Talon International (TALN) 10-Q 11 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 10, 2017
Document Information [Line Items]
Entity Registrant Name	TALON INTERNATIONAL, INC.
Entity Central Index Key	1,047,881
Trading Symbol	taln
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)		92,274,255
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 2,653,868	$ 4,913,577
Accounts receivable, net	5,361,852	4,315,608
Inventories, net	629,268	500,482
Prepaid expenses and other current assets	902,818	702,906
Total current assets	9,547,806	10,432,573
Property and equipment, net	857,141	884,208
Intangible assets, net	4,263,325	4,266,596
Deferred income tax assets, net	5,188,952	5,224,018
Other assets	400,442	347,638
Total assets	20,257,666	21,155,033
Current liabilities:
Accounts payable	6,240,166	6,378,896
Accrued expenses	2,142,014	2,972,689
Current portion of revolving line of credit from related party	75,000
Current portion of capital lease obligations	24,224	23,749
Total current liabilities	8,481,404	9,375,334
Revolving line of credit from related party, net of current portion, discounts and deferred financing costs	3,992,755	4,041,345
Capital lease obligations, net of current portion	30,798	37,035
Deferred income tax liabilities	3,043	3,037
Other liabilities	228,291	236,088
Total liabilities	12,736,291	13,692,839
Commitments and contingencies (Note 11)
Stockholders’ Equity:
Common Stock, $0.001 par value, 300,000,000 shares authorized; 92,274,255 shares issued and outstanding at March 31, 2017 and December 31, 2016	92,274	92,274
Additional paid-in capital	65,092,133	65,040,432
Accumulated deficit	(57,738,366)	(57,743,904)
Accumulated other comprehensive income	75,334	73,392
Total stockholders’ equity	7,521,375	7,462,194
Total liabilities and stockholders’ equity	$ 20,257,666	$ 21,155,033

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Common Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, shares authorized (in shares)	300,000,000	300,000,000
Common Stock, shares issued (in shares)	92,274,255	92,274,255
Common Stock, shares outstanding (in shares)	92,274,255	92,274,255

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net sales	$ 11,117,534	$ 11,264,632
Cost of goods sold	7,029,158	7,100,373
Gross profit	4,088,376	4,164,259
Sales and marketing expenses	1,607,566	1,502,886
General and administrative expenses	2,298,951	2,425,958
Total operating expenses	3,906,517	3,928,844
Income from operations	181,859	235,415
Interest expense, net	153,926	150,647
Income before provision for income taxes	27,933	84,768
Provision for income taxes	22,395	35,651
Net income	$ 5,538	$ 49,117
Basic and diluted net income per share (in dollars per share)	$ 0	$ 0
Weighted average number of common shares outstanding - Basic (in shares)	92,274,255	92,267,831
Weighted average number of common shares outstanding - Diluted (in shares)	92,931,260	93,473,691
Net income	$ 5,538	$ 49,117
Other comprehensive income (loss) from foreign currency translation	1,942	(498)
Total comprehensive income	$ 7,480	$ 48,619

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income	$ 5,538	$ 49,117
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	80,426	72,661
Amortization of deferred financing cost and debt discounts	26,410	26,069
Stock based compensation	51,701	112,397
Deferred income taxes, net	35,073	32,940
Change in provision for bad debt	(17,346)	(252)
Inventory valuation provisions (recoveries), net	8,014	(1,152)
Changes in operating assets and liabilities:
Accounts receivable	(1,022,987)	(1,253,802)
Inventories	(136,432)	(127,020)
Prepaid expenses and other current assets	(199,000)	(66,715)
Other assets	(51,753)	(47,499)
Accounts payable and accrued expenses	(985,154)	575,812
Other liabilities	(10,139)	2,866
Net cash used in operating activities	(2,215,649)	(624,578)
Cash flows from investing activities:
Acquisitions of property and equipment	(48,563)	(83,294)
Net cash used in investing activities	(48,563)	(83,294)
Cash flows from financing activities:
Payment of capital leases	(5,762)	(5,323)
Net cash used in financing activities	(5,762)	(5,323)
Net effect of foreign currency exchange translation on cash	10,265	2,585
Net decrease in cash and cash equivalents	(2,259,709)	(710,610)
Cash and cash equivalents at beginning of period	4,913,577	2,852,315
Cash and cash equivalents at end of period	2,653,868	2,141,705
Cash received (paid) during the period for:
Interest paid	(127,948)	(8,902)
Interest received	432	436
Income tax paid, net (principally foreign)		11,220
Non-cash financing activities:
Interest accrued on revolving line of credit from related party		116,112
Effect of foreign currency translation on net assets	$ 1,942	$ (498)

