ImmuCell (ICCC) 10-K 22 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Mar. 18, 2019	Jun. 30, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	IMMUCELL CORP /DE/
Entity Central Index Key	0000811641
Amendment Flag	false
Trading Symbol	ICCC
Current Fiscal Year End Date	--12-31
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2018
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Public Float			$ 31,531,000
Entity Common Stock, Shares Outstanding		5,573,231

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2018	Dec. 31, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 2,521,050	$ 3,798,811
Trade accounts receivable, net	932,298	1,344,022
Inventory	2,331,671	2,049,732
Prepaid expenses and other current assets	635,817	314,667
Total current assets	6,420,836	7,507,232
PROPERTY, PLANT AND EQUIPMENT, net	26,027,549	26,069,689
DEFERRED TAX ASSETS, net		472,726
INTANGIBLE ASSETS, net	133,728	152,832
GOODWILL	95,557	95,557
INTEREST RATE SWAPS	40,209
OTHER ASSETS	12,953	920
TOTAL ASSETS	32,730,832	34,298,956
CURRENT LIABILITIES:
Accounts payable and accrued expenses	1,220,660	1,723,270
Current portion of bank debt	844,351	316,629
Line of credit	500,000
Deferred revenue		24,100
Total current liabilities	2,565,011	2,063,999
LONG-TERM LIABILITIES:
Bank debt, net of current portion	8,421,487	8,639,021
Interest rate swaps		996
Total long-term liabilities	8,421,487	8,640,017
TOTAL LIABILITIES	10,986,498	10,704,016
CONTINGENT LIABILITIES AND COMMITMENTS (See Note 17)
STOCKHOLDERS' EQUITY:
Common stock, $0.10 par value per share, 11,000,000 and 8,000,000 shares authorized, 5,662,645 and 5,662,645 shares issued and 5,568,962 and 5,476,197 shares outstanding, as of December 31, 2018 and 2017, respectively	566,265	566,265
Additional paid-in capital	22,695,557	22,458,219
(Accumulated deficit) retained earnings	(1,342,698)	978,973
Treasury stock, at cost, 93,683 and 186,448 shares as of December 31, 2018 and 2017, respectively	(204,947)	(407,879)
Accumulated other comprehensive income (loss)	30,157	(638)
Total stockholders' equity	21,744,334	23,594,940
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 32,730,832	$ 34,298,956

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized	11,000,000	8,000,000
Common stock, shares issued	5,662,645	5,662,645
Common stock, shares outstanding	5,568,962	5,476,197
Treasury stock, shares	93,683	186,448

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Product sales	$ 10,986,297	$ 10,431,091
Costs of goods sold	5,792,392	5,209,734
Gross margin	5,193,905	5,221,357
OPERATING EXPENSES (INCOME):
Product development expenses	3,516,619	2,046,564
Sales and marketing expenses	2,084,903	1,892,823
Administrative expenses	1,738,953	1,524,815
Gain on sale of assets	(700,000)
Operating activities, net	6,640,475	5,464,202
NET OPERATING LOSS	(1,446,570)	(242,845)
Other expenses, net	413,481	195,635
LOSS BEFORE INCOME TAXES	(1,860,051)	(438,480)
Income tax expense (benefit)	461,620	(270,333)
NET LOSS	$ (2,321,671)	$ (168,147)
Basic weighted average common shares outstanding	5,486,154	4,949,213
Basic net loss per share	$ (0.42)	$ (0.03)
Diluted weighted average common shares outstanding	5,486,154	4,949,213
Diluted net loss per share	$ (0.42)	$ (0.03)

Statements of Comprehensive Los

Statements of Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statements of Other Comprehensive Income [Abstract]
Net loss	$ (2,321,671)	$ (168,147)
Other comprehensive income:
Interest rate swaps, before taxes	41,206	36,350
Income tax applicable to interest rate swaps	(10,411)	(13,086)
Other comprehensive income, net of taxes	30,795	23,264
Total comprehensive loss	$ (2,290,876)	$ (144,883)

Statements of Stockholders' Equ

Statements of Stockholders' Equity - USD ($)	Total	Common Stock	Additional paid-in capital	Retained Earnings (Accumulated Deficit)	Treasury Stock	Accumulated Other Comprehensive (Loss) Income
Balance at Dec. 31, 2016	$ 19,722,142	$ 504,484	$ 18,526,383	$ 1,147,120	$ (431,943)	$ (23,902)
Balance, Shares at Dec. 31, 2016		5,044,838			197,448
Net loss	(168,147)			(168,147)
Other comprehensive income, net of taxes	23,264					23,264
Private placement of common stock, net of $15,836 of offering costs	1,034,164	$ 20,000	1,014,164
Private placement of common stock, net of $15,836 of offering costs, Shares		200,000
Public offering of common stock, net of $315,818 of offering costs	2,734,174	$ 41,781	2,692,393
Public offering of common stock, net of $315,818 of offering costs, Shares		417,807
Exercise of stock options	49,560		25,496		$ 24,064
Exercise of stock options, Shares					(11,000)
Stock-based compensation	199,783		199,783
Balance at Dec. 31, 2017	23,594,940	$ 566,265	22,458,219	978,973	$ (407,879)	(638)
Balance, Shares at Dec. 31, 2017		5,662,645			186,448
Net loss	(2,321,671)			(2,321,671)
Other comprehensive income, net of taxes	30,795					30,795
Exercise of stock options	96,254		(106,678)		$ 202,932
Exercise of stock options, Shares					(92,765)
Stock-based compensation	344,016		344,016
Balance at Dec. 31, 2018	$ 21,744,334	$ 566,265	$ 22,695,557	$ (1,342,698)	$ (204,947)	$ 30,157
Balance, Shares at Dec. 31, 2018		5,662,645			93,683

Statements of Stockholders' E_2

Statements of Stockholders' Equity (Parenthetical)	12 Months Ended
	Dec. 31, 2017USD ($)
Statement of Stockholders' Equity [Abstract]
Common stock, private placement costs	$ 15,836
Common stock, public offering costs	$ 315,818

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,321,671)	$ (168,147)
Adjustments to reconcile net loss to net cash (used for) provided by operating activities:
Depreciation	1,501,607	885,331
Amortization	19,104	19,104
Non-cash interest expense	16,829	15,291
Deferred income taxes	462,315	(284,809)
Stock-based compensation	344,016	199,783
Gain on sale of assets	(700,000)
Loss (gain) on disposal of fixed assets	1,733	(2,323)
Recovery of provision for uncollectible accounts, net		(21,326)
Changes in:
Trade accounts receivable, gross	411,724	(330,306)
Accrued interest income		24,013
Inventory	(281,939)	77,167
Prepaid expenses and other current assets	128,849	289,816
Other assets	(12,033)	33,344
Accounts payable and accrued expenses	80,162	448,641
Deferred revenue	(24,100)	(9,756)
Net cash (used for) provided by operating activities	(373,404)	1,175,823
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(2,029,895)	(17,759,876)
Payment of contingent royalties related to 2016 acquisition	(14,077)	(8,661)
Maturities of investments		5,699,000
Purchases of investments		(249,000)
Proceeds from sale of assets	250,000
Proceeds from sale of fixed assets		45,000
Net cash used for investing activities	(1,793,972)	(12,273,537)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from public offering, net		2,734,174
Proceeds from private placement, net		1,034,164
Proceeds from debt issuance	693,640	6,146,360
Proceeds from line of credit	500,000
Debt principal repayments	(398,308)	(151,976)
Payments of debt issuance costs	(1,971)	(66,101)
Proceeds from exercise of stock options	96,254	49,560
Net cash provided by financing activities	889,615	9,746,181
NET DECREASE IN CASH AND CASH EQUIVALENTS	(1,277,761)	(1,351,533)
BEGINNING CASH AND CASH EQUIVALENTS	3,798,811	5,150,344
ENDING CASH AND CASH EQUIVALENTS	2,521,050	3,798,811
CASH PAID FOR:
Income taxes	4,222	6,066
Interest expense	403,535	186,542
NON-CASH ACTIVITIES:
Change in capital expenditures included in accounts payable and accrued expenses	(568,695)	(608,473)
Net change in fair value of interest rate swaps	(30,795)	(23,264)
Fixed asset disposals, gross	$ 22,681	$ 3,478

Business Operations

Business Operations	12 Months Ended
	Dec. 31, 2018
Business Operations [Abstract]
BUSINESS OPERATIONS	1. BUSINESS OPERATIONS ImmuCell Corporation (the “Company”, “we”, “us”, “our”) was originally incorporated in Maine in 1982 and reincorporated in Delaware in 1987, in conjunction with its initial public offering of common stock. We are an animal health company whose purpose is to create scientifically-proven and practical products that improve the health and productivity of dairy and beef cattle. We market products that provide Immediate Immunity™

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of Presentation We have prepared the accompanying audited financial statements reflecting all adjustments that are, in our opinion, necessary in order to ensure that the financial statements are not misleading. We follow accounting standards set by the Financial Accounting Standards Board (FASB). The FASB sets generally accepted accounting principles (GAAP) that we follow to ensure we consistently report our financial condition, results of operations, earnings per share and cash flows. References to GAAP in these footnotes are to the FASB Accounting Standards Codification (b) Cash and Cash Equivalents We consider all highly liquid investment instruments that mature within three months of their purchase dates to be cash equivalents. Cash equivalents are principally invested in securities backed by the U.S. government. Certain cash balances in excess of Federal Deposit Insurance Corporation (FDIC) limits of $250,000 per financial institution per depositor are maintained in money market accounts at financial institutions that are secured, in part, by the Securities Investor Protection Corporation. Amounts in excess of these FDIC limits per bank that are not invested in securities backed by the U.S. government aggregated $2,268,737 and $3,546,529 as of December 31, 2018 and 2017, respectively. We account for investments in marketable securities in accordance with Codification Topic 320, Investments — Debt and Equity Securities (c) Accounts Receivable Accounts receivable are carried at the original invoice amount less an estimate made for doubtful collection. Management determines the allowance for doubtful accounts on a monthly basis by identifying troubled accounts and by using historical experience applied to an aging of accounts. Accounts receivable are considered to be past due if a portion of the receivable balance is outstanding for more than 30 days. Past due accounts receivable are subject to an interest charge. Accounts receivable are written off when deemed uncollectible. The amount of accounts receivable written off during all periods reported was immaterial. Recoveries of accounts receivable previously written off are recorded as income when received. As of December 31, 2018 and 2017, we determined that no allowance for bad debt was necessary. See Note 4. (d) Inventory Inventory includes raw materials, work-in-process and finished goods and is recorded at the lower of cost, on the first-in, first-out method, or net realizable value (determined as the estimated selling price in the normal course of business, less reasonably predictable costs of completion, disposal and transportation). Work-in-process and finished goods inventories include materials, labor and manufacturing overhead. At each monthly balance sheet date, we evaluate our ending inventories for excess quantities and obsolescence. Inventories that we consider excess or obsolete are reserved. Once inventory is written down and a new cost basis is established, it is not written back up if demand increases. We believe that supplies and raw materials for the production of our products are available from more than one vendor or farm. Our policy is to maintain more than one source of supply for the components used in our products when practicable. See Note 5. (e) Property, Plant and Equipment We depreciate property, plant and equipment on the straight-line method by charges to operations and costs of goods sold in amounts estimated to expense the cost of the assets from the date they are first put into service to the end of the estimated useful lives of the assets. The facility we have constructed to produce the active pharmaceutical ingredient, Nisin, is being depreciated over 39 years from when a certificate of occupancy was issued during the fourth quarter of 2017. We began depreciating the equipment for our Nisin production facility when it was placed in service during the third quarter of 2018. Approximately 89% of these assets are being depreciated over ten years. Significant repairs to fixed assets that benefit more than a current period are capitalized and depreciated over their useful lives. Insignificant repairs are expensed when incurred. See Note 7. (f) Intangible Assets and Goodwill We amortize intangible assets on the straight-line method by charges to costs of goods sold in amounts estimated to expense the cost of the assets from the date they are first put into service to the end of the estimated useful lives of the assets. We have recorded intangible assets related to customer relationships, non-compete agreements, and developed technology, each with defined useful lives. We have classified as goodwill the amounts paid in excess of fair value of the net assets (including tax attributes) acquired in purchase transactions. We assess the impairment of intangible assets and goodwill that have indefinite lives at the reporting unit level on an annual basis (as of December 31 st (g) Fair Value Measurements In determining fair value measurements, we follow the provisions of Codification Topic 820, Fair Value Measurements and Disclosures Level 2 inputs. The estimated fair value of our bank debt facilities approximates their carrying value based on similar instruments with similar maturities. The three-level hierarchy is as follows: Level 1 — Pricing inputs are quoted prices available in active markets for identical assets or liabilities as of the measurement date. Level 2 — Pricing inputs are quoted prices for similar assets or liabilities, or inputs that are observable, either directly or indirectly, for substantially the full term through corroboration with observable market data. Level 3 — Pricing inputs are unobservable for the assets or liabilities, that is, inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. From time to time, we also hold money market mutual funds in a brokerage account, which are classified as cash equivalents and measured at fair value. The fair value of these investments is based on their closing published net asset value. We assess the levels of the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with our accounting policy regarding the recognition of transfers between levels of the fair value hierarchy. During the years ended December 31, 2018 and 2017, there were no transfers between levels. As of December 31, 2018 and 2017, our Level 1 assets measured at fair value by quoted prices in active markets consisted of bank savings accounts and money market funds. As of December 31, 2018 and 2017, our interest rate swaps were classified as Level 2 and were measured by observable market data in combination with expected cash flows for each instrument. There were no assets or liabilities measured at fair value on a nonrecurring basis as of December 31, 2018 or 2017. As of December 31, 2018 Level 1 Level 2 Level 3 Total Assets: Cash and money market accounts $ 2,521,050 $ — $ — $ 2,521,050 Interest rate swaps — 40,209 — 40,209 Total $ 2,521,050 $ 40,209 $ — $ 2,561,259 As of December 31, 2017 Level 1 Level 2 Level 3 Total Assets: Cash and money market accounts $ 3,798,811 $ — $ — $ 3,798,811 Liabilities: Interest rate swaps — (996 ) — (996 ) Total $ 3,798,811 $ (996 ) $ — $ 3,797,815 (h) Valuation of Long-Lived Assets We periodically evaluate our long-lived assets, consisting principally of fixed assets and amortizable intangible assets, for potential impairment. In accordance with the applicable accounting guidance for the treatment of long-lived assets, we review the carrying value of our long-lived assets or asset group that is held and used, including intangible assets subject to amortization, for impairment whenever events and circumstances indicate that the carrying value of the assets may not be recoverable. Under the held for use approach, the asset or asset group to be tested for impairment should represent the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. We evaluate our long-lived assets whenever events or circumstances suggest that the carrying amount of an asset or group of assets may not be recoverable. No impairment was recognized during the years ended December 31, 2018 and 2017. (i) Concentration of Risk Concentration of credit risk with respect to accounts receivable is principally limited to certain customers to whom we make substantial sales. To reduce risk, we routinely assess the financial strength of our customers and, as a consequence, believe that our accounts receivable credit risk exposure is limited. We maintain an allowance for potential credit losses when deemed necessary, but historically we have not experienced significant credit losses related to an individual customer or groups of customers in any particular industry or geographic area. Sales to significant customers that amounted to 10% or more of total product sales are detailed in the following table: During the Years Ended December 31, 2018 2017 Animal Health International, Inc. 43 % 42 % MWI Animal Health 23 % 22 % Trade accounts receivable due from significant customers amounted to the percentages of total trade accounts receivable as detailed in the following table: As of December 31, 2018 As of December 31, 2017 MWI Animal Health 36 % 29 % Animal Health International, Inc. 35 % 40 % ANIMART LLC 15 % * * Amount is less than 10% (j) Interest Rate Swap Agreements All derivatives are recognized on the balance sheet at their fair value. We entered into interest rate swap agreements in 2010 and 2015. On the dates the agreements were entered into, we designated the derivatives as hedges of the variability of cash flows to be paid related to our long-term debt. The agreements have been determined to be highly effective in hedging the variability of identified cash flows, so changes in the fair market value of the interest rate swap agreements are recorded as comprehensive income (loss), until earnings are affected by the variability of cash flows (e.g., when periodic settlements on a variable-rate asset or liability are recorded in earnings). We formally documented the relationship between the interest rate swap agreements and the related hedged items. We also formally assess, both at the interest rate swap agreements’ inception and on an ongoing basis, whether the agreements are highly effective in offsetting changes in cash flow of hedged items. See Note 11. (k) Revenue Recognition We sell products that provide Immediate Immunity™ to newborn dairy and beef cattle. For periods ended on and before December 31, 2017, we recognized revenue in accordance with Accounting Standards Codification (ASC) 605 when four criteria were met. These included i) persuasive evidence that an arrangement existed, ii) delivery had occurred, iii) our price was fixed and determinable and iv) collectability was reasonably assured. For periods beginning on or after January 1, 2018, we recognize revenue in accordance with ASC 606, Revenue from Contracts with Customers (l) Expense Recognition In 2018, we adopted ASC 340-40, Accounting for Other Assets and Deferred Costs (m) Income Taxes We account for income taxes in accordance with Codification Topic 740, Income Taxes Codification Topic 740-10 clarifies the accounting for income taxes by prescribing a minimum recognition threshold that a tax position must meet before being recognized in the financial statements. In the ordinary course of business, there are transactions and calculations where the ultimate tax outcome is uncertain. In addition, we are subject to periodic audits and examinations by the Internal Revenue Service and other taxing authorities. With few exceptions, we are no longer subject to income tax examinations by tax authorities for years before 2015. We have evaluated the positions taken on our filed tax returns. We have concluded that no uncertain tax positions exist as of December 31, 2018 or 2017. Although we believe that our estimates are reasonable, actual results could differ from these estimates. See Note 16. (n) Stock-Based Compensation We account for stock-based compensation in accordance with Codification Topic 718, Compensation-Stock Compensation (o) Net Loss Per Common Share Net loss per common share has been computed in accordance with Codification Topic 260-10, Earnings Per Share. (p) Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Although we regularly assess these estimates, actual amounts could differ from those estimates. Changes in estimates are recorded during the period in which they become known. Significant estimates include our inventory valuation, valuation of goodwill and long-lived assets, valuation of deferred tax assets, accrued expenses, costs of goods sold, and useful lives of intangible assets. (q) New Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) Codification improvements to Topic 842, Leases. Topic 842, Leases - Targeted improvements. In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718) Scope of Modification Accounting In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement

