Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | May. 10, 2016 | |
Entity Registrant Name | eRoomSystem Technologies Inc | |
Entity Central Index Key | 1,110,361 | |
Trading Symbol | erms | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 24,217,865 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 1,159,790 | $ 1,247,739 |
Investment in available for sale securities | 24,018 | 23,640 |
Notes receivable | 1,073,100 | 1,075,020 |
Accounts receivable, net of allowance for doubtful accounts of $7,581 and $5,044 | 100,713 | $ 67,008 |
Loan receivable | 19,652 | |
Inventory | 97,270 | $ 101,928 |
Advance to hotels | 71,488 | 78,473 |
Prepaid expenses | 44,731 | 3,369 |
Total Current Assets | 2,590,762 | 2,597,177 |
PROPERTY AND EQUIPMENT | ||
Property and equipment, net of accumulated depreciation of $25,832 and $23,524 | 32,736 | 39,810 |
INVESTMENT IN REAL PROPERTY TAX LIENS | 3,143 | 3,143 |
DEPOSITS | 2,933 | 2,933 |
Total Assets | 2,629,574 | 2,643,063 |
CURRENT LIABILITIES | ||
Accounts payable | 33,930 | 12,485 |
Accrued liabilities | 40,812 | 80,195 |
Total Current Liabilities | 74,742 | 92,680 |
Total Liabilities | $ 74,742 | $ 92,680 |
STOCKHOLDERS' EQUITY | ||
Preferred stock, $0.001 par value; 5,000,000 shares authorized; none outstanding | ||
Common stock, $0.001 par value; 50,000,000 shares authorized; shares outstanding 24,217,865 and 24,217,865 | $ 24,218 | $ 24,218 |
Additional paid-in capital | 34,215,607 | 34,211,957 |
Accumulated deficit | (31,686,277) | (31,686,698) |
Accumulated other comprehensive income | 1,284 | 906 |
Total Stockholders' Equity | 2,554,832 | 2,550,383 |
Total Liabilities and Stockholders' Equity | $ 2,629,574 | $ 2,643,063 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Allowance for doubtful accounts | $ 7,581 | $ 5,044 |
Accumulated depreciation | $ 25,832 | $ 23,524 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares outstanding (in shares) | 24,217,865 | 24,217,865 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
REVENUE | $ 229,059 | $ 199,794 |
COST OF REVENUE | 148,071 | 110,692 |
GROSS MARGIN | 80,988 | 89,102 |
OPERATING EXPENSES | ||
Selling, general and administrative expense, including non-cash compensation of $3,650 and $0 | 91,081 | 93,789 |
Research and development expense | 14,694 | 12,503 |
Net Operating Expenses | 105,775 | 106,292 |
OTHER INCOME | ||
Investment Income | 25,208 | 28,247 |
Net Income | 421 | 11,057 |
Other Comprehensive Income | ||
Unrealized holding gain (loss) | 378 | 478 |
Comprehensive Income | $ 799 | $ 11,535 |
Basic Income Per Common Share (in dollars per share) | $ 0 | $ 0 |
Diluted Income Per Common Share (in dollars per share) | $ 0 | $ 0 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) (Parentheticals) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Selling, general and administrative expense, non-cash compensation | $ 3,650 | $ 0 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 421 | $ 11,057 |
Adjustments to reconcile net income to net cash used in operating activities: | ||
Depreciation and amortization | 2,309 | 2,266 |
Accrued interest receivable | $ 9 | (5,095) |
Gain on sale of marketable securities | (8,358) | |
Loss on writedown of equipment | 261 | |
Selling, general and administrative expense, non-cash compensation | $ 3,650 | 0 |
Changes in operating assets and liabilities: | ||
Restricted cash | 61,350 | |
Accounts receivable | $ (33,705) | $ (31,732) |
Loan receivable | (19,652) | |
Inventory | 12,280 | $ (36,054) |
Advance to hotels | 6,985 | (3,607) |
Prepaid expenses | (41,362) | 2,717 |
Accounts payable | 21,445 | 5,173 |
Accrued liabilities | $ (39,383) | (33,959) |
Borrowed shares | (60,959) | |
Net Cash Used In Operating Activities | $ (87,003) | $ (96,940) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of property and equipment | $ (2,857) | |
Advances made under notes receivable | $ (390,000) | |
Proceeds from collection of note receivable | $ 1,911 | 7,083 |
Purchase of marketable securities | (91,546) | |
Proceeds from sale of marketable securities | 199,904 | |
Net Cash Used in Investing Activities | $ (946) | (274,559) |
Net Decrease in Cash | (87,949) | (371,499) |
Cash and cash equivalents at Beginning of Period | 1,247,739 | 1,453,971 |
