Table Trac (TBTC) 10-Q 13 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 13, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Registrant Name	TABLE TRAC INC
Entity Central Index Key	1,090,396
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	TBTC
Entity Common Stock, Shares Outstanding		4,546,065

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Sep. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash	$ 349,461	$ 1,208,201
Accounts receivable, net	2,588,856	2,224,576
Inventory	867,916	893,743
Prepaid expenses and other current assets	59,326	98,607
Income taxes receivable	68,501	16,610
TOTAL CURRENT ASSETS	3,934,060	4,441,737
LONG-TERM ASSETS
Patent, net	1,979	3,003
Property and equipment, net	56,324	2,138
Other long-term assets	902,194	344,816
Deferred tax asset	210,000	19,000
Long-term accounts receivable - financed contracts	1,807,526	675,683
TOTAL LONG-TERM ASSETS	2,978,023	1,044,640
TOTAL ASSETS	6,912,083	5,486,377
CURRENT LIABILITIES
Accounts payable and accrued expenses	421,707	217,352
Payroll liabilities	77,090	60,726
Current portion of note payable	7,096	0
Deferred revenue - short-term	25,200	38,975
Income taxes payable	0	109,967
Deferred tax liability	790,000	766,947
TOTAL CURRENT LIABILITIES	1,321,093	1,193,967
LONG-TERM LIABILITIES
Note payable, net of current portion	27,482	0
Deferred revenue - long-term	2,785,399	1,090,746
TOTAL LONG-TERM LIABILITIES	2,812,881	1,090,746
TOTAL LIABILITIES	4,133,974	2,284,713
STOCKHOLDERS' EQUITY
Common stock, 0.001 par value; 25,000,000 shares authorized: 4,655,734 shares issued and 4,533,885 outstanding at September 30, 2015 and 4,705,734 issued and 4,704,734 outstanding at December 31, 2014	4,656	4,706
Additional paid-in capital	1,801,248	1,845,198
Retained earnings	1,074,688	1,353,182
Stockholders' Equity before Treasury Stock	2,880,592	3,203,086
Treasury stock, 102,849 and 1,000 shares (at cost) at September 30, 2015 and December 31, 2014	(102,483)	(1,422)
TOTAL STOCKHOLDERS’ EQUITY	2,778,109	3,201,664
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 6,912,083	$ 5,486,377

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	4,655,734	4,705,734
Common stock, shares outstanding	4,552,885	4,704,734
Treasury stock, shares	102,849	1,000

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues	$ 811,841	$ 870,744	$ 2,885,461	$ 2,946,256
Cost of sales	254,909	125,021	905,755	656,568
Gross profit	556,932	745,723	1,979,706	2,289,688
Operating Expenses:
Selling, general and administrative	841,343	689,766	2,455,742	2,082,751
Income (loss) from operations	(284,411)	55,957	(476,036)	206,937
Other income	20,138	17,289	37,142	53,361
Income (loss) before taxes	(264,273)	73,246	(438,894)	260,298
Income tax expense (benefit)	(93,400)	20,012	(160,400)	83,012
Net income (loss)	$ (170,873)	$ 53,234	$ (278,494)	$ 177,286
Basic earnings (loss) per common share (in dollar per share)	$ (0.04)	$ 0.01	$ (0.06)	$ 0.04
Weighted-average basic shares outstanding (in shares)	4,573,759	4,782,305	4,615,812	4,777,690
Diluted earnings (loss) per common share (in dollar per share)	$ (0.04)	$ 0.01	$ (0.06)	$ 0.04
Weighted-average diluted shares outstanding (in shares)	4,573,759	4,782,305	4,615,812	4,777,690

