p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:31.5pt;border-collapse:collapse'> <tr align="left"> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>December 31,</b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>2018</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>December 31,</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2017</p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Inventories:</p> </td> <td valign="bottom" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td valign="bottom" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Raw materials</p> </td> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$ 2,798,918 </b></p> </td> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ 1,812,603 </p> </td> </tr> <tr align="left"> <td valign="bottom" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Work in process</p> </td> <td valign="bottom" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>1,878,977 </b></p> </td> <td valign="bottom" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,604,867 </p> </td> </tr> <tr align="left"> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Finished goods</p> </td> <td valign="bottom" style='border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>2,001,496 </b></p> </td> <td valign="bottom" style='border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,674,630 </p> </td> </tr> <tr align="left"> <td valign="bottom" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="bottom" style='border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>6,679,391 </b></p> </td> <td valign="bottom" style='border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,092,100 </p> </td> </tr> <tr align="left"> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Valuation reserves</p> </td> <td valign="bottom" style='border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>(579,000) </b></p> </td> <td valign="bottom" style='border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(564,000) </p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="bottom" style='border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$ 6,100,391 </b></p> </td> <td valign="bottom" style='border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ 4,528,100 </p> </td> </tr> </table>
2798918
1812603
1878977
1604867
2001496
1674630
-579000
-564000
6100391
4528100
<p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:22.5pt;border-collapse:collapse'> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="120" valign="top" style='width:1.25in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>December 31,</b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>2018</b></p> </td> <td width="120" valign="top" style='width:1.25in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>December 31,</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2017</p> </td> </tr> <tr style='height:13.95pt'> <td width="316" valign="top" style='width:237.35pt;padding:0in 5.4pt 0in 5.4pt;height:13.95pt'> <p style='margin:0in;margin-bottom:.0001pt'>Property, Plant and Equipment, net:</p> </td> <td width="120" valign="top" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt;height:13.95pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="120" valign="top" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt;height:13.95pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> </tr> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Land and improvements</p> </td> <td width="120" valign="bottom" style='width:1.25in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>  $       1,632,299 </b></p> </td> <td width="120" valign="bottom" style='width:1.25in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  $       1,571,552 </p> </td> </tr> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Buildings and improvements</p> </td> <td width="120" valign="bottom" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>           8,292,749 </b></p> </td> <td width="120" valign="bottom" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>           8,039,831 </p> </td> </tr> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Machinery and equipment</p> </td> <td width="120" valign="bottom" style='width:1.25in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>         34,196,661 </b></p> </td> <td width="120" valign="bottom" style='width:1.25in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>         33,208,675 </p> </td> </tr> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capitalized software and other</p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>           1,372,215 </b></p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>           1,362,714 </p> </td> </tr> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>         45,493,924 </b></p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>         44,182,772 </p> </td> </tr> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Accumulated depreciation</p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>         (32,235,778)</b></p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>         (31,625,819)</p> </td> </tr> <tr align="left"> <td width="316" valign="top" style='width:237.35pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>  $    13,258,146 </b></p> </td> <td width="120" valign="bottom" style='width:1.25in;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  $    12,556,953 </p> </td> </tr> </table>
1632299
1571552
8292749
8039831
34196661
33208675
1372215
1362714
32235778
31625819
13258146
12556953
<p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:13.5pt;border-collapse:collapse'> <tr align="left"> <td width="354" valign="top" style='width:265.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="102" valign="top" style='width:76.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>December 31,</b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>2018</b></p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>December 31,</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2017</p> </td> </tr> <tr align="left"> <td width="354" valign="top" style='width:265.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Other Accrued Expenses:</p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="354" valign="top" style='width:265.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Profit sharing plan contribution</p> </td> <td width="102" valign="top" style='width:76.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>  $    277,743</b></p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  $   266,398</p> </td> </tr> <tr align="left"> <td width="354" valign="top" style='width:265.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Property taxes</p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>          91,527</b></p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>        92,620</p> </td> </tr> <tr align="left"> <td width="354" valign="top" style='width:265.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  All other items </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>        106,703</b></p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>       136,114</p> </td> </tr> <tr align="left"> <td width="354" valign="top" style='width:265.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>  $    475,973</b></p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  $   495,132</p> </td> </tr> </table>
277743
266398
91527
92620
106703
136114
475973
495132
