SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 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		3.36
Exercised	—		—
Cancelled	(3,000	)	3.29
Outstanding - September 30, 2018	318,750		$	3.62	8.27	$	210
Exercisable - September 30, 2018	87,750		$	4.00	5.97	$	54

Schedule of inventories

Inventories are as follows (in thousands):

	September 30,			December 31,
	2018			2017
Raw Materials	$	15,595		$	13,870
Work in Process	437			3,112
Finished Goods	166			2,389
Reserves	(962		)	(844		)
Total	$	15,236		$	18,527

Schedule of other intangible assets

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

		September 30, 2018
		Gross
		Carrying		Accumulated		Net Book
	Years	Amount		Amortization		Value
Customer Relationships	9	$	1,302	$	470	$	832
Trade Names	3	100		53		47
Intellectual Property	20	814		132		682
Patents	7	17		—		17
Totals		$	2,233	$	655	$	1,578

		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	$	164
2019	208
2020	185
2021	185
2022	185
Thereafter	634
Total	$	1,561