Cash and cash equivalents at End of Period | $ 1,159,790 | $ 1,082,472 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | NOTE 1 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Condensed Financial Statements Cash and Cash Equivalents Investments in Debt and Equity Securities Available for Sale Accounts Receivable Inventory - Advances to Hotels Notes Receivable Investment in Real Property Tax Liens – Property and Equipment: eROOMSYSTEM TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Net Earnings per Common Share The following table is a reconciliation of the numerators and denominators used in the calculation of 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 Net income $ 421 $ 11,057 Basic weighted-average common shares outstanding 24,217,865 24,167,865 Effect of dilutive securities Stock options and warrants 12,500 34,375 Diluted weighted-average common shares outstanding 24,230,365 24,202,240 Basic income per share $ 0.00 $ 0.00 Diluted income per share $ 0.00 $ 0.00 During the three months ended March 31, 2016 and 2015, there were 275,000 and 142,500, respectively, of potential common stock equivalents from options were not included in the computation of diluted loss per share because their effect would have been anti-dilutive. |
Note 2 - Investments
Note 2 - Investments | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Cost and Equity Method Investments Disclosure [Text Block] | NOTE 2 – INVESTMENTS Investment in Real Property Tax Liens Investment in Available for Sale Debt Securities Debt and Equity Securities Cost Basis Unrealized Gains Unrealized Losses Fair Value Corporate Debt Securities $ 22,734 $ 1,284 $ - $ 24,018 Total $ 22,734 $ 1,284 $ - $ 24,018 The corporate debt securities mature on August 31, 2018 and May 29, 2020. |
Note 3 - Notes Receivable
Note 3 - Notes Receivable | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 3 – NOTES RECEIVABLE To date, the Company loaned $1,492,000 in amounts ranging from $150,000 to $450,000 to various parties for a one year term with mortgage notes ranging in interest from 5% - 12%. Interest is due and payable monthly. The entire principal amounts are due and payable on the maturity date. The mortgages are collateralized by either commercial or residential property. Proceeds collected on these notes during the three months ended March 31, 2016 totaled $1,919 and during the year ended December 31, 2015 totaled $272,512. The carrying amounts of loans outstanding on March 31, 2016 and December 31, 2015 were $1,073,100 and $1,075,020 including interest accrued. The carrying amount of the notes receivable approximates their fair values based on their short-term maturity. Accrued interest on notes receivable was $7,523 and $7,531 at March 31, 2016 and December 31, 2015 respectively, and was included in notes receivable in the accompanying consolidated balance sheets. |
Note 4 - Stockholders’ Eq
Note 4 - Stockholders’ Equity | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 4 – STOCKHOLDERS’ EQUITY During the three months ended March 31, 2016, the Company granted options to purchase 75,000 shares of common stock to employees for services rendered. These options, which vested immediately, have an exercise price of $0.06 per share and are exercisable through March 31, 2021. These options were valued at approximately $0.05 per share, or $3,650, using the Black-Scholes option pricing model with the following assumptions: market value of the common stock of $0.06 per share, risk free interest rate of 1.21%, dividend yield of 0.0%, volatility of 116% and expected life of 5 years. The pricing model utilized the full life of the options as the Company generally has a low turnover rate of its employees. Stock-based compensation expense relating to stock options of $3,650 and $0 was recognized during the three months ended March 31, 2016 and 2015, respectively. There was no unrecognized compensation related to stock options at March 31, 2016. A summary of stock option and warrant activity for the three months ended March 31, 2016 is as follows: Options and Warrants Exercise Price Range Weighted-Average Exercise Price Weighted-Average Life Aggregate Intrinsic Value Balance, December 31, 2015 300,000 $0.05 - $0.17 $ 0.08 5.40 $ - Granted 75,000 0.06 - 0.06 0.06 Expired (25,000 ) 0.17 - 0.17 0.17 Balance, March 31, 2016 350,000 0.05 - 0.12 0.06 5.00 $ 750 Exercisable, March 31, 2016 350,000 $0.05 - $0.12 $ 0.06 5.00 $ 750 Weighted-average fair value of options granted during the three months ended March 31, 2016 $ 0.05 All of the options and warrants were exercisable at March 31, 2016. At March 31, 2016 the intrinsic value for the options and warrants outstanding was $750. |