<p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:55.7pt;border-collapse:collapse'> <tr align="left"> <td width="336" valign="top" style='width:3.5in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>December 31,</b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>2018</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>December 31,</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2017</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Allowance for Doubtful Accounts:</p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Balance at beginning of year………………………….</p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$ 140,000</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   150,000</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Charges to statement of income……………………...</p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>0</b></p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,435</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Write-offs………………………………………………...</p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>0</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(16,435)</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Balance at end of year…………………………………</p> </td> <td valign="top" style='border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$   140,000</b></p> </td> <td valign="top" style='border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   140,000</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:55.7pt;border-collapse:collapse'> <tr align="left"> <td width="336" valign="top" style='width:3.5in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>December 31,</b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>2018</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>December 31,</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2017</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Inventory Valuation Reserves:</p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Balance at beginning of year………………………….</p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$ 564,000</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   562,000</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Charges to statement of income……………………...</p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>17,870</b></p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>75,023</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Write-offs………………………………………………...</p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>(2,870)</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(73,023)</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  Balance at end of year…………………………………</p> </td> <td valign="top" style='border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$   579,000</b></p> </td> <td valign="top" style='border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   564,000</p> </td> </tr> </table>
150000
0
6435
0
-16435
140000
140000
562000
17870
75023
-2870
-73023
579000
564000
<p style='margin:0in;margin-bottom:.0001pt'><b>3-Income Taxes—</b>The provision for income tax expense consists of the following:</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b><u>2018</u></b></p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>2017</u></p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Current:</p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Federal…………………………..</p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$     351,000</b></p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$      647,000</p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>State………………………………</p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>20,000</b></p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>31,000</p> </td> </tr> <tr align="left"> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Deferred……………………………</p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>184,000</b></p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(291,000)</p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$     555,000</b></p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$      387,000</p> </td> </tr> </table> </div> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>On December 22, 2017, the Tax Cuts and Jobs Act (the “Act”) was signed into law. The Act includes significant changes to the taxation of corporations, including a reduction in the top corporate tax rate from 35% to 21%, effective January 1, 2018. Due to the enactment of the new tax law, we re-measured our deferred tax assets and liabilities using the rate at which we expect them to be recovered or settled. As a result, the Company recognized a $432,000 tax benefit for the year ended December 31, 2017 that is reflected in the 2017 income tax expense.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The following is a reconciliation of the statutory federal income tax rate to the actual effective tax rate:</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="288" valign="top" style='width:3.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>2018</b></p> </td> <td width="16" valign="top" style='width:11.8pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="46" valign="top" style='width:34.55pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="15" valign="top" style='width:11.1pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2017</p> </td> <td width="15" valign="top" style='width:11.1pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="42" valign="top" style='width:31.4pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> </tr> <tr align="left"> <td width="288" valign="top" style='width:3.0in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>Amount</b></p> </td> <td width="16" valign="top" style='width:11.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="46" valign="top" style='width:34.55pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>%</b></p> </td> <td width="15" valign="top" style='width:11.1pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Amount</p> </td> <td width="15" valign="top" style='width:11.1pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="42" valign="top" style='width:31.4pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>%</p> </td> </tr> <tr align="left"> <td width="288" valign="top" style='width:3.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Expected tax at U.S. statutory rate…………</p> </td> <td width="96" valign="top" style='width:1.0in;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$     537</b><b>,000<font style='display:none'> </font></b></p> </td> <td width="16" valign="top" style='width:11.8pt;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="46" valign="top" style='width:34.55pt;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>21.0</b></p> </td> <td width="15" valign="top" style='width:11.1pt;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>  $     838,000</p> </td> <td width="15" valign="top" style='width:11.1pt;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="42" valign="top" style='width:31.4pt;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>34.0</p> </td> </tr> <tr align="left"> <td width="288" valign="top" style='width:3.0in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Impact of the Act……………………………..</p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b> </b><b>0</b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="46" valign="top" style='width:34.55pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>0</b></p> </td> <td width="15" valign="top" style='width:11.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(432,000)</p> </td> <td width="15" valign="top" style='width:11.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="42" valign="top" style='width:31.4pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(17.5)</p> </td> </tr> <tr align="left"> <td width="288" valign="top" style='width:3.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Permanent differences………………………</p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>2,000</b></p> </td> <td width="16" valign="top" style='width:11.8pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="46" valign="top" style='width:34.55pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>0.1</b><font style='display:none'> </font></p> </td> <td width="15" valign="top" style='width:11.