TeraWulf (WULF) 10-Q 13 May 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 01, 2019
Document Information [Line Items]
Entity Registrant Name	IKONICS CORP
Entity Central Index Key	0001083301
Trading Symbol	iknx
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		1,983,553
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Balance Sheets (Curre

Condensed Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 617,246	$ 1,623,137
Short-term investments	2,940,000	2,695,000
Trade receivables, less allowance of $112,000 in 2019 and $53,000 in 2018	1,821,114	2,215,215
Inventories	2,840,176	2,046,588
Prepaid expenses and other assets	259,839	375,362
Income taxes receivable	113,321	2,768
Total current assets	8,591,696	8,958,070
PROPERTY, PLANT, AND EQUIPMENT, at cost:
Land and building	9,500,429	9,500,429
Machinery and equipment	5,022,691	4,964,816
Office equipment	1,564,978	1,559,728
Vehicles	245,674	245,679
Property, plant, and equipment, Gross	16,333,772	16,270,652
Less accumulated depreciation	(8,298,897)	(8,185,910)
Total property, plant and equipment at cost, net	8,034,875	8,084,742
INTANGIBLE ASSETS, less accumulated amortization of $155,908 in 2019 and $149,740 in 2018	372,693	376,406
Total assets	16,999,264	17,419,218
CURRENT LIABILITIES
Current portion of long-term debt	129,582	129,282
Accounts payable	860,106	647,528
Accrued compensation	236,935	366,900
Other accrued liabilities	143,019	159,821
Total current liabilities	1,369,642	1,303,531
LONG-TERM LIABILTIES
Long-term debt, less current portion	2,788,703	2,821,657
Deferred income taxes	183,000	183,000
Total long-term liabilities	2,971,703	3,004,657
Total liabilities	4,341,345	4,308,188
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred stock, par value $.10 per share; authorized 250,000 shares; issued none
Common stock, par value $.10 per share; authorized 4,750,000 shares; issued and outstanding 1,983,553 shares in 2019 and 2018.	198,355	198,355
Additional paid-in-capital	2,724,944	2,723,024
Retained earnings	9,734,620	10,189,651
Total stockholders' equity	12,657,919	13,111,030
Total liabilities and stockholders' equity	$ 16,999,264	$ 17,419,218

Condensed Balance Sheets (Cur_2

Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Trade receivables, allowances	$ 112,000	$ 53,000
Intangible assets, accumulated amortization	$ 155,908	$ 149,740
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, authorized (in shares)	250,000	250,000
Preferred stock, issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	4,750,000	4,750,000
Common stock, share issued (in shares)	1,983,553	1,983,553
Common stock, share outstanding (in shares)	1,983,553	1,983,553

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net sales	$ 3,528,691	$ 4,071,478
Cost of goods sold	2,519,572	2,709,059
GROSS PROFIT	1,009,119	1,362,419
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	1,381,965	1,348,983
RESEARCH AND DEVELOPMENT EXPENSES	178,842	154,076
LOSS FROM OPERATIONS	(551,688)	(140,640)
INTEREST EXPENSE	(22,275)	(19,935)
OTHER	16,194	9,421
LOSS BEFORE INCOME TAXES	(557,769)	(151,154)
INCOME TAX BENEFIT	(102,738)	(20,416)
NET LOSS	$ (455,031)	$ (130,738)
LOSS PER COMMON SHARE:
Basic (in dollars per share)	$ (0.23)	$ (0.07)
Diluted (in dollars per share)	$ (0.23)	$ (0.07)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	1,983,553	1,983,553
Diluted (in shares)	1,983,553	1,983,553

Statements of Stockholders̵

Statements of Stockholders’ Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
BALANCE (in shares) at Dec. 31, 2017	1,983,553
BALANCE at Dec. 31, 2017	$ 198,355	$ 2,709,390	$ 10,050,186	$ 12,957,931
Net loss			(130,738)	(130,738)
Stock based compensation		2,893		2,893
BALANCE (in shares) at Mar. 31, 2018	1,983,553
BALANCE at Mar. 31, 2018	$ 198,355	2,712,283	9,919,448	$ 12,830,086
BALANCE (in shares) at Dec. 31, 2018	1,983,553			1,983,553
BALANCE at Dec. 31, 2018	$ 198,355	2,723,024	10,189,651	$ 13,111,030
Net loss			(455,031)	(455,031)
Stock based compensation		1,920		$ 1,920
BALANCE (in shares) at Mar. 31, 2019	1,983,553			1,983,553
BALANCE at Mar. 31, 2019	$ 198,355	$ 2,724,944	$ 9,734,620	$ 12,657,919

