SCI Engineered Materials (SCIA) 10-K3 Feb 232022 FY Annual reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2022	Feb. 02, 2023	Jun. 30, 2022
Document And Entity Information
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2022
Entity File Number	0-31641
Entity Registrant Name	SCI ENGINEERED MATERIALS, INC.
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	31-1210318
Entity Address, Address Line One	2839 Charter Street
Entity Address, City or Town	Columbus
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43228
City Area Code	614
Local Phone Number	486-0261
Title of 12(b) Security	Common stock, without par value
Trading Symbol	SCIA
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,519,524
Entity Central Index Key	0000830616
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
ICFR Auditor Attestation Flag	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Public Float			$ 9,971,863
Auditor Name	GBQ Partners LLC
Auditor Firm ID	1808
Auditor Location	Columbus, Ohio

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current Assets
Cash	$ 3,947,966	$ 4,140,942
Investments - marketable securities, short term	989,265
Accounts receivable Trade, less allowance for doubtful accounts of $15,000	842,647	425,327
Accounts receivable Tax - Employee Retention Credit	40,539	105,000
Other	12,653	1,250
Inventories, net	2,177,917	1,073,218
Prepaid expenses	136,134	678,357
Total current assets	8,147,121	6,424,094
Property and Equipment, at cost
Machinery and equipment	8,584,871	7,949,746
Furniture and fixtures	142,471	132,365
Leasehold improvements	607,156	596,867
Construction in progress	28,708	287,510
Property, Plant and Equipment, Gross	9,363,206	8,966,488
Less accumulated depreciation and amortization	(7,101,573)	(6,809,850)
Property, Plant and Equipment, Net	2,261,633	2,156,638
Investment - marketable securities, long term	1,000,000
Right of use asset, net	185,072	274,298
Deferred tax asset	151,164	663,820
Other assets	85,138	89,552
Total other assets	1,421,374	1,027,670
TOTAL ASSETS	11,830,128	9,608,402
Current Liabilities
Finance lease obligations, current portion	97,367	96,702
Operating lease obligations, current portion	105,789	97,292
Accounts payable	514,512	250,383
Customer deposits	1,825,595	1,724,556
Accrued compensation	270,168	225,190
Accrued expenses and other	122,065	122,836
Total current liabilities	2,935,496	2,516,959
Finance lease obligations, net of current portion	49,149	146,516
Operating lease obligations, net of current portion	99,834	205,623
Total liabilities	3,084,479	2,869,098
Shareholders' Equity
Common stock, no par value, authorized 15,000,000 shares; 4,519,524 and 4,506,269 shares issued and outstanding, respectively	10,618,435	10,573,843
Additional paid-in capital	2,231,807	2,227,078
Accumulated deficit	(4,104,593)	(6,061,617)
Total shareholders' equity	8,745,649	6,739,304
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 11,830,128	$ 9,608,402

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
BALANCE SHEETS
Allowance for doubtful accounts (in dollars)	$ 15,000	$ 15,000
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	4,519,524	4,506,269
Common stock, shares outstanding	4,519,524	4,506,269

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2022	Dec. 31, 2021
STATEMENTS OF OPERATIONS
Revenue	$ 23,467,030	$ 13,448,021
Revenue, Product and Service [Extensible Enumeration]	us-gaap:ProductMember	us-gaap:ProductMember
Cost of revenue	$ 18,680,075	$ 9,918,766
Cost, Product and Service [Extensible Enumeration]	us-gaap:ProductMember	us-gaap:ProductMember
Gross profit	$ 4,786,955	$ 3,529,255
General and administrative expense	1,549,696	1,280,579
Research and development expense	375,728	235,679
Marketing and sales expense	381,313	235,091
Income from operations	2,480,218	1,777,906
Gain on extinguishment of debt		(325,300)
Interest (income) expense	(19,201)	32,140
Income before provision for income taxes	2,499,419	2,071,066
Income tax expense	542,395	392,242
Net income	1,957,024	1,678,824
Dividends on preferred stock		24,152
INCOME APPLICABLE TO COMMON STOCK	$ 1,957,024	$ 1,654,672
Income per common share
Basic (In dollars per share)	$ 0.43	$ 0.37
Diluted (In dollars per share)	$ 0.43	$ 0.37
Weighted average shares outstanding
Basic (In shares)	4,515,002	4,495,678
Diluted (In shares)	4,542,891	4,523,690

STATEMENTS OF SHAREHOLDERS' EQU

STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)	Preferred Stock Convertible Preferred Stock, Series B	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Convertible Preferred Stock, Series B	Total
Balance at Dec. 31, 2020	$ 514,438	$ 10,530,669	$ 2,246,501	$ (7,740,441)		$ 5,551,167
Accretion of cumulative dividends	24,152		(24,152)
Stock based compensation expense (Note 2J)			4,729			4,729
Payment of dividend redemption (Note 8)	(248,766)				$ (248,766)	(248,766)
Payment of cumulative dividends (Note 8)	$ (289,824)					(289,824)
Common stock issued (Note 8)		43,174				43,174
Net income				1,678,824		1,678,824
Balance at Dec. 31, 2021		10,573,843	2,227,078	(6,061,617)		6,739,304
Stock based compensation expense (Note 2J)			4,729			4,729
Common stock issued (Note 8)		44,592				44,592
Net income				1,957,024		1,957,024
Balance at Dec. 31, 2022		$ 10,618,435	$ 2,231,807	$ (4,104,593)		$ 8,745,649

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 1,957,024	$ 1,678,824
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and accretion	425,391	429,066
Amortization of right of use asset	89,226	83,099
Amortization of patents	4,414	4,414
Stock based compensation	49,321	47,903
Gain on disposal of equipment	18,321	2,522
Deferred tax asset	512,656	355,497
Gain on extinguishment of debt		(325,300)
Inventory reserve	(14,987)	1,200
Changes in operating assets and liabilities:
Accounts receivable	(364,262)	(72,107)
Inventories	(1,089,711)	105,941
Prepaid expenses	542,223	(547,023)
Other assets		2,658
Accounts payable	264,129	103,099
Operating lease obligations	(97,292)	(88,918)
Accrued expenses and customer deposits	138,344	834,717
Net cash provided by operating activities	2,398,155	2,610,548
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds on sale of equipment	31,149	18,091
Purchases of marketable securities	(1,989,265)
Purchases of property and equipment	(536,313)	(706,242)
Net cash used in investing activities	(2,494,429)	(688,151)
CASH FLOWS FROM FINANCING ACTIVITIES
Payments of dividend redemption on preferred stock		(248,766)
Payment of cumulative dividends on preferred stock		(289,824)
Principal payments on finance lease obligations and notes payable	(96,702)	(160,416)
Net cash used in financing activities	(96,702)	(699,006)
NET (DECREASE) INCREASE IN CASH	(192,976)	1,223,391
CASH - Beginning of year	4,140,942	2,917,551
CASH - End of period	3,947,966	4,140,942
Cash paid during the period for:
Interest	8,600	12,210
Income taxes	24,935	36,745
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES
Increase in asset retirement obligation	$ 6,900	$ 6,900