Note 1 - Presentation of Interi

Note 1 - Presentation of Interim Information	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1. The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and in accordance with the instructions to Form 10 8 10 December 31, 2016.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 2. A complete description of the Company’s Significant Accounting Policies is included in the Company’s Annual Report on Form 10 December 31, 2016, Allowance for Accounts Receivable Doubtful Accounts The Company is required to make judgments as to the collectability of accounts receivable based on established aging policy, historical experience and future expectations. The allowances for doubtful accounts represent allowances for customer trade accounts that are estimated to be partially or entirely uncollectible. These allowances are used to reduce gross trade receivables to their net realizable value. The Company records these allowances based on estimates related to the following factors: (i) customer specific allowances; (ii) amounts based upon an aging schedule; and (iii) an estimated amount, based on the Company’s historical experience, for issues not yet identified. Bad debt expense (recoveries), net for the three March 31, 2017 2016 $(17,371) $(252), Fair Value Measurements Financial Accounting Standards Board ("FASB") Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures” three Level 1—Observable Level 2—Include Level 3—Unobservable The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company’s financial instruments include cash and cash equivalents, and revolving line of credit from related party. In accordance with ASC 820, 1 At March 31, 2017 December 31, 2016, $662,319 $1,125,000, Intangible Assets Intangible assets consist of the Talo n 350, Intangibles - Goodwill and Other 360, Property, Plant and Equipment The Company applies Accounting Standards Update (“ASU”) 2012 02, Intangibles – Goodwill and Other - Testing Indefinite-lived Intangible Assets for Impairment first 50%, 350 30. December 31, 2016, for interim triggering events and noted no triggering events that would result in impairment as of March 31, 2017. From time to time the Company makes investments in product and technical opportunities that are complimentary to or enhancements to its apparel accessories business. During the three March 31, 2017 2016, March 31, 2017 December 31, 2016 $38,738 Intangible assets as of March 31, 2017 December 31, 2016 March 31, December 31, 2017 2016 Tradename - Talon trademark $ 4,110,751 $ 4,110,751 Intellectual property rights 217,459 217,459 Less: Accumulated amortization (10 to 17 years) (64,885 ) (61,614 ) Intellectual property rights, net 152,574 155,845 Intangible assets, net $ 4,263,325 $ 4,266,596 Amortization expense for intangible assets was $3,271 three March 31, 2017 2016. Classification of Expenses Costs of Goods Sold Sales and Marketing Expenses – General and Administrative Expenses Interest Expense, net three March 31, 2017 2016 $154,359 $151,083, three March 31, 2017 2016 $1,000. Foreign Currency Translation The Company’s reporting currency is US dollars. The Company has operations and holds assets in various foreign countries. The local currency is the functional currency for the Company’s subsidiaries in China and India. Assets and liabilities are translated at end-of-period exchange rates while revenues and expenses are translated at the average exchange rates in effect during the period. Equity is translated at historical rates and the resulting cumulative translation adjustments are included as a component of accumulated other comprehensive income until the translation adjustments are realized. Included in accumulated other comprehensive income was a cumulative foreign currency translation gain of $75,334 $73,392 March 31, 2017 December 31, 2016, Comprehensive Income Comprehensive income consists of net income and unrealized income (loss) on foreign currency translation adjustments. The foreign currency translation adjustment represents the net currency translation gains and losses related to our China and India subsidiaries, which have not been reflected in the net income for the periods presented. The Company reports comprehensive income in accordance with Topic 220 Comprehensive Income” 2011 05 Presentation of Comprehensive Income Use of Estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the year. The accounting estimates that require the Company’s most significant, difficult and subjective judgments include the valuation allowance for accounts receivable and inventory, the assessment of recoverability of long-lived assets and intangible assets, stock-based compensation and the recognition and measurement of current and deferred income taxes (including the measurement of uncertain tax positions). Actual results could differ materially from the Company’s estimates. Presentation In order to facilitate the comparison of financial information, certain amounts reported in the prior year have been reclassified to conform to the current year presentation.

Note 3 - New Accounting Pronoun

Note 3 - New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Note 3. In January 2017, 2017 03, “Accounting Changes and Error Corrections (Topic 250) 323).” 2016 74. January 2017. 2017 03 first 2017. 2017 03 In December 2016, 2016 20, Technical Corrections and Improvements 606): Revenue from Contracts with Customers 606, “ Revenue from Contracts with Customers ” twelve 606. In December 2016, 2016 19, Technical Corrections and Improvements” In October 2016, 2016 16, Income Taxes” 740): Intra-Entity Transfers of Assets Other Than Inventory The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. In August 2016, 2016 15, Statement of Cash Flows 230): Classification of Certain Cash Receipts and Cash Payments December 15, 2017, In June 2016, 2016 13, Financial Instruments – Credit Losses 326), December 15, 2019, December 15, 2018. In March 2016, 2016 09, Compensation-Stock Compensation (Topic 718): ” December 15, 2016, first 2017. In February 2016, 2016 02 842). December 15, 2018 In July 2015, 2015 11, Simplifying the Measurement of Inventory ” December 15, 2016, first 2017. 2015 11 In May 2014, 2014 09, five 2014 09 2015 14, 606): December 15, 2017. December 15, 2016, first 2018 Other pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or are not expected to be significant to the Company’s financial position, results of operations or cash flows.

Note 4 - Net Income Per Share

Note 4 - Net Income Per Share	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	N ote 4. Net Income Per Shar The following is a reconciliation of the numerators and denominators of the basic and diluted net income per share computations: Net income Shares Per Share Amount Three Months Ended March 31, 2017: Basic net income: Net income $ 5,538 92,274,255 $ 0.00 Effect of Dilutive Securities - Options - 657,005 0.00 Diluted net income per share $ 5,538 92,931,260 $ 0.00 Three Months Ended March 31, 2016: Basic net income: Net income $ 49,117 92,267,831 $ 0.00 Effect of Dilutive Securities - Options - 1,205,860 0.00 Diluted net income per share $ 49,117 93,473,691 $ 0.00 For the three March 31, 2017, 1,841,667 $0.04 $0.10 7,976,600 $0.10 $1.33 3,250,000 $0.14 $0.18 For the three March 31, 2016, 2,891,667 $0.04 $0.11 9,748,600 $0.14 $1.33 3,250,000 $0.14 $0.18

Note 5 - Accounts Receivable

Note 5 - Accounts Receivable	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	Note 5. Accounts receivable are included on the consolidated balance sheets, net of the allowance for doubtful accounts. The allowance for doubtful accounts at March 31, 2017 December 31, 2016 $22,953 $40,299,

