SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2017

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Summary of stock option activity

	Shares	Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term  (in years)	Aggregate Intrinsic Value
Outstanding - January 1, 2017	37,750	$	4.75
Exercised	—	—
Cancelled	—	—
Outstanding - March 31, 2017	37,750	$	4.75	3.97	$	6,525
Exercisable - March 31, 2017	37,750	$	4.75	3.97	$	6,525

Schedule of inventories

	March 31			December 31
	2017			2016
Raw Materials	$	15,414,139		$	14,533,690
Work in Process	4,179,472			4,104,968
Finished Goods	2,896,642			2,688,596
Reserves	(815,017		)	(673,413		)
Total	$	21,675,236		$	20,653,841

Schedule of other intangible assets

	March 31, 2017
	Gross
	Carrying		Accumulated		Net Book
	Amount		Amortization		Value
Customer Relationships	$	1,302,000	$	253,165	$	1,048,835
Trade Names	$	814,000	$	71,225	$	742,775
Intellectual Property	$	100,000	$	2,778	$	97,222
Bond Issue Costs	$	79,373	$	56,884	$	22,489
Totals	$	2,295,373	$	384,052	$	1,911,321

	December 31, 2016
	Gross
	Carrying		Accumulated		Net Book
	Amount		Amortization		Value
Customer Relationships	$	1,302,000	$	216,998	$	1,085,002
Trade Names	$	814,000	$	61,050	$	752,950
Intellectual Property	$	—	$	—	$	—
Bond Issue Costs	$	79,373	$	55,561	$	23,812
Totals	$	2,195,373	$	333,609	$	1,861,764

Schedule of estimated future amortization expense

Remainder of 2017	$	168,000
2018	224,000
2019	224,000
2020	196,000
2021	188,000
Thereafter	911,321
Total	$	1,911,321