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(39,000)</p> </td> <td width="15" valign="top" style='width:11.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="42" valign="top" style='width:31.4pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> (1.6)</p> </td> </tr> <tr align="left"> <td width="288" valign="top" style='width:3.0in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>State taxes, net of federal benefit………….</p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>16,000</b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="46" valign="top" style='width:34.55pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>0.6</b></p> </td> <td width="15" valign="top" style='width:11.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>20,000</p> </td> <td width="15" valign="top" style='width:11.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="42" valign="top" style='width:31.4pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0.8</p> </td> </tr> <tr align="left"> <td width="288" valign="top" style='width:3.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Income tax expense…………………………</p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$     555,000</b></p> </td> <td width="16" valign="top" style='width:11.8pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="46" valign="top" style='width:34.55pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>21.7</b></p> </td> <td width="15" valign="top" style='width:11.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$    387,000</p> </td> <td width="15" valign="top" style='width:11.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="42" valign="top" style='width:31.4pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>15.7</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company’s effective tax rate was lower than the U.S. federal statutory rate in 2017 primarily due to the impact of the new tax law.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The deferred tax assets (liabilities) consist of the following:</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr style='height:.25in'> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b><u>2018</u></b></p> </td> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>2017</u></p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Depreciation and amortization</p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b> $  (1,190,597)</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  $ (988,334)</p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Inventory</p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>        164,220 </b></p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>     149,460 </p> </td> </tr> <tr align="left"> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Accrued vacation</p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>          74,177 </b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>       70,973 </p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Allowance for doubtful accounts</p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>          31,500 </b></p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>       31,500 </p> </td> </tr> <tr align="left"> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Other, net</p> </td> <td valign="top" style='border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>              (384)</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>           (683)</p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b> $     (921,084)</b></p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  $ (737,084)</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>Valuation allowances related to deferred taxes are recorded based on the “more likely than not” realization criteria.  The Company reviews the need for a valuation allowance on a quarterly basis for each of its tax jurisdictions.  A deferred tax valuation allowance was not required at December 31, 2018 or 2017.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p>
<p style='margin:0in;margin-bottom:.0001pt'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b><u>2018</u></b></p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>2017</u></p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Current:</p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Federal…………………………..</p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$     351,000</b></p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$      647,000</p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>State………………………………</p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>20,000</b></p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>31,000</p> </td> </tr> <tr align="left"> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Deferred……………………………</p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>184,000</b></p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(291,000)</p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$     555,000</b></p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$      387,000</p> </td> </tr> </table> </div>
351000
647000
20000
31000
184000
-291000
<p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="288" valign="top" style='width:3.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>2018</b></p> </td> <td width="16" valign="top" style='width:11.8pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="46" valign="top" style='width:34.55pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="15" valign="top" style='width:11.1pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2017</p> </td> <td width="15" valign="top" style='width:11.1pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="42" valign="top" style='width:31.4pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> </tr> <tr align="left"> <td width="288" valign="top" style='width:3.0in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>Amount</b></p> </td> <td width="16" valign="top" style='width:11.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="46" valign="top" style='width:34.55pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>%</b></p> </td> <td width="15" valign="top" style='width:11.1pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Amount</p> </td> <td width="15" valign="top" style='width:11.1pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="42" valign="top" style='width:31.4pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>%</p> </td> </tr> <tr align="left"> <td width="288" valign="top" style='width:3.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Expected tax at U.S. statutory rate…………</p> </td> <td width="96" valign="top" style='width:1.0in;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$     537</b><b>,000<font style='display:none'> </font></b></p> </td> <td width="16" valign="top" style='width:11.8pt;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="46" valign="top" style='width:34.55pt;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>21.0</b></p> </td> <td width="15" valign="top" style='width:11.1pt;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>  $     838,000</p> </td> <td width="15" valign="top" style='width:11.1pt;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="42" valign="top" style='width:31.4pt;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>34.0</p> </td> </tr> <tr align="left"> <td width="288" valign="top" style='width:3.0in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Impact of the Act……………………………..