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (455,031)	$ (130,738)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation	162,033	199,906
Amortization	8,932	9,442
Stock based compensation	1,920	2,893
Net gain on sale and disposal of property, plant and equipment	(7,487)
Deferred income taxes		12,839
Loss on intangible asset abandonment	343
Changes in working capital components:
Trade receivables	394,101	158,353
Inventories	(793,588)	(282,766)
Prepaid expenses and other assets	115,523	(25,586)
Income tax receivable	(110,553)	(40,622)
Accounts payable	212,578	286,829
Accrued expenses	(146,767)	(77,854)
Net cash (used in) provided by operating activities	(617,996)	112,696
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(117,075)	(49,004)
Proceeds from sales of property and equipment	12,396
Purchases of intangibles assets	(2,797)	(15,572)
Purchases of short-term investments	(1,715,000)	(1,205,000)
Proceeds on sale of short-term investments	1,470,000	1,425,000
Net cash (used in) provided by investing activities	(352,476)	155,424
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment on long-term debt	(35,419)	(35,632)
Net cash used in financing activities	(35,419)	(35,632)
NET (DECREASE) INCREADE IN CASH AND CASH EQUIVALENTS	(1,005,891)	232,488
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	1,623,137	929,700
CASH AND CASH EQUIVALENTS AT END OF PERIOD	617,246	1,162,188
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest	19,367	17,038
Cash paid for income taxes, net	$ 7,815	$ 7,367

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Basis of Presentation The condensed balance sheet of IKONICS Corporation (the “Company”) as of March 31, 2019, three March 31, 2019 2018, three March 31, 2019 2018, three March 31, 2019 2018, In the opinion of management, these statements reflect all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the financial position of IKONICS Corporation as of March 31, 2019, Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America, have been condensed or omitted. Therefore, these statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10 December 31, 2018. The results of operations for interim periods are not

Note 2 - Short-term Investments

Note 2 - Short-term Investments	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Cash, Cash Equivalents, and Short-term Investments [Text Block]	2. Short-Term Investments The Company’s $2.9 March 31, 2019 12 four six 2.25% 2.50%

Note 3 - Inventories

Note 3 - Inventories	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. Inventories The major components of inventories are as follows: Mar 31, 2019 Dec 31, 2018 Raw materials $ 2,127,147 $ 1,767,458 Work-in-progress 393,802 370,075 Finished goods 1,632,673 1,196,516 Reduction to LIFO cost (1,313,446 ) (1,287,461 ) Total Inventories $ 2,840,176 $ 2,046,588

Note 4 - Earnings Per Common Sh

Note 4 - Earnings Per Common Share (EPS)	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	4. Earnings Per Common Share (EPS) Basic EPS is calculated using net loss divided by the weighted average of common shares outstanding. Diluted EPS is calculated similarly to Basic EPS except that the weighted average number of common shares outstanding is increased to include the number of additional common shares that would have been outstanding if the potential dilutive common shares, such as those shares subject to options, had been issued. The options disclosed in Note 6 Shares used in the calculation of diluted EPS are summarized below: Three Months Ended Mar 31, 2019 Mar 31, 2018 Weighted average common shares outstanding 1,983,553 1,983,553 Dilutive effect of stock options — — Weighted average common and common equivalent shares outstanding 1,983,553 1,983,553 If the Company was in a net income position for the first three 2019, no 18,000 $13.22 If the Company was in a net income position for the first three 2018, no 18,168 $13.81

