0001104659-16-156770.txt : 20161114 0001104659-16-156770.hdr.sgml : 20161111 20161114134820 ACCESSION NUMBER: 0001104659-16-156770 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 46 CONFORMED PERIOD OF REPORT: 20160930 FILED AS OF DATE: 20161114 DATE AS OF CHANGE: 20161114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RETRACTABLE TECHNOLOGIES INC CENTRAL INDEX KEY: 0000946563 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 752599762 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-16465 FILM NUMBER: 161993377 BUSINESS ADDRESS: STREET 1: 511 LOBO LANE CITY: LITTLE ELM STATE: TX ZIP: 75068-0009 BUSINESS PHONE: 9722941010 MAIL ADDRESS: STREET 1: 511 LOBO LANE CITY: LITTLE ELM STATE: TX ZIP: 75068-0009 10-Q 1 a16-17129_110q.htm 10-Q

Table of Contents

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

 

x  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended September 30, 2016

 

or

 

o   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934

 

For the transition period from                   to

 

Commission file number: 001-16465

 

Retractable Technologies, Inc.

(Exact name of registrant as specified in its charter)

 

Texas

 

75-2599762

(State or other jurisdiction of
incorporation or organization)

 

(I.R.S. Employer
Identification No.)

 

 

 

511 Lobo Lane

 

 

Little Elm, Texas

 

75068-5295

(Address of principal executive offices)

 

(Zip Code)

 

(972) 294-1010

(Registrant’s telephone number, including area code)

 

(Former name, former address, and former fiscal year, if changed since last report)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes x    No o

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).   Yes x    No o

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer o

 

Accelerated filer o

 

 

 

Non-accelerated filer o

 

Smaller reporting company x

(Do not check if a smaller reporting company)

 

 

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o    No x

 

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

 

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13, or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.   Yes o    No o

 

APPLICABLE ONLY TO CORPORATE ISSUERS

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 29,654,754 shares of Common Stock, no par value, outstanding on November 1, 2016.

 

 

 



Table of Contents

 

RETRACTABLE TECHNOLOGIES, INC.

FORM 10-Q

For the Quarterly Period Ended September 30, 2016

 

TABLE OF CONTENTS

 

 

 

PART I—FINANCIAL INFORMATION

 

 

 

 

Item 1.

Financial Statements

1

 

 

 

CONDENSED BALANCE SHEETS

1

CONDENSED STATEMENTS OF OPERATIONS

2

CONDENSED STATEMENTS OF CASH FLOWS

3

NOTES TO CONDENSED FINANCIAL STATEMENTS

4

 

 

 

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

11

 

 

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

16

 

 

 

Item 4.

Controls and Procedures

16

 

 

 

 

PART II—OTHER INFORMATION

 

 

 

 

Item 1.

Legal Proceedings

17

 

 

 

Item 1A.

Risk Factors

17

 

 

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

17

 

 

 

Item 3.

Defaults Upon Senior Securities

17

 

 

 

Item 6.

Exhibits

18

 

 

 

SIGNATURES

19

 



Table of Contents

 

PART I—FINANCIAL INFORMATION

Item 1.       Financial Statements.

RETRACTABLE TECHNOLOGIES, INC.

CONDENSED BALANCE SHEETS

 

 

 

September 30, 2016

 

 

 

 

 

(unaudited)

 

December 31, 2015

 

ASSETS

 

 

 

 

 

Current assets:

 

 

 

 

 

Cash and cash equivalents

$

15,218,714

$

18,045,044

 

Accounts receivable, net

 

5,161,441

 

4,900,997

 

Inventories, net

 

7,204,724

 

6,296,625

 

Other current assets

 

229,410

 

1,568,032

 

Total current assets

 

27,814,289

 

30,810,698

 

 

 

 

 

 

 

Property, plant, and equipment, net

 

12,472,192

 

11,468,061

 

Intangible and other assets, net

 

258,375

 

262,105

 

Total assets

$

40,544,856

$

42,540,864

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

Current liabilities:

 

 

 

 

 

Accounts payable

$

4,709,270

$

5,697,518

 

Current portion of long-term debt

 

259,336

 

249,349

 

Accrued compensation

 

618,743

 

763,576

 

Dividends payable

 

55,113

 

55,414

 

Accrued royalties to shareholder

 

680,287

 

631,145

 

Other accrued liabilities

 

926,043

 

690,535

 

Income taxes payable

 

10,893

 

8,176

 

Total current liabilities

 

7,259,685

 

8,095,713

 

 

 

 

 

 

 

Long-term debt, net of current maturities

 

3,220,066

 

3,417,471

 

Total liabilities

 

10,479,751

 

11,513,184

 

 

 

 

 

 

 

Commitments and contingencies — see Note 6

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

Preferred stock $1 par value:

 

 

 

 

 

Series I, Class B

 

98,500

 

98,500

 

Series II, Class B

 

171,200

 

171,200

 

Series III, Class B

 

129,245

 

129,245

 

Series IV, Class B

 

342,500

 

342,500

 

Series V, Class B

 

40,000

 

40,000

 

Common stock, no par value

 

 

 

Additional paid-in capital

 

59,026,550

 

58,268,036

 

Retained deficit

 

(29,742,890

)

(28,021,801

)

Total stockholders’ equity

 

30,065,105

 

31,027,680

 

Total liabilities and stockholders’ equity

$

40,544,856

$

42,540,864

 

 

See accompanying notes to condensed financial statements

 

 

 

1



Table of Contents

 

RETRACTABLE TECHNOLOGIES, INC.

CONDENSED STATEMENTS OF OPERATIONS

(unaudited)

 

 

 

 

Three Months
Ended
September 30, 2016

 

 

Three Months
Ended
September 30, 2015

 

 

Nine Months
Ended
September 30, 2016

 

 

Nine Months
Ended
September 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales, net

$

8,840,134

 

$

9,482,866

 

 

22,337,169

 

$

22,376,912

 

Cost of sales

 

 

 

 

 

 

 

 

 

 

 

 

Cost of manufactured product

 

4,900,072

 

 

5,489,151

 

 

12,400,679

 

 

12,307,440

 

Royalty expense to shareholders

 

680,287

 

 

770,197

 

 

1,868,064

 

 

1,846,438

 

Total cost of sales

 

5,580,359

 

 

6,259,348

 

 

14,268,743

 

 

14,153,878

 

Gross profit

 

3,259,775

 

 

3,223,518

 

 

8,068,426

 

 

8,223,034

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Sales and marketing

 

1,058,029

 

 

954,955

 

 

2,953,773

 

 

2,826,224

 

Research and development

 

117,939

 

 

125,780

 

 

389,712

 

 

409,764

 

General and administrative

 

2,165,246

 

 

2,342,165

 

 

6,306,085

 

 

7,321,847

 

Total operating expenses

 

3,341,214

 

 

3,422,900

 

 

9,649,570

 

 

10,557,835

 

Loss from operations

 

(81,439

)

 

(199,382

)

 

(1,581,144

)

 

(2,334,801

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Litigation proceeds

 

 

 

 

 

 

 

7,724,826

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and other income

 

8,609

 

 

4,916

 

 

19,822

 

 

20,836

 

Interest expense, net

 

(51,994

)

 

(58,316

)

 

(158,327

)

 

(165,269

)

Net income (loss) before income taxes

 

(124,824

)

 

(252,782

)

 

(1,719,649

)

 

5,245,592

 

Provision for income taxes

 

480

 

 

2,044

 

 

1,440

 

 

6,133

 

Net income (loss)

 

(125,304

)

 

(254,826

)

 

(1,721,089

)

 

5,239,459

 

Preferred stock dividend requirements

 

(176,249

)

 

(227,499

)

 

(528,747

)

 

(682,802

)

Earnings (loss) applicable to common shareholders

$

(301,553

)

$

(482,325

)

 

(2,249,836

)

$

4,556,657

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share

$

(0.01

)

$

(0.02

)

 

(0.08

)

$

0.16

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share

$

(0.01

)

$

(0.02

)

 

(0.08

)

$

0.15

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

29,649,874

 

 

27,873,447

 

 

29,252,652

 

 

27,759,333

 

Diluted

 

29,649,874

 

 

27,873,447

 

 

29,252,652

 

 

29,436,008

 

 

 

 

 

 

 

 

See accompanying notes to condensed financial statements

 

 

2



Table of Contents

 

RETRACTABLE TECHNOLOGIES, INC.

CONDENSED STATEMENTS OF CASH FLOWS

(unaudited)

 

 

 

Nine Months
Ended
September 30, 2016

 

 

Nine Months
Ended
September 30, 2015

 

Cash flows from operating activities

 

 

 

 

 

 

Net income (loss)

$

(1,721,089

)

$

5,239,459

 

Adjustments to reconcile net income (loss) to net cash used by operating activities:

 

 

 

 

 

 

Provision for doubtful accounts

 

92,000

 

 

141,000

 

Share-based compensation

 

84,651

 

 

 

Depreciation and amortization

 

672,000

 

 

645,038

 

(Increase) decrease in assets:

 

 

 

 

 

 

Inventories

 

(908,099

)

 

(1,447,486

)

Accounts receivable

 

(352,444

)

 

474,048

 

Other current assets

 

1,338,622

 

 

419,238

 

Other assets

 

(750

)

 

 

Increase (decrease) in liabilities:

 

 

 

 

 

 

Accounts payable

 

(988,248

)

 

(36,989

)

Litigation proceeds subject to stipulation

 

 

 

(7,724,826

)

Other accrued liabilities

 

139,817

 

 

321,124

 

Income taxes payable

 

2,717

 

 

(2,885

)

Net cash used by operating activities

 

(1,640,823

)

 

(1,972,279

)

 

 

 

 

 

 

 

Cash flows from investing activities

 

 

 

 

 

 

Purchase of property, plant, and equipment

 

(1,671,649

)

 

(1,263,296

)

Change in restricted cash

 

 

 

600,897

 

Net cash used by investing activities

 

(1,671,649

)

 

(662,399

)

 

 

 

 

 

 

 

Cash flows from financing activities

 

 

 

 

 

 

Repayments of long-term debt and notes payable

 

(187,418

)

 

(123,602

)

Proceeds from the exercise of stock options

 

839,200

 

 

283,933

 

Proceeds from long-term debt

 

 

 

276,495

 

Payment of Preferred Stock dividends

 

(165,640

)

 

(227,180

)

Net cash provided by financing activities

 

486,142

 

 

209,646

 

 

 

 

 

 

 

 

Net decrease in cash and cash equivalents

 

(2,826,330

)

 

(2,425,032

)

 

 

 

 

 

 

 

Cash and cash equivalents at:

 

 

 

 

 

 

Beginning of period

 

18,045,044

 

 

22,128,977

 

End of period

$

15,218,714

 

$

19,703,945

 

 

 

 

 

 

 

 

Supplemental schedule of cash flow information:

 

 

 

 

 

 

Interest paid

$

158,325

 

$

165,269

 

Income taxes paid

$

2,025

 

$

9,017

 

 

 

 

 

 

 

 

Supplemental schedule of noncash investing and financing activities:

 

 

 

 

 

 

Preferred dividends declared, not paid

$

55,113

 

$

56,363

 

 

 

 

See accompanying notes to condensed financial statements

 

 

 

3



Table of Contents

 

RETRACTABLE TECHNOLOGIES, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

(unaudited)

 

1.                BUSINESS OF THE COMPANY AND BASIS OF PRESENTATION

 

Business of the Company

 

Retractable Technologies, Inc. (the “Company”) was incorporated in Texas on May 9, 1994, and designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.  The Company began to develop its manufacturing operations in 1995.  The Company’s manufacturing and administrative facilities are located in Little Elm, Texas.  The Company’s products are the VanishPoint® 0.5mL insulin syringe; 1mL tuberculin, insulin, and allergy antigen syringes; 0.5mL, 1mL, 2mL, 3mL, 5mL, and 10mL syringes; the small diameter tube adapter; the blood collection tube holder; the allergy tray; the IV safety catheter; the Patient Safe® syringes; the Patient Safe® Luer Cap; the VanishPoint® Blood Collection Set; and the EasyPoint® needle.  The Company also sells VanishPoint® autodisable syringes in the international market in addition to the Company’s other products.

 

Basis of presentation

 

The accompanying condensed financial statements are unaudited and, in the opinion of Management, reflect all adjustments that are necessary for a fair presentation of the financial position and results of operations for the periods presented.  All such adjustments are of a normal and recurring nature.  The results of operations for the periods presented are not necessarily indicative of the results to be expected for the entire year.  The condensed financial statements should be read in conjunction with the financial statement disclosures contained in the Company’s audited financial statements incorporated into its Form 10-K filed on March 30, 2016 for the year ended December 31, 2015.

 

2.                SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Accounting estimates

 

The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ significantly from those estimates.

 

Cash and cash equivalents

 

For purposes of reporting cash flows, cash and cash equivalents include unrestricted cash, money market accounts, and investments with original maturities of three months or less.

 

Accounts receivable

 

The Company records trade receivables when revenue is recognized.  No product has been consigned to customers.  The Company’s allowance for doubtful accounts is primarily determined by review of specific trade receivables.  Those accounts that are doubtful of collection are included in the allowance.  This provision is reviewed to determine the adequacy of the allowance for doubtful accounts.  Trade receivables are charged off when there is certainty as to their being uncollectible.  Trade receivables are considered delinquent when payment has not been made within contract terms.

 

4



Table of Contents

 

The Company requires certain customers to make a prepayment prior to beginning production or shipment of their order.  Customers may apply such prepayments to their outstanding invoices or pay the invoice and continue to carry forward the deposit for future orders.  Such amounts are included in Other accrued liabilities on the Condensed Balance Sheets and are shown in Note 5, Other Accrued Liabilities.

 

The Company records an allowance for estimated returns as a reduction to Accounts receivable and Gross sales.  Historically, returns have been immaterial.

 

Inventories

 

Inventories are valued at the lower of cost or market, with cost being determined using actual average cost.  The Company compares the average cost to the market price and records the lower value.  Management considers such factors as the amount of inventory on hand and in the distribution channel, estimated time to sell such inventory, the shelf life of inventory, and current market conditions when determining excess or obsolete inventories.  A reserve is established for any excess or obsolete inventories or they may be written off.

 

Property, plant, and equipment

 

Property, plant, and equipment are stated at cost.  Expenditures for maintenance and repairs are charged to operations as incurred.  Cost includes major expenditures for improvements and replacements which extend useful lives or increase capacity and interest cost associated with significant capital additions.  Gains or losses from property disposals are included in income.

 

Depreciation and amortization are calculated using the straight-line method over the following useful lives:

 

Production equipment

3 to 13 years

Office furniture and equipment

3 to 10 years

Buildings

39 years

Building improvements

15 years

Automobiles

7 years

 

Long-lived assets

 

The Company assesses the recoverability of long-lived assets using an assessment of the estimated undiscounted future cash flows related to such assets.  In the event that assets are found to be carried at amounts which are in excess of estimated gross future cash flows, the assets will be adjusted for impairment to a level commensurate with fair value determined using a discounted cash flow analysis of the underlying assets.

 

The Company’s property, plant, and equipment primarily consist of buildings, land, assembly equipment for syringes, molding machines, molds, office equipment, furniture, and fixtures.

 

Intangible assets

 

Intangible assets are stated at cost and consist primarily of intellectual property which is amortized using the straight-line method over 17 years.

 

Financial instruments

 

The Company estimates the fair market value of financial instruments through the use of public market prices, quotes from financial institutions, and other available information.  Judgment is required in interpreting data to develop estimates of market value and, accordingly, amounts are not necessarily indicative of the amounts that could be realized in a current market exchange.  Short-term financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and other liabilities, consist primarily of instruments without extended maturities, the fair value of which, based on Management’s estimates, equals their recorded values.  The fair value of long-term liabilities, based on Management’s estimates, approximates their reported values.

 

5



Table of Contents

 

Concentration risks

 

The Company’s financial instruments exposed to concentrations of credit risk consist primarily of cash, cash equivalents, and accounts receivable.  Cash balances, some of which exceed federally insured limits, are maintained in financial institutions; however, Management believes the institutions are of high credit quality.  The majority of accounts receivable are due from companies which are well-established entities.  As a consequence, Management considers any exposure from concentrations of credit risks to be limited.

 

The following table reflects our significant customers for the first three and nine months of 2016 and 2015:

 

 

 

Three Months ended
September 30, 2016

 

Three Months ended
September 30, 2015

 

Nine Months ended
September 30, 2016

 

Nine Months ended
September 30, 2015

Number of significant customers

 

2

 

2

 

1

 

2

Aggregate dollar amount of net sales to significant customers

 

$3.5 million

 

$5.1 million

 

$7.1 million

 

$10.3 million

Percentage of net sales to significant customers

 

39.3%

 

53.5%

 

31.6%

 

46.0%

 

The Company manufactures syringes in Little Elm, Texas as well as utilizing manufacturers in China.  The Company purchases most of its product components from single suppliers, including needle adhesives and packaging materials.  There are multiple sources of these materials.  The Company obtained roughly 85.1% and 78.2% of its VanishPoint® syringes in the first nine months of 2016 and 2015, respectively, from its primary Chinese manufacturer.  Purchases from this Chinese manufacturer aggregated 92.7% and 82.4% of VanishPoint® syringes in the three month periods ended September 30, 2016 and 2015, respectively.  In the event that the Company becomes unable to purchase products from its primary Chinese manufacturer, the Company would need to find an alternate manufacturer for its 0.5mL insulin syringe, its 2mL, 5mL, and 10mL syringes and its autodisable syringe, and increase domestic production for 1mL and 3mL syringes.

 

Revenue recognition

 

Revenue is recognized for sales when title and risk of ownership passes to the customer, generally upon shipment.  Under certain contracts, revenue is recorded on the basis of sales price to distributors, less contractual pricing allowances.  Contractual pricing allowances consist of: (i) rebates granted to distributors who provide tracking reports which show, among other things, the facility that purchased the products, and (ii) a provision for estimated contractual pricing allowances for products for which the Company has not received tracking reports.  Rebates are recorded when issued and are applied against the customer’s receivable balance.  Distributors receive a rebate for the difference between the Wholesale Acquisition Cost and the appropriate contract price as reflected on a tracking report provided by the distributor to the Company. If product is sold by a distributor to an entity that has no contract, there is a standard rebate (lower than a contracted rebate) given to the distributor.  One of the purposes of the rebate is to encourage distributors to submit tracking reports to the Company. The provision for contractual pricing allowances is reviewed at the end of each quarter and adjusted for changes in levels of products for which there is no tracking report.  Additionally, if it becomes clear that tracking reports will not be provided by individual distributors, the provision is further adjusted.  The estimated contractual allowance is included in Accounts payable in the Balance Sheets and deducted from revenues in the Statements of Operations.  Accounts payable included estimated contractual allowances for $3,998,904 and $3,733,199 as of September 30, 2016 and December 31, 2015, respectively.  The terms and conditions of contractual pricing allowances are governed by contracts between the Company and its distributors.  Revenue for shipments directly to end-users is recognized when title and risk of ownership pass from the Company.  Any product shipped or distributed for evaluation purposes is expensed.

 

6



Table of Contents

 

Certain distributors have taken rebates to which they are not entitled, such as utilizing a rebate for products not purchased directly from the Company.  Major customers said they have ceased the practices resulting in claiming non-contractual rebates.  Rebates can only be claimed on purchases made directly from the Company. The Company has established a reserve for the collectability of these non-contractual rebate amounts.  The expense for the reserve is recorded in Operating expense, General and administrative.  The reserve for such non-contractual deductions is included in the allowance for doubtful accounts.  There has been no change to the reserve for contractual rebates in the periods currently presented.

 

The Company’s domestic return policy is set forth in its standard Distribution Agreement.  This policy provides that a customer may return incorrect shipments within 10 days following arrival at the distributor’s facility.  In all such cases the distributor must obtain an authorization code from the Company and affix the code to the returned product.  The Company will not accept returned goods without a returned goods authorization number.  The Company may refund the customer’s money or replace the product.

 

The Company’s domestic return policy also generally provides that a customer may return product that is overstocked.  Overstocking returns are limited to two times in each 12-month period up to 1% of distributor’s total purchase of products for the prior 12-month period.  All product overstocks and returns are subject to inspection and acceptance by the Company.

 

The Company’s international distribution agreements generally do not provide for any returns.

 

Income taxes

 

The Company evaluates tax positions taken or expected to be taken in a tax return for recognition in the financial statements based on whether it is “more-likely-than-not” that a tax position will be sustained based upon the technical merits of the position.  Measurement of the tax position is based upon the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement.

 

The Company provides for deferred income taxes through utilizing an asset and liability approach for financial accounting and reporting based on the tax effects of differences between the financial statement and tax bases of assets and liabilities, based on enacted rates expected to be in effect when such differences reverse in future periods.  Deferred tax assets are periodically reviewed for realizability.  The Company has established a valuation allowance for its net deferred tax asset as future taxable income cannot be reasonably assured.  Penalties and interest related to income tax are classified as General and administrative expense and Interest expense, respectively, in the Condensed Statements of Operations.

 

7



Table of Contents

 

Earnings per share

 

The Company computes basic earnings per share (“EPS”) by dividing net earnings for the period (adjusted for any cumulative dividends for the period) by the weighted average number of common shares outstanding during the period.  Diluted EPS includes the determinants of basic EPS and, in addition, reflects the dilutive effect, if any, of the common stock deliverable pursuant to stock options or common stock issuable upon the conversion of convertible preferred stock.  The calculation of diluted EPS excluded 670,338 and 674,042 shares of Common Stock underlying issued and outstanding stock options for the three months and nine months ended September 30, 2016, respectively, as their effect was antidilutive.  The potential dilution, if any, is shown on the following schedule:

 

 

 

Three Months Ended
September 30, 2016

 

 

Three Months Ended
September 30, 2015

 

 

Nine Months Ended
September 30, 2016

 

 

Nine Months Ended
September 30, 2015

 

Net income (loss)

$

(125,304

)

$

(254,826

)

$

(1,721,089

)

$

5,239,459

 

Preferred dividend requirements

 

(176,249

)

 

(227,499

)

 

(528,747

)

 

(682,802

)

Earnings (loss) applicable to common shareholders after assumed conversions

$

(301,553

)

$

(482,325

)

$

(2,249,836

)

$

4,556,657

 

Average common shares outstanding

 

29,649,874

 

 

27,873,447

 

 

29,252,652

 

 

27,759,333

 

Average common and common equivalent shares outstanding – assuming dilution

 

29,649,874

 

 

27,873,447

 

 

29,252,652

 

 

29,436,008

 

Basic earnings (loss) per share

$

(0.01

)

$

(0.02

)

$

(0.08

)

$

0.16

 

Diluted earnings (loss) per share

$

(0.01

)

$

(0.02

)

$

(0.08

)

$

0.15

 

 

Shipping and handling costs

 

The Company classifies shipping and handling costs as part of Cost of sales in the Condensed Statements of Operations.