</p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b> </b><b>0</b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="46" valign="top" style='width:34.55pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>0</b></p> </td> <td width="15" valign="top" style='width:11.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(432,000)</p> </td> <td width="15" valign="top" style='width:11.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="42" valign="top" style='width:31.4pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(17.5)</p> </td> </tr> <tr align="left"> <td width="288" valign="top" style='width:3.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Permanent differences………………………</p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>2,000</b></p> </td> <td width="16" valign="top" style='width:11.8pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="46" valign="top" style='width:34.55pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>0.1</b><font style='display:none'> </font></p> </td> <td width="15" valign="top" style='width:11.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(39,000)</p> </td> <td width="15" valign="top" style='width:11.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="42" valign="top" style='width:31.4pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> (1.6)</p> </td> </tr> <tr align="left"> <td width="288" valign="top" style='width:3.0in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>State taxes, net of federal benefit………….</p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>16,000</b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="46" valign="top" style='width:34.55pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>0.6</b></p> </td> <td width="15" valign="top" style='width:11.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>20,000</p> </td> <td width="15" valign="top" style='width:11.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="42" valign="top" style='width:31.4pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0.8</p> </td> </tr> <tr align="left"> <td width="288" valign="top" style='width:3.0in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Income tax expense…………………………</p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$     555,000</b></p> </td> <td width="16" valign="top" style='width:11.8pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="46" valign="top" style='width:34.55pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>21.7</b></p> </td> <td width="15" valign="top" style='width:11.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$    387,000</p> </td> <td width="15" valign="top" style='width:11.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="42" valign="top" style='width:31.4pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>15.7</p> </td> </tr> </table>
537000
0.2100
838000
0.3400
0
0.0000
-432000
-0.1750
2000
0.0010
-39000
-0.0160
16000
0.0060
20000
0.0080
555000
0.2170
387000
0.1570
<p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr style='height:.25in'> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b><u>2018</u></b></p> </td> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td valign="bottom" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>2017</u></p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Depreciation and amortization</p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b> $  (1,190,597)</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  $ (988,334)</p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Inventory</p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>        164,220 </b></p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>     149,460 </p> </td> </tr> <tr align="left"> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Accrued vacation</p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>          74,177 </b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>       70,973 </p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Allowance for doubtful accounts</p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>          31,500 </b></p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>       31,500 </p> </td> </tr> <tr align="left"> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Other, net</p> </td> <td valign="top" style='border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>              (384)</b></p> </td> <td valign="top" style='background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>           (683)</p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b> $     (921,084)</b></p> </td> <td valign="top" style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td valign="top" style='border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>  $ (737,084)</p> </td> </tr> </table>
-1190597
-988334
164220
149460
74177
70973
31500
31500
-384
-683
921084
737084
0
0
<p style='margin:0in;margin-bottom:.0001pt'><b>4-Profit Sharing Plan-</b>The Company has a noncontributory profit sharing plan covering substantially all employees.  Total expenses relating to the profit sharing plan amounted to approximately $278,000 in 2018 and $266,000 in 2017.</p>
278000
266000
<p style='margin:0in;margin-bottom:.0001pt'><b>5-Other Income-</b>consists of the following:</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:29.85pt;border-collapse:collapse'> <tr align="left"> <td width="212" valign="top" style='width:159.15pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="85" valign="top" style='width:63.65pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b><u>2018</u></b></p> </td> <td width="16" valign="top" style='width:11.8pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="91" valign="top" style='width:68.55pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>2017</u></p> </td> </tr> <tr align="left"> <td width="212" valign="top" style='width:159.15pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="85" valign="top" style='width:63.65pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="91" valign="top" style='width:68.55pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="212" valign="top" style='width:159.15pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Interest income….</p> </td> <td width="85" valign="bottom" style='width:63.65pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$ 120,141 </b></p> </td> <td width="16" valign="bottom" style='width:11.8pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="91" valign="bottom" style='width:68.55pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ 75,926 </p> </td> </tr> <tr align="left"> <td width="212" valign="top" style='width:159.15pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Other…………………</p> </td> <td width="85" valign="bottom" style='width:63.65pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>33,396 </b></p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="91" valign="bottom" style='width:68.55pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>24,975 </p> </td> </tr> <tr align="left"> <td width="212" valign="top" style='width:159.15pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="85" valign="bottom" style='width:63.65pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$ 153,537 </b></p> </td> <td width="16" valign="bottom" style='width:11.8pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="91" valign="bottom" style='width:68.55pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ 100,901 </p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p>
