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PROPERTY AND EQUIPMENT (Tables)
12 Months Ended
Dec. 31, 2015
PROPERTY AND EQUIPMENT  
Schedule of major classes of property and equipment, stated at cost

 

                                                                                                                                                                                    

 

 

2015

 

2014

 

Leasehold Improvements

 

$

682,992

 

$

581,990

 

Machinery and Equipment

 

 

7,042,836

 

 

6,635,380

 

Information Technology & Office Equipment

 

 

2,273,289

 

 

2,163,945

 

Laboratory Equipment

 

 

668,607

 

 

594,946

 

Transportation Equipment

 

 

273,109

 

 

319,209

 

​  

​  

​  

​  

 

 

 

10,940,833

 

 

10,295,470

 

Accumulated Depreciation

 

 

(9,294,265

)

 

(8,798,558

)

​  

​  

​  

​  

Net Property and Equipment

 

$

1,646,568

 

$

1,496,912

 

​  

​  

​  

​  

​  

​  

​  

​  

 

Summary of depreciation expense

 

                                                                                                                                                                                    

 

 

2015

 

2014

 

2013

 

Depreciation expense

 

$

655,265 

 

$

829,292 

 

$

840,382