Lifeway Foods (LWAY) 10-K 14 Aug 15 2014 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2014	Jul. 28, 2015	Jun. 30, 2015
Document And Entity Information
Entity Registrant Name	LIFEWAY FOODS INC
Entity Central Index Key	814,586
Document Type	10-K
Document Period End Date	Dec. 31, 2014
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer	No
Is Entity a Voluntary Filer	No
Is Entity's Reporting Status Current	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		16,346,017
Entity Public Float			$ 91,167,353
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,014

Consolidated Statements Of Fina

Consolidated Statements Of Financial Condition - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Current assets
Cash and cash equivalents	$ 3,260,244	$ 3,306,608
Investments	2,779,140	2,516,380
Certificates of deposits in financial institutions	149,965	15,373
Inventories	5,814,219	6,899,008
Accounts receivable, net of allowance for doubtful accounts and discounts of $1,050,000 in 2014 and 2013	10,213,541	10,444,839
Prepaid expenses and other current assets	251,922	128,323
Other receivables	134,338	103,272
Deferred income taxes	408,340	322,071
Refundable income taxes	1,140,796	1,014,947
Total current assets	24,152,505	24,750,821
Property and equipment, net	21,892,395	20,824,448
Intangible assets
Goodwill	14,068,091	14,068,091
Other intangible assets, net of accumulated amortization of $5,184,036 and $4,468,359 in 2014 and 2013, respectively	3,059,764	3,750,441
Total intangible assets	17,127,855	17,818,532
Other Assets
Long-term accounts receivable net of current portion	251,683	280,000
Total assets	63,424,438	63,673,801
Current liabilities
Current maturities of notes payable	872,285	875,002
Accounts payable	5,586,755	6,723,179
Accrued expenses	2,066,076	1,284,060
Total current liabilities	8,525,116	8,882,241
Notes payable	8,124,515	8,999,012
Deferred income taxes	2,075,095	2,843,426
Total liabilities	18,724,726	20,724,679
Stockholders' equity
Common stock, no par value; 40,000,000 shares authorized; 17,273,776 shares issued; 16,346,017 shares outstanding at 2014 and 2013	6,509,267	6,509,267
Paid-in-capital	2,032,516	2,032,516
Treasury stock, at cost	(8,187,682)	(8,187,682)
Retained earnings	44,543,618	42,587,214
Accumulated other comprehensive income (loss), net of taxes	(198,007)	7,807
Total stockholders' equity	44,699,712	42,949,122
Total liabilities and stockholders' equity	$ 63,424,438	$ 63,673,801

Consolidated Statements Of Fin3

Consolidated Statements Of Financial Condition (Parenthetical) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Current assets
Allowance for doubtful accounts and discounts	$ 1,050,000	$ 1,050,000
Intangible assets
Accumulated Amortization	$ 5,184,036	$ 4,468,359
Stockholders' equity
Common stock, no par value	$ 0	$ 0
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	17,273,776	17,273,776
Common stock, shares outstanding	16,346,017	16,346,017

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Consolidated Statements Of Income And Comprehensive Income
Sales	$ 130,215,716	$ 108,966,094	$ 89,754,007
Less: discounts and allowances	(11,256,103)	(11,441,952)	(8,402,742)
Net sales	118,959,613	97,524,142	81,351,265
Cost of goods sold	87,560,837	68,274,674	53,098,191
Depreciation expense	2,535,937	1,626,575	1,629,594
Total cost of goods sold	90,096,774	69,901,249	54,727,785
Gross profit	28,862,839	27,622,893	26,623,480
Selling expenses	14,534,038	11,296,381	10,703,980
General and administrative	9,377,645	7,582,397	6,319,972
Amortization expense	715,677	712,803	754,817
Total operating expenses	24,627,360	19,591,581	17,778,769
Income from operations	4,235,479	8,031,312	8,844,711
Other income (expense):
Interest and dividend income	122,018	116,380	85,383
Rental income	4,300	11,727	12,285
Interest expense	(276,895)	(203,365)	(177,622)
Gain on sale of investments, net reclassified from OCI	98,953	195,500	71,286
Gain (Loss) on sale of equipment	6,592	(304,958)	$ (11,169)
Other Income (Expense)	8,192	10,577
Total other income (expense)	(36,840)	(174,139)	$ (19,837)
Income before provision for income taxes	4,198,630	7,857,173	8,824,874
Provision for income taxes	2,242,226	2,866,875	3,205,076
Net income	$ 1,956,404	$ 4,990,298	$ 5,619,798
Basic and diluted earnings per common share	$ 0.12	$ 0.31	$ 0.34
Weighted average number of shares outstanding	16,346,017	16,346,017	16,373,224
COMPREHENSIVE INCOME
Net income	$ 1,956,404	$ 4,990,298	$ 5,619,798
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on investments (net of tax), $93,540, $49,793 and $79,159 for 2014, 2013 and 2012, respectively	(145,571)	64,674	102,816
Less reclassification adjustment for (gains) losses included in net income (net of taxes), $38,711, $85,042 and $31,009 for 2014, 2013 and 2012, respectively	(60,243)	(110,458)	(40,277)
Comprehensive income	$ 1,750,590	$ 4,944,514	$ 5,682,337

Statement - Consolidated Statem

Statement - Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Common Stock	Paid-In Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss), Net of Tax	Total
Beginning Balance, Shares issued at Dec. 31, 2011	17,273,776
Beginning Balance, Shares outstanding at Dec. 31, 2011	16,409,317
Beginning Balance, Treasury stock shares at Dec. 31, 2011	864,459
Beginning Balance, Amount at Dec. 31, 2011	$ 6,509,267	$ 2,032,516	$ (7,606,974)	$ 34,431,296	$ (8,948)	$ 35,357,157
Redemption of stock Shares Outstanding	(63,300)
Redemption of stock Treasury Stock	63,300
Redemption of stock			$ (580,708)			(580,708)
Other comprehensive income (loss):
Unrealized gains on securities, net of taxes					$ 62,539	62,539
Net income				$ 5,619,798		5,619,798
Dividends ($.08) per share				(1,146,317)		(1,146,317)
Ending Balance, Shares issued at Dec. 31, 2012	17,273,776
Ending Balance, Shares outstanding at Dec. 31, 2012	16,346,017
Ending Balance, Treasury stock shares at Dec. 31, 2012	927,759
Ending Balance, Amount at Dec. 31, 2012	$ 6,509,267	$ 2,032,516	$ (8,187,682)	$ 38,904,777	$ 53,591	$ 39,312,469
Redemption of stock Shares Outstanding
Redemption of stock Treasury Stock
Redemption of stock
Other comprehensive income (loss):
Unrealized gains on securities, net of taxes					$ (45,784)	$ (45,784)
Net income				$ 4,990,298		4,990,298
Dividends ($.08) per share				(1,307,861)		$ (1,307,861)
Ending Balance, Shares issued at Dec. 31, 2013	17,273,776					17,273,776
Ending Balance, Shares outstanding at Dec. 31, 2013	16,346,017					16,346,017
Ending Balance, Treasury stock shares at Dec. 31, 2013	927,759
Ending Balance, Amount at Dec. 31, 2013	$ 6,509,267	$ 2,032,516	$ (8,187,682)	$ 42,587,214	$ 7,807	$ 42,949,122
Redemption of stock Shares Outstanding
Redemption of stock Treasury Stock
Redemption of stock
Other comprehensive income (loss):
Unrealized gains on securities, net of taxes					$ (205,814)	$ (205,814)
Net income				$ 1,956,404		$ 1,956,404
Dividends ($.08) per share
Ending Balance, Shares issued at Dec. 31, 2014	17,273,776					17,273,776
Ending Balance, Shares outstanding at Dec. 31, 2014	16,346,017					16,346,017
Ending Balance, Treasury stock shares at Dec. 31, 2014	927,759
Ending Balance, Amount at Dec. 31, 2014	$ 6,509,267	$ 2,032,516	$ (8,187,682)	$ 44,543,618	$ (198,007)	$ 44,699,712

