SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
9 Months Ended |
Sep. 30, 2016 |
|---|
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
|
| Summary of option activity |
|
|
|
Shares
|
|
Weighted-Average
Exercise
Price Per
Share
|
|
Weighted-
Average
Remaining
Contractual
Term
(in years)
|
|
Aggregate
Intrinsic Value
|
|
|
Outstanding - January 1, 2016
|
|
139,750
|
|
$
|
6.66
|
|
|
|
|
|
|
Exercised
|
|
(1,507
|
)
|
3.20
|
|
|
|
|
|
|
Cancelled
|
|
(59,493
|
)
|
7.18
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding - September 30, 2016
|
|
78,750
|
|
$
|
6.33
|
|
2.19
|
|
$
|
8,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercisable - September 30, 2016
|
|
78,750
|
|
$
|
6.33
|
|
2.19
|
|
$
|
8,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of inventories |
|
|
|
September 30
|
|
December 31
|
|
|
|
|
2016
|
|
2015
|
|
|
Raw Materials
|
|
$
|
14,868,590
|
|
$
|
13,782,411
|
|
|
Work in Process
|
|
4,684,076
|
|
4,674,223
|
|
|
Finished Goods
|
|
2,835,128
|
|
2,478,423
|
|
|
Reserve
|
|
(645,271
|
)
|
(749,612
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
21,742,523
|
|
$
|
20,185,445
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of intangible assets |
|
|
|
September 30, 2016
|
|
|
|
|
Gross
|
|
|
|
|
|
|
|
|
Carrying
|
|
Accumulated
|
|
Net Book
|
|
|
|
|
Amount
|
|
Amortization
|
|
Value
|
|
|
Customer Relationships
|
|
$
|
1,302,000
|
|
$
|
180,830
|
|
$
|
1,121,170
|
|
|
Trade Names
|
|
$
|
814,000
|
|
$
|
50,875
|
|
$
|
763,125
|
|
|
Bond Issue Costs
|
|
$
|
79,373
|
|
$
|
54,240
|
|
$
|
25,133
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Totals
|
|
$
|
2,195,373
|
|
$
|
285,945
|
|
$
|
1,909,428
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2015
|
|
|
|
|
Gross
|
|
|
|
|
|
|
|
|
Carrying
|
|
Accumulated
|
|
Net Book
|
|
|
|
|
Amount
|
|
Amortization
|
|
Value
|
|
|
Customer Relationships
|
|
$
|
1,302,000
|
|
$
|
72,333
|
|
$
|
1,229,667
|
|
|
Trade Names
|
|
$
|
814,000
|
|
$
|
20,350
|
|
$
|
793,650
|
|
|
Bond Issue Costs
|
|
$
|
79,373
|
|
$
|
50,270
|
|
$
|
29,103
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Totals
|
|
$
|
2,195,373
|
|
$
|
142,953
|
|
$
|
2,052,420
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of estimated future amortization expense |
|
|
|
|
|
|
Remainder of 2016
|
|
$
|
31,000
|
|
|
2017
|
|
191,000
|
|
|
2018
|
|
191,000
|
|
|
2019
|
|
191,000
|
|
|
2020
|
|
191,000
|
|
|
Thereafter
|
|
1,114,428
|
|
|
|
|
|
|
|
Total
|
|
$
|
1,909,428
|
|
|
|
|
|
|
|
|