Cash and Cash Equivalents

Cash and Cash Equivalents	12 Months Ended
	Dec. 31, 2018
Cash and Cash Equivalents [Abstract]
CASH AND CASH EQUIVALENTS	3. CASH AND CASH EQUIVALENTS Cash and cash equivalents amounted to $2,521,050 and $3,798,811 as of December 31, 2018 and 2017, respectively. Short-term investments were liquidated during 2017 to partially finance the investment in our Nisin production facility. The cost of securities sold is based on the specific identification method. Realized gains and losses and declines in value, judged to be other than temporary, are included in investment income. We are required by bank debt covenant to maintain at least $2,000,000 of otherwise unrestricted cash, cash equivalents and short-term investments.

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net	12 Months Ended
	Dec. 31, 2018
Trade Accounts Receivable, Net [Abstract]
TRADE ACCOUNTS RECEIVABLE, net	4. TRADE ACCOUNTS RECEIVABLE, net Trade accounts receivable amounted to $932,298 and $1,344,022 as of December 31, 2018 and 2017, respectively. No allowance for bad debt and product returns was recorded as of December 31, 2018 or 2017.

Inventory

Inventory	12 Months Ended
	Dec. 31, 2018
Inventory [Abstract]
INVENTORY	5. INVENTORY Inventory consisted of the following: As of December 31, 2018 As of December 31, 2017 Raw materials $ 338,991 $ 483,329 Work-in-process 1,337,035 1,349,649 Finished goods 655,645 216,754 Total $ 2,331,671 $ 2,049,732

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	12 Months Ended
	Dec. 31, 2018
Prepaid Expenses and Other Current Assets [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS	6. PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consisted of the following: As of December 31, 2018 As of December 31, 2017 Prepaid expenses $ 142,528 $ 130,813 Other receivables (1) 493,289 149,590 Security deposits (2) - 34,264 Total $ 635,817 $ 314,667 (1) This amount as of December 31, 2018 includes $450,000 due from a third party for the sale of assets. See Note 14. (2) This amount as of December 31, 2017 represents the current portion of escrow funds held against certain construction performance requirements that was released during the fourth quarter of 2018.

Property, Plant And Equipment,

Property, Plant And Equipment, Net	12 Months Ended
	Dec. 31, 2018
Property, Plant And Equipment, Net [Abstract]
PROPERTY, PLANT AND EQUIPMENT, net	7. PROPERTY, PLANT AND EQUIPMENT, net Property, plant and equipment consisted of the following: Estimated Useful Lives (in years) As of December 31, 2018 As of December 31, 2017 Laboratory and manufacturing equipment 3-10 $ 15,092,252 $ 5,511,452 Building and improvements 10-39 17,018,316 16,966,728 Office furniture and equipment 3-10 731,510 698,877 Construction in progress n/a 91,067 8,315,436 Land n/a 516,867 518,999 Property, plant and equipment, gross 33,450,012 32,011,492 Accumulated depreciation (7,422,463 ) (5,941,803 ) Property, plant and equipment, net $ 26,027,549 $ 26,069,689 As of December 31, 2018, construction in progress consisted principally of down payments towards two pieces of manufacturing equipment. As of December 31, 2017, construction in progress consisted principally of payments for equipment to be used in our Nisin production facility. Approximately $22,681 and $435,448 of property, plant and equipment was disposed of during the years ended December 31, 2018 and 2017, respectively. Depreciation expense was approximately $1,501,607 and $885,331 during the years ended December 31, 2018 and 2017, respectively.

Business Acquisition

Business Acquisition	12 Months Ended
	Dec. 31, 2018
Business Acquisition [Abstract]
BUSINESS ACQUISITION	8. BUSINESS ACQUISITION On January 4, 2016, we acquired certain business assets and processes from DAY 1™ Technology, LLC of Minnesota. The acquired rights and know-how are primarily related to formulating our bovine antibodies into a gel solution (or paste) for an oral delivery option to newborn calves via a syringe (or tube). This product format offers customers an alternative delivery option to the bolus (the standard delivery format of the bivalent First Defense ® Dual-Force™ First Defense ® We were also interested in a gel formulation in anticipation of the launch of Tri-Shield First Defense ® (which was approved by the USDA during the fourth quarter of 2017) because the additional rotavirus antibodies in this new product would not fit in a bolus full of E. coli and coronavirus antibodies. This purchase also included certain other related private-label products. The total purchase price was approximately $532,000. Approximately $368,000 of this amount was paid as of the closing date. A technology transfer payment of $97,000 was made during the third quarter of 2016. There were also royalty payments owed based on a percentage of sales made through December 31, 2018, which were due semi-annually in January and July. As of January 4, 2016, we estimated the aggregate royalties to be paid would be approximately $67,000, which was recorded in accounts payable and accrued expenses. Royalty expense of $17,268, $10,615 and $8,200 was incurred for sales recorded during the years ended December 31, 2018, 2017 and 2016, respectively. As of December 31, 2018, the amount due was approximately $8,914, which was recorded in accounts payable. The estimated fair values of the assets purchased in this transaction included inventory of approximately $113,000, machinery and equipment of approximately $132,000, a developed technology intangible of approximately $191,000 (which includes an immaterial amount of value associated with customer relationships and a non-compete agreement, and was valued using the relief from royalty method) and goodwill of approximately $96,000. The goodwill arising from the acquisition consists largely of the estimated value of anticipated growth opportunities arising from synergies and efficiencies. The measurement period for the transaction was closed as of June 30, 2016, and we continue to assess any impairment of these assets acquired in accordance with our policies. The impact of the acquisition on our pro forma prior year operations is not material. As of December 31, 2016, we vacated the rented facility in Minnesota that had been used to produce the gel solution format of our product and certain other related private-label products. This resulted in the termination of employment of four employees, as these production functions were consolidated into our Portland facility, which enables us to better utilize existing infrastructure and larger scale equipment to improve operating efficiencies.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2018
Intangible Assets [Abstract]
INTANGIBLE ASSETS	9. INTANGIBLE ASSETS The intangible assets described in Note 8 are being amortized to costs of goods sold over their useful lives, which are estimated to be 10 years. Intangible amortization expense was $19,104 during both of the years ended December 31, 2018 and 2017. The net value of these intangibles was $133,728 as of December 31, 2018. A summary of intangible amortization expense estimated for the periods subsequent to December 31, 2018 is as follows: Period Amount Year ending December 31, 2019 $ 19,104 Year ending December 31, 2020 19,104 Year ending December 31, 2021 19,104 Year ending December 31, 2022 19,104 Year ending December 31, 2023 19,104 After December 31, 2023 38,208 Total $ 133,728 Intangible assets as of December 31, 2018 consisted of the following: Gross Carrying Value Accumulated Amortization Net Book Value Developed technology $ 184,100 $ (55,230 ) $ 128,870 Customer relationships 1,300 (390 ) 910 Non-compete agreements 5,640 (1,692 ) 3,948 Total $ 191,040 $ (57,312 ) $ 133,728 Intangible assets as of December 31, 2017 consisted of the following: Gross Carrying Value Accumulated Amortization Net Book Value Developed technology $ 184,100 $ (36,820 ) $ 147,280 Customer relationships 1,300 (260 ) 1,040 Non-compete agreements 5,640 (1,128 ) 4,512 Total $ 191,040 $ (38,208 ) $ 152,832

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 31, 2018
Accounts Payable and Accrued Expenses [Abstract]
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	10. ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consisted of the following: As of December 31, 2018 As of December 31, 2017 Accounts payable – trade $ 531,048 $ 580,456 Accounts payable – capital 72,695 641,389 Accrued payroll 358,451 254,743 Accrued professional fees 93,050 64,200 Accrued other 165,416 182,482 Total $ 1,220,660 $ 1,723,270

