SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2014

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
Automobiles	7 years

Schedule of significant customers

	Three Months ended March 31, 2014	Three Months ended March 31, 2013
Number of significant customers	3	1
Aggregate dollar amount of net sales to significant customers	$3.0 million	$1.4 million
Percentage of net sales to significant customers	49.1%	19.2%

Schedule of earnings per share

		Three Months Ended March 31, 2014			Three Months Ended March 31, 2013
Net loss	$	(2,038,392	)	$	(1,409,533	)
Preferred dividend requirements		(228,999	)		(229,068	)
Loss available to common shareholders after assumed conversions	$	(2,267,391	)	$	(1,638,601	)
Average common shares outstanding		27,258,689			27,238,495
Average common and common equivalent shares outstanding - assuming dilution		27,258,689			27,238,495
Basic loss per share	$	(0.08	)	$	(0.06	)
Diluted loss per share	$	(0.08	)	$	(0.06	)