CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014		Dec. 31, 2013
CURRENT ASSETS:
Cash and cash equivalents	$ 972,330		$ 5,821,325
Restricted collateral deposits	248,750		498,495
Trade receivables	12,923,663		12,362,871
Unbilled receivables	20,839,514		8,463,920
Other accounts receivable and prepaid expenses	2,163,141		1,379,621
Inventories	9,560,468		10,074,766
Total current assets	46,707,866		38,600,998
LONG TERM ASSETS:
Israeli statutory/contractual severance pay fund	5,083,747		4,968,811
Other long term receivables	90,545		73,979
Property and equipment, net	6,150,807		4,926,949
Other intangible assets, net	13,259,677		1,059,151
Goodwill	46,193,681		31,024,754
Total long term assets	70,778,457		42,053,644
Total assets	117,486,323	[1]	80,654,642
CURRENT LIABILITIES:
Trade payables	4,221,685		5,107,208
Other accounts payable and accrued expenses	7,851,450		6,012,041
Current portion of long term debt	4,339,876		95,382
Short term bank credit	5,095,924		0
Deferred revenues	5,564,856		7,020,079
Total current liabilities	27,073,791		18,234,710
LONG TERM LIABILITIES:
Accrued Israeli statutory/contractual severance pay	7,385,375		7,020,060
Long term portion of debt	19,443,050		1,830,348
Deferred tax liability	5,817,065		5,518,521
Other long-term liabilities	2,418,549		74,027
Total long-term liabilities	35,064,039		14,442,956
Total liabilities	62,137,830		32,677,666
Share capital –
Common stock – $0.01 par value each; Authorized: 50,000,000 shares as of June 30, 2014 and December 31, 2013; Issued and outstanding: 21,010,056 shares and 20,163,163 shares as of June 30, 2014 and December 31, 2013, respectively	210,101		201,632
Preferred shares – $0.01 par value each; Authorized: 1,000,000 shares as of June 30, 2014 and December 31, 2013; No shares issued or outstanding as of June 30, 2014 and December 31, 2013	0		0
Additional paid-in capital	234,382,503		229,917,341
Accumulated deficit	(180,299,795)		(183,096,572)
Notes receivable from stockholders	(908,054)		(908,054)
Accumulated other comprehensive income	1,963,738		1,862,629
Total stockholders’ equity	55,348,493		47,976,976
Total liabilities and stockholders’ equity	$ 117,486,323		$ 80,654,642

[1] Out of those amounts, goodwill in the Company's Training and Simulation and Battery and Power Systems Divisions totaled $24,435,641 and $21,758,040, respectively, as of June 30, 2014 and $24,435,641 and $6,321,396, respectively, as of June 30, 2013.