Business Organization and Purpo

Business Organization and Purpose	12 Months Ended
Business Organization and Purpose	Dec. 31, 2022
Business Organization and Purpose
Business Organization and Purpose	Note 1. Business Organization and Purpose SCI Engineered Materials, Inc. (“SCI”, “we” or the “Company”), an Ohio corporation, was incorporated in 1987. The Company operates in one segment as a global supplier and manufacturer of advanced materials for Physical Vapor Deposition (“PVD”) thin film applications. The Company is focused on markets within the PVD industry including Aerospace, Automotive, Defense, Glass, Optical Coatings, and Solar. Substantially, all revenues are generated from customers with multi-national operations. The Company develops innovative customized solutions enabling commercial success through collaboration with end users and Original Equipment Manufacturers.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2022
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies A. B. C. D. The Company’s two largest customers accounted for 73% and 15% of total revenue in 2022. These two customers represented 59% of the accounts receivable trade balance at December 31, 2022. The Company expects to collect all outstanding accounts receivable as of December 31, 2022, from these customers. The Company’s two largest customers accounted for 63% and 21% of total revenue in 2021. These two customers represented 43% of the accounts receivable trade balance at December 31, 2021. The Company subsequently collected all outstanding accounts receivable as of December 31, 2021, from these customers. E. Management estimates an allowance for doubtful accounts, which was $15,000 as of December 31, 2022, and 2021. This estimate is based upon management’s assessment of the expected collectability of specific customer accounts and the aging of the accounts receivable. Specific accounts are charged directly to the reserve or bad debt expense when management obtains evidence of a customer’s Note 2. Summary of Significant Accounting Policies (continued) insolvency or otherwise determines that the account is uncollectible. There was no bad debt expense during 2022 and 2021. F. includes material, labor, freight and applied overhead. Inventory reserves are established for obsolete inventory, lower of cost or net realizable value, and excess inventory quantities based on management’s estimate of net realizable value. The Company had an inventory reserve of $10,431 and $25,418 at December 31, 2022, and 2021, respectively. G. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the fair value is less than the carrying amount of the asset, a loss is recognized for the difference. During 2022, various assets totaling $83,596 with a net book value of $7,201 were considered impaired impaired H. Costs incurred to secure patents have been capitalized and amortized over the life of the patents. Cost and accumulated amortization of the patents at December 31, 2022, was $85,516 and $17,596 respectively, and cost and accumulated amortization of the patents at December 31, 2021, was $85,516 and $13,182, respectively. Amortization expense related to patents was $4,414 for the years ended December 31, 2022, and 2021. Amortization expense is expected to be at least $4,414 for each of the next five years. I. Note 2. Summary of Significant Accounting Policies (continued) The Company considers collectability of amounts due under a contract to be probable upon inception of a sale based on an evaluation of the credit worthiness of each customer. The Company sells its products typically under agreements with payment terms of 30-60 days. The Company does not typically include extended payment terms or significant financing components in contracts with customers. The majority of the Company’s contracts have an obligation to transfer products within one year. Thus, the Company elects to use the practical expedient where incremental cost of obtaining a contract, such as commissions, is expensed when incurred because the amortization period for those costs is one year or less. The Company treats shipping and handling activities that occur after control of the product transfers as fulfillment activities, and therefore, does not account for shipping and handling costs as a separate performance obligation. Customer deposits are funds received in advance from customers and are recognized as revenue when the Company has transferred control of product to the customer. Product revenues are recognized upon shipment of goods as the customer has assumed the significant risks and rewards of ownership and the Company is entitled to payment at this point. Service revenues are recognized upon completion as the customer cannot realize the benefit of the service until fully completed. During 2022 and 2021, revenue from the PVD industry exceeded 99% of total revenue. The balance of the revenue was from the solar and thin film battery markets. The top two customers represented 88% and 84% of total revenue during 2022 and 2021, respectively. International shipments resulted in 1% and 2% of total revenue for 2022 and 2021, respectively. J. K. New initiatives are also being pursued that utilize our vacuum hot presses, cold isostatic press, and kilns for increased production and development projects, including diffusion bonding. We recently manufactured and sold conductive metal oxides for direct current sputtering of Tungsten Oxide and Molybdenum Oxide materials. We continue to invest in developing new products for all our markets including specialty bonding processes for Aerospace customers. Those products continue to require research and development expense to accelerate time to market. L. Note 2. Summary of Significant Accounting Policies (continued) We recognize deferred tax assets to the extent that we believe that these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would not be able to realize our deferred tax assets in the future, we would make an adjustment to the deferred tax asset valuation allowance, which would increase the provision for income taxes. M. N. In June 2016, the FASB issued ASU No. 2016-13 “Credit Losses - Measurement of Credit Losses on Financial Instruments.” ASU No. 2016-13 significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables, by replacing today’s “incurred loss” approach with an “expected loss” model under which allowances will be recognized based on expected rather than incurred losses. ASU No. 2016-13 will become effective for the Company in the first quarter of 2023. The Company is evaluating the impact that the adoption of this update will have on its financial statements; however, it is not expected to be material O.

Investments

Investments	12 Months Ended
Investments	Dec. 31, 2022
Investments
Investments	Note 3. Investments As of December 31, 2022, the Company held investments in corporate and government bonds that are required to be measured for disclosure purposes at fair value on a recurring basis. The bonds are considered held-to-maturity and are recorded at amortized cost on the balance sheet. These investments are considered level 2 as detailed in the table below. The Company considers investments which will mature in the next twelve months and interest receivable on the long-term bonds as current assets. The remaining investments are considered non-current assets including the investment in marketable securities which the Company intends to hold longer than twelve months. The fair value of these investments was estimated using recently executed transactions and market price quotations. The amortized cost and the fair value of these investments, and the related gross unrealized gains and losses, were as follows: Note 3. Investments (continued) As of December 31, 2022 Level Cost Unrealized gains/(losses) Fair value Bonds 2 $ 1,989,265 $ 741 $ 1,990,006 At December 31, 2022, the length of time until maturity of the bonds currently owned ranged from 5 months to 23 months.

