United-Guardian (UG) 10-K 22 Mar 18 2017 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2017	Mar. 01, 2018	Jun. 30, 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
Entity Public Float			$ 49,130,907
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Amendment Flag	false

Statements of Income

Statements of Income - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Sales
Gross Sales	$ 13,434,460	$ 11,144,462
Sales allowances and returns	(466,255)	(367,595)
Net sales	12,968,205	10,776,867
Costs and expenses:
Cost of sales	5,301,352	4,882,644
Operating expenses	1,785,160	1,852,833
Research and development	646,079	651,828
Total costs and expenses	7,732,591	7,387,305
Income from operations	5,235,614	3,389,562
Investment income	315,165	306,505
Income before provision for income taxes	5,550,779	3,696,067
Provision for income taxes	1,706,489	1,114,925
Net income	$ 3,844,290	$ 2,581,142
Earnings per common share (basic and diluted) (in dollars per share)	$ 0.84	$ 0.56
Weighted average shares (basic and diluted) (in shares)	4,594,319	4,594,319

Statements of Comprehensive Inc

Statements of Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Net income	$ 3,844,290	$ 2,581,142
Other comprehensive income:
Unrealized gain on marketable securities	323,793	156,474
Income tax expense related to other comprehensive income	(67,997)	(53,201)
Total other comprehensive income, net of tax	255,796	103,273
Total comprehensive income	$ 4,100,086	$ 2,684,415

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 724,721	$ 424,301
Marketable securities	7,721,568	10,218,009
Accounts receivable, net of allowance for doubtful accounts of $21,220 in 2017 and $16,943 in 2016	1,905,415	1,597,997
Inventories (net)	1,340,523	1,255,813
Prepaid expenses and other current assets	157,964	135,320
Prepaid income taxes	331	82,732
Total current assets	11,850,522	13,714,172
Property, plant, and equipment:
Land	69,000	69,000
Factory equipment and fixtures	4,363,978	4,342,629
Building and improvements	2,793,402	2,776,602
Total property, plant and equipment	7,226,380	7,188,231
Less accumulated depreciation	6,283,493	6,097,640
Total property, plant, and equipment (net)	942,887	1,090,591
Deferred income taxes (net)		2,382
Other assets (net)	59,471	59,295
TOTAL ASSETS	12,852,880	14,866,440
Current liabilities:
Accounts payable	354,285	82,821
Accrued expenses	881,327	848,328
Income taxes payable	55,848
Dividends payable	130,923	114,802
Total current liabilities	1,422,383	1,045,951
Deferred income taxes (net)	33,855
Commitments and contingencies
Stockholders’ equity:
Common stock, $.10 par value; 10,000,000 shares authorized; 4,594,319 shares issued and outstanding at December 31, 2017 and 2016, respectively	459,432	459,432
Accumulated other comprehensive income	466,025	175,634
Retained earnings	10,471,185	13,185,423
Total stockholders’ equity	11,396,642	13,820,489
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	$ 12,852,880	$ 14,866,440

Balance Sheets (Parentheticals)

Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Accounts receivable, allowance for doubtful accounts	$ 21,220	$ 16,943
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	4,594,319	4,594,319
Common stock, shares outstanding (in shares)	4,594,319	4,594,319

Statement of Stockholders' Equi

Statement of Stockholders' Equity - USD ($)	Dividend Declared [Member]Retained Earnings [Member]	Dividend Declared [Member]	Dividend Paid [Member]Retained Earnings [Member]	Dividend Paid [Member]	Common Stock [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2015					4,594,319
Balance at Dec. 31, 2015					$ 459,432	$ 72,361	$ 14,050,021	$ 14,581,814
Change in unrealized gains on marketable securities, net						103,273		103,273
Net income							2,581,142	2,581,142
Dividends	$ (8,873)	$ (8,873)	$ (3,436,867)	$ (3,436,867)				(3,445,740)
Balance (in shares) at Dec. 31, 2016					4,594,319
Balance at Dec. 31, 2016					$ 459,432	175,634	13,185,423	13,820,489
Change in unrealized gains on marketable securities, net						255,796		255,796
Net income							3,844,290	3,844,290
Dividends	$ (16,684)	$ (16,684)	$ (6,507,249)	$ (6,507,249)				(6,523,933)
Reclassification of tax effect from accumulated other comprehensive income due to federal tax rate change						34,595	(34,595)
Balance (in shares) at Dec. 31, 2017					4,594,319
Balance at Dec. 31, 2017					$ 459,432	$ 466,025	$ 10,471,185	$ 11,396,642

Statement of Stockholders' Equ7

Statement of Stockholders' Equity (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
AOCI Attributable to Parent [Member]
Change in unrealized gains on marketable securities, deferred income tax benefit	$ 67,997	$ 53,201
Change in unrealized gains on marketable securities, deferred income tax benefit	$ 67,997	$ 53,201