Note 6 - Inventories

Note 6 - Inventories	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 6. Inventories are stated at the lower of cost, determined using the first first may Inventories consist of the following: March 31, December 31, 2017 2016 Finished goods $ 700,789 $ 563,989 Less: Reserves (71,521 ) (63,507 ) Total inventories $ 629,268 $ 500,482

Note 7 - Accrued Expenses

Note 7 - Accrued Expenses	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Accrued Liabilities, Disclosure [Text Block]	Note 7. Accrued expenses are included on the consolidated balance sheets. Accrued expenses consist of the following: March 31, December 31, 2017 2016 Accrued payroll and related expenses $ 828,913 $ 1,532,734 Accrued commissions 409,084 557,369 Accrued rebates 216,675 316,287 Taxes payable 215,724 184,232 Accrued expenses 335,416 268,330 Other 136,202 113,737 Total accrued expenses $ 2,142,014 $ 2,972,689

Note 8 - Credit Facilities, Lon

Note 8 - Credit Facilities, Long Term Obligations and Related Party Transactions	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 8. Revolving Line of Credit from Related Party On August 10, 2015, may Directors. Pursuant to the Loan Agreement, Princess Investment agreed to make available to the Company a loan of up to $3,000,000 12.5%. September 1, 2015, September 1, 2016 August 10, 2018. 1,000,000 five $0.18 August 11, 2015, $1,500,000, $1,440,278 August 12, 2015. $500,000 December 21, 2015, $2,000,000 December 21, 2015. On December 21, 2015, August 10, 2015, $3,000,000 $6,000,000 December 21, 2020 $1,000,000 two three twelve three March 31, 2017, Princess Investment will make advances under the Revolving Line of Credit from time to time as requested by the Company. The Company may may November 21, 2020. 11.5%. December 21, 2015 December 1, 2016 December 1, 2016, No December 31, 2017. $25,000 twelve December 31, 2018, $35,000 twelve December 31, 2019 $50,000 twelve December 31, 2020, $60,000 The payment and performance of all the indebtedness and other obligations to Princess Investment, including all borrowings under the Princess Investment Credit Agreement, are guaranteed by the subsidiaries Talon Technologies, Inc. and Tag-It Pacific Limited pursuant to a Guaranty Agreement entered into on August 10, 2015, December 21, 2015. August 10, 2015, December 21, 2015. Pursuant to the Princess Investment Credit Agreement, the Company issued to Princess Investment warrants to purchase 2,000,000 five $0.18 On December 23, 2015, $2,000,000, $1,622,000 December 31, 2013, December 31, 2015. Upon repayment of the indebtedness under the Company’s Credit Agreement with Union Bank, Union Bank released its liens on the Company’s assets and those of the Company’s subsidiaries, Princess Investment became the only secured lender, and in addition to the Credit Agreement, the following agreements (the “Security Agreements”) terminated in accordance with their terms: Continuing Guaranties, dated December 31, 2013, December 31, 2013, August 10, 2015, August 10, 2015, After consideration of FASB ASC 480 Distinguishing Liability and Equity 815 Derivatives and Hedging the Company concluded that the warrants issued to Princess Investment should be recorded as an equity instrument. The fair value of the first one $130,000 August 10, 2015 two $320,000 December 21, 2015 At March 31, 2017 December 31, 2016, $4,455,643 March 31, 2017 December 31, 2016, $1,544,357 . March 31, December 31, 2017 2016 $6,000,000 revolving line of credit from related party and accrued interest payable per terms under Princess Investment Credit Agreement through maturity date of December 21, 2020; interest at a rate per annum of 11.5% $ 4,455,643 $ 4,455,643 Less: Debt discounts net of related amortization (320,165 ) (342,028 ) Less: Deferred financing costs net of related amortization (67,723 ) (72,270 ) Revolving line of credit, net of debt discounts and deferred financing costs 4,067,755 4,041,345 Less: Current portion (75,000 ) - Revolving line of credit, net of debt discounts, deferred financing costs and current portion $ 3,992,755 $ 4,041,345 Interest expense, net, included on the Company’s Consolidated Statements of Income and Comprehensive Income is comprised as follows: Three Months Ended March 31, 2017 2016 Revolving line of credit from related party $ 126,345 $ 116,112 Amortization of deferred financing costs 4,547 4,547 Amortization of debt discounts 21,863 21,521 Total Credit Facilities related interest expense 152,755 142,180 Other interest expense, net 1,171 8,467 Interest expense, net $ 153,926 $ 150,647 Capital Leases The Company has financed purchases of furniture and fixtures through various capital lease obligations which bear interest at a rate of 8% May 2019. Capital lease obligations at March 31, 2017 December 31, 2016 $55,022 $60,784,

Note 9 - Stockholders' Equity

Note 9 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 9. Authorized Common Stock and Preferred Stock The Company’s Certificate of Incorporation presently authorizes 300,000,000 $0.001 The Company’s Certificate of Incorporation presently authorizes the issuance of 3,000,000 $0.001 No March 31, 2017 December 31, 2016.