Note 5 - Fair Value of Financia
Note 5 - Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 5 – FAIR VALUE OF FINANCIAL INSTRUMENTS Generally accepted accounting principles define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To measure fair value, a hierarchy has been established which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs. This hierarchy uses three levels of inputs to measure the fair value of assets and liabilities as follows: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Observable inputs other than Level 1 including quoted prices for similar assets or liabilities, quoted prices in less active markets, or other observable inputs that can be corroborated by observable market data. Level 3 – Unobservable inputs supported by little or no market activity for financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. The Company uses fair value to measure certain assets and liabilities on a recurring basis when fair value is the primary measure for accounting. Fair value is also used on a nonrecurring basis to measure certain assets when applying lower of cost or market accounting or when adjusting carrying values. Fair value is also used when evaluating impairment on certain assets, including notes receivable and long-lived assets. The following table sets forth the estimated fair values of the Company’s financial instruments that are measured at fair value on a reoccurring basis as of March 31, 2016 and December 31, 2015: eROOMSYSTEM TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Fair Value of Financial Instruments Active Markets Significant for Identical Significant Unobservable Assets Observable Inputs Inputs Total (Level 1) (Level 2) (Level 3) March 31, 2016 Assets: Debt securities available for sale $ 24,018 $ - $ 24,018 $ - December 31, 2015 Assets: Debt securities available for sale $ 23,640 $ - $ 23,640 $ - Fair Value of Financial Instruments Not Required To Be Reported at Fair Value The fair values of real property tax liens, notes receivable and notes receivable, non-performing, are based on a combination of the stated or implied interest rates at the measurement dates, approximate their carrying amounts and are considered to fall within Level 3 of the fair value hierarchy. |
Note 6 - Concentration of Credi
Note 6 - Concentration of Credit Risk and Significant Customers | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 6 – CONCENTRATION OF CREDIT RISK AND SIGNIFICANT CUSTOMERS The Company's historical revenues and receivables have been derived primarily from the lodging industry. The Company offers credit terms in connection with its sale of products from refreshment centers. The Company performs ongoing credit evaluations of its customers' financial condition and does not require collateral from its customers. The Company maintains an allowance for uncollectible accounts receivable based upon a percentage of accounts receivable at year end. At March 31, 2016, the Company had accounts receivable from one customers which accounted for 36% of total accounts receivable and from a second customer which accounted for 42% of total accounts receivable. During the three months ended March 31, 2016, revenues from one customer accounted for 37% of total revenues and 27% from a second customer. During the three months ended March 31, 2015, revenues from one customer accounted for 35% of total revenues and 28% from a second customer. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Condensed Financial Statements |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents |
Marketable Securities, Policy [Policy Text Block] | Investments in Debt and Equity Securities Available for Sale |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Accounts Receivable |
Inventory, Policy [Policy Text Block] | Inventory - |
Receivables, Policy [Policy Text Block] | Advances to Hotels |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Notes Receivable |
Investment, Policy [Policy Text Block] | Investment in Real Property Tax Liens – |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment: |