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income	$ 3,844,290	$ 2,581,142
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	200,677	187,035
Realized (gain) loss on sales of marketable securities	(33,297)	1,011
Bad debt expense	4,277	8,289
Deferred income taxes	(31,760)	59,712
(Decrease) increase in cash resulting from changes in operating assets and liabilities:
Accounts receivable	(311,695)	(671,532)
Inventories	(84,710)	37,829
Prepaid expenses and other current and non-current assets	(37,644)	25,213
Prepaid income taxes	82,401	13,035
Accounts payable	271,464	(13,995)
Income taxes payable	55,848
Accrued expenses	32,999	62,705
Dividends payable	(563)
Net cash provided by operating activities	3,992,287	2,290,444
Cash flows from investing activities:
Acquisitions of property, plant and equipment	(38,149)	(166,689)
Purchases of marketable securities	(1,922,513)	(2,309,935)
Proceeds from sales of marketable securities	4,776,044	2,966,859
Net cash provided by investing activities	2,815,382	490,235
Cash flows from financing activities:
Dividends paid	(6,507,249)	(3,436,867)
Net cash used in financing activities	(6,507,249)	(3,436,867)
Net increase(decrease) in cash and cash equivalents	300,420	(656,188)
Cash and cash equivalents, beginning of year	424,301	1,080,489
Cash and cash equivalents, end of year	$ 724,721	$ 424,301

Note A - Nature of Business and

Note A - Nature of Business and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	NOTE A - NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Business United-Guardian, Inc. (the "Company") is a Delaware corporation that, through its Guardian Laboratories Division, manufactures and markets cosmetic ingredients, personal care products, pharmaceuticals, medical lubricants, health care products, and specialty industrial products. It also conducts research and product development, primarily related to the development of new and unique cosmetic and personal care products. The Company’s research and development department also modifies, refines, and expands the uses for existing products, with the goal of further developing the market for the Company's products. Two major product lines, LUBRAJEL ® ® 94% 90% December 31, 2017 December 31, 2016, 69% 64% December 31, 2017 December 31, 2016, 25% 26% December 31, 2017 December 31, 2016, Use of Estimates In preparing financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), 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 revenue 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 to inventory. Accounts Receivable and Reserves The carrying amount of accounts receivable is reduced by a valuation allowance that reflects our best estimate of the amounts that will not Revenue Recognition The Company recognizes revenue from sales of its personal care, medical, and industrial products when those products are shipped, as long as a valid purchase order has been received and future collection of the sale amount is reasonably assured. These products are shipped “Ex Works” from the Company’s facility in Hauppauge, NY, and it is at this time that risk of loss and responsibility for the shipment passes to the customer. Sales of these products are deemed final, and there is no The Company’s pharmaceutical products are shipped by common carrier upon receipt of a valid purchase order with, in most cases, the Company paying the shipping costs. The Company assumes responsibility for the shipment arriving at its intended destination. Sales of pharmaceutical products are final and revenue is recognized at the time of shipment. However, any product determined by the customer to be out of specification or expired can be returned to the Company for refund or replacement. The Company does not not third Effective January 1, 2018, 606, not not Any allowance for returns is taken as a reduction of sales within the same period the revenue is recognized. Such allowances are based on historical experience. The Company has not 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. December 31, 2017, $517,000 Dividends On May 17, 2017, $0.42 June 12, 2017 May 30, 2017. November 29, 2017, $0.50 $0.50 $1.00 December 18, 2017, December 11, 2017. 2017 $6,523,933 $6,507,249 $16,684 not On May 18, 2016, $0.35 June 15, 2016 June 1, 2016. November 30, 2016, $0.40 December 19, 2016 December 12, 2016. 2016 $3,445,740 $3,436,867 $8,873 not Reclassification Certain items in the prior financial statements have been reclassified to conform to the current period presentation. Marketable Securities Marketable securities include investments in equity and fixed income mutual funds, and government securities, all of which have a high degree of liquidity, 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 and declines in value judged to be other than temporary, if any, are reported in other income (loss) with cost being determined on a specific identification basis. Fair values are based on quoted market prices. The Company evaluates its investments periodically for possible impairment and reviews factors such as the length of time and extent to which fair value has been below cost basis and the Company’s ability and intent to hold the investment for a period of time which may Inventories Inventories are valued at the lower of cost and net realizable value. Cost is determined using the average cost method, which approximates cost determined by the first first Property, Plant and Equipment Property, plant and equipment are carried at cost, less accumulated depreciation. Major replacements and betterments are capitalized, while routine maintenance and repairs are expensed as incurred. Assets are depreciated under both accelerated and straight-line methods. Depreciation charged as a result of using accelerated methods was not Estimated useful lives are as follows: Factory equipment and fixtures (in years) 5 - 7 Building (in years) 40 Building improvements Lesser of useful life or 20 years Impairment of Long-Lived Assets Long-lived assets and certain identifiable intangibles are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not No December 31, 2017 2016. Other Assets (net) Other assets at December 31, 2017 2016 first 2016. December 31, 2017 2016 $29,648 $14,824, Future amortization expense is as follows: For the Amortization 2018 $ 14,824 2019 14,824 2020 14,823 Total: $ 44,471 Fair Value of Financial Instruments Management of the Company believes that the fair value of financial instruments, consisting of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximates their carrying value due to their short payment terms and liquid nature. Concentration of Credit Risk 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 accounts receivable credit risk has been reduced. For the year ended December 31, 2017, two 55% 58% December 31, 2016, two 46% 36% Vendor Concentration Most of the principal raw materials used by the Company consist of common industrial organic and inorganic chemicals and are available in ample supply from numerous sources. However, there are some raw materials used by the Company that are not six 88% 85% 2017 2016, Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to the temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not Uncertain tax positions are accounted for utilizing a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. As of December 31, 2017 2016, not December 31, 2017 2016 not 2014 2016 Research and Development Research and development expenses are expenditures incurred in connection with in-house research on new and existing products. It includes payroll and payroll related expenses, outside laboratory expenditures, lab supplies, and equipment depreciation. Shipping and Handling Expenses Shipping and handling costs are classified in operating expenses in the accompanying statements of income. Shipping and handling costs were approximately $77,000 $84,000 December 31, 2017 2016, Advertising Expenses Advertising expenses are expensed as incurred. During 2017 2016 $4,000 $25,000, Earnings Per Share Information Basic earnings per share are computed by dividing net income by the weighted average number of common shares outstanding during the year. Diluted earnings per share would include the dilutive effect of outstanding stock options, if any. New Accounting Standards Effective January 1, 2018 606 not not The Company anticipates it will expand its financial statement disclosures in order to comply with the disclosure requirements of the ASU beginning in the first 2018.e 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. In February 2018, 2018 02, 220 2017 December 15, 2018 $34,595

