NOCOPI TECHNOLOGIES INC/MD/ (NNUP)
Nocopi Technologies, Inc. specializes in the creation and commercialization of unique reactive inks, primarily for the educational and entertainment product sectors. They also provide advanced technological solutions for document and product verification. Their specialized inks are found in various paper-based items, including coloring books, activity kits, board games, greeting cards, play sheets, single-use placemats, and promotional products. Beyond inks, Nocopi offers sophisticated anti-counterfeiting and anti-diversion technologies. These solutions are vital for confirming the authenticity of high-value documents such as merchandise receipts, checks, traveler's checks, gift certificates, and event tickets. The company also extends these services to product labeling and packaging. Additionally, Nocopi licenses its patented reactive ink technologies to businesses operating within the entertainment, toy, and authentication industries. With a broad international footprint, Nocopi conducts operations across North America, South America, Asia, and Australia. Established in 1983, the company's headquarters are located in King of Prussia, Pennsylvania.
Sector: Games, Toys & Children's Vehicles (No Dolls & Bicycles)
Industry: Chemicals - Specialty
Nocopi Technologies, Inc.
OTC:NNUPBasic Materials · Chemicals - Specialty
Mkt Cap$19.96M
Float5.01M
O/S11.74M
Inst Own-
SI0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$1.49M
Net Income-$155K
Total Assets$14.04M
Free Cash Flow$714K
Debt & Equity
Debt 1%
Equity 99%
Total Debt$169K
Total Equity$13.6M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
- 1:10Reverse splitSep 2, 202210 shares → 1
Balance Sheet Details
Assets$14.04M
Liabilities$434K
Accounts Receivable$937K
Accounts Payable$31K
Inventory$457K
PP&E (Net)$423K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 | FY 1996 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 | 1998-12-31 | 1997-12-31 | 1996-12-31 |
| Revenue | $1.49M | $2.12M | $2.08M | $4.63M | $1.95M | $2.66M | $2.54M | $3.34M | $1.57M | $1.38M | $951K | $923K | $750K | $637K | $714K | $659K | $668K | $941K | $1.39M | $767K | $528K | $628K | $572K | $737K | $772K | $1.23M | $1.7M | $2.42M | $3.05M | $3.64M |
| YoY Growth | -29.5% | 1.6% | -55.0% | 137.1% | -26.6% | 4.8% | -24.1% | 113.3% | 13.3% | 45.5% | 3.0% | 23.0% | 17.8% | -10.7% | 8.3% | -1.4% | -29.0% | -32.5% | 81.8% | 45.1% | -15.9% | 9.9% | -22.4% | -4.6% | -37.3% | -27.6% | -29.9% | -20.4% | -16.3% | - |
| Cost of Revenue | $680K | $1.02M | $982K | $728K | $738K | $1.12M | $842K | $561K | $443K | $442K | $333K | $324K | $286K | $202K | $262K | $276K | $326K | $343K | $549K | $382K | $207K | $263K | $312K | $379K | $366K | $574K | $437K | $945K | $1.54M | $1.06M |
| Gross Profit | $813K | $1.1M | $1.1M | $3.9M | $1.21M | $1.53M | $1.7M | $2.78M | $1.12M | $941K | $618K | $599K | $465K | $435K | $451K | $383K | $343K | $598K | $845K | $385K | $321K | $365K | $259K | $358K | $406K | $657K | $1.26M | $1.48M | $1.5M | $2.58M |
