Table Trac (TBTC) 10-Q 16 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 10, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
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		4,525,265

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Mar. 31, 2016	Dec. 31, 2015
CURRENT ASSETS
Cash	$ 361,922	$ 289,105
Accounts receivable, net of allowance for doubtful accounts of $185,397 at March 31, 2016 and December 31, 2015	2,008,458	2,494,930
Inventory	793,273	656,137
Prepaid expenses and other current assets	240,207	88,180
Income taxes receivable	68,101	68,101
TOTAL CURRENT ASSETS	3,471,961	3,596,453
LONG-TERM ASSETS
Patent, net	1,297	1,638
Property and equipment, net	49,257	54,534
Other long-term assets	1,392,704	1,289,786
Deferred tax asset	284,000	331,000
Long-term accounts receivable - financed contracts	2,164,180	1,569,285
TOTAL LONG-TERM ASSETS	3,891,438	3,246,243
TOTAL ASSETS	7,363,399	6,842,696
CURRENT LIABILITIES
Accounts payable and accrued expenses	479,947	413,235
Payroll liabilities	44,275	29,444
Current portion of note payable	7,096	7,096
Deferred revenue - short-term	27,610	37,810
Deferred tax liability	681,000	797,000
TOTAL CURRENT LIABILITIES	1,239,928	1,284,585
LONG-TERM LIABILITIES
Note payable, net of current portion	24,185	26,215
Deferred revenue - long-term	3,597,535	2,890,467
TOTAL LIABILITIES	4,861,648	4,201,267
STOCKHOLDERS' EQUITY
Common stock, $0.001 par value; 25,000,000 shares authorized: 4,656,734 shares issued, and 4,530,765 and 4,533,265 shares outstanding at March 31, 2016 and December 31, 2015 respectively	4,532	4,534
Additional paid-in capital	1,806,144	1,806,526
Retained earnings	817,057	953,911
Stockholders' Equity before Treasury Stock	2,627,733	2,764,971
Treasury stock, 125,969 shares (at cost) at March 31, 2016 and 123,469 at December 31, 2015, respectively	(125,982)	(123,542)
TOTAL STOCKHOLDERS’ EQUITY	2,501,751	2,641,429
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 7,363,399	$ 6,842,696

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Allowance for doubtful accounts (in dollars)	$ 185,397	$ 185,397
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	4,656,734	4,656,734
Common stock, shares outstanding	4,530,765	4,533,265
Treasury stock, shares	125,969	123,469

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues	$ 939,371	$ 1,347,484
Cost of sales	99,586	400,524
Gross profit	839,785	946,960
Operating Expenses:
Selling, general and administrative	1,051,495	819,386
Income (loss) from operations	(211,710)	127,574
Loss on currency exchange	(13,694)	0
Interest income	19,550	7,588
Income (loss) before taxes	(205,854)	135,162
Income tax expense (benefit)	(69,000)	48,000
Net income (loss)	$ (136,854)	$ 87,162
Net income (loss) per share - basic and diluted (in dollar per share)	$ (0.03)	$ 0.02
Weighted-average shares outstanding - basic and diluted (in shares)	4,525,710	4,660,109

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOW - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
OPERATING ACTIVITIES
Net income (loss)	$ (136,854)	$ 87,162
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	5,618	1,061
Deferred income taxes	(69,000)	24,000
Stock issued for services	6,375	0
Changes in operating assets and liabilities:
Accounts receivable	(108,423)	(213,653)
Inventory	(137,136)	99,651
Prepaid expenses and other assets	(254,944)	32,581
Accounts payable and accrued expenses	66,712	93,955
Payroll liabilities	14,831	1,208
Deferred revenue	696,868	(139,315)
Income taxes receivable	0	(145,405)
Net cash provided by (used in) operating activities	84,047	(158,755)
INVESTING ACTIVITIES
Capital expenditures	0	(3,250)
Net cash used in investing activities	0	(3,250)
FINANCING ACTIVITIES
Payments on note payable	(2,030)	0
Repurchase of common stock	(9,200)	(88,993)
Net cash used in financing activities	(11,230)	(88,993)
NET INCREASE (DECREASE) IN CASH	72,817	(250,998)
CASH
Beginning of year	289,105	1,208,201
End of year	361,922	957,203
Supplemental disclosure of cash flow information:
Cash paid for income taxes	$ 0	$ (150,000)