Inventories

Inventories	12 Months Ended
Inventories	Dec. 31, 2022
Inventories
Inventories	Note 4. Inventories Inventories consist of the following at December 31: December 31, December 31, 2022 2021 Raw materials $ 1,375,669 $ 440,759 Work-in-process 528,631 549,369 Finished goods 284,048 108,508 2,188,348 1,098,636 Inventory reserve (10,431) (25,418) $ 2,177,917 $ 1,073,218

Notes Payable

Notes Payable	12 Months Ended
Notes Payable	Dec. 31, 2022
Notes Payable
Notes Payable	Note 5. Notes Payable On April 17, 2020, the Company entered into an unsecured promissory note under the Paycheck Protection Program (the “PPP”), with a principal amount of $325,300. Under the terms of the CARES Act, PPP loan recipients were eligible to apply for, and be granted, forgiveness for all or a portion of loans granted. Such forgiveness was subject to limitations and ongoing rulemaking by the SBA, based on the use of loan proceeds for payroll costs and mortgage interest, rent or utility costs and the maintenance of employee and compensation levels. The Company applied for forgiveness of the entire amount of the loan during the fourth quarter of 2020, and the SBA approved the Forgiveness Application in full during the first quarter of 2021. This amount is included in the Statement of Operations as gain on extinguishment of debt in 2021. The Company commenced a line of credit with Fifth Third Bank for $1 million during August of 2021 and renewed in August 2022. The line of credit bears interest equal to the rate of interest per annum established by Fifth Third Bank as its Prime Rate. This line of credit has a maturity date of August 29, 2023. No amounts were drawn on this line of credit during 2021 or 2022.

Operating Lease Obligations

Operating Lease Obligations	12 Months Ended
Operating Lease Obligations	Dec. 31, 2022
Operating Lease Obligations
Operating Lease Obligations	Note 6. Operating Lease Obligations The Company entered into an operating lease with a third party on March 18, 2014 for its headquarters in Columbus, Ohio. The terms of the lease include monthly payments ranging from $9,400 to $9,700 with an expiration date of November 30, 2024. The Company has the option to extend the lease period for an additional five years beyond the expiration date. There are no restrictions or covenants associated with the lease. The lease costs were approximately $112,600 and $110,400 during the years ended December 31, 2022 and 2021, respectively. The following is a maturity analysis, by year, of the annual undiscounted cash outflows of the operating lease liabilities as of December 31, 2022: 2023 $ 114,857 2024 102,550 Total minimum lease payments 217,407 Less debt discount 11,784 Total operating lease obligations $ 205,623 Operating cash outflows from operating leases $ 97,292 Weighted average remaining lease term – operating leases 1.9 years Weighted average discount rate – operating leases 5.5 %

Finance Leases

Finance Leases	12 Months Ended
Finance Leases	Dec. 31, 2022
Finance Leases
Finance Leases	Note 7. Finance Leases The Company also leases certain equipment under finance leases. Future minimum lease payments, by year, with the present value of such payments, as of December 31, 2022, are shown in the following table. 2023 $ 101,675 2024 49,859 Total minimum lease payments 151,534 Less amount representing interest 5,018 Present value of minimum lease payments 146,516 Less current portion 97,367 Finance lease obligations, net of current portion $ 49,149 The equipment under finance lease at December 31 is included in the accompanying balance sheets as follows: December 31, 2022 Dec. 31, 2021 Machinery and equipment $ 385,923 $ 385,923 Less accumulated depreciation and amortization 104,376 65,783 Net book value $ 281,547 $ 320,140 These assets are amortized over a period of ten years using the straight-line method and amortization is included in depreciation expense. Note 7. Finance Leases (continued) The finance leases are structured such that ownership of the leased asset reverts to the Company at the end of the lease term. Accordingly, leased assets are depreciated using the Company’s normal depreciation methods and lives. Ownership of certain assets was transferred to the Company in accordance with the terms of the leases and these assets have been excluded from the leased asset disclosure above.

Common and Preferred Stock

Common and Preferred Stock	12 Months Ended
Common and Preferred Stock	Dec. 31, 2022
Common and Preferred Stock
Common and Preferred Stock	Note 8. Common and Preferred Stock Common Stock The non-employee board members received compensation of 8,755 and 9,165 shares of common stock of the Company during 2022 and 2021, respectively. The stock had an aggregate value of $29,967 and $29,963 for the year ended December 31, 2022, and 2021, respectively, and was recorded as non-cash stock compensation expense in the financial statements. Employees received compensation of 4,500 and 4,804 aggregate shares of common stock of the Company during 2022 and 2021, respectively, which had an aggregate value of $14,625 and $13,211, respectively, and was recorded as noncash stock-based compensation expense in the financial statements. In addition, during 2021, a total of 34,733 stock options were exercised by management. Preferred Stock Shares of preferred stock authorized and outstanding at December 31, 2022 and 2021, were as follows: 2022 2022 2021 2021 Shares Shares Shares Shares Authorized Outstanding Authorized Outstanding Cumulative Preferred Stock 10,000 — 10,000 — Voting Preferred Stock 125,000 — 125,000 — Cumulative Non-Voting Preferred Stock (a) 125,000 — 125,000 — (a) Includes 700 shares of Series A Preferred Stock and 100,000 shares of Convertible Series B Preferred Stock authorized for issuance. In January 1996, the Company completed an offering of 24,152 shares of $10 stated value 1995 Series B 10% cumulative non-voting convertible preferred stock (a total of 70,000 shares were offered and 24,152 were sold). The shares were convertible to common shares at the rate of $5.00 per share. A dividend payment of $24,152 was made to preferred shareholders of record during the second quarter of 2021. The Board of Directors voted in November 2021 to authorize full redemption of 24,152 shares of the Company’s Convertible Preferred Stock, Series B (“Series B”) effective December 31, 2021. This involved cash payments of $248,766 ($10.30 per share, which included a 3% premium to the stated value of $10 per share), plus unpaid annual dividends of $265,672 ($11.00 per share). Earnings Per Share Basic income per share is calculated as income available to common shareholders divided by the weighted average of common shares outstanding. Diluted earnings per share is calculated as diluted income available to common shareholders divided by the diluted weighted average number of common shares outstanding. Diluted weighted average number of common shares gives effect to all dilutive Note 8. Common and Preferred Stock (continued) potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. Diluted earnings per share exclude all diluted potential shares if their effect is anti-dilutive. Following is a summary of employee and director outstanding stock options outstanding and preferred stock, Series B at December 31. 2022 2021 Options 41,304 41,304 The following is provided to reconcile the earnings per share calculations: Year ended December 31, 2022 2021 Income applicable to common stock $ 1,957,024 $ 1,654,672 Weighted average common shares outstanding - basic 4,515,002 4,495,678 Effect of dilution - stock options 27,889 28,012 Weighted average shares outstanding - diluted 4,542,891 4,523,690

