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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 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 - June 30, 2013

 

267,750

 

$

6.75

 

3.28

 

$

3,480

 

Exercisable - June 30, 2013

 

238,750

 

$

7.19

 

2.51

 

$

 

Schedule of inventories

 

 

 

 

June 30

 

December 31

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Raw Materials

 

$

13,582,936

 

$

13,325,525

 

Work in Process

 

3,713,847

 

2,704,653

 

Finished Goods

 

2,893,897

 

3,108,839

 

Reserve

 

(1,414,567

)

(1,474,155

)

 

 

 

 

 

 

Total

 

$

18,776,113

 

$

17,664,862