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOW - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
OPERATING ACTIVITIES
Net income (loss)	$ (278,494)	$ 177,286
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	5,045	16,062
Deferred income taxes	(167,947)	(120,800)
Gain on disposal of asset	(6,000)	0
Stock issued for services	22,420	6,750
Changes in operating assets and liabilities:
Accounts receivable	(1,496,123)	1,239,915
Inventory	25,827	(234,208)
Prepaid expenses and other assets	(518,097)	98,220
Accounts payable and accrued expenses	211,572	(404,189)
Payroll liabilities	16,364	8,525
Deferred revenue	1,680,878	(463,903)
Income taxes receivable / payable	(161,858)	187,018
Net cash provided by (used in) operating activities	(666,413)	510,676
INVESTING ACTIVITIES
Purchase of property and equipment	(17,207)	(2,185)
Net cash used in investing activities	(17,207)	(2,185)
FINANCING ACTIVITIES
Payments on note payable	0	(8,180)
Repurchase of common stock	(175,120)	0
Net cash used in financing activities	(175,120)	(8,180)
NET INCREASE (DECREASE) IN CASH	(858,740)	500,311
CASH
Beginning of year	1,208,201	1,038,288
End of period	349,461	1,538,599
Cash paid for income taxes	150,000	13,971
Non-cash investing and financing activities
Vehicle financed with note payable	$ 34,580	$ 0

Nature of Business and Summary

Nature of Business and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	1. Nature of Business and Summary of Significant Accounting Policies – The accompanying unaudited condensed financial statements of Table Trac, Inc. (the “Company,” or “Table Trac”) have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. The balance sheet as of September 30, 2015 and the statements of operations for the three and nine months ended September 30, 2015 and 2014, and the statement of cash flows for the nine months ending September 30, 2015 and 2014 are unaudited but include all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the financial position at such date and the operating results and cash flows for those periods. Certain information normally included in financial statements and related footnotes prepared in accordance with generally accepted accounting principles has been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. The accompanying financial statements should be read in conjunction with the financial statements and notes included in the Table Trac Annual Report on Form 10-K for the year ended December 31, 2014. Table Trac was formed under the laws of the State of Nevada in June 1995. The Company has its offices in Minnetonka, Minnesota. The Company has developed and sells an information and management system that automates and monitors various aspects of the operations of casinos. Table Trac provides system sales and technical support to casinos. System sales include installation, custom casino system configuration, and training. In addition, license and technical support are provided under separate license and service contracts. The preparation of financial statements in conformity with U.S. 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 reporting period. The Company uses estimates and assumptions in accounting for the following significant matters, among others: revenue recognition, realizability of accounts receivable, the valuation of deferred tax assets and liabilities, deferred revenue and costs, and other contingencies. Actual results could differ from those estimates. The Company derives revenues from the sales of systems, licenses and maintenance fees, and services, and rental agreements. System Sales Revenue from systems that have been demonstrated to meet customer specifications during installation is recognized when evidence of an arrangement exists, the product has been installed, title and risk of loss have transferred to the customer and collection of the resulting receivable is reasonably assured. System sales, which are accounted for as multiple-element arrangements, include multiple products and/or services. For multiple-element arrangements the Company allocates the revenue to each element based on their relative fair estimated value based on vendor specific objective evidence (VSOE) and recognizes the associated revenue when all revenue recognition criteria have been met for each element. If there are contracts the Company does not have VSOE, or third party evidence of fair value of all elements, an estimated selling price model is used to allocate revenue to delivered elements. The Company does offer its customers contracts with extended payment terms. The Company must evaluate if any extended payment terms in the contract is an indicator of the revenue not being fixed or determinable. Provided all other revenue recognition criteria have been satisfied, the Company recognizes the revenue if payment of a significant portion of the systems sales is due within 12 months of the delivery of the product. The Company also analyzes its standard business practice of using long-term contracts and the history of collecting on extended payment term contracts without making concessions for determining if revenue should be recognized. Revenue and associated costs of sales are deferred if contract terms exceed historical collection results or if a substantial portion of the contract is not due within 12 months after delivery of the product. The Company analyzes each contract for proper revenue recognition based on that contract’s facts and circumstances. Interest is recorded upon receipt to “other income” on the statements of operations. Maintenance revenue Maintenance revenue is recognized ratably over the contract period. The VSOE for maintenance is based upon the renewal rate for contracted services. Service revenue Service revenue is recognized after the services are performed and collection of the resulting receivable is reasonably assured. The VSOE for service revenue is established based upon the price determined by management having the relative authority when the element is not yet sold separately for the services. Rental revenue The Company may offer customers a rental contract. Revenues are billed monthly on a per-game per-day basis. There is an option to purchase the system after the rental contract expires at a pre-determined residual value. Deferred system sales costs consist of installed system costs incurred on participation-based contracts. These costs are recognized on a straight-line basis over the term of the contract which is generally 18-48 months beginning when revenues are generated. At the end of the contract period, the customer will usually receive title to the system. Accounts receivable are recorded at the invoiced amount. Accounts receivable include regular customer receivables and amounts from financed contracts coming due within 12 months. Amounts from financed contracts due beyond 12 months are recorded as "long-term accounts receivable – financed contracts." Interest is recorded upon receipt to other income on the statements of operations. An allowance for doubtful accounts is recorded when the Company believes the amounts may not be collected. Management believes that receivables, net of the allowance for doubtful accounts, are fully collectible. While the ultimate result may differ, management believes that any write-off not allowed for will not have a material impact on the Company's financial position. For the Nine Months Ended September 30 2015 2014 % Sales % AR % Sales % AR A 3.6 % 0.8 % 6.3 % 6.3 % B 6.2 % 6.5 % 4.6 % 16.2 % C 2.6 % 2.8 % 17.7 % 11.7 % D 5.0 % 0.1 % 10.9 % 0.0 % E 1.9 % 0.6 % 5.3 % 5.5 % F 0.9 % 0.0 % 4.5 % 2.2 % G 29.5 % 14.5 % 8.4 % 5.4 % H 4.4 % 34.7 % 0.0 % 0.0 % All Others 45.9 % 40.0 % 42.3 % 52.7 % Total 100.0 % 100.0 % 100.0 % 100.0 % For the Three Months Ended September 30 2015 2014 % Sales % Sales A 9.8 % 18.4 % B 8.2 % 6.4 % C 3.0 % 2.4 % D 3.4 % 6.7 % E 2.2 % 10.7 % F 1.0 % 10.2 % G 10.1 % 9.8 % H 11.6 % 0.0 % All Others 50.7 % 35.4 % Total 100.0 % 100.0 % The Company does derive a portion of its revenue from foreign customers. For the three and nine month periods ending September 30, 2015, South America represents 17.6 15.8 Inventory Inventory, consisting of finished goods, is stated at the lower of cost or market. The average cost method, which approximates the first in, first out method, is used to value inventory. Inventory is reviewed annually for the lower of cost or market and obsolescence. Any material cost found to be above market value or considered obsolete is written down accordingly. The inventory value as of September 30, 2015 was $ 867,916 20,679 The Company expenses all costs related to research and development as incurred. Research and development expense was $ 5,108 6,536 17,668 17,117 In May 2014, and amended in July 2015, the Financial Accounting Standards Board (FASB) issued guidance creating Accounting Standards Codification (“ASC”) Section 606, “Revenue from Contracts with Customers.” The new section will replace Section 605, “Revenue Recognition” and creates modifications to various other revenue accounting standards for specialized transactions and industries. The section is intended to conform revenue accounting principles to a concurrently issued International Financial Reporting Standards with previously differing treatment between United States practice and those of much of the rest of the world, as well as, to enhance disclosures related to disaggregated revenue information. The updated guidance is effective for annual reporting periods beginning on or after December 15, 2017, and interim periods within those annual periods. The Company will adopt the new provisions of this accounting standard at the beginning of 2018. The Company will further study the implications of this statement in order to evaluate the expected impact on its financial statements.

