Leases and Defined Contribution Plan

12 Months Ended

Dec. 31, 2016

Leases and Defined Contribution Plan [Abstract]

NOTE 9 – LEASES AND DEFINED CONTRIBUTION PLAN

The Company’s has entered into non-cancellable leases for its office, warehouse facilities and some equipment. These lease agreements commence on various dates from September 1, 2010 to December 2015 and all expires on or before December, 2023. Future minimum lease payments at December 31, 2016 are as follows:

2017	$	531,000
2018		250,000
2019		178,000
2020		139,000
2021		67,000
Thereafter		84,000
Total	$	1,249,000

The Company has also entered into various other leases on a month to month basis for machinery and equipment. Rent expense amounted to approximately $664,000 and $320,000 for the year ended December 31, 2016 and 2015, respectively.

DEFINED CONTRIBUTION 401(k) PLAN

The Company implemented a 401(k) plan in October of 2016. Eligible employees contribute to the 401(k) plan. Employees become eligible after attaining age 21 and after 3 months of employment with the Company. The employee may become a participant of the 401(k) plan on the first day of the month following the completion of the eligibility requirements. Effective October 2016 the Company implemented a discretionary employer match to the plan (the “Contribution”). The Contributions are subject to a vesting schedule and become fully vested after one year of service, retirement, death or disability, whichever occurs first. The Company made contributions of $0 and $0 for the years ended December 31, 2016 and 2015, respectively.