Note 10 - Stock-based Compensat

Note 10 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 10 . Stock-Based Compensation The Company accounts for stock-based awards to employees and directors in accordance with FASB ASC 718, Compensation - Stock Compensation 505 50, Equity-Based Payments to Non-Employees Stock Options and Warrants The Company’s 2008 15,000,000 The Company’s 2007 2,600,000 2007 The Board of Directors, who determines the recipients and terms of the awards granted, administers the Company’s stock plans. Awards under the Company’s stock plans are generally granted with an exercise price equal to the average market price of the Company’s stock for the five 4 10 No three March 31, 2017. three March 31, 2016, 4,205,000 Stock-based compensation expense for the three March 31, 2017 2016 $51,701 $112,397, As of March 31, 2017, $490,958 2.43 March 31, 2016, $819,925, 3.27 On February 10, 2016, 250,000 five $0.14 4(a)(2) 1933, The following table summarizes the activity in the Company’s share-based compensation plans and other share-based grants during the three March 31, 2017. Number of Shares Weighted Average Exercise Price Employees and Directors Options outstanding - January 1, 2017 9,933,267 $ 0.16 Granted - $ - Exercised - $ - Cancelled (115,000 ) $ 0.17 Options outstanding - March 31, 2017 9,818,267 $ 0.16 Non Employees Warrants outstanding - January 1, 2017 3,250,000 $ 0.18 Granted - $ - Exercised - $ - Cancelled - $ - Warrants outstanding - March 31, 2017 3,250,000 $ 0.18

Note 11 - Income Taxes

Note 11 - Income Taxes	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 11. Provision for income taxes, net, for the three March 31, 2017 2016, $22,395 $35,651 Current income taxes receivable were associated with foreign and domestic prepayments net of income tax payable, and totaled $27,968 $23,123 March 31, 2017 December 31, 2016, Current income taxes payable were principally associated with foreign withholdings, funds transfers, and income tax payable from the Company’s Asia operations. Current income taxes payable as of March 31, 2017 December 31, 2016 $112,842 $120,187, Deferred income tax assets, net, totaled $5,188,952 $5,224,018 March 31, 2017 December 31, 2016, Deferred income tax liabilities totaled $3,043 $3,037 March 31, 2017 December 31, 2016,

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 12. The Company currently has pending claims and complaints that arise in the ordinary course of the Company’s business. The Company believes that it has meritorious defenses to these claims and that the claims are either covered by insurance or would not have a material effect on the Company’s consolidated financial position or results of operations if adversely determined against the Company. In November 2002, 460 10, Guarantees 460 10”) 850 10, Related Party Disclosures 850 10”). 460 10 850 10: ● In accordance with the bylaws of the Company, and indemnification agreements entered into with the members of the Board of Directors and executive officers, the Company’s officers and directors are indemnified for certain events or occurrences arising as a result of the officer or director serving in such capacity. The term of the indemnification period is for the lifetime of the officer or director. The maximum potential amount of future payments the Company could be required to make under the indemnification provisions of its bylaws and indemnification agreements is unlimited. However, the Company has a director and officer liability insurance policy that reduces its exposure and enables it to recover a portion of any future amounts paid. As a result of its insurance policy coverage, the Company believes the estimated fair value of the indemnification provisions of its bylaws and indemnification agreements is minimal and therefore, the Company has not recorded any related liabilities. ● The Company enters into indemnification provisions under its agreements with investors and its agreements with other parties in the normal course of business, typically with suppliers, customers and landlords. Under these provisions, the Company generally indemnifies and holds harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of the Company’s activities or, in some cases, as a result of the indemnified party’s activities under the agreement. These indemnification provisions often include indemnifications relating to representations made by the Company with regard to intellectual property rights, and generally survive termination of the underlying agreement. The maximum potential amount of future payments the Company could be required to make under these indemnification provisions is unlimited. The Company has not incurred material costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, the Company believes the estimated fair value of these indemnification agreements is minimal and accordingly, the Company has not recorded any related liabilities.

Note 13 - Segment Reporting and

Note 13 - Segment Reporting and Geographic Information	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 13. The Company manufactures and distributes a full range of zipper (Talon Zipper) and trim (Talon Trim) components, which includes stretch technology component products, to specialty retailers and mass merchandisers. The Company’s organization is based on operating divisions representing these major product lines, and the Company’s Chief Operating Decision Makers (“CODM”, identified as the Company’s executive officers with the oversight of Talon’s Board of Directors) use these divisions to assess performance, allocate resources and make other operating decisions. During 2015, 280, Segment Reporting As a result of this assessment, the Company has identified and realigned the reporting of its operating segments into two Information about the assets for each of the reportable segments is not maintained by the Company and therefore is not reviewed by the CODM as assets are reviewed and assessed on a consolidated basis. As a result, information about the assets for each of the reportable segments is not included on the Company’s segment reporting footnote. As the Company evolves, adjustments may The net revenues and operating margins for the two Three Months Ended March 31, 2017 Talon Zipper Talon Trim Talon Consolidated Net sales $ 3,800,784 $ 7,316,750 $ 11,117,534 Cost of goods sold 2,800,279 4,228,879 7,029,158 Gross profit $ 1,000,505 $ 3,087,871 4,088,376 Operating expenses 3,906,517 Income from operations $ 181,859 Three Months Ended March 31, 2016 Talon Zipper Talon Trim Talon Consolidated Net sales $ 4,276,384 $ 6,988,248 $ 11,264,632 Cost of goods sold 3,016,409 4,083,964 7,100,373 Gross profit $ 1,259,975 $ 2,904,284 4,164,259 Operating expenses 3,928,844 Income from operations $ 235,415 The Company distributes its products internationally and has reporting requirements based on geographic regions. Revenues are attributed to countries based upon customer delivery locations and the net book value of long-lived assets (consisting of property and equipment and intangibles) is attributed to countries based on the location of the assets, as follows: Three Months Ended Sales: March 31, Country / Region 2017 2016 United States $ 1,081,046 $ 1,014,567 China 2,183,383 2,701,114 Hong Kong 2,556,725 2,812,145 Bangladesh 919,665 1,049,298 Vietnam 1,031,483 927,932 Indonesia 936,048 478,148 India 743,558 513,604 Other 1,665,626 1,767,824 Total $ 11,117,534 $ 11,264,632 March 31, December 31, 2017 2016 Long-lived Assets: United States $ 4,895,722 $ 4,915,383 China 154,804 164,081 Hong Kong 65,164 66,347 India 4,776 4,993 Total $ 5,120,466 $ 5,150,804

