ERBA Diagnostics (ERB) 10-Q 5 Aug 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 04, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	ERBA Diagnostics, Inc.
Trading Symbol	ERB
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		44,086,009
Amendment Flag	false
Entity Central Index Key	1,095,858
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents	$ 1,596,381	$ 2,548,295
Accounts receivable, net	5,714,864	6,414,895
Inventories, net	8,365,167	6,999,335
Related party receivables	1,155,839	1,489,461
Other current assets	1,510,725	1,029,982
Assets held for sale	352,957
Total current assets	18,695,933	18,481,968
PROPERTY, PLANT AND EQUIPMENT:
Land		352,957
Buildings and improvements	1,845,557	3,794,422
Machinery and equipment	4,148,079	4,063,424
Furniture and fixtures	1,995,542	2,048,813
	7,989,178	10,259,616
Less: accumulated depreciation	(6,369,568)	(8,276,970)
Property, plant and equipment, net	1,619,610	1,982,646
OTHER LONG-TERM ASSETS:
Intangible assets, net	1,013,555	1,165,325
Goodwill	3,494,619	3,494,619
Equipment on lease, net	503,675	573,293
Product license	141,468	169,762
Restricted deposits	278,892	311,516
Other assets	15,139	16,656
Total other long-term assets	5,447,348	5,731,171
Total assets	25,762,891	26,195,785
CURRENT LIABILITIES:
Accounts payable	2,567,150	2,399,874
Revolving line of credit	3,494,661	1,939,661
Other accrued expenses	1,664,870	2,009,661
Total current liabilities	7,726,681	6,349,196
OTHER LONG-TERM LIABILITIES:
Deferred tax liabilities	679,342	644,948
Other long-term liabilities	872,396	985,513
Total other long-term liabilities	1,551,738	1,630,461
Total liabilities	$ 9,278,419	$ 7,979,657
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Preferred stock, par value $0.01, authorized 5,000,000 shares, none issued and outstanding in 2015 and 2014
Common stock, par value $0.01, authorized 100,000,000 shares, issued and outstanding 44,086,009 at June 30, 2015 and December 31, 2014	$ 440,860	$ 440,860
Additional paid-in capital	53,586,808	53,540,057
Accumulated deficit	(36,983,802)	(35,411,738)
Accumulated other comprehensive loss	(559,394)	(353,051)
Total shareholders’ equity	16,484,472	18,216,128
Total liabilities and shareholders’ equity	$ 25,762,891	$ 26,195,785

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, authorized	100,000,000	100,000,000
Common stock, issued	44,086,009	44,086,009
Common stock, outstanding	44,086,009	44,086,009

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
NET REVENUE	$ 5,945,670	$ 7,540,657	$ 10,798,746	$ 13,911,769
COST OF SALES	3,304,716	3,976,247	6,057,087	7,478,210
Gross profit	2,640,954	3,564,410	4,741,659	6,433,559
OPERATING EXPENSES:
Selling	981,754	1,034,029	1,847,930	2,052,610
General and administrative	1,929,588	1,603,759	3,637,534	3,001,837
Research and development	160,965	372,652	361,250	575,895
Total operating expenses	3,072,307	3,010,440	5,846,714	5,630,342
(Loss) Income from operations	(431,353)	553,970	(1,105,055)	803,217
OTHER INCOME (EXPENSE), NET:
Interest expense	(71,953)	(11,952)	(128,525)	(21,512)
Unrealized gain (loss) on foreign currency transactions	151,272	(16,178)	(65,344)	(14,204)
Other expense, net	(173,715)	(45,890)	(218,436)	(93,776)
Total other (expense) income, net	(94,396)	(74,020)	(412,305)	(129,492)
Income (loss) before provision for income taxes	(525,749)	479,950	(1,517,360)	673,725
PROVISION FOR INCOME TAXES	(27,352)	(29,514)	(54,704)	(59,043)
Net income (loss)	(553,101)	450,436	(1,572,064)	614,682
OTHER COMPREHENSIVE INCOME (LOSS):
Foreign currency translation adjustment	47,923	141,324	(206,343)	119,013
Total comprehensive income (loss)	$ (505,178)	$ 591,760	$ (1,778,407)	$ 733,695
NET INCOME (LOSS) PER SHARE – Basic (in Dollars per share)	$ (0.01)	$ 0.01	$ (0.04)	$ 0.02
NET INCOME (LOSS) PER SHARE – Diluted (in Dollars per share)	$ (0.01)	$ 0.01	$ (0.04)	$ 0.01
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic (in Shares)	44,086,009	43,806,554	44,086,009	43,781,277
Diluted (in Shares)	44,086,009	54,431,579	44,086,009	54,346,301

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Shareholders’ Equity (Unaudited) - 6 months ended Jun. 30, 2015 - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balances as of December 31, 2014 at Dec. 31, 2014	$ 440,860	$ 53,540,057	$ (35,411,738)	$ (353,051)	$ 18,216,128
Balances as of December 31, 2014 (in Shares) at Dec. 31, 2014	44,086,009
Stock compensation expense		46,751			46,751
Net loss			(1,572,064)		(1,572,064)
Foreign currency translation adjustment				(206,343)	(206,343)
Balances as of June 30, 2015 at Jun. 30, 2015	$ 440,860	$ 53,586,808	$ (36,983,802)	$ (559,394)	$ 16,484,472
Balances as of June 30, 2015 (in Shares) at Jun. 30, 2015	44,086,009

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (1,572,064)	$ 614,682
Adjustments to reconcile net (loss) income to net cash used in operating activities-
Depreciation and amortization	538,125	507,629
Reduction in allowance for doubtful accounts receivable	(7,262)	(168,626)
Deferred income tax provision	34,394	34,394
Non-cash compensation	46,751	47,403
Changes in operating assets and liabilities:
Accounts receivable	248,696	(1,135,192)
Inventories	(1,259,191)	(1,110,009)
Other current assets	(572,623)	(100,541)
Related party receivables	(59,500)	(346,466)
Accounts payable and accrued expenses	468,749	647,233
Other long-term liabilities	(21,737)	45,839
Net cash used in operating activities	(2,155,662)	(963,654)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(249,711)	(232,044)
Restricted deposits	32,624
Acquisition of equipment on lease, net	(122,208)	(113,676)
Net cash used in investing activities	(339,295)	(345,720)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments under revolving line of credit		(11,941)
Borrowings under revolving line of credit	1,555,000
Proceeds from stock option exercises		168,250
Net cash provided by financing activities	1,555,000	156,309
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(11,957)	(171,259)
NET CHANGE IN CASH AND CASH EQUIVALENTS	(951,914)	(1,324,324)
CASH AND CASH EQUIVALENTS, beginning of period	2,548,295	4,031,071
CASH AND CASH EQUIVALENTS, end of period	1,596,381	2,706,748
SUPPLEMENTAL DISCLOSURES:
Income taxes paid		6,794
Interest paid	$ 105,067	$ 15,557

