SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of inventories

Inventories consist of the following at:

	September 30, 2015		December 31, 2014
Raw materials	$	2,128,070	$	2,323,863
Work in process		437,357		346,494
Finished goods		445,110		967,942
	$	3,010,537	$	3,638,299

Schedule of weighted average shares used for computation of basic and diluted earnings per share

Basic earnings per share is computed by dividing net income or loss by the weighted-average number of common shares outstanding for the period. Diluted income per share reflects the potential dilution from the exercise or conversion of other securities into common stock, but only if dilutive.  The following securities, presented on a common share equivalent basis for the three- and nine-month periods ended September 30, 2015 and 2014, have been included in the earnings per share computations:

	For the three months ended		For the nine months ended
	September 30, 2015	September 30, 2014	September 30, 2015	September 30, 2014
Basic	9,628,248	9,611,139	9,625,282	9,503,084
Diluted	9,628,248	9,611,139	9,625,282	9,503,084

Schedule of common share equivalent basis, used in diluted per share computations

As there were losses for the three and nine-month periods ended September 30, 2015 and 2014, no common share equivalents  are included in the diluted per share computations.

Assumptions made in calculating fair values of options

As there were losses for the three and nine-month periods ended September 30, 2015 and 2014, no common share equivalents  are included in the diluted per share computations.

Stock option activity

The following table provides stock option activity for the nine months ended September 30, 2015:

Stock Options	Number of Shares			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at December 31, 2014		691,869		$	3.66	3.97 years	$	334,636
Granted		-			0.00
Exercised		(41,141	)		2.25
Forfeited/expired/cancelled		-			0.00
Outstanding at September 30, 2015		650,728		$	3.75	3.45 years	$	319,478
Exercisable at September 30, 2015		348,478		$	3.87	2.21 years	$	165,801

Net product sales by geographic area

	For the three months ended				For the nine months ended
	September 30, 2015		September 30, 2014		September 30, 2015		September 30, 2014
Africa	$	341,520	$	541,944	$	3,049,257	$	1,791,749
Asia		37,569		6,058		147,722		80,815
Europe		474,164		34,205		696,998		105,230
North America		1,579,588		2,479,410		3,965,356		9,012,447
South America		3,776,784		4,186,264		10,286,531		8,410,274
	$	6,209,625	$	7,247,881	$	18,145,864	$	19,400,515

Schedule of accounts payable and accrued liabilities

Accounts payable and accrued liabilities consist of:

	September 30, 2015		December 31, 2014
Accounts payable – suppliers	$	1,377,824	$	1,980,120
Accrued commissions		1,133,092		947,451
Accrued royalties / license fees		1,028,540		1,034,062
Accrued payroll		290,090		106,487
Accrued vacation		256,556		219,924
Accrued bonuses		177,700		265,500
Accrued expenses – other		150,348		392,486
TOTAL	$	4,414,150	$	4,946,030