SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 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
Granted	150,000	3.43
Exercised	—	—
Cancelled	—	—
Outstanding - June 30, 2017	187,750	$	3.70	8.63	$	39,525
Exercisable - June 30, 2017	37,750	$	4.75	3.70	$	6,525

Schedule of inventories

	June 30,			December 31,
	2017			2016
Raw Materials	$	15,323,226		$	14,533,690
Work in Process	4,516,643			4,104,968
Finished Goods	2,656,769			2,688,596
Reserves	(902,258		)	(673,413		)
Total	$	21,594,380		$	20,653,841

Schedule of other intangible assets

	June 30, 2017
	Gross
	Carrying		Accumulated		Net Book
	Amount		Amortization		Value
Customer Relationships	$	1,302,000	$	289,331	$	1,012,669
Trade Names		814,000		81,400		732,600
Intellectual Property		100,000		11,111		88,889
Bond Issue Costs		79,373		58,207		21,166
Totals	$	2,295,373	$	440,049	$	1,855,324

	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
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	$	112,002
2018	224,004
2019	224,004
2020	196,217
2021	188,020
Thereafter	911,077
Total	$	1,855,324