| Gross Margin | 54.5% | 52.0% | 52.9% | 84.3% | 62.2% | 57.7% | 66.8% | 83.2% | 71.7% | 68.0% | 65.0% | 64.9% | 61.9% | 68.3% | 63.2% | 58.2% | 51.3% | 63.6% | 60.6% | 50.2% | 60.8% | 58.1% | 45.4% | 48.6% | 52.6% | 53.4% | 74.3% | 61.0% | 49.4% | 70.9% |
| Research and Development | $180K | $178K | $163K | $140K | $182K | $174K | $166K | $153K | $146K | $139K | $128K | $122K | $112K | $109K | $114K | $132K | $166K | $167K | $165K | $145K | $146K | $170K | $203K | $254K | $252K | $203K | $146K | $376K | $481K | $805K |
| Selling, General, and Administrative | $1.23M | $4.22M | $2.81M | $1.71M | $1.01M | $883K | $724K | $757K | $571K | $531K | $528K | $448K | $366K | $469K | $521K | $485K | $632K | $794K | $423K | $379K | $389K | $523K | $498K | $1.02M | $985K | $669K | $1.5M | $1.52M | $1.57M | $2.44M |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $47K | $415K | $0 | $0 | $0 | $0 | $0 | $0 | $1.6M | $157K | $1.76M | $139K |
| Total Operating Expenses | $1.41M | $4.4M | $2.97M | $1.85M | $1.19M | $1.06M | $889K | $910K | $718K | $670K | $657K | $570K | $478K | $579K | $635K | $618K | $798K | $961K | $634K | $561K | $535K | $694K | $701K | $1.27M | $1.24M | $872K | $1.75M | $2.06M | $2.24M | $3.38M |
| Operating Income (EBIT) | -$601K | -$3.3M | -$1.87M | $2.05M | $46K | $479K | $806K | $1.87M | $406K | $272K | -$39K | $29K | -$13K | -$144K | -$184K | -$234K | -$455K | -$362K | $211K | -$176K | -$214K | -$329K | -$441K | -$915K | -$830K | -$251K | -$484K | -$578K | -$740K | -$800K |
| Operating Margin | -40.3% | -155.8% | -89.8% | 44.2% | 2.4% | 18.0% | 31.8% | 56.0% | 25.9% | 19.6% | -4.1% | 3.1% | -1.7% | -22.6% | -25.7% | -35.6% | -68.1% | -38.5% | 15.2% | -22.9% | -40.5% | -52.3% | -77.2% | -124.2% | -107.5% | -20.4% | -28.5% | -23.9% | -24.3% | -22.0% |
| Interest Expense | $24K | $23K | $15K | $2K | $2K | $7K | $11K | $12K | $26K | $13K | $36K | $22K | $16K | $10K | $10K | $11K | $4K | $2K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $471K | $561K | $327K | $64K | $21K | $18K | $12K | $3K | $500 | $0 | $0 | $300 | $0 | $0 | $0 | $0 | $0 | $3K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | $447K | $621K | $312K | $62K | $19K | $11K | $900 | -$9K | -$25K | -$13K | $21K | -$21K | $23K | -$2K | $156K | -$11K | $66K | $92K | $175K | -$14K | -$2K | -$11K | $0 | -$9K | $0 | -$144K | -$809K | -$64K | -$135K | $277K |
| Income Before Tax (EBT) | -$155K | -$2.68M | -$1.56M | $2.11M | $44K | $490K | $807K | $1.86M | $381K | $259K | -$18K | $8K | $10K | -$146K | $27K | -$245K | -$389K | -$271K | $387K | -$190K | $0 | $0 | $468K | $0 | $0 | -$395K | -$1.29M | -$642K | -$875K | -$522K |
| Income Tax Expense | $0 | $0 | -$123K | $295K | -$6K | -$18K | $52K | $206K | $500 | $0 | $0 | $0 | $0 | $0 | -$156K | $0 | $4K | $900 | $800 | $0 | $2K | $11K | -$900K | $9K | -$2K | $24K | $778K | -$30K | $107K | -$391K |
| Net Income | -$155K | -$2.68M | -$1.44M | $1.81M | $49K | $508K | $755K | $1.66M | $381K | $259K | -$18K | $8K | $10K | -$146K | -$27K | -$245K | -$389K | -$272K | $386K | -$190K | -$216K | -$339K | $459K | -$925K | -$829K | -$383K | -$1.26M | -$549K | -$847K | -$408K |