Accounts Receivable

Accounts Receivable	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Accounts Receivable [Text Block]	2. Accounts Receivable – September 30, 2015 December 31, 2014 Accounts receivable under normal 30 day terms $ 979,394 $ 1,406,665 Financed contracts: Short-term 0 22,754 Current portion of long-term 1,710,541 896,236 Long-term, net of current portion 1,807,526 675,683 Total accounts receivable 4,497,461 3,001,338 Less allowance for doubtful accounts (101,079) (101,079) Accounts receivable, net $ 4,396,382 $ 2,900,259 Presented on the balance sheet as: Accounts receivable, net $ 2,588,856 $ 2,224,576 Long-term accounts receivable - financed contracts 1,807,526 675,683 The allowance for financed and trade receivable represents management’s estimate of probable losses in our trade and financed receivables as of the date of the financial statements. The allowance provides for probable losses that have been identified with specific customer relationships and for probable losses believed to be inherent of the trade and financed receivables, but that have not been specifically identified. Accounts receivable includes financed contracts at September 30, 2015 and December 31, 2014 which are $ 3,518,067 1,594,673 2,785,399 1,090,746 September 30, 2015 December 31, 2014 Accounts receivable allowance, beginning of period $ 101,079 $ 112,054 Provision adjustment during year 0 (10,975) Write-off 0 0 Accounts receivable allowance, end of period $ 101,079 $ 101,079 The allowance for doubtful accounts is $ 101,079 0