Note B - Marketable Securities

Note B - Marketable Securities	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	NOTE B - 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 at the measurement date. 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 of the Company's marketable securities, are re-measured to fair value on a recurring basis and are valued using Level 1 December 31, 2017 Cost Fair Value Unrealized Gain/(Loss) Available for sale: Fixed income mutual funds $ 6,003,131 $ 6,113,099 $ 109,968 Equity and other mutual funds 1,128,532 1,608,469 479,937 Total marketable securities $ 7,131,663 $ 7,721,568 $ 589,905 December 31, 2016 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 marketable securities $ 9,951,897 $ 10,218,009 $ 266,112 Proceeds from the sale and redemption of marketable securities amounted to $4,776,044 $2,966,859 December 31, 2017 2016, $33,297 $1,011 December 31, 2017 2016, Investment income consisted 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, 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 in stockholder’s equity, net of the related tax effects. Investment income is recognized when earned. Realized gains and losses on the sale of investments are determined on a specific identification basis.

Note C - Inventories

Note C - Inventories	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE C – INVENTORIES Inventories consist of the following: December 31, 2017 2016 Raw materials $ 363,739 $ 349,383 Work in process 39,004 24,214 Finished products 937,780 882,216 Total Inventories $ 1,340,523 $ 1,255,813 Finished product inventories at December 31, 2017 2016 $20,000

Note D - Income Taxes

Note D - Income Taxes	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE D – INCOME TAXES The (benefit from) provision for income taxes consists of the following: Years ended December 31, Current 2017 2016 Federal $ 1,738,132 $ 1,058,714 State 117 (3,501 ) Total current provision for income taxes 1,738,249 1,055,213 Deferred Federal (31,760 ) 59,712 State --- --- Total deferred provision for income taxes (31,760 ) 59,712 Total provision for income taxes $ 1,706,489 $ 1,114,925 The following is a reconciliation of the Company’s effective income tax rate to the Federal statutory rate (dollar amounts have been rounded to the nearest thousand): Years ended December 31, 2017 2016 ($) Tax rate ($) Tax rate Income taxes at statutory federal income tax rate of 34% $ 1,887,000 34.0 % $ 1,257,000 34.0 % State income taxes, net of Federal benefit --- --- (2,000 ) --- Domestic Production Activities tax benefit (160,000 ) (2.9 ) (104,000 ) (2.8 ) Nondeductible expenses 1,000 --- 1,000 --- Research & development credits (34,000 ) (0.6 ) (30,000 ) (0.8 ) Non-taxable dividends (5,000 ) (0.09 ) --- --- Deferred tax asset reduction for federal tax rate change 21,000 0.4 --- --- Other, net (4,000 ) (0.1 ) (7,000 ) (0.2 ) Provision for income taxes $ 1,706,000 30.7 % $ 1,115,000 30.2 % During 2017 2016, 9% The tax effects of temporary differences which comprise the deferred tax assets and liabilities are as follows: Years ended December 31, 2017 2016 Deferred tax assets Accounts receivable $ 4,456 $ 5,760 Inventories 9,104 14,163 Accrued expenses 157,610 234,594 Total deferred tax assets 171,170 254,517 Deferred tax liabilities Depreciation on property, plant and equipment (81,145 ) (161,657 ) Unrealized gain on marketable securities (123,880 ) (90,478 ) Total deferred tax liabilities (205,025 ) (252,135 ) Net deferred tax (liability)/asset $ (33,855 ) $ 2,382

Note E - Benefit Plans

Note E - Benefit Plans	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	NOTE E - BENEFIT PLANS Defined Contribution Plan The Company sponsors a 401 first 4% one 401 $94,000 $87,000 December 31, 2017 2016, The Company also makes discretionary contributions to each employee's account based on a "pay-to-pay" safe-harbor formula that qualifies the 401 December 31, 2017 2016 $175,000 20% two 20% six

