Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Aug. 01, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | UNITED GUARDIAN INC | |
Entity Central Index Key | 101,295 | |
Trading Symbol | ug | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 4,594,319 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Statements of Income (Unaudited
Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Sales: | ||||
Gross sales | $ 3,891,656 | $ 2,215,952 | $ 6,764,379 | $ 4,546,529 |
Sales rebates and allowances | (116,905) | (76,787) | (203,240) | (144,788) |
Net Sales | 3,774,751 | 2,139,165 | 6,561,139 | 4,401,741 |
Costs and expenses: | ||||
Cost of sales | 1,667,113 | 1,007,666 | 2,931,209 | 1,905,391 |
Operating expenses | 418,605 | 465,329 | 882,085 | 932,885 |
Research and development | 158,275 | 157,895 | 348,004 | 335,461 |
Total costs and expenses | 2,243,993 | 1,630,890 | 4,161,298 | 3,173,737 |
Income from operations | 1,530,758 | 508,275 | 2,399,841 | 1,228,004 |
Investment income | 72,796 | 82,906 | 125,668 | 126,218 |
Income before provision for income taxes | 1,603,554 | 591,181 | 2,525,509 | 1,354,222 |
Provision for income taxes | 499,405 | 185,800 | 786,925 | 423,750 |
Net Income | $ 1,104,149 | $ 405,381 | $ 1,738,584 | $ 930,472 |
Earnings per common share (Basic and Diluted) (in dollars per share) | $ 0.24 | $ 0.09 | $ 0.38 | $ 0.20 |
Weighted average shares – basic and diluted (in shares) | 4,594,319 | 4,594,319 | 4,594,319 | 4,594,319 |
Statements of Comprehensive Inc
Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Net income | $ 1,104,149 | $ 405,381 | $ 1,738,584 | $ 930,472 |
Other comprehensive income: | ||||
Unrealized gain on marketable securities | 96,459 | 123,417 | 228,130 | 274,485 |
Income tax expense related to other comprehensive income | (32,797) | (41,961) | (77,565) | (93,324) |
Total other comprehensive income, net of tax | 63,662 | 81,456 | 150,565 | 181,161 |
Total Comprehensive income | $ 1,167,811 | $ 486,837 | $ 1,889,149 | $ 1,111,633 |
Balance Sheets (Current Period
Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 705,076 | $ 424,301 |
Marketable securities | 10,271,950 | 10,218,009 |
Accounts receivable, net of allowance for doubtful accounts of $16,943 at June 30, 2017 and December 31, 2016 | 2,187,780 | 1,597,997 |
Inventories (net) | 765,947 | 1,255,813 |
Prepaid expenses and other current assets | 197,136 | 135,320 |
Prepaid income taxes | 82,732 | |
Total current assets | 14,127,889 | 13,714,172 |
Net property, plant and equipment: | ||
Land | 69,000 | 69,000 |
Factory equipment and fixtures | 4,344,234 | 4,342,629 |
Building and improvements | 2,776,602 | 2,776,602 |
Total property, plant and equipment | 7,189,836 | 7,188,231 |
Less: Accumulated depreciation | 6,189,925 | 6,097,640 |
Total property, plant and equipment, net | 999,911 | 1,090,591 |
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent | 2,382 | |
Other assets (net) | 51,883 | 59,295 |
TOTAL ASSETS | 15,179,683 | 14,866,440 |
Current liabilities: | ||
Accounts payable | 85,470 | 82,821 |
Accrued expenses | 1,015,464 | 848,328 |
Income taxes payable | 104,193 | |
Dividends payable | 119,350 | 114,802 |
Total current liabilities | 1,324,477 | 1,045,951 |
Deferred income taxes (net) | 75,182 | |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Common stock $.10 par value, 10,000,000 shares authorized; 4,594,319 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively | 459,432 | 459,432 |
Accumulated other comprehensive income | 326,199 | 175,634 |
Retained earnings | 12,994,393 | 13,185,423 |
Total stockholders’ equity | 13,780,024 | 13,820,489 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 15,179,683 | $ 14,866,440 |
Balance Sheets (Current Period5
Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts receivable, allowance for doubtful accounts | $ 16,943 | $ 16,943 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares issued (in shares) | 4,594,319 | 4,594,319 |
Common stock, shares outstanding (in shares) | 4,594,319 | 4,594,319 |
Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Cash flows from operating activities: | ||
Net income | $ 1,738,584 | $ 930,472 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 99,697 | 91,192 |
Realized (gain) loss on sale of investments | (4,106) | 3,268 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities: | ||
Accounts receivable | (589,783) | (391,911) |
Inventories | 489,866 | (355,811) |
Prepaid expenses and other current assets | (61,816) | (25,055) |
Prepaid income taxes | 82,732 | 23,450 |
Accounts payable | 2,649 | (1,120) |
Accrued expenses | 167,136 | 249,894 |
Income taxes payable | 104,193 | |
Net cash provided by operating activities | 2,029,152 | 524,379 |
Cash flows from investing activities: | ||