Nature of Business and Summary

Nature of Business and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and the statements of operations for the three months ended March 31, 2016 and 2015, and the statement of cash flows for the three months ending March 31, 2016 and 2015 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, 2015. 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, the 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. 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 delivered, 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 the hierarchy of estimated selling price for the deliverables. The selling price for each deliverable will be based on vendor specific objective evidence (VSOE), Third Party Evidence (“TPE”) if VSOE is not available, or estimated selling price if neither VSOE nor TPE is available. The Company 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 TPE of all elements, the Company would follow the selling price hierarchy to allocate arrangement consideration. 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 actual selling prices 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. These costs are included in other long-term assets on the balance sheet. Accounts receivable are recorded at the invoiced amount. Accounts receivable are recorded at net realizable value, which includes foreign currency translation as of each balance sheet date. Accounts receivable include unsecured regular customer receivables and unsecured 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. Accounts receivable are written off when management determines collection is no longer likely. 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 Three Months Ended March 31 2016 2015 % Sales % AR % Sales % AR A 8.3 % 5.8 % 51.6 % 21.3 % B 2.6 % 0.4 % 1.8 % 11.5 % C 6.0 % 5.5 % 4.1 % 13.9 % D 10.1 % 9.8 % 7.0 % 3.0 % E 17.8 % 30.1 % 0.0 % 0.0 % All Others 55.2 % 48.4 % 35.5 % 50.3 % Total 100.0 % 100.0 % 100.0 % 100.0 % The Company does derive a portion of its revenue from foreign customers. For the three month periods ending March 31, 2016 and 2015, sales to customers in South America represent 16.8 11.7 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 March 31, 2016 was $ 793,273 109,417 The Company expenses all costs related to research and development as incurred. Research and development expense was $ 3,865 11,282

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Accounts Receivable [Text Block]	2. Accounts Receivable – Accounts receivable consisted of the following at: March 31, 2016 December 31, 2015 Accounts receivable under normal 30 day terms $ 513,886 $ 664,938 Financed contracts: Current portion of long-term 1,679,969 2,015,389 Long-term, net of current portion 2,164,180 1,569,285 Total accounts receivable 4,358,035 4,249,612 Less allowance for doubtful accounts (185,397) (185,397) Accounts receivable, net $ 4,172,638 $ 4,064,215 Presented on the balance sheet as: Accounts receivable, net $ 2,008,458 $ 2,494,930 Long-term accounts receivable - financed contracts 2,164,180 1,569,285 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 March 31, 2016 and December 31, 2015 which are $ 3,844,149 3,584,674 3,597,535 2,890,467 A roll-forward of the Company’s allowance for doubtful accounts is as follows: March 31, 2016 December 31, 2015 Accounts receivable allowance, beginning of year $ 185,397 $ 101,079 Provision adjustment during period 0 84,318 Write-off 0 0 Accounts receivable allowance, end of period $ 185,397 $ 185,397 The allowance for doubtful accounts is $ 185,397 0

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
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 23,955 213,969 During the three month period ended March 31, 2016, the Company repurchased 10,000 9,200 7,500 6,375 125,969

Income Tax

Income Tax	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	4. 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, the Company believes that it has no significant unrecognized tax positions. The Company’s evaluation was performed for the tax years ended December 31, 2012 through 2015, which are the tax years that remain subject to examination by major tax jurisdictions as of March 31, 2016. The Company does not believe there will be any material changes in its unrecognized tax positions over the next 12 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	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 2015 Basic and diluted earnings per share calculation: Net income (loss) to common stockholders $ (136,854) $ 87,162 Weighted average number of common shares outstanding 4,525,710 4,660,109 Basic and diluted net income (loss) per share $ (0.03) $ 0.02 The Company has no common stock equivalents outstanding as of March 31, 2016 or March 31, 2015.

