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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

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		$	—