Bank Debt

Bank Debt	12 Months Ended
	Dec. 31, 2018
Bank Debt [Abstract]
BANK DEBT	11. BANK DEBT We have in place five credit facilities and a line of credit with TD Bank N.A. These five credit facilities are secured by substantially all of our assets and are subject to certain restrictions and financial covenants. The first note (Loan #1) is not to exceed 80% of the appraised value of our corporate headquarters and production and research facility at 56 Evergreen Drive in Portland. Proceeds of $1,000,000 were received during the third quarter of 2010 with monthly principal and interest payments due for ten years, calculated based on a fifteen-year amortization schedule. A balloon principal payment of $451,885 will be due during the third quarter of 2020. As of December 31, 2018, $562,604 was outstanding under Loan #1. Proceeds from a $2,500,000 second mortgage on this corporate headquarters (Loan #2) were received during the third quarter of 2015 with monthly principal and interest payments due for ten years, calculated based on a twenty-year amortization schedule. A balloon principal payment of approximately $1,550,000 will be due during the third quarter of 2025. As of December 31, 2018, $2,233,768 was outstanding under Loan #2. During the first quarter of 2016, we entered into two additional credit facilities (Loans #3 and #4) aggregating up to approximately $4,500,000. As a result of loan amendments entered into the during the first quarter of 2017, these two credit facilities were increased to up to $6,500,000, subject to certain restrictions set forth in the agreements. Loan #3 is comprised of a construction loan of up to $3,940,000 and not to exceed 80% of the cost of the equipment installed in our commercial-scale Nisin production facility at 33 Caddie Lane in Portland. As amended, interest only was payable at a variable rate equal to the one-month LIBOR (adjusted at each monthly payment date) plus a margin of 2.25% through September 2018, at which time the loan converted to a seven-year term loan facility at the same variable interest rate (which was equal to 4.60% as of December 31, 2018) with monthly principal and interest payments due based on a seven-year amortization schedule. As of December 31, 2018, $3,799,286 was outstanding under Loan #3. Loan #4 is comprised of a construction loan of up to $2,560,000 and not to exceed 80% (75% prior to the 2017 amendments) of the appraised value of our commercial-scale Nisin production facility. As amended, interest only was payable at a variable rate equal to the one-month LIBOR (adjusted at each monthly payment date) plus a margin of 2.25% through March 2018, at which time the loan converted to a term loan facility at the same variable interest rate (which was equal to 4.60% as of December 31, 2018) with monthly principal and interest payments due for ten years, calculated based on a twenty-year amortization schedule. A balloon principal payment of approximately $1,408,000 will be due during the first quarter of 2027. As of December 31, 2018, $2,464,000 was outstanding under Loan #4. The fifth note (Loan #5) is a mortgage that is secured by the 4,114 square foot warehouse and storage facility we acquired adjacent to our Nisin production facility. Proceeds of $340,000 were received during the first quarter of 2017. This note bears interest at a variable rate equal to the one-month LIBOR (adjusted at each monthly payment date) plus a margin of 2.25% (which was equal to 4.71% as of December 31, 2018) with monthly principal and interest payments due for ten years, calculated based on a twenty-year amortization schedule. A balloon principal payment of approximately $208,000 will be due during the first quarter of 2027. As of December 31, 2018, $320,767 was outstanding under Loan #5. We hedged our interest rate exposures on Loan #1 and Loan #2 with interest rate swap agreements that effectively converted floating interest rates based on the one-month LIBOR plus a margin of 3.25% and 2.25% to the fixed rates of 6.04% and 4.38%, respectively. As of December 31, 2018, the variable rates on these two mortgage notes were 5.68% and 4.73%, respectively. All derivatives are recognized on the balance sheet at their fair value. At the time of the closings and thereafter, the agreements were determined to be highly effective in hedging the variability of the identified cash flows and have been designated as cash flow hedges of the variability in the hedged interest payments. Changes in the fair value of the interest rate swap agreements are recorded in other comprehensive income, net of taxes. The original notional amounts of the interest rate swap agreements of $1,000,000 and $2,500,000 amortize in accordance with the amortization of the mortgage notes. The notional amount of the interest rate swaps was $2,796,372 as of December 31, 2018. The fair values of the interest rate swaps have been determined using observable market-based inputs or unobservable inputs that are corroborated by market data. Accordingly, the interest rate swaps are classified as level 2 within the fair value hierarchy provided in Codification Topic 820, Fair Value Measurements and Disclosures During the Years Ended December 31, 2018 2017 Payments required by interest rate swaps $ 9,581 $ 37,502 Other comprehensive income, net of taxes $ 30,795 $ 23,264 In connection with the credit facilities entered into during the third quarters of 2010 and 2015, we incurred debt issue costs of $26,489 and $34,125, respectively. In connection with the credit facilities and amendments thereto entered into during the first quarters of 2016 and 2017, we incurred debt issue costs of $46,734 and $68,072, respectively. The 2017 amendments to Loan #3 and Loan #4 were accounted for as modifications. The amortization of debt issuance costs is being recorded as a component of other expenses and is being amortized over the underlying terms of the respective credit facilities. Debt proceeds received and principal repayments made during the years ended December 31, 2018 and 2017 are reflected in the following table by year and by loan: During the Year Ended December 31, 2018 During the Year Ended December 31, 2017 Proceeds from Debt Issuance Debt Principal Repayments Proceeds from Debt Issuance Debt Principal Repayments Loan #1 $ — $ (64,876 ) $ — $ (61,056 ) Loan #2 — (86,097 ) — (82,308 ) Loan #3 426,499 (140,714 ) 3,513,501 — Loan #4 267,141 (96,000 ) 2,292,859 — Loan #5 — (10,621 ) 340,000 (8,612 ) Total $ 693,640 $ (398,308 ) $ 6,146,360 $ (151,976 ) Principal payments (net of debt issuance costs) due under bank loans outstanding as of December 31, 2018 (excluding our $500,000 line of credit) are reflected in the following table by the year that payments are due: Year ending 12/31/2019 Year ending 12/31/2020 Year ending 12/31/2021 Year ending 12/31/2022 Year Ending 12/31/2023 After 12/31/2023 Total Loan #1 $ 68,908 $ 493,696 $ — $ — $ — $ — $ 562,604 Loan #2 89,997 94,005 98,538 103,077 107,769 1,740,382 2,233,768 Loan #3 (1) 562,857 562,857 562,857 562,857 562,857 985,001 3,799,286 Loan #4 (1) 128,000 128,000 128,000 128,000 128,000 1,824,000 2,464,000 Loan #5 (2) 11,564 12,102 12,664 13,253 13,869 257,315 320,767 Subtotal $ 861,326 $ 1,290,660 $ 802,059 $ 807,187 $ 812,495 $ 4,806,698 9,380,425 Debt Issuance Costs (114,587 ) Total $ 9,265,838 (1) These notes bear interest at a variable rate equal to the one-month LIBOR plus a margin of 2.25%. Figures in this table are estimated using an interest rate of approximately 4.60%. The actual interest rate and principal payments will be different. (2) This note bears interest at a variable rate equal to the one-month LIBOR plus a margin of 2.25%. Figures in this table are estimated using an interest rate of approximately 4.55%. The actual interest rate and principal payments will be different. During the third quarter of 2010, we entered into a $500,000 line of credit with TD Bank N.A., which is secured by substantially all of our assets and is subject to certain restrictions and financial covenants. This line of credit has been renewed approximately annually since then, is available as needed and has been extended through May 31, 2020. As of December 31, 2018, $500,000 was outstanding under this line of credit. There was no outstanding balance under this line of credit as of December 31, 2017. Interest on borrowings against the line of credit is variable at the higher of 4.25% per annum or the one-month LIBOR plus 3.5% per annum.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2018
Stockholders' Equity [Abstract]
STOCKHOLDERS' EQUITY	12. STOCKHOLDERS’ EQUITY On October 28, 2015, we filed a registration statement on Form S-3 (File No. 333-207635) with the Securities and Exchange Commission (SEC) for the potential issuance of up to $10,000,000 in equity securities (subject to certain limitations). This registration statement became effective on November 10, 2015. Under this form of registration statement, we were limited within a twelve-month period to raising gross proceeds of no more than one-third of the market capitalization of our common stock (as determined by the high price of our common stock within the preceding 60 days leading up to a sale of securities) held by non-affiliates (non-insiders) of the Company. Having raised $10,000,000 in gross proceeds under the February 2016, July 2017 and December 2017 equity transactions described below, no additional equity securities can be issued under this registration statement. On February 3, 2016, we sold 1,123,810 shares of common stock at a price to the public of $5.25 per share in an underwritten public offering pursuant to our effective shelf registration statement on Form S-3, raising gross proceeds of approximately $5,900,000 and resulting in net proceeds to the Company of approximately $5,313,000 (after deducting underwriting discounts and offering expenses incurred in connection with the equity financing). On October 21, 2016, we closed on a private placement of 659,880 shares of common stock to nineteen institutional and accredited investors at $5.25 per share, raising gross proceeds of approximately $3,464,000 and resulting in net proceeds to the Company of approximately $3,161,000 (after deducting placement agent fees and other expenses incurred in connection with the equity financing). On July 27, 2017, we issued 200,000 shares of our common stock at a price of $5.25 per share to two related investors pursuant to our effective shelf registration statement on Form S-3, raising gross proceeds of $1,050,000 and resulting in net proceeds of approximately $1,034,000 (after deducting expenses incurred in connection with the equity financing). On December 21, 2017, we sold 417,807 shares of common stock at a price to the public of $7.30 per share in an underwritten public offering pursuant to our effective shelf registration statement on Form S-3, raising gross proceeds of approximately $3,050,000 and resulting in net proceeds to the Company of approximately $2,734,000 (after deducting underwriting discounts and offering expenses incurred in connection with the equity financing). On November 20, 2018, we filed a registration statement on Form S-3 (File No. 333-228479) with the Securities and Exchange Commission (SEC) for the potential issuance of up to $20,000,000 in equity securities (subject to certain limitations). This registration statement became effective on November 29, 2018. Under this form of registration statement, we are limited within a twelve-month period to raising gross proceeds of no more than one-third of the market capitalization of our common stock (as determined by the high price of our common stock within the preceding 60 days leading up to a sale of securities) held by non-affiliates (non-insiders) of the Company. At the June 15, 2016 Annual Meeting of Stockholders, we reported that our stockholders voted to approve an amendment to the Company’s Certificate of Incorporation to increase the number of shares of common stock authorized for issuance from 8,000,000 to 10,000,000. After careful consideration, we determined that the method of voting instructions described in our Proxy Statement was not consistent with the way the votes were actually recorded in accordance with stock exchange rules. Therefore, during the second quarter of 2017, we elected to treat the amendment as ineffective, and there was no increase in our authorized common stock. At the June 14, 2018 Annual Meeting of Stockholders, our stockholders voted to approve an amendment to the Company’s Certificate of Incorporation to increase the number of shares of common stock authorized for issuance from 8,000,000 to 11,000,000. In June 2000, our stockholders approved the 2000 Stock Option and Incentive Plan (the “2000 Plan”) pursuant to the provisions of the Internal Revenue Code of 1986, under which employees and certain service providers may be granted options to purchase shares of the Company’s common stock at i) no less than fair market value on the date of grant in the case of incentive stock options and ii) no less than 85% of fair market value on the date of grant in the case of non-qualified stock options. Vesting requirements are determined by the Compensation and Stock Option Committee of the Board of Directors on a case by case basis. Originally, 250,000 shares of common stock were reserved for issuance under the 2000 Plan. The stockholders of the Company approved an increase in this number to 500,000 shares in June 2001. All options granted under the 2000 Plan expire no later than ten years from the date of grant. The 2000 Plan expired in February 2010, after which date no further options could be granted under the 2000 Plan. However, outstanding options under the 2000 Plan may be exercised in accordance with their terms. In June 2010, our stockholders approved the 2010 Stock Option and Incentive Plan (the “2010 Plan”) pursuant to the provisions of the Internal Revenue Code of 1986, under which employees and certain service providers may be granted options to purchase shares of the Company’s common stock at no less than fair market value on the date of grant. At that time, 300,000 shares of common stock were reserved for issuance under the 2010 Plan and subsequently no additional shares have been reserved for the 2010 Plan. Vesting requirements are determined by the Compensation and Stock Option Committee of the Board of Directors on a case by case basis. All options granted under the 2010 Plan expire no later than ten years from the date of grant. The 2010 Plan expires in June 2020, after which date no further options could be granted under the 2010 Plan. However, options outstanding under the 2010 Plan at that time could be exercised in accordance with their terms. In June 2017, our stockholders approved the 2017 Stock Option and Incentive Plan (the “2017 Plan”) pursuant to the provisions of the Internal Revenue Code of 1986, under which employees and certain service providers may be granted options to purchase shares of the Company’s common stock at no less than fair market value on the date of grant. At that time, 300,000 shares of common stock were reserved for issuance under the 2017 Plan and subsequently no additional shares have been reserved for the 2017 Plan. Vesting requirements are determined by the Compensation and Stock Option Committee of the Board of Directors on a case by case basis. All options granted under the 2017 Plan expire no later than ten years from the date of grant. The 2017 Plan expires in March 2027, after which date no further options could be granted under the 2017 Plan. However, options outstanding under the 2017 Plan at that time could be exercised in accordance with their terms. Activity under the stock option plans described above was as follows: 2000 Plan 2010 Plan 2017 Plan Weighted Average Exercise Price Aggregate Intrinsic Value (1) Outstanding at December 31, 2016 126,500 124,500 — $ 3.89 $ 516,990 Grants — 141,000 — $ 5.92 Terminations (5,000 ) (16,000 ) — $ 5.68 Exercises (4,000 ) (7,000 ) — $ 3.47 Outstanding at December 31, 2017 117,500 242,500 — $ 4.58 $ 1,513,980 Grants — 48,500 122,500 $ 7.38 Terminations — (19,000 ) (11,000 ) $ 6.63 Exercises (105,000 ) (2,000 ) — $ 1.89 Outstanding at December 31, 2018 12,500 270,000 111,500 $ 6.37 $ 266,020 Vested at December 31, 2018 12,500 47,500 — $ 4.90 $ 129,110 Vested and expected to vest at December 31, 2018 12,500 270,000 111,500 $ 6.37 $ 266,020 Reserved for future grants — 1,000 188,500 (1) Intrinsic value is the difference between the fair market value as of the date indicated and as of the date of the option grant. The following table displays additional information about the stock option plans described above: Number of Weighted Weighted Non-vested stock options as of January 1, 2018 205,000 $ 3.49 $ 6.07 Non-vested stock options as of December 31, 2018 334,000 $ 3.63 $ 6.64 Stock options granted during the year ended December 31, 2018 171,000 $ 3.83 $ 7.38 Stock options that vested during the year ended December 31, 2018 12,000 $ 3.55 $ 7.52 Stock options that were forfeited during the year ended December 31, 2018 30,000 $ 3.78 $ 6.63 During the year ended December 31, 2018, seven employees exercised stock options covering an aggregate of 107,000 shares, of which 51,500 of these shares were acquired for cash, resulting in total proceeds of $96,240, and 55,500 of these shares were acquired by the surrender of 14,235 shares of common stock with a fair market value of $105,785 at the time of exercise and $14 in cash. During the year ended December 31, 2017, six employees exercised stock options covering 11,000 shares for cash, resulting in total proceeds of $49,560. The weighted average remaining life of the options outstanding under the 2000 Plan, the 2010 Plan and the 2017 plan as of December 31, 2018 was approximately 6 years and 7 months. The weighted average remaining life of the options exercisable under these plans as of December 31, 2018 was approximately 2 years and 7 months. The exercise prices of the options outstanding as of December 31, 2018 ranged from $3.15 to $8.90 per share. The 171,000 stock options granted during the year ended December 31, 2018 had exercise prices between $6.81 and $8.43 per share. The 141,000 stock options granted during the year ended December 31, 2017 had exercise prices between $5.33 and $8.90 per share. The aggregate intrinsic value of options exercised during 2018 and 2017 approximated $582,590 and $43,470, respectively. The weighted-average grant date fair values of options granted during 2018 and 2017 were $3.83 and $3.51 per share, respectively. As of December 31, 2018, total unrecognized stock-based compensation related to non-vested stock options aggregated $645,261, which will be recognized over a weighted average period of 1 year and 9 months. The fair value of each stock option grant has been estimated on the date of grant using the Black-Scholes option pricing model, for the purpose discussed in Note 2(n), with the following weighted-average assumptions for the years ended December 31, 2018 and 2017: For the Year Ended For the Year Ended Risk-free interest rate 2.6 % 1.9 % Dividend yield 0 % 0 % Expected volatility 56 % 61 % Expected life 5.4 years 6.5 years The risk-free interest rate is based on U.S. Treasury yields for a maturity approximating the expected option term, while the other assumptions are derived from averages of our historical data. Common Stock Rights Plan In September 1995, our Board of Directors adopted a Common Stock Rights Plan (the “Rights Plan”) and declared a dividend of one common share purchase right (a “Right”) for each of the then outstanding shares of the common stock of the Company. Each Right entitles the registered holder to purchase from the Company one share of common stock at an initial purchase price of $70.00 per share, subject to adjustment. The description and terms of the Rights are set forth in a Rights Agreement between the Company and American Stock Transfer & Trust Co., as Rights Agent. The Rights (as amended) become exercisable and transferable apart from the common stock upon the earlier of i) 10 days following a public announcement that a person or group (Acquiring Person) has, without the prior consent of the Continuing Directors (as such term is defined in the Rights Agreement), acquired beneficial ownership of 20% or more of the outstanding common stock or ii) 10 days following commencement of a tender offer or exchange offer the consummation of which would result in ownership by a person or group of 20% or more of the outstanding common stock (the earlier of such dates being called the Distribution Date). Upon the Distribution Date, the holder of each Right not owned by the Acquiring Person would be entitled to purchase common stock at a discount to the initial purchase price of $70.00 per share, effectively equal to one half of the market price of a share of common stock on the date the Acquiring Person becomes an Acquiring Person. If, after the Distribution Date, the Company should consolidate or merge with any other entity and the Company were not the surviving company, or, if the Company were the surviving company, all or part of the Company’s common stock were changed or exchanged into the securities of any other entity, or if more than 50% of the Company’s assets or earning power were sold, each Right would entitle its holder to purchase, at the Rights’ then-current purchase price, a number of shares of the acquiring company’s common stock having a market value at that time equal to twice the Right’s exercise price. At any time after a person or group becomes an Acquiring Person and prior to the acquisition by such person or group of 50% or more of the outstanding common stock, the Board of Directors of the Company may exchange the Rights (other than Rights owned by such person or group which have become void), in whole or in part, at an exchange ratio of one share of common stock per Right (subject to adjustment). At any time prior to 14 days following the date that any person or group becomes an Acquiring Person (subject to extension by the Board of Directors), the Board of Directors of the Company may redeem the then outstanding Rights in whole, but not in part, at a price of $0.005 per Right, subject to adjustment. At various times over the years, our Board of Directors has voted to authorize amendments of the Rights Agreement to extend the Final Expiration Date, which is currently September 19, 2022. Our Board of Directors also has voted to authorize amendments to increase the ownership threshold for determining “Acquiring Person” status to 20%. During the second quarter of 2015, our Board of Directors also voted to authorize an amendment to remove a provision that prevented a new group of directors elected following the emergence of an Acquiring Person (an owner of more than 20% of our stock) from controlling the Rights Plan by maintaining exclusive authority over the Rights Plan with pre-existing directors. We did this because such provisions have come to be viewed with disfavor by Delaware courts. Each time that we made such amendments we entered into amendments to the Rights Agreement with the Rights Agent reflecting such extensions, threshold increases or provision changes. No other changes have been made to the terms of the Rights or the Rights Agreement.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2018
Revenue [Abstract]
REVENUE	13. REVENUE We primarily offer the First Defense ® First Defense ® First Defense ® Dual-Force™ First Defense ® Tri-Shield First Defense ® The following table presents our product sales disaggregated by geographic area: During the Years Ended December 31, 2018 2017 United States $ 9,559,142 $ 8,626,517 Other 1,427,155 1,804,574 Total product sales $ 10,986,297 $ 10,431,091 The following table presents our product sales disaggregated by major product category: During the Years Ended December 31, 2018 2017 First Defense ® $ 10,663,265 $ 9,814,501 Other animal health 298,932 423,790 Other 24,100 192,800 Total product sales $ 10,986,297 $ 10,431,091