<p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:29.85pt;border-collapse:collapse'> <tr align="left"> <td width="212" valign="top" style='width:159.15pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="85" valign="top" style='width:63.65pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b><u>2018</u></b></p> </td> <td width="16" valign="top" style='width:11.8pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="91" valign="top" style='width:68.55pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>2017</u></p> </td> </tr> <tr align="left"> <td width="212" valign="top" style='width:159.15pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="85" valign="top" style='width:63.65pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="91" valign="top" style='width:68.55pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="212" valign="top" style='width:159.15pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Interest income….</p> </td> <td width="85" valign="bottom" style='width:63.65pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$ 120,141 </b></p> </td> <td width="16" valign="bottom" style='width:11.8pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="91" valign="bottom" style='width:68.55pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ 75,926 </p> </td> </tr> <tr align="left"> <td width="212" valign="top" style='width:159.15pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Other…………………</p> </td> <td width="85" valign="bottom" style='width:63.65pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>33,396 </b></p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="91" valign="bottom" style='width:68.55pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>24,975 </p> </td> </tr> <tr align="left"> <td width="212" valign="top" style='width:159.15pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="85" valign="bottom" style='width:63.65pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b>$ 153,537 </b></p> </td> <td width="16" valign="bottom" style='width:11.8pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="91" valign="bottom" style='width:68.55pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ 100,901 </p> </td> </tr> </table>
120141
75926
33396
24975
153537
100901
<p style='margin:0in;margin-bottom:.0001pt'><b>6-Segment Information-</b>The Company operates, primarily in the United States, in two business segments as determined by its products.  The fastener segment, which comprises</p> <p style='margin:0in;margin-bottom:.0001pt'>H & L Tool and the parent company’s fastener operations, includes rivets, cold-formed fasteners and parts and screw machine products.  The assembly equipment segment includes automatic rivet setting machines and parts and tools for such machines.  Information by segment is as follows:</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:-.05in;border-collapse:collapse'> <tr align="left"> <td width="239" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Fastener</u></p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Assembly Equipment</u></p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Other</u></p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Consolidated</u></p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>Year Ended December 31, 2018:</b></p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Net Sales………………………………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$      33,712,458</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$      3,461,791</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$                  0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$        37,174,249</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Depreciation……………………………………...</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,161,082</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>112,942</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>34,424</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,308,448</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment operating profit……………………………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,731,998</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,108,248</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-left:20.25pt;text-align:right'>0 </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,840,246</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Selling and administrative expenses…………..</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(2,437,598)</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(2,437,598)</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Other income……………………………………..</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>153,537</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>153,537</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Income before income taxes……………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,556,185</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capital expenditures…………………………….</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,635,115</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>49,884</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>338,191</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,023,190</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment assets:</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Accounts receivable, net……………………...</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,196,437</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>332,870</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,529,307</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Inventories, net………………………………...</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,075,290</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,025,101</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,100,391</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Property, plant and equipment, net………….</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>10,726,191</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,579,497</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>952,458</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>13,258,146</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Other assets……………………………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>8,358,781</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>8,358,781</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>33,246,625</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>Year Ended December 31, 2017:</b></p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Net Sales………………………………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$      31,977,964</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$      3,786,750</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$                  0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$        35,764,714</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Depreciation……………………………………...</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,093,476</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>100,908</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>37,162</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,231,546</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment operating profit……………………………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,574,783</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,350,111</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-left:20.25pt;text-align:right'>0 </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,924,894</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Selling and administrative expenses…………..</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(2,559,713)</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(2,559,713)</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Other income……………………………………..</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>100,901</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>100,901</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Income before income taxes……………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,466,082</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capital expenditures…………………………….