Stock Option Plans

Stock Option Plans	12 Months Ended
Stock Option Plans	Dec. 31, 2022
Stock Option Plans
Stock Option Plans	Note 9. Stock Option Plans On June 10, 2011, shareholders approved the SCI Engineered Materials, Inc. 2011 Stock Incentive Plan (the “2011 Plan”). The Company adopted the 2011 Plan as incentive to key employees, directors, and consultants under which options to purchase up to 250,000 shares of the Company’s common stock may be granted, subject to the execution of stock option agreements. Incentive stock options may be granted to key employees of the Company and non-statutory options may be granted to directors who are not employees and to consultants and advisors who render services to the Company. Options may be exercised for periods up to 10 years from the date of grant at prices not less than 100% of fair market value on the date of grant. As of December 31, 2022, there were 21,061 stock options outstanding from the 2011 Plan which expire in May 2028. On June 9, 2006, shareholders approved the Superconductive Components, Inc. 2006 Stock Incentive Plan (the “2006 Plan”). The Company adopted the 2006 Plan as incentive to key employees, directors, and consultants under which options to purchase up to 600,000 shares of the Company’s common stock may be granted, subject to the execution of stock option agreements. Incentive stock options may be granted to key employees of the Company and non-statutory options may be granted to directors who are not employees and to consultants and advisors who render services to the Company. Options may be exercised for periods up to 10 years from the date of grant at prices not less than 100% of fair market value on the date of grant. The 2006 Plan expired in 2016 and no additional stock options may be granted. As of December 31, 2022, there were 20,243 stock options outstanding from the 2006 Plan which expire in November 2024. Note 9. Stock Option Plans (continued) The cumulative status at December 31, 2022 and 2021 of options granted and outstanding, as well as options which became exercisable in connection with the Stock Option Plans is summarized as follows: Employee Stock Options Weighted Average Stock Exercise Options Price Outstanding at January 1, 2021 76,037 $ 1.03 Exercised (34,733) 1.00 Outstanding at December 31, 2021 41,304 $ 1.05 Outstanding at December 31, 2022 41,304 $ 1.05 Options exercisable at December 31, 2021 27,418 $ 0.95 Options exercisable at December 31, 2022 34,361 $ 1.01 Information related to the weighted average fair value of nonvested stock options for the year ended December 31, 2022, is as follows: Weighted Average Exercise Stock Options Price Employee Stock Options Nonvested options at January 1, 2022 20,829 $ 1.25 Vested (13,886) 1.25 Nonvested options at December 31, 2022 6,943 $ 1.25 Exercise prices for options outstanding ranged from $0.84 to $1.25 and the weighted average option price was $1.05 at December 31, 2022, and 2021, respectively. The weighted average remaining contractual life was 3.6 years and 4.6 years at December 31, 2022, and 2021, respectively.

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2022
Income Taxes
Income Taxes	Note 10. Income Taxes Deferred tax assets and liabilities result from temporary differences in the recognition of income and expense for tax and financial reporting purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows at December 31. 2022 2021 Deferred tax assets (liabilities) NOL carryforwards $ 8,917 $ 434,566 General business credits carryforwards 388,776 389,741 Stock based compensation 155,707 149,389 Allowance for doubtful accounts 3,162 3,162 Reserve for obsolete inventories 2,199 5,358 Reserve for asset retirement 18,797 17,342 Property and equipment (426,394) (335,738) Total $ 151,164 $ 663,820 Note 10. Income Taxes (continued) A valuation allowance of $0 has been recorded against the realizability of the net deferred tax asset of $151,164 at December 31, 2022, and $663,820 at December 31, 2021. As of each reporting date, management considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets. As of December 31, 2022, management determined that there is sufficient positive evidence to conclude that it is more likely than not that deferred taxes of $151,164 are realizable in part because we achieved six consecutive years of pretax income, expect profits to continue for the foreseeable future and implemented new efficiencies in the Company's manufacturing process. Accordingly, we determined that no valuation allowance was necessary at December 31, 2022. The Company had net operating loss carryforwards available for federal and state tax purposes of approximately $42,000 and $2,100,000 at December 31, 2022, and 2021, respectively, which expire in varying amounts through 2042. The deferred tax asset of $151,164 is expected to be realized within the next three years. For the years ended December 31, 2022, and 2021, a reconciliation of the statutory rate and effective rate for the provisions for income taxes consists of the following: Percentage 2022 2021 Federal statutory rate 21.0 % 21.0 % State/city tax 1.2 1.8 Non-deductible expense 0.2 0.2 PPP tax exempt income — (3.4) Valuation allowance (0.7) (0.4) Effective rate 21.7 % 19.2 % Components of the income tax provision are as follows: 2022 2021 Current $ 29,739 $ 36,745 Deferred: NOL utilization/expiration 425,649 351,585 General business credits 965 (8,563) Other temporary differences 86,042 12,475 Total $ 542,395 $ 392,242 The Company follows guidance issued by the Financial Accounting Standards Board (“FASB ASC 740”) with respect to accounting for uncertainty in income taxes. A tax position is recognized as a benefit only if it is “more-likely-than-not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than fifty percent likely of being realized on examination. For tax positions not meeting the “more-likely-than-not” test, no tax benefit is recorded. The Company has no unrecognized tax benefits under guidance related to tax uncertainties. The Company does not anticipate the unrecognized tax benefits will significantly change in the next twelve months. Any tax penalties or interest expense will be recognized in income tax expense. No interest and penalties related to unrecognized tax benefits were accrued at December 31, 2022, and 2021. Note 10. Income Taxes (continued) The Company files income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions. The Company is open to federal and state tax audits until the applicable statute of limitations expire. There are currently no federal or state income tax examinations underway for the Company. The tax years 2019 through 2022 remain open to examination by the major taxing jurisdictions in which the Company operates.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
Fair Value of Financial Instruments	Dec. 31, 2022
Fair Value of Financial Instruments
Fair Value of Financial Instruments	Note 11. Fair Value of Financial Instruments The fair value of financial instrument represents the price that would be received to sell an asset or paid to transfer a liability (an exit price), and not the price that would be paid to acquire an asset or received to assume a liability (an entry price). Significant differences can arise between the fair value and carrying amount of financial instruments that are recognized at historical cost amounts. The following methods and assumptions were used by the Company in estimating fair value disclosures for financial instruments: ● The fair values of cash and cash equivalents, trade receivables, accounts payable, short-term notes payable and finance lease obligations and current maturities of long-term notes payable and finance lease obligations: Amounts are reported at cost, approximate fair value based on the short-term nature and high credit quality of these financial instruments. ● Long-term note payable and finance lease obligations: Amounts reported in the balance sheet approximate fair value as the interest rates on the obligations range from 4.2% to 4.8% , which approximates current fair market rates.