 

Research and development costs

 

Research and development costs are expensed as incurred.

 

Share-based compensation

 

The Company’s share-based payments are accounted for using the fair value method.  The Company records share-based compensation expense on a straight-line basis over the requisite service period.

 

Recent Pronouncements

 

In March 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”.  This ASU addresses several aspects of the accounting for share-based compensation transactions including: (a) income tax consequences when awards vest or are settled, (b) classification of awards as either equity or liabilities, (c) a policy election to account for forfeitures as they occur rather than on an estimated basis and (d) classification of excess tax impacts on the statement of cash flows.  The updated guidance is effective for the Company’s quarter ending March 31, 2017, with early adoption permitted.  The Company is currently assessing the impact that adoption of this guidance will have on its financial statements and related disclosures.

 

In February 2016, the FASB issued ASU No. 2016-02, Leases (topic 842). Under the new ASU, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance lessor accounting is largely unchanged. The new lease guidance simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. This ASU is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of this standard.

 

8



Table of Contents

 

In July 2015, the FASB issued ASU No. 2015-11, “Inventory (Topic 330) Simplifying the Measurement of Inventory,” which is part of the FASB’s Simplification Initiative.  Inventory, including inventory measured at average cost, would be valued at the lower of cost or net realizable value.  Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.  ASU 2015-11 is effective for the Company’s annual periods and interim periods within those annual periods beginning January 1, 2017.  Amendments in this ASU should be applied prospectively with earlier application permitted at the beginning of an interim or annual reporting period.  The Company is currently assessing the potential impact of this ASU on its financial statements.

 

In May 2014, FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers”, which provides guidance for revenue recognition.  This ASU’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects consideration to which the company expects to be entitled in exchange for those goods or services.  This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract.  ASU No. 2014-09 allows for either full retrospective or modified retrospective adoption.  In July 2015, the FASB voted to delay the effective date of this ASU by one year.  The ASU will now be effective commencing with the Company’s quarter ending March 31, 2018.  Early adoption of this ASU is allowed no sooner than the original effective date.  The Company is currently assessing the potential impact of this ASU on its financial statements.

 

3.                    INVENTORIES

 

Inventories consist of the following:

 

 

 

September 30, 2016

 

 

December 31, 2015

 

Raw materials

$

1,614,476

 

$

1,664,241

 

Finished goods

 

6,448,066

 

 

5,313,778

 

 

 

8,062,542

 

 

6,978,019

 

Inventory reserve

 

(857,818

)

 

(681,394

)

 

$

7,204,724

 

$

6,296,625

 

 

4.                    INCOME TAXES

 

The Company’s effective tax rate on the net earnings (loss) before income taxes was (0.1)% and 0.1% for the nine months ended September 30, 2016 and September 30, 2015, respectively.  For the three months ended September 30, 2016 and September 30, 2015, the Company’s effective tax rate on the net earnings (loss) before income taxes was (0.4)% and (0.8)%, respectively.

 

5.                    OTHER ACCRUED LIABILITIES

 

Other accrued liabilities consist of the following:

 

 

 

September 30, 2016

 

 

December 31, 2015

 

Prepayments from customers

$

357,396

 

$

395,396

 

Accrued property taxes

 

327,602

 

 

 

Accrued professional fees

 

213,952

 

 

274,252

 

Other accrued expenses

 

27,093

 

 

20,887

 

 

$

926,043

 

$

690,535

 

 

9



Table of Contents

 

6.                COMMITMENTS AND CONTINGENCIES

 

In May 2010, the Company and an officer’s suit against Becton, Dickinson and Company (“BD”) in the U.S. District Court for the Eastern District of Texas, Marshall Division alleging violations of antitrust acts, false advertising, product disparagement, tortious interference, and unfair competition was reopened.  The trial commenced on September 9, 2013, in the U.S. District Court for the Eastern District of Texas, Tyler Division, and the jury found that BD illegally engaged in anticompetitive conduct with the intent to acquire or maintain monopoly power in the safety syringe market and engaged in false advertising under the Lanham Act.  The jury awarded the Company $113,508,014 in damages, which was trebled pursuant to statute.  The Court granted injunctive relief to take effect January 15, 2015.  In doing so, the Court found that BD’s business practices limited innovation, including false advertisements that suppressed sales of the VanishPoint®.  The specific injunctive relief includes: (1) enjoining BD’s use of “World’s Sharpest Needle” or any similar assertion of superior sharpness; (2) requiring notification to all customers who purchased BD syringe products from July 2, 2004 to date that BD wrongfully claimed that its syringe needles were sharper and that its statement that it had “data on file” was false and misleading; (3) requiring notification to employees, customers, distributors, GPOs, and government agencies that the deadspace of the VanishPoint® has been within ISO standards since 2004 and that BD overstated the deadspace of the VanishPoint® to represent that it was higher than some of BD’s syringes when it was actually less, and that BD’s statement that it had “data on file” was false and misleading, and, in addition, posting this notice on its website for a period of three years; (4) enjoining BD from advertising that its syringe products save medication as compared to VanishPoint® products for a period of three years; (5) requiring notification to all employees, customers, distributors, GPOs, and government agencies that BD’s website, cost calculator, printed materials, and oral representations alleging BD’s syringes save medication as compared to the VanishPoint® were based on false and inaccurate measurement of the VanishPoint®, and, in addition, posting this notice on its website for a period of three years; and (6) requiring the implementation of a comprehensive training program for BD employees and distributors that specifically instructs them not to use old marketing materials and not to make false representations regarding VanishPoint® syringes.  Final judgment was entered on January 15, 2015, awarding the Company $340,524,042 in damages and $11,722,823 in attorneys’ fees, as well as granting injunctive relief consistent with the orders as indicated above.  The parties stipulated that the amount of litigation costs recoverable by the Company is $295,000.  On January 14, 2015, the District Court stayed the portion of the injunctive relief that requires BD to notify end-user customers but also ordered BD to comply with internal correction activities as well as mandatory disclosures as set out above to its employees, customers, distributors and Group Purchasing Organizations.  BD filed an appeal of that ruling with the 5th Circuit Court of Appeals and that appeal was denied on February 3, 2015.  On February 12, 2015, BD filed a motion to amend the judgment directed most specifically to the issue of award of prejudgment interest.  On April 23, 2015, the Court entered an Amended Final Judgment that removed prejudgment interest but kept all other monetary and injunctive relief the same as was granted in the original Final Judgment.  BD filed its brief in the appeal on July 20, 2015.  The Company filed its responsive brief on September 18, 2015, and BD filed its brief in reply on October 19, 2015, to complete the briefing.  Oral argument occurred on Monday, February 29, 2016.  There is no set time limit for the 5th Circuit Court of Appeals to issue its decision.

 

In September 2007, BD and MDC Investment Holdings, Inc. (“MDC”) sued the Company in the United States District Court for the Eastern District of Texas, Texarkana Division, initially alleging that the Company is infringing two U.S. patents of MDC (6,179,812 and 7,090,656) that are licensed to BD.  BD and MDC seek injunctive relief and unspecified damages.  The Company counterclaimed for declarations of non-infringement, invalidity, and unenforceability of the asserted patents.  The plaintiffs subsequently dropped allegations with regard to patent no. 7,090,656 and the Company subsequently dropped its counterclaims for unenforceability of the asserted patents.  On June 30, 2015, the Court ordered that further proceedings in this matter be stayed and that this case remain administratively closed until resolution of all appeals in the case detailed in the first paragraph of this Note 6.

 

10



Table of Contents

 

7.                    BUSINESS SEGMENTS

 

 

 

Three Months Ended
September 30, 2016

 

Three Months Ended
September 30, 2015

 

Nine Months Ended
September 30, 2016

 

Nine Months Ended
September 30, 2015

 

U.S. sales

$

7,303,015

$

6,152,873

$

19,750,504

$

17,423,389

 

North and South America sales (excluding U.S.)

 

1,406,720

 

3,065,507

 

2,058,594

 

4,345,044

 

Other international sales

 

130,399

 

264,486

 

528,071

 

608,479

 

Total sales

$

8,840,134

$

9,482,866

$

22,337,169

$

22,376,912

 

 

 

 

September 30, 2016

 

December 31, 2015

 

 

 

 

 

 

 

Long-lived assets

 

 

 

 

 

U.S.

 

$

12,304,416

 

$

11,282,192

 

International

 

$

167,776

 

$

185,869

 

 

The Company does not operate in separate reportable segments.  The Company has minimal long-lived assets in foreign countries.  Shipments to international customers generally require a prepayment either by wire transfer or an irrevocable confirmed letter of credit.  The Company does extend credit to international customers on some occasions depending upon certain criteria, including, but not limited to, the credit worthiness of the customer, the stability of the country, banking restrictions, and the size of the order.  All transactions are in U.S. currency.

 

8.                    DIVIDENDS

 

The Company declared dividends in 2015 in the amounts of $12,313 and $43,101 paid to Series I Class B and Series II Class B Preferred Stockholders, respectively, on February 1, 2016.  The Company declared dividends in the first quarter of 2016 in the amounts of $12,313 and $42,800 paid to Series I Class B and Series II Class B Preferred Stockholders, respectively, on April 21, 2016.  The Company declared dividends in the second quarter of 2016 in the amounts of $12,313 and $42,800 paid to Series I Class B and Series II Class B Preferred Stockholders, respectively, on July 28, 2016.  The Company declared dividends in the third quarter of 2016 in the amounts of $12,313 and $42,800 paid to Series I Class B and Series II Class B Preferred Stockholders, respectively, on October 20, 2016.

 

9.                    STOCK OPTIONS

 

On September 9, 2016, the Compensation and Benefits Committee approved grants of incentive stock options to the Company’s employees under the First Amended 2008 Stock Option Plan with exercise prices at fair market value ($2.75 per share), a ten-year term, and one-year vesting period, except to the extent that such vesting period would violate the First Amended 2008 Stock Option Plan.  In total, once vested, the stock options will be exercisable into 500,400 shares of Common Stock.  The value of an option for the purchase of one underlying common share is valued at $2.03, using the Black Scholes Option Pricing Model using a risk-free rate of 1.61% and a volatility factor of 67.6%.

 

10.             SUBSEQUENT EVENTS

 

On November 1, 2016, the Compensation and Benefits Committee approved a grant of a stock option to the chief executive officer for the purchase of 3,000,000 shares of Common Stock, not pursuant to any existing stock option plan, which will require shareholder approval prior to effectiveness.  The total value of this option using the Black Scholes Option Pricing Model using a risk-free rate of 1.84% and a volatility factor of 66.9% is $5.9 million.

 

Item 2.                     Management’s Discussion and Analysis of Financial Condition and Results of Operations.

 

FORWARD-LOOKING STATEMENT WARNING

 

Certain statements included by reference in this filing containing the words “could,” “may,” “believes,” “anticipates,” “intends,” “expects,” and similar such words constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act.  Any forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements.  Such factors include, among others, our ability to maintain liquidity, our maintenance of patent protection, the impact of current and future Court decisions regarding current litigation, our ability to maintain favorable third party manufacturing and supplier arrangements and relationships, our ability to quickly increase capacity in response to an increase in demand, our ability to access the market, our ability to maintain or lower

 

11



Table of Contents

 

production costs, our ability to continue to finance research and development as well as operations and expansion of production, the continuing interest of larger market players, specifically Becton, Dickinson and Company (“BD”), in providing devices to the safety market, and other factors referenced in Item 1A. Risk Factors in Part II.  Given these uncertainties, undue reliance should not be placed on forward-looking statements.

 

MATERIAL CHANGES IN FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

Overview

 

We have been manufacturing and marketing our products since 1997.  Safety syringes comprised 93.4% of our sales in the first nine months of 2016.  We also manufacture and market the blood collection tube holder, IV safety catheter, and VanishPoint® Blood Collection Set.  We currently provide other safety medical products in addition to safety products utilizing retractable technology.  One such product is the Patient Safe® syringe, which is uniquely designed to reduce the risk of bloodstream infections resulting from catheter hub contamination.

 

In the second quarter of 2016, we began selling a new product, the EasyPoint® needle.  The EasyPoint®  is a retractable needle that can be used with Luer lock syringes, Luer slip syringes, and prefill syringes to give injections.  The EasyPoint®  needle can also be used to aspirate fluids and blood collection.  A March 2016 article published in Medical Design Technology details the benefits of the EasyPoint®  needle as well as the existing VanishPoint® syringe.  The article states that when the EasyPoint® needle becomes available, “for the first time, clinicians will be able to change needles and have the safety of automated needle retraction.”  The article is available on the Article Archives tab of our website at www.vanishpoint.com.

 

Historically, unit sales have increased in the latter part of the year due, in part, to the demand for syringes during the flu season.

 

Our products have been and continue to be distributed nationally and internationally through numerous distributors.  Although we have made limited progress in some areas, such as the alternate care market, our volumes are not as high as they should be given the nature and quality of our products and the federal and state legislation requiring the use of safe needle devices. The alternate care market is composed of alternate care facilities that provide long-term nursing and out-patient surgery, emergency care, physician services, health clinics, and retail pharmacies.

 

We continue to pursue various strategies to have better access to the hospital market, as well as other markets, including attempting to gain access to the market through our sales efforts, our innovative technology, introduction of new products, and, when necessary, litigation.

 

We have reported in the past that our progress is limited principally due to the marketing practices engaged in by BD, the dominant maker and seller of disposable syringes.  In our litigation against BD alleging anticompetitive conduct and false advertising, a final judgment for $352 million plus post-judgment interest and costs as well as some injunctive relief has been granted by the District Court.  We have not received any of the amounts indicated by the District Court in its final judgment.  BD is currently under court order to make certain disclosures regarding its exclusionary conduct to a specified class of distributors and customers.  BD has appealed to the United States Court of Appeals for the Fifth Circuit.  Oral argument was heard on February 29, 2016, and no order has been issued.

 

In 2014, the Company took steps to decrease non-litigation legal costs by approximately $1.1 million.  In 2014 and 2015, the Company reduced its workforce to cut costs.  In the future, if such cost cutting measures prove insufficient, we may reduce other operating expenses, further reduce the workforce, further reduce the salaries of officers as well as other employees, and/or defer royalty payments.

 

The Consolidated Appropriations Act, 2016 (Pub. L. 114-113), signed into law on December 18, 2015, includes a two year moratorium on the medical device excise tax imposed by Internal Revenue Code section 4191.  Thus, the medical device excise tax was suspended beginning on January 1, 2016 and ending on December 31, 2017.  The impact of this tax was $360,000 in 2015.

 

12



Table of Contents

 

We exchanged 728 thousand shares of our Common Stock for 200 thousand shares of our Series IV Class B Convertible Preferred Stock as of November 30, 2015 pursuant to an agreement with a shareholder.  Such shareholder agreed to waive all unpaid dividends in arrears associated with the tendered preferred stock, equaling $3.1 million.  Future dividend requirements of $200 thousand per year are avoided as a result of this transaction.

 

Product purchases from our primary Chinese manufacturer have enabled us to increase manufacturing capacity with little capital outlay and have provided a competitive manufacturing cost.  In the first nine months of 2016, our primary Chinese manufacturer produced approximately 85.1% of our VanishPoint® syringes.  In the event that we become unable to purchase products from our primary Chinese manufacturer, we would need to find an alternate manufacturer for the 0.5mL insulin syringe, the 0.5mL autodisable syringe, and the 2mL, 5mL, and 10mL syringes and we would increase domestic production for the 1mL and 3mL syringes.

 

In 1995, we entered into a license agreement with Thomas J. Shaw for the exclusive right to manufacture, market, and distribute products utilizing automated retraction technology.  This technology is the subject of various patents and patent applications owned by Mr. Shaw.  The license agreement generally provides for quarterly payments of a 5% royalty fee on gross sales.

 

On April 5, 2016, Thomas J. Shaw exercised the remaining portion the stock option granted to him in 2009.  The Company issued 1,000,000 shares of Common Stock to him at an exercise price of $0.81 per share (aggregate consideration of $810,000).  On November 1, 2016, Mr. Shaw was granted another stock option with a ten-year term, an exercise price of $2.66 per share, and exercisable upon shareholder approval for 3,000,000 shares of Common Stock.  The total value of this option using the Black Scholes Option Pricing Model using a risk-free rate of 1.84% and a volatility factor of 66.9% is $5.9 million.

 

With increased volumes of units manufactured, our manufacturing unit costs have generally tended to decline.  During this period of manufacturing, unit production decreased, resulting in a higher unit cost due to fixed costs spread over fewer units.  Factors that could affect our unit costs include increases in costs by third party manufacturers, changing production volumes, costs of petroleum products, and transportation costs.  Increases in such costs may not be recoverable through price increases of our products.

 

The following discussion may contain trend information and other forward-looking statements that involve a number of risks and uncertainties.  Our actual future results could differ materially from our historical results of operations and those discussed in any forward-looking statements.  Dollar amounts have been rounded for ease of reading.  All period references are to the periods ended September 30, 2016 or 2015.

 

RESULTS OF OPERATIONS

 

Comparison of Three Months Ended September 30, 2016 and September 30, 2015

 

Sales

 

Domestic sales accounted for 82.6% and 64.9% of the revenues for the three months ended September 30, 2016 and 2015, respectively.  Domestic revenues increased 18.7% principally due to higher average prices and higher volumes.  Domestic unit sales increased 9.3%.  Domestic unit sales were 72.8% of total unit sales for the three months ended September 30, 2016.  International revenue and unit sales decreased 55.4% and 53.8%, respectively, due to lower volumes.  Our international orders may be subject to significant fluctuation over time.  Overall unit sales decreased 21.6%.

 

Gross Profit and Cost of Sales

 

The Cost of manufactured product decreased by 10.7% due to lower volumes mitigated by higher unit cost.  Royalty expense decreased 11.7% due to lower gross revenues.

 

Gross profit increased 1.1% primarily due to higher average prices.

 

13



Table of Contents

 

Operating Expenses

 

Operating expenses decreased $82 thousand.  The decrease was primarily due to the suspension of the medical device excise tax and lower professional fees, mitigated by higher compensation and travel costs.

 

Loss from Operations

 

Our operating loss was $81 thousand compared to a loss from operations of $199 thousand for the same period last year due primarily to slightly higher gross profit and reduced operating expenses.

 

Income Taxes

 

Our effective tax rate on the net earnings (loss) before income taxes was (0.4)% and (0.8)% for the three months ended September 30, 2016 and September 30, 2015, respectively.

 

Comparison of Nine Months Ended September 30, 2016 and September 30, 2015

 

Sales

 

Domestic sales accounted for 88.4% and 77.9% of the revenues for the nine months ended September 30, 2016 and 2015, respectively.  Domestic revenues increased 13.4% principally due to higher sales volume and somewhat lower average prices.  Domestic unit sales increased 15.6%.  Domestic unit sales were 83.0% of total unit sales for the nine months ended September 30, 2016.  International revenue and unit sales decreased 47.8% and 53.3%, respectively, due to lower sales volumes and was somewhat offset by higher average sales prices.  Our international orders may be subject to significant fluctuation over time.  Overall unit sales decreased 7.5%.

 

Gross Profit and Cost of Sales

 

The Cost of manufactured product increased by 0.8% principally due to higher unit costs offset by lower volumes.  Profit margins can fluctuate depending upon, among other things, the cost of manufactured product and the capitalized cost of product recorded in inventory, as well as product sales mix.  Royalty expense increased 1.2% due to higher gross revenues.  Rebates have a significant impact on the ratio of gross sales to net sales.

 

Gross profit decreased 1.9% primarily due to higher cost of manufacturing and slightly lower revenues.

 

Operating Expenses

 

Operating expenses decreased 8.6%.  The decrease was due to suspension of the medical device excise tax, reduced donations of product, severance benefits not incurred in 2016, and lower bad debt accruals.

 

Litigation Proceeds

 

A non-recurring recognition of $7,724,826 received from BD in the second quarter of 2015 pursuant to a patent infringement case had a significant impact on income for the nine months ended September 30, 2015.

 

Loss from Operations

 

Our operating loss was $1.6 million compared to an operating loss for the same period last year of $2.3 million due primarily to lower operating expenses.

 

Income Taxes

 

Our effective tax rate on the net earnings (loss) before income taxes was (0.1)% and 0.1% for the nine months ended September 30, 2016 and September 30, 2015, respectively.

 

14



Table of Contents

 

Discussion of Balance Sheet and Statement of Cash Flow Items

 

Cash makes up 37.5% of total assets.  Working capital was $20.6 million at September 30, 2016, a decrease of $2.2 million from December 31, 2015.

 

Approximately $1.6 million in cash flow in the nine months ended September 30, 2016 was used by operating activities.

 

LIQUIDITY

 

At the present time, Management does not intend to raise equity capital.  Due to the funds received from prior litigation, we have sufficient cash reserves and intend to rely on operations, cash reserves, and debt financing, when available, as the primary ongoing sources of cash.  Our ability to obtain additional funds through loans is uncertain.  Our financial statements do not reflect a 2015 judgment in our favor for $352 million plus post-judgment interest.

 

Historical Sources of Liquidity

 

We have historically funded operations primarily from the proceeds from revenues, private placements, litigation settlements, and loans.

 

Internal Sources of Liquidity

 

Margins and Market Access

 

To routinely achieve positive or break even quarters, we need increased access to hospital markets which has been difficult to obtain.  We will continue to attempt to gain access to the market through our sales efforts, innovative technology, the introduction of new products, and, when necessary, litigation.

 

We continue to focus on methods of upgrading our manufacturing capability and efficiency in order to reduce costs.

 

Fluctuations in the cost and availability of raw materials and inventory and our ability to maintain favorable manufacturing arrangements and relationships could result in the need to manufacture all (as opposed to 22.2%) of our products in the U.S.  This could temporarily increase unit costs as we ramp up domestic production.

 

The mix of domestic and international sales affects the average sales price of our products.  Generally, the higher the ratio of domestic sales to international sales, the higher the average sales price will be.  Typically, large international sales of VanishPoint® syringes are shipped directly from China to the customer.  Purchases of product manufactured in China usually decrease the average cost of manufacture for all units.  The number of units produced by us versus manufactured in China can have a significant effect on the carrying costs of inventory as well as Cost of sales.  We will continue to evaluate the appropriate mix of products manufactured domestically and those manufactured in China to achieve economic benefits as well as to maintain our domestic manufacturing capability.