Acquisition of property, plant and equipment | (1,605) | (116,694) |
Proceeds from sale of marketable securities | 321,114 | 1,058,155 |
Purchase of marketable securities | (142,820) | (689,501) |
Net cash provided by investing activities | 176,689 | 251,960 |
Cash flows from financing activities: | ||
Dividends paid | (1,925,066) | (1,603,871) |
Net cash used in financing activities | (1,925,066) | (1,603,871) |
Net increase (decrease) in cash and cash equivalents | 280,775 | (827,532) |
Cash and cash equivalents at beginning of period | 424,301 | 1,080,489 |
Cash and cash equivalents at end of period | 705,076 | 252,957 |
Supplemental disclosure of cash flow information | ||
Taxes paid | 600,000 | 400,300 |
Supplemental disclosure of non-cash dividends payable | $ 4,952 | $ 4,141 |
Note 1 - Nature of Business
Note 1 - Nature of Business | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [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 | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
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 for interim financial information, pursuant to the requirements for reporting on Form 10 three six June 30, 2017 ( 2017" 2017", not may December 31, 2017. 10 December 31, 2016. |
Note 3 - Use of Estimates
Note 3 - Use of Estimates | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Use of Estimates Disclosure [Text Block] | 3. Use of Estimates In preparing financial statements in conformity with U.S. generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting period. Actual results could differ from those estimates. Such estimated items include the allowance for bad debts, possible impairment of marketable securities, and the allocation of overhead. |
Note 4 - Marketable Securities
Note 4 - Marketable Securities | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. Marketable Securities 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 · Level 1 · Level 2 · Level 3 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 June 30, 2017 (Unaudited) Cost Fair Value Unrealized Available for sale: Fixed income mutual funds $ 9,165,327 $ 9,458,451 $ 293,124 Equity and other mutual funds 612,382 813,499 201,117 Total Investments $ 9,777,709 $ 10,271,950 $ 494,241 December 31, 2016 (Audited) Available for Sale: Fixed income mutual funds $ 9,339,352 $ 9,457,286 $ 117,934 Equity and other mutual funds 612,545 760,723 148,178 Total Investments $ 9,951,897 $ 10,218,009 $ 266,112 Proceeds from the sale and redemption of marketable securities amounted to $321,114 first 2017, $4,106. $1,058,155 first 2016, $3,268. Investment income consists principally of realized gains and losses, interest income from fixed income mutual funds and dividend income from equity and other mutual funds. Marketable securities include investments in fixed income and equity mutual funds and government securities 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 5 - Inventories
Note 5 - Inventories | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5. Inventories Six Months Ended Year Ended (Unaudited) (Audited) Inventories consist of the following: Raw materials $ 351,981 $ 349,383 Work in process 31,161 24,214 Finished products 382,805 882,216 TOTAL: $ 765,947 $ 1,255,813 Inventories are valued at the lower of cost or current net realizable value. Cost is determined using the average cost method, which approximates cost determined by the first first June 30, 2017 December 31, 2016 $ 20,000 |
Note 6 - Income Taxes
Note 6 - Income Taxes | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 6. Income Taxes The Company’s tax provision is based on its estimated annual effective 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 not June 30, 2017 December 31, 2016, not |
Note 7 - Comprehensive Income
Note 7 - Comprehensive Income | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 7. Comprehensive Income Accumulated other comprehensive income comprises unrealized gains and losses on marketable securities net of the related tax effect. Changes in Accumulated Other Six Months Ended Year Ended (Unaudited) (Audited) Beginning balance $ 175,634 $ 72,361 Unrealized gain on marketable securities before reclassifications - net of tax 146,459 104,284 Realized gain (loss) on sale of securities reclassified from accumulated other comprehensive income – net of tax 4,106 (1,011 ) Ending balance - net of tax $ 326,199 $ 175,634 |
Note 8 - Defined Contribution P
Note 8 - Defined Contribution Plan | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 8. Defined Contribution Plan The Company sponsors a 401 first 4% one $175,000 $43,750 401 three six June 30, 2017 2016, 43,750 $ 87,500 first 2017 2016, not |
Note 9 - Related-party Transact