Note 1 - Organization and Opera

Note 1 - Organization and Operations	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Business Description and Basis of Presentation [Text Block]	(1) ORGANIZATION AND OPERATIONS: General Information The accompanying unaudited interim condensed consolidated financial statements of ERBA Diagnostics, Inc. (the “Company,” “ERBA Diagnostics,” “we,” “us” or “our”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission for reporting on Form 10-Q and, therefore, do not include all information normally included in audited financial statements. However, in the opinion of management, all adjustments necessary to state fairly the results of operations, financial position, changes in stockholders’ equity and cash flows have been made. The results of operations, financial position, changes in stockholders’ equity and cash flows for the three and six months ended June 30, 2015 are not necessarily indicative of the results of operations, financial position, and changes in stockholders’ equity and cash flows which may be reported for the remainder of 2015. The consolidated balance sheet as of December 31, 2014 was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes to consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. The Company is a Delaware corporation and, through its subsidiaries, is engaged in developing, manufacturing and marketing diagnostic test kits, reagents and instruments for use in hospitals, reference laboratories, clinical laboratories, research laboratories, doctors' offices and other commercial companies. The Company’s products and instrumentation are sold to customers globally. On September 1, 2010, ERBA Diagnostics Mannheim GmbH, an in vitro diagnostics company headquartered in Germany (“ERBA Mannheim”), the parent company of which is Transasia Bio-Medicals Ltd. (“Transasia”), purchased all of the approximately 72.4% of the outstanding shares of the Company’s common stock then owned by the Debregeas-Kennedy Group for an aggregate purchase price of approximately $15,000,000, or $0.75 per share. As a result of this share acquisition, the consummation of the various transactions contemplated by the investment made by ERBA Mannheim pursuant to that certain Stock Purchase Agreement, as further described below, including ERBA Mannheim’s purchase from the Company, and the Company’s issuance to ERBA Mannheim, of an aggregate of 15,333,334 shares of the Company’s common stock, and ERBA Mannheim’s exercise, in part, of the Warrant, as further described below, for 600,000 shares of the Company’s common stock, ERBA Mannheim now beneficially owns, directly or indirectly, approximately 81.6% of the outstanding shares of the Company’s common stock.

Note 2 - Liquidity

Note 2 - Liquidity	6 Months Ended
	Jun. 30, 2015
Liquidity Disclosures [Abstract]
Liquidity Disclosures [Text Block]	(2) LIQUIDITY: The Company incurred a net loss of approximately $1,572,000 during the six months ended June 30, 2015 and achieved net income of $615,000 during the six months ended June 30, 2014 and had cash used in operations of approximately $2,156,000 and approximately $964,000 for those respective periods. As discussed in Note 13, Revolving Line of Credit the Company entered into a new Business Loan Agreement and Promissory Note with Citibank, N.A. (“Citibank”), which provides for a secured, revolving credit facility of up to $3,500,000 (the “New Citibank Line of Credit”) which becomes due and payable on February 29, 2016.

Note 3 - Stock-based Compensati

Note 3 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	(3) STOCK-BASED COMPENSATION : Valuations are based upon highly subjective assumptions about the future, including stock price volatility and exercise patterns. The fair value of share-based payment awards was estimated using the Black-Scholes option pricing model. Expected volatilities are based on the historical volatility of the Company’s stock. The Company uses historical data to estimate option exercise and employee terminations. The expected term of options granted represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. The Company has historically granted options under the Company’s option plans with an option exercise price equal to the closing market value of the stock on the date of the grant and with vesting, primarily for Company employees, ranging from all at once to equal annual amounts over a four year period, and, primarily for non-employee directors, immediately. During the six months ended June 30, 2015, there were no stock option exercises. Stock compensation expense for the three and six months ended June 30, 2015 was approximately $35,000 and $46,800, respectively. There was stock compensation expense of approximately $47,000 for both the three and six months ended June 30, 2014. The following table summarizes the stock option activity as of June 30, 2015: Number of Shares Weighted Average Exercise Price Balance as of December 31, 2014 808,082 $1.59 Stock options granted 115,000 $3.03 Stock options forfeited (20,000) $1.63 Balance as of June 30, 2015 903,082 $1.75

Note 4 - Cash and Cash Equivale

Note 4 - Cash and Cash Equivalents	6 Months Ended
	Jun. 30, 2015
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents Disclosure [Text Block]	(4 ) CASH AND CASH EQUIVALENTS: The Company considers certain short-term investments in money market accounts with original maturities of three months or less to be cash equivalents.

Note 5 - Accounts Receivable an

Note 5 - Accounts Receivable and Allowance for Doubtful Accounts	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	(5) ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS: The Company grants credit without collateral to its customers based on the Company’s evaluation of a particular customer’s credit worthiness. In addition, allowances for doubtful accounts are maintained, particularly in Italy where payment cycles are longer than in the United States and in some instances may take in excess of a year to collect, for potential credit losses based on the age of the accounts receivable and the results of the Company’s periodic credit evaluations of its customers’ financial condition. Accounts receivable are written off after collection efforts have been followed in accordance with the Company’s policies. Accounts written off as uncollectible are deducted from the allowance for doubtful accounts, while subsequent recoveries are netted against provision for doubtful accounts expense. The Company generally does not charge interest on accounts receivable. The Company periodically receives payments based upon negotiated agreements with governmental regions in Italy, acting on behalf of hospitals located in the region, in satisfaction of previously outstanding accounts receivable balances. The Company may have anticipated collection of these amounts through a payment as described above and, therefore, not provided an allowance for doubtful accounts for these amounts. Future payments by governmental regions in Italy are possible and, as a result, the Company may consider the potential receipt of those payments in determining its allowance for doubtful accounts. If contemplated payments are not received when expected or at all, or if negotiated agreements are not complied with in a timely manner or cancelled, then the Company may provide additional allowances for doubtful accounts. Accounts receivable, net, consisted of the following: June 30, 2015 December 31, 2014 (unaudited) Accounts receivable $ 6,499,989 $ 7,352,473 Less: allowance for doubtful accounts (785,125 ) (937,578 ) Accounts receivable, net $ 5,714,864 $ 6,414,895

Note 6 - Inventories, Net

Note 6 - Inventories, Net	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	( 6 ) INVENTORIES, NET : Inventories, net consist of the following: June 30, December 31, 2015 2014 (unaudited) Raw materials $ 4,476,371 $ 3,292,215 Work-in-process 821,861 1,215,178 Finished goods 3,066,935 2,491,942 Total inventories, net $ 8,365,167 $ 6,999,335

Note 7 - Income (Loss) Per Shar

Note 7 - Income (Loss) Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	( 7 ) INCOME ( L OSS) PER SHARE: Basic income (loss) per share excludes any dilution. It is based upon the weighted average number of shares of common stock outstanding during the period. Diluted income (loss) per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock. As of June 30, 2015 and 2014, 15,636,416 and 150,000 shares of common stock, respectively, underlying stock options and warrants were not included in computing diluted income per share because their effects would be anti-dilutive.