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net income	$ 1,956,404	$ 4,990,298	$ 5,619,798
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	3,251,614	2,339,378	2,384,411
Gain on sale of investments, net	(98,953)	(195,500)	(71,286)
Deferred income taxes	(719,778)	(238,804)	(434,896)
Bad Debt expense	204,700	32,604	435,344
(Gain) Loss on sale of equipment	(6,592)	304,958	11,169
(Increase) decrease in operating assets:
Accounts receivable	54,915	(1,741,759)	(1,213,253)
Other receivables	(31,066)	(94,447)	215,379
Inventories	1,084,789	(959,822)	(984,711)
Refundable income taxes	(125,849)	(930,119)	(43,512)
Prepaid expenses and other current assets	(123,599)	(6,185)	(17,508)
Increase (decrease) in operating liabilities:
Accounts payable	(1,136,424)	2,466,454	(129,514)
Accrued expenses	$ 782,016	128,383	601,952
Income taxes payable		(254,311)	254,311
Net cash provided by operating activities	$ 5,092,177	5,841,128	6,627,684
Cash flows from investing activities:
Purchases of investments	(3,280,157)	(3,518,781)	(1,452,672)
Proceeds from sale of investments	2,773,570	3,001,016	$ 1,475,730
Redemption of certificates of deposit	15,000	$ 423,997
Investments in certificates of deposit	(149,965)		$ (150,255)
Purchases of property and equipment	(3,684,368)	$ (8,479,886)	$ (1,428,717)
Proceeds from sale of equipment	64,593	710,681
Net cash used in investing activities	$ (4,261,327)	$ (7,862,973)	$ (1,555,914)
Cash flows from financing activities:
Checks written in excess of bank balance			(592,040)
Purchase of treasury stock			(580,708)
Dividends paid		$ (1,307,861)	(1,146,317)
Net proceeds from debt issuance		4,975,000	250,000
Repayment of notes payable	$ (877,214)	(624,912)	(1,831,626)
Net cash used in financing activities	(877,214)	3,042,227	(3,900,691)
Net decrease in cash and cash equivalents	(46,364)	1,020,382	1,171,079
Cash and cash equivalents at the beginning of the period	3,306,608	2,286,226	1,115,147
Cash and cash equivalents at the end of the period	$ 3,260,244	$ 3,306,608	$ 2,286,226

Nature Of Business

Nature Of Business	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 1 - Nature Of Business	Lifeway Foods, Inc. (the “Company” or “Lifeway”), an Illinois corporation, commenced operations in February 1986, and was incorporated under the laws of the State of Illinois on May 19, 1986. The Company’s principal business activity is the manufacturing of probiotic, cultured, functional dairy health food products. Lifeway’s primary product is kefir, a dairy beverage similar to but distinct from yogurt, in several flavors and in several packages. In addition to kefir, Lifeway manufactures “Lifeway Farmer Cheese,” a line of various farmer cheeses. Lifeway distributes its products throughout the United States and in London. The Company manufactures all of its products distributed in the United States at Company-owned facilities. In the Chicago metropolitan area, Lifeway distributes its products on its own trucks and via distributors. The Company directly distributes its products in the Philadelphia and Tri State metropolitan areas using its own trucks .

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 2 - Summary Of Significant Accounting Policies	Out-of-period adjustments During fiscal 2014, adjustments to correct the accounting for certain items related to prior periods, in the aggregate, decreased income before provision for income taxes by approximately $600,000 and net income by approximately $400,000. These errors relate to an understatement of accrued expenses and the provision for income taxes arising primarily from inaccurate accounting for certain employee expense reports and an understatement of depreciation expense arising from assigning an incorrect useful life. We determined these adjustments to be immaterial, individually and in the aggregate, to our previously filed consolidated financial statements. A summary of the significant accounting policies applied in the preparation of the accompanying consolidated financial statements follows: Basis of presentation The accounting and reporting policies of the Company and its subsidiaries conform to U.S. generally accepted accounting principles. Principles of consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Helios Nutrition, Ltd., Pride of Main Street, L.L.C., Starfruit, L.L.C., Fresh Made, Inc. and Starfruit Franchisor, L.L.C., Lifeway First Juice, Inc. (IL) (dissolved in February 2012), First Juice, Inc. (dissolved in December 2011) and Lifeway Wisconsin, Inc. Lifeway Wisconsin, Inc. was created to facilitate the operation of a production facility in Wisconsin. Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made in preparing the consolidated financial statements include the allowance for doubtful accounts, the valuation of investment securities, goodwill, intangible assets, and deferred taxes. Revenue Recognition Sales of Company produced dairy products are recorded at the time of shipment and the following four criteria have been met: (i) The product has been shipped and the Company has no significant remaining obligations; (ii) Persuasive evidence of an agreement exists; (iii) The price to the buyer is fixed or determinable and (iv) Collection is probable. In addition, shipping costs invoiced to the customers are included in net sales and the related cost in cost of sales. Discounts and allowances are reported as a reduction of gross sales unless the allowance is attributable to an identifiable benefit separable from the purchase of the product, the value of which can be reasonably estimated, which would be charged to the appropriate expense account. Customer Concentration Sales are predominately to companies in the retail food industry, located within the United States of America. Two major customers accounted for approximately 28%, 35% and 31% of gross sales for the years ended December 31, 2014, 2013 and 2012, respectively. These customers accounted for approximately 23%, 25% and 30% of accounts receivable as of December 31, 2014, 2013 and 2012, respectively. Cash and cash equivalents All highly liquid investments purchased with an original maturity of three months or less are considered to be cash equivalents. The Company maintains cash deposits at several institutions located in the greater Chicago, Illinois and Philadelphia, Pennsylvania metropolitan areas. Investments All investment securities are classified as available-for-sale and are carried at fair value. Unrealized gains and losses on available-for-sale securities are reported as a separate component of stockholders’ equity. Amortization, accretion, interest and dividends, realized gains and losses, and declines in value judged to be other-than-temporary on available-for-sale securities are recorded in other income. All of the Company's securities are subject to a periodic impairment evaluation. This evaluation depends on the specific facts and circumstances. Factors that we consider in determining whether an other-than-temporary decline in value has occurred include: the market value of the security in relation to its cost basis; the financial condition of the investee; and the intent and ability to retain the investment for a sufficient period of time to allow for possible recovery in the market value of the investment. Accounts receivable Credit terms are extended to customers in the normal course of business. The Company performs ongoing credit evaluations of its customers’ financial condition and generally requires no collateral. Balances expected to be paid beyond one year are classified as long-term. Accounts receivable are recorded at invoice amounts, and reduced to their estimated net realizable value by recognition of an allowance for doubtful accounts and anticipated discounts. The Company’s estimate of the allowances for doubtful accounts and anticipated discounts are based upon historical experience, its evaluation of the current status and contract terms of specific receivables, and unusual circumstances, if any. Accounts are considered past due if payment is not made on a timely basis in accordance with the Company’s credit terms. Accounts considered uncollectible are charged against the allowance. Inventories Inventories are stated at the lower of cost or market. Our products are valued using the first in, first out method. The costs of inventories include raw materials, direct labor and indirect production and overhead costs. Property and equipment Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the related assets. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is recognized in income for the period. The cost of maintenance and repairs is charged to expense as incurred; significant renewals and betterments are capitalized. Property and equipment is being depreciated over the following useful lives: Category Years Buildings and improvements 31 and 39 Machinery and equipment 5 – 12 Office equipment 5 – 7 Vehicles 5 Leasehold improvements Shorter of expected useful life or lease term Intangible assets acquired in business combinations The Company accounts for intangible assets at historical cost. Intangible assets acquired in a business combination are recorded under the purchase method of accounting at their estimated fair values at the date of acquisition. Goodwill represents the excess purchase price over the fair value of the net tangible and other identifiable intangible assets acquired. Goodwill is not amortized, but is reviewed for impairment at least annually. Brand assets represent the fair value of brands acquired. The Company amortizes other intangible assets over their estimated useful lives, as disclosed in the table below. The Company reviews intangible assets and their related useful lives at least once per year to determine if any adverse conditions exist that would indicate the carrying value of these assets may not be recoverable. The Company conducts more frequent impairment assessments if certain conditions exist, including: a change in the competitive landscape, any internal decisions to pursue new or different strategies, a loss of a significant customer, or a significant change in the market place including changes in the prices paid for the Company’s products or changes in the size of the market for the Company’s products. If the estimate of an intangible asset’s remaining useful life is changed, the remaining carrying amount of the intangible asset is amortized prospectively over the revised remaining useful life. Intangible assets are being amortized over the following useful lives: Category Years Recipes 4 Trade names 8-15 Formula 10 Customer relationships 8-12 Income taxes Deferred income taxes are the result of temporary differences that arise from income and expense items reported for financial accounting and tax purposes in different periods. Deferred taxes are classified as current or non-current, depending on the classification of the assets and liabilities to which they relate. Deferred taxes arising from temporary differences that are not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. The principal sources of temporary differences are different depreciation and amortization methods for financial statement and tax purposes, unrealized gains or losses related to investments, capitalization of indirect costs for tax purposes, purchase price adjustments, and the recognition of an allowance for doubtful accounts for financial statement purposes. The Company has analyzed filing positions in all of the federal and state jurisdictions where it is required to file income tax returns, as well as all open tax years in these jurisdictions. The only periods subject to examination for the Company’s federal returns are the 2011, 2012 and 2013 tax years. The Company believes that its income tax filing positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in a material change to its financial position. Treasury stock Treasury stock is recorded using the cost method. Advertising and promotional costs The Company expenses advertising costs as incurred. For the years ended December 31, 2014, 2013 and 2012 total advertising expenses were $3,875,384, $2,685,691 and $2,679,798, respectively. Earnings per common share Earnings per common share were computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Segments The Company has two separate operating segments, the sale of fermented dairy products and three retail locations in Illinois that sell the Company’s fermented dairy products. The Company has determined reportable segments based on how the Company’s chief operating decision maker manages the business and in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating decision maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Chief Financial Officer and the board of directors that makes strategic decisions. Substantially all of the consolidated revenues of the Company relate to the sale of fermented dairy products which are produced using the same processes and materials and are sold to consumer retail food sellers through direct delivery and distributors in the United States.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 3 - Intangible Assets	Intangible assets, and the related accumulated amortization, consist of the following: December 31, 2014 December 31, 2013 Cost Accumulated Amortization Cost Accumulated Amortization Recipes $ 43,600 $ 43,600 $ 43,600 $ 43,600 Customer lists and other customer related intangibles 4,529,200 2,926,719 4,504,200 2,474,790 Customer relationship 985,000 666,869 985,000 596,785 Trade names 2,248,000 1,178,198 2,248,000 1,028,334 Formula 438,000 368,650 438,000 324,850 $ 8,243,800 $ 5,184,036 $ 8,218,800 $ 4,468,359 Amortization expense is expected to be approximately the following for the 12 months ending December 31: 2015 $ 715,677 2016 697,427 2017 671,877 2018 634,863 2019 209,578 Thereafter 130,342 $ 3,059,764 Amortization expense during the years ended December 31, 2014, 2013 and 2012 was $715,677, $712,803 and $754,817, respectively.