Note 9 - Related-party Transactions | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 9. Related-Party Transactions During the first 2017 2016, $8,000 $10,000, |
Note 10 - Other Information
Note 10 - Other Information | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Other Liabilities Disclosure [Text Block] | 10. Other Information Accrued Expenses June 30, December 31, (Unaudited) (Audited) Bonuses $ 286,390 $ 200,000 Distribution fees 221,941 225,879 Payroll and related expenses 170,348 151,653 Reserve for outdated material 120,123 101,177 Company 401 (k) contribution 87,500 --- Annual report expenses 35,754 63,447 Audit fee 29,068 54,868 Insurance 24,574 9,381 Sales rebates 9,600 23,393 Other 30,166 18,530 Total Accrued Expenses $ 1,015,464 $ 848,328 |
Note 11 - Recent Accounting Pro
Note 11 - Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 11. Recent Accounting Pronouncements In May 2014, 2014 09, August 2015, 2015 14, December 15, 2017. In accordance with the Company’s implementation of ASU 2015 17 one $252,135 December 31, 2016 $254,517 December 31, 2016, $2,382 December 31, 2016. no In July 2015, 2015 11, first 2017, not In February 2016, 2016 02, 12 first 2019. not In June 2016, 2016 13 not December 15, 2019. |
Note 12 - Concentrations of Cre
Note 12 - Concentrations of Credit Risk | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 12. Concentrations of Credit Risk Cash and cash equivalents - For financial statement purposes, the Company considers as cash equivalents all highly liquid investments with an original maturity of three $250,000. June 30, 2017, $609,000 Customer concentration - Accounts receivable potentially exposes the Company to concentrations of credit risk. The Company monitors the amount of credit it allows each of its customers, using the customer’s prior payment history to determine how much credit to allow or whether any credit should be given at all. It is the Company’s policy to discontinue shipments to any customer that is substantially past due on its payments. The Company sometimes requires payment in advance from customers whose payment record is questionable. As a result of its monitoring of the outstanding credit allowed for each customer, as well as the fact that the majority of the Company’s sales are to customers whose satisfactory credit and payment record has been established over a long period of time, the Company believes that its credit risk from accounts receivable is low. One one 55% 59% June 30, 2017. 42% 45% June 30, 2016. |
Note 13 - Earnings Per Share
Note 13 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 13. Earnings Per Share Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Per share basic and diluted earnings amounted to $ 0.24 $.09 three June 30, 2017 2016, $0.38 $0.20 six June 30, 2017 2016, |
Note 4 - Marketable Securities
Note 4 - Marketable Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | June 30, 2017 (Unaudited) Cost Fair Value Unrealized Available for sale: Fixed income mutual funds $ 9,165,327 $ 9,458,451 $ 293,124 Equity and other mutual funds 612,382 813,499 201,117 Total Investments $ 9,777,709 $ 10,271,950 $ 494,241 December 31, 2016 (Audited) Available for Sale: Fixed income mutual funds $ 9,339,352 $ 9,457,286 $ 117,934 Equity and other mutual funds 612,545 760,723 148,178 Total Investments $ 9,951,897 $ 10,218,009 $ 266,112 |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | Six Months Ended Year Ended (Unaudited) (Audited) Inventories consist of the following: Raw materials $ 351,981 $ 349,383 Work in process 31,161 24,214 Finished products 382,805 882,216 TOTAL: $ 765,947 $ 1,255,813 |
Note 7 - Comprehensive Income (
Note 7 - Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Changes in Accumulated Other Six Months Ended Year Ended (Unaudited) (Audited) Beginning balance $ 175,634 $ 72,361 Unrealized gain on marketable securities before reclassifications - net of tax 146,459 104,284 Realized gain (loss) on sale of securities reclassified from accumulated other comprehensive income – net of tax 4,106 (1,011 ) Ending balance - net of tax $ 326,199 $ 175,634 |
Note 10 - Other Information (Ta
Note 10 - Other Information (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, December 31, (Unaudited) (Audited) Bonuses $ 286,390 $ 200,000 Distribution fees 221,941 225,879 Payroll and related expenses 170,348 151,653 Reserve for outdated material 120,123 101,177 Company 401 (k) contribution 87,500 --- Annual report expenses 35,754 63,447 Audit fee 29,068 54,868 Insurance 24,574 9,381 Sales rebates 9,600 23,393 Other 30,166 18,530 Total Accrued Expenses $ 1,015,464 $ 848,328 |
Note 4 - Marketable Securitie24
Note 4 - Marketable Securities (Details Textual) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Marketable Securities, Realized Gain (Loss) | $ 4,106 | $ (3,268) |