Note F - Geographical and Other

Note F - Geographical and Other Information	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE F - GEOGRAPHIC and OTHER INFORMATION The Company manufactures and markets cosmetic ingredients, personal care products, pharmaceuticals, medical lubricants, health care products, and specialty industrial products, through its Guardian Laboratories division. It also conducts research and development, primarily related to the development of new and unique cosmetic and personal care products. The Company’s R&D department not The Company operates in one four one two 90 two December 31, 2019. not not No may may not The pharmaceutical products are two The medical products are not not The industrial products are also marketed by the Company directly to manufacturers, and generally do not may The following tables present the significant concentrations of the Company’s sales. Although a significant percentage of Customer A’s purchases from the Company are sold to foreign customers, in table “b” below all sales to Customer A are included in “United States” sales revenue because all shipments to Customer A are delivered to Customer A's warehouses in the U.S. In addition, there are three 80% 2017, 70% 2016, (a) Net Sales Years ended December 31, 2017 2016 Personal Care $ 6,868,227 $ 4,916,630 Medical 2,424,439 2,624,672 Pharmaceutical 3,987,076 3,443,215 Industrial and other 154,718 159,945 13,434,460 11,144,462 Less: Discounts and allowances (466,255 ) (367,595 ) Net Sales $ 12,968,205 $ 10,776,867 (b) Geographic Information (Gross Sales) Years ended December 31, 2017 2016 United States $ 10,900,284 $ 8,699,491 Other countries 2,534,176 2,444,971 $ 13,434,460 $ 11,144,462 (c) Sales to Major Customers Years ended December 31, 2017 2016 Customer A $ 5,350,392 $ 3,457,682 Customer B 1,750,167 1,628,905 All other customers 6,333,901 6,057,875 $ 13,434,460 $ 11,144,462

Note G - Comprehensive Income

Note G - Comprehensive Income	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	NOTE G – COMPREHENSIVE INCOME Accumulated other comprehensive income comprises unrealized gains and losses on marketable securities net of the related tax effect. Changes in Accumulated Other December 31, 2017 December 31, 2016 Beginning balance - net of tax $ 175,634 $ 72,361 Unrealized gain on marketable securities – net of tax 222,499 104,284 Reclassification of tax effect on unrealized gain on marketable securities due to federal tax rate change 34,595 --- Realized gain (loss) on sale of marketable securities 33,297 (1,011 ) Ending balance - net of tax $ 466,025 $ 175,634

Note H - Accrued Expenses

Note H - Accrued Expenses	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Other Liabilities Disclosure [Text Block]	NOTE H - ACCRUED EXPENSES Accrued expenses at December 31, 2017 2016 2017 2016 Bonuses $ 200,000 $ 200,000 Distribution fees 254,863 225,879 Payroll and related expenses 152,903 151,653 Annual report expenses 62,510 63,447 Audit fee 43,268 54,868 Reserve for outdated material 127,768 101,177 Sales rebates 12,000 23,393 Insurance --- 9,381 Other 28,015 18,530 Total accrued expenses $ 881,327 $ 848,328

Note I - Supplemental Disclosur

Note I - Supplemental Disclosures of Cash Flow Information and Non-cash Investing and Financing Activities	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	NOTE I – SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION AND NON-CASH INVESTING AND FINANCING ACTIVITIES Cash payments for income taxes were $1,600,000 $1,050,000 December 31, 2017 2016, The Company has a number of unconverted shares of one 11,732 1990’s, not September 2015 $120,848. $21,894 $98,954 one October 2015. $16,684 $8,873, 2017 2016

Note J - Related Party Transact

Note J - Related Party Transactions	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE J - RELATED PARTY TRANSACTIONS During each of the years ended December 31, 2017 2016 $18,000 $21,500,