| Net Income Margin | -10.4% | -126.5% | -68.9% | 39.2% | 2.5% | 19.1% | 29.8% | 49.5% | 24.3% | 18.7% | -1.9% | 0.8% | 1.4% | -22.9% | -3.8% | -37.2% | -58.3% | -28.9% | 27.7% | -24.8% | -40.9% | -54.0% | 80.3% | -125.5% | -107.3% | -31.1% | -74.3% | -22.6% | -27.8% | -11.2% |
| Supplementary Data | ||||||||||||||||||||||||||||||
| EPS | -0.01 | -0.25 | -0.15 | 0.24 | 0.01 | 0.08 | 0.13 | 0.28 | 0.10 | 0.04 | -0.00 | 0.00 | 0.00 | -0.02 | -0.00 | -0.04 | -0.07 | -0.05 | 0.10 | -0.04 | -0.04 | -0.07 | 0.10 | -0.22 | -0.22 | -0.11 | -0.37 | -0.16 | -0.49 | -0.29 |
| Diluted EPS | -0.01 | -0.25 | -0.15 | 0.24 | 0.01 | 0.08 | 0.13 | 0.28 | 0.10 | 0.04 | -0.00 | 0.00 | 0.00 | -0.02 | -0.00 | -0.04 | -0.07 | -0.05 | 0.10 | -0.04 | -0.04 | -0.07 | 0.10 | -0.22 | -0.22 | -0.11 | -0.37 | -0.16 | -0.49 | -0.29 |
| Weighted Average OS | 10.80M | 10.53M | 9.67M | 7.58M | 6.74M | 6.41M | 5.94M | 5.86M | 5.86M | 5.86M | 5.86M | 5.86M | 5.86M | 5.86M | 5.81M | 5.60M | 5.31M | 5.23M | 5.21M | 5.12M | 5.06M | 4.76M | 4.60M | 4.25M | 3.74M | 3.38M | 3.37M | 3.36M | 1.72M | 1.41M |
| EBITDA | -$49K | -$2.56M | -$1.5M | $2.08M | $76K | $501K | $817K | $1.88M | $414K | $279K | $24K | $33K | -$12K | -$133K | -$184K | -$227K | -$455K | -$256K | $231K | -$153K | -$197K | -$308K | -$428K | -$897K | -$807K | -$178K | -$386K | -$453K | -$585K | -$644K |
| EBITDA Margin | -3.3% | -120.8% | -71.8% | 44.9% | 3.9% | 18.8% | 32.2% | 56.3% | 26.4% | 20.2% | 2.5% | 3.6% | -1.6% | -20.9% | -25.7% | -34.4% | -68.1% | -27.2% | 16.6% | -19.9% | -37.3% | -49.1% | -75.0% | -121.7% | -104.5% | -14.5% | -22.7% | -18.7% | -19.2% | -17.7% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 | FY 1996 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 | 1998-12-31 | 1997-12-31 | 1996-12-31 |
| Assets | ||||||||||||||||||||||||||||||
| Current Assets | ||||||||||||||||||||||||||||||
| Cash and Cash Equivalents | $11.55M | $10.84M | $2.27M | $5.34M | $1.85M | $1.36M | $688K | $401K | $360K | $199K | $11K | $28K | $53K | $21K | $23K | $11K | $37K | $87K | $264K | $53K | $4K | $24K | $90K | $139K | $100 | $187K | $750K | $1.37M | $2.71M | $2.23M |
| Short-Term Investments | $0 | $0 | $7.99M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $11.55M | $10.84M | $10.25M | $5.34M | $1.85M | $1.36M | $688K | $401K | $360K | $199K | $11K | $28K | $53K | $21K | $23K | $11K | $37K | $87K | $264K | $53K | $4K | $24K | $90K | $139K | $100 | $187K | $750K | $1.37M | $2.71M | $2.23M |
| Accounts Receivable | $937K | $1.23M | $1.28M | $1.1M | $971K | $1.28M | $1.35M | $579K | $292K | $243K | $253K | $288K | $237K | $69K | $32K | $171K | $140K | $167K | $222K | $142K | $98K | $154K | $90K | $39K | $40K | $72K | $109K | $131K | $167K | $513K |
| Inventory | $457K | $350K | $448K | $486K | $423K | $325K | $128K | $134K | $111K | $71K | $37K | $44K | $29K | $26K | $21K | $35K | $66K | $97K | $92K | $58K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6K | $5K |
| Other Current Assets | $144K | $156K | $122K | $103K | $160K | $98K | $135K | $44K | $35K | $30K | $0 | $0 | $0 | $0 | $23K | $0 | $0 | $36K | $56K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $114K | $0 | $0 | $0 |