Foreign Currency Exchange Rate

Foreign Currency Exchange Rate Risk	3 Months Ended
	Mar. 31, 2016
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 due to the long term nature of the Company’s accounts receivable in Colombia, which totaled approximately $ 411,000

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 is approximately $ 22,000

Nature of Business and Summar13

Nature of Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and the statements of operations for the three months ended March 31, 2016 and 2015, and the statement of cash flows for the three months ending March 31, 2016 and 2015 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, 2015.
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, the 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. 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 delivered, 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 the hierarchy of estimated selling price for the deliverables. The selling price for each deliverable will be based on vendor specific objective evidence (VSOE), Third Party Evidence (“TPE”) if VSOE is not available, or estimated selling price if neither VSOE nor TPE is available. The Company 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 TPE of all elements, the Company would follow the selling price hierarchy to allocate arrangement consideration. 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 actual selling prices 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. These costs are included in other long-term assets on the balance sheet.
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]	Accounts Receivable / Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amount. Accounts receivable are recorded at net realizable value, which includes foreign currency translation as of each balance sheet date. Accounts receivable include unsecured regular customer receivables and unsecured 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. Accounts receivable are written off when management determines collection is no longer likely. 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 Three Months Ended March 31 2016 2015 % Sales % AR % Sales % AR A 8.3 % 5.8 % 51.6 % 21.3 % B 2.6 % 0.4 % 1.8 % 11.5 % C 6.0 % 5.5 % 4.1 % 13.9 % D 10.1 % 9.8 % 7.0 % 3.0 % E 17.8 % 30.1 % 0.0 % 0.0 % All Others 55.2 % 48.4 % 35.5 % 50.3 % Total 100.0 % 100.0 % 100.0 % 100.0 % The Company does derive a portion of its revenue from foreign customers. For the three month periods ending March 31, 2016 and 2015, sales to customers in South America represent 16.8 11.7
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 March 31, 2016 was $ 793,273 109,417
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 $ 3,865 11,282

Nature of Business and Summar14

Nature of Business and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Revenue from External Customers by Geographic Areas [Table Text Block]	The following tables summarize major customer information for the three months ended March 31, 2016 and 2015: For the Three Months Ended March 31 2016 2015 % Sales % AR % Sales % AR A 8.3 % 5.8 % 51.6 % 21.3 % B 2.6 % 0.4 % 1.8 % 11.5 % C 6.0 % 5.5 % 4.1 % 13.9 % D 10.1 % 9.8 % 7.0 % 3.0 % E 17.8 % 30.1 % 0.0 % 0.0 % All Others 55.2 % 48.4 % 35.5 % 50.3 % Total 100.0 % 100.0 % 100.0 % 100.0 %

Accounts Receivable (Tables)

Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Accounts receivable consisted of the following at: March 31, 2016 December 31, 2015 Accounts receivable under normal 30 day terms $ 513,886 $ 664,938 Financed contracts: Current portion of long-term 1,679,969 2,015,389 Long-term, net of current portion 2,164,180 1,569,285 Total accounts receivable 4,358,035 4,249,612 Less allowance for doubtful accounts (185,397) (185,397) Accounts receivable, net $ 4,172,638 $ 4,064,215 Presented on the balance sheet as: Accounts receivable, net $ 2,008,458 $ 2,494,930 Long-term accounts receivable - financed contracts 2,164,180 1,569,285
Schedule of Allowance Accounts Receivable [Table Text Block]	A roll-forward of the Company’s allowance for doubtful accounts is as follows: March 31, 2016 December 31, 2015 Accounts receivable allowance, beginning of year $ 185,397 $ 101,079 Provision adjustment during period 0 84,318 Write-off 0 0 Accounts receivable allowance, end of period $ 185,397 $ 185,397

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted loss per share for the three months ended March 31, 2016 and 2015: For the Three Months Ended March 31, 2016 2015 Basic and diluted earnings per share calculation: Net income (loss) to common stockholders $ (136,854) $ 87,162 Weighted average number of common shares outstanding 4,525,710 4,660,109 Basic and diluted net income (loss) per share $ (0.03) $ 0.02