</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,093,539</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>178,761</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>65,641</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,337,941</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment assets:</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Accounts receivable, net……………………...</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,080,191</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>246,459</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,326,650</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Inventories, net………………………………...</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,565,361</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>962,739</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,528,100</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Property, plant and equipment, net………….</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>10,282,910</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,642,555</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>631,488</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>12,556,953</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Other assets……………………………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,404,599</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,404,599</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>31,816,302</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'>                                                                                                                              </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company does not allocate certain selling and administrative expenses for internal reporting, thus, no allocation was made for these expenses for segment disclosure purposes.  Segment assets reported internally are limited to accounts receivable, inventory and long-lived assets.  Certain long-lived assets of one plant location are allocated between the two segments based on estimated plant utilization, as this plant serves both fastener and assembly equipment activities.  Other assets are not allocated to segments internally and to do so would be impracticable.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The following table presents revenue by segment, further disaggregated by end-market:</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>  Fastener  </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>  Assembly Equipment  </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>  Consolidated  </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Year Ended December 31, 2018:</p> </td> <td width="82" valign="bottom" style='width:61.35pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Automotive</p> </td> <td width="82" valign="bottom" style='width:61.35pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  22,215,719</p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$        237,565</p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   22,453,284</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Non-automotive</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>11,496,739</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,224,226</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>14,720,965</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Total net sales</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  33,712,458</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$     3,461,791</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   37,174,249</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Year Ended December 31, 2017:</p> </td> <td width="82" valign="bottom" style='width:61.35pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Automotive</p> </td> <td width="82" valign="bottom" style='width:61.35pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  22,527,813</p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$        192,091</p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   22,719,904</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Non-automotive</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,450,151</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,594,659</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>13,044,810</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Total net sales</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  31,977,964</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$     3,786,750</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   35,764,714</p> </td> </tr> </table> </div> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The following table presents revenue by segment, further disaggregated by location:</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>  Fastener  </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>  Assembly Equipment  </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>  Consolidated  </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Year Ended December 31, 2018:</p> </td> <td width="82" valign="bottom" style='width:61.35pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>United States</p> </td> <td width="82" valign="bottom" style='width:61.35pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  29,470,140</p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$       3,260,683</p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   32,730,823</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Foreign</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,242,318</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>201,108</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,443,426</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Total net sales</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  33,712,458</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$     3,461,791</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   37,174,249</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Year Ended December 31, 2017:</p> </td> <td width="82" valign="bottom" style='width:61.35pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>United States</p> </td> <td width="82" valign="bottom" style='width:61.35pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  27,681,055</p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$       3,684,135</p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   31,365,190</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Foreign</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,296,909</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>102,615</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,399,524</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Total net sales</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  31,977,964</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$     3,786,750</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   35,764,714</p> </td> </tr> </table> </div> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>Sales to one customer in the fastener segment accounted for 17 percent of consolidated revenues during 2018 and 19 percent in 2017.  The accounts receivable balance for this customer accounted for 15 and 25 percent of consolidated accounts receivable as of December 31, 2018 and 2017, respectively.  Sales to two other customers were each 10 percent of consolidated revenue in 2018 and accounted for 12 percent and 17 percent of consolidated accounts receivable as of December 31, 2018.</p>