Asset Retirement Obligation

Asset Retirement Obligation	12 Months Ended
Asset Retirement Obligation	Dec. 31, 2022
Asset Retirement Obligation
Asset Retirement Obligation	Note 12. Asset Retirement Obligation Included in machinery and equipment is various production equipment, which per the Company’s building lease is required to be removed upon termination of the related lease. Included in accrued expenses in the accompanying balance sheet is the asset retirement obligation that represents the expected present value of the liability to remove this equipment. There are no assets that are legally restricted for purposes of settling this asset retirement obligation. Following is a reconciliation of the aggregate retirement liability associated with the Company’s obligation to dismantle and remove the machinery and equipment associated with its lease: Balance at January 1, 2021 $ 75,368 Increase in present value of the obligation (accretion expense in the corresponding amount charged against earnings) 6,900 Balance at December 31, 2021 $ 82,268 Increase in present value of the obligation (accretion expense in the corresponding amount charged against earnings) 6,900 Balance at December 31, 2022 $ 89,168

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2022
Summary of Significant Accounting Policies
Cash	A.
Investments in marketable securities	B.
Fair Value of Financial Instruments	C.
Concentrations of Credit Risk	D. The Company’s two largest customers accounted for 73% and 15% of total revenue in 2022. These two customers represented 59% of the accounts receivable trade balance at December 31, 2022. The Company expects to collect all outstanding accounts receivable as of December 31, 2022, from these customers. The Company’s two largest customers accounted for 63% and 21% of total revenue in 2021. These two customers represented 43% of the accounts receivable trade balance at December 31, 2021. The Company subsequently collected all outstanding accounts receivable as of December 31, 2021, from these customers.
Accounts Receivable	E. Management estimates an allowance for doubtful accounts, which was $15,000 as of December 31, 2022, and 2021. This estimate is based upon management’s assessment of the expected collectability of specific customer accounts and the aging of the accounts receivable. Specific accounts are charged directly to the reserve or bad debt expense when management obtains evidence of a customer’s Note 2. Summary of Significant Accounting Policies (continued) insolvency or otherwise determines that the account is uncollectible. There was no bad debt expense during 2022 and 2021.
Inventories	F. includes material, labor, freight and applied overhead. Inventory reserves are established for obsolete inventory, lower of cost or net realizable value, and excess inventory quantities based on management’s estimate of net realizable value. The Company had an inventory reserve of $10,431 and $25,418 at December 31, 2022, and 2021, respectively.
Property and Equipment	G. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the fair value is less than the carrying amount of the asset, a loss is recognized for the difference. During 2022, various assets totaling $83,596 with a net book value of $7,201 were considered impaired impaired
Intangible Assets	H. Costs incurred to secure patents have been capitalized and amortized over the life of the patents. Cost and accumulated amortization of the patents at December 31, 2022, was $85,516 and $17,596 respectively, and cost and accumulated amortization of the patents at December 31, 2021, was $85,516 and $13,182, respectively. Amortization expense related to patents was $4,414 for the years ended December 31, 2022, and 2021. Amortization expense is expected to be at least $4,414 for each of the next five years.
Revenue Recognition	I. Note 2. Summary of Significant Accounting Policies (continued) The Company considers collectability of amounts due under a contract to be probable upon inception of a sale based on an evaluation of the credit worthiness of each customer. The Company sells its products typically under agreements with payment terms of 30-60 days. The Company does not typically include extended payment terms or significant financing components in contracts with customers. The majority of the Company’s contracts have an obligation to transfer products within one year. Thus, the Company elects to use the practical expedient where incremental cost of obtaining a contract, such as commissions, is expensed when incurred because the amortization period for those costs is one year or less. The Company treats shipping and handling activities that occur after control of the product transfers as fulfillment activities, and therefore, does not account for shipping and handling costs as a separate performance obligation. Customer deposits are funds received in advance from customers and are recognized as revenue when the Company has transferred control of product to the customer. Product revenues are recognized upon shipment of goods as the customer has assumed the significant risks and rewards of ownership and the Company is entitled to payment at this point. Service revenues are recognized upon completion as the customer cannot realize the benefit of the service until fully completed. During 2022 and 2021, revenue from the PVD industry exceeded 99% of total revenue. The balance of the revenue was from the solar and thin film battery markets. The top two customers represented 88% and 84% of total revenue during 2022 and 2021, respectively. International shipments resulted in 1% and 2% of total revenue for 2022 and 2021, respectively.
Stock Based Compensation	J.
Research and Development	K. New initiatives are also being pursued that utilize our vacuum hot presses, cold isostatic press, and kilns for increased production and development projects, including diffusion bonding. We recently manufactured and sold conductive metal oxides for direct current sputtering of Tungsten Oxide and Molybdenum Oxide materials. We continue to invest in developing new products for all our markets including specialty bonding processes for Aerospace customers. Those products continue to require research and development expense to accelerate time to market.
Income Taxes	L. Note 2. Summary of Significant Accounting Policies (continued) We recognize deferred tax assets to the extent that we believe that these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would not be able to realize our deferred tax assets in the future, we would make an adjustment to the deferred tax asset valuation allowance, which would increase the provision for income taxes.
Use of Estimates	M.
Recent Accounting Pronouncements	N. In June 2016, the FASB issued ASU No. 2016-13 “Credit Losses - Measurement of Credit Losses on Financial Instruments.” ASU No. 2016-13 significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables, by replacing today’s “incurred loss” approach with an “expected loss” model under which allowances will be recognized based on expected rather than incurred losses. ASU No. 2016-13 will become effective for the Company in the first quarter of 2023. The Company is evaluating the impact that the adoption of this update will have on its financial statements; however, it is not expected to be material
Employee Retention Credit ("ERC")	O.