| Total Current Assets | $13.09M | $12.58M | $12.11M | $7.03M | $3.4M | $3.07M | $2.3M | $1.16M | $798K | $543K | $324K | $378K | $350K | $139K | $99K | $254K | $279K | $387K | $634K | $278K | $142K | $207K | $220K | $209K | $62K | $298K | $973K | $1.56M | $2.94M | $2.85M |
| Long-Term Assets | ||||||||||||||||||||||||||||||
| Property, Plant & Equipment Net | $423K | $49K | $54K | $123K | $204K | $248K | $272K | $8K | $14K | $15K | $21K | $18K | $2K | $600 | $4K | $10K | $15K | $24K | $33K | $24K | $35K | $52K | $72K | $14K | $33K | $56K | $78K | $105K | $114K | $182K |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $519K | $537K | $452K |
| Long-Term Investments | $775K | $1.29M | $1.84M | $2.46M | $185K | $560K | $957K | $1.35M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $206K | $209K | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $47K | $109K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | -$251K | $0 | $1.84M | $0 | $0 | $0 | $910K | $1.24M | $0 | $0 | $0 | $0 | $0 | -$600 | $0 | $0 | $0 | $0 | $0 | $0 | $50K | $100K | $150K | $111K | $111K | $111K | $296K | $7K | $17K | $46K |
| Total Long-Term Assets | $946K | $1.34M | $1.89M | $2.59M | $389K | $807K | $1.23M | $1.36M | $14K | $15K | $21K | $18K | $2K | $600 | $4K | $10K | $15K | $24K | $33K | $24K | $85K | $152K | $222K | $125K | $143K | $167K | $374K | $837K | $877K | $680K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $14.04M | $13.92M | $14M | $9.62M | $3.79M | $3.87M | $3.53M | $2.52M | $813K | $558K | $345K | $396K | $352K | $140K | $103K | $263K | $294K | $412K | $667K | $302K | $227K | $359K | $441K | $334K | $206K | $465K | $1.35M | $2.39M | $3.81M | $3.53M |
| Liabilities | ||||||||||||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||||||||||||
| Accounts Payable | $31K | $21K | $28K | $98K | $4K | $6K | $44K | $17K | $5K | $33K | $76K | $160K | $170K | $246K | $180K | $263K | $268K | $272K | $364K | $409K | $469K | $417K | $366K | $649K | $237K | $153K | $157K | $220K | $321K | $540K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $98K | $128K | $128K | $138K | $56K | $166K | $111K | $133K | $113K | $144K | $100K | $0 | $0 | $99K | $18K | $0 | $150K | $160K | $0 | $0 | $125K | $0 | $950K | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $287K | $0 | $36K | $52K | $39K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $800 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $99K | $106K | $112K | $93K | $114K | $26K | $43K | $47K | $14K | $10K | $5K | $6K | $10K | $25K | $72K | $121K | $63K | $44K | $0 | $0 | $290K | $0 |
| Other Current Liabilities | $0 | $108K | $95K | $287K | $0 | $36K | $52K | $39K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $666K | $122K | $69K | $164K |
| Total Current Liabilities | $291K | $191K | $1.49M | $609K | $203K | $265K | $468K | $346K | $597K | $738K | $688K | $803K | $701K | $606K | $437K | $597K | $489K | $399K | $507K | $811K | $774K | $707K | $853K | $1.2M | $562K | $410K | $948K | $611K | $1.63M | $962K |