Investments

Investments	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 4 - Investments	The cost and fair value of investments classified as available for sale are as follows: December 31, 2014 Cost Unrealized Gains Unrealized Losses Fair Value Equities $ 530,328 $ 19,608 $ (64,046) $ 485,890 Mutual Funds 445,337 0 (10,624) 434,713 Preferred Securities 180,120 195 (2,075) 178,240 Corporate Bonds 1,948,596 1,880 (270,179) 1,680,297 Total $ 3,104,381 $ 21,683 $ (346,924) $ 2,779,140 December 31, 2013 Cost Unrealized Gains Unrealized Losses Fair Value Equities $ 1,006,169 $ 98,213 $ (32,181) $ 1,072,201 Mutual Funds 54,847 1,994 0 56,841 Preferred Securities 464,585 12,960 (15,449) 462,096 Corporate Bonds 973,333 1,329 (49,420) 925,242 Total $ 2,498,934 $ 114,496 $ (97,050) $ 2,516,380 December 31, 2012 Cost Unrealized Gains Unrealized Losses Fair Value Equities $ 639,974 $ 90,875 $ (5,190 ) $ 725,659 Corporate Bonds 1,135,064 16,212 (7,047 ) 1,144,229 Total $ 1,775,038 $ 107,087 $ (12,237 ) $ 1,869,888 Proceeds from the sale of investments were $2,773,570, $3,001,016 and $1,475,730 for the years ended December, 2014, 2013 and 2012, respectively. Gross gains of $177,420, $248,223 and $88,713 and gross losses of $78,467, $52,723 and $17,427 were realized on these sales during the years ended December, 2014, 2013 and 2012 respectively. The following table shows the gross unrealized losses and fair value of the Company's investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December, 2014, 2013 and 2012: Less Than 12 Months 12 Months or Greater Total December 31, 2014 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Equities $ 162,268 $ (49,053 ) $ 141,417 $ (14,993 ) $ 303,685 $ (64,046 ) Mutual Funds 434,713 (10,624 ) 0 0 434,713 (10,624 ) Preferred Securities 80,640 (2,075 ) 0 0 80,640 (2,075 ) Corporate Bonds 1,056,140 (194,641 ) 497,277 (75,538 ) 1,553,417 (270,179 ) $ 1,733,761 $ (256,393 ) $ 638,694 $ (90,531 ) $ 2,372,455 $ (346,924 ) Less Than 12 Months 12 Months or Greater Total December 31, 2013 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Equities $ 213,222 $ (32,180 ) $ 0 $ 0 $ 213,222 $ (32,180 ) Mutual Funds 0 0 0 0 0 0 Preferred Securities 224,125 (15,449 ) 0 0 224,125 (15,449 ) Corporate Bonds 615,986 (42,827 ) 96,726 (6,593 ) 712,712 (49,420 ) $ 1,053,333 $ (90,456 ) $ 96,726 $ (6,593 ) $ 1,150,059 $ (97,049 ) Less Than 12 Months 12 Months or Greater Total December 31, 2012 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Equities $ 63,620 $ (3,745 ) $ 21,910 $ (1,445 ) $ 85,530 $ (5,190 ) Corporate Bonds 301,229 (2,721 ) 193,930 (4,326 ) 495,159 (7,047 ) $ 364,849 $ (6,466 ) $ 215,840 $ (5,771 ) $ 580,689 $ (12,237 ) Equities, Mutual Funds, Preferred Securities, and Corporate Bonds -The Company's investments in equity securities, mutual funds, preferred securities, and corporate bonds consist of investments in common stock, preferred stock and debt securities of companies in various industries. As of December 31, 2014, there were three corporate bond securities that had unrealized losses greater than twelve months. The Company evaluated the near-term prospects of the issuer in relation to the severity and duration of the impairment. Based on that evaluation and the Company's ability and intent to hold these investments for a reasonable period of time sufficient for a forecasted recovery of fair value, the Company did not consider any material investments to be other-than-temporarily impaired at December 31, 2014.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 5 - Inventories	Inventories consist of the following: December 31, 2014 2013 Finished goods $ 2,373,476 $ 3,027,900 Production supplies 2,069,742 2,690,097 Raw materials 1,371,001 1,181,011 Total inventories $ 5,814,219 $ 6,899,008

Property And Equipment

Property And Equipment	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 6 - Property And Equipment	Property and equipment consist of the following: December 31, 2014 2013 Land $ 1,856,370 $ 1,856,370 Buildings and improvements 15,125,803 14,587,022 Machinery and equipment 20,434,910 19,633,164 Vehicles 1,244,560 1,244,560 Office equipment 465,801 433,679 Construction in process 2,408,754 177,519 41,536,198 37,932,314 Less accumulated depreciation 19,643,803 17,107,866 Total property and equipment $ 21,892,395 $ 20,824,448 Lifeway completed the purchase of Golden Guernsey’s assets on July 2, 2013. The cost was approximately $7.4 million. Depreciation expense during the years ended December 31, 2014, 2013 and 2012 was $2,535,937, $1,626,575 and $1,629,594, respectively. Included in depreciation expense for the year ended December 31, 2014 is an adjustment of approximately $470,000 related to the Company’s Starfruit leasehold improvements.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 7 - Accrued Expenses	Accrued expenses consist of the following: December 31, 2014 2013 Accrued payroll and payroll taxes $ 891,763 $ 477,312 Accrued property tax 331,278 306,608 Other 843,035 500,140 $ 2,066,076 $ 1,284,060