Investments (Tables)

Investments (Tables)	12 Months Ended
Investments (Tables)	Dec. 31, 2022
Investments
Schedule of amortized cost, fair value of investments, and related gross unrealized gains/(losses)	As of December 31, 2022 Level Cost Unrealized gains/(losses) Fair value Bonds 2 $ 1,989,265 $ 741 $ 1,990,006

Inventories (Tables)

Inventories (Tables)	12 Months Ended
Inventories (Tables)	Dec. 31, 2022
Inventories
Schedule of inventories	Inventories consist of the following at December 31: December 31, December 31, 2022 2021 Raw materials $ 1,375,669 $ 440,759 Work-in-process 528,631 549,369 Finished goods 284,048 108,508 2,188,348 1,098,636 Inventory reserve (10,431) (25,418) $ 2,177,917 $ 1,073,218

Operating Lease Obligations (Ta

Operating Lease Obligations (Tables)	12 Months Ended
Operating Lease Obligations (Tables)	Dec. 31, 2022
Operating Lease Obligations
Schedule of annual undiscounted cash flows of the operating lease liabilities	The following is a maturity analysis, by year, of the annual undiscounted cash outflows of the operating lease liabilities as of December 31, 2022: 2023 $ 114,857 2024 102,550 Total minimum lease payments 217,407 Less debt discount 11,784 Total operating lease obligations $ 205,623
Schedule of operating lease other information	Operating cash outflows from operating leases $ 97,292 Weighted average remaining lease term – operating leases 1.9 years Weighted average discount rate – operating leases 5.5 %

Finance Leases (Tables)

Finance Leases (Tables)	12 Months Ended
Finance Leases (Tables)	Dec. 31, 2022
Finance Leases
Schedule of future minimum lease payments	The Company also leases certain equipment under finance leases. Future minimum lease payments, by year, with the present value of such payments, as of December 31, 2022, are shown in the following table. 2023 $ 101,675 2024 49,859 Total minimum lease payments 151,534 Less amount representing interest 5,018 Present value of minimum lease payments 146,516 Less current portion 97,367 Finance lease obligations, net of current portion $ 49,149
Schedule of equipment under finance leases	The equipment under finance lease at December 31 is included in the accompanying balance sheets as follows: December 31, 2022 Dec. 31, 2021 Machinery and equipment $ 385,923 $ 385,923 Less accumulated depreciation and amortization 104,376 65,783 Net book value $ 281,547 $ 320,140

Common and Preferred Stock (Tab

Common and Preferred Stock (Tables)	12 Months Ended
Common and Preferred Stock (Tables)	Dec. 31, 2022
Common and Preferred Stock
Summary of shares of preferred stock authorized and outstanding	Shares of preferred stock authorized and outstanding at December 31, 2022 and 2021, were as follows: 2022 2022 2021 2021 Shares Shares Shares Shares Authorized Outstanding Authorized Outstanding Cumulative Preferred Stock 10,000 — 10,000 — Voting Preferred Stock 125,000 — 125,000 — Cumulative Non-Voting Preferred Stock (a) 125,000 — 125,000 — (a) Includes 700 shares of Series A Preferred Stock and 100,000 shares of Convertible Series B Preferred Stock authorized for issuance.
Summary of employee and director outstanding stock options outstanding and preferred stock, Series B	Following is a summary of employee and director outstanding stock options outstanding and preferred stock, Series B at December 31. 2022 2021 Options 41,304 41,304
Summary of reconciliation of earnings per share calculations	The following is provided to reconcile the earnings per share calculations: Year ended December 31, 2022 2021 Income applicable to common stock $ 1,957,024 $ 1,654,672 Weighted average common shares outstanding - basic 4,515,002 4,495,678 Effect of dilution - stock options 27,889 28,012 Weighted average shares outstanding - diluted 4,542,891 4,523,690

Stock Option Plans (Tables)

Stock Option Plans (Tables)	12 Months Ended
Stock Option Plans (Tables)	Dec. 31, 2022
Common Stock and Stock Options
Schedule of weighted average fair value of non vested stock options	Information related to the weighted average fair value of nonvested stock options for the year ended December 31, 2022, is as follows: Weighted Average Exercise Stock Options Price Employee Stock Options Nonvested options at January 1, 2022 20,829 $ 1.25 Vested (13,886) 1.25 Nonvested options at December 31, 2022 6,943 $ 1.25
Employee Stock Options
Common Stock and Stock Options
Schedule of share-based compensation, employee stock options, activity	The cumulative status at December 31, 2022 and 2021 of options granted and outstanding, as well as options which became exercisable in connection with the Stock Option Plans is summarized as follows: Employee Stock Options Weighted Average Stock Exercise Options Price Outstanding at January 1, 2021 76,037 $ 1.03 Exercised (34,733) 1.00 Outstanding at December 31, 2021 41,304 $ 1.05 Outstanding at December 31, 2022 41,304 $ 1.05 Options exercisable at December 31, 2021 27,418 $ 0.95 Options exercisable at December 31, 2022 34,361 $ 1.01

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2022
Income Taxes
Schedule of deferred tax assets and liabilities	2022 2021 Deferred tax assets (liabilities) NOL carryforwards $ 8,917 $ 434,566 General business credits carryforwards 388,776 389,741 Stock based compensation 155,707 149,389 Allowance for doubtful accounts 3,162 3,162 Reserve for obsolete inventories 2,199 5,358 Reserve for asset retirement 18,797 17,342 Property and equipment (426,394) (335,738) Total $ 151,164 $ 663,820
Schedule of reconciliation of the statutory rate and effective rate for income taxes	For the years ended December 31, 2022, and 2021, a reconciliation of the statutory rate and effective rate for the provisions for income taxes consists of the following: Percentage 2022 2021 Federal statutory rate 21.0 % 21.0 % State/city tax 1.2 1.8 Non-deductible expense 0.2 0.2 PPP tax exempt income — (3.4) Valuation allowance (0.7) (0.4) Effective rate 21.7 % 19.2 %
Schedule of components of the income tax expense	Components of the income tax provision are as follows: 2022 2021 Current $ 29,739 $ 36,745 Deferred: NOL utilization/expiration 425,649 351,585 General business credits 965 (8,563) Other temporary differences 86,042 12,475 Total $ 542,395 $ 392,242