<p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:-.05in;border-collapse:collapse'> <tr align="left"> <td width="239" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Fastener</u></p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Assembly Equipment</u></p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Other</u></p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Consolidated</u></p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>Year Ended December 31, 2018:</b></p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Net Sales………………………………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$      33,712,458</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$      3,461,791</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$                  0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$        37,174,249</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Depreciation……………………………………...</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,161,082</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>112,942</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>34,424</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,308,448</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment operating profit……………………………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,731,998</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,108,248</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-left:20.25pt;text-align:right'>0 </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,840,246</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Selling and administrative expenses…………..</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(2,437,598)</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(2,437,598)</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Other income……………………………………..</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>153,537</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>153,537</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Income before income taxes……………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,556,185</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capital expenditures…………………………….</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,635,115</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>49,884</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>338,191</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,023,190</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment assets:</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Accounts receivable, net……………………...</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,196,437</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>332,870</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,529,307</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Inventories, net………………………………...</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,075,290</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,025,101</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,100,391</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Property, plant and equipment, net………….</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>10,726,191</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,579,497</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>952,458</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>13,258,146</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Other assets……………………………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>8,358,781</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>8,358,781</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>33,246,625</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>Year Ended December 31, 2017:</b></p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Net Sales………………………………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$      31,977,964</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$      3,786,750</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$                  0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$        35,764,714</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Depreciation……………………………………...</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,093,476</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>100,908</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>37,162</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,231,546</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment operating profit……………………………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,574,783</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,350,111</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-left:20.25pt;text-align:right'>0 </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,924,894</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Selling and administrative expenses…………..</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(2,559,713)</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(2,559,713)</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Other income……………………………………..</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>100,901</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>100,901</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Income before income taxes……………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,466,082</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capital expenditures…………………………….</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,093,539</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>178,761</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>65,641</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,337,941</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment assets:</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Accounts receivable, net……………………...</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,080,191</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>246,459</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,326,650</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Inventories, net………………………………...</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,565,361</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>962,739</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,528,100</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Property, plant and equipment, net………….</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>10,282,910</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,642,555</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>631,488</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>12,556,953</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>   Other assets……………………………………</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,404,599</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,404,599</p> </td> </tr> <tr align="left"> <td width="239" valign="bottom" style='width:179.1pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>31,816,302</p> </td> </tr> </table>
33712458
3461791
0
1161082
112942
34424
3731998
1108248
0
0
0
-2437598
0
0
153537
1635115
49884
338191
5196437
332870
0
5075290
1025101
0
10726191
1579497
952458
0
0
8358781
31977964
3786750
0
1093476
100908
37162
3574783
1350111
0
0
0
-2559713
0
0
100901
1093539
178761
65641
5080191
246459
0
3565361
962739
0
10282910
1642555
631488
0
0
9404599