Note 5 - Stock-based Compensati

Note 5 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	5. Stock-Based Compensation The Company maintains a stock incentive plan which authorizes the issuance of up to 442,750 18,000 102,157 March 31, 2019. 85% 110% seven one three The Company charged compensation cost of approximately $2,000 $3,000 three March 31, 2019 2018, The Company receives a tax deduction for certain stock option exercises during the period in which the options are exercised, generally for the excess of the market price at the time the stock options are exercised over the exercise price of the options, which increases additional paid in capital and reduces income taxes payable. No three March 31, 2019 2018, no three March 31, 2019 2018. Stock option activity during the three March 31, 2019 Weighted Average Exercise Shares Price Outstanding at January 1, 2019 18,000 $ 13.22 Granted — — Exercised — — Expired and forfeited — — Outstanding at March 31, 2019 18,000 $ 13.22 Exercisable at March 31, 2019 12,247 $ 15.09 The aggregate intrinsic value of all options outstanding and exercisable at March 31, 2019 $0.

Note 6 - Segment Information

Note 6 - Segment Information	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	6. Segment Information The Company’s reportable segments are strategic business units that offer different products and have varied customer bases. There are four 2019, one 2019 2019, 2019 2018 10 December 31, 2018. Management evaluates the performance of each segment based on the components of divisional income (loss). Assets and liabilities are not For the three March 31, 2019: IKONICS IKONICS Chromaline Imaging DTX AMS Unalloc. Total Net sales $ 2,029,341 $ 1,088,806 $ 92,760 $ 317,784 $ — $ 3,528,691 Cost of goods sold 1,553,610 585,504 34,046 346,412 — 2,519,572 Gross profit (loss) 475,731 503,302 58,714 (28,628 ) — 1,009,119 Selling general and adminstrative* 445,003 322,453 34,605 88,148 491,756 1,381,965 Research and development* — — — — 178,842 178,842 Income (loss) from operations $ 30,728 $ 180,849 $ 24,109 $ (116,776 ) $ (670,598 ) $ (551,688 ) For the three March 31, 2018: IKONICS IKONICS Chromaline Imaging DTX AMS Unalloc. Total Net sales $ 2,340,810 $ 1,219,348 $ 88,666 $ 422,654 $ — $ 4,071,478 Cost of goods sold 1,664,878 623,611 25,392 395,178 — 2,709,059 Gross profit 675,932 595,737 63,274 27,476 — 1,362,419 Selling general and adminstrative* 425,329 285,025 34,852 84,783 518,994 1,348,983 Research and development* — — — — 154,076 154,076 Income (loss) from operations $ 250,603 $ 310,712 $ 28,422 $ (57,307 ) $ (673,070 ) $ (140,640 ) *The Company does not Trade receivables by segment as of March 31, 2019 December 31, 2018 Mar 31, 2019 Dec 31, 2018 Chromaline $ 1,200,281 $ 1,550,411 IKONICS Imaging 416,230 360,551 DTX 40,775 15,692 AMS 238,700 331,708 Unallocated (74,872 ) (43,147 ) Total $ 1,821,114 $ 2,215,215

Note 7 - Income Taxes

Note 7 - Income Taxes	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	7. Income Taxes The Company recorded its interim provision for income taxes by applying the estimated annual effective tax rate to the year-to-date pre-tax loss and adjusting for discrete tax items recorded in the period. Deferred income taxes result from temporary differences between the reporting of amounts for financial statement purposes and income tax purposes. These differences relate primarily to different methods used for income tax reporting purposes, including for depreciation and amortization, warranty and vacation accruals, and deductions related to allowances for doubtful accounts receivable and inventory reserves. The provision for income taxes (benefits) included current federal and state income tax expense (benefit), as well as deferred federal and state income tax expense. The effective tax rate for the three March 31, 2019 18.4%, 13.5% three March 31, 2018. $103,000 $20,000 three March 31, 2019 2018, The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority is more-likely -than- not not 50% March 31, 2019 no The Company is not 2017 December 22, 2017. January 1, 2018, 35% 21%

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	Mar 31, 2019 Dec 31, 2018 Raw materials $ 2,127,147 $ 1,767,458 Work-in-progress 393,802 370,075 Finished goods 1,632,673 1,196,516 Reduction to LIFO cost (1,313,446 ) (1,287,461 ) Total Inventories $ 2,840,176 $ 2,046,588