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	3. Stockholders’ Equity – Stock Repurchase Program On December 23, 2014, the Company’s Board of Directors approved the repurchase of its outstanding shares of up to $ 100,000 75,000 50,000 49,059 184,349 During the nine month period ended September 30, 2015, the Company repurchased and retired 50,000 44,000 120,849 122,000 1.01 7,500 1.18 11,500 1.18 22,420 102,849

Income Tax

Income Tax	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Tax – The Company accounts for income taxes by following the asset and liability approach to accounting for income taxes. Deferred tax assets and liabilities represent the future tax consequences of the differences between the financial statement carrying amounts of assets and liabilities versus the tax basis of assets and liabilities. Under this method, deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards. Deferred tax liabilities are recognized for taxable temporary differences. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The impact of the tax rate changes on deferred tax assets and liabilities is recognized in the year that the change is enacted. Management believes that any write-off not allowed for will not have a material impact on the Company's financial position. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. Based on its evaluation, it has concluded that there are no significant unrecognized tax positions. The Company’s evaluation was performed for the tax years ended December 31, 2012 through 2014, the tax years that remain subject to examination by major tax jurisdictions as of September 30, 2015. The Company does not believe there will be any material changes in its unrecognized tax positions over the next twelve months. The Company may from time to time be assessed interest or penalties by major tax jurisdictions, although any such assessments historically have been minimal and immaterial to its financial results. In accordance with current guidance, the Company classifies interest and penalties as income tax expense is incurred.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	5. Earnings (Loss) Per Share – The Company computes earnings (loss) per share under two different methods, basic and diluted, and presents per-share data for all periods in which statements of operations are presented. Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock and common stock equivalents outstanding. For the Three Months Ended For the Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Basic earnings per share calculation: Net income (loss) to common stockholders $ (170,873) $ 53,234 $ (278,494) $ 177,286 Weighted average number of common shares outstanding 4,573,759 4,782,305 4,615,812 4,777,690 Basic net income (loss) per share $ (0.04) $ 0.01 $ (0.06) $ 0.04 Diluted earnings per share calculation: Net income (loss) $ (170,873) $ 53,234 $ (278,494) $ 177,286 Weighted average number of common shares outstanding 4,573,759 4,782,305 4,615,812 4,777,690 Common stock equivalents: Stock options (a) (b) (a) (b) Weighted average diluted shares outstanding 4,573,759 4,782,305 4,615,812 4,777,690 Diluted net income (loss) per share $ (0.04) $ 0.01 $ (0.06) $ 0.04 Stock options outstanding of (a) 10,000 60,000

Foreign Currency Exchange Rate

Foreign Currency Exchange Rate Risk	9 Months Ended
	Sep. 30, 2015
Foreign Currency [Abstract]
Foreign Currency Disclosure [Text Block]	6. Foreign Currency Exchange Rate Risk The Company is exposed to foreign currency risks that arise from some of its foreign customers in Colombia, transacted in Colombia Pesos. In addition, exchange rate fluctuations may cause our international results to fluctuate when translated into U.S. dollars. These risks may change over time as business practices evolve and could have an impact on the Company’s financial results in the future. The Company monitors its risk associated with the volatility of certain foreign currencies against U.S. dollars.

