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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2017
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
Schedule of significant customers |
|  | Years Ended December 31, |
|  | 2017 |  | 2016 |  | 2015 |
Number of significant customers |  | 2 |  | 1 |  | 2 |
Aggregate dollar amount of net sales to significant customers |  | $ | 14.0 million |  | $ | 9.4 million |  | $ | 13.5 million |
Percentage of net sales to significant customers |  | 40.5 | % | 31.4 | % | 45.7 | %
Schedule of earnings per share |
|  | Years Ended December 31, |
|  | 2017 |  | 2016 |  | 2015 |
Net income (loss) |  | $ | (3,736,038 | ) | $ | (3,694,907 | ) | $ | 4,314,318 |
Preferred dividend requirements |  | (704,996 | ) | (704,996 | ) | (709,351 | )
Deemed capital contribution on extinguishment of preferred stock |  | — |  | — |  | 2,305,678 |
Income (loss) applicable to common shareholders |  | $ | (4,441,034 | ) | $ | (4,399,903 | ) | $ | 5,910,645 |
Weighted average common shares outstanding |  | 31,958,121 |  | 29,354,437 |  | 27,822,593 |
Weighted average common and common equivalent shares outstanding - assuming dilution |  | 31,958,121 |  | 29,354,437 |  | 29,481,294 |
Basic earnings (loss) per share |  | $ | (0.14 | ) | $ | (0.15 | ) | $ | 0.21 |
Diluted earnings (loss) per share |  | $ | (0.14 | ) | $ | (0.15 | ) | $ | 0.20 |
Schedule of share-based compensation costs |
|  | Years Ended December 31, |
|  | 2017 |  | 2016 |  | 2015 |
Cost of sales |  | $ | 272,811 |  | $ | 141,782 |  | $ | — |
Sales and marketing |  | 143,255 |  | 77,583 |  | — |
Research and development |  | 45,174 |  | 23,623 |  | — |
General and administrative |  | 210,983 |  | 144,738 |  | — |
|  | $ | 672,223 |  | $ | 387,726 |  | $ | — |

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