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 8 - Notes Payable	Notes payable consist of the following: December 31, 2014 2013 Note payable to Private Bank in monthly installments of $42,222, plus variable interest rate, currently at 2.6677%, with a balloon payment for the remaining balance. Collateralized by substantially all assets of the Company. In May 2013, the Company refinanced this note under similar terms which extended the maturity date to May 31, 2018. $ 4,352,222 $ 4,858,889 Note payable to Private Bank in monthly installments of $27,778, plus variable interest rate, currently at 2.6677% with a balloon payment for the remaining balance, maturing on May 31, 2019, collateralized by substantially all assets of the Company. 4,583,333 4,916,667 Notes payable to Ford Credit Corp. payable in monthly installments of $1,778 at 5.99%, due July 2015, secured by transportation equipment. 12,198 32,124 Note payable to Fletcher Jones of Chicago, Ltd LLC in monthly installments of $1,769 at 6.653%, due May 24, 2017, secured by transportation equipment. 49,047 66,334 Total notes payable 8,996,800 9,874,014 Less current maturities 872,285 875,002 Total long-term portion $ 8,124,515 $ 8,999,012 In accordance with the Private Bank agreements referenced above, the Company is subject to minimum fixed charged ratio and tangible net worth thresholds. The Company was in compliance with these financial covenants at December 31, 2014. Further, the Company is required to deliver its annual and quarterly financial statements and related SEC filings within specified timeframes. Due to the Company’s delay in completing such filings the Company obtained waivers as further discussed in Note 16. In addition, as of December 31, 2014 the Company had a $5 million revolving credit facility with The Private Bank. Borrowings under the facility were subject to interest at the prime rate or LIBOR plus 2.5%. At December 31, 2014 there were no borrowings under the facility. The facility expired in May 2015 but has been subsequently extended to May 2016. Maturities of notes payables are as follows: For the 12 months ending December 31, 2015 $ 872,285 2016 859,876 2017 849,084 2018 3,165,566 2019 3,249,989 Total $ 8,996,800

Commitments And Contingencies

Commitments And Contingencies	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 9 - Commitments And Contingencies	The Company leases three stores for its Starfruit subsidiary. Total rent expense for these leases was $143,384, $347,164 and $379,348 for the years ended December 31, 2014, 2013 and 2012, respectively. The Company is also responsible for additional rent equal to real estate taxes and other operating expenses. Future annual minimum base rental payments for the leases as of December 31, 2014 are as follows: For the year ending December 31, 2015 $ 70,539 2016 72,653 2017 74,832 2018 47,761 2019 49,194 Total $ 314,979

Provision For Income Taxes

Provision For Income Taxes	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 10 - Provision For Income Taxes	The provision for income taxes consists of the following: For the Years Ended December 31, 2014 2013 2012 Current: Federal $ 2,142,526 $ 2,551,505 $ 2,757,332 State and local 819,478 554,174 882,640 Total current 2,962,004 3,105,679 3,639,972 Deferred (719,778 ) (238,804 ) (434,896 ) Provision for income taxes $ 2,242,226 $ 2,866,875 $ 3,205,076 A reconciliation of the provision for income taxes and the income tax computed at the statutory rate is as follows: 2014 2013 2012 Amount Percentage Amount Percentage Amount Percentage Federal income tax expense computed at the statutory rate $ 1,427,534 34.0 % $ 2,666,223 34.0 % $ 3,000,457 34.0 % State and local tax expense, net 214,970 5.1 % 744,974 9.5 % 838,363 9.5 % U.S. domestic manufacturers’ deduction & other permanent differences 463,646 11.0 % (455,442 ) (5.8 )% (427,525 ) (4.9 )% Additions for tax positions of prior years 215,102 5.1 % 0 0 % 0 0 % Change in tax rates (138,008 ) (3.2 )% 0 0 % 0 0 % Change in tax estimate 58,982 1.4 % (88,880 ) (1.1 )% (206,219 ) (2.2 )% Provision for income taxes $ 2,242,226 53.4 % $ 2,866,875 36.6 % $ 3,205,076 36.4 % A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2014 2013 2012 Balance at January 1 $ — $ — $ — Additions for tax positions of prior years 215,102 — — Balance at December 31 $ 215,102 $ — $ — The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. During the years ended December 31, 2014, 2013, and 2012, the Company recognized approximately $64,600, $-, and $- in interest and penalties, respectively. The Company had approximately $64,600 and $- for the payment of interest and penalties accrued at December 31, 2014, and 2013, respectively. Amounts for deferred tax assets and liabilities are as follows: December 31, 2014 2013 2012 Non-current deferred tax assets (liabilities) arising from: Temporary differences - Accumulated depreciation and amortization $ (2,075,095 ) $ (2,896,058 ) $ (3,164,716 ) Capital loss carry-forwards 0 52,632 136,198 Total non-current net deferred tax liabilities (2,075,095 ) (2,843,426 ) (3,028,518 ) Current deferred tax assets arising from: Capital loss carry-forward 8,620 0 0 Unrealized losses (gain) on investments 127,234 (7,589 ) (41,260 ) Inventory 233,366 307,910 265,072 Allowance for doubtful accounts and discounts 39,120 21,750 10,875 Total current deferred tax assets 408,340 322,071 234,687 Net deferred tax liability $ (1,666,755 ) $ (2,521,355 ) $ (2,793,831 )

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 11 - Supplemental Cash Flow Information	Cash paid for interest and income taxes are as follows: For the Years Ended December 31, 2014 2013 2012 Interest $ 266,581 $ 205,739 $ 191,277 Income taxes $ 3,079,602 $ 4,362,991 $ 3,413,687

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 12 - Fair Value Measurements	Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Fair Value Measurementsand Disclosures Level 1. Level 2. ● Quoted prices for similar assets or liabilities in active markets; ● Quoted prices for identical or similar assets or liabilities in inactive markets; ● Inputs other than quoted prices that are observable for the asset or liability; ● Inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability. Level 3. The asset or liability's fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used as of December 31, 2014 and 2013. The majority of the Company’s short-term investments are classified within Level 1 or Level 2 of the fair value hierarchy. The Company’s valuation of its Level 1 investments, which include mutual funds, is based on quoted market prices in active markets for identical securities. The Company’s valuation of its Level 2 investments, which include certificates of deposits, is based on other observable inputs, specifically a valuation model which utilized vendor pricing for similar securities. The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Company believes the valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. The following table sets forth by level, within the fair value hierarchy, the Company’s financial assets at fair value for the years ended December 31, 2014 and 2013. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement: Assets and Liabilities at Fair Value as of December 31, 2014 Level 1 Level 2 Level 3 Total Certificate of Deposits 0 149,965 0 149,965 Mutual Funds 434,713 0 0 434,713 Stocks 485,890 0 0 485,890 Preferred Securities 0 178,240 0 178,240 Corporate Bonds 0 1,680,297 0 1,680,297 Notes Payable 0 8,996,800 0 8,996,800 Assets and Liabilities at Fair Value as of December 31, 2013 Level 1 Level 2 Level 3 Total Certificate of Deposits 0 15,373 0 15,373 Mutual Funds 56,841 0 0 56,841 Stocks 1,072,201 0 0 1,072,201 Preferred Securities 0 462,096 0 462,096 Corporate Bonds 0 925,242 0 925,242 Notes Payable 0 9,874,014 0 9,874,014 The Company’s financial assets and liabilities also include accounts receivable, other receivables and, accounts payable for which carrying value approximates fair value. All such assets are valued using level 2 inputs.

Litigation

Litigation	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 13 - Litigation	The Company is named a party to lawsuits in the normal course of business. In the opinion of management, the resolution of these lawsuits will not have a material adverse effect on the Company’s consolidated financial position or results of operations.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 14 - Recent Accounting Pronouncements	In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”), which supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, including most industry-specific requirements. ASU 2014-09 establishes a five-step revenue recognition process in which an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers. In July 2015 the FASB decided to delay the effective date for implementation of ASU 2014-09. Under the delayed effective date, the Company is required to adopt the new standard not later than its first quarter of 2018. Management is currently evaluating the impact the adoption of ASU 2014-09 will have on the Company’s consolidated financial position, results of operations or cash flows and the method of retrospective application, either full or modified. In July 2015, the FASB issued new accounting guidance for measuring inventory. The core principal of the guidance is that an entity should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This guidance does not apply to inventory that is being measured using the Last-In, First-Out (LIFO) or the retail inventory method. The guidance is effective for financial statements issued for annual and interim periods beginning after December 15, 2016 on a prospective basis. Early adoption is permitted. Management is currently evaluating the impact this will have on the consolidated financial statements.