Earnings Per Share, Policy [Policy Text Block] | Net Earnings per Common Share The following table is a reconciliation of the numerators and denominators used in the calculation of 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 Net income $ 421 $ 11,057 Basic weighted-average common shares outstanding 24,217,865 24,167,865 Effect of dilutive securities Stock options and warrants 12,500 34,375 Diluted weighted-average common shares outstanding 24,230,365 24,202,240 Basic income per share $ 0.00 $ 0.00 Diluted income per share $ 0.00 $ 0.00 During the three months ended March 31, 2016 and 2015, there were 275,000 and 142,500, respectively, of potential common stock equivalents from options were not included in the computation of diluted loss per share because their effect would have been anti-dilutive. |
Note 1 - Basis of Presentatio14
Note 1 - Basis of Presentation and Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the three months ended March 31, 2016 2015 Net income $ 421 $ 11,057 Basic weighted-average common shares outstanding 24,217,865 24,167,865 Effect of dilutive securities Stock options and warrants 12,500 34,375 Diluted weighted-average common shares outstanding 24,230,365 24,202,240 Basic income per share $ 0.00 $ 0.00 Diluted income per share $ 0.00 $ 0.00 |
Note 2 - Investments (Tables)
Note 2 - Investments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Debt and Equity Securities Cost Basis Unrealized Gains Unrealized Losses Fair Value Corporate Debt Securities $ 22,734 $ 1,284 $ - $ 24,018 Total $ 22,734 $ 1,284 $ - $ 24,018 |
Note 4 - Stockholders’ 16
Note 4 - Stockholders’ Equity (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Notes Tables | |
Schedule of Share-based Compensation, Activity [Table Text Block] | Options and Warrants Exercise Price Range Weighted-Average Exercise Price Weighted-Average Life Aggregate Intrinsic Value Balance, December 31, 2015 300,000 $0.05 - $0.17 $ 0.08 5.40 $ - Granted 75,000 0.06 - 0.06 0.06 Expired (25,000 ) 0.17 - 0.17 0.17 Balance, March 31, 2016 350,000 0.05 - 0.12 0.06 5.00 $ 750 Exercisable, March 31, 2016 350,000 $0.05 - $0.12 $ 0.06 5.00 $ 750 Weighted-average fair value of options granted during the three months ended March 31, 2016 $ 0.05 |
Note 5 - Fair Value of Financ17
Note 5 - Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Active Markets Significant for Identical Significant Unobservable Assets Observable Inputs Inputs Total (Level 1) (Level 2) (Level 3) March 31, 2016 Assets: Debt securities available for sale $ 24,018 $ - $ 24,018 $ - December 31, 2015 Assets: Debt securities available for sale $ 23,640 $ - $ 23,640 $ - |
Note 1 - Basis of Presentatio18
Note 1 - Basis of Presentation and Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Other than Temporary Impairment Losses, Investments | $ 0 | $ 0 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 275,000 | 142,500 |
Note 1 - Basis of Presentatio19
Note 1 - Basis of Presentation and Significant Accounting Policies - Schedule of Earnings Per Share (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Net income | $ 421 | $ 11,057 |
Basic weighted-average common shares outstanding (in shares) | 24,217,865 | 24,167,865 |
Effect of dilutive securities | ||
Stock options and warrants (in shares) | 12,500 | 34,375 |
Diluted weighted-average common shares outstanding (in shares) | 24,230,365 | 24,202,240 |
Basic Income Per Common Share (in dollars per share) | $ 0 | $ 0 |
Diluted Income Per Common Share (in dollars per share) | $ 0 | $ 0 |
Note 2 - Investments (Details T
Note 2 - Investments (Details Textual) | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Collateralized Mortgage Obligations [Member] | |
Investment Owned, at Fair Value | $ 3,143 |
Minimum [Member] | |
Investment in real property tax liens, penalty rate | 2.00% |
Maximum [Member] | |
Investment in real property tax liens, penalty rate | 6.00% |
Investment Interest Rate | 18.00% |
Note 2 - Investments - Schedule
Note 2 - Investments - Schedule of Available-For-Sale Equity Securities Reconciliation (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Debt Securities [Member] | ||
Cost Basis | $ 22,734 | |
Unrealized Gains | $ 1,284 | |
Unrealized Losses | ||
Fair Value | $ 24,018 | |
Cost Basis | 22,734 | |
Unrealized Gains | $ 1,284 | |
Unrealized Losses | ||
Fair Value | $ 24,018 | $ 23,640 |
Note 3 - Notes Receivable (Deta
Note 3 - Notes Receivable (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | 27 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Mar. 31, 2016 | |
Notes Receivable [Member] | Minimum [Member] | ||||
Payments to Acquire Notes Receivable, Range | $ 150,000 | |||
Loan Receivable, Interest Rate | 5.00% | |||
Notes Receivable [Member] | Maximum [Member] | ||||
Payments to Acquire Notes Receivable, Range | $ 450,000 | |||
Loan Receivable, Interest Rate | 12.00% | |||