 

Fluctuations in the cost of oil (since our products are petroleum based) and transportation and the volume of units purchased from our Chinese manufacturers may have an impact on the unit costs of our product.  Increases in such costs may not be recoverable through price increases of our products.  Reductions in oil prices may not quickly affect petroleum product prices.

 

Seasonality

 

Historically, unit sales have increased during the flu season.

 

15



Table of Contents

 

Cash Requirements

 

Due to funds received from prior litigation, we have sufficient cash reserves and intend to rely on operations, cash reserves, and debt financing, when available, as the primary ongoing sources of cash.  We have taken steps to decrease our non-litigation legal costs and we continue to evaluate these costs.  Additionally, since the beginning of 2014, we have reduced our workforce.  In the future, if such cost cutting measures prove insufficient, we may reduce the number of units being produced, further reduce the workforce, further reduce the salaries of officers and other employees, and/or defer royalty payments.

 

External Sources of Liquidity

 

We have obtained several loans from our inception, which have, together with the proceeds from the sales of equities and litigation efforts, enabled us to pursue development and production of our products.  Our ability to obtain additional funds through loans is uncertain.  Due to the current market price of our Common Stock, it is unlikely we would choose to raise funds by the sale of equity.

 

In our litigation against BD alleging anticompetitive conduct and false advertising, a final judgment for $352 million plus post-judgment interest and costs as well as some injunctive relief has been granted by the District Court.  We have not received any of the amounts indicated by the District Court in its final judgment.  BD is currently under court order to make certain disclosures regarding its exclusionary conduct to a specified class of distributors and customers.  BD has appealed to the United States Court of Appeals for the Fifth Circuit.  Oral argument was heard on February 29, 2016, and no order has been issued.

 

CAPITAL RESOURCES

 

In the second quarter of 2016, we placed orders for additional injection molding machines and additional molds for use in the manufacture of the EasyPoint needle.  The expenditure for this equipment was approximately $1.4 million.

 

CONTRACTUAL OBLIGATIONS

 

We have purchased manufacturing equipment and molds in the amount of $1.4 million.  We have obtained a lease from Deutsche Leasing USA, Inc. for the financing of certain molding machines in the amount of approximately $530 thousand.

 

Item 3.         Quantitative and Qualitative Disclosures About Market Risk.

 

No update.

 

Item 4.         Controls and Procedures.

 

Disclosure Controls and Procedures

 

Pursuant to Rule 13a-15(b) of the Securities Exchange Act of 1934, Management, with the participation of our President, Chairman, and Chief Executive Officer, Thomas J. Shaw (the “CEO”), and our Vice President and Chief Financial Officer, Douglas W. Cowan (the “CFO”), acting in their capacities as our principal executive and principal financial officers, evaluated the effectiveness of our disclosure controls and procedures, as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934.  The term disclosure controls and procedures means controls and other procedures that are designed to ensure that information required to be disclosed by us in our periodic reports is: i) recorded, processed, summarized, and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms; and ii) accumulated and communicated to our Management, including our principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure. Based upon this evaluation, the CEO and CFO concluded that, as of September 30, 2016, our disclosure controls and procedures were not effective, as discussed below.

 

16



Table of Contents

 

We reported a material weakness in our Annual Report on Form 10-K for the year ended December 31, 2015, filed on March 30, 2016, in connection with the accounting for raw materials.  As disclosed in the Annual Report and previous Quarterly Reports, we plan to remedy this weakness by transitioning to an improved Oracle inventory accounting process.  As we are currently implementing this improvement, we cannot yet state that our disclosure controls and procedures are effective.  During the third quarter of 2016, we began running our improved Oracle process in tandem with the process currently in use and the testing produced favorable results.  We will continue testing and plan on implementation in the first half of 2017.

 

Changes in Internal Control Over Financial Reporting

 

There have been no changes during the third quarter of 2016 or subsequent to September 30, 2016 in our internal control over financial reporting that has materially affected or is reasonably likely to materially affect our internal control over financial reporting.

 

PART II—OTHER INFORMATION

 

Item 1.                     Legal Proceedings.

 

Please refer to Note 6 to the financial statements for a complete description of all legal proceedings.

 

Item 1A.            Risk Factors.

 

There were no material changes in the Risk Factors applicable to the Company as set forth in our Form 10-K annual report for 2015 which was filed on March 30, 2016, and which is available on EDGAR.

 

Item 2.         Unregistered Sales of Equity Securities and Use of Proceeds.

 

Working Capital Restrictions and Limitations on the Payment of Dividends

 

The Company declared a dividend to the Series I Class B and Series II Class B Convertible Preferred Shareholders in the aggregate amount of $55,113.  This dividend was paid on October 20, 2016.

 

The certificates of designation for each of the outstanding series of Class B Convertible Preferred Stock each currently provide that, if a dividend upon any shares of Preferred Stock is in arrears, no dividends may be paid or declared upon any stock ranking junior to such stock and generally no junior preferred stock may be redeemed.  However, under certain conditions, and for certain Series of Class B Convertible Preferred Stock, we may purchase junior stock when dividends are in arrears.

 

Item 3.                     Defaults Upon Senior Securities.

 

Series I Class B Convertible Preferred Stock

 

For the nine months ended September 30, 2016, no dividends were in arrears.

 

Series II Class B Convertible Preferred Stock

 

For the nine months ended September 30, 2016, no dividends were in arrears.

 

Series III Class B Convertible Preferred Stock

 

For the nine months ended September 30, 2016, the amount of dividends in arrears was $96,934 and the total arrearage was $3,984,000 as of September 30, 2016.

 

17



Table of Contents

 

Series IV Class B Convertible Preferred Stock

 

For the nine months ended September 30, 2016, the amount of dividends in arrears was $256,875 and the total arrearage was $5,713,000 as of September 30, 2016.

 

Series V Class B Convertible Preferred Stock

 

For the nine months ended September 30, 2016, the amount of dividends in arrears was $9,600 and the total arrearage was $980,000 as of September 30, 2016.

 

Item 6.                     Exhibits.

 

Exhibit No.

 

Description of Document

 

 

 

31.1

 

Certification of Principal Executive Officer

 

 

 

31.2

 

Certification of Principal Financial Officer

 

 

 

32

 

Certification Pursuant to 18 U.S.C. Section 1350

 

 

 

101

 

The following materials from Retractable Technologies, Inc.’s Form 10-Q for the quarter ended September 30, 2016, formatted in XBRL (eXtensible Business Reporting Language): (i) Condensed Balance Sheets as of September 30, 2016 and December 31, 2015, (ii) Condensed Statements of Operations for the nine months and three months ended September 30, 2016 and 2015, (iii) Condensed Statements of Cash Flows for the nine months ended September 30, 2016 and 2015 and (iv) Notes to Condensed Financial Statements

 

18



Table of Contents

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

DATE:    November 14, 2016

RETRACTABLE TECHNOLOGIES, INC.

 

 

(Registrant)

 

 

 

 

 

 

 

 

 

 

 

 

BY:

/s/ DOUGLAS W. COWAN                      

 

 

 

DOUGLAS W. COWAN

VICE PRESIDENT, CHIEF FINANCIAL OFFICER, AND CHIEF ACCOUNTING OFFICER

 

19


EX-31.1 2 a16-17129_1ex31d1.htm EX-31.1

 

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

Exhibit 31.1

 

I, Thomas J. Shaw, certify that:

 

1.    I have reviewed this quarterly report on Form 10-Q of Retractable Technologies, Inc.;

 

2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

(a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d)   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

(a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

 

(b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date:                  November 14, 2016

 

/s/ THOMAS J. SHAW                    

 

THOMAS J. SHAW

 

PRESIDENT, CHAIRMAN, AND

 

CHIEF EXECUTIVE OFFICER

 

 


EX-31.2 3 a16-17129_1ex31d2.htm EX-31.2

 

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

Exhibit 31.2

 

I, Douglas W. Cowan, certify that:

 

1.    I have reviewed this quarterly report on Form 10-Q of Retractable Technologies, Inc.;

 

2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

(a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d)   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

(a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

 

(b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date:      November 14, 2016

 

/s/ DOUGLAS W. COWAN                      

 

DOUGLAS W. COWAN

 

VICE PRESIDENT,

 

CHIEF FINANCIAL OFFICER,

 

AND CHIEF ACCOUNTING OFFICER

 

 


EX-32 4 a16-17129_1ex32.htm EX-32

Exhibit 32

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

 

Solely in connection with the filing of the Quarterly Report of Retractable Technologies, Inc. (the “Company”) on Form 10-Q for the period ended September 30, 2016, as filed with the United States Securities and Exchange Commission on the date hereof (the “Report”), the undersigned Thomas J. Shaw, Chief Executive Officer, and Douglas W. Cowan, Chief Financial Officer, do hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1)                                 The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

(2)                                 The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the issuer.

 

Date:                  November 14, 2016

 

 

/s/ THOMAS J. SHAW                                                  

 

THOMAS J. SHAW

 

PRESIDENT, CHAIRMAN, AND

 

CHIEF EXECUTIVE OFFICER

 

 

 

 

 

/s/ DOUGLAS W. COWAN                                          

 

DOUGLAS W. COWAN

 

VICE PRESIDENT, CHIEF FINANCIAL OFFICER,

 

AND CHIEF ACCOUNTING OFFICER

 