Segments And Products

Segments And Products	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 15 - Segments And Products	The Company has two separate operating segments, the sale of fermented dairy products and three retail locations in Illinois that sell the Company’s fermented dairy products. The Company has determined reportable segments based on how the Company’s chief operating decision maker manages the business and in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating decision maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Chief Financial Officer and the board of directors that makes strategic decisions. Substantially all of the consolidated revenues of the Company relate to the sale of fermented dairy products which are produced using the same processes and materials and are sold to consumer retail food sellers through direct delivery and distributors in the United States. The Company had less than $1 million in revenues attributable to its retail locations during the years ended December 31, 2014, 2013 or 2012.The Company’s annual revenues attributable to its three retail locations are considered not to be material and accordingly the Company has not presented financial information separately for this segment. Substantially all of the consolidated revenues and assets of the Company are within the United States. The Company manufactures probiotic, cultured, functional dairy health food products. The Company’s primary product is kefir, a dairy beverage similar to but distinct from yogurt, in several flavors and in several packages. In addition to the drinkable products, Lifeway manufactures “Lifeway Farmer Cheese,” a line of various farmer cheeses. Sales of products by category were as follows for the years ended December 31: 2014 2013 2012 Lifeway Farmer Cheese $ 10,266,319 $ 9,388,067 $ 9,777,033 Drinkable Kefir other than ProBugs 110,297,098 90,441,363 73,003,926 ProBugs 7,867,980 7,126,630 4,628,990 Frozen Kefir 1,784,319 2,010,034 2,344,058 Total sales $ 130,215,716 $ 108,966,094 $ 89,754,007

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 16 - Subsequent Events	On April 6, 2015 and May 14, 2015, the Company received letters (the “Nasdaq Notices”) from The NASDAQ Stock Market LLC (“Nasdaq”) notifying the Company that because it had not yet filed with the SEC its Annual Report on Form 10-K for the fiscal year ended December 31, 2014 (the “Form 10-K”) and its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2015 (the “First Quarter Form 10-Q”), the Company is not in compliance with the periodic filing requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(1). The Company, by filing this report, has filed the Form 10-K. The Company is diligently working to file the First Quarter Form 10-Q and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2015 (the “Second Quarter Form 10-Q”) and to regain compliance with Nasdaq Rule 5250(c)(1). On August 11, 2015, The Private Bank agreed to extend the due date for the Company to deliver its Annual Report on Form 10-K for the fiscal year ended December 31, 2014 until August 14, 2015 as well as the due date for the Company to deliver its First Quarter Form 10-Q to September 30, 2015 and its Second Quarter Form 10-Q to October 15, 2015. On August 11, 2015, The Private Bank also extended the maturity date for the revolving credit facility to July 31, 2016.

Summary Of Significant Accoun23

Summary Of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2014
Summary Of Significant Accounting Policies Policy
Basis Of Presentation	The accounting and reporting policies of the Company and its subsidiaries conform to U.S. generally accepted accounting principles.
Principles Of Consolidation	The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Helios Nutrition, Ltd., Pride of Main Street, L.L.C., Starfruit, L.L.C., Fresh Made, Inc. and Starfruit Franchisor, L.L.C., Lifeway First Juice, Inc. (IL) (dissolved in February 2012), First Juice, Inc. (dissolved in December 2011) and Lifeway Wisconsin, Inc. Lifeway Wisconsin, Inc. was created to facilitate the operation of a production facility in Wisconsin.
Use Of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made in preparing the consolidated financial statements include the allowance for doubtful accounts, the valuation of investment securities, goodwill, intangible assets, and deferred taxes.
Revenue Recognition	Sales of Company produced dairy products are recorded at the time of shipment and the following four criteria have been met: (i) The product has been shipped and the Company has no significant remaining obligations; (ii) Persuasive evidence of an agreement exists; (iii) The price to the buyer is fixed or determinable and (iv) Collection is probable. In addition, shipping costs invoiced to the customers are included in net sales and the related cost in cost of sales. Discounts and allowances are reported as a reduction of gross sales unless the allowance is attributable to an identifiable benefit separable from the purchase of the product, the value of which can be reasonably estimated, which would be charged to the appropriate expense account.
Customer Concentration	Sales are predominately to companies in the retail food industry, located within the United States of America. Two major customers accounted for approximately 28%, 35% and 31% of gross sales for the years ended December 31, 2014, 2013 and 2012, respectively. These customers accounted for approximately 23%, 25% and 30% of accounts receivable as of December 31, 2014, 2013 and 2012, respectively.
Cash And Cash Equivalents	All highly liquid investments purchased with an original maturity of three months or less are considered to be cash equivalents. The Company maintains cash deposits at several institutions located in the greater Chicago, Illinois and Philadelphia, Pennsylvania metropolitan areas.
Investments	All investment securities are classified as available-for-sale and are carried at fair value. Unrealized gains and losses on available-for-sale securities are reported as a separate component of stockholders’ equity. Amortization, accretion, interest and dividends, realized gains and losses, and declines in value judged to be other-than-temporary on available-for-sale securities are recorded in other income. All of the Company's securities are subject to a periodic impairment evaluation. This evaluation depends on the specific facts and circumstances. Factors that we consider in determining whether an other-than-temporary decline in value has occurred include: the market value of the security in relation to its cost basis; the financial condition of the investee; and the intent and ability to retain the investment for a sufficient period of time to allow for possible recovery in the market value of the investment.
Accounts Receivable	Credit terms are extended to customers in the normal course of business. The Company performs ongoing credit evaluations of its customers’ financial condition and generally requires no collateral. Balances expected to be paid beyond one year are classified as long-term. Accounts receivable are recorded at invoice amounts, and reduced to their estimated net realizable value by recognition of an allowance for doubtful accounts and anticipated discounts. The Company’s estimate of the allowances for doubtful accounts and anticipated discounts are based upon historical experience, its evaluation of the current status and contract terms of specific receivables, and unusual circumstances, if any. Accounts are considered past due if payment is not made on a timely basis in accordance with the Company’s credit terms. Accounts considered uncollectible are charged against the allowance.
Inventories	Inventories are stated at the lower of cost or market. Our products are valued using the first in, first out method. The costs of inventories include raw materials, direct labor and indirect production and overhead costs.
Property And Equipment	Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the related assets. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is recognized in income for the period. The cost of maintenance and repairs is charged to expense as incurred; significant renewals and betterments are capitalized. Property and equipment is being depreciated over the following useful lives: Category Years Buildings and improvements 31 and 39 Machinery and equipment 5 – 12 Office equipment 5 – 7 Vehicles 5 Leasehold improvements Shorter of expected useful life or lease term
Intangible Assets Acquired In Business Combinations	The Company accounts for intangible assets at historical cost. Intangible assets acquired in a business combination are recorded under the purchase method of accounting at their estimated fair values at the date of acquisition. Goodwill represents the excess purchase price over the fair value of the net tangible and other identifiable intangible assets acquired. Goodwill is not amortized, but is reviewed for impairment at least annually. Brand assets represent the fair value of brands acquired. The Company amortizes other intangible assets over their estimated useful lives, as disclosed in the table below. The Company reviews intangible assets and their related useful lives at least once per year to determine if any adverse conditions exist that would indicate the carrying value of these assets may not be recoverable. The Company conducts more frequent impairment assessments if certain conditions exist, including: a change in the competitive landscape, any internal decisions to pursue new or different strategies, a loss of a significant customer, or a significant change in the market place including changes in the prices paid for the Company’s products or changes in the size of the market for the Company’s products. If the estimate of an intangible asset’s remaining useful life is changed, the remaining carrying amount of the intangible asset is amortized prospectively over the revised remaining useful life. Intangible assets are being amortized over the following useful lives: Category Years Recipes 4 Trade names 8-15 Formula 10 Customer relationships 8-12
Income Taxes	Deferred income taxes are the result of temporary differences that arise from income and expense items reported for financial accounting and tax purposes in different periods. Deferred taxes are classified as current or non-current, depending on the classification of the assets and liabilities to which they relate. Deferred taxes arising from temporary differences that are not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. The principal sources of temporary differences are different depreciation and amortization methods for financial statement and tax purposes, unrealized gains or losses related to investments, capitalization of indirect costs for tax purposes, purchase price adjustments, and the recognition of an allowance for doubtful accounts for financial statement purposes. The Company has analyzed filing positions in all of the federal and state jurisdictions where it is required to file income tax returns, as well as all open tax years in these jurisdictions. The only periods subject to examination for the Company’s federal returns are the 2011, 2012 and 2013 tax years. The Company believes that its income tax filing positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in a material change to its financial position.
Treasury Stock	Treasury stock is recorded using the cost method.
Advertising And Promotional Costs	The Company expenses advertising costs as incurred. For the years ended December 31, 2014, 2013 and 2012 total advertising expenses were $3,875,384, $2,685,691 and $2,679,798, respectively.
Earnings Per Common Share	Earnings per common share were computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period.
Segments	The Company has two separate operating segments, the sale of fermented dairy products and three retail locations in Illinois that sell the Company’s fermented dairy products. The Company has determined reportable segments based on how the Company’s chief operating decision maker manages the business and in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating decision maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Chief Financial Officer and the board of directors that makes strategic decisions. Substantially all of the consolidated revenues of the Company relate to the sale of fermented dairy products which are produced using the same processes and materials and are sold to consumer retail food sellers through direct delivery and distributors in the United States.

