v3.19.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 15,473,938 $ 11,376,373
Accounts receivable and accrued billings 22,479,886 22,236,071
Real estate inventory 1,026,968 0
Costs and estimated earnings in excess of billings on uncompleted contracts 15,270,062 12,030,000
Income taxes receivable 1,454,638 1,220,527
Residential properties under construction 573,236 8,244,995
Prepaid expenses 1,487,549 634,069
Other current assets 634,961 1,835,743
Total current assets 58,401,238 57,577,778
Property, buildings and equipment, at cost, net of accumulated depreciation of $47,399,762 in 2019 and $43,060,083 in 2018 55,683,924 48,927,055
Deferred charges and other assets    
Land and land development costs 4,617,922 4,680,080
Cash surrender value of life insurance 545,285 547,009
Restricted cash 25,980 25,980
Goodwill 101,407 101,407
Intangibles, net of accumulated amortization of $354,718 in 2019 and $324,634 in 2018 659,082 689,166
Right of use assets 5,934,791 0
Other assets 413,222 0
Total deferred charges and other assets 12,297,689 6,043,642
Total assets 126,382,851 112,548,475
Current liabilities    
Accounts payable and accrued liabilities 13,503,637 15,999,157
Billings in excess of costs and estimated earnings on uncompleted contracts 1,236,497 1,165,002
Current portion of lease liability 2,659,377 0
Current portion of other long-term debt 117,226 113,855
Current portion of notes payable, net 7,458,207 7,161,890
Accrued remediation costs 69,686 60,101
Total current liabilities 25,044,630 24,500,005
Deferred income taxes 7,199,743 6,061,042
Accrued remediation costs, less current portion 411,856 436,982
Other long-term debt, less current portion, net 124,276 183,744
Notes payable, less current portion, net 28,303,522 21,731,024
Other accrued liabilities 3,255,934 30,246
Total liabilities 64,339,961 52,943,043
Commitments and contingencies (notes 4 and 6) 0 0
Stockholders’ equity    
Preferred stock, $1 par value, 5,000,000 shares authorized, none issued 0 0
Common stock, $.10 par value, 40,000,000 shares authorized; 27,813,772 shares issued 24,522,534 shares outstanding in 2019 and 24,590,243 shares outstanding in 2018 2,781,377 2,781,377
Additional paid-in capital 18,481,683 18,481,683
Retained earnings 44,219,934 41,621,191
Treasury stock, 3,291,238 shares in 2019 and 3,223,529 shares in 2018, at cost (3,440,104) (3,278,819)
Total stockholders’ equity 62,042,890 59,605,432
Total liabilities and stockholders’ equity $ 126,382,851 $ 112,548,475

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