EX-101.INS 5 rvp-20160930.xml XBRL INSTANCE DOCUMENT 0000946563 us-gaap:EmployeeStockOptionMember 2016-09-09 0000946563 us-gaap:EmployeeStockOptionMember us-gaap:SubsequentEventMember us-gaap:ChiefExecutiveOfficerMember 2016-11-01 2016-11-01 0000946563 us-gaap:EmployeeStockOptionMember 2016-09-09 2016-09-09 0000946563 rvp:OtherInternationalMember 2016-07-01 2016-09-30 0000946563 rvp:NorthAndSouthAmericaExcludingUnitedStatesMember 2016-07-01 2016-09-30 0000946563 country:US 2016-07-01 2016-09-30 0000946563 rvp:OtherInternationalMember 2016-01-01 2016-09-30 0000946563 rvp:NorthAndSouthAmericaExcludingUnitedStatesMember 2016-01-01 2016-09-30 0000946563 country:US 2016-01-01 2016-09-30 0000946563 rvp:OtherInternationalMember 2015-07-01 2015-09-30 0000946563 rvp:NorthAndSouthAmericaExcludingUnitedStatesMember 2015-07-01 2015-09-30 0000946563 country:US 2015-07-01 2015-09-30 0000946563 rvp:OtherInternationalMember 2015-01-01 2015-09-30 0000946563 rvp:NorthAndSouthAmericaExcludingUnitedStatesMember 2015-01-01 2015-09-30 0000946563 country:US 2015-01-01 2015-09-30 0000946563 us-gaap:FurnitureAndFixturesMember us-gaap:MinimumMember 2016-01-01 2016-09-30 0000946563 us-gaap:FurnitureAndFixturesMember us-gaap:MaximumMember 2016-01-01 2016-09-30 0000946563 us-gaap:EquipmentMember us-gaap:MinimumMember 2016-01-01 2016-09-30 0000946563 us-gaap:EquipmentMember us-gaap:MaximumMember 2016-01-01 2016-09-30 0000946563 us-gaap:BuildingMember 2016-01-01 2016-09-30 0000946563 us-gaap:BuildingImprovementsMember 2016-01-01 2016-09-30 0000946563 us-gaap:AutomobilesMember 2016-01-01 2016-09-30 0000946563 rvp:SeriesTwoConvertibleClassBPreferredStockMember 2016-09-30 0000946563 rvp:SeriesThreeConvertibleClassBPreferredStockMember 2016-09-30 0000946563 rvp:SeriesOneConvertibleClassBPreferredStockMember 2016-09-30 0000946563 rvp:SeriesFourConvertibleClassBPreferredStockMember 2016-09-30 0000946563 rvp:SeriesFiveConvertibleClassBPreferredStockMember 2016-09-30 0000946563 rvp:SeriesTwoConvertibleClassBPreferredStockMember 2015-12-31 0000946563 rvp:SeriesThreeConvertibleClassBPreferredStockMember 2015-12-31 0000946563 rvp:SeriesOneConvertibleClassBPreferredStockMember 2015-12-31 0000946563 rvp:SeriesFourConvertibleClassBPreferredStockMember 2015-12-31 0000946563 rvp:SeriesFiveConvertibleClassBPreferredStockMember 2015-12-31 0000946563 rvp:InternationalMember 2016-09-30 0000946563 country:US 2016-09-30 0000946563 rvp:InternationalMember 2015-12-31 0000946563 country:US 2015-12-31 0000946563 rvp:BectonDickinsonAndCompanyCaseMember 2013-09-09 2013-09-09 0000946563 us-gaap:MaximumMember 2016-01-01 2016-09-30 0000946563 rvp:SeriesTwoConvertibleClassBPreferredStockMember 2016-10-20 2016-10-20 0000946563 rvp:SeriesOneConvertibleClassBPreferredStockMember 2016-10-20 2016-10-20 0000946563 rvp:SeriesTwoConvertibleClassBPreferredStockMember 2016-07-28 2016-07-28 0000946563 rvp:SeriesOneConvertibleClassBPreferredStockMember 2016-07-28 2016-07-28 0000946563 rvp:SeriesTwoConvertibleClassBPreferredStockMember 2016-04-21 2016-04-21 0000946563 rvp:SeriesOneConvertibleClassBPreferredStockMember 2016-04-21 2016-04-21 0000946563 rvp:SeriesTwoConvertibleClassBPreferredStockMember 2016-02-01 2016-02-01 0000946563 rvp:SeriesOneConvertibleClassBPreferredStockMember 2016-02-01 2016-02-01 0000946563 us-gaap:SalesMember us-gaap:CustomerConcentrationRiskMember 2016-07-01 2016-09-30 0000946563 us-gaap:CostOfGoodsProductLineMember us-gaap:SupplierConcentrationRiskMember 2016-07-01 2016-09-30 0000946563 us-gaap:SalesMember us-gaap:CustomerConcentrationRiskMember 2016-01-01 2016-09-30 0000946563 us-gaap:CostOfGoodsProductLineMember us-gaap:SupplierConcentrationRiskMember 2016-01-01 2016-09-30 0000946563 us-gaap:SalesMember us-gaap:CustomerConcentrationRiskMember 2015-07-01 2015-09-30 0000946563 us-gaap:CostOfGoodsProductLineMember us-gaap:SupplierConcentrationRiskMember 2015-07-01 2015-09-30 0000946563 us-gaap:SalesMember us-gaap:CustomerConcentrationRiskMember 2015-01-01 2015-09-30 0000946563 us-gaap:CostOfGoodsProductLineMember us-gaap:SupplierConcentrationRiskMember 2015-01-01 2015-09-30 0000946563 2015-09-30 0000946563 2014-12-31 0000946563 2016-07-01 2016-09-30 0000946563 2015-07-01 2015-09-30 0000946563 rvp:BDAndMDCInvestmentHoldingsIncCaseMember 2007-09-30 0000946563 rvp:BectonDickinsonAndCompanyCaseMember 2015-01-15 2015-01-15 0000946563 rvp:BectonDickinsonAndCompanyCaseMember 2016-01-01 2016-09-30 0000946563 2015-01-01 2015-09-30 0000946563 2016-09-30 0000946563 2015-12-31 0000946563 2016-11-01 0000946563 2016-01-01 2016-09-30 iso4217:USD xbrli:shares xbrli:pure rvp:customer rvp:item iso4217:USD xbrli:shares false --12-31 Q3 2016 2016-09-30 10-Q 0000946563 29654754 Yes Smaller Reporting Company RETRACTABLE TECHNOLOGIES INC 3733199 3998904 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DIVIDENDS</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company declared dividends in 2015 in the amounts of $12,313 and $43,101 paid to Series&nbsp;I Class&nbsp;B and Series&nbsp;II Class&nbsp;B Preferred Stockholders, respectively, on February&nbsp;1, 2016.&nbsp;&nbsp;The Company declared dividends in the first quarter of 2016 in the amounts of $12,313 and $42,800 paid to Series&nbsp;I Class&nbsp;B and Series&nbsp;II Class&nbsp;B Preferred Stockholders, respectively, on April&nbsp;21, 2016.&nbsp;&nbsp;The Company declared dividends in the second quarter of 2016 in the amounts of $12,313 and $42,800 paid to Series&nbsp;I Class&nbsp;B and Series&nbsp;II Class&nbsp;B Preferred Stockholders, respectively, on July&nbsp;28, 2016.&nbsp;&nbsp;The Company declared dividends in the third quarter of 2016 in the amounts of $12,313 and $42,800 paid to Series&nbsp;I Class&nbsp;B and Series&nbsp;II Class&nbsp;B Preferred Stockholders, respectively, on October&nbsp;20, 2016.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> -7724826 0 262105 258375 P3Y P3Y 295000 2 0 2 2 1 2 0.01 2 P12M P10D <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font></font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:72pt;"> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Production equipment</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">3 to 13 years</font></p> </td> </tr> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Office furniture and equipment</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">3 to 10 years</font></p> </td> </tr> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Buildings</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">39 years</font></p> </td> </tr> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Building improvements</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">15 years</font></p> </td> </tr> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Automobiles</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">7 years</font></p> </td> </tr> </table></div> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OTHER ACCRUED LIABILITIES</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Other accrued liabilities consist of the following:</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font></font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 94.00%;margin-left:24.5pt;"> <tr> <td valign="bottom" style="width:50.90%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">December&nbsp;31,&nbsp;2015</font></p> </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.90%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Prepayments from customers</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.34%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>357,396&nbsp; </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.26%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>395,396&nbsp; </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.90%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Accrued property taxes</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.34%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>327,602&nbsp; </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.26%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&#x2014;</font></p> </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.90%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Accrued professional fees</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.34%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>213,952&nbsp; </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.26%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>274,252&nbsp; </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.90%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Other accrued expenses</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.34%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,093&nbsp; </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.26%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>20,887&nbsp; </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.90%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:50.90%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.34%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>926,043&nbsp; </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.26%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>690,535&nbsp; </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.90%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 5697518 4709270 4900997 5161441 327602 8176 10893 274252 213952 631145 680287 58268036 59026550 674042 670338 42540864 40544856 30810698 27814289 22128977 19703945 18045044 15218714 -2425032 -2826330 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Cash and cash equivalents</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">For purposes of reporting cash flows, cash and cash equivalents include unrestricted cash, money market accounts, and investments with original maturities of three months or less.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 19.45pt;text-indent: -19.45pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COMMITMENTS AND CONTINGENCIES</font> </p> <p style="margin:0pt 0pt 0pt 24.45pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">In May&nbsp;2010, the Company and an officer&#x2019;s suit against Becton, Dickinson and Company (&#x201C;BD&#x201D;) in the U.S. District Court for the Eastern District of Texas, Marshall Division alleging violations of antitrust acts, false advertising, product disparagement, tortious interference, and unfair competition was reopened.&nbsp;&nbsp;The trial commenced on September&nbsp;9, 2013, in the U.S. District Court for the Eastern District of Texas, Tyler Division, and the jury found that BD illegally engaged in anticompetitive conduct with the intent to acquire or maintain monopoly power in the safety syringe market and engaged in false advertising under the Lanham Act.&nbsp;&nbsp;The jury awarded the Company $113,508,014 in damages, which was trebled pursuant to statute.&nbsp;&nbsp;The Court granted injunctive relief to take effect January&nbsp;15, 2015.&nbsp;&nbsp;In doing so, the Court found that BD&#x2019;s business practices limited innovation, including false advertisements that suppressed sales of the VanishPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE;</font><font style="display:inline;">.&nbsp;&nbsp;The specific injunctive relief includes: (1)&nbsp;enjoining BD&#x2019;s use of &#x201C;World&#x2019;s Sharpest Needle&#x201D; or any similar assertion of superior sharpness; (2)&nbsp;requiring notification to all customers who purchased BD syringe products from July&nbsp;2, 2004 to date that BD wrongfully claimed that its syringe needles were sharper and that its statement that it had &#x201C;data on file&#x201D; was false and misleading; (3)&nbsp;requiring notification to employees, customers, distributors, GPOs, and government agencies that the deadspace of the VanishPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE;</font><font style="display:inline;"> has been within ISO standards since 2004 and that BD overstated the deadspace of the VanishPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE;</font><font style="display:inline;"> to represent that it was higher than some of BD&#x2019;s syringes when it was actually less, and that BD&#x2019;s statement that it had &#x201C;data on file&#x201D; was false and misleading, and, in addition, posting this notice on its website for a period of three years; (4)&nbsp;enjoining BD from advertising that its syringe products save medication as compared to VanishPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE;</font><font style="display:inline;"> products for a period of three years; (5)&nbsp;requiring notification to all employees, customers, distributors, GPOs, and government agencies that BD&#x2019;s website, cost calculator, printed materials, and oral representations alleging BD&#x2019;s syringes save medication as compared to the VanishPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE;</font><font style="display:inline;"> were based on false and inaccurate measurement of the VanishPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE;</font><font style="display:inline;">, and, in addition, posting this notice on its website for a period of three years; and (6)&nbsp;requiring the implementation of a comprehensive training program for BD employees and distributors that specifically instructs them not to use old marketing materials and not to make false representations regarding VanishPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE;</font><font style="display:inline;"> syringes.&nbsp;&nbsp;Final judgment was entered on January&nbsp;15, 2015, awarding the Company $340,524,042 in damages and $11,722,823 in attorneys&#x2019; fees, as well as granting injunctive relief consistent with the orders as indicated above.&nbsp;&nbsp;The parties stipulated that the amount of litigation costs recoverable by the Company is $295,000.&nbsp;&nbsp;On January&nbsp;14, 2015, the District Court stayed the portion of the injunctive relief that requires BD to notify end-user customers but also ordered BD to comply with internal correction activities as well as mandatory disclosures as set out above to its employees, customers, distributors and Group Purchasing Organizations.&nbsp;&nbsp;BD filed an appeal of that ruling with the 5</font><font style="display:inline;font-size:6.5pt;">th</font><font style="display:inline;"> Circuit Court of Appeals and that appeal was denied on February&nbsp;3, 2015.&nbsp;&nbsp;On February&nbsp;12, 2015, BD filed a motion to amend the judgment directed most specifically to the issue of award of prejudgment interest.&nbsp;&nbsp;On April&nbsp;23, 2015, the Court entered an Amended Final Judgment that removed prejudgment interest but kept all other monetary and injunctive relief the same as was granted in the original Final Judgment.&nbsp;&nbsp;BD filed its brief in the appeal on July&nbsp;20, 2015.&nbsp;&nbsp;The Company filed its responsive brief on September&nbsp;18, 2015, and BD filed its brief in reply on October&nbsp;19, 2015, to complete the briefing.&nbsp;&nbsp;Oral argument occurred on Monday, February&nbsp;29, 2016.&nbsp;&nbsp;There is no set time limit for the 5th Circuit Court of Appeals to issue its decision.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">In September&nbsp;2007, BD and MDC Investment Holdings,&nbsp;Inc. (&#x201C;MDC&#x201D;) sued the Company in the United States District Court for the Eastern District of Texas, Texarkana Division, initially alleging that the Company is infringing two U.S. patents of MDC (6,179,812 and 7,090,656) that are licensed to BD.&nbsp;&nbsp;BD and MDC seek injunctive relief and unspecified damages.&nbsp;&nbsp;The Company counterclaimed for declarations of non-infringement, invalidity, and unenforceability of the asserted patents.&nbsp;&nbsp;The plaintiffs subsequently dropped allegations with regard to patent no. 7,090,656 and the Company subsequently dropped its counterclaims for unenforceability of the asserted patents.&nbsp;&nbsp;On June&nbsp;30, 2015, the Court ordered that further proceedings in this matter be stayed and that this case remain administratively closed until resolution of all appeals in the case detailed in the first paragraph of this Note 6.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 0 0 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Concentration risks</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company&#x2019;s financial instruments exposed to concentrations of credit risk consist primarily of cash, cash equivalents, and accounts receivable.&nbsp;&nbsp;Cash balances, some of which exceed federally insured limits, are maintained in financial institutions; however, Management believes the institutions are of high credit quality.&nbsp;&nbsp;The majority of accounts receivable are due from companies which are well-established entities.&nbsp;&nbsp;As a consequence, Management considers any exposure from concentrations of credit risks to be limited.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The following table reflects our significant customers for the first three and nine months of 2016 and 2015:</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 94.00%;margin-left:27.35pt;"> <tr> <td valign="bottom" style="width:26.26%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three&nbsp;Months&nbsp;ended<br />September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three&nbsp;Months&nbsp;ended<br />September&nbsp;30,&nbsp;2015</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine&nbsp;Months&nbsp;ended<br />September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine&nbsp;Months&nbsp;ended<br />September&nbsp;30,&nbsp;2015</font></p> </td> </tr> <tr> <td valign="top" style="width:26.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Number of significant customers</font></p> </td> <td valign="top" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2&nbsp; </td> </tr> <tr> <td valign="top" style="width:26.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Aggregate dollar amount of net sales to significant customers</font></p> </td> <td valign="top" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$3.5 million</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$5.1 million</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$7.1 million</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$10.3 million</font></p> </td> </tr> <tr> <td valign="top" style="width:26.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Percentage of net sales to significant customers</font></p> </td> <td valign="top" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>39.3%&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>53.5%&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31.6%&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46.0%&nbsp; </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company manufactures syringes in Little Elm, Texas as well as utilizing manufacturers in China.&nbsp;&nbsp;The Company purchases most of its product components from single suppliers, including needle adhesives and packaging materials.&nbsp;&nbsp;There are multiple sources of these materials.&nbsp;&nbsp;The Company obtained roughly 85.1% and 78.2% of its VanishPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE; &nbsp;</font><font style="display:inline;">syringes in the first nine months of 2016 and 2015, respectively, from its primary Chinese manufacturer.&nbsp;&nbsp;Purchases from this Chinese manufacturer aggregated 92.7% and 82.4% of VanishPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE; &nbsp;</font><font style="display:inline;">syringes in the three month periods ended September&nbsp;30, 2016 and 2015, respectively.&nbsp;&nbsp;In the event that the Company becomes unable to purchase products from its primary Chinese manufacturer, the Company would need to find an alternate manufacturer for its 0.5mL insulin syringe, its 2mL, 5mL, and 10mL syringes and its autodisable syringe, and increase domestic production for 1mL and 3mL syringes.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 0.782 0.460 0.824 0.535 0.851 0.316 0.927 0.393 14153878 6259348 14268743 5580359 12307440 5489151 12400679 4900072 395396 357396 645038 672000 1846438 770197 1868064 680287 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;STOCK OPTIONS</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;color:#000000;">On September&nbsp;9, 2016, the Compensation and Benefits Committee approved grants of incentive stock options to the Company&#x2019;s employees under the First Amended 2008 Stock Option Plan with exercise prices at fair market value ($2.75 per share), a ten-year term, and one-year vesting period, except to the extent that such vesting period would violate the First Amended 2008 Stock Option Plan.&nbsp;&nbsp;In total, once vested, the stock options will be exercisable into 500,400 shares of Common Stock.&nbsp;&nbsp;The value of an option for the purchase of one underlying common share is valued at $2.03, using the Black Scholes Option Pricing Model using a risk-free rate of 1.61% and a volatility factor of 67.6%.</font> </p><div /></div> </div> 55414 55113 56363 55113 12313 43101 12313 42800 12313 42800 12313 42800 0.16 -0.02 -0.08 -0.01 0.15 -0.02 -0.08 -0.01 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Earnings per share</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company computes basic earnings per share (&#x201C;EPS&#x201D;) by dividing net earnings for the period (adjusted for any cumulative dividends for the period) by the weighted average number of common shares outstanding during the period.&nbsp;&nbsp;Diluted EPS includes the determinants of basic EPS and, in addition, reflects the dilutive effect, if any, of the common stock deliverable pursuant to stock options or common stock issuable upon the conversion of convertible preferred stock.&nbsp;&nbsp;The calculation of diluted EPS excluded 670,338 and 674,042 shares of Common Stock underlying issued and outstanding stock options for the three months and nine months ended September&nbsp;30, 2016, respectively, as their effect was antidilutive.&nbsp;&nbsp;The potential dilution, if any, is shown on the following schedule:</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 94.00%;margin-left:27.35pt;"> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended<br />September&nbsp;30, 2016</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended<br />September&nbsp;30, 2015</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine Months Ended<br />September&nbsp;30, 2016</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine Months Ended<br />September&nbsp;30, 2015</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Net income (loss)</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(125,304 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(254,826 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,721,089 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,239,459 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Preferred dividend requirements</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(176,249 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(227,499 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(528,747 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(682,802 </td> <td valign="bottom" style="width:01.02%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Earnings (loss) applicable to common shareholders after assumed conversions</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(301,553 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(482,325 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,249,836 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,556,657 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Average common shares outstanding</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,649,874 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,873,447 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,252,652 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,759,333 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Average common and common equivalent shares outstanding &#x2013; assuming dilution</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,649,874 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,873,447 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,252,652 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,436,008 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Basic earnings (loss) per share</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.01 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.02 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.08 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.16 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Diluted earnings (loss) per share</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.01 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.02 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.08 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.15 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 0.001 -0.008 -0.001 -0.004 763576 618743 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Financial instruments</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company estimates the fair market value of financial instruments through the use of public market prices, quotes from financial institutions, and other available information.&nbsp;&nbsp;Judgment is required in interpreting data to develop estimates of market value and, accordingly, amounts are not necessarily indicative of the amounts that could be realized in a current market exchange.&nbsp;&nbsp;Short-term financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and other liabilities, consist primarily of instruments without extended maturities, the fair value of which, based on Management&#x2019;s estimates, equals their recorded values.&nbsp;&nbsp;The fair value of long-term liabilities, based on Management&#x2019;s estimates, approximates their reported values.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> P17Y 7724826 7321847 2342165 6306085 2165246 8223034 3223518 8068426 3259775 <div> <div> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Long-lived assets</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company assesses the recoverability of long-lived assets using an assessment of the estimated undiscounted future cash flows related to such assets.&nbsp;&nbsp;In the event that assets are found to be carried at amounts which are in excess of estimated gross future cash flows, the assets will be adjusted for impairment to a level commensurate with fair value determined using a discounted cash flow analysis of the underlying assets.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company&#x2019;s property, plant, and equipment primarily consist of buildings, land, assembly equipment for syringes, molding machines, molds, office equipment, furniture, and fixtures.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 5245592 -252782 -1719649 -124824 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INCOME TAXES</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company&#x2019;s effective tax rate on the net earnings (loss) before income taxes was (0.1)% and 0.1% for the nine months ended September&nbsp;30, 2016 and September&nbsp;30, 2015, respectively.&nbsp;&nbsp;For the three months ended September&nbsp;30, 2016 and September&nbsp;30, 2015, the Company&#x2019;s effective tax rate on the net earnings (loss) before income taxes was (0.4)% and (0.8)%, respectively.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 9017 2025 6133 2044 1440 480 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Income taxes</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company evaluates tax positions taken or expected to be taken in a tax return for recognition in the financial statements based on whether it is &#x201C;more-likely-than-not&#x201D; that a tax position will be sustained based upon the technical merits of the position.&nbsp;&nbsp;Measurement of the tax position is based upon the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company provides for deferred income taxes through utilizing an asset and liability approach for financial accounting and reporting based on the tax effects of differences between the financial statement and tax bases of assets and liabilities, based on enacted rates expected to be in effect when such differences reverse in future periods.&nbsp;&nbsp;Deferred tax assets are periodically reviewed for realizability.&nbsp;&nbsp;The Company has established a valuation allowance for its net deferred tax asset as future taxable income cannot be reasonably assured.&nbsp;&nbsp;Penalties and interest related to income tax are classified as General and administrative expense and Interest expense, respectively, in the Condensed Statements of Operations.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> -36989 -988248 -474048 352444 -2885 2717 1447486 908099 321124 139817 -419238 -1338622 750 -600897 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Intangible assets</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Intangible assets are stated at cost and consist primarily of intellectual property which is amortized using the straight-line method over 17 years.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 165269 58316 158327 51994 165269 158325 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INVENTORIES</font> </p> <p style="margin:0pt 0pt 0pt 24.45pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.45pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Inventories consist of the following:</font> </p> <p style="margin:0pt 0pt 0pt 24.45pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font></font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 94.00%;margin-left:24.5pt;"> <tr> <td valign="bottom" style="width:50.92%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">December&nbsp;31,&nbsp;2015</font></p> </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Raw materials</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,614,476 </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,664,241 </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Finished goods</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,448,066 </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,313,778 </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,062,542 </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,978,019 </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Inventory reserve</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(857,818 </td> <td valign="bottom" style="width:01.38%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(681,394 </td> <td valign="bottom" style="width:01.06%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,204,724 </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,296,625 </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 5313778 6448066 6978019 8062542 6296625 7204724 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Inventories</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Inventories are valued at the lower of cost or market, with cost being determined using actual average cost.&nbsp;&nbsp;The Company compares the average cost to the market price and records the lower value.&nbsp;&nbsp;Management considers such factors as the amount of inventory on hand and in the distribution channel, estimated time to sell such inventory, the shelf life of inventory, and current market conditions when determining excess or obsolete inventories.&nbsp;&nbsp;A reserve is established for any excess or obsolete inventories or they may be written off.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 1664241 1614476 681394 857818 20836 4916 19822 8609 11722823 11513184 10479751 42540864 40544856 8095713 7259685 249349 259336 3417471 3220066 113508014 340524042 209646 486142 -662399 -1671649 -1972279 -1640823 5239459 -254826 -1721089 -125304 4556657 -482325 -2249836 -301553 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Recent Pronouncements</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">In March&nbsp;2016, the FASB issued ASU 2016-09, &#x201C;Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting&#x201D;.&nbsp;&nbsp;This ASU addresses several aspects of the accounting for share-based compensation transactions including: (a)&nbsp;income tax consequences when awards vest or are settled, (b)&nbsp;classification of awards as either equity or liabilities, (c)&nbsp;a policy election to account for forfeitures as they occur rather than on an estimated basis and (d)&nbsp;classification of excess tax impacts on the statement of cash flows.&nbsp;&nbsp;The updated guidance is effective for the Company&#x2019;s quarter ending March&nbsp;31, 2017, with early adoption permitted.&nbsp;&nbsp;The Company is currently assessing the impact that adoption of this guidance will have on its financial statements and related disclosures.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">In February&nbsp;2016, the FASB issued ASU No.&nbsp;2016-02, Leases (topic 842). Under the new ASU, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1)&nbsp;a lease liability, which is a lessee&#x2019;s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2)&nbsp;a right-of-use asset, which is an asset that represents the lessee&#x2019;s right to use, or control the use of, a specified asset for the lease term. Under the new guidance lessor accounting is largely unchanged. The new lease guidance simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. This ASU is effective for public companies for fiscal years beginning after December&nbsp;15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of this standard.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">In July&nbsp;2015, the FASB issued ASU No.&nbsp;2015-11, &#x201C;Inventory (Topic 330) Simplifying the Measurement of Inventory,&#x201D; which is part of the FASB&#x2019;s Simplification Initiative.&nbsp;&nbsp;Inventory, including inventory measured at average cost, would be valued at the lower of cost or net realizable value.&nbsp;&nbsp;Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.&nbsp;&nbsp;ASU 2015-11 is effective for the Company&#x2019;s annual periods and interim periods within those annual periods beginning January&nbsp;1, 2017.&nbsp;&nbsp;Amendments in this ASU should be applied prospectively with earlier application permitted at the beginning of an interim or annual reporting period.&nbsp;&nbsp;The Company is currently assessing the potential impact of this ASU on its financial statements.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">In May&nbsp;2014, FASB issued ASU No.&nbsp;2014-09, &#x201C;Revenue from Contracts with Customers&#x201D;, which provides guidance for revenue recognition.&nbsp;&nbsp;This ASU&#x2019;s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects consideration to which the company expects to be entitled in exchange for those goods or services.&nbsp;&nbsp;This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. &nbsp;ASU No.&nbsp;2014-09 allows for either full retrospective or modified retrospective adoption.&nbsp; In July&nbsp;2015, the FASB voted to delay the effective date of this ASU by one year.&nbsp;&nbsp;The ASU will now be effective commencing with the Company&#x2019;s quarter ending March&nbsp;31, 2018.&nbsp;&nbsp;Early adoption of this ASU is allowed no sooner than the original effective date.&nbsp;&nbsp;The Company is currently assessing the potential impact of this ASU on its financial statements.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 11282192 185869 12304416 167776 10557835 3422900 9649570 3341214 -2334801 -199382 -1581144 -81439 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 19.45pt;text-indent: -19.45pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BUSINESS OF THE COMPANY AND BASIS OF PRESENTATION</font> </p> <p style="margin:0pt 0pt 0pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Business of the Company</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Retractable Technologies,&nbsp;Inc. (the &#x201C;Company&#x201D;) was incorporated in Texas on May&nbsp;9, 1994, and designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.&nbsp;&nbsp;The Company began to develop its manufacturing operations in 1995.&nbsp;&nbsp;The Company&#x2019;s manufacturing and administrative facilities are located in Little Elm, Texas.&nbsp;&nbsp;The Company&#x2019;s products are the VanishPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE;</font><font style="display:inline;"> 0.5mL insulin syringe; 1mL tuberculin, insulin, and allergy antigen syringes; 0.5mL, 1mL, 2mL, 3mL, 5mL, and 10mL syringes; the small diameter tube adapter; the blood collection tube holder; the allergy tray; the IV safety catheter; the Patient Safe</font><font style="display:inline;font-size:6.5pt;">&#xAE;</font><font style="display:inline;"> syringes; the Patient Safe</font><font style="display:inline;font-size:6.5pt;">&#xAE;</font><font style="display:inline;"> Luer Cap; the VanishPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE; &nbsp;</font><font style="display:inline;">Blood Collection Set; and the EasyPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE;</font><font style="display:inline;"> needle.&nbsp;&nbsp;The Company also sells VanishPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE; &nbsp;</font><font style="display:inline;">autodisable syringes in the international market in addition to the Company&#x2019;s other products.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Basis of presentation</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The accompanying condensed financial statements are unaudited and, in the opinion of Management, reflect all adjustments that are necessary for a fair presentation of the financial position and results of operations for the periods presented.&nbsp;&nbsp;All such adjustments are of a normal and recurring nature.&nbsp;&nbsp;The results of operations for the periods presented are not necessarily indicative of the results to be expected for the entire year.&nbsp;&nbsp;The condensed financial statements should be read in conjunction with the financial statement disclosures contained in the Company&#x2019;s audited financial statements incorporated into its Form&nbsp;10-K filed on March&nbsp;30, 2016 for the year ended December&nbsp;31, 2015.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 690535 926043 1568032 229410 20887 27093 227180 165640 1263296 1671649 682802 227499 528747 176249 1 1 40000 342500 98500 129245 171200 40000 342500 98500 129245 171200 276495 -123602 -187418 283933 839200 11468061 12472192 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Property, plant, and equipment</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Property, plant, and equipment are stated at cost.&nbsp;&nbsp;Expenditures for maintenance and repairs are charged to operations as incurred.&nbsp;&nbsp;Cost includes major expenditures for improvements and replacements which extend useful lives or increase capacity and interest cost associated with significant capital additions.&nbsp;&nbsp;Gains or losses from property disposals are included in income.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Depreciation and amortization are calculated using the straight-line method over the following useful lives:</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:72pt;"> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Production equipment</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">3 to 13 years</font></p> </td> </tr> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Office furniture and equipment</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">3 to 10 years</font></p> </td> </tr> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Buildings</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">39 years</font></p> </td> </tr> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Building improvements</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">15 years</font></p> </td> </tr> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Automobiles</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">7 years</font></p> </td> </tr> </table></div> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> P7Y P15Y P39Y P13Y P3Y P10Y P3Y 141000 92000 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Accounts receivable</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company records trade receivables when revenue is recognized.&nbsp;&nbsp;No product has been consigned to customers.&nbsp;&nbsp;The Company&#x2019;s allowance for doubtful accounts is primarily determined by review of specific trade receivables.&nbsp;&nbsp;Those accounts that are doubtful of collection are included in the allowance.&nbsp;&nbsp;This provision is reviewed to determine the adequacy of the allowance for doubtful accounts.&nbsp;&nbsp;Trade receivables are charged off when there is certainty as to their being uncollectible.&nbsp;&nbsp;Trade receivables are considered delinquent when payment has not been made within contract terms.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company requires certain customers to make a prepayment prior to beginning production or shipment of their order.&nbsp;&nbsp;Customers may apply such prepayments to their outstanding invoices or pay the invoice and continue to carry forward the deposit for future orders.&nbsp;&nbsp;Such amounts are included in Other accrued liabilities on the Condensed Balance Sheets and are shown in Note 5, Other Accrued Liabilities.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company records an allowance for estimated returns as a reduction to Accounts receivable and Gross sales.&nbsp;&nbsp;Historically, returns have been immaterial.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 409764 125780 389712 117939 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Research and development costs</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Research and development costs are expensed as incurred.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> -28021801 -29742890 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Revenue recognition</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Revenue is recognized for sales when title and risk of ownership passes to the customer, generally upon shipment.&nbsp;&nbsp;Under certain contracts, revenue is recorded on the basis of sales price to distributors, less contractual pricing allowances.&nbsp;&nbsp;Contractual pricing allowances consist of: (i)&nbsp;rebates granted to distributors who provide tracking reports which show, among other things, the facility that purchased the products, and (ii)&nbsp;a provision for estimated contractual pricing allowances for products for which the Company has not received tracking reports.&nbsp;&nbsp;Rebates are recorded when issued and are applied against the customer&#x2019;s receivable balance.&nbsp;&nbsp;Distributors receive a rebate for the difference between the Wholesale Acquisition Cost and the appropriate contract price as reflected on a tracking report provided by the distributor to the Company. If product is sold by a distributor to an entity that has no contract, there is a standard rebate (lower than a contracted rebate) given to the distributor.&nbsp;&nbsp;One of the purposes of the rebate is to encourage distributors to submit tracking reports to the Company. The provision for contractual pricing allowances is reviewed at the end of each quarter and adjusted for changes in levels of products for which there is no tracking report.&nbsp;&nbsp;Additionally, if it becomes clear that tracking reports will not be provided by individual distributors, the provision is further adjusted.&nbsp;&nbsp;The estimated contractual allowance is included in Accounts payable in the Balance Sheets and deducted from revenues in the Statements of Operations.&nbsp;&nbsp;Accounts payable included estimated contractual allowances for $3,998,904 and $3,733,199 as of September&nbsp;30, 2016 and December&nbsp;31, 2015, respectively.&nbsp;&nbsp;The terms and conditions of contractual pricing allowances are governed by contracts between the Company and its distributors.&nbsp;&nbsp;Revenue for shipments directly to end-users is recognized when title and risk of ownership pass from the Company.&nbsp;&nbsp;Any product shipped or distributed for evaluation purposes is expensed.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Certain distributors have taken rebates to which they are not entitled, such as utilizing a rebate for products not purchased directly from the Company.&nbsp;&nbsp;Major customers said they have ceased the practices resulting in claiming non-contractual rebates.&nbsp;&nbsp;Rebates can only be claimed on purchases made directly from the Company. The Company has established a reserve for the collectability of these non-contractual rebate amounts.&nbsp;&nbsp;The expense for the reserve is recorded in Operating expense, General and administrative.&nbsp;&nbsp;The reserve for such non-contractual deductions is included in the allowance for doubtful accounts.&nbsp;&nbsp;There has been no change to the reserve for contractual rebates in the periods currently presented.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company&#x2019;s domestic return policy is set forth in its standard Distribution Agreement.&nbsp;&nbsp;This policy provides that a customer may return incorrect shipments within 10 days following arrival at the distributor&#x2019;s facility.&nbsp;&nbsp;In all such cases the distributor must obtain an authorization code from the Company and affix the code to the returned product.&nbsp;&nbsp;The Company will not accept returned goods without a returned goods authorization number.&nbsp;&nbsp;The Company may refund the customer&#x2019;s money or replace the product.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company&#x2019;s domestic return policy also generally provides that a customer may return product that is overstocked.&nbsp;&nbsp;Overstocking returns are limited to two times in each 12-month period up to 1% of distributor&#x2019;s total purchase of products for the prior 12-month period.&nbsp;&nbsp;All product overstocks and returns are subject to inspection and acceptance by the Company.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company&#x2019;s international distribution agreements generally do not provide for any returns.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 22376912 17423389 4345044 608479 10300000 9482866 6152873 3065507 264486 5100000 22337169 19750504 2058594 528071 7100000 8840134 7303015 1406720 130399 3500000 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font></font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 94.00%;margin-left:24.5pt;"> <tr> <td valign="bottom" style="width:50.90%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">December&nbsp;31,&nbsp;2015</font></p> </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.90%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Prepayments from customers</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.34%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>357,396&nbsp; </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.26%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>395,396&nbsp; </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.90%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Accrued property taxes</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.34%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>327,602&nbsp; </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.26%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&#x2014;</font></p> </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.90%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Accrued professional fees</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.34%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>213,952&nbsp; </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.26%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>274,252&nbsp; </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.90%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Other accrued expenses</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.34%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,093&nbsp; </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.26%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>20,887&nbsp; </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.90%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:50.90%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.34%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>926,043&nbsp; </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.26%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>690,535&nbsp; </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.90%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.82%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.32%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.04%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font></font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 94.00%;margin-left:27.35pt;"> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended<br />September&nbsp;30, 2016</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended<br />September&nbsp;30, 2015</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine Months Ended<br />September&nbsp;30, 2016</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine Months Ended<br />September&nbsp;30, 2015</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Net income (loss)</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(125,304 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(254,826 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,721,089 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,239,459 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Preferred dividend requirements</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(176,249 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(227,499 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(528,747 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(682,802 </td> <td valign="bottom" style="width:01.02%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Earnings (loss) applicable to common shareholders after assumed conversions</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(301,553 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(482,325 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,249,836 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,556,657 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Average common shares outstanding</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,649,874 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,873,447 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,252,652 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,759,333 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Average common and common equivalent shares outstanding &#x2013; assuming dilution</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,649,874 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,873,447 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,252,652 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,436,008 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Basic earnings (loss) per share</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.01 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.02 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.08 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.16 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Diluted earnings (loss) per share</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.01 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.02 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.08 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.15 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font></font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 94.00%;margin-left:24.5pt;"> <tr> <td valign="bottom" style="width:50.92%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">December&nbsp;31,&nbsp;2015</font></p> </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Raw materials</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,614,476 </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,664,241 </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Finished goods</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,448,066 </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,313,778 </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,062,542 </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,978,019 </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Inventory reserve</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(857,818 </td> <td valign="bottom" style="width:01.38%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(681,394 </td> <td valign="bottom" style="width:01.06%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,204,724 </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:21.24%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,296,625 </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:50.92%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.76%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.38%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:21.