Proceeds from Sale and Maturity of Marketable Securities | $ 321,114 | $ 1,058,155 |
Note 4 - Marketable Securitie25
Note 4 - Marketable Securities - Available-for-sale Securities (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Unrealized gain (loss) | $ 494,241 | $ 266,112 |
Cost | 9,777,709 | 9,951,897 |
Marketable securities | 10,271,950 | 10,218,009 |
Fixed Income Securities [Member] | ||
Unrealized gain (loss) | 293,124 | 117,934 |
Cost | 9,165,327 | 9,339,352 |
Marketable securities | 9,458,451 | 9,457,286 |
Equity And Other Mutual Funds [Member] | ||
Unrealized gain (loss) | 201,117 | 148,178 |
Cost | 612,382 | 612,545 |
Marketable securities | $ 813,499 | $ 760,723 |
Note 5 - Inventories (Details T
Note 5 - Inventories (Details Textual) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Inventory Valuation Reserves | $ 20,000 | $ 20,000 |
Note 5 - Inventories - Summary
Note 5 - Inventories - Summary of Inventories (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Raw materials | $ 351,981 | $ 349,383 |
Work in process | 31,161 | 24,214 |
Finished products | 382,805 | 882,216 |
TOTAL: | $ 765,947 | $ 1,255,813 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Unrecognized Tax Benefits | $ 0 | $ 0 |
Note 7 - Comprehensive Income -
Note 7 - Comprehensive Income - Accumulated Other Comprehensive Income (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Beginning balance | $ 13,820,489 | |
Ending balance - net of tax | 13,780,024 | $ 13,820,489 |
AOCI Attributable to Parent [Member] | ||
Beginning balance | 175,634 | 72,361 |
Unrealized gain on marketable securities before reclassifications - net of tax | 146,459 | 104,284 |
Realized gain (loss) on sale of securities reclassified from accumulated other comprehensive income – net of tax | 4,106 | (1,011) |
Ending balance - net of tax | $ 326,199 | $ 175,634 |
Note 8 - Defined Contribution30
Note 8 - Defined Contribution Plan (Details Textual) - DC Plan [Member] - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.00% | |||
Defined Contribution, Discretionary Contribution Plan, Vesting Period | 1 year | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount Per Year Authorized | $ 175,000 | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 0 | $ 0 | ||
Defined Contribution Plan, Cost | $ 43,750 | $ 87,500 | 43,750 | $ 87,500 |
Defined Contribution Plan, Employer Discretionary Contribution Amount Per Quarter Authorized | $ 43,750 |
Note 9 - Related-party Transa31
Note 9 - Related-party Transactions (Details Textual) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Accounting and Tax Services [Member] | Director [Member] | ||
Related Party Transaction, Expenses from Transactions with Related Party | $ 8,000 | $ 10,000 |
Note 10 - Other Information - A
Note 10 - Other Information - Accrued Expenses (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Bonuses | $ 286,390 | $ 200,000 |
Distribution fees | 221,941 | 225,879 |
Payroll and related expenses | 170,348 | 151,653 |
Reserve for outdated material | 120,123 | 101,177 |
Company 401 (k) contribution | 87,500 | |
Insurance | 24,574 | 9,381 |
Sales rebates | 9,600 | 23,393 |
Other | 30,166 | 18,530 |
Total Accrued Expenses | 1,015,464 | 848,328 |
Accrued Annual Report [Member] | ||
Accrued Professional Fees | 35,754 | 63,447 |
Accrued Audit Fee [Member] | ||
Accrued Professional Fees | $ 29,068 | $ 54,868 |
Note 11 - Recent Accounting P33
Note 11 - Recent Accounting Pronouncements (Details Textual) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Deferred Tax Liabilities, Net, Noncurrent | $ 75,182 | |
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent | 2,382 | |
Scenario, Previously Reported [Member] | ||
Deferred Tax Liabilities, Net, Noncurrent | 252,135 | |
Deferred Tax Assets, Net of Valuation Allowance, Current | 254,517 | |
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent | $ 2,382 |
Note 12 - Concentrations of C34
Note 12 - Concentrations of Credit Risk (Details Textual) | 6 Months Ended | |
Jun. 30, 2017USD ($) | Jun. 30, 2016 | |
Cash, FDIC Insured Amount | $ 250,000 | |
Cash, Uninsured Amount | $ 609,000 | |
Distributor [Member] | ||
Number of Customers | 1 | 1 |
Marketing Partner [Member] | ||
Number of Customers | 1 | 1 |
Distributors and Marketing Partners [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||
Concentration Risk, Percentage | 55.00% | 42.00% |
Distributors and Marketing Partners [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||
Concentration Risk, Percentage | 59.00% | 45.00% |
Note 13 - Earnings Per Share (D
Note 13 - Earnings Per Share (Details Textual) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings Per Share, Basic and Diluted | $ 0.24 | $ 0.09 | $ 0.38 | $ 0.20 |