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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2013
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of status of all stock options

 

Shares

 

Weighted-
Average
Exercise
Price Per
Share

 

Weighted-
Average
Remaining
Contractual
Term
(in years)

 

Aggregate
Intrinsic Value

 

Outstanding - January 1, 2013

 

288,750

 

$

7.19

 

 

 

 

 

Granted

 

29,000

 

$

3.20

 

 

 

 

 

Cancelled

 

(50,000

)

$

7.22

 

 

 

 

 

Outstanding - March 31, 2013

 

267,750

 

$

6.75

 

3.53

 

$

3,190

 

Exercisable - March 31, 2013

 

238,750

 

$

7.19

 

2.76

 

$

 

Schedule of inventories

 

March 31

 

December 31

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Raw Materials

 

$

14,232,405

 

$

13,325,525

 

Work in Process

 

3,315,460

 

2,704,653

 

Finished Goods

 

3,098,023

 

3,108,839

 

Reserve

 

(1,528,486

)

(1,474,155

)

 

 

 

 

 

 

Total

 

$

19,117,402

 

$

17,664,862

 

 

Schedule of finite life intangible assets

 

 

Remaining

 

Gross

 

 

 

 

 

 

 

Lives

 

Carrying

 

Accumulated

 

Net Book

 

 

 

(Years)

 

Amount

 

Amortization

 

Value

 

March 31, 2013

 

8

 

$

79,373

 

$

35,718

 

$

43,655

 

December 31, 2012

 

9

 

$

79,373

 

$

34,395

 

$

44,978