Note 4 - Earnings Per Common _2

Note 4 - Earnings Per Common Share (EPS) (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended Mar 31, 2019 Mar 31, 2018 Weighted average common shares outstanding 1,983,553 1,983,553 Dilutive effect of stock options — — Weighted average common and common equivalent shares outstanding 1,983,553 1,983,553

Note 5 - Stock-based Compensa_2

Note 5 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Weighted Average Exercise Shares Price Outstanding at January 1, 2019 18,000 $ 13.22 Granted — — Exercised — — Expired and forfeited — — Outstanding at March 31, 2019 18,000 $ 13.22 Exercisable at March 31, 2019 12,247 $ 15.09

Note 6 - Segment Information (T

Note 6 - Segment Information (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	IKONICS IKONICS Chromaline Imaging DTX AMS Unalloc. Total Net sales $ 2,029,341 $ 1,088,806 $ 92,760 $ 317,784 $ — $ 3,528,691 Cost of goods sold 1,553,610 585,504 34,046 346,412 — 2,519,572 Gross profit (loss) 475,731 503,302 58,714 (28,628 ) — 1,009,119 Selling general and adminstrative* 445,003 322,453 34,605 88,148 491,756 1,381,965 Research and development* — — — — 178,842 178,842 Income (loss) from operations $ 30,728 $ 180,849 $ 24,109 $ (116,776 ) $ (670,598 ) $ (551,688 ) IKONICS IKONICS Chromaline Imaging DTX AMS Unalloc. Total Net sales $ 2,340,810 $ 1,219,348 $ 88,666 $ 422,654 $ — $ 4,071,478 Cost of goods sold 1,664,878 623,611 25,392 395,178 — 2,709,059 Gross profit 675,932 595,737 63,274 27,476 — 1,362,419 Selling general and adminstrative* 425,329 285,025 34,852 84,783 518,994 1,348,983 Research and development* — — — — 154,076 154,076 Income (loss) from operations $ 250,603 $ 310,712 $ 28,422 $ (57,307 ) $ (673,070 ) $ (140,640 ) Mar 31, 2019 Dec 31, 2018 Chromaline $ 1,200,281 $ 1,550,411 IKONICS Imaging 416,230 360,551 DTX 40,775 15,692 AMS 238,700 331,708 Unallocated (74,872 ) (43,147 ) Total $ 1,821,114 $ 2,215,215

Note 2 - Short-term Investmen_2

Note 2 - Short-term Investments (Details Textual) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Short-term Investments, Total	$ 2,940,000	$ 2,695,000
Certificates of Deposit [Member] | Minimum [Member]
Certificate of Deposit Maturity Period	120 days
Certificate of Deposit Interest Rate	2.25%
Certificates of Deposit [Member] | Maximum [Member]
Certificate of Deposit Maturity Period	180 days
Certificate of Deposit Interest Rate	2.50%

Note 3 - Inventories - Major Co

Note 3 - Inventories - Major Components of Inventories (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Raw materials	$ 2,127,147	$ 1,767,458
Work-in-progress	393,802	370,075
Finished goods	1,632,673	1,196,516
Reduction to LIFO cost	(1,313,446)	(1,287,461)
Total Inventories	$ 2,840,176	$ 2,046,588

Note 4 - Earnings Per Common _3

Note 4 - Earnings Per Common Share (EPS) (Details Textual) - Share-based Payment Arrangement, Option [Member] - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Antidilutive Securities Excluded from Computation Of Earnings Per Share Amount Based on Net Income Position	18,000	18,168
Share Based Compensation Arrangement by Share Based Payment Award Options With AntiDilutive Effect Weighted Average Exercise Price Based on Net Income Position	$ 13.22	$ 13.81

Note 4 - Earnings Per Common _4

Note 4 - Earnings Per Common Share (EPS) - Summary of Calculation of Diluted EPS (Details) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Weighted average common shares outstanding (in shares)	1,983,553	1,983,553
Dilutive effect of stock options (in shares)
Weighted average common and common equivalent shares outstanding (in shares)	1,983,553	1,983,553

