United-Guardian (UG) 10-Q 9 May 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	1-May-14
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'UNITED GUARDIAN INC	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	4,596,439
Amendment Flag	'false	'
Entity Central Index Key	'0000101295	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

Statements_of_Income_Unaudited

Statements of Income (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net sales	$3,959,492	$3,952,161
Costs and expenses:	'	'
Cost of sales	1,432,918	1,411,156
Operating expenses	615,642	561,568
Total costs and expenses	2,048,560	1,972,724
Income from operations	1,910,932	1,979,437
Other income:	'	'
Investment income	33,819	54,182
Income from damage settlement	24,402	292,830
Total other income	58,221	347,012
Income before income taxes	1,969,153	2,326,449
Provision for income taxes	633,400	761,800
Net income	$1,335,753	$1,564,649
Earnings per common share (Basic and Diluted) (in Dollars per share)	$0.29	$0.34
Weighted average shares – basic and diluted (in Shares)	4,596,439	4,596,439

Statements_of_Comprehensive_In

Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net income	$1,335,753	$1,564,649
Other comprehensive income:	'	'
Unrealized gain on marketable securities during period	89,915	25,712
Income tax expense related to other comprehensive income	31,282	9,032
Other comprehensive income, net of tax	58,633	16,680
Comprehensive income	$1,394,386	$1,581,329

Balance_Sheets_Current_Period_

Balance Sheets (Current Period Unaudited) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Current assets:	'	'
Cash and cash equivalents	$973,186	$1,634,262
Marketable securities	10,484,700	8,863,205
Accounts receivable, net of allowance for doubtful accounts of $18,000 at March 31, 2014 and December 31, 2013	2,689,091	1,790,747
Receivable in connection with damage settlement	'	48,805
Inventories (net)	1,663,653	1,610,747
Prepaid expenses and other current assets	145,260	130,001
Deferred income taxes	229,451	229,451
Total current assets	16,185,341	14,307,218
Property, plant and equipment:	'	'
Land	69,000	69,000
Factory equipment and fixtures	4,095,095	4,090,968
Building and improvements	2,766,319	2,766,319
Waste disposal plant	133,532	133,532
Total property, plant and equipment	7,063,946	7,059,819
Less: Accumulated depreciation	5,771,469	5,725,318
Total property, plant and equipment, net	1,292,477	1,334,501
Other asset:	38,662	9,147
TOTAL ASSETS	17,516,480	15,650,866
Accounts payable	209,008	385,699
Accrued expenses	860,840	728,015
Deferred revenue	10,000	'
Income taxes payable	605,449	131,638
Total current liabilities	1,685,297	1,245,352
Deferred income taxes	200,869	169,587
Stockholders’ equity:	'	'
Common stock $.10 par value, authorized, 10,000,000 shares; 4,596,439 shares issued and outstanding at March 31, 2014 and December 31, 2013	459,644	459,644
Accumulated other comprehensive income	190,757	132,123
Retained earnings	14,979,913	13,644,160
Total stockholders’ equity	15,630,314	14,235,927
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$17,516,480	$15,650,866

Balance_Sheets_Current_Period_1

Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Accounts receivable, allowance (in Dollars)	$18,000	$18,000
Common stock, par value (in Dollars per share)	$0.10	$0.10
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	4,596,439	4,596,439
Common stock, shares outstanding	4,596,439	4,596,439

Statements_of_Cash_Flows_Unaud

Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net income	$1,335,753	$1,564,649
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	46,151	47,749
Realized loss (gain) on sale of investments	17,582	-452
(Decrease) increase in cash resulting from changes in operating assets and liabilities:	'	'
Accounts receivable	-898,344	-975,887
Receivable from damage settlement	48,805	420,440
Inventories	-52,906	184,746
Prepaid expenses and other assets	-44,774	-35,328
Prepaid income taxes	'	3,602
Accounts payable	-176,691	-9,544
Accrued expenses and taxes payable	606,636	863,913
Deferred revenue	10,000	'
Net cash provided by operating activities	892,212	2,063,888
Cash flows from investing activities:	'	'
Acquisition of property, plant and equipment	-4,127	-24,780
Proceeds from sale of marketable securities	459,723	26,629
Purchase of marketable securities	-2,008,884	-1,785,007
Net cash used in investingactivities	-1,553,288	-1,783,158
Net (decrease) increase in cash and cashequivalents	-661,076	280,730
Cash and cash equivalents at beginning of period	1,634,262	1,748,382
Cash and cash equivalents at end of period	$973,186	$2,029,112

Note_1_Nature_of_Business

Note 1 - Nature of Business	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Nature of Operations [Text Block]	'
	1	Nature of Business
	United-Guardian, Inc. (the “Company”) is a Delaware corporation that, through its Guardian Laboratories division, conducts research, product development, manufacturing and marketing of cosmetic ingredients and other personal care products, pharmaceuticals, medical and health care products and proprietary specialty industrial products.