Summary Of Significant Accoun24

Summary Of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2014
Summary Of Significant Accounting Policies Tables
Schedule Of Property And Equipment, Estimated Useful Lives	Category Years Buildings and improvements 31 and 39 Machinery and equipment 5 – 12 Office equipment 5 – 7 Vehicles 5 Leasehold improvements Shorter of expected useful life or lease term
Schedule Of Intangible Assets Useful Lives	Category Years Recipes 4 Trade names 8-15 Formula 10 Customer relationships 8-12

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2014
Intangible Assets Tables
Schedule Of Accumulated Amortization Of Intangible Assets	December 31, 2014 December 31, 2013 Cost Accumulated Amortization Cost Accumulated Amortization Recipes $ 43,600 $ 43,600 $ 43,600 $ 43,600 Customer lists and other customer related intangibles 4,529,200 2,926,719 4,504,200 2,474,790 Customer relationship 985,000 666,869 985,000 596,785 Trade names 2,248,000 1,178,198 2,248,000 1,028,334 Formula 438,000 368,650 438,000 324,850 $ 8,243,800 $ 5,184,036 $ 8,218,800 $ 4,468,359
Amortization Expense On Future Intangible Assets	2015 $ 715,677 2016 697,427 2017 671,877 2018 634,863 2019 209,578 Thereafter 130,342 $ 3,059,764

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2014
Investments Tables
Schedule Of Cost And Fair Value Of Available For Sale Investments	The cost and fair value of investments classified as available for sale are as follows: December 31, 2014 Cost Unrealized Gains Unrealized Losses Fair Value Equities $ 530,328 $ 19,608 $ (64,046) $ 485,890 Mutual Funds 445,337 0 (10,624) 434,713 Preferred Securities 180,120 195 (2,075) 178,240 Corporate Bonds 1,948,596 1,880 (270,179) 1,680,297 Total $ 3,104,381 $ 21,683 $ (346,924) $ 2,779,140 December 31, 2013 Cost Unrealized Gains Unrealized Losses Fair Value Equities $ 1,006,169 $ 98,213 $ (32,181) $ 1,072,201 Mutual Funds 54,847 1,994 0 56,841 Preferred Securities 464,585 12,960 (15,449) 462,096 Corporate Bonds 973,333 1,329 (49,420) 925,242 Total $ 2,498,934 $ 114,496 $ (97,050) $ 2,516,380 December 31, 2012 Cost Unrealized Gains Unrealized Losses Fair Value Equities $ 639,974 $ 90,875 $ (5,190 ) $ 725,659 Corporate Bonds 1,135,064 16,212 (7,047 ) 1,144,229 Total $ 1,775,038 $ 107,087 $ (12,237 ) $ 1,869,888
Schedule Of Gross Unrealized Loss On Investments	The following table shows the gross unrealized losses and fair value of the Company's investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December, 2014, 2013 and 2012: Less Than 12 Months 12 Months or Greater Total December 31, 2014 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Equities $ 162,268 $ (49,053 ) $ 141,417 $ (14,993 ) $ 303,685 $ (64,046 ) Mutual Funds 434,713 (10,624 ) 0 0 434,713 (10,624 ) Preferred Securities 80,640 (2,075 ) 0 0 80,640 (2,075 ) Corporate Bonds 1,056,140 (194,641 ) 497,277 (75,538 ) 1,553,417 (270,179 ) $ 1,733,761 $ (256,393 ) $ 638,694 $ (90,531 ) $ 2,372,455 $ (346,924 ) Less Than 12 Months 12 Months or Greater Total December 31, 2013 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Equities $ 213,222 $ (32,180 ) $ 0 $ 0 $ 213,222 $ (32,180 ) Mutual Funds 0 0 0 0 0 0 Preferred Securities 224,125 (15,449 ) 0 0 224,125 (15,449 ) Corporate Bonds 615,986 (42,827 ) 96,726 (6,593 ) 712,712 (49,420 ) $ 1,053,333 $ (90,456 ) $ 96,726 $ (6,593 ) $ 1,150,059 $ (97,049 ) Less Than 12 Months 12 Months or Greater Total December 31, 2012 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Equities $ 63,620 $ (3,745 ) $ 21,910 $ (1,445 ) $ 85,530 $ (5,190 ) Corporate Bonds 301,229 (2,721 ) 193,930 (4,326 ) 495,159 (7,047 ) $ 364,849 $ (6,466 ) $ 215,840 $ (5,771 ) $ 580,689 $ (12,237 )

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2014
Inventories Tables
Schedule Of Inventories	December 31, 2014 2013 Finished goods $ 2,373,476 $ 3,027,900 Production supplies 2,069,742 2,690,097 Raw materials 1,371,001 1,181,011 Total inventories $ 5,814,219 $ 6,899,008

Property And Equipment (Tables)

Property And Equipment (Tables)	12 Months Ended
	Dec. 31, 2014
Property And Equipment Tables
Schedule Of Property And Equipment	December 31, 2014 2013 Land $ 1,856,370 $ 1,856,370 Buildings and improvements 15,125,803 14,587,022 Machinery and equipment 20,434,910 19,633,164 Vehicles 1,244,560 1,244,560 Office equipment 465,801 433,679 Construction in process 2,408,754 177,519 41,536,198 37,932,314 Less accumulated depreciation 19,643,803 17,107,866 Total property and equipment $ 21,892,395 $ 20,824,448

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2014
Accrued Expenses Tables
Schedule Of Accrued Expenses	December 31, 2014 2013 Accrued payroll and payroll taxes $ 891,763 $ 477,312 Accrued property tax 331,278 306,608 Other 843,035 500,140 $ 2,066,076 $ 1,284,060

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2014
Notes Payable Tables
Schedule Of Notes Payable	December 31, 2014 2013 Note payable to Private Bank in monthly installments of $42,222, plus variable interest rate, currently at 2.6677%, with a balloon payment for the remaining balance. Collateralized by substantially all assets of the Company. In May 2013, the Company refinanced this note under similar terms which extended the maturity date to May 31, 2018. $ 4,352,222 $ 4,858,889 Note payable to Private Bank in monthly installments of $27,778, plus variable interest rate, currently at 2.6677% with a balloon payment for the remaining balance, maturing on May 31, 2019, collateralized by substantially all assets of the Company. 4,583,333 4,916,667 Notes payable to Ford Credit Corp. payable in monthly installments of $1,778 at 5.99%, due July 2015, secured by transportation equipment. 12,198 32,124 Note payable to Fletcher Jones of Chicago, Ltd LLC in monthly installments of $1,769 at 6.653%, due May 24, 2017, secured by transportation equipment. 49,047 66,334 Total notes payable 8,996,800 9,874,014 Less current maturities 872,285 875,002 Total long-term portion $ 8,124,515 $ 8,999,012
Maturities Of Notes Payable	For the 12 months ending December 31, 2015 $ 872,285 2016 859,876 2017 849,084 2018 3,165,566 2019 3,249,989 Total $ 8,996,800

Commitments And Contingencies (

Commitments And Contingencies (Tables)	12 Months Ended
	Dec. 31, 2014
Commitments And Contingencies Tables
Schedule Of Annual Minimum Base Rental Payments	For the year ending December 31, 2015 $ 70,539 2016 72,653 2017 74,832 2018 47,761 2019 49,194 Total $ 314,979

Provision For Income Taxes (Tab

Provision For Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2014
Provision For Income Taxes Tables
Summary Of The Provision For Income Taxes	For the Years Ended December 31, 2014 2013 2012 Current: Federal $ 2,142,526 $ 2,551,505 $ 2,757,332 State and local 819,478 554,174 882,640 Total current 2,962,004 3,105,679 3,639,972 Deferred (719,778 ) (238,804 ) (434,896 ) Provision for income taxes $ 2,242,226 $ 2,866,875 $ 3,205,076
Reconciliation Of Provision For Income Taxes At Statutory Rate	2014 2013 2012 Amount Percentage Amount Percentage Amount Percentage Federal income tax expense computed at the statutory rate $ 1,427,534 34.0 % $ 2,666,223 34.0 % $ 3,000,457 34.0 % State and local tax expense, net 214,970 5.1 % 744,974 9.5 % 838,363 9.5 % U.S. domestic manufacturers’ deduction & other permanent differences 463,646 11.0 % (455,442 ) (5.8 )% (427,525 ) (4.9 )% Additions for tax positions of prior years 215,102 5.1 % 0 0 % 0 0 % Change in tax rates (138,008 ) (3.2 )% 0 0 % 0 0 % Change in tax estimate 58,982 1.4 % (88,880 ) (1.1 )% (206,219 ) (2.2 )% Provision for income taxes $ 2,242,226 53.4 % $ 2,866,875 36.6 % $ 3,205,076 36.4 %
Reconciliation of amount of unrecognized tax benefits	2014 2013 2012 Balance at January 1 $ — $ — $ — Additions for tax positions of prior years 215,102 — — Balance at December 31 $ 215,102 $ — $ —
Schedule Of Deferred Tax Assets And Liabilities	December 31, 2014 2013 2012 Non-current deferred tax assets (liabilities) arising from: Temporary differences - Accumulated depreciation and amortization $ (2,075,095 ) $ (2,896,058 ) $ (3,164,716 ) Capital loss carry-forwards 0 52,632 136,198 Total non-current net deferred tax liabilities (2,075,095 ) (2,843,426 ) (3,028,518 ) Current deferred tax assets arising from: Capital loss carry-forward 8,620 0 0 Unrealized losses (gain) on investments 127,234 (7,589 ) (41,260 ) Inventory 233,366 307,910 265,072 Allowance for doubtful accounts and discounts 39,120 21,750 10,875 Total current deferred tax assets 408,340 322,071 234,687 Net deferred tax liability $ (1,666,755 ) $ (2,521,355 ) $ (2,793,831 )