Nature of Business and Summar17

Nature of Business and Summary of Significant Accounting Policies (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue, Major Customer [Line Items]
% Sales and % AR	16.80%	11.70%
Sales Revenue, Net [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	100.00%	100.00%
Sales Revenue, Net [Member] | Customer A [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	8.30%	51.60%
Sales Revenue, Net [Member] | Customer B [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	2.60%	1.80%
Sales Revenue, Net [Member] | Customer C [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	6.00%	4.10%
Sales Revenue, Net [Member] | Customer D [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	10.10%	7.00%
Sales Revenue, Net [Member] | Customer E [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	17.80%	0.00%
Sales Revenue, Net [Member] | All Others [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	55.20%	35.50%
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	5.80%	21.30%
Accounts Receivable [Member] | Customer B [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	0.40%	11.50%
Accounts Receivable [Member] | Customer C [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	5.50%	13.90%
Accounts Receivable [Member] | Customer D [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	9.80%	3.00%
Accounts Receivable [Member] | Customer E [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	30.10%	0.00%
Accounts Receivable [Member] | All Others [Member]
Revenue, Major Customer [Line Items]
% Sales and % AR	48.40%	50.30%

Nature of Business and Summar18

Nature of Business and Summary of Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Summary Of Significant Accounting Policies [Line Items]
Research and Development Expense	$ 3,865	$ 11,282
Inventory, Net, Total	793,273		$ 656,137
Inventory, Work in Process, Gross	$ 109,417
Concentration Risk, Percentage	16.80%	11.70%

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable under normal 30 day terms	$ 513,886	$ 664,938
Financed contracts:
Current portion of long-term	1,679,969	2,015,389
Long-term, net of current portion	2,164,180	1,569,285
Total accounts receivable	4,358,035	4,249,612
Less allowance for doubtful accounts	(185,397)	(185,397)
Accounts receivable, net	4,172,638	4,064,215
Presented on the balance sheet as:
Accounts receivable, net	2,008,458	2,494,930
Long-term accounts receivable - financed contracts	$ 2,164,180	$ 1,569,285

Accounts Receivable (Details 1)

Accounts Receivable (Details 1) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable allowance, beginning of period	$ 185,397	$ 101,079
Provision adjustment during period	0	84,318
Write-off	0	0
Accounts receivable allowance, end of period	$ 185,397	$ 185,397

Accounts Receivable (Details Te

Accounts Receivable (Details Textual) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for Doubtful Accounts Receivable, Current	$ 185,397	$ 185,397
Accounts Receivable, Net, Current, Total	2,008,458	2,494,930
Deferred Revenue, Noncurrent	3,597,535	2,890,467
Financing Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for Doubtful Accounts Receivable, Current	0
Accounts Receivable, Net, Current, Total	$ 3,844,149	$ 3,584,674

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Sep. 04, 2015	Mar. 17, 2015	Dec. 23, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock, Shares	125,969	123,469
Stock Repurchased During Period Price Per Share	$ 0.92
Treasury Stock Acquired, Average Cost Per Share	$ 0.94
Stock Repurchased During Period, Shares	10,000
Stock Repurchased During Period, Value	$ 9,200
Deferred Bonus [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Salaries, Wages and Officers' Compensation, Total		$ 6,375
Treasury Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Issued, Price Per Share	$ 0.85
Stock Issued During Period, Shares, Treasury Stock Reissued	7,500
Stock Repurchase Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchase Program, Authorized Amount			$ 50,000	$ 75,000	$ 100,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 23,955
Stock Repurchased During Period, Shares	213,969
Bonus Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock, Shares	125,969

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Basic and diluted earnings per share calculation:
Net income (loss) to common stockholders	$ (136,854)	$ 87,162
Weighted average number of common shares outstanding	4,525,710	4,660,109
Basic and diluted net income (loss) per share	$ (0.03)	$ 0.02

Foreign Currency Exchange Rat24

Foreign Currency Exchange Rate Risk (Details Textual) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Noncurrent	$ 2,164,180	$ 1,569,285
Columbia [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Noncurrent	$ 411,000

Commitment and Contingencies (D

Commitment and Contingencies (Details Textual)	Mar. 31, 2016USD ($)
Other Commitments [Line Items]
Other Commitment, Total	$ 22,000