Note_2_Basis_of_Presentation

Note 2 - Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Basis of Accounting [Text Block]	'
	2	Basis of Presentation
	Interim financial statements of the Company are prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States of America pursuant to the requirements for reporting such interim financial information on Form 10-Q and Regulation SX. In the opinion of management, all adjustments, consisting solely of normal recurring accruals considered necessary for the fair presentation of financial statements for the interim periods, have been included. The results of operations for the current period are not necessarily indicative of results that ultimately may be achieved for any other interim period or for the year ending December 31, 2014. The interim unaudited financial statements and notes thereto should be read in conjunction with the audited financial statements and notes thereto contained in our Annual Report on Form 10-K for the year ended December 31, 2013.

Note_3_StockBased_Compensation

Note 3 - Stock-Based Compensation	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	3	Stock-Based Compensation
	The Company maintains a stock-based compensation plan for its employees and directors, which is more fully described in the Company's Annual Report on Form 10-K for the year ended December 31, 2013. The Company recognizes the fair value of all share-based payments to employees and directors, including grants of employee and director stock options, as a compensation expense in the financial statements. As of March 31, 2014, the Company had no share-based awards outstanding and exercisable and did not grant any options during the three months ended March 31, 2014.

Note_4_Recent_Accounting_Prono

Note 4 - Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2014
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]	'
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	'
	4	Recent Accounting Pronouncements
	In February 2013, FASB issued ASU 2013-02, "Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income." This update requires the Company to report amounts being reclassified out of accumulated other comprehensive income by component. It also requires the Company to report either on the face of the financial statements or in the notes any significant amounts reclassified out of accumulated other comprehensive income, by the respective line items of net income, but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For those amounts not required to be reclassified directly to net income in their entirety, the Company is required to cross-reference other disclosures that provide further details about the amounts. The amendments are effective for reporting periods beginning after December 15, 2012. The Company adopted this amendment effective January 1, 2013. The adoption of this amendment did not have a material impact on the Company's results of operations.
	In December of 2013, FASB issued ASU 2013-12, “Definition of a Public Business Entity.” This amendment clarifies the definition of what is a public entity as compared to a private entity to minimize the inconsistency and complexity of having multiple definitions for applying U.S. generally accepted accounting principles. It does not affect existing requirements and there is no effective date for adoption. This amendment does not affect the Company’s results of operations.
	In December of 2013, FASB issued ASU 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” This amendment requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward with exceptions. This amendment only applies to entities that have an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. This update became effective for interim and annual reporting periods beginning after December 15, 2013. The update does not have a material impact on the Company’s results of operation and at the present time it does not apply to the Company.

Note_5_Investments

Note 5 - Investments	3 Months Ended
	Mar. 31, 2014
Investments, Debt and Equity Securities [Abstract]	'
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	'
	5	Investments
	The fair values of the Company’s marketable securities are determined in accordance with GAAP, with fair value being defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.  As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability.  As a basis for considering such assumptions, the Company utilizes the three-tier value hierarchy, as prescribed by GAAP, which prioritizes the inputs used in measuring fair value, as follows:
		·	Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.
		·	Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially for the full term of the financial statement.
		·	Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement.
	The following available-for-sale securities, which comprise all the Company’s marketable securities, are re-measured to fair value on a recurring basis and are valued using Level 1 inputs, which are quoted prices (unadjusted) for identical assets in active markets.
	31-Mar-14
			Cost		Fair Value		Unrealized
							Gain (Loss)
	Available for sale:
	Fixed income mutual funds		$	9,577,420	$	9,742,243	$	164,823
	Equity and other mutual funds			615,157		742,457		127,300
			$	10,192,577	$	10,484,700	$	292,123
	31-Dec-13
			Cost		Fair Value		Unrealized
							Gain (Loss)
	Available for sale:
	Corporate bonds (matures within 1 year)		$	203,920	$	200,053	$	(3,867	)
	Fixed income mutual funds			7,325,930		7,425,687		99,757
	Equity and other mutual funds			1,131,147		1,237,465		106,318
			$	8,660,997	$	8,863,205	$	202,208
	Proceeds from the sale and redemption of marketable securities amounted to $459,723 for the first quarter of 2014, and generated realized losses of $17,582. Proceeds from the sale and redemption of marketable securities amounted to $26,629 for the first quarter of 2013, and generated realized gains of $452.
	Investment income consisted principally of unrealized and realized gains and losses, interest income from bonds and money market funds and dividend income from bond funds and mutual funds.
	Marketable securities include investments in equity mutual funds, government securities and corporate bonds which are classified as “available-for-sale” securities and are reported at their fair values. Unrealized gains and losses on “available-for-sale” securities are reported as accumulated other comprehensive income (loss) in stockholders’ equity, net of the related tax effects. Investment income is recognized when earned. Realized gains and losses on sales of investments are determined on a specific identification basis.