Gain on Sale of Assets

Gain on Sale of Assets	12 Months Ended
	Dec. 31, 2018
Gain on Sale of Assets [Abstract]
GAIN ON SALE OF ASSETS	14. GAIN ON SALE OF ASSETS During the third quarter of 2018, we sold the assets underlying our water diagnostic product for $700,000. This sale of assets was recognized as an operating activity at that time in accordance with ASC 610: Other Income Consolidation

Other Expenses, Net

Other Expenses, Net	12 Months Ended
	Dec. 31, 2018
Other Expenses, Net [Abstract]
OTHER EXPENSES, NET	15. OTHER EXPENSES, NET Other expenses, net, consisted of the following: During the Years Ended December 31, 2018 2017 Interest expense $ 427,782 $ 218,571 Interest income (14,301 ) (16,909 ) Other gains — (6,027 ) Other expenses, net $ 413,481 $ 195,635

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Taxes [Abstract]
INCOME TAXES	16. INCOME TAXES Our income tax expense (benefit) aggregated $461,620 and ($270,333) (amounting to 25% and (62%) of our loss before income taxes, respectively) for the years ended December 31, 2018 and 2017, respectively. As of December 31, 2018, we had federal net operating loss carryforwards of $11,839,349 of which $10,127,442 does not expire and $1,711,907 expires in 2034 through 2037 (if not utilized before then) and state net operating loss carryforwards of $3,485,949 that expire in 2037 through 2038 (if not utilized before then). Additionally, we had federal general business tax credit carryforwards of $407,023 that expire in 2027 through 2038 (if not utilized before then) and state tax credit carryforwards of $763,350 that expire in 2023 through 2038 (if not utilized before then). The provision for income taxes is determined using the asset and liability approach of accounting for income taxes. Under this approach, deferred taxes represent the estimated future tax effects of temporary differences between book and tax treatment of assets and liabilities and carryforwards to the extent they are realizable. During the second quarter of 2018, we assessed our historical and near-term future profitability and recorded $563,252 in non-cash income tax expense to create a full valuation allowance against our net deferred tax assets (which consist largely of net operating loss carryforwards and federal and state credits). At that time, we had incurred a net loss for six consecutive quarters, had not been profitable on a year-to-date basis since the nine-month period ended September 30, 2017 and projected additional net losses for some period going forward before returning to profitability. Net operating loss carryforwards, credits, and other tax attributes are subject to review and possible adjustment by the Internal Revenue Service. Section 382 of the Internal Revenue Code contains provisions that could place annual limitations on the future utilization of net operating loss carryforwards and credits in the event of a change in ownership of the Company, as defined. The Company files income tax returns in the U.S. federal jurisdiction and several state jurisdictions. We currently have no tax examinations in progress. We also have not paid additional taxes, interest or penalties as a result of tax examinations nor do we have any unrecognized tax benefits for any of the periods in the accompanying financial statements. The income tax provision consisted of the following: During the Year Ended 2018 2017 Current Federal $ — $ — State (820 ) 14,476 Current subtotal (820 ) 14,476 Deferred Federal (274,495 ) (173,180 ) State (504,072 ) (111,629 ) Deferred subtotal, gross (778,567 ) (284,809 ) Valuation allowance 1,241,007 — Deferred subtotal, net 462,440 (284,809 ) Income tax expense (benefit) $ 461,620 $ (270,333 ) The actual income tax expense (benefit) differs from the expected tax computed by applying the U.S. federal corporate tax rate of 21% and 34% to the loss before income taxes during the years ended December 31, 2018 and 2017 respectively, as follows: During the Year Ended December 31, 2018 2017 $ % $ % Computed expected tax benefit/rate $ (390,610 ) (21.00 )% $ (149,083 ) (34.00 )% State income taxes, net of federal expense 136,843 7.36 30,089 6.86 Share-based compensation 67,181 3.61 55,955 12.76 Tax credits (602,813 ) (32.41 ) (137,983 ) (31.47 ) Deferred tax statutory rate change — — (71,034 ) (16.20 ) Valuation allowance 1,241,007 66.72 — — Other 10,012 0.54 1,723 0.40 Income tax expense (benefit)/rate $ 461,620 24.82 % $ (270,333 ) (61.65 )% The Tax Cuts and Jobs Act was enacted on December 22, 2017. This legislation made significant changes in the U.S. tax laws including a reduction in the corporate tax rates, changes to net operating loss carryforwards and carrybacks, and a repeal of the corporate alternative minimum tax. The legislation reduced the U.S. corporate tax rate from the prior rate of 34% to 21%. As a result of the enacted law, we were required to revalue deferred tax assets and liabilities at the rate enacted in 2017. This revaluation resulted in a benefit of $71,000 to income tax expense in continuing operations and a corresponding increase in the deferred tax assets during 2017. On December 22, 2017, the SEC issued Staff Accounting Bulletin #118 that provides additional guidance and allows companies to apply a measurement period of up to twelve months to account for the impacts of this legislation in their financial statements. The accounting for the transitional impacts of this legislation is now complete. The significant components of our deferred tax assets, net, consisted of the following: As of December 31, 2018 2017 Product rights $ 14,226 $ 29,261 Property, plant and equipment (2,534,799 ) (527,186 ) Federal general business tax credits 407,023 335,486 Federal net operating loss carryforwards 2,486,263 359,764 State tax credits carryover 845,967 242,244 Interest rate swaps (10,052 ) 233 Prepaid expenses and other 13,354 16,355 UNICAP 19,025 16,569 Valuation allowance (1,241,007 ) — Deferred tax assets, net $ — $ 472,726

Contingent Liabilities and Comm

Contingent Liabilities and Commitments	12 Months Ended
	Dec. 31, 2018
Contingent Liabilities and Commitments [Abstract]
CONTINGENT LIABILITIES AND COMMITMENTS	17. CONTINGENT LIABILITIES AND COMMITMENTS Our bylaws, as amended, in effect provide that the Company will indemnify its officers and directors to the maximum extent permitted by Delaware law. In addition, we make similar indemnity undertakings to each director through a separate indemnification agreement with that director. The maximum payment that we may be required to make under such provisions is theoretically unlimited and is impossible to determine. We maintain directors’ and officers’ liability insurance, which may provide reimbursement to the Company for payments made to, or on behalf of, officers and directors pursuant to the indemnification provisions. Our indemnification obligations were grandfathered under the provisions of Codification Topic 460 , Guarantees The development, manufacturing and marketing of animal health care products entails an inherent risk that liability claims will be asserted against us during the normal course of business. We are aware of no such claims against us as of the date of this filing. We feel that we have reasonable levels of liability insurance to support our operations. We enter into agreements with third parties in the ordinary course of business under which we are obligated to indemnify such third parties from and against various risks and losses. The precise terms of such indemnities vary with the nature of the agreement. In many cases, we limit the maximum amount of our indemnification obligations, but in some cases those obligations may be theoretically unlimited. We have not incurred material expenses in discharging any of these indemnification obligations, and based on our analysis of the nature of the risks involved, we believe that the fair value of the liabilities potentially arising under these agreements is minimal. Accordingly, we have recorded no liabilities for such obligations as of December 31, 2018. We are committed to purchasing certain key parts (syringes) and services (final formulation, aseptic filling and final packaging of Drug Product) pertaining to Re-Tain™ Re-Tain™ During the second quarter of 2009, we entered into an exclusive and perpetual (unless terminated for cause) license with the Baylor College of Medicine covering the underlying rotavirus vaccine technology used to generate the specific antibodies for our product line extension, Tri-Shield First Defense ® First Defense ®

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2018
Segment Information [Abstract]
SEGMENT INFORMATION	18. SEGMENT INFORMATION We principally operate in the business segment described in Note 1. Pursuant to Codification Topic 280, Segment Reporting Sales of the First Defense ®

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	19. RELATED PARTY TRANSACTIONS Dr. David S. Tomsche (Chair of our Board of Directors) is a controlling owner of Leedstone Inc., a domestic distributor of ImmuCell products (the First Defense ® CMT