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> <div> <div> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font></font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 94.00%;margin-left:27.45pt;"> <tr> <td valign="bottom" style="width:20.98%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three&nbsp;Months&nbsp;Ended<br />September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three&nbsp;Months&nbsp;Ended<br />September&nbsp;30,&nbsp;2015</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine&nbsp;Months&nbsp;Ended<br />September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine&nbsp;Months&nbsp;Ended<br />September&nbsp;30,&nbsp;2015</font></p> </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:20.98%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">U.S. sales</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,303,015&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,152,873&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,750,504&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,423,389&nbsp; </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:20.98%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">North and South America sales (excluding U.S.)</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,406,720&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,065,507&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,058,594&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,345,044&nbsp; </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:20.98%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Other international sales</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>130,399&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>264,486&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>528,071&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>608,479&nbsp; </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:20.98%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:20.98%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Total sales</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,840,134&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,482,866&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,337,169&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,376,912&nbsp; </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:20.98%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font></font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 93.00%;margin-left:27.35pt;"> <tr> <td valign="bottom" style="width:57.26%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:18.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:02.40%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:18.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">December&nbsp;31,&nbsp;2015</font></p> </td> <td valign="bottom" style="width:00.94%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:57.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:18.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.40%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:18.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.94%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:57.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Long-lived assets</font></p> </td> <td valign="bottom" style="width:02.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:18.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.40%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:18.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.94%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:57.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 20.2pt;line-height:106.67%;text-indent: -10.1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">U.S.</font></p> </td> <td valign="bottom" style="width:02.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.12%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,304,416&nbsp; </td> <td valign="bottom" style="width:02.40%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.30%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.34%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11,282,192&nbsp; </td> <td valign="bottom" style="width:00.94%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:57.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 20.2pt;line-height:106.67%;text-indent: -10.1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">International</font></p> </td> <td valign="bottom" style="width:02.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.12%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>167,776&nbsp; </td> <td valign="bottom" style="width:02.40%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.30%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.34%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>185,869&nbsp; </td> <td valign="bottom" style="width:00.94%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> </table></div> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font></font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 94.00%;margin-left:27.35pt;"> <tr> <td valign="bottom" style="width:26.26%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three&nbsp;Months&nbsp;ended<br />September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three&nbsp;Months&nbsp;ended<br />September&nbsp;30,&nbsp;2015</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine&nbsp;Months&nbsp;ended<br />September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine&nbsp;Months&nbsp;ended<br />September&nbsp;30,&nbsp;2015</font></p> </td> </tr> <tr> <td valign="top" style="width:26.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Number of significant customers</font></p> </td> <td valign="top" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2&nbsp; </td> </tr> <tr> <td valign="top" style="width:26.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Aggregate dollar amount of net sales to significant customers</font></p> </td> <td valign="top" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$3.5 million</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$5.1 million</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$7.1 million</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$10.3 million</font></p> </td> </tr> <tr> <td valign="top" style="width:26.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Percentage of net sales to significant customers</font></p> </td> <td valign="top" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>39.3%&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>53.5%&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31.6%&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46.0%&nbsp; </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BUSINESS SEGMENTS</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 94.00%;margin-left:27.45pt;"> <tr> <td valign="bottom" style="width:20.98%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three&nbsp;Months&nbsp;Ended<br />September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three&nbsp;Months&nbsp;Ended<br />September&nbsp;30,&nbsp;2015</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine&nbsp;Months&nbsp;Ended<br />September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine&nbsp;Months&nbsp;Ended<br />September&nbsp;30,&nbsp;2015</font></p> </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:20.98%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">U.S. sales</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,303,015&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,152,873&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,750,504&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,423,389&nbsp; </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:20.98%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">North and South America sales (excluding U.S.)</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,406,720&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,065,507&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,058,594&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,345,044&nbsp; </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:20.98%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Other international sales</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>130,399&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>264,486&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>528,071&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:16.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>608,479&nbsp; </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:20.98%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:20.98%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Total sales</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,840,134&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,482,866&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,337,169&nbsp; </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,376,912&nbsp; </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:20.98%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:16.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.06%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 93.00%;margin-left:27.35pt;"> <tr> <td valign="bottom" style="width:57.26%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:18.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:02.40%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:18.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">December&nbsp;31,&nbsp;2015</font></p> </td> <td valign="bottom" style="width:00.94%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:57.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:18.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.40%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:18.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.94%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:57.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Long-lived assets</font></p> </td> <td valign="bottom" style="width:02.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:18.62%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.40%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:18.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.94%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:57.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 20.2pt;line-height:106.67%;text-indent: -10.1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">U.S.</font></p> </td> <td valign="bottom" style="width:02.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.12%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,304,416&nbsp; </td> <td valign="bottom" style="width:02.40%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.30%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.34%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11,282,192&nbsp; </td> <td valign="bottom" style="width:00.94%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:57.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 20.2pt;line-height:106.67%;text-indent: -10.1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">International</font></p> </td> <td valign="bottom" style="width:02.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.12%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>167,776&nbsp; </td> <td valign="bottom" style="width:02.40%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.30%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:16.34%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>185,869&nbsp; </td> <td valign="bottom" style="width:00.94%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> </table></div> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company does not operate in separate reportable segments.&nbsp;&nbsp;The Company has minimal long-lived assets in foreign countries.&nbsp;&nbsp;Shipments to international customers generally require a prepayment either by wire transfer or an irrevocable confirmed letter of credit.&nbsp;&nbsp;The Company does extend credit to international customers on some occasions depending upon certain criteria, including, but not limited to, the credit worthiness of the customer, the stability of the country, banking restrictions, and the size of the order.&nbsp;&nbsp;All transactions are in U.S. currency.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 2826224 954955 2953773 1058029 84651 P1Y P10Y 0.0161 0.0184 0.676 0.669 500400 2.03 3000000 2.75 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Share-based compensation</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company&#x2019;s share-based payments are accounted for using the fair value method.&nbsp;&nbsp;The Company records share-based compensation expense on a straight-line basis over the requisite service period.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Shipping and handling costs</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company classifies shipping and handling costs as part of Cost of sales in the Condensed Statements of Operations.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 19.45pt;text-indent: -19.45pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Accounting estimates</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles (&#x201C;GAAP&#x201D;) requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&nbsp;&nbsp;Actual results could differ significantly from those estimates.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Cash and cash equivalents</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">For purposes of reporting cash flows, cash and cash equivalents include unrestricted cash, money market accounts, and investments with original maturities of three months or less.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Accounts receivable</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company records trade receivables when revenue is recognized.&nbsp;&nbsp;No product has been consigned to customers.&nbsp;&nbsp;The Company&#x2019;s allowance for doubtful accounts is primarily determined by review of specific trade receivables.&nbsp;&nbsp;Those accounts that are doubtful of collection are included in the allowance.&nbsp;&nbsp;This provision is reviewed to determine the adequacy of the allowance for doubtful accounts.&nbsp;&nbsp;Trade receivables are charged off when there is certainty as to their being uncollectible.&nbsp;&nbsp;Trade receivables are considered delinquent when payment has not been made within contract terms.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company requires certain customers to make a prepayment prior to beginning production or shipment of their order.&nbsp;&nbsp;Customers may apply such prepayments to their outstanding invoices or pay the invoice and continue to carry forward the deposit for future orders.&nbsp;&nbsp;Such amounts are included in Other accrued liabilities on the Condensed Balance Sheets and are shown in Note 5, Other Accrued Liabilities.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company records an allowance for estimated returns as a reduction to Accounts receivable and Gross sales.&nbsp;&nbsp;Historically, returns have been immaterial.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Inventories</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Inventories are valued at the lower of cost or market, with cost being determined using actual average cost.&nbsp;&nbsp;The Company compares the average cost to the market price and records the lower value.&nbsp;&nbsp;Management considers such factors as the amount of inventory on hand and in the distribution channel, estimated time to sell such inventory, the shelf life of inventory, and current market conditions when determining excess or obsolete inventories.&nbsp;&nbsp;A reserve is established for any excess or obsolete inventories or they may be written off.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Property, plant, and equipment</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Property, plant, and equipment are stated at cost.&nbsp;&nbsp;Expenditures for maintenance and repairs are charged to operations as incurred.&nbsp;&nbsp;Cost includes major expenditures for improvements and replacements which extend useful lives or increase capacity and interest cost associated with significant capital additions.&nbsp;&nbsp;Gains or losses from property disposals are included in income.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Depreciation and amortization are calculated using the straight-line method over the following useful lives:</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:72pt;"> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Production equipment</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">3 to 13 years</font></p> </td> </tr> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Office furniture and equipment</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">3 to 10 years</font></p> </td> </tr> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Buildings</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">39 years</font></p> </td> </tr> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Building improvements</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">15 years</font></p> </td> </tr> <tr> <td valign="top" style="width:54.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Automobiles</font></p> </td> <td valign="top" style="width:45.20%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">7 years</font></p> </td> </tr> </table></div> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Long-lived assets</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company assesses the recoverability of long-lived assets using an assessment of the estimated undiscounted future cash flows related to such assets.&nbsp;&nbsp;In the event that assets are found to be carried at amounts which are in excess of estimated gross future cash flows, the assets will be adjusted for impairment to a level commensurate with fair value determined using a discounted cash flow analysis of the underlying assets.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company&#x2019;s property, plant, and equipment primarily consist of buildings, land, assembly equipment for syringes, molding machines, molds, office equipment, furniture, and fixtures.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Intangible assets</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Intangible assets are stated at cost and consist primarily of intellectual property which is amortized using the straight-line method over 17 years.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Financial instruments</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company estimates the fair market value of financial instruments through the use of public market prices, quotes from financial institutions, and other available information.&nbsp;&nbsp;Judgment is required in interpreting data to develop estimates of market value and, accordingly, amounts are not necessarily indicative of the amounts that could be realized in a current market exchange.&nbsp;&nbsp;Short-term financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and other liabilities, consist primarily of instruments without extended maturities, the fair value of which, based on Management&#x2019;s estimates, equals their recorded values.&nbsp;&nbsp;The fair value of long-term liabilities, based on Management&#x2019;s estimates, approximates their reported values.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Concentration risks</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company&#x2019;s financial instruments exposed to concentrations of credit risk consist primarily of cash, cash equivalents, and accounts receivable.&nbsp;&nbsp;Cash balances, some of which exceed federally insured limits, are maintained in financial institutions; however, Management believes the institutions are of high credit quality.&nbsp;&nbsp;The majority of accounts receivable are due from companies which are well-established entities.&nbsp;&nbsp;As a consequence, Management considers any exposure from concentrations of credit risks to be limited.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The following table reflects our significant customers for the first three and nine months of 2016 and 2015:</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 94.00%;margin-left:27.35pt;"> <tr> <td valign="bottom" style="width:26.26%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three&nbsp;Months&nbsp;ended<br />September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three&nbsp;Months&nbsp;ended<br />September&nbsp;30,&nbsp;2015</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine&nbsp;Months&nbsp;ended<br />September&nbsp;30,&nbsp;2016</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine&nbsp;Months&nbsp;ended<br />September&nbsp;30,&nbsp;2015</font></p> </td> </tr> <tr> <td valign="top" style="width:26.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Number of significant customers</font></p> </td> <td valign="top" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2&nbsp; </td> </tr> <tr> <td valign="top" style="width:26.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Aggregate dollar amount of net sales to significant customers</font></p> </td> <td valign="top" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$3.5 million</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$5.1 million</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$7.1 million</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$10.3 million</font></p> </td> </tr> <tr> <td valign="top" style="width:26.26%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Percentage of net sales to significant customers</font></p> </td> <td valign="top" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>39.3%&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>53.5%&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31.6%&nbsp; </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46.0%&nbsp; </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company manufactures syringes in Little Elm, Texas as well as utilizing manufacturers in China.&nbsp;&nbsp;The Company purchases most of its product components from single suppliers, including needle adhesives and packaging materials.&nbsp;&nbsp;There are multiple sources of these materials.&nbsp;&nbsp;The Company obtained roughly 85.1% and 78.2% of its VanishPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE; &nbsp;</font><font style="display:inline;">syringes in the first nine months of 2016 and 2015, respectively, from its primary Chinese manufacturer.&nbsp;&nbsp;Purchases from this Chinese manufacturer aggregated 92.7% and 82.4% of VanishPoint</font><font style="display:inline;font-size:6.5pt;">&#xAE; &nbsp;</font><font style="display:inline;">syringes in the three month periods ended September&nbsp;30, 2016 and 2015, respectively.&nbsp;&nbsp;In the event that the Company becomes unable to purchase products from its primary Chinese manufacturer, the Company would need to find an alternate manufacturer for its 0.5mL insulin syringe, its 2mL, 5mL, and 10mL syringes and its autodisable syringe, and increase domestic production for 1mL and 3mL syringes.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Revenue recognition</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Revenue is recognized for sales when title and risk of ownership passes to the customer, generally upon shipment.&nbsp;&nbsp;Under certain contracts, revenue is recorded on the basis of sales price to distributors, less contractual pricing allowances.&nbsp;&nbsp;Contractual pricing allowances consist of: (i)&nbsp;rebates granted to distributors who provide tracking reports which show, among other things, the facility that purchased the products, and (ii)&nbsp;a provision for estimated contractual pricing allowances for products for which the Company has not received tracking reports.&nbsp;&nbsp;Rebates are recorded when issued and are applied against the customer&#x2019;s receivable balance.&nbsp;&nbsp;Distributors receive a rebate for the difference between the Wholesale Acquisition Cost and the appropriate contract price as reflected on a tracking report provided by the distributor to the Company. If product is sold by a distributor to an entity that has no contract, there is a standard rebate (lower than a contracted rebate) given to the distributor.&nbsp;&nbsp;One of the purposes of the rebate is to encourage distributors to submit tracking reports to the Company. The provision for contractual pricing allowances is reviewed at the end of each quarter and adjusted for changes in levels of products for which there is no tracking report.&nbsp;&nbsp;Additionally, if it becomes clear that tracking reports will not be provided by individual distributors, the provision is further adjusted.&nbsp;&nbsp;The estimated contractual allowance is included in Accounts payable in the Balance Sheets and deducted from revenues in the Statements of Operations.&nbsp;&nbsp;Accounts payable included estimated contractual allowances for $3,998,904 and $3,733,199 as of September&nbsp;30, 2016 and December&nbsp;31, 2015, respectively.&nbsp;&nbsp;The terms and conditions of contractual pricing allowances are governed by contracts between the Company and its distributors.&nbsp;&nbsp;Revenue for shipments directly to end-users is recognized when title and risk of ownership pass from the Company.&nbsp;&nbsp;Any product shipped or distributed for evaluation purposes is expensed.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Certain distributors have taken rebates to which they are not entitled, such as utilizing a rebate for products not purchased directly from the Company.&nbsp;&nbsp;Major customers said they have ceased the practices resulting in claiming non-contractual rebates.&nbsp;&nbsp;Rebates can only be claimed on purchases made directly from the Company. The Company has established a reserve for the collectability of these non-contractual rebate amounts.&nbsp;&nbsp;The expense for the reserve is recorded in Operating expense, General and administrative.&nbsp;&nbsp;The reserve for such non-contractual deductions is included in the allowance for doubtful accounts.&nbsp;&nbsp;There has been no change to the reserve for contractual rebates in the periods currently presented.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company&#x2019;s domestic return policy is set forth in its standard Distribution Agreement.&nbsp;&nbsp;This policy provides that a customer may return incorrect shipments within 10 days following arrival at the distributor&#x2019;s facility.&nbsp;&nbsp;In all such cases the distributor must obtain an authorization code from the Company and affix the code to the returned product.&nbsp;&nbsp;The Company will not accept returned goods without a returned goods authorization number.&nbsp;&nbsp;The Company may refund the customer&#x2019;s money or replace the product.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company&#x2019;s domestic return policy also generally provides that a customer may return product that is overstocked.&nbsp;&nbsp;Overstocking returns are limited to two times in each 12-month period up to 1% of distributor&#x2019;s total purchase of products for the prior 12-month period.&nbsp;&nbsp;All product overstocks and returns are subject to inspection and acceptance by the Company.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company&#x2019;s international distribution agreements generally do not provide for any returns.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Income taxes</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company evaluates tax positions taken or expected to be taken in a tax return for recognition in the financial statements based on whether it is &#x201C;more-likely-than-not&#x201D; that a tax position will be sustained based upon the technical merits of the position.&nbsp;&nbsp;Measurement of the tax position is based upon the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company provides for deferred income taxes through utilizing an asset and liability approach for financial accounting and reporting based on the tax effects of differences between the financial statement and tax bases of assets and liabilities, based on enacted rates expected to be in effect when such differences reverse in future periods.&nbsp;&nbsp;Deferred tax assets are periodically reviewed for realizability.&nbsp;&nbsp;The Company has established a valuation allowance for its net deferred tax asset as future taxable income cannot be reasonably assured.&nbsp;&nbsp;Penalties and interest related to income tax are classified as General and administrative expense and Interest expense, respectively, in the Condensed Statements of Operations.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Earnings per share</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company computes basic earnings per share (&#x201C;EPS&#x201D;) by dividing net earnings for the period (adjusted for any cumulative dividends for the period) by the weighted average number of common shares outstanding during the period.&nbsp;&nbsp;Diluted EPS includes the determinants of basic EPS and, in addition, reflects the dilutive effect, if any, of the common stock deliverable pursuant to stock options or common stock issuable upon the conversion of convertible preferred stock.&nbsp;&nbsp;The calculation of diluted EPS excluded 670,338 and 674,042 shares of Common Stock underlying issued and outstanding stock options for the three months and nine months ended September&nbsp;30, 2016, respectively, as their effect was antidilutive.&nbsp;&nbsp;The potential dilution, if any, is shown on the following schedule:</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 94.00%;margin-left:27.35pt;"> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended<br />September&nbsp;30, 2016</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended<br />September&nbsp;30, 2015</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine Months Ended<br />September&nbsp;30, 2016</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-weight:bold;font-size:8pt;">Nine Months Ended<br />September&nbsp;30, 2015</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Net income (loss)</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(125,304 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(254,826 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,721,089 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,239,459 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Preferred dividend requirements</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(176,249 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(227,499 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(528,747 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(682,802 </td> <td valign="bottom" style="width:01.02%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Earnings (loss) applicable to common shareholders after assumed conversions</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(301,553 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(482,325 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,249,836 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,556,657 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Average common shares outstanding</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,649,874 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,873,447 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,252,652 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,759,333 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Average common and common equivalent shares outstanding &#x2013; assuming dilution</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,649,874 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,873,447 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,252,652 </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,436,008 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Basic earnings (loss) per share</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.01 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.02 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.08 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.16 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt 0pt 0pt 10pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Diluted earnings (loss) per share</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.01 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.02 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.08 </td> <td valign="bottom" style="width:01.50%;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">)</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">$</font></p> </td> <td valign="bottom" style="width:15.80%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.15 </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="top" style="width:24.12%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.64%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.02%;padding:0pt;"> <p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Shipping and handling costs</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company classifies shipping and handling costs as part of Cost of sales in the Condensed Statements of Operations.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Research and development costs</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Research and development costs are expensed as incurred.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Share-based compensation</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company&#x2019;s share-based payments are accounted for using the fair value method.&nbsp;&nbsp;The Company records share-based compensation expense on a straight-line basis over the requisite service period.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Recent Pronouncements</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">In March&nbsp;2016, the FASB issued ASU 2016-09, &#x201C;Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting&#x201D;.&nbsp;&nbsp;This ASU addresses several aspects of the accounting for share-based compensation transactions including: (a)&nbsp;income tax consequences when awards vest or are settled, (b)&nbsp;classification of awards as either equity or liabilities, (c)&nbsp;a policy election to account for forfeitures as they occur rather than on an estimated basis and (d)&nbsp;classification of excess tax impacts on the statement of cash flows.&nbsp;&nbsp;The updated guidance is effective for the Company&#x2019;s quarter ending March&nbsp;31, 2017, with early adoption permitted.&nbsp;&nbsp;The Company is currently assessing the impact that adoption of this guidance will have on its financial statements and related disclosures.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">In February&nbsp;2016, the FASB issued ASU No.&nbsp;2016-02, Leases (topic 842). Under the new ASU, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1)&nbsp;a lease liability, which is a lessee&#x2019;s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2)&nbsp;a right-of-use asset, which is an asset that represents the lessee&#x2019;s right to use, or control the use of, a specified asset for the lease term. Under the new guidance lessor accounting is largely unchanged. The new lease guidance simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. This ASU is effective for public companies for fiscal years beginning after December&nbsp;15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of this standard.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">In July&nbsp;2015, the FASB issued ASU No.&nbsp;2015-11, &#x201C;Inventory (Topic 330) Simplifying the Measurement of Inventory,&#x201D; which is part of the FASB&#x2019;s Simplification Initiative.&nbsp;&nbsp;Inventory, including inventory measured at average cost, would be valued at the lower of cost or net realizable value.&nbsp;&nbsp;Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.&nbsp;&nbsp;ASU 2015-11 is effective for the Company&#x2019;s annual periods and interim periods within those annual periods beginning January&nbsp;1, 2017.&nbsp;&nbsp;Amendments in this ASU should be applied prospectively with earlier application permitted at the beginning of an interim or annual reporting period.&nbsp;&nbsp;The Company is currently assessing the potential impact of this ASU on its financial statements.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">In May&nbsp;2014, FASB issued ASU No.&nbsp;2014-09, &#x201C;Revenue from Contracts with Customers&#x201D;, which provides guidance for revenue recognition.&nbsp;&nbsp;This ASU&#x2019;s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects consideration to which the company expects to be entitled in exchange for those goods or services.&nbsp;&nbsp;This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. &nbsp;ASU No.&nbsp;2014-09 allows for either full retrospective or modified retrospective adoption.&nbsp; In July&nbsp;2015, the FASB voted to delay the effective date of this ASU by one year.&nbsp;&nbsp;The ASU will now be effective commencing with the Company&#x2019;s quarter ending March&nbsp;31, 2018.&nbsp;&nbsp;Early adoption of this ASU is allowed no sooner than the original effective date.&nbsp;&nbsp;The Company is currently assessing the potential impact of this ASU on its financial statements.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 5900000 31027680 30065105 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">10.&nbsp;&nbsp;&nbsp;&nbsp;SUBSEQUENT EVENTS</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;color:#000000;">On November&nbsp;1, 2016, the Compensation and Benefits Committee approved a grant of a stock option to the chief executive officer for the purchase of 3,000,000 shares of Common Stock, not pursuant to any existing stock option plan, which will require shareholder approval prior to effectiveness.&nbsp;&nbsp;The total value of this option using the </font><font style="display:inline;">Black Scholes Option Pricing Model using a risk-free rate of 1.84% and a volatility factor of 66.9% is $5.9 million.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> <div> <div> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Accounting estimates</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles (&#x201C;GAAP&#x201D;) requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&nbsp;&nbsp;Actual results could differ significantly from those estimates.</font> </p> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 29436008 27873447 29252652 29649874 27759333 27873447 29252652 29649874 EX-101.SCH 6 rvp-20160930.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 00100 - Statement - CONDENSED BALANCE SHEETS link:presentationLink link:calculationLink link:definitionLink 00200 - Statement - CONDENSED STATEMENTS OF OPERATIONS link:presentationLink link:calculationLink link:definitionLink 00300 - Statement - CONDENSED STATEMENTS OF CASH FLOWS link:presentationLink link:calculationLink link:definitionLink 40301 - Disclosure - INVENTORIES (Details) link:presentationLink link:calculationLink link:definitionLink 40501 - Disclosure - OTHER ACCRUED LIABILITIES (Details) link:presentationLink link:calculationLink link:definitionLink 00090 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00105 - Statement - CONDENSED BALANCE SHEETS (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 10101 - Disclosure - BUSINESS OF THE COMPANY AND BASIS OF PRESENTATION link:presentationLink link:calculationLink link:definitionLink 10201 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES link:presentationLink link:calculationLink link:definitionLink 10301 - Disclosure - INVENTORIES link:presentationLink link:calculationLink link:definitionLink 10401 - Disclosure - INCOME TAXES link:presentationLink link:calculationLink link:definitionLink 10501 - Disclosure - OTHER ACCRUED LIABILITIES link:presentationLink link:calculationLink link:definitionLink 10601 - Disclosure - COMMITMENTS AND CONTINGENCIES link:presentationLink link:calculationLink link:definitionLink 10701 - Disclosure - BUSINESS SEGMENTS link:presentationLink link:calculationLink link:definitionLink 10801 - Disclosure - DIVIDENDS link:presentationLink link:calculationLink link:definitionLink 10901 - Disclosure - STOCK OPTIONS link:presentationLink link:calculationLink link:definitionLink 11001 - Disclosure - SUBSEQUENT EVENTS link:presentationLink link:calculationLink link:definitionLink 20202 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) link:presentationLink link:calculationLink link:definitionLink 30203 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) link:presentationLink link:calculationLink link:definitionLink 30303 - Disclosure - INVENTORIES (Tables) link:presentationLink link:calculationLink link:definitionLink 30503 - Disclosure - OTHER ACCRUED LIABILITIES (Tables) link:presentationLink link:calculationLink link:definitionLink 30703 - Disclosure - BUSINESS SEGMENTS (Tables) link:presentationLink link:calculationLink link:definitionLink 40201 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment (Details) link:presentationLink link:calculationLink link:definitionLink 40202 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Concentration of Risk (Details) link:presentationLink link:calculationLink link:definitionLink 40203 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Earnings Per Share (Details) link:presentationLink link:calculationLink link:definitionLink 40401 - Disclosure - INCOME TAXES (Details) link:presentationLink link:calculationLink link:definitionLink 40601 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details) link:presentationLink link:calculationLink link:definitionLink 40701 - Disclosure - BUSINESS SEGMENTS (Details) link:presentationLink link:calculationLink link:definitionLink 40801 - Disclosure - DIVIDENDS (Details) link:presentationLink link:calculationLink link:definitionLink 40901 - Disclosure - STOCK OPTIONS (Details) link:presentationLink link:calculationLink link:definitionLink 41001 - Disclosure - SUBSEQUENT EVENTS (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 7 rvp-20160930_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 8 rvp-20160930_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 9 rvp-20160930_lab.xml XBRL TAXONOMY EXTENSION LABELS LINKBASE DOCUMENT EX-101.PRE 10 rvp-20160930_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT XML 11 R1.htm IDEA: XBRL DOCUMENT v3.5.0.2
Document and Entity Information - shares
9 Months Ended
Sep. 30, 2016
Nov. 01, 2016
Document and Entity Information    
Entity Registrant Name RETRACTABLE TECHNOLOGIES INC  
Entity Central Index Key 0000946563  
Document Type 10-Q  
Document Period End Date Sep. 30, 2016  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Entity Current Reporting Status Yes  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   29,654,754
Document Fiscal Year Focus 2016  
Document Fiscal Period Focus Q3  
XML 12 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED BALANCE SHEETS - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 15,218,714 $ 18,045,044
Accounts receivable, net 5,161,441 4,900,997
Inventories, net 7,204,724 6,296,625
Other current assets 229,410 1,568,032
Total current assets 27,814,289 30,810,698
Property, plant, and equipment, net 12,472,192 11,468,061
Intangible and other assets, net 258,375 262,105
Total assets 40,544,856 42,540,864
Current liabilities:    
Accounts payable 4,709,270 5,697,518
Current portion of long-term debt 259,336 249,349
Accrued compensation 618,743 763,576
Dividends payable 55,113 55,414
Accrued royalties to shareholder 680,287 631,145
Other accrued liabilities 926,043 690,535
Income taxes payable 10,893 8,176
Total current liabilities 7,259,685 8,095,713
Long-term debt, net of current maturities 3,220,066 3,417,471
Total liabilities 10,479,751 11,513,184
Commitments and contingencies - see Note 6
Preferred stock $1 par value:    
Common Stock, no par value
Additional paid-in capital 59,026,550 58,268,036
Retained deficit (29,742,890) (28,021,801)
Total stockholders' equity 30,065,105 31,027,680
Total liabilities and stockholders' equity 40,544,856 42,540,864
Series I, Class B    
Preferred stock $1 par value:    
Preferred stock 98,500 98,500
Series II, Class B    
Preferred stock $1 par value:    
Preferred stock 171,200 171,200
Series III, Class B    
Preferred stock $1 par value:    
Preferred stock 129,245 129,245
Series IV, Class B    
Preferred stock $1 par value:    
Preferred stock 342,500 342,500
Series V, Class B    
Preferred stock $1 par value:    
Preferred stock $ 40,000 $ 40,000
XML 13 R3.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares
Sep. 30, 2016
Dec. 31, 2015
CONDENSED BALANCE SHEETS    
Preferred stock, par value (in dollars per share) $ 1 $ 1
Common stock, par value (in dollars per share) $ 0 $ 0
XML 14 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
CONDENSED STATEMENTS OF OPERATIONS        
Sales, net $ 8,840,134 $ 9,482,866 $ 22,337,169 $ 22,376,912
Cost of sales        
Cost of manufactured product 4,900,072 5,489,151 12,400,679 12,307,440
Royalty expense to shareholders 680,287 770,197 1,868,064 1,846,438
Total cost of sales 5,580,359 6,259,348 14,268,743 14,153,878
Gross profit 3,259,775 3,223,518 8,068,426 8,223,034
Operating expenses:        
Sales and marketing 1,058,029 954,955 2,953,773 2,826,224
Research and development 117,939 125,780 389,712 409,764
General and administrative 2,165,246 2,342,165 6,306,085 7,321,847
Total operating expenses 3,341,214 3,422,900 9,649,570 10,557,835
Loss from operations (81,439) (199,382) (1,581,144) (2,334,801)
Litigation proceeds       7,724,826
Interest and other income 8,609 4,916 19,822 20,836
Interest expense, net (51,994) (58,316) (158,327) (165,269)
Net income (loss) before income taxes (124,824) (252,782) (1,719,649) 5,245,592
Provision for income taxes 480 2,044 1,440 6,133
Net income (loss) (125,304) (254,826) (1,721,089) 5,239,459
Preferred stock dividend requirements (176,249) (227,499) (528,747) (682,802)
Earnings (loss) applicable to common shareholders $ (301,553) $ (482,325) $ (2,249,836) $ 4,556,657
Basic earnings (loss) per share (in dollars per share) $ (0.01) $ (0.02) $ (0.08) $ 0.16
Diluted earnings (loss) per share (in dollars per share) $ (0.01) $ (0.02) $ (0.08) $ 0.15
Weighted average common shares outstanding:        
Basic (in shares) 29,649,874 27,873,447 29,252,652 27,759,333
Diluted (in shares) 29,649,874 27,873,447 29,252,652 29,436,008
XML 15 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities    
Net income (loss) $ (1,721,089) $ 5,239,459
Adjustments to reconcile net income (loss) to net cash used by operating activities:    
Provision for doubtful accounts 92,000 141,000
Share based compensation 84,651  
Depreciation and amortization 672,000 645,038
(Increase) decrease in assets:    
Inventories (908,099) (1,447,486)
Accounts receivable (352,444) 474,048
Other current assets 1,338,622 419,238
Other assets (750)  
Increase (decrease) in liabilities:    
Accounts payable (988,248) (36,989)
Litigation proceeds subject to stipulation   (7,724,826)
Other accrued liabilities 139,817 321,124
Income taxes payable 2,717 (2,885)
Net cash used by operating activities (1,640,823) (1,972,279)
Cash flows from investing activities    
Purchase of property, plant, and equipment (1,671,649) (1,263,296)
Change in restricted cash   600,897
Net cash used by investing activities (1,671,649) (662,399)
Cash flows from financing activities    
Repayments of long-term debt and notes payable (187,418) (123,602)
Proceeds from the exercise of stock options 839,200 283,933
Proceeds from long-term debt   276,495
Payment of Preferred Stock dividends (165,640) (227,180)
Net cash provided by financing activities 486,142 209,646
Net decrease in cash and cash equivalents (2,826,330) (2,425,032)
Cash and cash equivalents at:    
Beginning of period 18,045,044 22,128,977
End of period 15,218,714 19,703,945
Supplemental schedule of cash flow information:    
Interest paid 158,325 165,269
Income taxes paid 2,025 9,017
Supplemental schedule of noncash investing and financing activities:    
Preferred dividends declared, not paid $ 55,113 $ 56,363
XML 16 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
BUSINESS OF THE COMPANY AND BASIS OF PRESENTATION
9 Months Ended
Sep. 30, 2016
BUSINESS OF THE COMPANY AND BASIS OF PRESENTATION  
BUSINESS OF THE COMPANY AND BASIS OF PRESENTATION