Note_6_Inventories

Note 6 - Inventories	3 Months Ended
	Mar. 31, 2014
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	6	Inventories
			March 31,		December 31,
			2014		2013
	Inventories consist of the following:
	Raw materials and work in process		$	530,421	$	488,757
	Finished products			1,133,232		1,121,990
			$	1,663,653	$	1,610,747
	Inventories are valued at the lower of cost or current market value. Cost is determined using the average cost method, which approximates cost determined by the first-in, first-out (“FIFO”) method. Finished products inventories at March 31, 2014 and December 31, 2013 are stated net of a reserve of $20,000 for slow moving and obsolete inventory.

Note_7_Supplemental_Financial_

Note 7 - Supplemental Financial Statement Information	3 Months Ended
	Mar. 31, 2014
Supplemental Cash Flow Elements [Abstract]	'
Cash Flow, Supplemental Disclosures [Text Block]	'
	7	Supplemental Financial Statement Information
	For purposes of the Statements of Cash Flows, the Company considers all highly liquid investments purchased with an initial maturity of three months or less to be cash equivalents. For the first quarter of 2014 there were cash payments for taxes in the amount of $159,589, as compared with $5,474 in the first quarter of 2013. There were no payments for interest for the first quarters of 2014 and 2013.
	Research and development expenses amounted to $146,968 and $148,300 for the first quarters of 2014 and 2013, respectively, and are included in operating expenses.
	There were no dividends paid in the first quarters of 2014 and 2013.

Note_8_Income_Taxes

Note 8 - Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	8	Income Taxes
	The Company’s tax provision is based on its estimated annual effective tax rate. The Company continues to fully recognize its tax benefits, which are offset by a valuation allowance to the extent that it is more likely than not that the deferred tax assets will not be realized. As of December 31, 2013 and March 31, 2014, the Company did not have any unrecognized tax benefits.
	The Company files consolidated Federal income tax returns in the United States with its inactive subsidiary, and separate income tax returns in New York State. The Company is subject to examination by the Internal Revenue Service and by New York State for years 2010 through 2013. In March 2014 the Department of Taxation of the State of New York (“DOT”) commenced a routine examination of the Company’s income tax returns for years 2010 through 2012. The Company has already provided the DOT with some preliminary information that it requested.
	The Company's policy is to recognize interest and penalties as interest expense.

Note_9_Comprehensive_Income

Note 9 - Comprehensive Income	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Comprehensive Income (Loss) Note [Text Block]	'
	9	Comprehensive Income
	Accumulated other comprehensive income comprises unrealized gains and losses on marketable securities net of the related tax effect.
	Changes in Accumulated Other Comprehensive Income		31-Mar-14			31-Mar-13
	Beginning balance		$	132,123		$	178,979
	Unrealized gain on marketable securities before reclassifications - net of tax			76,216			16,228
	Realized (loss)/gain on sale of securities reclassified from accumulated other comprehensive income			(17,582	)		452
	Ending balance - net of tax		$	190,757		$	195,659

Note_10_Income_from_Damage_Set

Note 10 - Income from Damage Settlement	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block Supplement [Abstract]	'
Legal Matters and Contingencies [Text Block]	'
	10	Income from Damage Settlement
	In May 2012 the Company’s supplier of RENACIDIN™ IRRIGATION (“RENACIDIN”) curtailed production due to manufacturing issues. As a result of that curtailment, the Company and its supplier entered into a settlement agreement whereby the supplier agreed to pay the Company $518,050 for profit the Company lost during 2012 as a result of the curtailment, and an additional $97,610 a month beginning January 1, 2013 for each month that the curtailment continued. It also agreed to pay an additional $48,805 for the first two months after shipments resumed, and another $24,402 for the third month after production resumed, as “ramp-up” payments. The payments were to continue until either the supply contract ended in January 2014, or until product delivery resumed, whichever occurred first. Because deliveries resumed at the end of October 2013, the obligation to pay $97,610 per month ceased as of that time, and the supplier’s remaining obligation was to pay the ramp-up payments for the following three months. As of the end of the first quarter of 2014 all payments have been made. The income from the damage settlement for the first quarter of 2014 amounted to $24,402, as compared with $292,830 for the first quarter of 2013.