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2018
Employee Benefits [Abstract]
EMPLOYEE BENEFITS	20. EMPLOYEE BENEFITS We have a 401(k) savings plan (the Plan) in which all employees completing one month of service with the Company are eligible to participate. Participants may contribute up to the maximum amount allowed by the Internal Revenue Service. We currently match 100% of the first 3% of each employee’s salary that is contributed to the Plan and 50% of the next 2% of each employee’s salary that is contributed to the Plan. Under this matching plan, we paid $104,843 and $87,521 into the plan for the years ended December 31, 2018 and 2017, respectively.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	21. SUBSEQUENT EVENTS We have evaluated subsequent events through the time of filing on March 22, 2019, the date we have issued this Annual Report on Form 10-K. As of such date, there were no material, reportable subsequent events.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	(a) Basis of Presentation We have prepared the accompanying audited financial statements reflecting all adjustments that are, in our opinion, necessary in order to ensure that the financial statements are not misleading. We follow accounting standards set by the Financial Accounting Standards Board (FASB). The FASB sets generally accepted accounting principles (GAAP) that we follow to ensure we consistently report our financial condition, results of operations, earnings per share and cash flows. References to GAAP in these footnotes are to the FASB Accounting Standards Codification
Cash and Cash Equivalents	(b) Cash and Cash Equivalents We consider all highly liquid investment instruments that mature within three months of their purchase dates to be cash equivalents. Cash equivalents are principally invested in securities backed by the U.S. government. Certain cash balances in excess of Federal Deposit Insurance Corporation (FDIC) limits of $250,000 per financial institution per depositor are maintained in money market accounts at financial institutions that are secured, in part, by the Securities Investor Protection Corporation. Amounts in excess of these FDIC limits per bank that are not invested in securities backed by the U.S. government aggregated $2,268,737 and $3,546,529 as of December 31, 2018 and 2017, respectively. We account for investments in marketable securities in accordance with Codification Topic 320, Investments — Debt and Equity Securities
Accounts Receivable	(c) Accounts Receivable Accounts receivable are carried at the original invoice amount less an estimate made for doubtful collection. Management determines the allowance for doubtful accounts on a monthly basis by identifying troubled accounts and by using historical experience applied to an aging of accounts. Accounts receivable are considered to be past due if a portion of the receivable balance is outstanding for more than 30 days. Past due accounts receivable are subject to an interest charge. Accounts receivable are written off when deemed uncollectible. The amount of accounts receivable written off during all periods reported was immaterial. Recoveries of accounts receivable previously written off are recorded as income when received. As of December 31, 2018 and 2017, we determined that no allowance for bad debt was necessary. See Note 4.
Inventory	(d) Inventory Inventory includes raw materials, work-in-process and finished goods and is recorded at the lower of cost, on the first-in, first-out method, or net realizable value (determined as the estimated selling price in the normal course of business, less reasonably predictable costs of completion, disposal and transportation). Work-in-process and finished goods inventories include materials, labor and manufacturing overhead. At each monthly balance sheet date, we evaluate our ending inventories for excess quantities and obsolescence. Inventories that we consider excess or obsolete are reserved. Once inventory is written down and a new cost basis is established, it is not written back up if demand increases. We believe that supplies and raw materials for the production of our products are available from more than one vendor or farm. Our policy is to maintain more than one source of supply for the components used in our products when practicable. See Note 5.
Property, Plant and Equipment	(e) Property, Plant and Equipment We depreciate property, plant and equipment on the straight-line method by charges to operations and costs of goods sold in amounts estimated to expense the cost of the assets from the date they are first put into service to the end of the estimated useful lives of the assets. The facility we have constructed to produce the active pharmaceutical ingredient, Nisin, is being depreciated over 39 years from when a certificate of occupancy was issued during the fourth quarter of 2017. We began depreciating the equipment for our Nisin production facility when it was placed in service during the third quarter of 2018. Approximately 89% of these assets are being depreciated over ten years. Significant repairs to fixed assets that benefit more than a current period are capitalized and depreciated over their useful lives. Insignificant repairs are expensed when incurred. See Note 7.
Intangible Assets and Goodwill	(f) Intangible Assets and Goodwill We amortize intangible assets on the straight-line method by charges to costs of goods sold in amounts estimated to expense the cost of the assets from the date they are first put into service to the end of the estimated useful lives of the assets. We have recorded intangible assets related to customer relationships, non-compete agreements, and developed technology, each with defined useful lives. We have classified as goodwill the amounts paid in excess of fair value of the net assets (including tax attributes) acquired in purchase transactions. We assess the impairment of intangible assets and goodwill that have indefinite lives at the reporting unit level on an annual basis (as of December 31 st
Fair Value Measurements	(g) Fair Value Measurements In determining fair value measurements, we follow the provisions of Codification Topic 820, Fair Value Measurements and Disclosures Level 2 inputs. The estimated fair value of our bank debt facilities approximates their carrying value based on similar instruments with similar maturities. The three-level hierarchy is as follows: Level 1 — Pricing inputs are quoted prices available in active markets for identical assets or liabilities as of the measurement date. Level 2 — Pricing inputs are quoted prices for similar assets or liabilities, or inputs that are observable, either directly or indirectly, for substantially the full term through corroboration with observable market data. Level 3 — Pricing inputs are unobservable for the assets or liabilities, that is, inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. From time to time, we also hold money market mutual funds in a brokerage account, which are classified as cash equivalents and measured at fair value. The fair value of these investments is based on their closing published net asset value. We assess the levels of the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with our accounting policy regarding the recognition of transfers between levels of the fair value hierarchy. During the years ended December 31, 2018 and 2017, there were no transfers between levels. As of December 31, 2018 and 2017, our Level 1 assets measured at fair value by quoted prices in active markets consisted of bank savings accounts and money market funds. As of December 31, 2018 and 2017, our interest rate swaps were classified as Level 2 and were measured by observable market data in combination with expected cash flows for each instrument. There were no assets or liabilities measured at fair value on a nonrecurring basis as of December 31, 2018 or 2017. As of December 31, 2018 Level 1 Level 2 Level 3 Total Assets: Cash and money market accounts $ 2,521,050 $ — $ — $ 2,521,050 Interest rate swaps — 40,209 — 40,209 Total $ 2,521,050 $ 40,209 $ — $ 2,561,259 As of December 31, 2017 Level 1 Level 2 Level 3 Total Assets: Cash and money market accounts $ 3,798,811 $ — $ — $ 3,798,811 Liabilities: Interest rate swaps — (996 ) — (996 ) Total $ 3,798,811 $ (996 ) $ — $ 3,797,815
Valuation of Long-Lived Assets	(h) Valuation of Long-Lived Assets We periodically evaluate our long-lived assets, consisting principally of fixed assets and amortizable intangible assets, for potential impairment. In accordance with the applicable accounting guidance for the treatment of long-lived assets, we review the carrying value of our long-lived assets or asset group that is held and used, including intangible assets subject to amortization, for impairment whenever events and circumstances indicate that the carrying value of the assets may not be recoverable. Under the held for use approach, the asset or asset group to be tested for impairment should represent the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. We evaluate our long-lived assets whenever events or circumstances suggest that the carrying amount of an asset or group of assets may not be recoverable. No impairment was recognized during the years ended December 31, 2018 and 2017.
Concentration of Risk	(i) Concentration of Risk Concentration of credit risk with respect to accounts receivable is principally limited to certain customers to whom we make substantial sales. To reduce risk, we routinely assess the financial strength of our customers and, as a consequence, believe that our accounts receivable credit risk exposure is limited. We maintain an allowance for potential credit losses when deemed necessary, but historically we have not experienced significant credit losses related to an individual customer or groups of customers in any particular industry or geographic area. Sales to significant customers that amounted to 10% or more of total product sales are detailed in the following table: During the Years Ended December 31, 2018 2017 Animal Health International, Inc. 43 % 42 % MWI Animal Health 23 % 22 % Trade accounts receivable due from significant customers amounted to the percentages of total trade accounts receivable as detailed in the following table: As of December 31, 2018 As of December 31, 2017 MWI Animal Health 36 % 29 % Animal Health International, Inc. 35 % 40 % ANIMART LLC 15 % * * Amount is less than 10%
Interest Rate Swap Agreements	(j) Interest Rate Swap Agreements All derivatives are recognized on the balance sheet at their fair value. We entered into interest rate swap agreements in 2010 and 2015. On the dates the agreements were entered into, we designated the derivatives as hedges of the variability of cash flows to be paid related to our long-term debt. The agreements have been determined to be highly effective in hedging the variability of identified cash flows, so changes in the fair market value of the interest rate swap agreements are recorded as comprehensive income (loss), until earnings are affected by the variability of cash flows (e.g., when periodic settlements on a variable-rate asset or liability are recorded in earnings). We formally documented the relationship between the interest rate swap agreements and the related hedged items. We also formally assess, both at the interest rate swap agreements’ inception and on an ongoing basis, whether the agreements are highly effective in offsetting changes in cash flow of hedged items. See Note 11.
Revenue Recognition	(k) Revenue Recognition We sell products that provide to newborn dairy and beef cattle. For periods ended on and before December 31, 2017, we recognized revenue in accordance with Accounting Standards Codification (ASC) 605 when four criteria were met. These included i) persuasive evidence that an arrangement existed, ii) delivery had occurred, iii) our price was fixed and determinable and iv) collectability was reasonably assured. For periods beginning on or after January 1, 2018, we recognize revenue in accordance with ASC 606, Revenue from Contracts with Customers
Expense Recognition	(l) Expense Recognition In 2018, we adopted ASC 340-40, Accounting for Other Assets and Deferred Costs
Income Taxes	(m) Income Taxes We account for income taxes in accordance with Codification Topic 740, Income Taxes During the second quarter of 2018, we assessed our historical and near-term future profitability and decided to record $563,252 in non-cash income tax expense to create a full valuation allowance against our net deferred tax assets (which consist largely of net operating loss carryforwards and federal and state tax credits). At that time, we had incurred a net loss for six consecutive quarters, had not been profitable on a year-to-date basis since the nine-month period ended September 30, 2017 and projected additional net losses for some period going forward before returning to profitability. Codification Topic 740-10 clarifies the accounting for income taxes by prescribing a minimum recognition threshold that a tax position must meet before being recognized in the financial statements. In the ordinary course of business, there are transactions and calculations where the ultimate tax outcome is uncertain. In addition, we are subject to periodic audits and examinations by the Internal Revenue Service and other taxing authorities. With few exceptions, we are no longer subject to income tax examinations by tax authorities for years before 2015. We have evaluated the positions taken on our filed tax returns. We have concluded that no uncertain tax positions exist as of December 31, 2018 or 2017. Although we believe that our estimates are reasonable, actual results could differ from these estimates. See Note 16.
Stock-Based Compensation	(n) Stock-Based Compensation We account for stock-based compensation in accordance with Codification Topic 718, Compensation-Stock Compensation
Net Loss Per Common Share	(o) Net Loss Per Common Share Net loss per common share has been computed in accordance with Codification Topic 260-10, Earnings Per Share.
Use of Estimates	(p) Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Although we regularly assess these estimates, actual amounts could differ from those estimates. Changes in estimates are recorded during the period in which they become known. Significant estimates include our inventory valuation, valuation of goodwill and long-lived assets, valuation of deferred tax assets, accrued expenses, costs of goods sold, and useful lives of intangible assets.
New Accounting Pronouncements	(q) New Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) Codification improvements to Topic 842, Leases. Topic 842, Leases - Targeted improvements. In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718) Scope of Modification Accounting In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Schedule of financial assets measured at fair value on nonrecurring basis	As of December 31, 2018 Level 1 Level 2 Level 3 Total Assets: Cash and money market accounts $ 2,521,050 $ — $ — $ 2,521,050 Interest rate swaps — 40,209 — 40,209 Total $ 2,521,050 $ 40,209 $ — $ 2,561,259 As of December 31, 2017 Level 1 Level 2 Level 3 Total Assets: Cash and money market accounts $ 3,798,811 $ — $ — $ 3,798,811 Liabilities: Interest rate swaps — (996 ) — (996 ) Total $ 3,798,811 $ (996 ) $ — $ 3,797,815
Schedule of sales to significant customers	During the Years Ended December 31, 2018 2017 Animal Health International, Inc. 43 % 42 % MWI Animal Health 23 % 22 %
Schedule of accounts receivable due from significant customers	As of December 31, 2018 As of December 31, 2017 MWI Animal Health 36 % 29 % Animal Health International, Inc. 35 % 40 % ANIMART LLC 15 % * * Amount is less than 10%

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2018
Inventory [Abstract]
Schedule of inventory	As of December 31, 2018 As of December 31, 2017 Raw materials $ 338,991 $ 483,329 Work-in-process 1,337,035 1,349,649 Finished goods 655,645 216,754 Total $ 2,331,671 $ 2,049,732

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Prepaid Expenses and Other Current Assets [Abstract]
Schedule of prepaid expenses and other current assets	As of December 31, 2018 As of December 31, 2017 Prepaid expenses $ 142,528 $ 130,813 Other receivables (1) 493,289 149,590 Security deposits (2) - 34,264 Total $ 635,817 $ 314,667 (1) This amount as of December 31, 2018 includes $450,000 due from a third party for the sale of assets. See Note 14. (2) This amount as of December 31, 2017 represents the current portion of escrow funds held against certain construction performance requirements that was released during the fourth quarter of 2018.

