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CONDENSED STATEMENTS OF OPERATIONS (USD $)
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3 Months Ended | 9 Months Ended | ||
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Sep. 30, 2013
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Sep. 30, 2012
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Sep. 30, 2013
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Sep. 30, 2012
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| CONDENSED STATEMENTS OF OPERATIONS | ||||
| Sales, net | $ 9,160,278 | $ 9,444,157 | $ 23,240,623 | $ 25,602,046 |
| Cost of sales | ||||
| Cost of manufactured product | 5,094,432 | 5,318,351 | 13,534,753 | 14,114,956 |
| Royalty expense to shareholders | 748,044 | 772,142 | 1,872,553 | 1,962,780 |
| Total cost of sales | 5,842,476 | 6,090,493 | 15,407,306 | 16,077,736 |
| Gross profit | 3,317,802 | 3,353,664 | 7,833,317 | 9,524,310 |
| Operating expenses: | ||||
| Sales and marketing | 1,092,505 | 1,034,419 | 3,235,528 | 2,939,142 |
| Research and development | 267,991 | 244,015 | 648,224 | 601,008 |
| General and administrative | 2,782,623 | 2,286,614 | 8,527,295 | 7,372,663 |
| Total operating expenses | 4,143,119 | 3,565,048 | 12,411,047 | 10,912,813 |
| Loss from operations | (825,317) | (211,384) | (4,577,730) | (1,388,503) |
| Interest and other income | 6,551 | 11,286 | 27,149 | 34,199 |
| Interest expense, net | (59,533) | (68,994) | (172,236) | (211,344) |
| Loss before income taxes | (878,299) | (269,092) | (4,722,817) | (1,565,648) |
| Provision for income taxes | 62,085 | 3,869 | 65,836 | 26,372 |
| Net loss | (940,384) | (272,961) | (4,788,653) | (1,592,020) |
| Preferred stock dividend requirements | (228,999) | (229,527) | (687,066) | (688,581) |
| Loss applicable to common shareholders | $ (1,169,383) | $ (502,488) | $ (5,475,719) | $ (2,280,601) |
| Basic loss per share (in dollars per share) | $ (0.04) | $ (0.02) | $ (0.20) | $ (0.09) |
| Diluted loss per share (in dollars per share) | $ (0.04) | $ (0.02) | $ (0.20) | $ (0.09) |
| Weighted average common shares outstanding - basic and diluted (in shares) | 26,719,608 | 26,972,818 | 27,000,158 | 25,870,073 |
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- Definition
The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Royalty expense incurred and are directly related to goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Income derived from investments in debt and equity securities and on cash and cash equivalents. Interest income represents earnings which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Dividend income represents a distribution of earnings to shareholders by investee companies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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The net result for the period of deducting operating expenses from operating revenues. No definition available.
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The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
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- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
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- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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