Note_11_Defined_Contribution_P

Note 11 - Defined Contribution Plan	3 Months Ended
	Mar. 31, 2014
Compensation and Retirement Disclosure [Abstract]	'
Pension and Other Postretirement Benefits Disclosure [Text Block]	'
	11	Defined Contribution Plan
	The Company sponsors a 401(k) defined contribution plan ("DC Plan") that provides for a dollar-for-dollar employer matching contribution of the first 4% of each employee's pay that is deferred by the employee. Employees become fully vested in employer matching contributions after one year of employment. In addition, the Company has been accruing $175,000 per year toward the payment of a discretionary contribution to each employee’s 401(k) account based on a pay-to-pay formula that qualifies the DC Plan as a safe harbor under IRS regulations. The Company accrued $43,750 in contributions to the DC Plan for each of the first quarters of 2014 and 2013. For the first quarters of 2014 and 2013 the Company did not make any discretionary contributions to the DC Plan.

Note_12_Related_Party_Transact

Note 12 - Related Party Transactions	3 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	12.	Related Party Transactions
	During the three-month period ended March 31, 2014 the Company did not pay any fees to Bonamassa, Maietta and Cartelli, LLP for accounting and tax services as compared with $2,000 paid in the three-month period ended March 31, 2013. Lawrence Maietta, a partner in Bonamassa, Maietta and Cartelli, LLP, is a director of the Company.

Note_13_Other_Information

Note 13 - Other Information	3 Months Ended
	Mar. 31, 2014
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]	'
Other Liabilities Disclosure [Text Block]	'
	13	Other Information
	Accrued Expenses
			31-Mar-14		31-Dec-13
	Bonuses		$	375,000	$	250,000
	Distribution fees			203,384		196,558
	Payroll and related expenses			113,304		104,394
	Annual report expenses			44,577		66,000
	Audit fee			40,019		73,269
	Employer 401K contribution			43,750		---
	Other			40,806		37,794
	Total Accrued Expenses		$	860,840	$	728,015

Note_5_Investments_Tables

Note 5 - Investments (Tables)	3 Months Ended
	Mar. 31, 2014
Investments, Debt and Equity Securities [Abstract]	'
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	'
	31-Mar-14
		Cost		Fair Value		Unrealized
						Gain (Loss)
	Available for sale:
	Fixed income mutual funds	$	9,577,420	$	9,742,243	$	164,823
	Equity and other mutual funds		615,157		742,457		127,300
		$	10,192,577	$	10,484,700	$	292,123
	31-Dec-13
		Cost		Fair Value		Unrealized
						Gain (Loss)
	Available for sale:
	Corporate bonds (matures within 1 year)	$	203,920	$	200,053	$	(3,867	)
	Fixed income mutual funds		7,325,930		7,425,687		99,757
	Equity and other mutual funds		1,131,147		1,237,465		106,318
		$	8,660,997	$	8,863,205	$	202,208

Note_6_Inventories_Tables

Note 6 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2014
Inventory Disclosure [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
		March 31,		December 31,
		2014		2013
	Inventories consist of the following:
	Raw materials and work in process	$	530,421	$	488,757
	Finished products		1,133,232		1,121,990
		$	1,663,653	$	1,610,747

Note_9_Comprehensive_Income_Ta

Note 9 - Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	'
	Changes in Accumulated Other Comprehensive Income	31-Mar-14			31-Mar-13
	Beginning balance	$	132,123		$	178,979
	Unrealized gain on marketable securities before reclassifications - net of tax		76,216			16,228
	Realized (loss)/gain on sale of securities reclassified from accumulated other comprehensive income		(17,582	)		452
	Ending balance - net of tax	$	190,757		$	195,659

Note_13_Other_Information_Tabl

Note 13 - Other Information (Tables)	3 Months Ended
	Mar. 31, 2014
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]	'
Schedule of Accrued Liabilities [Table Text Block]	'
		31-Mar-14		31-Dec-13
	Bonuses	$	375,000	$	250,000
	Distribution fees		203,384		196,558
	Payroll and related expenses		113,304		104,394
	Annual report expenses		44,577		66,000
	Audit fee		40,019		73,269
	Employer 401K contribution		43,750		---
	Other		40,806		37,794
	Total Accrued Expenses	$	860,840	$	728,015

Note_5_Investments_Details

Note 5 - Investments (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Investments, Debt and Equity Securities [Abstract]	'	'
Proceeds from Sale and Maturity of Marketable Securities	$459,723	$26,629
Marketable Securities, Realized Gain (Loss)	($17,582)	$452

