SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 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 - September 30, 2017	187,750	$	3.70	8.38	$	2,465
Exercisable - September 30, 2017	37,750	$	4.75	3.45	$	2,465

Schedule of inventories

	September 30,			December 31,
	2017			2016
Raw Materials	$	15,709,671		$	14,533,690
Work in Process	3,794,829			4,104,968
Finished Goods	2,509,124			2,688,596
Reserves	(945,258		)	(673,413		)
Total	$	21,068,366		$	20,653,841

Schedule of other intangible assets

	September 30, 2017
	Gross
	Carrying		Accumulated		Net Book
	Amount		Amortization		Value
Customer Relationships	$	1,302,000	$	325,498	$	976,502
Trade Names	814,000		91,576		722,424
Intellectual Property	100,000		19,445		80,555
Bond Issue Costs	79,373		79,373		—
Totals	$	2,295,373	$	515,892	$	1,779,481

	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	$	54,678
2018	218,712
2019	218,712
2020	190,925
2021	185,376
Thereafter	911,078
Total	$	1,779,481