Note 8 - Income Taxes

Note 8 - Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	(8) INCOME TAXES: The provision for income taxes consists of the following for the three and six months ended June 30, 2015 and 2014: Three Months Six Months June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Current: Foreign $ (10,155 ) $ (12,317 ) $ (20,310 ) $ (24,649 ) Deferred: Domestic (17,197 ) (17,197 ) (34,394 ) (34,394 ) Total $ (27,352 ) $ (29,514 ) $ (54,704 ) $ (59,043 ) The Company is susceptible to large fluctuations in its effective tax rate and has thereby recognized income tax expense on a discrete pro-rata basis for the six month periods ended June 30, 2015 and 2014. In addition, no current domestic income tax provision was recorded during the same periods, due to domestic losses of approximately $1,233,000 during the six month period ended June 30, 2015 and the utilization of the valuation allowance to offset domestic income of approximately $592,000 during the six month period ended June 30, 2014. The foreign current income tax provisions for the six months ended June 30, 2015 and 2014 were the result of Italian local income taxes based upon applicable statutory rates effective in Italy. The Company has established a full valuation allowance on its net domestic deferred tax assets, which are primarily comprised of net operating loss carryforwards. Accordingly, as of June 30, 2015 and December 31, 2014, the Company had no net domestic deferred tax assets. As of June 30, 2015 and December 31, 2014, the Company had net deferred tax liabilities of $679,342 and $644,948, respectively, relating to tax deductible goodwill which is not expected to reverse in the foreseeable future. Additionally, as of June 30, 2015 and December 31, 2014, the Company also had no net foreign deferred tax asset, as a full valuation allowance was provided. Future changes in the estimated net realizable value of the deferred tax assets or deferred tax liabilities could cause the provision for income taxes to vary significantly from period to period. Domestic net operating losses generated by the Company total approximately $17,215,000 as of December 31, 2014 and are subject to any applicable limitations as described below. The net operating losses included in the domestic net deferred tax asset will begin to expire in 2022. Under Section 382 of the Internal Revenue Code, the Company’s use of its net operating loss carryforwards will be limited in the future as a result of the September 1, 2010 acquisition by ERBA Mannheim of the approximately 72.4% of the then outstanding shares of the Company’s common stock previously owned by the Debregeas-Kennedy Group. As a result of that acquisition, the Company’s ability to utilize net operating loss carryforwards to offset any future taxable income is currently limited to approximately $827,000 per year, plus both any limitation unused since the acquisition and any unused net operating losses generated after the September 1, 2010 acquisition date. The amount of the annual limitation will be adjusted upwards for any recognized built-in gains on certain assets sold during the five year period commencing with the ownership change. The limitations of these net operating loss carryforwards did not impact the Company’s results for the three and six months ended June 30, 2015 and 2014. United States income taxes have not been provided on undistributed earnings of foreign subsidiaries, as such earnings are being retained indefinitely by such subsidiaries for reinvestment. The distribution of these earnings would first reduce the domestic valuation allowance before resulting in additional United States income taxes.

Note 9 - Concentration of Credi

Note 9 - Concentration of Credit Risk	6 Months Ended
	Jun. 30, 2015
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]	(9) CO NCENTRATION OF CREDIT RISK: The Company performs periodic credit evaluations of its customers’ financial condition and provides allowances for doubtful accounts as required. The Company maintains allowances for doubtful accounts, particularly in Italy where payment cycles are longer than in the United States, for potential credit losses based on the age of the accounts receivable and the results of the Company’s periodic credit evaluations of its customers’ financial condition. Additionally, the Company periodically receives payments based upon negotiated agreements with governmental regions in Italy, acting on behalf of hospitals located in the region, in satisfaction of previously outstanding accounts receivable balances. A substantial portion of the Company’s accounts receivable and revenues are derived from Delta Biologicals, S.r.l., the Company’s subsidiary located in Italy (“Delta Biologicals”), and its operations may be affected by the recent fiscal and debt crisis the Italian government is facing. As of June 30, 2015 and December 31, 2014, Delta Biologicals’ gross accounts receivable, primarily due from Italian companies, were approximately $1,713,000 and $2,120,000, respectively. Amounts due from hospitals and laboratories controlled by the Italian government as of June 30, 2015 and December 31, 2014 were approximately $762,000 and $865,000, respectively, which in both periods accounted for approximately 13% of the Company’s consolidated net accounts receivable. Delta Biologicals recognized revenues during the six months ended June 30, 2015 and 2014 of approximately $1,826,000 and $3,045,000, respectively, which represented approximately 17% and 22%, respectively, of the Company’s consolidated net revenues. In recent years, the Italian government has been experiencing severe fiscal and debt crises and a recession, including its increasingly uncertain ability to service its sovereign debt obligations, caused in part by the declining global markets and economic conditions. Accordingly, the Company is subject to certain economic, business and, in particular, credit risk if its customers located in Italy, which are hospitals or laboratories controlled by the Italian government, do not pay amounts owed to the Company, extend payment cycles even further or ask the Company to accept a lower payment amount than is owed to the Company. The Company’s current allowances for doubtful accounts, although currently believed by management to be adequate, may not be adequate and the Company may be required to make additional allowances, which would adversely affect, and could materially adversely affect, the Company’s operating results in the period in which the determination or allowance is or was made. Any of these factors could materially and adversely affect the Company’s business, prospects, operating results, financial condition and cash flows in the near term. The Company’s cash management and investment policies restrict investments to low-risk, highly liquid securities, and the Company performs periodic evaluations of the credit standing of the financial institutions with which it deals. A significant portion of the Company’s cash and cash equivalents is presently held at one international securities brokerage firm. Accordingly, the Company is subject to credit risk if this brokerage firm is unable to repay the balance in the account or deliver the Company’s securities or if the brokerage firm should become bankrupt or otherwise insolvent. From time to time, the Company’s cash balances exceed federally insured limits.