Notes Receivable [Member] | ||||
Payments to Acquire Notes Receivable, Range | $ 1,492,000 | |||
Loan Receivable Term (years) | 1 year | |||
Proceeds from Collection of Notes Receivable | $ 1,919 | $ 272,512 | ||
Notes, Loans and Financing Receivable, Net, Current | 1,073,100 | 1,075,020 | $ 1,073,100 | |
Interest Receivable, Current | 7,523 | $ 7,531 | $ 7,523 | |
Proceeds from Collection of Notes Receivable | $ 1,911 | $ 7,083 |
Note 4 - Stockholders’ 23
Note 4 - Stockholders’ Equity (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Employee Stock Option [Member] | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 0 | |
Allocated Share-based Compensation Expense | $ 3,650 | $ 0 |
Employee [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 75,000 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.06 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value | $ 0.05 | |
Stock Granted, Value, Share-based Compensation, Gross | $ 3,650 | |
Share Price | $ 0.06 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.21% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 116.00% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years | |
Share Based Compensation Arrangement By Share Based Payment Award Options And Warrants Outstanding Intrinsic Value | $ 750 |
Note 4 - Schedule of Share-base
Note 4 - Schedule of Share-based Compensation, Activity (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Minimum [Member] | ||
Optionas and Warrants, Exercise Price Range (in dollars per share) | $ 0.05 | |
Options and Warrants, Granted, Exercise Price Range (in dollars per share) | 0.06 | |
Options and Warrants, Expired, Exercise Price Range (in dollars per share) | 0.17 | |
Optionas and Warrants, Exercise Price Range (in dollars per share) | 0.05 | $ 0.05 |
Exercisable, December 31, 2015, Exercise Price Range (in dollars per share) | 0.05 | |
Maximum [Member] | ||
Optionas and Warrants, Exercise Price Range (in dollars per share) | 0.17 | |
Options and Warrants, Granted, Exercise Price Range (in dollars per share) | 0.06 | |
Options and Warrants, Expired, Exercise Price Range (in dollars per share) | 0.17 | |
Optionas and Warrants, Exercise Price Range (in dollars per share) | 0.12 | $ 0.17 |
Exercisable, December 31, 2015, Exercise Price Range (in dollars per share) | $ 0.12 | |
Options and Warrants, Balance (in shares) | 300,000 | |
Options and Warrants, Weighted Average Exercise Price (in dollars per share) | $ 0.08 | |
Options and Warrants, Weighted-Average Life | 5 years | 5 years 146 days |
Options and Warrants, Granted (in shares) | 75,000 | |
Options and Warrants, Granted, Weighted Average Exercise Price (in dollars per share) | $ 0.06 | |
Expired (in shares) | (25,000) | |
Options and Warrants, Expired, Weighted Average Exercise Price (in dollars per share) | $ 0.17 | |
Options and Warrants, Balance (in shares) | 350,000 | 300,000 |
Options and Warrants, Weighted Average Exercise Price (in dollars per share) | $ 0.06 | $ 0.08 |
Share Based Compensation Arrangement By Share Based Payment Award Options And Warrants Outstanding Intrinsic Value | $ 750 | |
Exercisable, December 31, 2015, Options and Warrants (in shares) | 350,000 | |
Exercisable, December 31, 2015, weighted average exercise price (in dollars per share) | $ 0.06 | |
Exercisable, December 31, 2015, weighted average life | 5 years | |
Weighted-average fair value of options granted during the three months ended March 31, 2016 (in dollars per share) | $ 0.05 |
Note 5 - Schedule of Fair Value
Note 5 - Schedule of Fair Value, Assets Measured On Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets: | ||
Debt securities available for sale | $ 24,018 | $ 23,640 |
Debt securities available for sale | 24,018 | 23,640 |
Debt securities available for sale | 24,018 | 23,640 |
Debt securities available for sale | $ 24,018 | $ 23,640 |
Note 6 - Concentration of Cre26
Note 6 - Concentration of Credit Risk and Significant Customers (Details Textual) - Customer Concentration Risk [Member] | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Customer A [Member] | Accounts Receivable [Member] | ||
Concentration Risk, Percentage | 36.00% | |
Customer A [Member] | Sales Revenue, Goods, Net [Member] | ||
Concentration Risk, Percentage | 37.00% | 35.00% |
Customer B [Member] | Accounts Receivable [Member] | ||
Concentration Risk, Percentage | 42.00% | |
Customer B [Member] | Sales Revenue, Goods, Net [Member] | ||
Concentration Risk, Percentage | 27.00% | 28.00% |