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Use of Estimates In preparing financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), 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 revenue 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 to inventory.
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	Accounts Receivable and Reserves The carrying amount of accounts receivable is reduced by a valuation allowance that reflects our best estimate of the amounts that will not
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company recognizes revenue from sales of its personal care, medical, and industrial products when those products are shipped, as long as a valid purchase order has been received and future collection of the sale amount is reasonably assured. These products are shipped “Ex Works” from the Company’s facility in Hauppauge, NY, and it is at this time that risk of loss and responsibility for the shipment passes to the customer. Sales of these products are deemed final, and there is no The Company’s pharmaceutical products are shipped by common carrier upon receipt of a valid purchase order with, in most cases, the Company paying the shipping costs. The Company assumes responsibility for the shipment arriving at its intended destination. Sales of pharmaceutical products are final and revenue is recognized at the time of shipment. However, any product determined by the customer to be out of specification or expired can be returned to the Company for refund or replacement. The Company does not not third Effective January 1, 2018, 606, not not Any allowance for returns is taken as a reduction of sales within the same period the revenue is recognized. Such allowances are based on historical experience. The Company has not
Cash and Cash Equivalents, Policy [Policy Text Block]	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. December 31, 2017, $517,000
Stockholders' Equity, Policy [Policy Text Block]	Dividends On May 17, 2017, $0.42 June 12, 2017 May 30, 2017. November 29, 2017, $0.50 $0.50 $1.00 December 18, 2017, December 11, 2017. 2017 $6,523,933 $6,507,249 $16,684 not On May 18, 2016, $0.35 June 15, 2016 June 1, 2016. November 30, 2016, $0.40 December 19, 2016 December 12, 2016. 2016 $3,445,740 $3,436,867 $8,873 not
Reclassification, Policy [Policy Text Block]	Reclassification Certain items in the prior financial statements have been reclassified to conform to the current period presentation.
Marketable Securities, Policy [Policy Text Block]	Marketable Securities Marketable securities include investments in equity and fixed income mutual funds, and government securities, all of which have a high degree of liquidity, 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 and declines in value judged to be other than temporary, if any, are reported in other income (loss) with cost being determined on a specific identification basis. Fair values are based on quoted market prices. The Company evaluates its investments periodically for possible impairment and reviews factors such as the length of time and extent to which fair value has been below cost basis and the Company’s ability and intent to hold the investment for a period of time which may
Inventory, Policy [Policy Text Block]	Inventories Inventories are valued at the lower of cost and net realizable value. Cost is determined using the average cost method, which approximates cost determined by the first first
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment Property, plant and equipment are carried at cost, less accumulated depreciation. Major replacements and betterments are capitalized, while routine maintenance and repairs are expensed as incurred. Assets are depreciated under both accelerated and straight-line methods. Depreciation charged as a result of using accelerated methods was not Estimated useful lives are as follows: Factory equipment and fixtures (in years) 5 - 7 Building (in years) 40 Building improvements Lesser of useful life or 20 years
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets Long-lived assets and certain identifiable intangibles are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not No December 31, 2017 2016.
Other Assets [Policy Text Block]	Other Assets (net) Other assets at December 31, 2017 2016 first 2016. December 31, 2017 2016 $29,648 $14,824, Future amortization expense is as follows: For the Amortization 2018 $ 14,824 2019 14,824 2020 14,823 Total: $ 44,471
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments Management of the Company believes that the fair value of financial instruments, consisting of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximates their carrying value due to their short payment terms and liquid nature.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk 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 accounts receivable credit risk has been reduced. For the year ended December 31, 2017, two 55% 58% December 31, 2016, two 46% 36%
Vendor Concentration [Policy Text Block]	Vendor Concentration Most of the principal raw materials used by the Company consist of common industrial organic and inorganic chemicals and are available in ample supply from numerous sources. However, there are some raw materials used by the Company that are not six 88% 85% 2017 2016,
Income Tax, Policy [Policy Text Block]	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to the temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not Uncertain tax positions are accounted for utilizing a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. As of December 31, 2017 2016, not December 31, 2017 2016 not 2014 2016
Research, Development, and Computer Software, Policy [Policy Text Block]	Research and Development Research and development expenses are expenditures incurred in connection with in-house research on new and existing products. It includes payroll and payroll related expenses, outside laboratory expenditures, lab supplies, and equipment depreciation.
Shipping and Handling Cost, Policy [Policy Text Block]	Shipping and Handling Expenses Shipping and handling costs are classified in operating expenses in the accompanying statements of income. Shipping and handling costs were approximately $77,000 $84,000 December 31, 2017 2016,
Advertising Costs, Policy [Policy Text Block]	Advertising Expenses Advertising expenses are expensed as incurred. During 2017 2016 $4,000 $25,000,
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share Information Basic earnings per share are computed by dividing net income by the weighted average number of common shares outstanding during the year. Diluted earnings per share would include the dilutive effect of outstanding stock options, if any.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Standards Effective January 1, 2018 606 not not The Company anticipates it will expand its financial statement disclosures in order to comply with the disclosure requirements of the ASU beginning in the first 2018.e 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. In February 2018, 2018 02, 220 2017 December 15, 2018 $34,595

Note A - Nature of Business a20

Note A - Nature of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Proerty Plant and Equipment, Useful Lives [Table Text Block]	Factory equipment and fixtures (in years) 5 - 7 Building (in years) 40 Building improvements Lesser of useful life or 20 years
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	For the Amortization 2018 $ 14,824 2019 14,824 2020 14,823 Total: $ 44,471

Note B - Marketable Securities

Note B - Marketable Securities (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	December 31, 2017 Cost Fair Value Unrealized Gain/(Loss) Available for sale: Fixed income mutual funds $ 6,003,131 $ 6,113,099 $ 109,968 Equity and other mutual funds 1,128,532 1,608,469 479,937 Total marketable securities $ 7,131,663 $ 7,721,568 $ 589,905 December 31, 2016 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 marketable securities $ 9,951,897 $ 10,218,009 $ 266,112

Note C - Inventories (Tables)

Note C - Inventories (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, 2017 2016 Raw materials $ 363,739 $ 349,383 Work in process 39,004 24,214 Finished products 937,780 882,216 Total Inventories $ 1,340,523 $ 1,255,813

Note D - Income Taxes (Tables)