Property, Plant And Equipment_2

Property, Plant And Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant And Equipment, Net [Abstract]
Schedule of property, plant and equipment	Estimated Useful Lives (in years) As of December 31, 2018 As of December 31, 2017 Laboratory and manufacturing equipment 3-10 $ 15,092,252 $ 5,511,452 Building and improvements 10-39 17,018,316 16,966,728 Office furniture and equipment 3-10 731,510 698,877 Construction in progress n/a 91,067 8,315,436 Land n/a 516,867 518,999 Property, plant and equipment, gross 33,450,012 32,011,492 Accumulated depreciation (7,422,463 ) (5,941,803 ) Property, plant and equipment, net $ 26,027,549 $ 26,069,689

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Intangible Assets [Abstract]
Schedule of intangible amortization expense	Period Amount Year ending December 31, 2019 $ 19,104 Year ending December 31, 2020 19,104 Year ending December 31, 2021 19,104 Year ending December 31, 2022 19,104 Year ending December 31, 2023 19,104 After December 31, 2023 38,208 Total $ 133,728
Schedule of intangible assets	Intangible assets as of December 31, 2018 consisted of the following: Gross Carrying Value Accumulated Amortization Net Book Value Developed technology $ 184,100 $ (55,230 ) $ 128,870 Customer relationships 1,300 (390 ) 910 Non-compete agreements 5,640 (1,692 ) 3,948 Total $ 191,040 $ (57,312 ) $ 133,728 Intangible assets as of December 31, 2017 consisted of the following: Gross Carrying Value Accumulated Amortization Net Book Value Developed technology $ 184,100 $ (36,820 ) $ 147,280 Customer relationships 1,300 (260 ) 1,040 Non-compete agreements 5,640 (1,128 ) 4,512 Total $ 191,040 $ (38,208 ) $ 152,832

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2018
Accounts Payable and Accrued Expenses [Abstract]
Schedule of accounts payable and accrued expenses	As of December 31, 2018 As of December 31, 2017 Accounts payable – trade $ 531,048 $ 580,456 Accounts payable – capital 72,695 641,389 Accrued payroll 358,451 254,743 Accrued professional fees 93,050 64,200 Accrued other 165,416 182,482 Total $ 1,220,660 $ 1,723,270

Bank Debt (Tables)

Bank Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Bank Debt [Abstract]
Schedule of interest rate swaps classified as level 2 fair value	During the Years Ended December 31, 2018 2017 Payments required by interest rate swaps $ 9,581 $ 37,502 Other comprehensive income, net of taxes $ 30,795 $ 23,264
Schedule of debt proceeds received and principal repayments made during the year	During the Year Ended December 31, 2018 During the Year Ended December 31, 2017 Proceeds from Debt Issuance Debt Principal Repayments Proceeds from Debt Issuance Debt Principal Repayments Loan #1 $ — $ (64,876 ) $ — $ (61,056 ) Loan #2 — (86,097 ) — (82,308 ) Loan #3 426,499 (140,714 ) 3,513,501 — Loan #4 267,141 (96,000 ) 2,292,859 — Loan #5 — (10,621 ) 340,000 (8,612 ) Total $ 693,640 $ (398,308 ) $ 6,146,360 $ (151,976 )
Schedule of principal payments due under debt outstanding	Year ending 12/31/2019 Year ending 12/31/2020 Year ending 12/31/2021 Year ending 12/31/2022 Year Ending 12/31/2023 After 12/31/2023 Total Loan #1 $ 68,908 $ 493,696 $ — $ — $ — $ — $ 562,604 Loan #2 89,997 94,005 98,538 103,077 107,769 1,740,382 2,233,768 Loan #3 (1) 562,857 562,857 562,857 562,857 562,857 985,001 3,799,286 Loan #4 (1) 128,000 128,000 128,000 128,000 128,000 1,824,000 2,464,000 Loan #5 (2) 11,564 12,102 12,664 13,253 13,869 257,315 320,767 Subtotal $ 861,326 $ 1,290,660 $ 802,059 $ 807,187 $ 812,495 $ 4,806,698 9,380,425 Debt Issuance Costs (114,587 ) Total $ 9,265,838 (1) These notes bear interest at a variable rate equal to the one-month LIBOR plus a margin of 2.25%. Figures in this table are estimated using an interest rate of approximately 4.60%. The actual interest rate and principal payments will be different. (2) This note bears interest at a variable rate equal to the one-month LIBOR plus a margin of 2.25%. Figures in this table are estimated using an interest rate of approximately 4.55%. The actual interest rate and principal payments will be different.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2018
Stockholders' Equity [Abstract]
Schedule of activity under the stock option plans	2000 Plan 2010 Plan 2017 Plan Weighted Average Exercise Price Aggregate Intrinsic Value (1) Outstanding at December 31, 2016 126,500 124,500 — $ 3.89 $ 516,990 Grants — 141,000 — $ 5.92 Terminations (5,000 ) (16,000 ) — $ 5.68 Exercises (4,000 ) (7,000 ) — $ 3.47 Outstanding at December 31, 2017 117,500 242,500 — $ 4.58 $ 1,513,980 Grants — 48,500 122,500 $ 7.38 Terminations — (19,000 ) (11,000 ) $ 6.63 Exercises (105,000 ) (2,000 ) — $ 1.89 Outstanding at December 31, 2018 12,500 270,000 111,500 $ 6.37 $ 266,020 Vested at December 31, 2018 12,500 47,500 — $ 4.90 $ 129,110 Vested and expected to vest at December 31, 2018 12,500 270,000 111,500 $ 6.37 $ 266,020 Reserved for future grants — 1,000 188,500 (1) Intrinsic value is the difference between the fair market value as of the date indicated and as of the date of the option grant.
Schedule of additional information about the stock option plans	Number of Weighted Weighted Non-vested stock options as of January 1, 2018 205,000 $ 3.49 $ 6.07 Non-vested stock options as of December 31, 2018 334,000 $ 3.63 $ 6.64 Stock options granted during the year ended December 31, 2018 171,000 $ 3.83 $ 7.38 Stock options that vested during the year ended December 31, 2018 12,000 $ 3.55 $ 7.52 Stock options that were forfeited during the year ended December 31, 2018 30,000 $ 3.78 $ 6.63
Schedule of fair value stock option grant using black-scholes option valuation model with the weighted-average assumptions	For the Year Ended For the Year Ended Risk-free interest rate 2.6 % 1.9 % Dividend yield 0 % 0 % Expected volatility 56 % 61 % Expected life 5.4 years 6.5 years

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2018
Major Product Category [Member]
Disaggregation of Revenue [Line Items]
Schedule of revenue disaggregated by geographic area and major product category	During the Years Ended December 31, 2018 2017 First Defense ® $ 10,663,265 $ 9,814,501 Other animal health 298,932 423,790 Other 24,100 192,800 Total product sales $ 10,986,297 $ 10,431,091
Geographical [Member]
Disaggregation of Revenue [Line Items]
Schedule of revenue disaggregated by geographic area and major product category	During the Years Ended December 31, 2018 2017 United States $ 9,559,142 $ 8,626,517 Other 1,427,155 1,804,574 Total product sales $ 10,986,297 $ 10,431,091

Other Expenses, Net (Tables)

Other Expenses, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Other Expenses, Net [Abstract]
Schedule of other expenses, net	During the Years Ended December 31, 2018 2017 Interest expense $ 427,782 $ 218,571 Interest income (14,301 ) (16,909 ) Other gains — (6,027 ) Other expenses, net $ 413,481 $ 195,635

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Taxes [Abstract]
Schedule of he income tax provision	During the Year Ended 2018 2017 Current Federal $ — $ — State (820 ) 14,476 Current subtotal (820 ) 14,476 Deferred Federal (274,495 ) (173,180 ) State (504,072 ) (111,629 ) Deferred subtotal, gross (778,567 ) (284,809 ) Valuation allowance 1,241,007 — Deferred subtotal, net 462,440 (284,809 ) Income tax expense (benefit) $ 461,620 $ (270,333 )
Schedule of actual income tax expense (benefit) differs from the expected tax	During the Year Ended December 31, 2018 2017 $ % $ % Computed expected tax benefit/rate $ (390,610 ) (21.00 )% $ (149,083 ) (34.00 )% State income taxes, net of federal expense 136,843 7.36 30,089 6.86 Share-based compensation 67,181 3.61 55,955 12.76 Tax credits (602,813 ) (32.41 ) (137,983 ) (31.47 ) Deferred tax statutory rate change — — (71,034 ) (16.20 ) Valuation allowance 1,241,007 66.72 — — Other 10,012 0.54 1,723 0.40 Income tax expense (benefit)/rate $ 461,620 24.82 % $ (270,333 ) (61.65 )%
Schedule of components of our deferred tax assets, net	As of December 31, 2018 2017 Product rights $ 14,226 $ 29,261 Property, plant and equipment (2,534,799 ) (527,186 ) Federal general business tax credits 407,023 335,486 Federal net operating loss carryforwards 2,486,263 359,764 State tax credits carryover 845,967 242,244 Interest rate swaps (10,052 ) 233 Prepaid expenses and other 13,354 16,355 UNICAP 19,025 16,569 Valuation allowance (1,241,007 ) — Deferred tax assets, net $ — $ 472,726

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Assets:
Cash and money market accounts	$ 2,521,050	$ 3,798,811
Interest rate swaps	40,209
Liabilities:
Interest rate swaps		(996)
Total	2,561,259	3,797,815
Level 1 [Member]
Assets:
Cash and money market accounts	2,521,050	3,798,811
Interest rate swaps
Liabilities:
Interest rate swaps
Total	2,521,050	3,798,811
Level 2 [Member]
Assets:
Cash and money market accounts
Interest rate swaps	40,209
Liabilities:
Interest rate swaps		(996)
Total	40,209	(996)
Level 3 [Member]
Assets:
Cash and money market accounts
Interest rate swaps
Liabilities:
Interest rate swaps
Total

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Animal Health International, Inc. [Member]
Revenue, Major Customer [Line Items]
Concentration risk percentage	43.00%	42.00%
MWI Animal Health [Member]
Revenue, Major Customer [Line Items]
Concentration risk percentage	23.00%	22.00%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details 2)	Dec. 31, 2018	Dec. 31, 2017
MWI Animal Health [Member]
Revenue, Major Customer [Line Items]
Accounts receivable due from significant customers	36.00%	29.00%
Animal Health International, Inc. [Member]
Revenue, Major Customer [Line Items]
Accounts receivable due from significant customers	35.00%	40.00%
ANIMART LLC [Member]
Revenue, Major Customer [Line Items]
Accounts receivable due from significant customers	15.00%		[1]
[1]	Amount is less than 10%.

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Summary of Significant Accounting Policies (Textual)
Federal deposit insurance corporation limits		$ 250,000
Property, plant and equipment, description		The facility we have constructed to produce the active pharmaceutical ingredient, Nisin, is being depreciated over 39 years from when a certificate of occupancy was issued during the fourth quarter of 2017. We began depreciating the equipment for our Nisin production facility when it was placed in service during the third quarter of 2018. Approximately 89% of these assets are being depreciated over ten years.
Concentration risk percentage, description		Sales to significant customers that amounted to 10% or more of total product sales.
U.S. government aggregated amount		$ 2,268,737	$ 3,546,529
Advertising expenses		28,415	55,263
Stock-based compensation		$ 344,016	$ 199,783
Non-cash income tax expense to create a full valuation allowance against our net deferred tax assets	$ 563,252
Weighted average number of shares outstanding		5,486,154	4,949,213
Outstanding stock options not included in the calculation because the effect would be anti-dilutive		394,000	360,000

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash and Cash Equivalents (Textual)
Debt covenant, description	Debt covenant to maintain at least $2,000,000 of otherwise unrestricted cash, cash equivalents and short-term investments.
Cash and cash equivalents	$ 2,521,050	$ 3,798,811	$ 5,150,344

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Schedule of accounts receivable
Trade accounts receivable, net	$ 932,298	$ 1,344,022

Inventory (Details)

Inventory (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Schedule of inventory
Raw materials	$ 338,991	$ 483,329
Work-in-process	1,337,035	1,349,649
Finished goods	655,645	216,754
Total	$ 2,331,671	$ 2,049,732

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) - USD ($)		Dec. 31, 2018	Dec. 31, 2017
Prepaid Expenses and Other Current Assets [Abstract]
Prepaid expenses		$ 142,528	$ 130,813
Other receivables	[1]	493,289	149,590
Security deposits	[2]		34,264
Total		$ 635,817	$ 314,667
[1]	This amount as of December 31, 2018 includes $450,000 due from a third party for the sale of assets. See Note 14.
[2]	This amount as of December 31, 2017 represents the current portion of escrow funds held against certain construction performance requirements that was released during the fourth quarter of 2018.