Asset Retirement Obligation (Ta

Asset Retirement Obligation (Tables)	12 Months Ended
Asset Retirement Obligation (Tables)	Dec. 31, 2022
Asset Retirement Obligation
Schedule of Asset Retirement Obligations	Balance at January 1, 2021 $ 75,368 Increase in present value of the obligation (accretion expense in the corresponding amount charged against earnings) 6,900 Balance at December 31, 2021 $ 82,268 Increase in present value of the obligation (accretion expense in the corresponding amount charged against earnings) 6,900 Balance at December 31, 2022 $ 89,168

Business Organization and Pur_2

Business Organization and Purpose (Details)	12 Months Ended
Business Organization and Purpose (Details)	Dec. 31, 2022 segment
Business Organization and Purpose
Number of operating segments	1

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended			12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Summary of Significant Accounting Policies
Bad debt expense				$ 0	$ 0
Depreciation expense				425,391	429,066
Asset impairment charges				7,201,000	15,569
Impaired long-lived assets				$ 83,596,000	$ 62,166
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]				General and Administrative Expense	General and Administrative Expense
Intangible assets impaired				$ 0	$ 0
Stock based compensation				49,321	47,903
Unrecognized compensation expense				1,576
Employee retention credit provisions	$ 153,713	$ 151,701	$ 255,507
Accounts receivable Tax - Employee Retention Credit				$ 40,539	$ 105,000
Computer Equipment
Summary of Significant Accounting Policies
Useful life				3 years
Other Equipment
Summary of Significant Accounting Policies
Useful life				16 years
Geographic Concentration Risk \| Sales Revenue, Net \| International
Summary of Significant Accounting Policies
Concentration risk (as a percent)				1%	2%
Product Concentration Risk \| Sales Revenue, Net \| Photonics market
Summary of Significant Accounting Policies
Concentration risk (as a percent)				99%	99%
Patents
Summary of Significant Accounting Policies
Finite-Lived Intangible Assets, Gross				$ 85,516	$ 85,516
Finite-Lived Intangible Assets, Accumulated Amortization				17,596	13,182
Amortization of Intangible Assets				4,414
Minimum future amortization expense				$ 4,414
Intangible assets expected amortization period (in years)				5 years
Non Employee Board
Summary of Significant Accounting Policies
Stock based compensation				$ 29,968	$ 29,963
Customer One \| Sales Revenue, Net
Summary of Significant Accounting Policies
Concentration risk (as a percent)				73%	63%
Customer Two \| Sales Revenue, Net
Summary of Significant Accounting Policies
Concentration risk (as a percent)				15%	21%
Two Customers \| Accounts Receivable
Summary of Significant Accounting Policies
Concentration risk (as a percent)				59%	43%
Two Customers \| Sales Revenue, Net
Summary of Significant Accounting Policies
Concentration risk (as a percent)				88%	84%

Investments (Details)

Investments (Details) - Corporate and government bonds	Dec. 31, 2022 USD ($)
Investments
Cost	$ 1,989,265
Unrealized gains	741
Recurring \| Level 2
Investments
Fair value	$ 1,990,006

Investments - Bond Maturity (De

Investments - Bond Maturity (Details) - Corporate and government bonds - Recurring - Fair Value, Inputs, Level 2 [Member]	12 Months Ended
	Dec. 31, 2022
Minimum
Investments
Maturity of bonds (in months)	5 months
Maximum
Investments
Maturity of bonds (in months)	23 months

Inventories (Details)

Inventories (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Inventories
Raw materials	$ 1,375,669	$ 440,759
Work-in-process	528,631	549,369
Finished goods	284,048	108,508
Inventory, Gross	2,188,348	1,098,636
Inventory reserve	(10,431)	(25,418)
Inventory, Net	$ 2,177,917	$ 1,073,218

Notes Payable (Details)

Notes Payable (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Aug. 31, 2021	Apr. 17, 2020
SBA PPP Loan
Debt Instrument
Principal amount				$ 325,300
Fifth Third Bank
Debt Instrument
Line of credit	$ 0	$ 0
Fifth Third Bank \| Prime Commercial Rate
Debt Instrument
Line of credit			$ 1,000,000

Operating Lease Obligations (De

Operating Lease Obligations (Details) - USD ($)	12 Months Ended
Operating Lease Obligations (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Operating cash outflows from operating leases	$ 97,292
Weighted average remaining lease term	1 year 10 months 24 days
Weighted average discount rate	5.50%
Operating lease, renewal term	5 years
Operating lease costs	$ 112,600	$ 110,400
Minimum
Monthly lease payments	9,400
Maximum
Monthly lease payments	$ 9,700

Operating Lease Obligations - F

Operating Lease Obligations - Future Minimum Lease Payments (Details)	Dec. 31, 2022 USD ($)
Operating Lease Obligations
2023	$ 114,857
2024	102,550
Total minimum lease payments	217,407
Less debt discount	11,784
Total operating lease obligations	$ 205,623

Finance Leases - Future minimum

Finance Leases - Future minimum lease payments (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Finance Leases
2022	$ 101,675
2023	49,859
Total minimum lease payments	151,534
Less amount representing interest	5,018
Present value of minimum lease payments	146,516
Less current portion	97,367	$ 96,702
Finance lease obligations, net of current portion	$ 49,149	$ 146,516

Finance Leases - Equipment unde

Finance Leases - Equipment under finance lease and additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finance Leases
Machinery and equipment	$ 385,923	$ 385,923
Less accumulated depreciation and amortization	104,376	65,783
Net book value	$ 281,547	$ 320,140
Finance lease amortization period (in years)	10 years

Common and Preferred Stock - Co

Common and Preferred Stock - Common Stock (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 1996	Dec. 31, 2022	Dec. 31, 2021
Stock Issued During Period, Value, New Issues		$ 44,592	$ 43,174
Convertible Preferred Stock, Series B
Stock Issued During Period, Shares, New Issues	24,152
Common Stock
Stock Issued During Period, Value, New Issues		$ 44,592	$ 43,174
Common Stock \| Employee
Stock Issued During Period, Shares, New Issues		4,500	4,804
Stock Issued During Period, Value, New Issues		$ 14,625	$ 13,211
Common Stock \| Non Employee Board
Stock Issued During Period, Shares, New Issues		8,755	9,165
Stock Issued During Period, Value, New Issues		$ 29,967	$ 29,963
Employee Stock Options
Stock options exercised			34,733
Non-employee director
Stock options exercised			34,733

Common and Preferred Stock - Pr

Common and Preferred Stock - Preferred Stock Authorized and Outstanding (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
Cumulative Preferred Stock [Member]
Shares Authorized	10,000	10,000
Shares Outstanding	0	0
Voting Preferred Stock [Member]
Shares Authorized	125,000	125,000
Shares Outstanding	0	0
Cumulative Non Voting Preferred Stock [Member]
Shares Authorized	125,000	125,000	[1]
Shares Outstanding	0	0
Preferred Stock
Shares Authorized	700	700
Convertible Preferred Stock, Series B
Shares Authorized	100,000	100,000

[1] Includes 700 shares of Series A Preferred Stock and 100,000 shares of Convertible Series B Preferred Stock authorized for issuance.