Note 14 - Subsequent Events

Note 14 - Subsequent Events	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	Note 14. The Company evaluated subsequent events after the balance sheet date of March 31, 2017

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]	Allowance for Accounts Receivable Doubtful Accounts The Company is required to make judgments as to the collectability of accounts receivable based on established aging policy, historical experience and future expectations. The allowances for doubtful accounts represent allowances for customer trade accounts that are estimated to be partially or entirely uncollectible. These allowances are used to reduce gross trade receivables to their net realizable value. The Company records these allowances based on estimates related to the following factors: (i) customer specific allowances; (ii) amounts based upon an aging schedule; and (iii) an estimated amount, based on the Company’s historical experience, for issues not yet identified. Bad debt expense (recoveries), net for the three March 31, 2017 2016 $(17,371) $(252),
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements Financial Accounting Standards Board ("FASB") Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures” three Level 1—Observable Level 2—Include Level 3—Unobservable The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company’s financial instruments include cash and cash equivalents, and revolving line of credit from related party. In accordance with ASC 820, 1 At March 31, 2017 December 31, 2016, $662,319 $1,125,000,
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	Intangible Assets Intangible assets consist of the Talo n 350, Intangibles - Goodwill and Other 360, Property, Plant and Equipment The Company applies Accounting Standards Update (“ASU”) 2012 02, Intangibles – Goodwill and Other - Testing Indefinite-lived Intangible Assets for Impairment first 50%, 350 30. December 31, 2016, for interim triggering events and noted no triggering events that would result in impairment as of March 31, 2017. From time to time the Company makes investments in product and technical opportunities that are complimentary to or enhancements to its apparel accessories business. During the three March 31, 2017 2016, March 31, 2017 December 31, 2016 $38,738 Intangible assets as of March 31, 2017 December 31, 2016 March 31, December 31, 2017 2016 Tradename - Talon trademark $ 4,110,751 $ 4,110,751 Intellectual property rights 217,459 217,459 Less: Accumulated amortization (10 to 17 years) (64,885 ) (61,614 ) Intellectual property rights, net 152,574 155,845 Intangible assets, net $ 4,263,325 $ 4,266,596 Amortization expense for intangible assets was $3,271 three March 31, 2017 2016.
Cost of Sales, Policy [Policy Text Block]	Classification of Expenses Costs of Goods Sold Sales and Marketing Expenses – General and Administrative Expenses Interest Expense, net three March 31, 2017 2016 $154,359 $151,083, three March 31, 2017 2016 $1,000.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation The Company’s reporting currency is US dollars. The Company has operations and holds assets in various foreign countries. The local currency is the functional currency for the Company’s subsidiaries in China and India. Assets and liabilities are translated at end-of-period exchange rates while revenues and expenses are translated at the average exchange rates in effect during the period. Equity is translated at historical rates and the resulting cumulative translation adjustments are included as a component of accumulated other comprehensive income until the translation adjustments are realized. Included in accumulated other comprehensive income was a cumulative foreign currency translation gain of $75,334 $73,392 March 31, 2017 December 31, 2016,
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Income Comprehensive income consists of net income and unrealized income (loss) on foreign currency translation adjustments. The foreign currency translation adjustment represents the net currency translation gains and losses related to our China and India subsidiaries, which have not been reflected in the net income for the periods presented. The Company reports comprehensive income in accordance with Topic 220 Comprehensive Income” 2011 05 Presentation of Comprehensive Income
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the year. The accounting estimates that require the Company’s most significant, difficult and subjective judgments include the valuation allowance for accounts receivable and inventory, the assessment of recoverability of long-lived assets and intangible assets, stock-based compensation and the recognition and measurement of current and deferred income taxes (including the measurement of uncertain tax positions). Actual results could differ materially from the Company’s estimates.
Basis of Accounting, Policy [Policy Text Block]	Presentation In order to facilitate the comparison of financial information, certain amounts reported in the prior year have been reclassified to conform to the current year presentation.

Note 2 - Summary of Significa21

Note 2 - Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	March 31, December 31, 2017 2016 Tradename - Talon trademark $ 4,110,751 $ 4,110,751 Intellectual property rights 217,459 217,459 Less: Accumulated amortization (10 to 17 years) (64,885 ) (61,614 ) Intellectual property rights, net 152,574 155,845 Intangible assets, net $ 4,263,325 $ 4,266,596

Note 4 - Net Income Per Share (

Note 4 - Net Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Net income Shares Per Share Amount Three Months Ended March 31, 2017: Basic net income: Net income $ 5,538 92,274,255 $ 0.00 Effect of Dilutive Securities - Options - 657,005 0.00 Diluted net income per share $ 5,538 92,931,260 $ 0.00 Three Months Ended March 31, 2016: Basic net income: Net income $ 49,117 92,267,831 $ 0.00 Effect of Dilutive Securities - Options - 1,205,860 0.00 Diluted net income per share $ 49,117 93,473,691 $ 0.00

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, December 31, 2017 2016 Finished goods $ 700,789 $ 563,989 Less: Reserves (71,521 ) (63,507 ) Total inventories $ 629,268 $ 500,482

Note 7 - Accrued Expenses (Tabl

Note 7 - Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	March 31, December 31, 2017 2016 Accrued payroll and related expenses $ 828,913 $ 1,532,734 Accrued commissions 409,084 557,369 Accrued rebates 216,675 316,287 Taxes payable 215,724 184,232 Accrued expenses 335,416 268,330 Other 136,202 113,737 Total accrued expenses $ 2,142,014 $ 2,972,689

