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RESTATEMENT OF FINANCIAL STATEMENTS (Tables)

9 Months Ended

Sep. 30, 2015

RESTATEMENT OF FINANCIAL STATEMENTS

Schedule of restatement corrections

		As of June 30, 2015
Condensed Balance Sheets		Previously Reported			Adjustments			As Restated
Inventories, net	$	5,504,764		$	596,000		$	6,100,764
Total current assets	$	30,670,892		$	596,000		$	31,266,892
Total assets	$	42,053,755		$	596,000		$	42,649,755
Retained deficit	$	(27,437,834	)	$	596,000		$	(26,841,834	)
Total stockholders’ equity	$	31,764,545		$	596,000		$	32,360,545
Total liabilities and stockholders’ equity	$	42,053,755		$	596,000		$	42,649,755
		For the Three Months Ended June 30, 2015
Condensed Statements of Operations		Previously Reported			Adjustments			As Restated
Cost of manufactured product	$	4,152,282		$	(596,000	)	$	3,556,282
Total cost of sales	$	4,710,241		$	(596,000	)	$	4,114,241
Gross profit	$	2,005,229		$	596,000		$	2,601,229
Loss from operations	$	(1,836,322	)	$	596,000		$	(1,240,322	)
Net income (loss) before income taxes	$	5,844,675		$	596,000		$	6,440,675
Net income (loss)	$	5,842,630		$	596,000		$	6,438,630
Earnings (loss) applicable to common shareholders	$	5,615,076		$	596,000		$	6,211,076
Basic earnings (loss) per share	$	0.20					$	0.22
Diluted earnings (loss) per share	$	0.19					$	0.21
		For the Six Months Ended June 30, 2015
Condensed Statements of Operations		Previously Reported			Adjustments			As Restated
Cost of manufactured product	$	7,414,289		$	(596,000	)	$	6,818,289
Total cost of sales	$	8,490,530		$	(596,000	)	$	7,894,530
Gross profit	$	4,403,516		$	596,000		$	4,999,516
Loss from operations	$	(2,731,419	)	$	596,000		$	(2,135,419	)
Net income (loss) before income taxes	$	4,902,374		$	596,000		$	5,498,374

		For the Six Months Ended June 30, 2015
Condensed Statements of Operations		Previously Reported			Adjustments			As Restated
Net income (loss)	$	4,898,285		$	596,000		$	5,494,285
Earnings (loss) applicable to common shareholders	$	4,442,982		$	596,000		$	5,038,982
Basic earnings (loss) per share	$	0.16					$	0.18
Diluted earnings (loss) per share	$	0.15					$	0.17
		For the Six Months Ended June 30, 2015
Condensed Statements of Cash Flows		Previously Reported			Adjustments			As Restated
Net income (loss)	$	4,898,285		$	596,000		$	5,494,285
Inventories	$	(841,216	)	$	(596,000	)	$	(1,437,216	)

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Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 250



-SubTopic 10



-Section 50



-Paragraph 9



-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22663-107794



Reference 2: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 250



-SubTopic 10



-Section 50



-Paragraph 7



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Reference 3: http://www.xbrl.org/2003/role/presentationRef



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-Name Accounting Standards Codification



-Topic 250



-SubTopic 10



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