Common and Preferred Stock - Ad

Common and Preferred Stock - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 1996	Dec. 31, 2021
Convertible Preferred Stock Conversion Price	$ 5
Dividend Payment, Preferred Stock		$ 248,766
Preferred Stock Dividends, Income Statement Impact		$ 24,152
Convertible Preferred Stock, Series B
Number of shares offered	70,000
Preferred Stock, Dividend Rate, Percentage	10%
Preferred Stock Redemption Percentage		3%
Number of shares redeemed		24,152
Payments of Dividends		$ 24,152
Dividend Payment, Preferred Stock		$ 248,766
Preferred redemption price per share		$ 10.30
Preferred stock stated value	$ 10	$ 10
Unpaid dividends		$ 265,672
Dividend rate		$ 11

Common and Preferred Stock - Su

Common and Preferred Stock - Summary of Employee and Director Outstanding Stock Options Outstanding and Preferred Stock, Series B (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
Common and Preferred Stock
Number of Options and Preferred Stock Outstanding	41,304	41,304

Common and Preferred Stock - Re

Common and Preferred Stock - Reconciliation of Earnings Per Share Calculations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Common and Preferred Stock
Income applicable to common stock	$ 1,957,024	$ 1,654,672
Weighted average common shares outstanding - basic	4,515,002	4,495,678
Effect of dilution - stock options	27,889	28,012
Weighted average shares outstanding - diluted	4,542,891	4,523,690

Stock Option Plans - Employee S

Stock Option Plans - Employee Stock Options (Details) - Employee Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Options, Outstanding, Beginning Balance	41,304	76,037
Stock Options, Exercised		(34,733)
Stock Options, Outstanding, Ending Balance	41,304	41,304
Stock Options, Options exercisable	34,361	27,418
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 1.05	$ 1.03
Weighted Average Exercise Price, Exercised		1
Weighted Average Exercise Price, Outstanding, Ending Balance	1.05	1.05
Weighted Average Exercise Price, Options exercisable	$ 1.01	$ 0.95
Weighted Average Contractual Term, Outstanding	3 years 7 months 6 days	4 years 7 months 6 days

Stock Option Plans - Weighted a

Stock Option Plans - Weighted average fair value of non vested stock options (Details) - Employee Stock Options	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested options, Beginning Balance \| shares	20,829
Vested, Stock Options \| shares	(13,886)
Nonvested options, Ending Balance \| shares	6,943
Nonvested, Weighted Average Exercise Price, Beginning Balance \| $ / shares	$ 1.25
Vested, Weighted Average Exercise Price \| $ / shares	1.25
Nonvested, Weighted Average Exercise Price, Ending Balance \| $ / shares	$ 1.25

Stock Option Plans - Additional

Stock Option Plans - Additional information (Details) - $ / shares			12 Months Ended
	Jun. 10, 2011	Jun. 09, 2006	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Plan 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	250,000
Share-based compensation arrangement by share-based payment option may be exercised Periods	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	100%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number			21,061
Plan 2006 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		600,000
Share-based compensation arrangement by share-based payment option may be exercised Periods		10 years
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent		100%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number			20,243
Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number			41,304	41,304	76,037
Weighted average option price			$ 1.05	$ 1.05	$ 1.03
Weighted Average Contractual Term, Outstanding			3 years 7 months 6 days	4 years 7 months 6 days
Employee Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit (in dollars per share)			$ 1.25	$ 1.25
Employee Stock Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit (in dollars per share)			$ 0.84	$ 0.84

Income Taxes - Deferred tax ass

Income Taxes - Deferred tax assets and liabilities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets (liabilities)
NOL carryforwards	$ 8,917	$ 434,566
General business credits carryforwards	388,776	389,741
Stock based compensation	155,707	149,389
Allowance for doubtful accounts	3,162	3,162
Reserve for obsolete inventories	2,199	5,358
Reserve for asset retirement	18,797	17,342
Property and equipment	(426,394)	(335,738)
Total	$ 151,164	$ 663,820

Income Taxes - Additional infor

Income Taxes - Additional information (Details) - USD ($)	12 Months Ended
Income Taxes - Additional information (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Recorded Valuation Allowance	$ 0	$ 0
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	$ 42,000	2,100,000
Operating Loss Carry forward Expiration Year	2042
Deferred Tax Assets, Reduction of Valuation Allowance	$ 0
Net deferred tax asset	151,164	663,820
Unrecognized Tax Benefits	0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	0	0
Income tax expense	$ 542,395	$ 392,242
Federal statutory rate	21%	21%
Effective rate	21.70%	19.20%

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of the statutory rate and effective rate (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Federal statutory rate	21%	21%
State/city tax	1.20%	1.80%
Non-deductible expense	0.20%	0.20%
PPP tax exempt income		(3.40%)
Valuation allowance	(0.70%)	(0.40%)
Effective rate	21.70%	19.20%

Income Taxes - Components of th

Income Taxes - Components of the income tax provision (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Current	$ 29,739	$ 36,745
Deferred:
NOL utilization/expiration	425,649	351,585
General business credits	965	(8,563)
Other temporary differences	86,042	12,475
Total	$ 542,395	$ 392,242

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details)	Dec. 31, 2022
Minimum
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	4.20%
Maximum
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	4.80%

Asset Retirement Obligation (De

Asset Retirement Obligation (Details) - USD ($)	12 Months Ended
Asset Retirement Obligation (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Asset Retirement Obligation
Beginning balance	$ 82,268	$ 75,368
Increase in present value of the obligation (accretion expense in the corresponding amount charged against earnings)	6,900	6,900
Ending balance	$ 89,168	$ 82,268