Supplemental Cash Flow Inform33

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2014
Supplemental Cash Flow Information Tables
Summary Of Cash Paid For Interest And Income Taxes	For the Years Ended December 31, 2014 2013 2012 Interest $ 266,581 $ 205,739 $ 191,277 Income taxes $ 3,079,602 $ 4,362,991 $ 3,413,687

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2014
Fair Value Measurements Tables
Schedule Of Fair Value Assets And Liabilities As Classified	Assets and Liabilities at Fair Value as of December 31, 2014 Level 1 Level 2 Level 3 Total Certificate of Deposits 0 149,965 0 149,965 Mutual Funds 434,713 0 0 434,713 Stocks 485,890 0 0 485,890 Preferred Securities 0 178,240 0 178,240 Corporate Bonds 0 1,680,297 0 1,680,297 Notes Payable 0 8,996,800 0 8,996,800 Assets and Liabilities at Fair Value as of December 31, 2013 Level 1 Level 2 Level 3 Total Certificate of Deposits 0 15,373 0 15,373 Mutual Funds 56,841 0 0 56,841 Stocks 1,072,201 0 0 1,072,201 Preferred Securities 0 462,096 0 462,096 Corporate Bonds 0 925,242 0 925,242 Notes Payable 0 9,874,014 0 9,874,014

Segments And Products (Tables)

Segments And Products (Tables)	12 Months Ended
	Dec. 31, 2014
Segments And Products Tables
Schedule of sales of products by category	2014 2013 2012 Lifeway Farmer Cheese $ 10,266,319 $ 9,388,067 $ 9,777,033 Drinkable Kefir other than ProBugs 110,297,098 90,441,363 73,003,926 ProBugs 7,867,980 7,126,630 4,628,990 Frozen Kefir 1,784,319 2,010,034 2,344,058 Total sales $ 130,215,716 $ 108,966,094 $ 89,754,007

Summary Of Significant Accoun36

Summary Of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2014
Buildings And improvements [Member] | Minimum [Member]
Property and equipment, useful life	31 years
Buildings And improvements [Member] | Maximum [Member]
Property and equipment, useful life	39 years
Machinery And Equipment [Member] | Minimum [Member]
Property and equipment, useful life	5 years
Machinery And Equipment [Member] | Maximum [Member]
Property and equipment, useful life	12 years
Office Equipment [Member] | Minimum [Member]
Property and equipment, useful life	5 years
Office Equipment [Member] | Maximum [Member]
Property and equipment, useful life	7 years
Vehicles [Member]
Property and equipment, useful life	5 years

Summary Of Significant Accoun37

Summary Of Significant Accounting Policies (Details 1)	12 Months Ended
	Dec. 31, 2014
Recipes [Member]
Intangible assets, useful lives	4 years
Trade Names [Member] | Minimum [Member]
Intangible assets, useful lives	8 years
Trade Names [Member] | Maximum [Member]
Intangible assets, useful lives	15 years
Formula [Member]
Intangible assets, useful lives	10 years
Customer Relationships [Member] | Minimum [Member]
Intangible assets, useful lives	8 years
Customer Relationships [Member] | Maximum [Member]
Intangible assets, useful lives	12 years

Summary Of Significant Accoun38

Summary Of Significant Accounting Policies (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Summary Of Significant Accounting Policies Details Narrative
Percentage of gross sales	28.00%	35.00%	31.00%
Percentage of accounts receivable	23.00%	25.00%	30.00%
Total advertising expenses	$ 3,875,384	$ 2,685,691	$ 2,679,798

Intangible Assets (Details)

Intangible Assets (Details) - USD ($)	Dec. 31, 2014	Dec. 30, 2014	Dec. 31, 2013
Cost	$ 8,243,800		$ 8,218,800
Accumulated Amortization	5,184,036		4,468,359
Recipes [Member]
Cost	43,600		43,600
Accumulated Amortization	43,600		43,600
Customer Lists And Other Customer Related Intangibles [Member]
Cost	4,529,200		4,504,200
Accumulated Amortization	2,926,719		2,474,790
Customer Relationships [Member]
Cost		$ 985,000	985,000
Accumulated Amortization		$ 666,869	596,785
Trade Names [Member]
Cost	2,248,000		2,248,000
Accumulated Amortization	1,178,198		1,028,334
Formula [Member]
Cost	438,000		438,000
Accumulated Amortization	$ 368,650		$ 324,850

Intangible Assets (Details 1)

Intangible Assets (Details 1)	Dec. 31, 2014USD ($)
Intangible Assets Details 1
2,015	$ 715,677
2,016	697,427
2,017	671,877
2,018	634,863
2,019	209,578
Thereafter	130,342
Finite-Lived Intangible Assets, Net, Total	$ 3,059,764

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Intangible Assets Details Narrative
Amortization expense	$ 715,677	$ 712,803	$ 754,817

Investments (Details)

Investments (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cost	$ 3,104,381	$ 2,498,934	$ 1,775,038
Unrealized Gains	21,683	114,496	107,087
Unrealized Losses	(346,924)	(97,050)	(12,237)
Fair Value	2,779,140	2,516,380	1,869,888
Equity Securities [Member]
Cost	530,328	1,006,169	639,974
Unrealized Gains	19,608	98,213	90,875
Unrealized Losses	(64,046)	(32,181)	(5,190)
Fair Value	485,890	1,072,201	725,659
Mutual Funds [Member]
Cost	445,337	54,847
Unrealized Gains	0	1,994
Unrealized Losses	(10,624)	0
Fair Value	434,713	56,841
Preferred Securities [Member]
Cost	180,120	464,585
Unrealized Gains	195	12,960
Unrealized Losses	(2,075)	(15,449)
Fair Value	178,240	462,096
Corporate Bond Securities [Member]
Cost	1,948,596	973,333	1,135,064
Unrealized Gains	1,880	1,329	16,212
Unrealized Losses	(270,179)	(49,420)	(7,047)
Fair Value	$ 1,680,297	$ 925,242	$ 1,144,229

Investments (Details 1)

Investments (Details 1) - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Less Than 12 Months, Fair Value	$ 1,733,761	$ 1,053,333	$ 364,849
Less Than 12 Months, Unrealized Losses	(256,393)	(90,456)	(6,466)
12 Months or Greater, Fair Value	638,694	96,726	215,840
12 Months or Greater, Unrealized Losses	(90,531)	(6,593)	(5,771)
Total, Fair Value	2,372,455	1,150,059	580,689
Total, Unrealized Losses	(346,924)	(97,049)	(12,237)
Equity Securities [Member]
Less Than 12 Months, Fair Value	162,268	213,222	63,620
Less Than 12 Months, Unrealized Losses	(49,053)	(32,180)	(3,745)
12 Months or Greater, Fair Value	141,417	0	21,910
12 Months or Greater, Unrealized Losses	(14,993)	0	(1,445)
Total, Fair Value	303,685	213,222	85,530
Total, Unrealized Losses	(64,046)	(32,180)	(5,190)
Mutual Funds [Member]
Less Than 12 Months, Fair Value	434,713	0
Less Than 12 Months, Unrealized Losses	(10,624)	0
12 Months or Greater, Fair Value	0	0
12 Months or Greater, Unrealized Losses	0	0
Total, Fair Value	434,713	0
Total, Unrealized Losses	(10,624)	0
Preferred Securities [Member]
Less Than 12 Months, Fair Value	80,640	224,125
Less Than 12 Months, Unrealized Losses	(2,075)	(15,449)
12 Months or Greater, Fair Value	0	0
12 Months or Greater, Unrealized Losses	0	0
Total, Fair Value	80,640	224,125
Total, Unrealized Losses	(2,075)	(15,449)
Corporate Bond Securities [Member]
Less Than 12 Months, Fair Value	1,056,140	615,986	301,229
Less Than 12 Months, Unrealized Losses	(194,641)	(42,827)	(2,721)
12 Months or Greater, Fair Value	497,277	96,726	193,930
12 Months or Greater, Unrealized Losses	(75,538)	(6,593)	(4,326)
Total, Fair Value	1,553,417	712,712	495,159
Total, Unrealized Losses	$ (270,179)	$ (49,420)	$ (7,047)