| Long-Term Liabilities | ||||||||||||||||||||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $95K | $32K | $99K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $125K | $0 | $950K |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $47K | $109K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $54K | $90K | $129K | $172K | $13K | $39K | $67K | $95K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.45M |
| Total Long-Term Liabilities | $143K | $90K | $129K | $190K | $81K | $155K | $275K | $204K | $0 | $0 | $95K | $32K | $99K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $125K | $0 | $2.4M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $434K | $282K | $1.62M | $799K | $284K | $420K | $743K | $550K | $597K | $738K | $783K | $834K | $799K | $606K | $437K | $597K | $489K | $399K | $507K | $811K | $774K | $707K | $853K | $1.2M | $562K | $410K | $948K | $736K | $1.63M | $3.36M |
| Stockholders' Equity | ||||||||||||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $1 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $108K | $108K | $105K | $93K | $675K | $674K | $610K | $586K | $586K | $586K | $586K | $586K | $586K | $586K | $584K | $579K | $550K | $523K | $523K | $517K | $506K | $506K | $460K | $460K | $391K | $338K | $338K | $336K | $336K | $141K |
| Retained Earnings | -$12.2M | -$12.05M | -$9.37M | -$7.93M | -$9.75M | -$9.8M | -$10.3M | -$11.06M | -$12.81M | -$13.19M | -$13.45M | -$13.43M | -$13.44M | -$13.45M | -$13.3M | -$13.28M | -$13.03M | -$12.64M | -$12.37M | -$12.76M | -$12.57M | -$12.35M | -$12.01M | -$12.47M | -$11.55M | -$10.72M | -$10.34M | -$9.07M | -$8.52M | -$7.68M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$198K | -$191K | -$183K | -$176K | -$178K | -$257K | -$256K | -$253K | -$247K | -$242K | -$233K | -$549K | -$529K | -$512K | -$495K | -$475K | -$502K | $0 | $0 | -$40K | -$13K | -$24K | $57K |
| Other Stockholders' Equity | $25.7M | $25.58M | $21.65M | $16.66M | $12.58M | $12.58M | $12.48M | $12.44M | $12.44M | $12.43M | $12.43M | $12.41M | $12.41M | $12.4M | $12.39M | $12.37M | $12.29M | $12.13M | $12.01M | $11.73M | $11.51M | $11.5M | $11.14M | $11.14M | $10.8M | $10.43M | $10.4M | $10.39M | $10.37M | $7.71M |
| Total Equity | $13.6M | $13.64M | $12.38M | $8.82M | $3.51M | $3.45M | $2.79M | $1.97M | $215K | -$180K | -$438K | -$438K | -$448K | -$467K | -$334K | -$333K | -$195K | $12K | $160K | -$509K | -$547K | -$348K | -$411K | -$870K | -$357K | $55K | $398K | $1.66M | $2.18M | $172K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $14.04M | $13.92M | $14M | $9.62M | $3.79M | $3.87M | $3.53M | $2.52M | $813K | $558K | $345K | $396K | $352K | $140K | $103K | $263K | $294K | $412K | $667K | $302K | $227K | $359K | $441K | $334K | $206K | $465K | $1.35M | $2.39M | $3.81M | $3.53M |
| Supplementary Data | ||||||||||||||||||||||||||||||
| Total Debt | $169K | $35K | $18K | $68K | $116K | $160K | $300K | $128K | $128K | $138K | $151K | $166K | $111K | $133K | $113K | $144K | $100K | $0 | $0 | $99K | $18K | $0 | $150K | $160K | $0 | $0 | $125K | $125K | $950K | $950K |
| Net Debt | -$11.38M | -$10.8M | -$2.25M | -$5.27M | -$1.73M | -$1.2M | -$388K | -$273K | -$232K | -$61K | $140K | $138K | $58K | $113K | $90K | $134K | $63K | -$87K | -$264K | $46K | $14K | -$24K | $60K | $21K | -$100 | -$187K | -$625K | -$1.25M | -$1.76M | -$1.28M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 | FY 1996 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 | 1998-12-31 | 1997-12-31 | 1996-12-31 |
