SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2018

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Summary of option activity

	Shares	Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding - January 1, 2018	187,750	$	3.70
Granted	134,000	3.77
Exercised	—	—
Cancelled	—	—
Outstanding - June 30, 2018	321,750	$	3.56	8.53	$	18
Exercisable - June 30, 2018	87,750	$	4.00	6.21	$	3

Schedule of inventories

Inventories are as follows (in thousands):

	June 30,			December 31,
	2018			2017
Raw Materials	$	14,397		$	13,870
Work in Process	307			3,112
Finished Goods	182			2,389
Reserves	(917		)	(844		)
Total	$	13,969		$	18,527

Schedule of other intangible assets

Other intangible assets at June 30, 2018 and December 31, 2017 are as follows (in thousands):

		June 30, 2018
		Gross
		Carrying		Accumulated		Net Book
	Years	Amount		Amortization		Value
Customer Relationships	9	$	1,302	$	434	$	868
Trade Names	3	100		44		56
Intellectual Property	20	814		122		692
Patents	7	17		—		17
Totals		$	2,233	$	600	$	1,633

		December 31, 2017
		Gross
		Carrying		Accumulated		Net Book
	Years	Amount		Amortization		Value
Customer Relationships	9	$	1,302	$	361	$	941
Intellectual Property	3	100		28		72
Trade Names	20	814		102		712
Patents	7	14		—		14
Totals		$	2,230	$	491	$	1,739

Schedule of estimated future annual amortization expense

Estimated future annual amortization expense (not including projects in process) related to these assets is approximately as follows (in thousands):

Year	Amount
Remainder of 2018	$	110
2019	219
2020	191
2021	185
2022	185
Thereafter	726
Total	$	1,616