Note 10 - Segment Information

Note 10 - Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	( 10 ) SEGMENT INFORMATION : The Company’s management reviews financial information, allocates resources and manages its business by geographic region. The domestic region, which includes corporate expenditures, contains the Company’s subsidiaries in the United States. The European region contains Delta Biologicals. The information provided is based on internal reports and was developed and utilized by management to track trends and changes in the results of the regions. The information, including the allocations of expense and overhead, was calculated based on a management approach and may not reflect the actual economic costs, contributions or results of operations of the regions as stand-alone businesses. If a different basis of presentation or allocation were utilized, the relative contributions of the regions might differ but the relative trends would, in management's view, likely not be materially impacted. The table below sets forth net revenues, income (loss) from operations, total assets, goodwill, depreciation and amortization, and capital expenditures by region for the three and six months ended June 30, 2015 and 2014: Three Months Ended Domestic European Elimination Total June 30, 2015: External Net Sales $ 4,993,734 $ 951,936 $ - $ 5,945,670 Intercompany Sales 44,694 16,619 (61,313 ) $ - Net Revenue $ 5,038,428 $ 968,555 $ (61,313 ) $ 5,945,670 Loss from Operations $ (335,697 ) $ (95,656 ) $ - $ (431,353 ) Depreciation and Amortization $ 212,055 $ 36,507 $ - $ 248,562 Capital Expenditures $ 12,243 $ ( 30 ) $ - $ 12,213 June 30, 2014: External Net Sales $ 5,977,897 $ 1,562,760 $ - $ 7,540,657 Intercompany Sales 150,096 14,306 (164,402 ) - Net Revenue $ 6,127,993 $ 1,577,066 $ (164,402 ) $ 7,540,657 Income (Loss) from Operations $ 579,944 $ (25,974 ) $ - $ 553,970 Depreciation and Amortization $ 201,311 $ 48,807 $ - $ 250,118 Capital Expenditures $ 230,812 $ - $ - $ 230,812 Six Months Ended June 30, 2015: External Net Sales $ 9,001,636 $ 1,797,110 $ - $ 10,798,746 Intercompany Sales 100,121 28,695 (128,816 ) - Net Revenue $ 9,101,757 $ 1,825,805 $ (128,816 ) $ 10,798,746 Loss from Operations $ (869,717 ) $ (235,338 ) $ - $ (1,105,055 ) Assets $ 40,305,831 $ 4,833,265 $ (19,376,205 ) $ 25,762,891 Goodwill $ 3,494,619 $ - $ - $ 3,494,619 Depreciation and Amortization $ 466,978 $ 71,147 $ - $ 538,125 Capital Expenditures $ 246,697 $ 3,014 $ - $ 249,711 June 30, 2014: External Net Sales $ 10,883,010 $ 3,028,759 $ - $ 13,911,769 Intercompany Sales 210,126 16,333 (226,459 ) - Net Revenue $ 11,093,136 $ 3,045,092 $ (226,459 ) $ 13,911,769 Income from Operations $ 745,861 $ 57,356 $ - $ 803,217 Assets $ 41,297,942 $ 6,591,861 $ (20,460,225 ) $ 27,429,578 Goodwill $ 3,494,619 $ - $ - $ 3,494,619 Depreciation and Amortization $ 412,906 $ 94,723 $ - $ 507,629 Capital Expenditures $ 232,044 $ - $ - $ 232,044

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	( 11 ) COMMITMENTS AND CONTINGENCIES : The Company is involved in various legal claims and actions and regulatory matters, and other notices and demand proceedings arising in the ordinary course of business. While it is not possible to predict or determine the outcome of these proceedings, in the opinion of management, based on a review with legal counsel, any losses resulting from such legal proceedings would not have a material adverse impact on the financial position, results of operations or cash flows of the Company.