| Operating Activities | ||||||||||||||||||||||||||||||
| Net Income | -$155K | -$2.68M | -$1.44M | $1.81M | $49K | $508K | $755K | $1.66M | $381K | $259K | -$18K | $8K | $10K | -$146K | -$27K | -$245K | -$389K | -$272K | $386K | -$190K | -$216K | -$339K | $459K | -$925K | -$829K | -$383K | -$1.26M | -$549K | -$847K | -$408K |
| Depreciation & Amortization | $82K | $98K | $47K | $34K | $31K | $22K | $11K | $7K | $8K | $7K | $6K | $4K | $900 | $3K | $6K | $8K | $9K | $13K | $20K | $23K | $17K | $20K | $13K | $19K | $24K | $36K | $99K | $126K | $155K | $156K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | -$47K | -$61K | $109K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $119K | $2.62M | $1.35M | $0 | $0 | $0 | $25K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3K | $20K | $122K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||||||||||||||
| Accounts Receivable | $816K | $592K | $658K | -$2.36M | $310K | $65K | -$773K | -$287K | -$49K | $10K | $35K | -$51K | -$169K | -$37K | $139K | -$31K | $27K | $55K | -$115K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | -$136K | $140K | $38K | -$64K | -$98K | -$197K | $6K | -$23K | -$40K | -$34K | $7K | -$15K | -$3K | -$5K | $14K | $31K | $31K | -$5K | -$34K | -$58K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$400 | $17K |
| Accounts Payable | $10K | -$7K | -$244K | $228K | -$29K | -$46K | $109K | -$190K | -$123K | -$26K | $32K | $72K | $68K | $175K | -$113K | $404K | -$69K | -$91K | -$176K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | -$50K | -$124K | -$306K | $344K | -$99K | $21K | -$78K | -$69K | -$13K | -$13K | $15K | -$8K | $80K | -$17K | $112K | -$343K | $129K | $94K | $166K | -$28K | $144K | $27K | -$551K | $480K | $0 | $0 | $0 | -$41K | $409K | -$24K |
| Total Working Capital Change | $639K | $601K | $147K | -$1.86M | $85K | -$157K | -$737K | -$569K | -$224K | -$64K | $89K | -$2K | -$23K | $115K | $152K | $62K | $118K | $53K | -$159K | -$86K | $144K | $27K | -$551K | $480K | $203K | -$277K | $173K | -$41K | $409K | -$7K |
| Other Non-Cash Items | $29K | -$42K | -$125K | $2.27M | $348K | $370K | $368K | -$1.16M | $13K | $500 | -$35K | $5K | -$37K | -$7K | -$112K | $2K | -$69K | -$91K | -$191K | $53K | $17K | $75K | $0 | -$6K | -$1K | $119K | $445K | $49K | $64K | -$359K |
| Net Cash from Operating | $714K | $595K | -$19K | -$8K | $513K | $702K | $361K | $41K | $178K | $203K | $42K | $15K | -$49K | -$34K | $19K | -$170K | -$312K | -$175K | $56K | -$200K | -$38K | -$217K | -$79K | -$433K | -$604K | -$505K | -$546K | -$415K | -$220K | -$618K |
| Investing Activities | ||||||||||||||||||||||||||||||
| Capital Expenditures | $0 | -$10K | -$29K | -$800 | -$32K | -$39K | -$73K | -$500 | -$7K | -$1K | -$9K | -$21K | -$2K | $0 | $0 | -$2K | $0 | -$3K | -$29K | -$5K | $0 | -$800 | -$70K | $0 | $0 | -$15K | -$23K | -$89K | -$157K | -$137K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | -$3.6M | -$4.39M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $7.99M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $4.39M | -$32K | -$39K | -$73K | -$500 | -$7K | -$1K | -$9K | -$21K | $0 | $0 | $0 | $0 | $0 | -$3K | -$29K | $0 | $0 | $0 | $111K | $0 | $0 | $81K | -$54K | -$13K | -$1.69M | $0 |