Prepaid Expenses and Other Cu_4

Prepaid Expenses and Other Current Assets (Details Textual)	Dec. 31, 2018USD ($)
Prepaid Expenses and Other Current Assets [Abstract]
Due from a third party	$ 450,000

Property, Plant And Equipment_3

Property, Plant And Equipment, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 33,450,012	$ 32,011,492
Accumulated depreciation	(7,422,463)	(5,941,803)
Property, plant and equipment, net	26,027,549	26,069,689
Laboratory and manufacturing equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 15,092,252	5,511,452
Laboratory and manufacturing equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Estimated Useful Lives	3 years
Laboratory and manufacturing equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Estimated Useful Lives	10 years
Building and improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 17,018,316	16,966,728
Building and improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Estimated Useful Lives	10 years
Building and improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Estimated Useful Lives	39 years
Office furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 731,510	698,877
Office furniture and equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Estimated Useful Lives	3 years
Office furniture and equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Estimated Useful Lives	10 years
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 91,067	8,315,436
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 516,867	$ 518,999

Property, Plant And Equipment_4

Property, Plant And Equipment, Net (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment (Textual)
Property, plant and equipment, disposals	$ 22,681	$ 435,448
Depreciation expense	$ 1,501,607	$ 885,331

Business Acquisition (Details)

Business Acquisition (Details) - USD ($)	Jan. 04, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2016
Business Acquisition (Textual)
Total purchase price	$ 532,000
Amount paid on acquisition	368,000
Technology transfer payment					$ 97,000
Aggregate royalties payment	67,000
Estimated fair values of accounts payable and accrued expenses		$ 8,914
Royalty expense		$ 17,268	$ 10,615	$ 8,200
Estimated fair values of inventory	113,000
Estimated fair values of machinery and equipment	132,000
Estimated fair values of intangible assets	191,000
Estimated fair values of goodwill	$ 96,000

Intangible Assets (Details)

Intangible Assets (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Summary of intangible amortization expense
Year ending December 31, 2019	$ 19,104
Year ending December 31, 2020	19,104
Year ending December 31, 2021	19,104
Year ending December 31, 2022	19,104
Year ending December 31, 2023	19,104
After December 31, 2023	38,208
Total	$ 133,728	$ 152,832

Intangible Assets (Details 1)

Intangible Assets (Details 1) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 191,040	$ 191,040
Accumulated Amortization	(57,312)	(38,208)
Net Book Value	133,728	152,832
Developed technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	184,100	184,100
Accumulated Amortization	(55,230)	(36,820)
Net Book Value	128,870	147,280
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	1,300	1,300
Accumulated Amortization	(390)	(260)
Net Book Value	910	1,040
Non-compete agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	5,640	5,640
Accumulated Amortization	(1,692)	(1,128)
Net Book Value	$ 3,948	$ 4,512

Intangible Assets (Details Text

Intangible Assets (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Intangible Assets (Textual)
Intangible amortization expense	$ 19,104	$ 19,104
Intangible asset amortized, useful lives	10 years
Net value	$ 133,728	$ 152,832

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Accounts Payable and Accrued Expenses [Abstract]
Accounts payable - trade	$ 531,048	$ 580,456
Accounts payable - capital	72,695	641,389
Accrued payroll	358,451	254,743
Accrued professional fees	93,050	64,200
Accrued other	165,416	182,482
Total	$ 1,220,660	$ 1,723,270

Bank Debt (Details)

Bank Debt (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Bank Debt [Abstract]
Payments required by interest rate swaps	$ 9,581	$ 37,502
Other comprehensive income, net of taxes	$ 30,795	$ 23,264

Bank Debt (Details 1)

Bank Debt (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Proceeds from Debt Issuance	$ 693,640	$ 6,146,360
Debt Principal Repayments	(398,308)	(151,976)
Loan #1 [Member]
Debt Instrument [Line Items]
Proceeds from Debt Issuance
Debt Principal Repayments	(64,876)	(61,056)
Loan #2 [Member]
Debt Instrument [Line Items]
Proceeds from Debt Issuance
Debt Principal Repayments	(86,097)	(82,308)
Loan #3 [Member]
Debt Instrument [Line Items]
Proceeds from Debt Issuance	426,499	3,513,501
Debt Principal Repayments	(140,714)
Loan #4 [Member]
Debt Instrument [Line Items]
Proceeds from Debt Issuance	267,141	2,292,859
Debt Principal Repayments	(96,000)
Loan #5 [Member]
Debt Instrument [Line Items]
Proceeds from Debt Issuance		340,000
Debt Principal Repayments	$ (10,621)	$ (8,612)

Bank Debt (Details 2)

Bank Debt (Details 2)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Year ending 12/31/2019	$ 861,326
Year ending 12/31/2020	1,290,660
Year ending 12/31/2021	802,059
Year ending 12/31/2022	807,187
Year ending 12/31/2023	812,495
After 12/31/2023	4,806,698
Subtotal	9,380,425
Debt Issuance Costs	(114,587)
Total	9,265,838
Loan #1 [Member]
Debt Instrument [Line Items]
Year ending 12/31/2019	68,908
Year ending 12/31/2020	493,696
Year ending 12/31/2021
Year ending 12/31/2022
Year ending 12/31/2023
After 12/31/2023
Subtotal	562,604
Loan #2 [Member]
Debt Instrument [Line Items]
Year ending 12/31/2019	89,997
Year ending 12/31/2020	94,005
Year ending 12/31/2021	98,538
Year ending 12/31/2022	103,077
Year ending 12/31/2023	107,769
After 12/31/2023	1,740,382
Subtotal	2,233,768
Loan #3 [Member]
Debt Instrument [Line Items]
Year ending 12/31/2019	562,857	[1]
Year ending 12/31/2020	562,857	[1]
Year ending 12/31/2021	562,857	[1]
Year ending 12/31/2022	562,857	[1]
Year ending 12/31/2023	562,857	[1]
After 12/31/2023	985,001	[1]
Subtotal	3,799,286	[1]
Loan #4 [Member]
Debt Instrument [Line Items]
Year ending 12/31/2019	128,000	[1]
Year ending 12/31/2020	128,000	[1]
Year ending 12/31/2021	128,000	[1]
Year ending 12/31/2022	128,000	[1]
Year ending 12/31/2023	128,000	[1]
After 12/31/2023	1,824,000	[1]
Subtotal	2,464,000	[1]
Loan #5 [Member]
Debt Instrument [Line Items]
Year ending 12/31/2019	11,564	[2]
Year ending 12/31/2020	12,102	[2]
Year ending 12/31/2021	12,664	[2]
Year ending 12/31/2022	13,253	[2]
Year ending 12/31/2023	13,869	[2]
After 12/31/2023	257,315	[2]
Subtotal	$ 320,767	[2]
[1]	These notes bear interest at a variable rate equal to the one-month LIBOR plus a margin of 2.25%. Figures in this table are estimated using an interest rate of approximately 4.60%. The actual interest rate and principal payments will be different.
[2]	This note bears interest at a variable rate equal to the one-month LIBOR plus a margin of 2.25%. Figures in this table are estimated using an interest rate of approximately 4.55%. The actual interest rate and principal payments will be different.

Bank Debt (Details Textual)

Bank Debt (Details Textual)	3 Months Ended				12 Months Ended
	Mar. 31, 2017USD ($)ft²CreditFacilities	Mar. 31, 2016USD ($)CreditFacilities	Sep. 30, 2015USD ($)	Sep. 30, 2010USD ($)	Dec. 31, 2018USD ($)CreditFacilities	Dec. 31, 2017USD ($)
Bank Debt (Textual)
Number of credit facilities | CreditFacilities					5
Debt issue costs					$ 1,971	$ 66,101
Unrestricted cash, cash equivalents and short-term investments					$ 2,000,000
Credit Facilities [Member]
Bank Debt (Textual)
Number of credit facilities | CreditFacilities	2	2
Credit facility aggregate value	$ 6,500,000	$ 4,500,000
Variable interest rate with LIBOR, description					These notes bear interest at a variable rate equal to the one-month LIBOR plus a margin of 2.25%.
Variable interest rate					4.60%
Debt issue costs	68,072	$ 46,734	$ 34,125	$ 26,489
Outstanding under line of credit					$ 500,000
Credit Facilities One [Member]
Bank Debt (Textual)
Variable interest rate with LIBOR, description					This note bears interest at a variable rate equal to the one-month LIBOR plus a margin of 2.25%.
Variable interest rate					4.55%
Interest rate swaps [Member]
Bank Debt (Textual)
Variable interest rate with LIBOR, description					Interest rate exposures on Loan #1 and Loan #2 with interest rate swap agreements that effectively converted floating interest rates based on the one-month LIBOR plus a margin of 3.25% and 2.25% to the fixed rates of 6.04% and 4.38%, respectively. As of December 31, 2018, the variable rates on these two mortgage notes were 5.68% and 4.73%, respectively.
Original notional amount					$ 2,796,372
Interest rate swaps [Member] | Loan One [Member]
Bank Debt (Textual)
Variable interest rate					5.68%
Original notional amount					$ 1,000,000
Interest rate swaps [Member] | Mortgage Loan Two [Member]
Bank Debt (Textual)
Variable interest rate					4.73%
Original notional amount					$ 2,500,000
TD Bank N.A. [Member] | Loan One [Member]
Bank Debt (Textual)
Maximum limit on issuance of loan, rate				80.00%
Proceeds from issuance of loan				$ 1,000,000
Interest payments, term				10 years
Loan amortization, term				15 years
Balloon principal payment				$ 451,885
Balloon principal payment due, description				Due during the third quarter of 2020.
Outstanding amount of loan					562,604
TD Bank N.A. [Member] | Mortgage Loan Two [Member]
Bank Debt (Textual)
Proceeds from issuance of loan			$ 2,500,000
Interest payments, term			10 years
Loan amortization, term			20 years
Balloon principal payment			$ 1,550,000
Balloon principal payment due, description			Due during the third quarter of 2025.
Outstanding amount of loan					$ 2,233,768
TD Bank N.A. [Member] | Construction Loan Three [Member]
Bank Debt (Textual)
Maximum limit on issuance of loan, rate					80.00%
Proceeds from issuance of loan					$ 3,799,286
Loan amortization, term					7 years
Outstanding amount of loan					$ 3,940,000
Variable interest rate with LIBOR, description					Variable rate equal to the one-month LIBOR (adjusted at each monthly payment date) plus a margin of 2.25% through September 2018, at which time the loan converted to a seven-year term loan facility at the same variable interest rate (which was equal to 4.60% as of December 31, 2018).
Loan conversion, term					7 years
TD Bank N.A. [Member] | Construction Loan Four [Member]
Bank Debt (Textual)
Maximum limit on issuance of loan, description					Not to exceed 80% (75% prior to the 2017 amendments).
Proceeds from issuance of loan					$ 2,560,000
Interest payments, term					10 years
Loan amortization, term					20 years
Balloon principal payment					$ 1,408,000
Balloon principal payment due, description					Due during the first quarter of 2027.
Outstanding amount of loan					$ 2,464,000
Variable interest rate with LIBOR, description					Variable rate equal to the one-month LIBOR (adjusted at each monthly payment date) plus a margin of 2.25% through March 2018, at which time the loan converted to a term loan facility at the same variable interest rate (which was equal to 4.60% as of December 31, 2018).
TD Bank N.A. [Member] | Mortgage Loan Five [Member]
Bank Debt (Textual)
Proceeds from issuance of loan	$ 340,000
Interest payments, term	10 years
Loan amortization, term	20 years
Balloon principal payment	$ 208,000
Balloon principal payment due, description	Due during the first quarter of 2027.
Outstanding amount of loan					$ 320,767
Variable interest rate with LIBOR, description	Variable rate equal to the one-month LIBOR (adjusted at each monthly payment date) plus a margin of 2.25% (which was equal to 4.71% as of December 31, 2018).
Warehouse and storage facility | ft²	4,114
TD Bank N.A. [Member] | Credit Facilities [Member]
Bank Debt (Textual)
Credit facility aggregate value				$ 500,000
Variable interest rate with LIBOR, description				Interest on borrowings against the line of credit is variable at the higher of 4.25% per annum or the one-month LIBOR plus 3.5% per annum.

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Stock Option [Member] - USD ($)		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Exercise Price, Outstanding, Beginning		$ 4.58	$ 3.89
Weighted Average Exercise Price, Grants		7.38	5.92
Weighted Average Exercise Price, Terminations		6.63	5.68
Weighted Average Exercise Price, Exercises		1.89	3.47
Weighted Average Exercise Price, Outstanding, Ending		6.37	$ 4.58
Weighted Average Exercise Price, Vested		4.9
Weighted average exercise price, Vested and expected to vest		$ 6.37
Aggregate Intrinsic Value, Outstanding, Beginning	[1]	$ 1,513,980	$ 516,990
Aggregate Intrinsic Value, Outstanding, Ending	[1]	266,020	$ 1,513,980
Aggregate Intrinsic Value, Vested	[1]	129,110
Aggregate Intrinsic Value, Vested and expected to vest	[1]	$ 266,020
2000 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Beginning balance		117,500	126,500
Grants
Terminations			(5,000)
Exercises		(105,000)	(4,000)
Outstanding, Ending balance		12,500	117,500
Vested		12,500
Vested and expected to vest		12,500
Reserved for future grants
2010 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Beginning balance		242,500	124,500
Grants		48,500	141,000
Terminations		(19,000)	(16,000)
Exercises		(2,000)	(7,000)
Outstanding, Ending balance		270,000	242,500
Vested		47,500
Vested and expected to vest		270,000
Reserved for future grants		1,000
2017 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Beginning balance
Grants		122,500
Terminations		(11,000)
Exercises
Outstanding, Ending balance		111,500
Vested
Vested and expected to vest		111,500
Reserved for future grants		188,500
[1]	Intrinsic value is the difference between the fair market value as of the date indicated and as of the date of the option grant.

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - Stock option plans [Member]	12 Months Ended
	Dec. 31, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Non-vested stock options as of January 1, 2018 | shares	205,000
Number of Shares, Non-vested stock options as of December 31, 2018 | shares	334,000
Number of Shares, Stock options granted during the year ended December 31, 2018 | shares	171,000
Number of Shares, Stock options that vested during the year ended December 31, 2018 | shares	12,000
Number of Shares, Stock options that were forfeited during the year ended December 31, 2018 | shares	30,000
Weighted Average Fair Value at Grant Date, Non-vested stock options as of January 1, 2018	$ 3.49
Weighted Average Fair Value at Grant Date, Non-vested stock options as of December 31, 2018	3.63
Weighted Average Fair Value at Grant Date, Stock options granted during the year ended December 31, 2018	3.83
Weighted Average Fair Value at Grant Date, Stock options that vested during the year ended December 31, 2018	3.55
Weighted Average Fair Value at Grant Date, Stock options that were forfeited during the year ended December 31, 2018	3.78
Weighted Average Exercise Price, Non-vested stock options as of January 1, 2018	6.07
Weighted Average Exercise Price, Non-vested stock options as of December 31, 2018	6.64
Weighted Average Exercise Price, Stock options granted during the year ended December 31, 2018	7.38
Weighted Average Exercise Price, Stock options that vested during the year ended December 31, 2018	7.52
Weighted Average Exercise Price, Stock options that were forfeited during the year ended December 31, 2018	$ 6.63

Stockholders' Equity (Details 2

Stockholders' Equity (Details 2)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Stockholders' Equity [Abstract]
Risk-free interest rate	2.60%	1.90%
Dividend yield	0.00%	0.00%
Expected volatility	56.00%	61.00%
Expected life	5 years 4 months 24 days	6 years 6 months

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual)

Feb. 03, 2016USD ($)$ / sharesshares

Sep. 30, 1995$ / shares

Nov. 20, 2018USD ($)

Dec. 21, 2017USD ($)$ / sharesshares

Jul. 27, 2017USD ($)Investors$ / sharesshares

Jun. 30, 2017shares

Oct. 21, 2016USD ($)$ / sharesshares

Oct. 28, 2015USD ($)

Jun. 30, 2010shares

Jun. 30, 2000shares

Dec. 31, 2018USD ($)Employee$ / sharesshares

Dec. 31, 2017USD ($)Employee$ / sharesshares

Jun. 14, 2018shares

Dec. 31, 2016$ / shares

Jun. 15, 2016shares

Jun. 30, 2001shares

Stockholders' Equity (Textual)

Potential issuance or sale of equity | $

$ 10,000,000

Gross proceeds | $

$ 5,900,000

$ 3,050,000

Net proceeds | $

$ 5,313,000

$ 2,734,000

Common stock shares sold

1,123,810

417,807

Sale of stock, per share | $ / shares

$ 5.25

$ 7.30

Common stock, shares authorized

11,000,000

8,000,000

Stock option and incentive plan, description

We currently match 100% of the first 3% of each employee's salary that is contributed to the Plan and 50% of the next 2% of each employee's salary that is contributed to the Plan.