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	(1 2 ) RELATED PARTY TRANSACTIONS : Certain Relationships and Related Transactions During the six months ended June 30, 2015 and 2014, the Company sold products to Transasia, and a subsidiary of ERBA Mannheim, for a total amount of approximately $242,000 and $594,000, respectively. During the year ended December 31, 2014, the Company began to incur management fees from ERBA Mannheim related to the management of global trade conferences and distributors in European, North African and Asian countries. During the three and six months ended June 30, 2015, the Company incurred approximately $66,000 and $133,000, respectively, in such management fees to ERBA Mannheim. During 2011, Delta Biologicals entered into a contract research and development agreement with ERBA Mannheim, as amended, for a total of Euro 754,700, pursuant to which ERBA Mannheim has agreed to pay the subsidiary a total amount of Euro 133,000 (equivalent to approximately $186,000) during the fourth quarter of 2011 and an additional Euro 621,700 (equivalent to approximately $799,000) during the year ended December 31, 2012 for the results of certain research and development. For the six months ended June 30 2014, the Company recognized research and development revenue under this agreement in the amount of approximately Euro 138,000 (equivalent to approximately $190,000). There was no revenue recognized under this agreement for the three and six month periods ended June 30, 2015. The Company had total net accounts receivable from ERBA Mannheim, Transasia and related subsidiaries of approximately $1,156,000 and $1,489,000 as of June 30, 2015 and December 31, 2014, respectively, related to the above transactions, receivables and payables from the sale and purchase of products and the reimbursement of various expenditures incurred on behalf of ERBA Mannheim. On June 15, 2012, the Company entered into a use of name license agreement with ERBA Mannheim granting a royalty-free, non-exclusive license to use the name “ERBA” for an annual fee of one dollar. The license agreement will be terminated upon the earlier of (a) the transfer by ERBA Mannheim to the Company of all of ERBA Mannheim’s rights, title and interest in and to the use of the name and any stylized logos or marks associated with the name (the date that such transfer becomes effective, the “Transfer Date”) and (b) such time, if any, as ERBA Mannheim no longer owns, directly or indirectly, shares of the Company’s common stock representing more than 50% of the issued and outstanding shares of such stock (the “Share Threshold Date”). Furthermore, ERBA Mannheim may terminate the license agreement at any time prior to the earlier of the Transfer Date and the Share Threshold Date: (a) upon providing the Company 180 days prior written notice of its intent to terminate and the date upon which the license agreement shall terminate; or (b) upon providing the Company 30 days prior written notice of any breach of the license agreement by the Company, which breach remains uncured at the end of such 30 day period. Common Stock and Equity Transactions The Company entered into the Stock Purchase Agreement with ERBA Mannheim, on April 8, 2011, pursuant to which the Company agreed to sell and issue to ERBA Mannheim an aggregate of 20,000,000 shares of the Company’s common stock for an aggregate purchase price of $15,000,000, or $0.75 per share of the Company’s common stock, and warrants to purchase an additional 20,000,000 shares of the Company’s common stock. The consummation of the investment contemplated by the Stock Purchase Agreement was subject to, among other things, the approval of holders of at least 66-2/3% of the issued and outstanding shares of the Company’s common stock (excluding any shares beneficially owned, directly or indirectly, by ERBA Mannheim). At the 2011 Annual Meeting of Stockholders held on June 10, 2011, the required approval of the Company’s stockholders was achieved. On June 30, 2011, ERBA Mannheim paid the Company $5,000,000 in order to consummate the initial transactions contemplated by the Stock Purchase Agreement (the “Initial Closing”). As a result, at the Initial Closing, the Company issued to ERBA Mannheim 6,666,667 shares of common stock and, in connection with the consummation of the initial transactions contemplated by the Stock Purchase Agreement, a warrant to purchase an additional 20,000,000 shares of common stock (the “Warrant”). After giving effect to transaction costs of $399,700 relating to the Stock Purchase Agreement, the Company received net proceeds of $4,600,300 at the consummation of the initial transactions contemplated by the Stock Purchase Agreement. The Warrant has a five year term and an exercise price per share of the Company’s common stock of $0.75 and is exercisable only to the extent that shares of the Company’s common stock have been purchased under the Stock Purchase Agreement. On April 16, 2012, ERBA Mannheim exercised, in part, the Warrant by paying an aggregate exercise price of $450,000 and, in connection therewith, the Company issued to ERBA Mannheim 600,000 shares of the Company’s common stock. A total of 19,400,000 warrants remain unexercised as of June 30, 2015 and 2014. As of June 30, 2015 and 2014, the Warrant was exercisable for 14,733,334 shares of the Company’s common stock. Pursuant to amendments to the Stock Purchase Agreement on December 29, 2011 and October 3, 2012, each of which was unanimously approved by the independent directors on the Board of Directors, the Company and ERBA Mannheim agreed that the Company would sell and issue to ERBA Mannheim, and ERBA Mannheim would purchase from the Company, 8,666,667 shares of common stock at the second closing of the transactions contemplated by the Stock Purchase Agreement (the “Second Closing”) for an aggregate purchase price of $6,500,000, or $0.75 per share, and 4,666,666 shares of common stock at the final closing of the transactions contemplated by the Stock Purchase Agreement (the “Final Closing”) for an aggregate purchase price of $3,500,000, or $0.75 per share. In addition, pursuant to the amendments to the Stock Purchase Agreement, the Company and ERBA Mannheim agreed to hold the Second Closing as promptly as practicable on or after October 3, 2012 and to hold the Final Closing on the date that is 60 days after the date on which a majority of the independent directors on the Board of Directors determines by vote or written consent that such issuance, sale and purchase shall occur and causes notice thereof to be delivered to ERBA Mannheim. The Second Closing was held on October 3, 2012, at which time ERBA Mannheim paid the $6,500,000 aggregate purchase price to the Company, and, in connection therewith, the Company issued to ERBA Mannheim 8,666,667 shares of the Company’s common stock. The Company used all of the proceeds of the Second Closing to consummate the October 3, 2012 acquisition of Drew Scientific.

Note 13 - Revolving Line of Cre

Note 13 - Revolving Line of Credit	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	( 13 ) REVOLVING LINE OF CREDIT : On March 1, 2013, the Company entered into a Business Loan Agreement and Promissory Note with Citibank, which provided for a secured, revolving credit facility of up to $2,000,000 (the “Old Citibank Line of Credit”). Amounts outstanding under the Old Citibank Line of Credit accrued interest at an annual rate equal to the 30-day LIBOR plus 1.75% (1.91% at December 31, 2014) and was to become due and payable on December 31, 2014, but was temporarily extended. At December 31, 2014, approximately $1,939,000 was outstanding under the Old Citibank line of credit. On March 25, 2015, the Company entered into a new Business Loan Agreement and Promissory Note with Citibank, which provides for a secured, revolving credit facility of up to $3,500,000 (the “New Citibank Line of Credit”). The New Citibank Line of Credit has replaced the Old Citibank Line of Credit, which is no longer outstanding. Amounts outstanding under the New Citibank Line of Credit will accrue interest at an annual rate equal to the 30-day LIBOR plus 1.75% (1.93% at June 30, 2015) and will become due and payable on February 29, 2016, subject to acceleration upon the occurrence of certain specified events of default that the Company believes are customary for transactions of this type. Pursuant to the Business Loan Agreement, the Company is subject to certain specified positive and negative covenants (including, without limitation, the requirements to maintain a specified capital base of not less than $8,500,000 and a specified leverage ratio, as defined, of not less than 2.0-to-1.0) that the Company believes are customary for transactions of this type. Amounts outstanding under the New Citibank Line of Credit have been collateralized by all of the assets of the Company and its wholly-owned subsidiaries located in the United States – Diamedix, ImmunoVision, Drew Scientific and JAS Diagnostics. In addition, each of Diamedix, ImmunoVision, Drew Scientific and JAS Diagnostics has guaranteed the repayment of amounts drawn on the New Citibank Line of Credit. Further, Transasia, the indirect parent company of the Company, has also guaranteed the repayment of amounts drawn on the New Citibank Line of Credit. Amounts outstanding under the New Citibank Line of Credit are also collateralized by the Company’s pledge of up to sixty-six percent (66%) of the total combined voting power of all classes of capital stock and other equity interests entitled to vote of Delta Biologicals, the Company’s wholly-owned subsidiary located in Italy. As of June 30, 2015, approximately $3,500,000 was outstanding under the New Citibank Line of Credit.

Note 14 - Other

Note 14 - Other	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block Supplement [Abstract]
Additional Financial Information Disclosure [Text Block]	( 14 ) OTHER: On March 25, 2015, our wholly-owned subsidiary located in Miami Lakes, Florida – Diamedix – entered into a Purchase and Sale Agreement with Joe Management LLC, as buyer, for the sale of the real property owned by Diamedix located at 2115, 2140, 2141, 2150, 2155, 2160 North Miami Avenue and 38 NW 22 nd Reclassifications Certain amounts in the prior year’s condensed consolidated financial statements have been reclassified to conform to the current year’s presentation.

