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Restatement Of Consolidated Financial Statements | 12 Months Ended
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Dec. 31, 2012
Accounting Changes and Error Corrections [Abstract] |
Restatement Of Consolidated Financial Statements | Note 14 – RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS Management concluded that the consolidated statements of income for the year-to-date periods ended March 31, 2012, June 30, 2012 and September 30, 2012, including comparatively presented periods, that were previously included in our Quarterly Reports on Forms 10-Q filed in 2012 should be restated as a result of erroneous presentation of production activity within general and administrative operating expenses. These restatements result in increases in cost of goods sold and corresponding decreases in general and administrative operating expenses. These restatements had no impact on our previously reported net income, condensed consolidated balance sheets or consolidated statements of cash flows. As detailed in the tables below, these restatements impact the following consolidated statement of income line items
|  | (Unaudited) Three Months Ended March 31, 2012 |  |  | (Unaudited) Six Months Ended June 30, 2012 |  |  | (Unaudited) Nine Months Ended September 30, 2012 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |
Income Statement |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Sales |  | $ | 19,397,197 |  |  | $ | — |  |  | $ | 19,397,197 |  |  | $ | 39,950,578 |  |  | $ | — |  |  | $ | 39,950,578 |  |  | $ | 60,570,311 |  |  | $ | — |  |  | $ | 60,570,311 |
COGS |  | $ | 12,637,386 |  |  | $ | 668,381 |  |  | $ | 13,305,767 |  |  | $ | 25,153,336 |  |  | $ | 1,088,149 |  |  | $ | 26,241,485 |  |  | $ | 38,299,212 |  |  | $ | 1,692,406 |  |  | $ | 39,991,618 |
Gross Profit |  | $ | 6,759,811 |  |  | $ | (668,381 | ) |  | $ | 6,091,430 |  |  | $ | 14,797,242 |  |  | $ | (1,088,149 | ) |  | $ | 13,709,093 |  |  | $ | 22,271,099 |  |  | $ | (1,692,406 | ) |  | $ | 20,578,693 |
Operating Expenses |  | $ | 4,887,281 |  |  | $ | (668,381 | ) |  | $ | 4,218,900 |  |  | $ | 9,797,959 |  |  | $ | (1,088,149 | ) |  | $ | 8,709,810 |  |  | $ | 15,194,607 |  |  | $ | (1,692,406 | ) |  | $ | 13,502,201 |
Income from Operations |  | $ | 1,872,530 |  |  | $ | — |  |  | $ | 1,872,530 |  |  | $ | 4,999,283 |  |  | $ | — |  |  | $ | 4,999,283 |  |  | $ | 7,076,492 |  |  | $ | — |  |  | $ | 7,076,492 |
|  | (Unaudited) Three Months Ended March 31, 2011 |  |  | (Unaudited) Six Months Ended June 30, 2011 |  |  | (Unaudited) Nine Months Ended September 30, 2011 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |
Income Statement |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Sales |  | $ | 17,303,903 |  |  | $ | — |  |  | $ | 17,303,903 |  |  | $ | 35,501,821 |  |  | $ | — |  |  | $ | 35,501,821 |  |  | $ | 53,203,425 |  |  | $ | — |  |  | $ | 53,203,425 |
COGS |  | $ | 9,722,230 |  |  | $ | 532,856 |  |  | $ | 10,255,086 |  |  | $ | 22,478,463 |  |  | $ | 990,620 |  |  | $ | 23,469,083 |  |  | $ | 34,047,699 |  |  | $ | 1,581,339 |  |  | $ | 35,629,038 |
Gross Profit |  | $ | 7,581,673 |  |  | $ | (532,856 | ) |  | $ | 7,048,817 |  |  | $ | 13,023,358 |  |  | $ | (990,620 | ) |  | $ | 12,032,738 |  |  | $ | 19,155,726 |  |  | $ | (1,581,339 | ) |  | $ | 17,574,387 |
Operating Expenses |  | $ | 4,316,051 |  |  | $ | (532,856 | ) |  | $ | 3,783,195 |  |  | $ | 9,057,522 |  |  | $ | (990,620 | ) |  | $ | 8,066,902 |  |  | $ | 13,622,185 |  |  | $ | (1,581,339 | ) |  | $ | 12,040,846 |
Income from Operations |  | $ | 3,265,622 |  |  | $ | — |  |  | $ | 3,265,622 |  |  | $ | 3,965,836 |  |  | $ | — |  |  | $ | 3,965,836 |  |  | $ | 5,533,541 |  |  | $ | — |  |  | $ | 5,533,541 |
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- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22499-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 1.N.Q3) -URI http://asc.fasb.org/extlink&oid=6369664&loc=d3e30840-122693 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22644-107794 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 1 -Section N Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 45 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=6368906&loc=d3e21914-107793 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22595-107794 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 154 -Paragraph 17, 22, 25, 26 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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