Note_5_Investments_Details_Ava

Note 5 - Investments (Details) - Available-for-Sale Securities (USD $)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Available for sale:	'	'
Cost	$10,192,577	$8,660,997
Fair Value	10,484,700	8,863,205
Unrealized Gain/(Loss)	292,123	202,208
Fixed Income Mutual Funds [Member]	'	'
Available for sale:	'	'
Cost	9,577,420	7,325,930
Fair Value	9,742,243	7,425,687
Unrealized Gain/(Loss)	164,823	99,757
Equity And Other Mutual Funds [Member]	'	'
Available for sale:	'	'
Cost	615,157	1,131,147
Fair Value	742,457	1,237,465
Unrealized Gain/(Loss)	127,300	106,318
Corporate Debt Securities [Member]	'	'
Available for sale:	'	'
Cost	'	203,920
Fair Value	'	200,053
Unrealized Gain/(Loss)	'	($3,867)

Note_6_Inventories_Details

Note 6 - Inventories (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]	'	'
Inventory Valuation Reserves	$20,000	$20,000

Note_6_Inventories_Details_Inv

Note 6 - Inventories (Details) - Inventories (USD $)	Mar. 31, 2014	Dec. 31, 2013
Inventories [Abstract]	'	'
Raw materials and work in process	$530,421	$488,757
Finished products	1,133,232	1,121,990
	$1,663,653	$1,610,747

Note_7_Supplemental_Financial_1

Note 7 - Supplemental Financial Statement Information (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Supplemental Cash Flow Elements [Abstract]	'	'
Income Taxes Paid	$159,589	$5,474
Interest Paid	0	0
Research and Development Expense	146,968	148,300
Payments of Dividends	$0	$0

Note_9_Comprehensive_Income_De

Note 9 - Comprehensive Income (Details) - Change in Accumulated Other Comprehensive Income (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Change in Accumulated Other Comprehensive Income [Abstract]	'	'
Balance	$132,123	$178,979
Unrealized gain on marketable securities before reclassifications - net of tax	76,216	16,228
Realized (loss)/gain on sale of securities reclassified from accumulated other comprehensive income	-17,582	452
Balance	$190,757	$195,659

Note_10_Income_from_Damage_Set1

Note 10 - Income from Damage Settlement (Details) (USD $)	3 Months Ended					3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Jan. 31, 2013	Jan. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Jan. 31, 2013	Dec. 31, 2012
				Ramp-up Payment 1 [Member]	Ramp-up Payment 3 [Member]	Damage Settlement [Member]	Damage Settlement [Member]	Damage Settlement [Member]	Damage Settlement [Member]
				Damage Settlement [Member]	Damage Settlement [Member]
Note 10 - Income from Damage Settlement (Details) [Line Items]	'	'	'	'	'	'	'	'	'
Other Receivables, Net, Current	'	'	$48,805	$48,805	$24,402	'	'	$97,610	$518,050
Other Nonoperating Income	$24,402	$292,830	'	'	'	$24,402	$292,830	'	'

Note_11_Defined_Contribution_P1

Note 11 - Defined Contribution Plan (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Compensation and Retirement Disclosure [Abstract]	'	'
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	4.00%	'
Defined Contribution Plan, Vesting Period	'1 year	'
Defined Contribution Plan, Employer Discretionary Contribution Amount Per Year, Authorized	$175,000	'
Defined Contribution Plan, Cost Recognized	$43,750	$43,750

Note_12_Related_Party_Transact1

Note 12 - Related Party Transactions (Details) (Director [Member], USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Director [Member]	'	'
Note 12 - Related Party Transactions (Details) [Line Items]	'	'
Related Party Transaction, Expenses from Transactions with Related Party	$0	$2,000

Note_13_Other_Information_Deta

Note 13 - Other Information (Details) - Accrued Expenses (USD $)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Note 13 - Other Information (Details) - Accrued Expenses [Line Items]	'	'
Bonuses	$375,000	$250,000
Distribution fees	203,384	196,558
Payroll and related expenses	113,304	104,394
Employer 401K contribution	43,750	0
Other	40,806	37,794
Total Accrued Expenses	860,840	728,015
Annual Report [Member]	'	'
Note 13 - Other Information (Details) - Accrued Expenses [Line Items]	'	'
Accrued Professional Fees	44,577	66,000
Audit Fee [Member]	'	'
Note 13 - Other Information (Details) - Accrued Expenses [Line Items]	'	'
Accrued Professional Fees	$40,019	$73,269