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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2015

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

			Six Months ended June 30, 2015			Six Months ended June 30, 2014			Three Months ended June 30, 2015			Three Months ended June 30, 2014
Number of significant customers			2			1			2			1
Aggregate dollar amount of net sales to significant customers			$5.7 million			$3.8 million			$3.0 million			$2.1 million
Percentage of net sales to significant customers			43.9%			29.7%			44.8%			30.6%

Schedule of earnings per share

			Three Months Ended June 30, 2015			Three Months Ended June 30, 2014			Six Months Ended June 30, 2015			Six Months Ended June 30, 2014
Net income (loss)		$	5,842,630		$	(1,389,823	)	$	4,898,285		$	(3,428,215	)
Preferred dividend requirements			(227,554	)		(228,999	)		(455,303	)		(457,998	)

Earnings (loss) applicable to common shareholders after assumed conversions		$	5,615,076		$	(1,618,822	)	$	4,442,982		$	(3,886,213	)

Average common shares outstanding			27,741,052			27,332,483			27,702,276			27,295,586

Average common and common equivalent shares outstanding - assuming dilution			29,432,468			27,332,483			29,411,606			27,295,586

Basic earnings (loss) per share		$	0.20		$	(0.06	)	$	0.16		$	(0.14	)

Diluted earnings (loss) per share		$	0.19		$	(0.06	)	$	0.15		$	(0.14	)