 

1.      BUSINESS OF THE COMPANY AND BASIS OF PRESENTATION

 

Business of the Company

 

Retractable Technologies, Inc. (the “Company”) was incorporated in Texas on May 9, 1994, and designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.  The Company began to develop its manufacturing operations in 1995.  The Company’s manufacturing and administrative facilities are located in Little Elm, Texas.  The Company’s products are the VanishPoint® 0.5mL insulin syringe; 1mL tuberculin, insulin, and allergy antigen syringes; 0.5mL, 1mL, 2mL, 3mL, 5mL, and 10mL syringes; the small diameter tube adapter; the blood collection tube holder; the allergy tray; the IV safety catheter; the Patient Safe® syringes; the Patient Safe® Luer Cap; the VanishPoint®  Blood Collection Set; and the EasyPoint® needle.  The Company also sells VanishPoint®  autodisable syringes in the international market in addition to the Company’s other products.

 

Basis of presentation

 

The accompanying condensed financial statements are unaudited and, in the opinion of Management, reflect all adjustments that are necessary for a fair presentation of the financial position and results of operations for the periods presented.  All such adjustments are of a normal and recurring nature.  The results of operations for the periods presented are not necessarily indicative of the results to be expected for the entire year.  The condensed financial statements should be read in conjunction with the financial statement disclosures contained in the Company’s audited financial statements incorporated into its Form 10-K filed on March 30, 2016 for the year ended December 31, 2015.

 

XML 17 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
9 Months Ended
Sep. 30, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

2.      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Accounting estimates

 

The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ significantly from those estimates.

 

Cash and cash equivalents

 

For purposes of reporting cash flows, cash and cash equivalents include unrestricted cash, money market accounts, and investments with original maturities of three months or less.

 

Accounts receivable

 

The Company records trade receivables when revenue is recognized.  No product has been consigned to customers.  The Company’s allowance for doubtful accounts is primarily determined by review of specific trade receivables.  Those accounts that are doubtful of collection are included in the allowance.  This provision is reviewed to determine the adequacy of the allowance for doubtful accounts.  Trade receivables are charged off when there is certainty as to their being uncollectible.  Trade receivables are considered delinquent when payment has not been made within contract terms.

 

The Company requires certain customers to make a prepayment prior to beginning production or shipment of their order.  Customers may apply such prepayments to their outstanding invoices or pay the invoice and continue to carry forward the deposit for future orders.  Such amounts are included in Other accrued liabilities on the Condensed Balance Sheets and are shown in Note 5, Other Accrued Liabilities.

 

The Company records an allowance for estimated returns as a reduction to Accounts receivable and Gross sales.  Historically, returns have been immaterial.

 

Inventories

 

Inventories are valued at the lower of cost or market, with cost being determined using actual average cost.  The Company compares the average cost to the market price and records the lower value.  Management considers such factors as the amount of inventory on hand and in the distribution channel, estimated time to sell such inventory, the shelf life of inventory, and current market conditions when determining excess or obsolete inventories.  A reserve is established for any excess or obsolete inventories or they may be written off.

 

Property, plant, and equipment

 

Property, plant, and equipment are stated at cost.  Expenditures for maintenance and repairs are charged to operations as incurred.  Cost includes major expenditures for improvements and replacements which extend useful lives or increase capacity and interest cost associated with significant capital additions.  Gains or losses from property disposals are included in income.

 

Depreciation and amortization are calculated using the straight-line method over the following useful lives:

 

Production equipment

3 to 13 years

Office furniture and equipment

3 to 10 years

Buildings

39 years

Building improvements

15 years

Automobiles

7 years

 

Long-lived assets

 

The Company assesses the recoverability of long-lived assets using an assessment of the estimated undiscounted future cash flows related to such assets.  In the event that assets are found to be carried at amounts which are in excess of estimated gross future cash flows, the assets will be adjusted for impairment to a level commensurate with fair value determined using a discounted cash flow analysis of the underlying assets.

 

The Company’s property, plant, and equipment primarily consist of buildings, land, assembly equipment for syringes, molding machines, molds, office equipment, furniture, and fixtures.

 

Intangible assets

 

Intangible assets are stated at cost and consist primarily of intellectual property which is amortized using the straight-line method over 17 years.

 

Financial instruments

 

The Company estimates the fair market value of financial instruments through the use of public market prices, quotes from financial institutions, and other available information.  Judgment is required in interpreting data to develop estimates of market value and, accordingly, amounts are not necessarily indicative of the amounts that could be realized in a current market exchange.  Short-term financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and other liabilities, consist primarily of instruments without extended maturities, the fair value of which, based on Management’s estimates, equals their recorded values.  The fair value of long-term liabilities, based on Management’s estimates, approximates their reported values.

 

Concentration risks

 

The Company’s financial instruments exposed to concentrations of credit risk consist primarily of cash, cash equivalents, and accounts receivable.  Cash balances, some of which exceed federally insured limits, are maintained in financial institutions; however, Management believes the institutions are of high credit quality.  The majority of accounts receivable are due from companies which are well-established entities.  As a consequence, Management considers any exposure from concentrations of credit risks to be limited.

 

The following table reflects our significant customers for the first three and nine months of 2016 and 2015:

 

 

 

Three Months ended
September 30, 2016

 

Three Months ended
September 30, 2015

 

Nine Months ended
September 30, 2016

 

Nine Months ended
September 30, 2015

Number of significant customers

 

 

 

 

Aggregate dollar amount of net sales to significant customers

 

$3.5 million

 

$5.1 million

 

$7.1 million

 

$10.3 million

Percentage of net sales to significant customers

 

39.3% 

 

53.5% 

 

31.6% 

 

46.0% 

 

The Company manufactures syringes in Little Elm, Texas as well as utilizing manufacturers in China.  The Company purchases most of its product components from single suppliers, including needle adhesives and packaging materials.  There are multiple sources of these materials.  The Company obtained roughly 85.1% and 78.2% of its VanishPoint®  syringes in the first nine months of 2016 and 2015, respectively, from its primary Chinese manufacturer.  Purchases from this Chinese manufacturer aggregated 92.7% and 82.4% of VanishPoint®  syringes in the three month periods ended September 30, 2016 and 2015, respectively.  In the event that the Company becomes unable to purchase products from its primary Chinese manufacturer, the Company would need to find an alternate manufacturer for its 0.5mL insulin syringe, its 2mL, 5mL, and 10mL syringes and its autodisable syringe, and increase domestic production for 1mL and 3mL syringes.

 

Revenue recognition

 

Revenue is recognized for sales when title and risk of ownership passes to the customer, generally upon shipment.  Under certain contracts, revenue is recorded on the basis of sales price to distributors, less contractual pricing allowances.  Contractual pricing allowances consist of: (i) rebates granted to distributors who provide tracking reports which show, among other things, the facility that purchased the products, and (ii) a provision for estimated contractual pricing allowances for products for which the Company has not received tracking reports.  Rebates are recorded when issued and are applied against the customer’s receivable balance.  Distributors receive a rebate for the difference between the Wholesale Acquisition Cost and the appropriate contract price as reflected on a tracking report provided by the distributor to the Company. If product is sold by a distributor to an entity that has no contract, there is a standard rebate (lower than a contracted rebate) given to the distributor.  One of the purposes of the rebate is to encourage distributors to submit tracking reports to the Company. The provision for contractual pricing allowances is reviewed at the end of each quarter and adjusted for changes in levels of products for which there is no tracking report.  Additionally, if it becomes clear that tracking reports will not be provided by individual distributors, the provision is further adjusted.  The estimated contractual allowance is included in Accounts payable in the Balance Sheets and deducted from revenues in the Statements of Operations.  Accounts payable included estimated contractual allowances for $3,998,904 and $3,733,199 as of September 30, 2016 and December 31, 2015, respectively.  The terms and conditions of contractual pricing allowances are governed by contracts between the Company and its distributors.  Revenue for shipments directly to end-users is recognized when title and risk of ownership pass from the Company.  Any product shipped or distributed for evaluation purposes is expensed.

 

Certain distributors have taken rebates to which they are not entitled, such as utilizing a rebate for products not purchased directly from the Company.  Major customers said they have ceased the practices resulting in claiming non-contractual rebates.  Rebates can only be claimed on purchases made directly from the Company. The Company has established a reserve for the collectability of these non-contractual rebate amounts.  The expense for the reserve is recorded in Operating expense, General and administrative.  The reserve for such non-contractual deductions is included in the allowance for doubtful accounts.  There has been no change to the reserve for contractual rebates in the periods currently presented.

 

The Company’s domestic return policy is set forth in its standard Distribution Agreement.  This policy provides that a customer may return incorrect shipments within 10 days following arrival at the distributor’s facility.  In all such cases the distributor must obtain an authorization code from the Company and affix the code to the returned product.  The Company will not accept returned goods without a returned goods authorization number.  The Company may refund the customer’s money or replace the product.

 

The Company’s domestic return policy also generally provides that a customer may return product that is overstocked.  Overstocking returns are limited to two times in each 12-month period up to 1% of distributor’s total purchase of products for the prior 12-month period.  All product overstocks and returns are subject to inspection and acceptance by the Company.

 

The Company’s international distribution agreements generally do not provide for any returns.

 

Income taxes

 

The Company evaluates tax positions taken or expected to be taken in a tax return for recognition in the financial statements based on whether it is “more-likely-than-not” that a tax position will be sustained based upon the technical merits of the position.  Measurement of the tax position is based upon the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement.

 

The Company provides for deferred income taxes through utilizing an asset and liability approach for financial accounting and reporting based on the tax effects of differences between the financial statement and tax bases of assets and liabilities, based on enacted rates expected to be in effect when such differences reverse in future periods.  Deferred tax assets are periodically reviewed for realizability.  The Company has established a valuation allowance for its net deferred tax asset as future taxable income cannot be reasonably assured.  Penalties and interest related to income tax are classified as General and administrative expense and Interest expense, respectively, in the Condensed Statements of Operations.

 

Earnings per share

 

The Company computes basic earnings per share (“EPS”) by dividing net earnings for the period (adjusted for any cumulative dividends for the period) by the weighted average number of common shares outstanding during the period.  Diluted EPS includes the determinants of basic EPS and, in addition, reflects the dilutive effect, if any, of the common stock deliverable pursuant to stock options or common stock issuable upon the conversion of convertible preferred stock.  The calculation of diluted EPS excluded 670,338 and 674,042 shares of Common Stock underlying issued and outstanding stock options for the three months and nine months ended September 30, 2016, respectively, as their effect was antidilutive.  The potential dilution, if any, is shown on the following schedule:

 

 

 

Three Months Ended
September 30, 2016

 

 

Three Months Ended
September 30, 2015

 

 

Nine Months Ended
September 30, 2016

 

 

Nine Months Ended
September 30, 2015

 

Net income (loss)

$

(125,304

)

$

(254,826

)

$

(1,721,089

)

$

5,239,459

 

Preferred dividend requirements

 

(176,249

)

 

(227,499

)

 

(528,747

)

 

(682,802

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) applicable to common shareholders after assumed conversions

$

(301,553

)

$

(482,325

)

$

(2,249,836

)

$

4,556,657

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

29,649,874

 

 

27,873,447

 

 

29,252,652

 

 

27,759,333

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common and common equivalent shares outstanding – assuming dilution

 

29,649,874

 

 

27,873,447

 

 

29,252,652

 

 

29,436,008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share

$

(0.01

)

$

(0.02

)

$

(0.08

)

$

0.16

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share

$

(0.01

)

$

(0.02

)

$

(0.08

)

$

0.15

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shipping and handling costs

 

The Company classifies shipping and handling costs as part of Cost of sales in the Condensed Statements of Operations.