Proceeds from exercise of stock options | $

$ 96,254

$ 49,560

Potential issuance cost in equity securities | $

$ 20,000,000

Stock Options Granted [Member]

Stockholders' Equity (Textual)

Stock option granted during the period

171,000

141,000

Private Placement [Member]

Stockholders' Equity (Textual)

Gross proceeds | $

$ 3,464,000

Net proceeds | $

$ 3,161,000

Common stock shares sold

659,880

Closing share price | $ / shares

$ 5.25

Minimum [Member]

Stockholders' Equity (Textual)

Common stock, shares authorized

8,000,000

8,000,000

Maximum [Member]

Stockholders' Equity (Textual)

Common stock, shares authorized

11,000,000

10,000,000

Investors [Member]

Stockholders' Equity (Textual)

Gross proceeds | $

$ 1,050,000

Net proceeds | $

$ 1,034,000

Number of related investors | Investors

2

Common stock shares issued

200,000

Closing share price | $ / shares

$ 5.25

Stock Option [Member]

Stockholders' Equity (Textual)

Stock option and incentive plan, description

Having raised $10,000,000 in gross proceeds under the February 2016, July 2017 and December 2017 equity transactions.

Number of employee exercised stock options | Employee

7

6

Aggregate intrinsic value of options exercised | $

$ 582,590

$ 43,470

Weighted-average grant date fair values of options granted | $ / shares

$ 3.83

$ 3.51

Total unrecognized stock-based compensation related to non-vested stock options | $

$ 645,261

Share-based payment, description

Stock options covering an aggregate of 107,000 shares, of which 51,500 of these shares were acquired for cash, resulting in total proceeds of $96,240, and 55,500 of these shares were acquired by the surrender of 14,235 shares of common stock with a fair market value of $105,785 at the time of exercise and $14 in cash.

Exercised stock options covering 11,000 shares for cash, resulting in total proceeds of $49,560.

Exercise prices of options outstanding | $ / shares

$ 6.37

$ 4.58

$ 3.89

Weighted average remaining life of unrecognized stock-based compensation related to non-vested

1 year 9 months

Stock Option [Member] | Minimum [Member]

Stockholders' Equity (Textual)

Sale of stock, per share | $ / shares

$ 6.81

5.33

Exercise prices of options outstanding | $ / shares

3.15

Stock Option [Member] | Maximum [Member]

Stockholders' Equity (Textual)

Sale of stock, per share | $ / shares

8.43

$ 8.90

Exercise prices of options outstanding | $ / shares

$ 8.90

Stock Option [Member] | Employee [Member]

Stockholders' Equity (Textual)

Proceeds from exercise of stock options | $

$ 96,240

Number of employee exercised stock options | Employee

7

2000 Plan [Member] | Stock Option [Member]

Stockholders' Equity (Textual)

Common stock reserved for issuance under the plan

Number of stock options exercised

105,000

4,000

Stock option granted during the period

2000 Plan [Member] | Stock Option [Member] | Employee [Member]

Stockholders' Equity (Textual)

Stock option and incentive plan, description

No less than 85% of fair market value on the date of grant in the case of non-qualified stock options.

Common stock reserved for issuance under the plan

250,000

500,000

Stock option expiration period

10 years

6 years 7 months

Weighted average remaining life of options exercisable

2 years 7 months

Option expiry date

Feb. 28, 2010

2010 Plan [Member] | Stock Option [Member]

Stockholders' Equity (Textual)

Common stock reserved for issuance under the plan

1,000

Number of stock options exercised

2,000

7,000

Stock option granted during the period

48,500

141,000

2010 Plan [Member] | Stock Option [Member] | Employee [Member]

Stockholders' Equity (Textual)

Common stock reserved for issuance under the plan

300,000

Stock option expiration period

10 years

6 years 7 months

Weighted average remaining life of options exercisable

2 years 7 months

Share-based payment, description

The 2010 Plan expires in June 2020, after which date no further options could be granted under the 2010 Plan.

Option expiry date

Jun. 30, 2020

Common Stock Rights Plan [Member]

Stockholders' Equity (Textual)

Share-based payment, description

At any time after a person or group becomes an Acquiring Person and prior to the acquisition by such person or group of 50% or more of the outstanding common stock, the Board of Directors of the Company may exchange the Rights (other than Rights owned by such person or group which have become void), in whole or in part, at an exchange ratio of one share of common stock per Right (subject to adjustment).

Common stock purchase price | $ / shares

$ 70

Employee stock, plan description

The Rights (as amended) become exercisable and transferable apart from the common stock upon the earlier of i) 10 days following a public announcement that a person or group (Acquiring Person) has, without the prior consent of the Continuing Directors (as such term is defined in the Rights Agreement), acquired beneficial ownership of 20% or more of the outstanding common stock or ii) 10 days following commencement of a tender offer or exchange offer the consummation of which would result in ownership by a person or group of 20% or more of the outstanding common stock (the earlier of such dates being called the Distribution Date).

Our Board of Directors also has voted to authorize amendments to increase the ownership threshold for determining "Acquiring Person" status to 20%. During the second quarter of 2015, our Board of Directors also voted to authorize an amendment to remove a provision that prevented a new group of directors elected following the emergence of an Acquiring Person (an owner of more than 20% of our stock) from controlling the Rights Plan by maintaining exclusive authority over the Rights Plan with pre-existing directors.

Sale of common stock, description

The Company should consolidate or merge with any other entity and the Company were not the surviving company, or, if the Company were the surviving company, all or part of the Company's common stock were changed or exchanged into the securities of any other entity, or if more than 50% of the Company's assets or earning power were sold.

Outstanding rights price per share | $ / shares

$ 0.005

2017 Plan [Member] | Stock Option [Member]

Stockholders' Equity (Textual)

Common stock reserved for issuance under the plan

188,500

Number of stock options exercised

Stock option granted during the period

122,500

2017 Plan [Member] | Stock Option [Member] | Employee [Member]

Stockholders' Equity (Textual)

Common stock reserved for issuance under the plan

300,000

Stock option expiration period

10 years

6 years 7 months

Weighted average remaining life of options exercisable

2 years 7 months

Option expiry date

Mar. 31, 2027

Revenue (Details)

Revenue (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Total product sales	$ 10,986,297	$ 10,431,091
United States [Member]
Disaggregation of Revenue [Line Items]
Total product sales	9,559,142	8,626,517
Other [Member]
Disaggregation of Revenue [Line Items]
Total product sales	$ 1,427,155	$ 1,804,574

Revenue (Details 1)

Revenue (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Total product sales	$ 10,986,297	$ 10,431,091
First Defense product line [Member]
Disaggregation of Revenue [Line Items]
Total product sales	10,663,265	9,814,501
Other animal health [Member]
Disaggregation of Revenue [Line Items]
Total product sales	298,932	423,790
Other [Member]
Disaggregation of Revenue [Line Items]
Total product sales	$ 24,100	$ 192,800

Revenue (Details Textual)

Revenue (Details Textual)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2018
Revenue (Textual)
Revenue, description	We had a backlog of orders (representing purchase orders received from customers which were not fulfilled or paid) worth approximately $1,245,000.	We had received orders representing a backlog worth approximately $393,000.

Gain on Sale of Assets (Details

Gain on Sale of Assets (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2018
Gain on Sale of Assets (Textual)
Sale of technology	$ 700,000
Upfront payment received		$ 250,000
Second Payment [Member] | Third quarter of 2019 [Member]
Gain on Sale of Assets (Textual)
Upfront payment received		250,000
Third Payment [Member] | Fourth quarter of 2019 [Member]
Gain on Sale of Assets (Textual)
Upfront payment received		$ 200,000

Other Expenses, Net (Details)

Other Expenses, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Other Expenses, Net [Abstract]
Interest expense	$ 427,782	$ 218,571
Interest income	(14,301)	(16,909)
Other gains		(6,027)
Other expenses, net	$ 413,481	$ 195,635

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Current
Federal
State	(820)	14,476
Current subtotal	(820)	14,476
Deferred
Federal	(274,495)	(173,180)
State	(504,072)	(111,629)
Deferred subtotal, gross	(778,567)	(284,809)
Valuation allowance	1,241,007
Deferred subtotal, net	462,440	(284,809)
Income tax expense (benefit)	$ 461,620	$ (270,333)

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Abstract]
Computed expected tax benefit	$ (390,610)	$ (149,083)
State income taxes, net of federal expense	136,843	30,089
Share-based compensation	67,181	55,955
Tax credits	(602,813)	(137,983)
Deferred tax statutory rate change		(71,034)
Valuation allowance	1,241,007
Other	10,012	1,723
Income tax expense (benefit)	$ 461,620	$ (270,333)
Computed expected tax benefit, rate	(21.00%)	(34.00%)
State income taxes, net of federal expense, rate	7.36%	6.86%
Share-based compensation, rate	3.61%	12.76%
Tax credits, rate	(32.41%)	(31.47%)
Deferred tax statutory rate change, rate		(16.20%)
Valuation allowance, rate	66.72%
Other, rate	0.54%	0.40%
Income tax expense (benefit), rate	24.82%	(61.65%)

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Abstract]
Product rights	$ 14,226	$ 29,261
Property, plant and equipment	(2,534,799)	(527,186)
Federal general business tax credits	407,023	335,486
Federal net operating loss carryforwards	2,486,263	359,764
State tax credits carryover	845,967	242,244
Interest rate swaps	(10,052)	233
Prepaid expenses and other	13,354	16,355
UNICAP	19,025	16,569
Valuation allowance	(1,241,007)
Deferred tax assets, net		$ 472,726

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 22, 2017	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Income Taxes (Textual)
Income tax expense (benefit)			$ 461,620	$ (270,333)
(Loss) income before income taxes, rate			24.82%	(61.65%)
State net operating loss carryforwards			$ 3,485,949
Federal net operating loss carryforwards			11,839,349
Federal net operating loss carryforwards does not expire amount			10,127,442
Federal net operating loss carryforwards expires amount			1,711,907
Federal general business tax credit carryforwards			$ 407,023	$ 335,486
Tax credit carryforward, description			Federal net operating loss carryforwards of $11,839,349 of which $10,127,442 does not expire and $1,711,907 expires in 2034 through 2037 (if not utilized before then) and state net operating loss carryforwards of $3,485,949 that expire in 2037 through 2038 (if not utilized before then). Additionally, we had federal general business tax credit carryforwards of $407,023 that expire in 2027 through 2038 (if not utilized before then) and state tax credit carryforwards of $763,350 that expire in 2023 through 2038 (if not utilized before then).
State tax credit carryforwards			$ 763,350
Non-cash income tax expense to create a full valuation allowance against our net deferred tax assets		$ 563,252
U.S. federal corporate tax rate			(21.00%)	(34.00%)
Income tax expense in continuing operations increase in the deferred tax assets				$ 71,000
Maximum [Member]
Income Taxes (Textual)
U.S. federal corporate tax rate	34.00%
Minimum [Member]
Income Taxes (Textual)
U.S. federal corporate tax rate	21.00%

Contingent Liabilities and Co_2

Contingent Liabilities and Commitments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Contingent Liabilities and Commitments (Textual)
Termination fee	$ 100,000
Purchase of inventory	581,000
Other obligations	179,000
Milestone payment		$ 150,000
Royalty, percentage			4.00%
Growth assumption, percentage				6.00%
Royalty payment to Baylor	10,396	$ 5,000
Royalties due for 2017	5,000
Royalties due for 2018	10,000
Royalties due for 2019	15,000
Royalties due for 2020	20,000
Royalties due for 2021 (and thereafter)	$ 25,000

Segment Information (Details)

Segment Information (Details) - Sales Revenue, Net [Member]	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Segment Information (Textual)
Concentration risk percentage	97.00%	94.00%
U.S. dairy and beef industries [Member]
Segment Information (Textual)
Concentration risk percentage	87.00%	82.00%
International dairy and beef [Member]
Segment Information (Textual)
Concentration risk percentage	13.00%	15.00%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Related Party Transactions (Textual)
Revenues from transactions with related party	$ 527,819	$ 610,073
Marketing-related payments	12,380	8,118
Accounts receivable, related parties	$ 16,283	$ 14,176

Employee Benefits (Details)

Employee Benefits (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Employee Benefits (Textual)
Employee savings plan, description	All employees completing one month of service with the Company are eligible to participate.
Defined benefit plans general information, description	We currently match 100% of the first 3% of each employee's salary that is contributed to the Plan and 50% of the next 2% of each employee's salary that is contributed to the Plan.
Defined benefit plan benefits paid	$ 104,843	$ 87,521