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	7. Commitment and Contingencies During 2015, the Company entered into an Agreement with a contractor to design and execute on a sales and marketing strategy for the Company in key Latin American and Caribbean gaming jurisdictions. The Agreement expires July 14, 2016 unless terminated earlier in accordance with the terms of the Agreement. The remaining commitment as of September 30, 2015 is approximately $ 59,000

Nature of Business and Summar13

Nature of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	Basis of Presentation The accompanying unaudited condensed financial statements of Table Trac, Inc. (the “Company,” or “Table Trac”) have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. The balance sheet as of September 30, 2015 and the statements of operations for the three and nine months ended September 30, 2015 and 2014, and the statement of cash flows for the nine months ending September 30, 2015 and 2014 are unaudited but include all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the financial position at such date and the operating results and cash flows for those periods. Certain information normally included in financial statements and related footnotes prepared in accordance with generally accepted accounting principles has been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. The accompanying financial statements should be read in conjunction with the financial statements and notes included in the Table Trac Annual Report on Form 10-K for the year ended December 31, 2014.
Business Description and Accounting Policies [Text Block]	Nature of Business Table Trac was formed under the laws of the State of Nevada in June 1995. The Company has its offices in Minnetonka, Minnesota. The Company has developed and sells an information and management system that automates and monitors various aspects of the operations of casinos. Table Trac provides system sales and technical support to casinos. System sales include installation, custom casino system configuration, and training. In addition, license and technical support are provided under separate license and service contracts.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with U.S. 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 reporting period. The Company uses estimates and assumptions in accounting for the following significant matters, among others: revenue recognition, realizability of accounts receivable, the valuation of deferred tax assets and liabilities, deferred revenue and costs, and other contingencies. Actual results could differ from those estimates.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company derives revenues from the sales of systems, licenses and maintenance fees, and services, and rental agreements. System Sales Revenue from systems that have been demonstrated to meet customer specifications during installation is recognized when evidence of an arrangement exists, the product has been installed, title and risk of loss have transferred to the customer and collection of the resulting receivable is reasonably assured. System sales, which are accounted for as multiple-element arrangements, include multiple products and/or services. For multiple-element arrangements the Company allocates the revenue to each element based on their relative fair estimated value based on vendor specific objective evidence (VSOE) and recognizes the associated revenue when all revenue recognition criteria have been met for each element. If there are contracts the Company does not have VSOE, or third party evidence of fair value of all elements, an estimated selling price model is used to allocate revenue to delivered elements. The Company does offer its customers contracts with extended payment terms. The Company must evaluate if any extended payment terms in the contract is an indicator of the revenue not being fixed or determinable. Provided all other revenue recognition criteria have been satisfied, the Company recognizes the revenue if payment of a significant portion of the systems sales is due within 12 months of the delivery of the product. The Company also analyzes its standard business practice of using long-term contracts and the history of collecting on extended payment term contracts without making concessions for determining if revenue should be recognized. Revenue and associated costs of sales are deferred if contract terms exceed historical collection results or if a substantial portion of the contract is not due within 12 months after delivery of the product. The Company analyzes each contract for proper revenue recognition based on that contract’s facts and circumstances. Interest is recorded upon receipt to “other income” on the statements of operations. Maintenance revenue Maintenance revenue is recognized ratably over the contract period. The VSOE for maintenance is based upon the renewal rate for contracted services. Service revenue Service revenue is recognized after the services are performed and collection of the resulting receivable is reasonably assured. The VSOE for service revenue is established based upon the price determined by management having the relative authority when the element is not yet sold separately for the services. Rental revenue The Company may offer customers a rental contract. Revenues are billed monthly on a per-game per-day basis. There is an option to purchase the system after the rental contract expires at a pre-determined residual value.
Deferred System Sales Costs [Policy Text Block]	Deferred System Sales Costs Deferred system sales costs consist of installed system costs incurred on participation-based contracts. These costs are recognized on a straight-line basis over the term of the contract which is generally 18-48 months beginning when revenues are generated. At the end of the contract period, the customer will usually receive title to the system.
Trade and Other Accounts Receivable, Policy [Policy Text Block]	Accounts Receivable / Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amount. Accounts receivable include regular customer receivables and amounts from financed contracts coming due within 12 months. Amounts from financed contracts due beyond 12 months are recorded as "long-term accounts receivable – financed contracts." Interest is recorded upon receipt to other income on the statements of operations. An allowance for doubtful accounts is recorded when the Company believes the amounts may not be collected. Management believes that receivables, net of the allowance for doubtful accounts, are fully collectible. While the ultimate result may differ, management believes that any write-off not allowed for will not have a material impact on the Company's financial position.
Major Customers, Policy [Policy Text Block]	Major Customers For the Nine Months Ended September 30 2015 2014 % Sales % AR % Sales % AR A 3.6 % 0.8 % 6.3 % 6.3 % B 6.2 % 6.5 % 4.6 % 16.2 % C 2.6 % 2.8 % 17.7 % 11.7 % D 5.0 % 0.1 % 10.9 % 0.0 % E 1.9 % 0.6 % 5.3 % 5.5 % F 0.9 % 0.0 % 4.5 % 2.2 % G 29.5 % 14.5 % 8.4 % 5.4 % H 4.4 % 34.7 % 0.0 % 0.0 % All Others 45.9 % 40.0 % 42.3 % 52.7 % Total 100.0 % 100.0 % 100.0 % 100.0 % For the Three Months Ended September 30 2015 2014 % Sales % Sales A 9.8 % 18.4 % B 8.2 % 6.4 % C 3.0 % 2.4 % D 3.4 % 6.7 % E 2.2 % 10.7 % F 1.0 % 10.2 % G 10.1 % 9.8 % H 11.6 % 0.0 % All Others 50.7 % 35.4 % Total 100.0 % 100.0 %
Inventory, Policy [Policy Text Block]	Inventory Inventory, consisting of finished goods, is stated at the lower of cost or market. The average cost method, which approximates the first in, first out method, is used to value inventory. Inventory is reviewed annually for the lower of cost or market and obsolescence. Any material cost found to be above market value or considered obsolete is written down accordingly. The inventory value as of September 30, 2015 was $ 867,916 20,679
Research and Development Expense, Policy [Policy Text Block]	Research and Development The Company expenses all costs related to research and development as incurred. Research and development expense was $ 5,108 6,536 17,668 17,117
New Accounting Pronouncements, Policy [Policy Text Block]	Accounting Pronouncement In May 2014, and amended in July 2015, the Financial Accounting Standards Board (FASB) issued guidance creating Accounting Standards Codification (“ASC”) Section 606, “Revenue from Contracts with Customers.” The new section will replace Section 605, “Revenue Recognition” and creates modifications to various other revenue accounting standards for specialized transactions and industries. The section is intended to conform revenue accounting principles to a concurrently issued International Financial Reporting Standards with previously differing treatment between United States practice and those of much of the rest of the world, as well as, to enhance disclosures related to disaggregated revenue information. The updated guidance is effective for annual reporting periods beginning on or after December 15, 2017, and interim periods within those annual periods. The Company will adopt the new provisions of this accounting standard at the beginning of 2018. The Company will further study the implications of this statement in order to evaluate the expected impact on its financial statements.