Note 15 - Recently Issued Accou

Note 15 - Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	(1 5 ) RECENTLY ISSUED ACCOUNTING STANDARDS : In January 2015, the FASB issued ASU 2015-01, “Income Statement – Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items,” which changed the requirements for reporting extraordinary and unusual items in the income statement. The update eliminates the concept of extraordinary items. The presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. A reporting entity may apply the amendments prospectively or retrospectively to all periods presented in the financial statements. The guidance will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The adoption of this newly issued guidance is not expected to have an impact to the Company’ s consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, “Consolidations (Topic 225-20): Amendments to the Consolidation Analysis,” which affects current consolidation guidance. The guidance changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. This guidance must be applied using one of two retrospective application methods and will be effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in any interim period. The Company is currently evaluating the impact, if any, of the adoption of this newly issued guidance to its consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, “Interest – Imputation of Interest (Topic 225-20): Simplifying the Presentation of Debt Issue Costs,” that simplifies the presentation of debt issuance costs. The guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by these amendments. This guidance should be applied on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. The guidance will be effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. The Company is currently evaluating the impact, if any, of the adoption of this newly issued guidance to its consolidated financial statements. In May 2014, the FASB issued a new standard to achieve a consistent application of revenue recognition within the U.S., resulting in a single revenue model to be applied by reporting companies under U.S. generally accepted accounting principles. Under the new model, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the new standard requires that reporting companies disclose the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. On July 9, 2015, the FASB agreed to delay the effective date by one year. In accordance with the agreed upon delay, the new standard is effective for the Company beginning in the first quarter of 2018. Early adoption is permitted, but not before the original effective date of the standard. The new standard is required to be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying it recognized at the date of initial application. The Company has not yet selected a transition method nor has the Company determined the impact of the new standard on its consolidated condensed financial statements. In April 2015, the FASB issued ASU 2015-05, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement.” Under this standard, if a cloud computing arrangement includes a software license, the software license element of the arrangement should be accounted for consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the arrangement should be accounted for as a service contract. The new standard will be effective for the Company on January 1, 2016. The Company is currently evaluating the impact, if any, of the adoption of this newly issued guidance on its consolidated financial statements. In July 2015, the FASB issued ASU 2015-011, “Inventory (Topic 330): Simplifying the Measurement of Inventory.” Under this standard, an entity should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. The amendments in this guidance are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments are to be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The Company is currently evaluating the impact, if any, of the adoption of this newly issued guidance on its consolidated financial statements.

Note 3 - Stock-based Compensa22

Note 3 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of Shares Weighted Average Exercise Price Balance as of December 31, 2014 808,082 $1.59 Stock options granted 115,000 $3.03 Stock options forfeited (20,000) $1.63 Balance as of June 30, 2015 903,082 $1.75

Note 5 - Accounts Receivable 23

Note 5 - Accounts Receivable and Allowance for Doubtful Accounts (Tables)	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30, 2015 December 31, 2014 (unaudited) Accounts receivable $ 6,499,989 $ 7,352,473 Less: allowance for doubtful accounts (785,125 ) (937,578 ) Accounts receivable, net $ 5,714,864 $ 6,414,895

Note 6 - Inventories, Net (Tabl

Note 6 - Inventories, Net (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	June 30, December 31, 2015 2014 (unaudited) Raw materials $ 4,476,371 $ 3,292,215 Work-in-process 821,861 1,215,178 Finished goods 3,066,935 2,491,942 Total inventories, net $ 8,365,167 $ 6,999,335

Note 8 - Income Taxes (Tables)

Note 8 - Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Three Months Six Months June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Current: Foreign $ (10,155 ) $ (12,317 ) $ (20,310 ) $ (24,649 ) Deferred: Domestic (17,197 ) (17,197 ) (34,394 ) (34,394 ) Total $ (27,352 ) $ (29,514 ) $ (54,704 ) $ (59,043 )

Note 10 - Segment Information (

Note 10 - Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Domestic European Elimination Total June 30, 2015: External Net Sales $ 4,993,734 $ 951,936 $ - $ 5,945,670 Intercompany Sales 44,694 16,619 (61,313 ) $ - Net Revenue $ 5,038,428 $ 968,555 $ (61,313 ) $ 5,945,670 Loss from Operations $ (335,697 ) $ (95,656 ) $ - $ (431,353 ) Depreciation and Amortization $ 212,055 $ 36,507 $ - $ 248,562 Capital Expenditures $ 12,243 $ ( 30 ) $ - $ 12,213 June 30, 2014: External Net Sales $ 5,977,897 $ 1,562,760 $ - $ 7,540,657 Intercompany Sales 150,096 14,306 (164,402 ) - Net Revenue $ 6,127,993 $ 1,577,066 $ (164,402 ) $ 7,540,657 Income (Loss) from Operations $ 579,944 $ (25,974 ) $ - $ 553,970 Depreciation and Amortization $ 201,311 $ 48,807 $ - $ 250,118 Capital Expenditures $ 230,812 $ - $ - $ 230,812 Six Months Ended June 30, 2015: External Net Sales $ 9,001,636 $ 1,797,110 $ - $ 10,798,746 Intercompany Sales 100,121 28,695 (128,816 ) - Net Revenue $ 9,101,757 $ 1,825,805 $ (128,816 ) $ 10,798,746 Loss from Operations $ (869,717 ) $ (235,338 ) $ - $ (1,105,055 ) Assets $ 40,305,831 $ 4,833,265 $ (19,376,205 ) $ 25,762,891 Goodwill $ 3,494,619 $ - $ - $ 3,494,619 Depreciation and Amortization $ 466,978 $ 71,147 $ - $ 538,125 Capital Expenditures $ 246,697 $ 3,014 $ - $ 249,711 June 30, 2014: External Net Sales $ 10,883,010 $ 3,028,759 $ - $ 13,911,769 Intercompany Sales 210,126 16,333 (226,459 ) - Net Revenue $ 11,093,136 $ 3,045,092 $ (226,459 ) $ 13,911,769 Income from Operations $ 745,861 $ 57,356 $ - $ 803,217 Assets $ 41,297,942 $ 6,591,861 $ (20,460,225 ) $ 27,429,578 Goodwill $ 3,494,619 $ - $ - $ 3,494,619 Depreciation and Amortization $ 412,906 $ 94,723 $ - $ 507,629 Capital Expenditures $ 232,044 $ - $ - $ 232,044

Note 1 - Organization and Ope27

Note 1 - Organization and Operations (Details) - USD ($)	1 Months Ended
	Sep. 30, 2010	Sep. 01, 2010
Note 1 - Organization and Operations (Details) [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired		72.40%
Diagnostics Mannheim GmbH [Member] | Stock Purchase Agreement [Member]
Note 1 - Organization and Operations (Details) [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	81.60%	72.40%
Equity Method Investment, Aggregate Cost		$ 15,000,000
Business Acquisition, Share Price		$ 0.75
Stock Issued During Period, Shares, New Issues	15,333,334
Stock Shares Issued Upon Exercise Of Class Of Warrant Or Right	600,000