 

Research and development costs

 

Research and development costs are expensed as incurred.

 

Share-based compensation

 

The Company’s share-based payments are accounted for using the fair value method.  The Company records share-based compensation expense on a straight-line basis over the requisite service period.

 

Recent Pronouncements

 

In March 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”.  This ASU addresses several aspects of the accounting for share-based compensation transactions including: (a) income tax consequences when awards vest or are settled, (b) classification of awards as either equity or liabilities, (c) a policy election to account for forfeitures as they occur rather than on an estimated basis and (d) classification of excess tax impacts on the statement of cash flows.  The updated guidance is effective for the Company’s quarter ending March 31, 2017, with early adoption permitted.  The Company is currently assessing the impact that adoption of this guidance will have on its financial statements and related disclosures.

 

In February 2016, the FASB issued ASU No. 2016-02, Leases (topic 842). Under the new ASU, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance lessor accounting is largely unchanged. The new lease guidance simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. This ASU is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of this standard.

 

In July 2015, the FASB issued ASU No. 2015-11, “Inventory (Topic 330) Simplifying the Measurement of Inventory,” which is part of the FASB’s Simplification Initiative.  Inventory, including inventory measured at average cost, would be valued at the lower of cost or net realizable value.  Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.  ASU 2015-11 is effective for the Company’s annual periods and interim periods within those annual periods beginning January 1, 2017.  Amendments in this ASU should be applied prospectively with earlier application permitted at the beginning of an interim or annual reporting period.  The Company is currently assessing the potential impact of this ASU on its financial statements.

 

In May 2014, FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers”, which provides guidance for revenue recognition.  This ASU’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects consideration to which the company expects to be entitled in exchange for those goods or services.  This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract.  ASU No. 2014-09 allows for either full retrospective or modified retrospective adoption.  In July 2015, the FASB voted to delay the effective date of this ASU by one year.  The ASU will now be effective commencing with the Company’s quarter ending March 31, 2018.  Early adoption of this ASU is allowed no sooner than the original effective date.  The Company is currently assessing the potential impact of this ASU on its financial statements.

 

XML 18 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
INVENTORIES
9 Months Ended
Sep. 30, 2016
INVENTORIES  
INVENTORIES

 

3.      INVENTORIES

 

Inventories consist of the following:

 

 

 

September 30, 2016

 

 

December 31, 2015

 

Raw materials

$

1,614,476

 

$

1,664,241

 

Finished goods

 

6,448,066

 

 

5,313,778

 

 

 

 

 

 

 

 

 

 

8,062,542

 

 

6,978,019

 

Inventory reserve

 

(857,818

)

 

(681,394

)

 

 

 

 

 

 

 

 

$

7,204,724

 

$

6,296,625

 

 

 

 

 

 

 

 

 

XML 19 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
INCOME TAXES
9 Months Ended
Sep. 30, 2016
INCOME TAXES  
INCOME TAXES

 

4.      INCOME TAXES

 

The Company’s effective tax rate on the net earnings (loss) before income taxes was (0.1)% and 0.1% for the nine months ended September 30, 2016 and September 30, 2015, respectively.  For the three months ended September 30, 2016 and September 30, 2015, the Company’s effective tax rate on the net earnings (loss) before income taxes was (0.4)% and (0.8)%, respectively.

 

XML 20 R10.htm IDEA: XBRL DOCUMENT v3.5.0.2
OTHER ACCRUED LIABILITIES
9 Months Ended
Sep. 30, 2016
OTHER ACCRUED LIABILITIES  
OTHER ACCRUED LIABILITIES

 

5.      OTHER ACCRUED LIABILITIES

 

Other accrued liabilities consist of the following:

 

 

 

September 30, 2016

 

 

December 31, 2015

 

Prepayments from customers

$

357,396 

 

$

395,396 

 

Accrued property taxes

 

327,602 

 

 

 

Accrued professional fees

 

213,952 

 

 

274,252 

 

Other accrued expenses

 

27,093 

 

 

20,887 

 

 

 

 

 

 

 

 

 

$

926,043 

 

$

690,535 

 

 

 

 

 

 

 

 

 

XML 21 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
COMMITMENTS AND CONTINGENCIES
9 Months Ended
Sep. 30, 2016
COMMITMENTS AND CONTINGENCIES  
COMMITMENTS AND CONTINGENCIES

 

6.      COMMITMENTS AND CONTINGENCIES

 

In May 2010, the Company and an officer’s suit against Becton, Dickinson and Company (“BD”) in the U.S. District Court for the Eastern District of Texas, Marshall Division alleging violations of antitrust acts, false advertising, product disparagement, tortious interference, and unfair competition was reopened.  The trial commenced on September 9, 2013, in the U.S. District Court for the Eastern District of Texas, Tyler Division, and the jury found that BD illegally engaged in anticompetitive conduct with the intent to acquire or maintain monopoly power in the safety syringe market and engaged in false advertising under the Lanham Act.  The jury awarded the Company $113,508,014 in damages, which was trebled pursuant to statute.  The Court granted injunctive relief to take effect January 15, 2015.  In doing so, the Court found that BD’s business practices limited innovation, including false advertisements that suppressed sales of the VanishPoint®.  The specific injunctive relief includes: (1) enjoining BD’s use of “World’s Sharpest Needle” or any similar assertion of superior sharpness; (2) requiring notification to all customers who purchased BD syringe products from July 2, 2004 to date that BD wrongfully claimed that its syringe needles were sharper and that its statement that it had “data on file” was false and misleading; (3) requiring notification to employees, customers, distributors, GPOs, and government agencies that the deadspace of the VanishPoint® has been within ISO standards since 2004 and that BD overstated the deadspace of the VanishPoint® to represent that it was higher than some of BD’s syringes when it was actually less, and that BD’s statement that it had “data on file” was false and misleading, and, in addition, posting this notice on its website for a period of three years; (4) enjoining BD from advertising that its syringe products save medication as compared to VanishPoint® products for a period of three years; (5) requiring notification to all employees, customers, distributors, GPOs, and government agencies that BD’s website, cost calculator, printed materials, and oral representations alleging BD’s syringes save medication as compared to the VanishPoint® were based on false and inaccurate measurement of the VanishPoint®, and, in addition, posting this notice on its website for a period of three years; and (6) requiring the implementation of a comprehensive training program for BD employees and distributors that specifically instructs them not to use old marketing materials and not to make false representations regarding VanishPoint® syringes.  Final judgment was entered on January 15, 2015, awarding the Company $340,524,042 in damages and $11,722,823 in attorneys’ fees, as well as granting injunctive relief consistent with the orders as indicated above.  The parties stipulated that the amount of litigation costs recoverable by the Company is $295,000.  On January 14, 2015, the District Court stayed the portion of the injunctive relief that requires BD to notify end-user customers but also ordered BD to comply with internal correction activities as well as mandatory disclosures as set out above to its employees, customers, distributors and Group Purchasing Organizations.  BD filed an appeal of that ruling with the 5th Circuit Court of Appeals and that appeal was denied on February 3, 2015.  On February 12, 2015, BD filed a motion to amend the judgment directed most specifically to the issue of award of prejudgment interest.  On April 23, 2015, the Court entered an Amended Final Judgment that removed prejudgment interest but kept all other monetary and injunctive relief the same as was granted in the original Final Judgment.  BD filed its brief in the appeal on July 20, 2015.  The Company filed its responsive brief on September 18, 2015, and BD filed its brief in reply on October 19, 2015, to complete the briefing.  Oral argument occurred on Monday, February 29, 2016.  There is no set time limit for the 5th Circuit Court of Appeals to issue its decision.

 

In September 2007, BD and MDC Investment Holdings, Inc. (“MDC”) sued the Company in the United States District Court for the Eastern District of Texas, Texarkana Division, initially alleging that the Company is infringing two U.S. patents of MDC (6,179,812 and 7,090,656) that are licensed to BD.  BD and MDC seek injunctive relief and unspecified damages.  The Company counterclaimed for declarations of non-infringement, invalidity, and unenforceability of the asserted patents.  The plaintiffs subsequently dropped allegations with regard to patent no. 7,090,656 and the Company subsequently dropped its counterclaims for unenforceability of the asserted patents.  On June 30, 2015, the Court ordered that further proceedings in this matter be stayed and that this case remain administratively closed until resolution of all appeals in the case detailed in the first paragraph of this Note 6.

 

XML 22 R12.htm IDEA: XBRL DOCUMENT v3.5.0.2
BUSINESS SEGMENTS
9 Months Ended
Sep. 30, 2016
BUSINESS SEGMENTS  
BUSINESS SEGMENTS

 

7.      BUSINESS SEGMENTS

 

 

 

Three Months Ended
September 30, 2016

 

Three Months Ended
September 30, 2015

 

Nine Months Ended
September 30, 2016

 

Nine Months Ended
September 30, 2015

 

U.S. sales

$

7,303,015 

$

6,152,873 

$

19,750,504 

$

17,423,389 

 

North and South America sales (excluding U.S.)

 

1,406,720 

 

3,065,507 

 

2,058,594 

 

4,345,044 

 

Other international sales

 

130,399 

 

264,486 

 

528,071 

 

608,479 

 

 

 

 

 

 

 

 

 

 

 

Total sales

$

8,840,134 

$

9,482,866 

$

22,337,169 

$

22,376,912 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2016

 

December 31, 2015

 

 

 

 

 

 

 

Long-lived assets

 

 

 

 

 

U.S.

 

$

12,304,416 

 

$

11,282,192 

 

International

 

$

167,776 

 

$

185,869 

 

 

The Company does not operate in separate reportable segments.  The Company has minimal long-lived assets in foreign countries.  Shipments to international customers generally require a prepayment either by wire transfer or an irrevocable confirmed letter of credit.  The Company does extend credit to international customers on some occasions depending upon certain criteria, including, but not limited to, the credit worthiness of the customer, the stability of the country, banking restrictions, and the size of the order.  All transactions are in U.S. currency.

 

XML 23 R13.htm IDEA: XBRL DOCUMENT v3.5.0.2
DIVIDENDS
9 Months Ended
Sep. 30, 2016
DIVIDENDS  
DIVIDENDS

 

8.      DIVIDENDS

 

The Company declared dividends in 2015 in the amounts of $12,313 and $43,101 paid to Series I Class B and Series II Class B Preferred Stockholders, respectively, on February 1, 2016.  The Company declared dividends in the first quarter of 2016 in the amounts of $12,313 and $42,800 paid to Series I Class B and Series II Class B Preferred Stockholders, respectively, on April 21, 2016.  The Company declared dividends in the second quarter of 2016 in the amounts of $12,313 and $42,800 paid to Series I Class B and Series II Class B Preferred Stockholders, respectively, on July 28, 2016.  The Company declared dividends in the third quarter of 2016 in the amounts of $12,313 and $42,800 paid to Series I Class B and Series II Class B Preferred Stockholders, respectively, on October 20, 2016.

 

XML 24 R14.htm IDEA: XBRL DOCUMENT v3.5.0.2
STOCK OPTIONS
9 Months Ended
Sep. 30, 2016
STOCK OPTIONS  
STOCK OPTIONS

 

9.      STOCK OPTIONS

 

On September 9, 2016, the Compensation and Benefits Committee approved grants of incentive stock options to the Company’s employees under the First Amended 2008 Stock Option Plan with exercise prices at fair market value ($2.75 per share), a ten-year term, and one-year vesting period, except to the extent that such vesting period would violate the First Amended 2008 Stock Option Plan.  In total, once vested, the stock options will be exercisable into 500,400 shares of Common Stock.  The value of an option for the purchase of one underlying common share is valued at $2.03, using the Black Scholes Option Pricing Model using a risk-free rate of 1.61% and a volatility factor of 67.6%.

XML 25 R15.htm IDEA: XBRL DOCUMENT v3.5.0.2
SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2016
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

 

10.    SUBSEQUENT EVENTS

 

On November 1, 2016, the Compensation and Benefits Committee approved a grant of a stock option to the chief executive officer for the purchase of 3,000,000 shares of Common Stock, not pursuant to any existing stock option plan, which will require shareholder approval prior to effectiveness.  The total value of this option using the Black Scholes Option Pricing Model using a risk-free rate of 1.84% and a volatility factor of 66.9% is $5.9 million.

 

XML 26 R16.htm IDEA: XBRL DOCUMENT v3.5.0.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
9 Months Ended
Sep. 30, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Accounting estimates

 

Accounting estimates

 

The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ significantly from those estimates.

 

Cash and cash equivalents

 

Cash and cash equivalents

 

For purposes of reporting cash flows, cash and cash equivalents include unrestricted cash, money market accounts, and investments with original maturities of three months or less.

 

Accounts receivable

 

Accounts receivable

 

The Company records trade receivables when revenue is recognized.  No product has been consigned to customers.  The Company’s allowance for doubtful accounts is primarily determined by review of specific trade receivables.  Those accounts that are doubtful of collection are included in the allowance.  This provision is reviewed to determine the adequacy of the allowance for doubtful accounts.  Trade receivables are charged off when there is certainty as to their being uncollectible.  Trade receivables are considered delinquent when payment has not been made within contract terms.

 

The Company requires certain customers to make a prepayment prior to beginning production or shipment of their order.  Customers may apply such prepayments to their outstanding invoices or pay the invoice and continue to carry forward the deposit for future orders.  Such amounts are included in Other accrued liabilities on the Condensed Balance Sheets and are shown in Note 5, Other Accrued Liabilities.

 

The Company records an allowance for estimated returns as a reduction to Accounts receivable and Gross sales.  Historically, returns have been immaterial.

 

Inventories

 

Inventories

 

Inventories are valued at the lower of cost or market, with cost being determined using actual average cost.  The Company compares the average cost to the market price and records the lower value.  Management considers such factors as the amount of inventory on hand and in the distribution channel, estimated time to sell such inventory, the shelf life of inventory, and current market conditions when determining excess or obsolete inventories.  A reserve is established for any excess or obsolete inventories or they may be written off.

 

Property, plant, and equipment

 

Property, plant, and equipment

 

Property, plant, and equipment are stated at cost.  Expenditures for maintenance and repairs are charged to operations as incurred.  Cost includes major expenditures for improvements and replacements which extend useful lives or increase capacity and interest cost associated with significant capital additions.  Gains or losses from property disposals are included in income.

 

Depreciation and amortization are calculated using the straight-line method over the following useful lives:

 

Production equipment

3 to 13 years

Office furniture and equipment

3 to 10 years

Buildings

39 years

Building improvements

15 years

Automobiles

7 years

 

Long-lived assets

 

Long-lived assets

 

The Company assesses the recoverability of long-lived assets using an assessment of the estimated undiscounted future cash flows related to such assets.  In the event that assets are found to be carried at amounts which are in excess of estimated gross future cash flows, the assets will be adjusted for impairment to a level commensurate with fair value determined using a discounted cash flow analysis of the underlying assets.

 

The Company’s property, plant, and equipment primarily consist of buildings, land, assembly equipment for syringes, molding machines, molds, office equipment, furniture, and fixtures.

 

Intangible assets

 

Intangible assets

 

Intangible assets are stated at cost and consist primarily of intellectual property which is amortized using the straight-line method over 17 years.

 

Financial instruments

 

Financial instruments

 

The Company estimates the fair market value of financial instruments through the use of public market prices, quotes from financial institutions, and other available information.  Judgment is required in interpreting data to develop estimates of market value and, accordingly, amounts are not necessarily indicative of the amounts that could be realized in a current market exchange.  Short-term financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and other liabilities, consist primarily of instruments without extended maturities, the fair value of which, based on Management’s estimates, equals their recorded values.  The fair value of long-term liabilities, based on Management’s estimates, approximates their reported values.

 

Concentration risks

 

Concentration risks

 

The Company’s financial instruments exposed to concentrations of credit risk consist primarily of cash, cash equivalents, and accounts receivable.  Cash balances, some of which exceed federally insured limits, are maintained in financial institutions; however, Management believes the institutions are of high credit quality.  The majority of accounts receivable are due from companies which are well-established entities.  As a consequence, Management considers any exposure from concentrations of credit risks to be limited.

 

The following table reflects our significant customers for the first three and nine months of 2016 and 2015:

 

 

 

Three Months ended
September 30, 2016

 

Three Months ended
September 30, 2015

 

Nine Months ended
September 30, 2016

 

Nine Months ended
September 30, 2015

Number of significant customers

 

 

 

 

Aggregate dollar amount of net sales to significant customers

 

$3.5 million

 

$5.1 million

 

$7.1 million

 

$10.3 million

Percentage of net sales to significant customers

 

39.3% 

 

53.5% 

 

31.6% 

 

46.0% 

 

The Company manufactures syringes in Little Elm, Texas as well as utilizing manufacturers in China.  The Company purchases most of its product components from single suppliers, including needle adhesives and packaging materials.  There are multiple sources of these materials.  The Company obtained roughly 85.1% and 78.2% of its VanishPoint®  syringes in the first nine months of 2016 and 2015, respectively, from its primary Chinese manufacturer.  Purchases from this Chinese manufacturer aggregated 92.7% and 82.4% of VanishPoint®  syringes in the three month periods ended September 30, 2016 and 2015, respectively.  In the event that the Company becomes unable to purchase products from its primary Chinese manufacturer, the Company would need to find an alternate manufacturer for its 0.5mL insulin syringe, its 2mL, 5mL, and 10mL syringes and its autodisable syringe, and increase domestic production for 1mL and 3mL syringes.

 

Revenue recognition

 

Revenue recognition

 

Revenue is recognized for sales when title and risk of ownership passes to the customer, generally upon shipment.  Under certain contracts, revenue is recorded on the basis of sales price to distributors, less contractual pricing allowances.  Contractual pricing allowances consist of: (i) rebates granted to distributors who provide tracking reports which show, among other things, the facility that purchased the products, and (ii) a provision for estimated contractual pricing allowances for products for which the Company has not received tracking reports.  Rebates are recorded when issued and are applied against the customer’s receivable balance.  Distributors receive a rebate for the difference between the Wholesale Acquisition Cost and the appropriate contract price as reflected on a tracking report provided by the distributor to the Company. If product is sold by a distributor to an entity that has no contract, there is a standard rebate (lower than a contracted rebate) given to the distributor.  One of the purposes of the rebate is to encourage distributors to submit tracking reports to the Company. The provision for contractual pricing allowances is reviewed at the end of each quarter and adjusted for changes in levels of products for which there is no tracking report.  Additionally, if it becomes clear that tracking reports will not be provided by individual distributors, the provision is further adjusted.  The estimated contractual allowance is included in Accounts payable in the Balance Sheets and deducted from revenues in the Statements of Operations.  Accounts payable included estimated contractual allowances for $3,998,904 and $3,733,199 as of September 30, 2016 and December 31, 2015, respectively.  The terms and conditions of contractual pricing allowances are governed by contracts between the Company and its distributors.  Revenue for shipments directly to end-users is recognized when title and risk of ownership pass from the Company.  Any product shipped or distributed for evaluation purposes is expensed.

 

Certain distributors have taken rebates to which they are not entitled, such as utilizing a rebate for products not purchased directly from the Company.  Major customers said they have ceased the practices resulting in claiming non-contractual rebates.  Rebates can only be claimed on purchases made directly from the Company. The Company has established a reserve for the collectability of these non-contractual rebate amounts.  The expense for the reserve is recorded in Operating expense, General and administrative.  The reserve for such non-contractual deductions is included in the allowance for doubtful accounts.  There has been no change to the reserve for contractual rebates in the periods currently presented.

 

The Company’s domestic return policy is set forth in its standard Distribution Agreement.  This policy provides that a customer may return incorrect shipments within 10 days following arrival at the distributor’s facility.  In all such cases the distributor must obtain an authorization code from the Company and affix the code to the returned product.  The Company will not accept returned goods without a returned goods authorization number.  The Company may refund the customer’s money or replace the product.

 

The Company’s domestic return policy also generally provides that a customer may return product that is overstocked.  Overstocking returns are limited to two times in each 12-month period up to 1% of distributor’s total purchase of products for the prior 12-month period.  All product overstocks and returns are subject to inspection and acceptance by the Company.

 

The Company’s international distribution agreements generally do not provide for any returns.

 

Income taxes

 

Income taxes

 

The Company evaluates tax positions taken or expected to be taken in a tax return for recognition in the financial statements based on whether it is “more-likely-than-not” that a tax position will be sustained based upon the technical merits of the position.  Measurement of the tax position is based upon the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement.

 

The Company provides for deferred income taxes through utilizing an asset and liability approach for financial accounting and reporting based on the tax effects of differences between the financial statement and tax bases of assets and liabilities, based on enacted rates expected to be in effect when such differences reverse in future periods.  Deferred tax assets are periodically reviewed for realizability.  The Company has established a valuation allowance for its net deferred tax asset as future taxable income cannot be reasonably assured.  Penalties and interest related to income tax are classified as General and administrative expense and Interest expense, respectively, in the Condensed Statements of Operations.

 

Earnings per share

 

Earnings per share

 

The Company computes basic earnings per share (“EPS”) by dividing net earnings for the period (adjusted for any cumulative dividends for the period) by the weighted average number of common shares outstanding during the period.  Diluted EPS includes the determinants of basic EPS and, in addition, reflects the dilutive effect, if any, of the common stock deliverable pursuant to stock options or common stock issuable upon the conversion of convertible preferred stock.  The calculation of diluted EPS excluded 670,338 and 674,042 shares of Common Stock underlying issued and outstanding stock options for the three months and nine months ended September 30, 2016, respectively, as their effect was antidilutive.  The potential dilution, if any, is shown on the following schedule:

 

 

 

Three Months Ended
September 30, 2016

 

 

Three Months Ended
September 30, 2015

 

 

Nine Months Ended
September 30, 2016

 

 

Nine Months Ended
September 30, 2015

 

Net income (loss)

$

(125,304

)

$

(254,826

)

$

(1,721,089

)

$

5,239,459

 

Preferred dividend requirements

 

(176,249

)

 

(227,499

)

 

(528,747

)

 

(682,802

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) applicable to common shareholders after assumed conversions

$

(301,553

)

$

(482,325

)

$

(2,249,836

)

$

4,556,657

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

29,649,874

 

 

27,873,447

 

 

29,252,652

 

 

27,759,333

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common and common equivalent shares outstanding – assuming dilution

 

29,649,874

 

 

27,873,447

 

 

29,252,652

 

 

29,436,008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share

$

(0.01

)

$

(0.02

)

$

(0.08

)

$

0.16

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share

$

(0.01

)

$

(0.02

)

$

(0.08

)

$

0.15

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shipping and handling costs

 

Shipping and handling costs

 

The Company classifies shipping and handling costs as part of Cost of sales in the Condensed Statements of Operations.