Investments (Details Narrative)

Investments (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Investments Details Narrative
Proceeds from sale of investments	$ 2,773,570	$ 3,001,016	$ 1,475,730
Gross realized gains	177,420	248,223	88,713
Gross realized losses	$ 78,467	$ 52,723	$ 17,427

Inventories (Details)

Inventories (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Finished goods	$ 2,373,476	$ 3,027,900
Production supplies	2,069,742	2,690,097
Raw materials	1,371,001	1,181,011
Total inventories	$ 5,814,219	$ 6,899,008

Property And Equipment (Details

Property And Equipment (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Property and equipment, gross	$ 41,536,198	$ 37,932,314
Less accumulated depreciation	19,643,803	17,107,866
Total property and equipment	21,892,395	20,824,448
Land [Member]
Property and equipment, gross	1,856,370	1,856,370
Buildings And improvements [Member]
Property and equipment, gross	15,125,803	14,587,022
Machinery And Equipment [Member]
Property and equipment, gross	20,434,910	19,633,164
Vehicles [Member]
Property and equipment, gross	1,244,560	1,244,560
Office Equipment [Member]
Property and equipment, gross	465,801	433,679
Construction In Progress [Member]
Property and equipment, gross	$ 2,408,754	$ 177,519

Property And Equipment (Detai47

Property And Equipment (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Depreciation expense	$ 2,535,937	$ 1,626,575	$ 1,629,594
Starfruit [Member]
Depreciation expense	$ 470,000

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Accrued Expenses Details
Accrued payroll and payroll taxes	$ 891,763	$ 477,312
Accrued property tax	331,278	306,608
Other	843,035	500,140
Total accrued expenses	$ 2,066,076	$ 1,284,060

Notes Payable (Details)

Notes Payable (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Total notes payable	$ 8,996,800	$ 9,874,014
Less current maturities	872,285	875,002
Total long-term portion	8,124,515	8,999,012
Notes Payable To Banks [Member]
Total notes payable	4,352,222	4,858,889
Note Payable To Private Bank [Member]
Total notes payable	4,583,333	4,916,667
Notes Payable To Ford Credit Corp [Member]
Total notes payable	12,198	32,124
Note Payable To Fletcher Jones Of Chicago Ltd Llc [Member]
Total notes payable	$ 49,047	$ 66,334

Notes Payable (Details 1)

Notes Payable (Details 1) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Notes Payable Details 1
2,015	$ 872,285
2,016	859,876
2,017	849,084
2,018	3,165,566
2,019	3,249,989
Total notes payable	$ 8,996,800	$ 9,874,014

Notes Payable (Details Narrativ

Notes Payable (Details Narrative)	Dec. 31, 2014USD ($)
Notes Payable Details Narrative
Revolving credit facility	$ 5,000,000

Commitments And Contingencies52

Commitments And Contingencies (Details)	Dec. 31, 2014USD ($)
Commitments And Contingencies Details
2,015	$ 70,539
2,016	72,653
2,017	74,832
2,018	47,761
2,019	49,194
Total	$ 314,979

Commitments And Contingencies53

Commitments And Contingencies (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Commitments And Contingencies Details Narrative
Total expenses on leases	$ 143,384	$ 347,164	$ 379,348

Provision For Income Taxes (Det

Provision For Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current:
Federal	$ 2,142,526	$ 2,551,505	$ 2,757,332
State and local	819,478	554,174	882,640
Total current	2,962,004	3,105,679	3,639,972
Deferred	(719,778)	(238,804)	(434,896)
Provision for income taxes	$ 2,242,226	$ 2,866,875	$ 3,205,076

Provision For Income Taxes (D55

Provision For Income Taxes (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Federal income tax expense computed at the statutory rate	$ 1,427,534	$ 2,666,223	$ 3,000,457
Federal income tax expense computed at the statutory rate, percentage	34.00%	34.00%	34.00%
State and local tax expense, net	$ 214,970	$ 744,974	$ 838,363
State and local tax expense, net, percentage	5.10%	9.50%	9.50%
U.S. domestic manufacturers' deduction & other permanent differences	$ 463,646	$ (455,442)	$ (427,525)
U.S. domestic manufacturers' deduction & other permanent differences, percentage	11.00%	(5.80%)	(4.90%)
Additions for tax positions of prior years	$ 215,102
Additions for tax positions of prior years, percentage	5.10%	0.00%	0.00%
Change in tax rates	$ (138,008)	$ 0	$ 0
Change in tax rates, percentage	(3.20%)	0.00%	0.00%
Change in tax estimate	$ 58,982	$ (88,880)	$ (206,219)
Change in tax estimate, percentage	1.40%	1.10%	2.20%
Provision for income taxes	$ 2,242,226	$ 2,866,875	$ 3,205,076
Provision for income taxes, percentage	53.40%	36.60%	36.40%

Provision For Income Taxes (D56

Provision For Income Taxes (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Provision For Income Taxes Details 2
Balance at January 1
Additions for tax positions of prior years	$ 215,102
Balance at December 31	$ 215,102

Provision For Income Taxes (D57

Provision For Income Taxes (Details 3) - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Non-current deferred tax assets (liabilities) arising from: Temporary differences -
Accumulated depreciation and amortization	$ (2,075,095)	$ (2,896,058)	$ (3,164,716)
Capital loss carry-forwards	0	52,632	136,198
Total non-current net deferred tax liabilities	(2,075,095)	(2,843,426)	3,028,518
Current deferred tax assets arising from:
Capital loss carry-forward	8,620	0	0
Unrealized losses (gain) on investments	127,234	(7,589)	(41,260)
Inventory	233,366	307,910	265,072
Allowance for doubtful accounts and discounts	39,120	21,750	10,875
Total current deferred tax assets	408,340	322,071	234,687
Net deferred tax liability	$ (1,666,755)	$ (2,521,355)	$ (2,793,831)

Provision For Income Taxes (D58

Provision For Income Taxes (Details Narrative) - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Provision For Income Taxes Details Narrative
Interest and penalties	$ 64,600

Supplemental Cash Flow Inform59

Supplemental Cash Flow Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Supplemental Cash Flow Information Details
Interest	$ 266,581	$ 205,739	$ 191,277
Income taxes	$ 3,079,602	$ 4,362,991	$ 3,413,687

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Certificate of Deposits	$ 149,965	$ 15,373
Mutual Funds	434,713	56,841
Stocks	485,890	1,072,201
Preferred Securities	178,240	462,096
Corporate Bonds	1,680,297	925,242
Notes Payable	8,996,800	9,874,014
Level1 [Member]
Certificate of Deposits	0	0
Mutual Funds	434,713	56,841
Stocks	485,890	1,072,201
Preferred Securities	0	0
Corporate Bonds	0	0
Notes Payable	0	0
Level2 [Member]
Certificate of Deposits	149,965	15,373
Mutual Funds	0	0
Stocks	0	0
Preferred Securities	178,240	462,096
Corporate Bonds	1,680,297	925,242
Notes Payable	8,996,800	9,874,014
Level3 [Member]
Certificate of Deposits	0	0
Mutual Funds	0	0
Stocks	0	0
Preferred Securities	0	0
Corporate Bonds	0	0
Notes Payable	$ 0	$ 0

Segments And Products (Details)

Segments And Products (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Total sales	$ 130,215,716	$ 108,966,094	$ 89,754,007
Lifeway Farmer Cheese [Member]
Total sales	10,266,319	9,388,067	9,777,033
Drinkable Kefir Other Than ProBugs [Member]
Total sales	110,297,098	90,441,363	73,003,926
ProBugs[Member]
Total sales	7,867,980	7,126,630	4,628,990
Frozen Kefir [Member]
Total sales	$ 1,784,319	$ 2,010,034	$ 2,344,058