Note 2 - Liquidity (Details)

Note 2 - Liquidity (Details) - USD ($)	Mar. 25, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Note 2 - Liquidity (Details) [Line Items]
Net Income (Loss) Attributable to Parent		$ (553,101)	$ 450,436	$ (1,572,064)	$ 614,682
Net Cash Provided by (Used in) Operating Activities				$ (2,155,662)	$ (963,654)
New Citibank Line of Credit [Member] | Revolving Credit Facility [Member] | Citibank, N.A. [Member]
Note 2 - Liquidity (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 3,500,000
Debt Instrument, Maturity Date	Feb. 29, 2016

Note 3 - Stock-based Compensa29

Note 3 - Stock-based Compensation (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Note 3 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares)			0
Allocated Share-based Compensation Expense	$ 35,000	$ 47,000	$ 46,800	$ 47,000
Employee Stock Option [Member]
Note 3 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years

Note 3 - Stock-based Compensa30

Note 3 - Stock-based Compensation (Details) - Stock Option Activity - 6 months ended Jun. 30, 2015 - $ / shares	Total
Stock Option Activity [Abstract]
Balance as of December 31, 2014	808,082
Balance as of December 31, 2014	$ 1.59
Stock options granted	115,000
Stock options granted	$ 3.03
Stock options forfeited	(20,000)
Stock options forfeited	$ 1.63
Balance as of June 30, 2015	903,082
Balance as of June 30, 2015	$ 1.75

Note 5 - Accounts Receivable 31

Note 5 - Accounts Receivable and Allowance for Doubtful Accounts (Details) - Accounts Receivable, Net - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Accounts Receivable, Net [Abstract]
Accounts receivable	$ 6,499,989	$ 7,352,473
Less: allowance for doubtful accounts	(785,125)	(937,578)
Accounts receivable, net	$ 5,714,864	$ 6,414,895

Note 6 - Inventories, Net (Deta

Note 6 - Inventories, Net (Details) - Components of Inventory - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Components of Inventory [Abstract]
Raw materials	$ 4,476,371	$ 3,292,215
Work-in-process	821,861	1,215,178
Finished goods	3,066,935	2,491,942
Total inventories, net	$ 8,365,167	$ 6,999,335

Note 7 - Income (Loss) Per Sh33

Note 7 - Income (Loss) Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	15,636,416	150,000

Note 8 - Income Taxes (Details)

Note 8 - Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Sep. 01, 2010
Note 8 - Income Taxes (Details) [Line Items]
Current Income Tax Expense (Benefit)			$ 0	$ 0
Income (Loss) from Continuing Operations before Income Taxes, Domestic			1,233,000	592,000
Deferred Tax Liabilities, Net	$ 679,342		679,342		$ 644,948
Operating Income (Loss)	(431,353)	$ 553,970	(1,105,055)	$ 803,217
Business Acquisition, Percentage of Voting Interests Acquired						72.40%
Operating Loss Carryforward, Limitations on Use, Amount			827,000
Domestic Tax Authority [Member]
Note 8 - Income Taxes (Details) [Line Items]
Deferred Tax Assets, Net of Valuation Allowance	0		0		0
Operating Income (Loss)					(17,215,000)
Foreign Tax Authority [Member]
Note 8 - Income Taxes (Details) [Line Items]
Deferred Tax Assets, Net of Valuation Allowance	$ 0		$ 0		$ 0

Note 8 - Income Taxes (Detail35

Note 8 - Income Taxes (Details) - Provision for Income Taxes - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Current:
Foreign	$ (10,155)	$ (12,317)	$ (20,310)	$ (24,649)
Deferred:
Domestic	(17,197)	(17,197)	(34,394)	(34,394)
Total	$ (27,352)	$ (29,514)	$ (54,704)	$ (59,043)

Note 9 - Concentration of Cre36

Note 9 - Concentration of Credit Risk (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Note 9 - Concentration of Credit Risk (Details) [Line Items]
Accounts Receivable, Net, Current	$ 5,714,864		$ 6,414,895
Delta Biologicals [Member] | ITALY | Hospitals and Laboratories [Member]
Note 9 - Concentration of Credit Risk (Details) [Line Items]
Amount Due From Hospitals and Laboratories in Total Net Accounts	$ 762,000		$ 865,000
Accounts Receivable [Member] | Geographic Concentration Risk [Member] | ITALY | Hospitals and Laboratories [Member]
Note 9 - Concentration of Credit Risk (Details) [Line Items]
Concentration Risk, Percentage	13.00%		13.00%
Accounts Receivable [Member] | Geographic Concentration Risk [Member] | Delta Biologicals [Member] | ITALY
Note 9 - Concentration of Credit Risk (Details) [Line Items]
Accounts Receivable, Net, Current	$ 1,713,000		$ 2,120,000
Sales Revenue, Net [Member] | Geographic Concentration Risk [Member] | Delta Biologicals [Member] | ITALY
Note 9 - Concentration of Credit Risk (Details) [Line Items]
Concentration Risk, Percentage	17.00%	22.00%
Revenues	$ 1,826,000	$ 3,045,000

Note 10 - Segment Information37

Note 10 - Segment Information (Details) - Segment Reporting Information - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenue	$ 5,945,670	$ 7,540,657	$ 10,798,746	$ 13,911,769
Income (loss) from operations	(431,353)	553,970	(1,105,055)	803,217
Depreciation and amortization	248,562	250,118	538,125	507,629
Capital expenditures	12,213	230,812	249,711	232,044
June 30, 2015:
Assets	25,762,891	27,429,578	25,762,891	27,429,578	$ 26,195,785
Goodwill	3,494,619	3,494,619	3,494,619	3,494,619	$ 3,494,619
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(61,313)	(164,402)	(128,816)	(226,459)
June 30, 2015:
Assets	(19,376,205)	(20,460,225)	(19,376,205)	(20,460,225)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	5,945,670	7,540,657	10,798,746	13,911,769
Domestic [Member]
Segment Reporting Information [Line Items]
Revenue	4,993,734	5,977,897	9,001,636	10,883,010
Income (loss) from operations	(335,697)	579,944	(869,717)	745,861
Depreciation and amortization	212,055	201,311	466,978	412,906
Capital expenditures	12,243	230,812	246,697	232,044
June 30, 2015:
Assets	40,305,831	41,297,942	40,305,831	41,297,942
Goodwill	3,494,619	3,494,619	3,494,619	3,494,619
Domestic [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	44,694	150,096	100,121	210,126
Domestic [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	5,038,428	6,127,993	9,101,757	11,093,136
European Segment [Member]
Segment Reporting Information [Line Items]
Revenue	951,936	1,562,760	1,797,110	3,028,759
Income (loss) from operations	(95,656)	(25,974)	(235,338)	57,356
Depreciation and amortization	36,507	48,807	71,147	94,723
Capital expenditures	(30)		3,014
June 30, 2015:
Assets	4,833,265	6,591,861	4,833,265	6,591,861
European Segment [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	16,619	14,306	28,695	16,333
European Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	$ 968,555	$ 1,577,066	$ 1,825,805	$ 3,045,092