Note 8 - Credit Facilities, L25

Note 8 - Credit Facilities, Long Term Obligations and Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	March 31, December 31, 2017 2016 $6,000,000 revolving line of credit from related party and accrued interest payable per terms under Princess Investment Credit Agreement through maturity date of December 21, 2020; interest at a rate per annum of 11.5% $ 4,455,643 $ 4,455,643 Less: Debt discounts net of related amortization (320,165 ) (342,028 ) Less: Deferred financing costs net of related amortization (67,723 ) (72,270 ) Revolving line of credit, net of debt discounts and deferred financing costs 4,067,755 4,041,345 Less: Current portion (75,000 ) - Revolving line of credit, net of debt discounts, deferred financing costs and current portion $ 3,992,755 $ 4,041,345
Interest Income and Interest Expense Disclosure [Table Text Block]	Three Months Ended March 31, 2017 2016 Revolving line of credit from related party $ 126,345 $ 116,112 Amortization of deferred financing costs 4,547 4,547 Amortization of debt discounts 21,863 21,521 Total Credit Facilities related interest expense 152,755 142,180 Other interest expense, net 1,171 8,467 Interest expense, net $ 153,926 $ 150,647

Note 10 - Stock-based Compens26

Note 10 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of Shares Weighted Average Exercise Price Employees and Directors Options outstanding - January 1, 2017 9,933,267 $ 0.16 Granted - $ - Exercised - $ - Cancelled (115,000 ) $ 0.17 Options outstanding - March 31, 2017 9,818,267 $ 0.16 Non Employees Warrants outstanding - January 1, 2017 3,250,000 $ 0.18 Granted - $ - Exercised - $ - Cancelled - $ - Warrants outstanding - March 31, 2017 3,250,000 $ 0.18

Note 13 - Segment Reporting a27

Note 13 - Segment Reporting and Geographic Information (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended March 31, 2017 Talon Zipper Talon Trim Talon Consolidated Net sales $ 3,800,784 $ 7,316,750 $ 11,117,534 Cost of goods sold 2,800,279 4,228,879 7,029,158 Gross profit $ 1,000,505 $ 3,087,871 4,088,376 Operating expenses 3,906,517 Income from operations $ 181,859 Three Months Ended March 31, 2016 Talon Zipper Talon Trim Talon Consolidated Net sales $ 4,276,384 $ 6,988,248 $ 11,264,632 Cost of goods sold 3,016,409 4,083,964 7,100,373 Gross profit $ 1,259,975 $ 2,904,284 4,164,259 Operating expenses 3,928,844 Income from operations $ 235,415
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended Sales: March 31, Country / Region 2017 2016 United States $ 1,081,046 $ 1,014,567 China 2,183,383 2,701,114 Hong Kong 2,556,725 2,812,145 Bangladesh 919,665 1,049,298 Vietnam 1,031,483 927,932 Indonesia 936,048 478,148 India 743,558 513,604 Other 1,665,626 1,767,824 Total $ 11,117,534 $ 11,264,632
Long-lived Assets by Geographic Areas [Table Text Block]	March 31, December 31, 2017 2016 Long-lived Assets: United States $ 4,895,722 $ 4,915,383 China 154,804 164,081 Hong Kong 65,164 66,347 India 4,776 4,993 Total $ 5,120,466 $ 5,150,804

Note 2 - Summary of Significa28

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Allowance for Doubtful Accounts Receivable, Recoveries	$ 17,371	$ 252
Cash and Cash Equivalents, Fair Value Disclosure	662,319		$ 1,125,000
Finite-Lived Intangible Assets, Gross	217,459		217,459
Amortization of Intangible Assets	3,271	3,271
Interest Expense	154,359	151,083
Interest Income, Other	1,000	1,000
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	75,334		73,392
Goodwill and Intangible Asset Impairment	0		0
Intellectual Property [Member]
Finite-Lived Intangible Assets, Gross	38,738		$ 38,738
Payments to Acquire Intangible Assets	$ 0	$ 0

Note 2 - Summary of Significa29

Note 2 - Summary of Significant Accounting Policies - Intangible Assets (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Tradename - Talon trademark	$ 4,110,751	$ 4,110,751
Intellectual property rights	217,459	217,459
Less: Accumulated amortization (10 to 17 years)	(64,885)	(61,614)
Intellectual property rights, net	152,574	155,845
Intangible assets, net	$ 4,263,325	$ 4,266,596

Note 2 - Summary of Significa30

Note 2 - Summary of Significant Accounting Policies - Intangible Assets (Details) (Parentheticals)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Minimum [Member]
Finite Lived Intangible Assets, Useful Life (Year)	10 years	10 years
Maximum [Member]
Finite Lived Intangible Assets, Useful Life (Year)	17 years	17 years

Note 4 - Net Income Per Share31

Note 4 - Net Income Per Share (Details Textual) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,250,000	3,250,000
Warrant [Member] | Minimum [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.14	$ 0.14
Warrant [Member] | Maximum [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.18	$ 0.18
Employee And Board Member Stock Options [Member]
Incremental Common Shares Attributable to Dilutive Effect of Equity Unit Purchase Agreements	1,841,667	2,891,667
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 0.04	$ 0.04
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 0.10	$ 0.11
Employee And Board Member Stock Options [Member] | Stock Compensation Plan [Member]
Incremental Common Shares Attributable to Dilutive Effect of Equity Unit Purchase Agreements	7,976,600	9,748,600
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 0.10	$ 0.14
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 1.33	$ 1.33