Nature of Business and Summar14

Nature of Business and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Revenue from External Customers by Geographic Areas [Table Text Block]	The following tables summarize major customer information for the nine and three months ended September 30, 2015 and 2014: For the Nine Months Ended September 30 2015 2014 % Sales % AR % Sales % AR A 3.6 % 0.8 % 6.3 % 6.3 % B 6.2 % 6.5 % 4.6 % 16.2 % C 2.6 % 2.8 % 17.7 % 11.7 % D 5.0 % 0.1 % 10.9 % 0.0 % E 1.9 % 0.6 % 5.3 % 5.5 % F 0.9 % 0.0 % 4.5 % 2.2 % G 29.5 % 14.5 % 8.4 % 5.4 % H 4.4 % 34.7 % 0.0 % 0.0 % All Others 45.9 % 40.0 % 42.3 % 52.7 % Total 100.0 % 100.0 % 100.0 % 100.0 % For the Three Months Ended September 30 2015 2014 % Sales % Sales A 9.8 % 18.4 % B 8.2 % 6.4 % C 3.0 % 2.4 % D 3.4 % 6.7 % E 2.2 % 10.7 % F 1.0 % 10.2 % G 10.1 % 9.8 % H 11.6 % 0.0 % All Others 50.7 % 35.4 % Total 100.0 % 100.0 %

Accounts Receivable (Tables)

