BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
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12 Months Ended |
Dec. 31, 2016 |
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| BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract] |
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| Reconciliation of allowance for sales returns |
The following is a reconciliation of the allowance for sales returns:
| | | Year Ended December 31, | | | | | 2016 | | | 2015 | | Balance, beginning of period | | $ | 731,000 | | | $ | 910,000 | | Additions charged to operations | | | 3,574,297 | | | | 3,651,741 | | Sales returns | | | (3,890,297 | ) | | | (3,830,741 | ) | Balance, end of period | | $ | 415,000 | | | $ | 731,000 | |
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| Reconciliation of allowance for doubtful accounts |
The following is a reconciliation of the allowance for doubtful accounts:
| | | Year Ended December 31, | | | | | 2016 | | | 2015 | | Balance, beginning of period | | $ | 1,137,000 | | | $ | 1,074,000 | | (Reductions) additions charged to operations | | | (73,300 | ) | | | 89,462 | | Write-offs, net of recoveries | | | (837,700 | ) | | | (26,462 | ) | Balance, end of period | | $ | 226,000 | | | $ | 1,137,000 | |
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| Schedule of estimated useful life of property, plant and equipment |
Property and equipment are stated at cost and are depreciated over their estimated useful lives using the straight-line method as follows:
Machinery and equipment | 5 to 12 years | Computer hardware | 3 to 5 years | Computer software | 3 years | Furniture and fixtures | 5 to 10 years | Leasehold improvements | Shorter of the estimated useful life or the lease term |
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| Reconciliation of basic and diluted net loss per share |
The following table reconciles the differences between the basic and diluted net loss per share presentations:
| | | Year Ended December 31, | | | | | 2016 | | | 2015 | | Numerator: | | | | | | | Net loss from continuing operations | | $ | (3,952,035 | ) | | $ | (5,087,272 | ) | Net loss from discontinued operations | | | (573,726 | ) | | | (4,485,787 | ) | Net loss | | $ | (4,525,761 | ) | | $ | (9,573,059 | ) | | | | | | | | | | | Denominator: | | | | | | | | | Weighted average common shares outstanding: | | | | | | | | | Basic | | | 20,926,120 | | | | 20,407,764 | | Stock options | | | - | | | | - | | Diluted | | | 20,926,120 | | | | 20,407,764 | | | | | | | | | | | | Net loss per common share: | | | | | | | | | Basic-continuing operations | | $ | (0.19 | ) | | $ | (0.25 | ) | Basic-discontinued operations | | | (0.03 | ) | | | (0.22 | ) | Basic-total | | $ | (0.22 | ) | | $ | (0.47 | ) | | | | | | | | | | | Diluted-continuing operations | | $ | (0.19 | ) | | $ | (0.25 | ) | Diluted-discontinued operations | | | (0.03 | ) | | | (0.22 | ) | Diluted-total | | $ | (0.22 | ) | | $ | (0.47 | ) |
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