Note D - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Years ended December 31, Current 2017 2016 Federal $ 1,738,132 $ 1,058,714 State 117 (3,501 ) Total current provision for income taxes 1,738,249 1,055,213 Deferred Federal (31,760 ) 59,712 State --- --- Total deferred provision for income taxes (31,760 ) 59,712 Total provision for income taxes $ 1,706,489 $ 1,114,925
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years ended December 31, 2017 2016 ($) Tax rate ($) Tax rate Income taxes at statutory federal income tax rate of 34% $ 1,887,000 34.0 % $ 1,257,000 34.0 % State income taxes, net of Federal benefit --- --- (2,000 ) --- Domestic Production Activities tax benefit (160,000 ) (2.9 ) (104,000 ) (2.8 ) Nondeductible expenses 1,000 --- 1,000 --- Research & development credits (34,000 ) (0.6 ) (30,000 ) (0.8 ) Non-taxable dividends (5,000 ) (0.09 ) --- --- Deferred tax asset reduction for federal tax rate change 21,000 0.4 --- --- Other, net (4,000 ) (0.1 ) (7,000 ) (0.2 ) Provision for income taxes $ 1,706,000 30.7 % $ 1,115,000 30.2 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Years ended December 31, 2017 2016 Deferred tax assets Accounts receivable $ 4,456 $ 5,760 Inventories 9,104 14,163 Accrued expenses 157,610 234,594 Total deferred tax assets 171,170 254,517 Deferred tax liabilities Depreciation on property, plant and equipment (81,145 ) (161,657 ) Unrealized gain on marketable securities (123,880 ) (90,478 ) Total deferred tax liabilities (205,025 ) (252,135 ) Net deferred tax (liability)/asset $ (33,855 ) $ 2,382

Note F - Geographical and Oth24

Note F - Geographical and Other Information (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Years ended December 31, 2017 2016 Personal Care $ 6,868,227 $ 4,916,630 Medical 2,424,439 2,624,672 Pharmaceutical 3,987,076 3,443,215 Industrial and other 154,718 159,945 13,434,460 11,144,462 Less: Discounts and allowances (466,255 ) (367,595 ) Net Sales $ 12,968,205 $ 10,776,867
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	Years ended December 31, 2017 2016 United States $ 10,900,284 $ 8,699,491 Other countries 2,534,176 2,444,971 $ 13,434,460 $ 11,144,462
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]	Years ended December 31, 2017 2016 Customer A $ 5,350,392 $ 3,457,682 Customer B 1,750,167 1,628,905 All other customers 6,333,901 6,057,875 $ 13,434,460 $ 11,144,462

Note G - Comprehensive Income (

Note G - Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Changes in Accumulated Other December 31, 2017 December 31, 2016 Beginning balance - net of tax $ 175,634 $ 72,361 Unrealized gain on marketable securities – net of tax 222,499 104,284 Reclassification of tax effect on unrealized gain on marketable securities due to federal tax rate change 34,595 --- Realized gain (loss) on sale of marketable securities 33,297 (1,011 ) Ending balance - net of tax $ 466,025 $ 175,634

Note H - Accrued Expenses (Tabl

Note H - Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	2017 2016 Bonuses $ 200,000 $ 200,000 Distribution fees 254,863 225,879 Payroll and related expenses 152,903 151,653 Annual report expenses 62,510 63,447 Audit fee 43,268 54,868 Reserve for outdated material 127,768 101,177 Sales rebates 12,000 23,393 Insurance --- 9,381 Other 28,015 18,530 Total accrued expenses $ 881,327 $ 848,328