Note 12 - Related Party Trans38

Note 12 - Related Party Transactions (Details)	Oct. 03, 2012USD ($)$ / sharesshares	Jun. 15, 2012USD ($)	Apr. 16, 2012USD ($)shares	Jun. 30, 2011USD ($)$ / sharesshares	Jun. 30, 2015USD ($)shares	Dec. 31, 2011USD ($)	Dec. 31, 2011EUR (€)	Jun. 30, 2015USD ($)shares	Jun. 30, 2014USD ($)shares	Jun. 30, 2014EUR (€)shares	Dec. 31, 2012USD ($)	Dec. 31, 2012EUR (€)	Dec. 31, 2011EUR (€)	Dec. 31, 2014USD ($)	Apr. 08, 2011USD ($)$ / sharesshares
Transasia Bio-Medicals Ltd. [Member]
Note 12 - Related Party Transactions (Details) [Line Items]
Revenue from Related Parties								$ 242,000	$ 594,000
ERBA Diagnostics Mannheim [Member]
Note 12 - Related Party Transactions (Details) [Line Items]
Research and Development Arrangement, Contract to Perform for Others, Compensation Earned					$ 0	$ 186,000	€ 133,000	$ 0	$ 190,000	€ 138,000	$ 799,000	€ 621,700	€ 754,700
ERBA Diagnostics Mannheim [Member] | Stock Purchase Agreement [Member]
Note 12 - Related Party Transactions (Details) [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance (in Shares) | shares															20,000,000
Common Stock, Capital Shares Reserved for Future Issuance, Value															$ 15,000,000
Share Price (in Dollars per share) | $ / shares															$ 0.75
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | shares				20,000,000	14,733,334			14,733,334	14,733,334	14,733,334					20,000,000
Stock Issued During Period, Value, New Issues				$ 5,000,000
Stock Issued During Period, Shares, New Issues (in Shares) | shares				6,666,667
Payments of Stock Issuance Costs				$ 399,700
Proceeds from Issuance of Common Stock				$ 4,600,300
Warrant Term				5 years
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ / shares				$ 0.75
Proceeds from Warrant Exercises			$ 450,000
Stock Shares Issued Upon Exercise Of Class Of Warrant Or Right (in Shares) | shares			600,000
Class of Warrant or Right, Outstanding (in Shares) | shares					19,400,000			19,400,000	19,400,000	19,400,000
ERBA Diagnostics Mannheim [Member] | Stock Purchase Agreement [Member] | The Second Closing [Member]
Note 12 - Related Party Transactions (Details) [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance (in Shares) | shares	8,666,667
Common Stock, Capital Shares Reserved for Future Issuance, Value	$ 6,500,000
Share Price (in Dollars per share) | $ / shares	$ 0.75
Stock Issued During Period, Shares, New Issues (in Shares) | shares	8,666,667
Proceeds from Issuance of Common Stock	$ 6,500,000
ERBA Diagnostics Mannheim [Member] | Stock Purchase Agreement [Member] | The Final Closing [Member]
Note 12 - Related Party Transactions (Details) [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance (in Shares) | shares	4,666,666
Common Stock, Capital Shares Reserved for Future Issuance, Value	$ 3,500,000
Share Price (in Dollars per share) | $ / shares	$ 0.75
ERBA Diagnostics Mannheim [Member] | Management Fees [Member]
Note 12 - Related Party Transactions (Details) [Line Items]
Related Party Transaction, Amounts of Transaction					$ 66,000			$ 133,000
ERBA Diagnostics Mannheim [Member] | Name License Agreement [Member]
Note 12 - Related Party Transactions (Details) [Line Items]
Related Party Transaction, Amounts of Transaction		$ 1
Name License Agreement, Share Threshold Percentage		50.00%
Name License Agreement, Termination Notice Period		180 days
Name License Agreement, Notice of Breach, Period		30 days
ERBA Diagnostics Mannheim and Transasia [Member]
Note 12 - Related Party Transactions (Details) [Line Items]
Accounts Receivable, Related Parties, Current					$ 1,156,000			$ 1,156,000						$ 1,489,000

Note 13 - Revolving Line of C39

Note 13 - Revolving Line of Credit (Details) - Revolving Credit Facility [Member] - Citibank, N.A. [Member] - USD ($)	Mar. 25, 2015	Mar. 01, 2013	Jun. 30, 2015	Dec. 31, 2014
Old Citibank Line of Credit [Member]
Note 13 - Revolving Line of Credit (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)		$ 2,000,000
Line of Credit Facility, Interest Rate at Period End				1.91%
Long-term Line of Credit (in Dollars)				$ 1,939,000
Old Citibank Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member]
Note 13 - Revolving Line of Credit (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.75%
New Citibank Line of Credit [Member]
Note 13 - Revolving Line of Credit (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)	$ 3,500,000
Line of Credit Facility, Interest Rate at Period End			1.93%
Long-term Line of Credit (in Dollars)			$ 3,500,000
Debt Instrument, Maturity Date	Feb. 29, 2016
Line of Credit Facility, Covenant Terms, Minimum Capital Base (in Dollars)	$ 8,500,000
Line of Credit Facility, Covenant Terms, Leverage Ratio	2
Line of Credit Facility, Collateral, Percentage	66.00%
New Citibank Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member]
Note 13 - Revolving Line of Credit (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.75%

Note 14 - Other (Details)

Note 14 - Other (Details) - Property [Member] - Diamedix [Member] - Joe Management LLC [Member] - USD ($)	Mar. 25, 2015	Jun. 30, 2015
Note 14 - Other (Details) [Line Items]
Purchase and Sale Agreement, Sale Price	$ 23,000,000
Real Estate Held-for-sale		$ 400,000
Purchase and Sale Agreement, Examination Period	45 days