QUARTERLY RESULTS OF OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2015

QUARTERLY RESULTS OF OPERATIONS

Summary of the quarterly results of operations

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
2015
Sales	$	13,883,961		$	12,955,576		$	14,378,528		$	14,132,637
Cost of Sales		11,571,618			10,889,619			11,875,122			12,076,489
Gross Profit		2,312,343			2,065,957			2,503,406			2,056,148
Selling, General and Administrative		5,325,761			3,835,596			3,827,904			6,089,606
Research and Product Development		799,591			885,259			1,246,727			2,029,736
Operating Income (Loss)		(3,813,009	)		(2,654,898	)		(2,571,225	)		(6,063,194	)
Interest and Investment Income, net		113,815			118,151			156,672			293,238
Interest Expense		—			—			—			—
Income (Loss) Before Income Taxes		(3,699,194	))		(2,536,747	)		(2,414,553	)		(5,769,956	)
Income Tax Expense		—			—			—			—
Net Income (Loss)	$	(3,699,194	)	$	(2,536,747	)	$	(2,414,553	)	$	(5,769,956	)
Basic And Diluted Earnings (Loss) Per Share	$	(.07	)	$	(.05	)	$	(.05	)	$	(.12	)

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
2014
Sales	$	12,963,652		$	13,033,361		$	13,743,778		$	14,447,653
Cost of Sales		11,283,694			11,014,469			11,473,961			11,871,106
Gross Profit		1,679,958			2,018,892			2,269,817			2,576,547
Selling, General and Administrative		4,090,199			4,214,205			4,098,835			5,917,480
Research and Product Development		4,615,197			186,695			1,301,824			1,679,878
Operating Income (Loss)		(7,025,438	)		(2,382,008	)		(3,130,842	)		(5,020,811	)
Interest and Investment Income, net		74,215			69,633			55,263			187,144
Interest Expense		854,303			858,003			892,027			1,549,980
Income (Loss) Before Income Taxes		(7,805,526	)		(3,170,378	)		(3,967,606	)		(6,383,647	)
Income Tax Expense		—			—			—			—
Net Income (Loss)	$	(7,805,526	)	$	(3,170,378	)	$	(3,967,606	)	$	(6,383,647	)
Basic And Diluted Earnings (Loss) Per Share	$	(.20	)	$	(.08	)	$	(.10	)	$	(.14	)