Note 5 - Stock-based Compensa_3

Note 5 - Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	18,000		18,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	102,157
Share-based Payment Arrangement, Expense	$ 2,000	$ 3,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 0
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	18,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	7 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	442,750
Maximum [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	110.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Minimum [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year

Note 5 - Stock-based Compensa_4

Note 5 - Stock-based Compensation - Stock Option Activity (Details) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Outstanding, Shares (in shares)	18,000
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 13.22
Granted, Shares (in shares)	0	0
Granted, Weighted Average Exercise Price (in dollars per share)
Exercised, Shares (in shares)	0	0
Exercised, Weighted Average Exercise Price (in dollars per share)
Expired and forfeited, Shares (in shares)
Expired and forfeited, Weighted Average Exercise Price (in dollars per share)
Outstanding, Shares (in shares)	18,000
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 13.22
Exercisable, Shares (in shares)	12,247
Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 15.09

Note 6 - Segment Information (D

Note 6 - Segment Information (Details Textual)	3 Months Ended
	Mar. 31, 2019
Number of Reportable Segments	4

Note 6 - Segment Information -

Note 6 - Segment Information - Reportable Segments (Details) - USD ($)		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Net sales		$ 3,528,691	$ 4,071,478
Cost of goods sold		2,519,572	2,709,059
Gross profit (loss)		1,009,119	1,362,419
Selling general and adminstrative*		1,381,965	1,348,983
Research and development*		178,842	154,076
Income (loss) from operations		(551,688)	(140,640)
Trade receivables		1,821,114		$ 2,215,215
Segment Reconciling Items [Member]
Net sales		3,528,691	4,071,478
Cost of goods sold		2,519,572	2,709,059
Gross profit (loss)		1,009,119	1,362,419
Selling general and adminstrative*	[1]	1,381,965	1,348,983
Research and development*	[1]	178,842	154,076
Income (loss) from operations		(551,688)	(140,640)
Trade receivables		(74,872)		(43,147)
Chromaline [Member] | Operating Segments [Member]
Trade receivables		1,200,281		1,550,411
Ikonics Imaging [Member] | Operating Segments [Member]
Net sales		92,760	88,666
Cost of goods sold		34,046	25,392
Gross profit (loss)		58,714	63,274
Selling general and adminstrative*	[1]	34,605	34,852
Research and development*	[1]
Income (loss) from operations		24,109	28,422
Trade receivables		416,230		360,551
Domestic [Member] | Operating Segments [Member]
Net sales		2,029,341	2,340,810
Cost of goods sold		1,553,610	1,664,878
Gross profit (loss)		475,731	675,932
Selling general and adminstrative*	[1]	445,003	425,329
Research and development*	[1]
Income (loss) from operations		30,728	250,603
Export [Member] | Operating Segments [Member]
Net sales		1,088,806	1,219,348
Cost of goods sold		585,504	623,611
Gross profit (loss)		503,302	595,737
Selling general and adminstrative*	[1]	322,453	285,025
Research and development*	[1]
Income (loss) from operations		180,849	310,712
DTX [Member] | Operating Segments [Member]
Net sales		317,784	422,654
Cost of goods sold		346,412	395,178
Gross profit (loss)		(28,628)	27,476
Selling general and adminstrative*	[1]	88,148	84,783
Research and development*	[1]
Income (loss) from operations		(116,776)	(57,307)
Trade receivables		40,775		15,692
AMS [Member] | Operating Segments [Member]
Net sales
Cost of goods sold
Gross profit (loss)
Selling general and adminstrative*	[1]	491,756	518,994
Research and development*	[1]	178,842	154,076
Income (loss) from operations		(670,598)	$ (673,070)
Trade receivables		$ 238,700		$ 331,708
[1]	The Company does not allocate all selling, general and administrative expenses or any research and development expenses to its operating segments for internal reporting.

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation, Percent, Total	18.40%	13.50%	21.00%	35.00%
Income Tax Expense (Benefit), Total	$ (102,738)	$ (20,416)
Unrecognized Tax Benefits, Ending Balance	$ 0