Accounts Receivable (Tables)	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Accounts receivable consisted of the following at September 30, 2015 and December 31, 2014: September 30, 2015 December 31, 2014 Accounts receivable under normal 30 day terms $ 979,394 $ 1,406,665 Financed contracts: Short-term 0 22,754 Current portion of long-term 1,710,541 896,236 Long-term, net of current portion 1,807,526 675,683 Total accounts receivable 4,497,461 3,001,338 Less allowance for doubtful accounts (101,079) (101,079) Accounts receivable, net $ 4,396,382 $ 2,900,259 Presented on the balance sheet as: Accounts receivable, net $ 2,588,856 $ 2,224,576 Long-term accounts receivable - financed contracts 1,807,526 675,683
Schedule of Allowance Accounts Receivable [Table Text Block]	A roll-forward of the Company’s allowance for doubtful accounts is as follows: September 30, 2015 December 31, 2014 Accounts receivable allowance, beginning of period $ 101,079 $ 112,054 Provision adjustment during year 0 (10,975) Write-off 0 0 Accounts receivable allowance, end of period $ 101,079 $ 101,079

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Three Months Ended For the Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Basic earnings per share calculation: Net income (loss) to common stockholders $ (170,873) $ 53,234 $ (278,494) $ 177,286 Weighted average number of common shares outstanding 4,573,759 4,782,305 4,615,812 4,777,690 Basic net income (loss) per share $ (0.04) $ 0.01 $ (0.06) $ 0.04 Diluted earnings per share calculation: Net income (loss) $ (170,873) $ 53,234 $ (278,494) $ 177,286 Weighted average number of common shares outstanding 4,573,759 4,782,305 4,615,812 4,777,690 Common stock equivalents: Stock options (a) (b) (a) (b) Weighted average diluted shares outstanding 4,573,759 4,782,305 4,615,812 4,777,690 Diluted net income (loss) per share $ (0.04) $ 0.01 $ (0.06) $ 0.04 Stock options outstanding of (a) 10,000 60,000

Nature of Business and Summar17

Nature of Business and Summary of Significant Accounting Policies (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenue, Major Customer [Line Items]
% Sales and % AR	17.60%		15.80%
Sales Revenue, Net [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	100.00%	100.00%	100.00%	100.00%
Sales Revenue, Net [Member] | Customer A [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	9.80%	18.40%	3.60%	6.30%
Sales Revenue, Net [Member] | Customer B [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	8.20%	6.40%	6.20%	4.60%
Sales Revenue, Net [Member] | Customer C [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	3.00%	2.40%	2.60%	17.70%
Sales Revenue, Net [Member] | Customer D [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	3.40%	6.70%	5.00%	10.90%
Sales Revenue, Net [Member] | Customer E [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	2.20%	10.70%	1.90%	5.30%
Sales Revenue, Net [Member] | Customer F [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	1.00%	10.20%	0.90%	4.50%
Sales Revenue, Net [Member] | Customer G [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	10.10%	9.80%	29.50%	8.40%
Sales Revenue, Net [Member] | Customer H [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	11.60%	0.00%	4.40%	0.00%
Sales Revenue, Net [Member] | All Others [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	50.70%	35.40%	45.90%	42.30%
Accounts Receivable [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR			100.00%	100.00%
Accounts Receivable [Member] | Customer A [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR			0.80%	6.30%
Accounts Receivable [Member] | Customer B [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR			6.50%	16.20%
Accounts Receivable [Member] | Customer C [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR			2.80%	11.70%
Accounts Receivable [Member] | Customer D [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR			0.10%	0.00%
Accounts Receivable [Member] | Customer E [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR			0.60%	5.50%
Accounts Receivable [Member] | Customer F [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR			0.00%	2.20%
Accounts Receivable [Member] | Customer G [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR			14.50%	5.40%
Accounts Receivable [Member] | Customer H [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR			34.70%	0.00%
Accounts Receivable [Member] | All Others [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR			40.00%	52.70%

Nature of Business and Summar18

Nature of Business and Summary of Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Summary Of Significant Accounting Policies [Line Items]
Research and Development Expense	$ 5,108	$ 6,536	$ 17,668	$ 17,117
Inventory, Net, Total	867,916		867,916		$ 893,743
Inventory, Work in Process, Gross	$ 20,679		$ 20,679
Concentration Risk, Percentage	17.60%		15.80%