Note A - Nature of Business a27

Note A - Nature of Business and Summary of Significant Accounting Policies (Details Textual)	Dec. 18, 2017$ / shares	Jun. 12, 2017$ / shares	Dec. 19, 2016$ / shares	Jun. 15, 2016$ / shares	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Cash, FDIC Insured Amount					$ 250,000
Cash, Uninsured Amount					517,000
Common Stock, Dividends, Per Share, Cash Paid | $ / shares	$ 1	$ 0.42	$ 0.40	$ 0.35
Dividends					6,523,933	$ 3,445,740
Payments of Ordinary Dividends, Common Stock					6,507,249	3,436,867
Dividends Payable					16,684	8,873
Impairment of Long-Lived Assets Held-for-use					$ 0	$ 0
Number of Vendors					6	6
Unrecognized Tax Benefits					$ 0	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued					0	0
Shipping, Handling and Transportation Costs					77,000	84,000
Advertising Expense					4,000	25,000
Deferred Tax Liabilities, Net, Noncurrent					33,855
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent						2,382
AOCI Attributable to Parent [Member]
Reclassification of Tax Effects from AOCI to Retained Earnings Due to Change in Enacted Tax Rate					34,595
AOCI Attributable to Parent [Member] | Accounting Standards Update 2018-02 [Member]
Reclassification of Tax Effects from AOCI to Retained Earnings Due to Change in Enacted Tax Rate					34,595
Retained Earnings [Member]
Reclassification of Tax Effects from AOCI to Retained Earnings Due to Change in Enacted Tax Rate					(34,595)
Retained Earnings [Member] | Accounting Standards Update 2018-02 [Member]
Reclassification of Tax Effects from AOCI to Retained Earnings Due to Change in Enacted Tax Rate					$ (34,595)
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
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member]
Open Tax Year					2,014
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Latest Tax Year [Member]
Open Tax Year					2,016
State and Local Jurisdiction [Member] | New York State Division of Taxation and Finance [Member] | Earliest Tax Year [Member]
Open Tax Year					2,014
State and Local Jurisdiction [Member] | New York State Division of Taxation and Finance [Member] | Latest Tax Year [Member]
Open Tax Year					2,016
Distributors and Marketing Partners [Member]
Number of Customers					2	2
Renacidin [Member]
Finite-Lived Intangible Assets, Accumulated Amortization					$ 29,648	$ 14,824
Annual Dividend [Member]
Common Stock, Dividends, Per Share, Cash Paid | $ / shares	0.50
Special Dividend [Member]
Common Stock, Dividends, Per Share, Cash Paid | $ / shares	$ 0.50
Sales Revenue, Net [Member] | Product Concentration Risk [Member] | LUBRAJEL and RENACIDIN IRRIGATION [Member]
Concentration Risk, Percentage					94.00%	90.00%
Sales Revenue, Net [Member] | Product Concentration Risk [Member] | Lubrajel [Member]
Concentration Risk, Percentage					69.00%	64.00%
Sales Revenue, Net [Member] | Product Concentration Risk [Member] | Renacidin [Member]
Concentration Risk, Percentage					25.00%	26.00%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Distributors and Marketing Partners [Member]
Concentration Risk, Percentage					55.00%	46.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Distributors and Marketing Partners [Member]
Concentration Risk, Percentage					58.00%	36.00%
Cost of Goods, Product Line [Member] | Supplier Concentration Risk [Member]
Concentration Risk, Percentage					88.00%	85.00%

Note A - Nature of Business a28

Note A - Nature of Business and Summary of Significant Accounting Policies - Property, Plant, and Equipment Useful Lives (Details)	12 Months Ended
	Dec. 31, 2017
Factory Equipment And Fixtures [Member] | Minimum [Member]
Property, plant, and equipment, useful lives (Year)	5 years
Factory Equipment And Fixtures [Member] | Maximum [Member]
Property, plant, and equipment, useful lives (Year)	7 years
Building [Member]
Property, plant, and equipment, useful lives (Year)	40 years
Water Disposal System [Member] | Maximum [Member]
Property, plant, and equipment, estimated useful lives	Lesser of useful life or 20 years

Note A - Nature of Business a29

Note A - Nature of Business and Summary of Significant Accounting Policies - Future Amortization Expense on Other Assets (Details) - Renacidin [Member]	Dec. 31, 2017USD ($)
2,018	$ 14,824
2,019	14,824
2,020	14,823
Total:	$ 44,471

Note B - Marketable Securitie30

Note B - Marketable Securities (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Proceeds from Sale and Maturity of Marketable Securities	$ 4,776,044	$ 2,966,859
Marketable Securities, Realized Gain (Loss)	$ 33,297	$ (1,011)

Note B - Marketable Securitie31

Note B - Marketable Securities - Available-for-sale Securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cost	$ 7,131,663	$ 9,951,897
Marketable securities	7,721,568	10,218,009
Unrealized gain (loss)	589,905	266,112
Fixed Income Securities [Member]
Cost	6,003,131	9,339,352
Marketable securities	6,113,099	9,457,286
Unrealized gain (loss)	109,968	117,934
Equity And Other Mutual Funds [Member]
Cost	1,128,532	612,545
Marketable securities	1,608,469	760,723
Unrealized gain (loss)	$ 479,937	$ 148,178

Note C - Inventories (Details T

Note C - Inventories (Details Textual) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Inventory Valuation Reserves	$ 20,000	$ 20,000

Note C - Inventories - Summary

Note C - Inventories - Summary of Inventories (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Raw materials	$ 363,739	$ 349,383
Work in process	39,004	24,214
Finished products	937,780	882,216
Total Inventories	$ 1,340,523	$ 1,255,813

Note D - Income Taxes (Details

Note D - Income Taxes (Details Textual)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Percentage Of Net Income From Domestic Production Activities	9.00%	9.00%

Note D - Income Taxes - Provisi

Note D - Income Taxes - Provision for Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Federal	$ 1,738,132	$ 1,058,714
State	117	(3,501)
Total current provision for income taxes	1,738,249	1,055,213
Deferred
Federal	(31,760)	59,712
State
Total deferred provision for income taxes	(31,760)	59,712
Total provision for income taxes	$ 1,706,489	$ 1,114,925

