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SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2019

SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Disaggregated Revenue

In the following table, revenue for the years ended December 31, 2019, 2018 and 2017 is disaggregated by geographic areas as follows:

		2019				2018 Restated				2017 Restated
United States		$	65,745,750			$	72,563,038			$	71,473,430
Canada			6,513,631				7,095,697				7,194,116
All other countries			2,658,779				3,544,834				3,753,049
Net sales		$	74,918,160			$	83,203,569			$	82,420,595

Computation of Basic and Diluted Earnings Per Share

Diluted EPS is computed using the treasury stock method.

		Years Ended December 31,
		2019 (1)				2018 Restated				2017 Restated
Numerator:
Net income (loss)		$	(1,903,781	)		$	4,398,365			$	2,478,444
Denominator:
Basic weighted-average common shares ouststanding			8,973,246				9,185,203				9,242,092
Dilutive effect of service-based restricted stock awards granted to Board of Directors under the Plan			-				-				177
Dilutive effect of service-based restricted stock awards granted to employees under the Plan			-				19,805				3,268
Diluted weighted-average common shares outstanding			8,973,246				9,205,008				9,245,537

(1)  For the year ended December 31, 2019, there were 9,203 shares excluded from the diluted EPS calculation because the impact of their assumed vesting would be anti-dilutive due to a net loss in that period.

Other Intangible Assets

Our intangible assets, excluding goodwill, and related accumulated amortization consisted of the following:

	As of December 31, 2019
	Gross				Accumulated Amortization				Net
Trademarks/copyrights		$	554,369			$	547,369			$	7,000
TOTAL		$	554,369			$	547,369			$	7,000

	As of December 31, 2018
	Gross				Accumulated Amortization				Net
Trademarks/copyrights		$	554,369			$	546,702			$	7,667
Non-compete agreements			153,000				144,167				8,833
TOTAL		$	707,369			$	690,869			$	16,500

	As of December 31, 2017
	Gross				Accumulated Amortization				Net
Trademarks/copyrights		$	554,369			$	545,980			$	8,389
Non-compete agreements			153,000				142,167				10,833
TOTAL		$	707,369			$	688,147			$	19,222

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Section 50
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