v3.25.2

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 14,464,000	$ 18,636,000
Inventories, net	22,361,000	22,733,000
Prepaid expenses	3,938,000	4,376,000
Total current assets	50,543,000	50,639,000
Property and equipment, net	8,310,000	8,520,000
Goodwill	55,000	55,000
Right-of-use assets	8,252,000	8,714,000
Equity investment in unconsolidated affiliate	6,005,000	5,814,000
Total assets	73,165,000	73,742,000
Current liabilities:
Accounts payable	1,380,000	1,283,000
Accrued liabilities	694,000	947,000
Current portion of lease liabilities	941,000	893,000
Total current liabilities	3,015,000	3,123,000
Lease liabilities, net of current portion	7,399,000	7,882,000
Deferred income tax liabilities, net	503,000	503,000
Total liabilities	10,917,000	11,508,000
Commitments and contingincies
Shareholders' equity:
Common stock, $.01 par value: 50,000,000 shares authorized; 10,414,365 and 10,816,878 shares outstanding as of June 30, 2025 and December 31, 2024, respectively	104,000	108,000
Additional paid-in capital	16,008,000	16,368,000
Retained earnings	47,722,000	47,257,000
Accumulated other comprehensive loss	(1,586,000)	(1,499,000)
Total shareholders' equity	62,248,000	62,234,000
Total liabilities and shareholders' equity	73,165,000	73,742,000
Nonrelated Party [Member]
Current assets:
Accounts receivable, net	8,363,000	3,692,000
Related Party [Member]
Current assets:
Accounts receivable, net	$ 1,417,000	$ 1,202,000

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

ALPHA PRO TECH LTD 10-Q