 

Research and development costs

 

Research and development costs

 

Research and development costs are expensed as incurred.

 

Share-based compensation

 

Share-based compensation

 

The Company’s share-based payments are accounted for using the fair value method.  The Company records share-based compensation expense on a straight-line basis over the requisite service period.

 

Recent Pronouncements

 

Recent Pronouncements

 

In March 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”.  This ASU addresses several aspects of the accounting for share-based compensation transactions including: (a) income tax consequences when awards vest or are settled, (b) classification of awards as either equity or liabilities, (c) a policy election to account for forfeitures as they occur rather than on an estimated basis and (d) classification of excess tax impacts on the statement of cash flows.  The updated guidance is effective for the Company’s quarter ending March 31, 2017, with early adoption permitted.  The Company is currently assessing the impact that adoption of this guidance will have on its financial statements and related disclosures.

 

In February 2016, the FASB issued ASU No. 2016-02, Leases (topic 842). Under the new ASU, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance lessor accounting is largely unchanged. The new lease guidance simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. This ASU is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of this standard.

 

In July 2015, the FASB issued ASU No. 2015-11, “Inventory (Topic 330) Simplifying the Measurement of Inventory,” which is part of the FASB’s Simplification Initiative.  Inventory, including inventory measured at average cost, would be valued at the lower of cost or net realizable value.  Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.  ASU 2015-11 is effective for the Company’s annual periods and interim periods within those annual periods beginning January 1, 2017.  Amendments in this ASU should be applied prospectively with earlier application permitted at the beginning of an interim or annual reporting period.  The Company is currently assessing the potential impact of this ASU on its financial statements.

 

In May 2014, FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers”, which provides guidance for revenue recognition.  This ASU’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects consideration to which the company expects to be entitled in exchange for those goods or services.  This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract.  ASU No. 2014-09 allows for either full retrospective or modified retrospective adoption.  In July 2015, the FASB voted to delay the effective date of this ASU by one year.  The ASU will now be effective commencing with the Company’s quarter ending March 31, 2018.  Early adoption of this ASU is allowed no sooner than the original effective date.  The Company is currently assessing the potential impact of this ASU on its financial statements.

 

XML 27 R17.htm IDEA: XBRL DOCUMENT v3.5.0.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of estimated useful lives of property, plant and equipment

 

Production equipment

3 to 13 years

Office furniture and equipment

3 to 10 years

Buildings

39 years

Building improvements

15 years

Automobiles

7 years

 

Schedule of significant customers

 

 

 

 

Three Months ended
September 30, 2016

 

Three Months ended
September 30, 2015

 

Nine Months ended
September 30, 2016

 

Nine Months ended
September 30, 2015

Number of significant customers

 

 

 

 

Aggregate dollar amount of net sales to significant customers

 

$3.5 million

 

$5.1 million

 

$7.1 million

 

$10.3 million

Percentage of net sales to significant customers

 

39.3% 

 

53.5% 

 

31.6% 

 

46.0% 

 

Schedule of earnings per share

 

 

 

 

Three Months Ended
September 30, 2016

 

 

Three Months Ended
September 30, 2015

 

 

Nine Months Ended
September 30, 2016

 

 

Nine Months Ended
September 30, 2015

 

Net income (loss)

$

(125,304

)

$

(254,826

)

$

(1,721,089

)

$

5,239,459

 

Preferred dividend requirements

 

(176,249

)

 

(227,499

)

 

(528,747

)

 

(682,802

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) applicable to common shareholders after assumed conversions

$

(301,553

)

$

(482,325

)

$

(2,249,836

)

$

4,556,657

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

29,649,874

 

 

27,873,447

 

 

29,252,652

 

 

27,759,333

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common and common equivalent shares outstanding – assuming dilution

 

29,649,874

 

 

27,873,447

 

 

29,252,652

 

 

29,436,008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share

$

(0.01

)

$

(0.02

)

$

(0.08

)

$

0.16

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share

$

(0.01

)

$

(0.02

)

$

(0.08

)

$

0.15

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

XML 28 R18.htm IDEA: XBRL DOCUMENT v3.5.0.2
INVENTORIES (Tables)
9 Months Ended
Sep. 30, 2016
INVENTORIES  
Schedule of inventories

 

 

 

September 30, 2016

 

 

December 31, 2015

 

Raw materials

$

1,614,476

 

$

1,664,241

 

Finished goods

 

6,448,066

 

 

5,313,778

 

 

 

 

 

 

 

 

 

 

8,062,542

 

 

6,978,019

 

Inventory reserve

 

(857,818

)

 

(681,394

)

 

 

 

 

 

 

 

 

$

7,204,724

 

$

6,296,625

 

 

 

 

 

 

 

 

 

XML 29 R19.htm IDEA: XBRL DOCUMENT v3.5.0.2
OTHER ACCRUED LIABILITIES (Tables)
9 Months Ended
Sep. 30, 2016
OTHER ACCRUED LIABILITIES  
Schedule of other accrued liabilities

 

 

 

September 30, 2016

 

 

December 31, 2015

 

Prepayments from customers

$

357,396 

 

$

395,396 

 

Accrued property taxes

 

327,602 

 

 

 

Accrued professional fees

 

213,952 

 

 

274,252 

 

Other accrued expenses

 

27,093 

 

 

20,887 

 

 

 

 

 

 

 

 

 

$

926,043 

 

$

690,535 

 

 

 

 

 

 

 

 

 

XML 30 R20.htm IDEA: XBRL DOCUMENT v3.5.0.2
BUSINESS SEGMENTS (Tables)
9 Months Ended
Sep. 30, 2016
BUSINESS SEGMENTS  
Schedule of sales and long-lived assets by geographical areas

 

 

 

 

Three Months Ended
September 30, 2016

 

Three Months Ended
September 30, 2015

 

Nine Months Ended
September 30, 2016

 

Nine Months Ended
September 30, 2015

 

U.S. sales

$

7,303,015 

$

6,152,873 

$

19,750,504 

$

17,423,389 

 

North and South America sales (excluding U.S.)

 

1,406,720 

 

3,065,507 

 

2,058,594 

 

4,345,044 

 

Other international sales

 

130,399 

 

264,486 

 

528,071 

 

608,479 

 

 

 

 

 

 

 

 

 

 

 

Total sales

$

8,840,134 

$

9,482,866 

$

22,337,169 

$

22,376,912 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2016

 

December 31, 2015

 

 

 

 

 

 

 

Long-lived assets

 

 

 

 

 

U.S.

 

$

12,304,416 

 

$

11,282,192 

 

International

 

$

167,776 

 

$

185,869 

 

 

XML 31 R21.htm IDEA: XBRL DOCUMENT v3.5.0.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment (Details)
9 Months Ended
Sep. 30, 2016
item
Accounts receivable  
Number of products consigned to customers 0
Maximum  
Intangible assets  
Useful lives of intellectual property 17 years
Production equipment | Minimum  
Property, plant, and equipment  
Useful lives 3 years
Production equipment | Maximum  
Property, plant, and equipment  
Useful lives 13 years
Office furniture and equipment | Minimum  
Property, plant, and equipment  
Useful lives 3 years
Office furniture and equipment | Maximum  
Property, plant, and equipment  
Useful lives 10 years
Buildings  
Property, plant, and equipment  
Useful lives 39 years
Building improvements  
Property, plant, and equipment  
Useful lives 15 years
Automobiles  
Property, plant, and equipment  
Useful lives 7 years
XML 32 R22.htm IDEA: XBRL DOCUMENT v3.5.0.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Concentration of Risk (Details)
3 Months Ended 9 Months Ended
Sep. 30, 2016
USD ($)
customer
Sep. 30, 2015
USD ($)
customer
Sep. 30, 2016
USD ($)
customer
item
Sep. 30, 2015
USD ($)
customer
Dec. 31, 2015
USD ($)
Concentration risks          
Number of significant customers | customer 2 2 1 2  
Aggregate dollar amount of net sales to significant customers $ 8,840,134 $ 9,482,866 $ 22,337,169 $ 22,376,912  
Revenue recognition          
Estimated contractual allowance 3,998,904   3,998,904   $ 3,733,199
Change to reserve regarding non-contractual rebates     $ 0    
Period for return of incorrect shipments     10 days    
Number of times overstocking returns are limited | item     2    
Period for return of product due to overstock     12 months    
Maximum percentage of distributor's total purchase for the prior 12-month period     1.00%    
Sales | Customer Concentration Risk          
Concentration risks          
Aggregate dollar amount of net sales to significant customers $ 3,500,000 $ 5,100,000 $ 7,100,000 $ 10,300,000  
Percentage of net sales to significant customers (as a percent) 39.30% 53.50% 31.60% 46.00%  
Syringes | Supplier Concentration Risk          
Concentration risks          
Percentage of net sales to significant customers (as a percent) 92.70% 82.40% 85.10% 78.20%  
XML 33 R23.htm IDEA: XBRL DOCUMENT v3.5.0.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Earnings Per Share (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Earnings per share        
Stock options excluded from calculation of diluted EPS 670,338   674,042  
Net income (loss) $ (125,304) $ (254,826) $ (1,721,089) $ 5,239,459
Preferred dividend requirements (176,249) (227,499) (528,747) (682,802)
Earnings (loss) applicable to common shareholders $ (301,553) $ (482,325) $ (2,249,836) $ 4,556,657
Average common shares outstanding 29,649,874 27,873,447 29,252,652 27,759,333
Average common and common equivalent shares outstanding - assuming dilution 29,649,874 27,873,447 29,252,652 29,436,008
Basic earnings (loss) per share (in dollars per share) $ (0.01) $ (0.02) $ (0.08) $ 0.16
Diluted earnings (loss) per share (in dollars per share) $ (0.01) $ (0.02) $ (0.08) $ 0.15
XML 34 R24.htm IDEA: XBRL DOCUMENT v3.5.0.2
INVENTORIES (Details) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
INVENTORIES    
Raw materials $ 1,614,476 $ 1,664,241
Finished goods 6,448,066 5,313,778
Inventory, gross 8,062,542 6,978,019
Inventory reserve (857,818) (681,394)
Inventory, net $ 7,204,724 $ 6,296,625
XML 35 R25.htm IDEA: XBRL DOCUMENT v3.5.0.2
INCOME TAXES (Details)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
INCOME TAXES        
Effective tax rate (as a percent) (0.40%) (0.80%) (0.10%) 0.10%
XML 36 R26.htm IDEA: XBRL DOCUMENT v3.5.0.2
OTHER ACCRUED LIABILITIES (Details) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
OTHER ACCRUED LIABILITIES    
Prepayments from customers $ 357,396 $ 395,396
Accrued property taxes 327,602  
Accrued professional fees 213,952 274,252
Other accrued expenses 27,093 20,887
Other accrued liabilities $ 926,043 $ 690,535
XML 37 R27.htm IDEA: XBRL DOCUMENT v3.5.0.2
COMMITMENTS AND CONTINGENCIES (Details)
9 Months Ended
Jan. 15, 2015
USD ($)
Sep. 09, 2013
USD ($)
Sep. 30, 2016
Sep. 30, 2007
item
Becton Dickinson and Company Case        
COMMITMENTS AND CONTINGENCIES        
Value of damages awarded $ 340,524,042 $ 113,508,014    
Length of time required to post corrected product information on its website     3 years  
Length of time required to modify its advertising messages     3 years  
Attorney fees 11,722,823      
Litigation costs recoverable $ 295,000      
BD and MDC Investment Holdings Inc Case        
COMMITMENTS AND CONTINGENCIES        
Number of U.S. patents infringed upon | item       2
XML 38 R28.htm IDEA: XBRL DOCUMENT v3.5.0.2
BUSINESS SEGMENTS (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Dec. 31, 2015
Sales by geographical areas          
Total sales $ 8,840,134 $ 9,482,866 $ 22,337,169 $ 22,376,912  
U.S.          
Sales by geographical areas          
Total sales 7,303,015 6,152,873 19,750,504 17,423,389  
Long-lived assets          
Long-Lived assets 12,304,416   12,304,416   $ 11,282,192
North and South America sales (excluding U.S.)          
Sales by geographical areas          
Total sales 1,406,720 3,065,507 2,058,594 4,345,044  
Other international sales          
Sales by geographical areas          
Total sales 130,399 $ 264,486 528,071 $ 608,479  
International          
Long-lived assets          
Long-Lived assets $ 167,776   $ 167,776   $ 185,869
XML 39 R29.htm IDEA: XBRL DOCUMENT v3.5.0.2
DIVIDENDS (Details) - USD ($)
9 Months Ended
Oct. 20, 2016
Jul. 28, 2016
Apr. 21, 2016
Feb. 01, 2016
Sep. 30, 2016
Sep. 30, 2015
Dividends            
Preferred dividends declared         $ 55,113 $ 56,363
Series I, Class B            
Dividends            
Preferred dividends declared $ 12,313 $ 12,313 $ 12,313 $ 12,313    
Series II, Class B            
Dividends            
Preferred dividends declared $ 42,800 $ 42,800 $ 42,800 $ 43,101    
XML 40 R30.htm IDEA: XBRL DOCUMENT v3.5.0.2
STOCK OPTIONS (Details) - Employee Stock Option
Sep. 09, 2016
$ / shares
shares
STOCK OPTIONS  
Exercise price (in dollars per share) $ (2.75)
Term of option plan 10 years
Vesting period 1 year
Exercisable (in shares) | shares 500,400
Exercisable (in dollars per share) $ 2.03
Risk-free rate (as a percent) 1.61%
Volatility factor (as a percent) 67.60%
XML 41 R31.htm IDEA: XBRL DOCUMENT v3.5.0.2
SUBSEQUENT EVENTS (Details) - Employee Stock Option - USD ($)
$ in Millions
Nov. 01, 2016
Sep. 09, 2016
SUBSEQUENT EVENTS    
Risk-free rate (as a percent)   1.61%
Volatility factor (as a percent)   67.60%
Subsequent events | Chief Executive Officer    
SUBSEQUENT EVENTS    
Granted (in shares) 3,000,000  
Risk-free rate (as a percent) 1.84%  
Volatility factor (as a percent) 66.90%  
Fair value of options granted $ 5.9  
EXCEL 42 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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how.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 44 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 46 FilingSummary.xml IDEA: XBRL DOCUMENT 3.5.0.2 html 66 153 1 false 25 0 false 6 false false R1.htm 00090 - Document - Document and Entity Information Sheet http://www.vanishpoint.com/role/DocumentDocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00100 - Statement - CONDENSED BALANCE SHEETS Sheet http://www.vanishpoint.com/role/StatementCondensedBalanceSheets CONDENSED BALANCE SHEETS Statements 2 false false R3.htm 00105 - Statement - CONDENSED BALANCE SHEETS (Parenthetical) Sheet http://www.vanishpoint.com/role/StatementCondensedBalanceSheetsParenthetical CONDENSED BALANCE SHEETS (Parenthetical) Statements 3 false false R4.htm 00200 - Statement - CONDENSED STATEMENTS OF OPERATIONS Sheet http://www.vanishpoint.com/role/StatementCondensedStatementsOfOperations CONDENSED STATEMENTS OF OPERATIONS Statements 4 false false R5.htm 00300 - Statement - CONDENSED STATEMENTS OF CASH FLOWS Sheet http://www.vanishpoint.com/role/StatementCondensedStatementsOfCashFlows CONDENSED STATEMENTS OF CASH FLOWS Statements 5 false false R6.htm 10101 - Disclosure - BUSINESS OF THE COMPANY AND BASIS OF PRESENTATION Sheet http://www.vanishpoint.com/role/DisclosureBusinessOfCompanyAndBasisOfPresentation BUSINESS OF THE COMPANY AND BASIS OF PRESENTATION Notes 6 false false R7.htm 10201 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Sheet http://www.vanishpoint.com/role/DisclosureSummaryOfSignificantAccountingPolicies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Notes 7 false false R8.htm 10301 - Disclosure - INVENTORIES Sheet http://www.vanishpoint.com/role/DisclosureInventories INVENTORIES Notes 8 false false R9.htm 10401 - Disclosure - INCOME TAXES Sheet http://www.vanishpoint.com/role/DisclosureIncomeTaxes INCOME TAXES Notes 9 false false R10.htm 10501 - Disclosure - OTHER ACCRUED LIABILITIES Sheet http://www.vanishpoint.com/role/DisclosureOtherAccruedLiabilities OTHER ACCRUED LIABILITIES Notes 10 false false R11.htm 10601 - Disclosure - COMMITMENTS AND CONTINGENCIES Sheet http://www.vanishpoint.com/role/DisclosureCommitmentsAndContingencies COMMITMENTS AND CONTINGENCIES Notes 11 false false R12.htm 10701 - Disclosure - BUSINESS SEGMENTS Sheet http://www.vanishpoint.com/role/DisclosureBusinessSegments BUSINESS SEGMENTS Notes 12 false false R13.htm 10801 - Disclosure - DIVIDENDS Sheet http://www.vanishpoint.com/role/DisclosureDividends DIVIDENDS Notes 13 false false R14.htm 10901 - Disclosure - STOCK OPTIONS Sheet http://www.vanishpoint.com/role/DisclosureStockOptions STOCK OPTIONS Notes 14 false false R15.htm 11001 - Disclosure - SUBSEQUENT EVENTS Sheet http://www.vanishpoint.com/role/DisclosureSubsequentEvents SUBSEQUENT EVENTS Notes 15 false false R16.htm 20202 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) Sheet http://www.vanishpoint.com/role/DisclosureSummaryOfSignificantAccountingPoliciesPolicies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) Policies 16 false false R17.htm 30203 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) Sheet http://www.vanishpoint.com/role/DisclosureSummaryOfSignificantAccountingPoliciesTables SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) Tables http://www.vanishpoint.com/role/DisclosureSummaryOfSignificantAccountingPolicies 17 false false R18.htm 30303 - Disclosure - INVENTORIES (Tables) Sheet http://www.vanishpoint.com/role/DisclosureInventoriesTables INVENTORIES (Tables) Tables http://www.vanishpoint.com/role/DisclosureInventories 18 false false R19.htm 30503 - Disclosure - OTHER ACCRUED LIABILITIES (Tables) Sheet http://www.vanishpoint.com/role/DisclosureOtherAccruedLiabilitiesTables OTHER ACCRUED LIABILITIES (Tables) Tables http://www.vanishpoint.com/role/DisclosureOtherAccruedLiabilities 19 false false R20.htm 30703 - Disclosure - BUSINESS SEGMENTS (Tables) Sheet http://www.vanishpoint.com/role/DisclosureBusinessSegmentsTables BUSINESS SEGMENTS (Tables) Tables http://www.vanishpoint.com/role/DisclosureBusinessSegments 20 false false R21.htm 40201 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment (Details) Sheet http://www.vanishpoint.com/role/DisclosureSummaryOfSignificantAccountingPoliciesPropertyPlantAndEquipmentDetails SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment (Details) Details 21 false false R22.htm 40202 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Concentration of Risk (Details) Sheet http://www.vanishpoint.com/role/DisclosureSummaryOfSignificantAccountingPoliciesConcentrationOfRiskDetails SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Concentration of Risk (Details) Details 22 false false R23.htm 40203 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Earnings Per Share (Details) Sheet http://www.vanishpoint.com/role/DisclosureSummaryOfSignificantAccountingPoliciesEarningsPerShareDetails SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Earnings Per Share (Details) Details 23 false false R24.htm 40301 - Disclosure - INVENTORIES (Details) Sheet http://www.vanishpoint.com/role/DisclosureInventoriesDetails INVENTORIES (Details) Details http://www.vanishpoint.com/role/DisclosureInventoriesTables 24 false false R25.htm 40401 - Disclosure - INCOME TAXES (Details) Sheet http://www.vanishpoint.com/role/DisclosureIncomeTaxesDetails INCOME TAXES (Details) Details http://www.vanishpoint.com/role/DisclosureIncomeTaxes 25 false false R26.htm 40501 - Disclosure - OTHER ACCRUED LIABILITIES (Details) Sheet http://www.vanishpoint.com/role/DisclosureOtherAccruedLiabilitiesDetails OTHER ACCRUED LIABILITIES (Details) Details http://www.vanishpoint.com/role/DisclosureOtherAccruedLiabilitiesTables 26 false false R27.htm 40601 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details) Sheet http://www.vanishpoint.com/role/DisclosureCommitmentsAndContingenciesDetails COMMITMENTS AND CONTINGENCIES (Details) Details http://www.vanishpoint.com/role/DisclosureCommitmentsAndContingencies 27 false false R28.htm 40701 - Disclosure - BUSINESS SEGMENTS (Details) Sheet http://www.vanishpoint.com/role/DisclosureBusinessSegmentsDetails BUSINESS SEGMENTS (Details) Details http://www.vanishpoint.com/role/DisclosureBusinessSegmentsTables 28 false false R29.htm 40801 - Disclosure - DIVIDENDS (Details) Sheet http://www.vanishpoint.com/role/DisclosureDividendsDetails DIVIDENDS (Details) Details http://www.vanishpoint.com/role/DisclosureDividends 29 false false R30.htm 40901 - Disclosure - STOCK OPTIONS (Details) Sheet http://www.vanishpoint.com/role/DisclosureStockOptionsDetails STOCK OPTIONS (Details) Details http://www.vanishpoint.com/role/DisclosureStockOptions 30 false false R31.htm 41001 - Disclosure - SUBSEQUENT EVENTS (Details) Sheet http://www.vanishpoint.com/role/DisclosureSubsequentEventsDetails SUBSEQUENT EVENTS (Details) Details http://www.vanishpoint.com/role/DisclosureSubsequentEvents 31 false false All Reports Book All Reports rvp-20160930.xml rvp-20160930.xsd rvp-20160930_cal.xml rvp-20160930_def.xml rvp-20160930_lab.xml rvp-20160930_pre.xml true true ZIP 48 0001104659-16-156770-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001104659-16-156770-xbrl.zip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�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end