Note 4 - Net Income Per Share -

Note 4 - Net Income Per Share - Reconciliation of the Numerators and Denominators of the Basic and Diluted Net Income Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income	$ 5,538	$ 49,117
Weighted average number of common shares outstanding - Basic (in shares)	92,274,255	92,267,831
Per share amount basic (in dollars per share)	$ 0	$ 0
Options (in shares)	657,005	1,205,860
Diluted net income per share	$ 5,538	$ 49,117
Diluted net income per share (in shares)	92,931,260	93,473,691
Diluted net income per share (in dollars per share)	$ 0	$ 0

Note 5 - Accounts Receivable (D

Note 5 - Accounts Receivable (Details Textual) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Allowance for Doubtful Accounts Receivable, Current	$ 22,953	$ 40,299

Note 6 - Inventories - Inventor

Note 6 - Inventories - Inventories (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Finished goods	$ 700,789	$ 563,989
Less: Reserves	(71,521)	(63,507)
Total inventories	$ 629,268	$ 500,482

Note 7 - Accrued Expenses - Acc

Note 7 - Accrued Expenses - Accrued Expenses (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Accrued payroll and related expenses	$ 828,913	$ 1,532,734
Accrued commissions	409,084	557,369
Accrued rebates	216,675	316,287
Taxes payable	215,724	184,232
Accrued expenses	335,416	268,330
Other	136,202	113,737
Total accrued expenses	$ 2,142,014	$ 2,972,689

Note 8 - Credit Facilities, L36

Note 8 - Credit Facilities, Long Term Obligations and Related Party Transactions (Details Textual) - USD ($)	Feb. 10, 2016	Dec. 23, 2015	Aug. 12, 2015	Aug. 11, 2015	Aug. 10, 2015	Mar. 31, 2017	Dec. 21, 2015	Dec. 31, 2016
Capital Lease Obligation Interest Rate						8.00%
Capital Lease Obligations						$ 55,022		$ 60,784
Line of Credit [Member] | Princess Investment Holdings Inc [Member]
Long-term Debt, Gross						$ 4,455,643		$ 4,455,643
Debt Instrument, Interest Rate, Stated Percentage						11.50%		11.50%
Line of Credit Facility, Remaining Borrowing Capacity						$ 1,544,357		$ 1,544,357
Princess Investment Warrant [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	250,000
ClassOfWarrantOrRightWarrantTerm	5 years				5 years
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.14
Princess Investment Holdings Inc [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						2,000,000
ClassOfWarrantOrRightWarrantTerm						5 years
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 0.18
Proceeds from Related Party Debt		$ 2,000,000
Warrants and Rights Outstanding					$ 130,000		$ 320,000
Princess Investment Holdings Inc [Member]
Subordinated Debt Maximum Indebtedness							6,000,000
Debt Instrument, Interest Rate During Period					12.50%
Class of Warrant or Right, Number of Securities Called by Warrants or Rights					1,000,000
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 0.18
Proceeds from Related Party Debt				$ 1,500,000
Long-term Debt, Gross							2,000,000
Financial Covenant Loss after Taxes Maximum							$ 1,000,000
Debt Instrument, Interest Rate, Stated Percentage							11.50%
Long Term Debt Maturities Monthly Repayments of Principal in Year Two						$ 25,000
Long Term Debt Maturities Monthly Repayments of Principal in Year Three						35,000
Long Term Debt Maturities Monthly Repayments of Principal in Year Four						50,000
Long Term Debt Maturities, Monthly Repayments of Principal in Next Twelve Months						0
Princess Investment Holdings Inc [Member] | Permission From Union Bank Lender To Borrow From Princess Investment Holdings [Member]
Subordinated Debt Maximum Indebtedness					$ 3,000,000
Princess Investment Holdings Inc [Member] | Additional Advance [Member]
Proceeds from Related Party Debt							$ 500,000
Princess Investment Holdings Inc [Member] | Paid Upon Maturity [Member] | Loan Fee [Member]
Payments of Financing Costs						$ 60,000
Union Bank [Member] | Term Loan Payable [Member]
Repayments of Notes Payable			$ 1,440,278
Union Bank [Member] | Princess Investment Holdings Inc [Member]
Debt Instrument, Periodic Payment		$ 1,622,000

Note 8 - Credit Facilities, L37

Note 8 - Credit Facilities, Long Term Obligations and Related Party Transactions - Revolving Line of Credit (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Less: Current portion	$ (75,000)
Revolving line of credit, net of debt discounts, deferred financing costs and current portion	3,992,755	4,041,345
Line of Credit [Member] | Princess Investment Holdings Inc [Member]
$6,000,000 revolving line of credit from related party and accrued interest payable per terms under Princess Investment Credit Agreement through maturity date of December 21, 2020; interest at a rate per annum of 11.5%	4,455,643	4,455,643
Less: Debt discounts net of related amortization	(320,165)	(342,028)
Less: Deferred financing costs net of related amortization	(67,723)	(72,270)
Revolving line of credit, net of debt discounts and deferred financing costs	4,067,755	4,041,345
Less: Current portion	(75,000)
Revolving line of credit, net of debt discounts, deferred financing costs and current portion	$ 3,992,755	$ 4,041,345

Note 8 - Credit Facilities, L38

Note 8 - Credit Facilities, Long Term Obligations and Related Party Transactions - Revolving Line of Credit (Details) (Parentheticals) - Line of Credit [Member] - Princess Investment Holdings Inc [Member] - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Revolving Term Loan, Face Amount	$ 6,000,000	$ 6,000,000
Revolving Term Loan, Interest Rate	11.50%	11.50%

Note 8 - Credit Facilities, L39

Note 8 - Credit Facilities, Long Term Obligations and Related Party Transactions - Interest Expense Included in Consolidated Statements of Operations (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Amortization of deferred financing costs	$ 4,547	$ 4,547
Amortization of debt discounts	21,863	21,521
Total Credit Facilities related interest expense	152,755	142,180
Interest expense, net	153,926	150,647
Miscellaneous [Member]
Interest expense, net	1,171	8,467
Term Loan Payable [Member]
Debt Interest Expense	$ 126,345	$ 116,112