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable under normal 30 day terms	$ 979,394	$ 1,406,665
Financed contracts:
Short-term	0	22,754
Current portion of long-term	1,710,541	896,236
Long-term, net of current portion	1,807,526	675,683
Total accounts receivable	4,497,461	3,001,338
Less allowance for doubtful accounts	(101,079)	(101,079)
Accounts receivable, net	4,396,382	2,900,259
Presented on the balance sheet as:
Accounts receivable, net	2,588,856	2,224,576
Long-term accounts receivable - financed contracts	$ 1,807,526	$ 675,683

Accounts Receivable (Details 1)

Accounts Receivable (Details 1) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable allowance, beginning of period	$ 101,079	$ 112,054
Provision adjustment during year	0	(10,975)
Write-off	0	0
Accounts receivable allowance, end of period	$ 101,079	$ 101,079

Accounts Receivable (Details Te

Accounts Receivable (Details Textual) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for Doubtful Accounts Receivable, Current	$ 101,079	$ 101,079
Accounts Receivable, Net, Current, Total	2,588,856	2,224,576
Deferred Revenue, Noncurrent	2,785,399	1,090,746
Trade Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for Doubtful Accounts Receivable, Current	101,079	101,079
Financing Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for Doubtful Accounts Receivable, Current	0	0
Accounts Receivable, Net, Current, Total	$ 3,518,067	$ 1,594,673

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Aug. 31, 2015	Sep. 30, 2015	Sep. 30, 2015	Sep. 04, 2015	Mar. 17, 2015	Dec. 31, 2014	Dec. 23, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock, Shares		102,849	102,849			1,000
Stock Repurchase Program, Authorized Amount				$ 50,000	$ 75,000		$ 100,000
Stock Repurchased During Period, Shares		184,349
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 49,059	$ 49,059
Stock Repurchased and Retired During Period, Shares			50,000
Stock Repurchased and Retired During Period, Value			$ 44,000
Accelerated Share Repurchases, Final Price Paid Per Share			$ 0.88
Treasury Stock Acquired, Average Cost Per Share		$ 0.95	$ 0.88
Shares Issued, Price Per Share	$ 1.18
Stock Issued During Period, Shares, Treasury Stock Reissued	11,500
Deferred Bonus [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Salaries, Wages and Officers' Compensation, Total	$ 22,420
Treasury Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchased During Period, Shares			120,849
Treasury Stock, Value, Acquired, Cost Method			$ 122,000
Treasury Stock Acquired, Average Cost Per Share			$ 1.01
Shares Issued, Price Per Share	$ 1.18
Stock Issued During Period, Shares, Treasury Stock Reissued	7,500
Bonus Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock, Shares		102,849	102,849

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015		Sep. 30, 2014
Basic earnings per share calculation:
Net income (loss) to common stockholders	$ (170,873)		$ 53,234		$ (278,494)		$ 177,286
Weighted average number of common shares outstanding (in shares)	4,573,759		4,782,305		4,615,812		4,777,690
Basic net income (loss) per share (in dollars per share)	$ (0.04)		$ 0.01		$ (0.06)		$ 0.04
Diluted earnings per share calculation:
Net income (loss)	$ (170,873)		$ 53,234		$ (278,494)		$ 177,286
Weighted average number of common shares outstanding (in shares)	4,573,759		4,782,305		4,615,812		4,777,690
Common stock equivalents:
Stock options		[1]		[2]		[1]		[2]
Weighted average diluted shares outstanding (in shares)	4,573,759		4,782,305		4,615,812		4,777,690
Diluted net income (loss) per share (in dollars per share)	$ (0.04)		$ 0.01		$ (0.06)		$ 0.04
[1]	Stock options outstanding of 10,000 were not included in the calculation as the stock expense price is greater than the fair market price.
[2]	Stock options outstanding of 60,000 were not included in the calculation as the stock expense price is greater than the fair market price.

Earnings (Loss) Per Share (De24

Earnings (Loss) Per Share (Details Textual) - shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	10,000	60,000

Commitment and Contingencies (D

Commitment and Contingencies (Details Textual)	Sep. 30, 2015USD ($)
Other Commitments [Line Items]
Other Commitment, Total	$ 59,000