| Net Cash from Investing | $0 | $7.98M | -$3.63M | -$800 | -$32K | -$39K | -$73K | -$500 | -$7K | -$1K | -$9K | -$21K | -$2K | $0 | $0 | -$2K | $0 | -$3K | -$29K | -$5K | $0 | -$800 | $40K | $0 | $0 | $66K | -$77K | -$102K | -$1.84M | -$137K |
| Financing Activities | ||||||||||||||||||||||||||||||
| Debt Repaid | - | - | - | - | - | - | - | - | - | - | $10K | -$5K | -$105K | - | - | - | - | - | $99K | -$81K | -$18K | - | - | - | - | $125K | - | $825K | - | - |
| Common Stock Issuance | $31K | $0 | $5M | $3.5M | $3K | $11K | $25K | $0 | $400 | $0 | $0 | $0 | $0 | $10K | $18K | $102K | $162K | $0 | $283K | $173K | $0 | $152K | $0 | $411K | $417K | $0 | $0 | $0 | $2.55M | $129K |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $0 | $0 | $3K | $11K | -$25K | $0 | $400 | -$14K | -$40K | $0 | $0 | $0 | $0 | $0 | $0 | $2K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Financing | $0 | $0 | $5M | $3.5M | $3K | $11K | $25K | $0 | -$10K | -$14K | -$50K | -$19K | $83K | $32K | -$7K | $146K | $262K | $2K | $184K | $254K | $18K | $152K | -$11K | $571K | $417K | -$125K | $0 | -$825K | $2.55M | $129K |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | -$25K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$126K |
| Net Change in Cash | $714K | $8.57M | $1.35M | $3.49M | $484K | $675K | $287K | $40K | $161K | $188K | -$17K | -$25K | $32K | -$2K | $12K | -$27K | -$50K | -$176K | $211K | $49K | -$20K | -$66K | -$49K | $139K | -$187K | -$563K | -$623K | -$1.34M | $485K | -$753K |
| Supplementary Data | ||||||||||||||||||||||||||||||
| Operating Cash Flow | $714K | $595K | -$19K | -$8K | $513K | $702K | $361K | $41K | $178K | $203K | $42K | $15K | -$49K | -$34K | $19K | -$170K | -$312K | -$175K | $56K | -$200K | -$38K | -$217K | -$79K | -$433K | -$604K | -$505K | -$546K | -$415K | -$220K | -$618K |
| Capital Expenditure | $0 | -$10K | -$29K | -$800 | -$32K | -$39K | -$73K | -$500 | -$7K | -$1K | -$9K | -$21K | -$2K | $0 | $0 | -$2K | $0 | -$3K | -$29K | -$5K | $0 | -$800 | -$70K | $0 | $0 | -$15K | -$23K | -$89K | -$157K | -$137K |
| Free Cash Flow | $714K | $585K | -$48K | -$9K | $481K | $664K | $287K | $40K | $171K | $201K | $33K | -$6K | -$51K | -$34K | $19K | -$173K | -$312K | -$179K | $27K | -$205K | -$38K | -$218K | -$149K | -$433K | -$604K | -$519K | -$569K | -$504K | -$377K | -$755K |
| Cash at Beginning | $10.84M | $2.27M | $917K | $1.85M | $1.36M | $688K | $401K | $360K | $199K | $11K | $28K | $53K | $21K | $23K | $11K | $37K | $87K | $264K | $53K | $4K | $24K | $90K | $139K | $100 | $187K | $750K | $1.37M | $2.71M | $2.23M | $2.98M |
| Cash at End | $11.55M | $10.84M | $2.27M | $5.34M | $1.85M | $1.36M | $688K | $401K | $360K | $199K | $11K | $28K | $53K | $21K | $23K | $11K | $37K | $87K | $264K | $53K | $4K | $24K | $90K | $139K | $100 | $187K | $750K | $1.37M | $2.71M | $2.23M |