Note 9 - Stockholders' Equity (

Note 9 - Stockholders' Equity (Details Textual) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	3,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001
Preferred Stock, Shares Outstanding	0	0

Note 10 - Stock-based Compens41

Note 10 - Stock-based Compensation (Details Textual) - USD ($)	Feb. 10, 2016	Aug. 10, 2015	Mar. 31, 2017	Mar. 31, 2016	Nov. 08, 2013
Allocated Share-based Compensation Expense			$ 51,701	$ 112,397
Princess Investment Warrant [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	250,000
ClassOfWarrantOrRightWarrantTerm	5 years	5 years
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.14
Options Issued To Employees And Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			0	4,205,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized			$ 490,958	$ 819,925
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			2 years 156 days	3 years 98 days
2008 Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized					15,000,000
2007 Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			2,600,000
The 2007 and 2008 Stock Incentive Plans [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term			10 years

Note 10 - Stock-based Compens42

Note 10 - Stock-based Compensation - Stock-based Compensation - Stock Options (Details) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Princess Investment Warrant [Member] | Non-Employee [Member]
Granted (in shares)
Granted, weighted average exercise price (in dollars per share)
Exercised (in shares)
Exercised, weighted average exercise price (in dollars per share)
Cancelled (in shares)
Cancelled, weighted average exercise price (in dollars per share)
Warrants outstanding (in shares)	3,250,000
Warrants outstanding, weighted average exercise price (in dollars per share)	$ 0.18
Warrants outstanding (in shares)	3,250,000
Warrants outstanding, weighted average exercise price (in dollars per share)	$ 0.18
Options Issued To Employees And Directors [Member]
Options outstanding (in shares)	9,933,267
Options outstanding, weighted average exercise price (in dollars per share)	$ 0.16
Granted (in shares)	0	4,205,000
Granted, weighted average exercise price (in dollars per share)
Exercised (in shares)
Exercised, weighted average exercise price (in dollars per share)
Cancelled (in shares)	(115,000)
Cancelled, weighted average exercise price (in dollars per share)	$ 0.17
Options outstanding (in shares)	9,818,267
Options outstanding, weighted average exercise price (in dollars per share)	$ 0.16

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Income Tax Expense (Benefit)	$ 22,395	$ 35,651
Deferred Tax Assets, Net of Valuation Allowance	5,188,952		$ 5,224,018
Deferred Tax Liabilities, Net, Noncurrent	3,043		3,037
Prepaid Expenses and Other Current Assets [Member]
Income Taxes Receivable	27,968		23,123
Accrued Expenses [Member]
Accrued Income Taxes, Current	$ 112,842		$ 120,187

Note 13 - Segment Reporting a44

Note 13 - Segment Reporting and Geographic Information (Details Textual)	3 Months Ended
	Mar. 31, 2017
Number of Reportable Segments	2

Note 13 - Segment Reporting a45

Note 13 - Segment Reporting and Geographic Information - Net Revenues and Operating Margins (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net sales	$ 11,117,534	$ 11,264,632
Cost of goods sold	7,029,158	7,100,373
Gross profit	4,088,376	4,164,259
Operating expenses	3,906,517	3,928,844
Income from operations	181,859	235,415
Operating Segments [Member]
Net sales	11,117,534	11,264,632
Cost of goods sold	7,029,158	7,100,373
Gross profit	4,088,376	4,164,259
Operating expenses	3,906,517	3,928,844
Income from operations	181,859	235,415
Talon Zippers [Member] | Operating Segments [Member]
Net sales	3,800,784	4,276,384
Cost of goods sold	2,800,279	3,016,409
Gross profit	1,000,505	1,259,975
Talon Trim [Member] | Operating Segments [Member]
Net sales	7,316,750	6,988,248
Cost of goods sold	4,228,879	4,083,964
Gross profit	$ 3,087,871	$ 2,904,284

Note 13 - Segment Reporting a46

Note 13 - Segment Reporting and Geographic Information - Revenues by Delivery Locations (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Sales - Geographic Regions	$ 11,117,534	$ 11,264,632
Geography Eliminations [Member] | UNITED STATES
Sales - Geographic Regions	1,081,046	1,014,567
Geography Eliminations [Member] | CHINA
Sales - Geographic Regions	2,183,383	2,701,114
Geography Eliminations [Member] | HONG KONG
Sales - Geographic Regions	2,556,725	2,812,145
Geography Eliminations [Member] | BANGLADESH
Sales - Geographic Regions	919,665	1,049,298
Geography Eliminations [Member] | VIET NAM
Sales - Geographic Regions	1,031,483	927,932
Geography Eliminations [Member] | INDONESIA
Sales - Geographic Regions	936,048	478,148
Geography Eliminations [Member] | INDIA
Sales - Geographic Regions	743,558	513,604
Geography Eliminations [Member] | Other Geographical Area [Member]
Sales - Geographic Regions	$ 1,665,626	$ 1,767,824

Note 13 - Segment Reporting a47

Note 13 - Segment Reporting and Geographic Information - Long-lived Assets By Location (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Long-lived assets - geographical	$ 5,120,466	$ 5,150,804
Geography Eliminations [Member] | UNITED STATES
Long-lived assets - geographical	4,895,722	4,915,383
Geography Eliminations [Member] | CHINA
Long-lived assets - geographical	154,804	164,081
Geography Eliminations [Member] | HONG KONG
Long-lived assets - geographical	65,164	66,347
Geography Eliminations [Member] | INDIA
Long-lived assets - geographical	$ 4,776	$ 4,993