<p style='margin:0in;margin-bottom:.0001pt'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>  Fastener  </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>  Assembly Equipment  </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>  Consolidated  </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Year Ended December 31, 2018:</p> </td> <td width="82" valign="bottom" style='width:61.35pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Automotive</p> </td> <td width="82" valign="bottom" style='width:61.35pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  22,215,719</p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$        237,565</p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   22,453,284</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Non-automotive</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>11,496,739</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,224,226</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>14,720,965</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Total net sales</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  33,712,458</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$     3,461,791</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   37,174,249</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Year Ended December 31, 2017:</p> </td> <td width="82" valign="bottom" style='width:61.35pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Automotive</p> </td> <td width="82" valign="bottom" style='width:61.35pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  22,527,813</p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$        192,091</p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   22,719,904</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Non-automotive</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,450,151</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,594,659</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>13,044,810</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Total net sales</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  31,977,964</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$     3,786,750</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   35,764,714</p> </td> </tr> </table> </div> <p style='margin:0in;margin-bottom:.0001pt'> </p>
22215719
237565
22453284
11496739
3224226
14720965
22527813
192091
22719904
9450151
3594659
13044810
<p style='margin:0in;margin-bottom:.0001pt'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>  Fastener  </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>  Assembly Equipment  </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>  Consolidated  </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Year Ended December 31, 2018:</p> </td> <td width="82" valign="bottom" style='width:61.35pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>United States</p> </td> <td width="82" valign="bottom" style='width:61.35pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  29,470,140</p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$       3,260,683</p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   32,730,823</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Foreign</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,242,318</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>201,108</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,443,426</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Total net sales</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  33,712,458</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$     3,461,791</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   37,174,249</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Year Ended December 31, 2017:</p> </td> <td width="82" valign="bottom" style='width:61.35pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" valign="bottom" style='width:67.5pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>United States</p> </td> <td width="82" valign="bottom" style='width:61.35pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  27,681,055</p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$       3,684,135</p> </td> <td width="90" valign="bottom" style='width:67.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   31,365,190</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Foreign</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,296,909</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>102,615</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#F5F5FF;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,399,524</p> </td> </tr> <tr align="left"> <td width="200" valign="bottom" style='width:150.15pt;padding:0in 2.0pt 0in 2.0pt'> <p style='margin:0in;margin-bottom:.0001pt'>Total net sales</p> </td> <td width="82" valign="bottom" style='width:61.35pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$  31,977,964</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$     3,786,750</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.0pt 0in 2.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$   35,764,714</p> </td> </tr> </table> </div> <p style='margin:0in;margin-bottom:.0001pt'> </p>
29470140
3260683
32730823
4242318
201108
4443426
33712458
3461791
37174249
27681055
3684135
31365190
4296909
102615
4399524
31977964
3786750
35764714
0.1700
0.1900
15
25
0.1000
0.1000
12
17
<p style='margin:0in;margin-bottom:.0001pt'><b>7-Commitments and Contingencies-</b>The Company recorded rent expense aggregating approximately $26,000 and $30,000 in 2018 and 2017, respectively.  Total future minimum rentals at December 31, 2018 are not significant.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company is, from time to time involved in litigation, including environmental claims, in the normal course of business.  While it is not possible at this time to establish the ultimate amount of liability with respect to contingent liabilities, including those related to legal proceedings, management is of the opinion that the aggregate amount of any such liabilities, for which provision has not been made, will not have a material adverse effect on the Company's financial position.</p>
26000
30000
<p style='margin:0in;margin-bottom:.0001pt'><b>8</b><b>-</b><b>Subsequent Events</b><b>-</b>On February 18, 2019, the Board of Directors declared a regular quarterly dividend of $.22 per share, or $212,549, and an extra dividend of $.30 per share, or $289,840, payable March 20, 2019 to shareholders of record on March 5, 2019.</p>
2019-02-18
0.22
212549
0.30
289840
2019-03-20
2019-03-05
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2018-01-01
2018-12-31
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2018-12-31
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2018-06-30
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2018-12-31
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2017-12-31
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2016-12-31
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2018-01-01
2018-12-31
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2018-12-31
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2017-01-01
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2017-01-01
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2017-12-31
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2017-12-31
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2017-12-31
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2018-01-01
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2018-01-01
2018-12-31
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2018-01-01
2018-12-31
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2018-01-01
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2017-12-31
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2017-01-01
2017-12-31
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2017-01-01
2017-12-31
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2017-01-01
2017-12-31
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2017-01-01
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