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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended
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Mar. 31, 2014
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 March 31, 2014 |  | Three Months ended March 31, 2013 |
Number of significant customers |  | 3 |  | 1 |
Aggregate dollar amount of net sales to significant customers |  | $3.0 million |  | $1.4 million |
Percentage of net sales to significant customers |  | 49.1% |  | 19.2% |
Schedule of earnings per share |
|  | Three Months Ended March 31, 2014 |  |  | Three Months Ended March 31, 2013 |
Net loss | $ | (2,038,392 | ) | $ | (1,409,533 | )
Preferred dividend requirements |  | (228,999 | ) |  | (229,068 | )
Loss available to common shareholders after assumed conversions | $ | (2,267,391 | ) | $ | (1,638,601 | )
Average common shares outstanding |  | 27,258,689 |  |  | 27,238,495 |
Average common and common equivalent shares outstanding - assuming dilution |  | 27,258,689 |  |  | 27,238,495 |
Basic loss per share | $ | (0.08 | ) | $ | (0.06 | )
Diluted loss per share | $ | (0.08 | ) | $ | (0.06 | )

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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- Definition Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6327-108592 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6404-108592 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13531-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6351-108592 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13537-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6442-108592 + Details
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