Note D - Income Taxes - Reconci

Note D - Income Taxes - Reconciliation of the Effective Income Tax Rate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income taxes at statutory federal income tax rate of 34%	$ 1,887,000	$ 1,257,000
Income taxes at statutory federal income tax rate of 34%, percent	34.00%	34.00%
State income taxes, net of Federal benefit		$ (2,000)
State income taxes, net of Federal benefit, percent
Domestic Production Activities tax benefit	$ (160,000)	$ (104,000)
Domestic Production Activities tax benefit, percent	(2.90%)	(2.80%)
Nondeductible expenses	$ 1,000	$ 1,000
Nondeductible expenses, percent
Research & development credits	$ (34,000)	$ (30,000)
Research & development credits, percent	(0.60%)	(0.80%)
Non-taxable dividends	$ (5,000)
Non-taxable dividends, percent	(0.09%)
Deferred tax asset reduction for federal tax rate change	$ 21,000
Deferred tax asset reduction for federal tax rate change, percent	0.40%
Other, net	$ (4,000)	$ (7,000)
Other, net, percent	(0.10%)	(0.20%)
Provision for income taxes	$ 1,706,489	$ 1,114,925
Provision for income taxes, percent	30.70%	30.20%

Note D - Income Taxes - Deferre

Note D - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets
Accounts receivable	$ 4,456	$ 5,760
Inventories	9,104	14,163
Accrued expenses	157,610	234,594
Total deferred tax assets	171,170	254,517
Deferred tax liabilities
Depreciation on property, plant and equipment	(81,145)	(161,657)
Unrealized gain on marketable securities	(123,880)	(90,478)
Total deferred tax liabilities	(205,025)	(252,135)
Net deferred tax liability	$ (33,855)
Net deferred tax asset		$ 2,382

Note E - Benefit Plans (Details

Note E - Benefit Plans (Details Textual) - DC Plan [Member] - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	4.00%	4.00%
Defined Contribution, Discretionary Contribution Plan, Vesting Period	1 year
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 94,000	$ 87,000
Defined Contribution Plan, Employer Discretionary Contribution Amount Per Year Authorized	$ 175,000	$ 175,000
Discretionary Contributions Vesting at Two Years [Member]
Defined Contribution, Discretionary Contribution Plan, Vesting Period	2 years
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	20.00%
Discretionary Contributions Vesting Each Additional Year [Member]
Defined Contribution, Discretionary Contribution Plan, Vesting Period	6 years
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	20.00%

Note F - Geographical and Oth39

Note F - Geographical and Other Information (Details Textual)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Number of Operating Segments	1
Geographic Concentration Risk [Member] | Sales Revenue, Product Line [Member] | Medical [Member] | US with Subsequent Shipment to Foreign Locations [Member]
Concentration Risk, Percentage	80.00%	70.00%

Note F - Geographic and Other I

Note F - Geographic and Other Information - Net Sales (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Gross Sales	$ 13,434,460	$ 11,144,462
Less: Discounts and allowances	(466,255)	(367,595)
Net Sales	12,968,205	10,776,867
Personal Care [Member]
Gross Sales	6,868,227	4,916,630
Medical [Member]
Gross Sales	2,424,439	2,624,672
Pharmaceuticals [Member]
Gross Sales	3,987,076	3,443,215
Industrial And Other [Member]
Gross Sales	$ 154,718	$ 159,945

Note F - Geographic and Other41

Note F - Geographic and Other Information - Geographic Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Gross Sales	$ 13,434,460	$ 11,144,462
UNITED STATES
Gross Sales	10,900,284	8,699,491
Other Countries [Member]
Gross Sales	$ 2,534,176	$ 2,444,971

Note F - Geographic and Other42

Note F - Geographic and Other Information - Sales to Major Customers (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Gross Sales	$ 13,434,460	$ 11,144,462
Customer A [Member]
Gross Sales	5,350,392	3,457,682
Customer B [Member]
Gross Sales	1,750,167	1,628,905
All Other Customers [Member]
Gross Sales	$ 6,333,901	$ 6,057,875

Note G - Comprehensive Income -

Note G - Comprehensive Income - Accumulated Other Comprehensive Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Beginning balance - net of tax	$ 175,634	$ 72,361
Unrealized gain on marketable securities – net of tax	222,499	104,284
Reclassification of tax effect on unrealized gain on marketable securities due to federal tax rate change	34,595
Realized gain (loss) on sale of marketable securities	33,297	(1,011)
Ending balance - net of tax	$ 466,025	$ 175,634

Note H - Accrued Expenses - Sum

Note H - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Bonuses	$ 200,000	$ 200,000
Distribution fees	254,863	225,879
Payroll and related expenses	152,903	151,653
Annual report expenses	62,510	63,447
Audit fee	43,268	54,868
Reserve for outdated material	127,768	101,177
Sales rebates	12,000	23,393
Insurance		9,381
Other	28,015	18,530
Total accrued expenses	$ 881,327	$ 848,328

Note I - Supplemental Disclos45

Note I - Supplemental Disclosures of Cash Flow Information and Non-cash Investing and Financing Activities (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2017	Dec. 31, 2016
Income Taxes Paid		$ 1,600,000	$ 1,050,000
Convertible Common Stock, Shares Issuable upon Conversion		11,732
Dividends Receivable	$ 120,848
Investment Income, Dividend	21,894
Dividends Payable, Current	$ 98,954	$ 130,923	114,802
Unpaid Dividends		$ 16,684	$ 8,873

Note J - Related Party Transa46

Note J - Related Party Transactions (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Accounting and Tax Services [Member] | Director [Member]
Related Party Transaction, Expenses from Transactions with Related Party	$ 18,000	$ 21,500