Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 23, 2017 | Jun. 30, 2016 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | SilverSun Technologies, Inc. | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 4,489,903 | ||
Entity Public Float | $ 2,102,553 | ||
Amendment Flag | false | ||
Entity Central Index Key | 1,236,275 | ||
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 | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 1,621,049 | $ 1,193,313 |
Accounts receivable, net of allowance of $375,000 | 2,501,621 | 2,477,301 |
Unbilled services | 463,563 | 741,543 |
Prepaid expenses and other current assets | 331,094 | 443,619 |
Deferred tax assets - current | 355,000 | 38,000 |
Total current assets | 5,272,327 | 4,893,776 |
Property, plant and equipment, net | 466,202 | 425,347 |
Intangible assets, net | 2,431,111 | 2,571,537 |
Goodwill | 401,000 | 401,000 |
Deferred tax assets | 2,059,902 | 162,000 |
Deposits and other assets | 28,887 | 29,889 |
Total assets | 10,659,429 | 8,483,549 |
Current liabilities: | ||
Accounts payable | 1,822,071 | 1,594,100 |
Accrued expenses | 823,591 | 821,586 |
Accrued interest | 15,533 | 14,817 |
Income taxes payable | 177,466 | 250,284 |
Contingent consideration – current portion | 180,029 | 128,434 |
Long term debt – current portion | 306,677 | 300,033 |
Capital lease obligations – current portion | 94,714 | 90,167 |
Deferred revenue | 1,690,147 | 2,369,999 |
Total current liabilities | 5,110,228 | 5,569,420 |
Contingent consideration net of current portion | 31,685 | 272,213 |
Long term debt net of current portion | 486,473 | 793,150 |
Capital lease obligations net of current portion | 60,127 | 92,445 |
Convertible note payable | 0 | 200,000 |
Total liabilities | 5,688,513 | 6,927,228 |
Commitments and Contingencies | ||
Stockholders’ equity: | ||
Preferred stock, value | 0 | 0 |
Common stock, value | 46 | 45 |
Additional paid-in capital | 12,176,642 | 12,198,448 |
Accumulated deficit | (7,205,773) | (10,642,172) |
Total stockholders’ equity | 4,970,916 | 1,556,321 |
Total liabilities and stockholders’ equity | 10,659,429 | 8,483,549 |
Series A Preferred Stock [Member] | ||
Stockholders’ equity: | ||
Preferred stock, value | 0 | 0 |
Series B Preferred Stock [Member] | ||
Stockholders’ equity: | ||
Preferred stock, value | $ 1 | $ 0 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts receivable, allowance (in Dollars) | $ 375,000 | $ 375,000 |
Preferred stock, authorized | 1,000,000 | 1,000,000 |
Preferred stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Par value (in Dollars per share) | $ 0.00001 | $ 0.00001 |
Authorized | 75,000,000 | 75,000,000 |
Issued | 4,477,403 | 4,410,736 |
Outstanding | 4,477,403 | 4,410,736 |
Series A Preferred Stock [Member] | ||
Preferred stock, authorized | 2 | 2 |
Preferred stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Series B Preferred Stock [Member] | ||
Preferred stock, authorized | 1 | 1 |
Preferred stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, issued | 1 | 0 |
Preferred stock, outstanding | 1 | 0 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Revenues: | ||
Software product, net | $ 4,707,546 | $ 4,234,968 |
Service, net | 29,414,424 | 23,407,014 |
Total revenues, net | 34,121,970 | 27,641,982 |
Cost of revenues: | ||
Product | 2,485,141 | 2,084,246 |
Service | 18,909,587 | 14,714,202 |
Total cost of revenues | 21,394,728 | 16,798,448 |
Gross profit | 12,727,242 | 10,843,534 |
Operating expenses: | ||
Selling and marketing expenses | 4,358,234 | 4,304,224 |
General and administrative expenses | 6,374,210 | 5,635,571 |
Share-based compensation | 42,795 | 60,860 |
Depreciation and amortization | 684,660 | 485,091 |
Total operating expenses | 11,459,899 | 10,485,746 |
Income from operations | 1,267,343 | 357,788 |
Other (expense) income: | ||
Interest expense, net | (64,678) | (57,483) |
Other income | 10,000 | 134,000 |
Total other (expense) income | (54,678) | 76,517 |
Income before income taxes | 1,212,665 | 434,305 |
Income tax (benefit) provision | (2,223,734) | 60,000 |
Net income | $ 3,436,399 | $ 374,305 |
Basic and diluted net income per common share | ||
Basic (in Dollars per share) | $ 0.78 | $ 0.09 |
Diluted (in Dollars per share) | $ 0.77 | $ 0.09 |
Weighted average shares outstanding: | ||
Basic (in Shares) | 4,414,743 | 4,301,782 |
Diluted (in Shares) | 4,473,403 | 4,318,449 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) | Series A Preferred Stock [Member]Preferred Stock [Member] | Series B Preferred Stock [Member]Preferred Stock [Member] | Common Class A [Member]Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2014 | $ 0 | $ 1 | $ 40 | $ 11,030,043 | $ (11,016,477) | $ 13,607 |
Balance (in Shares) at Dec. 31, 2014 | 0 | 1 | 3,959,064 | |||
Roundup of fractional shares (in Shares) | 8,698 | |||||
Issuance of common stock for services | 36,300 | 36,300 | ||||
Issuance of common stock for services (in Shares) | 15,000 | |||||
Issuance of common stock for acquisition | $ 1 | 259,225 | 259,226 | |||
Issuance of common stock for acquisition (in Shares) | 64,484 | |||||
Cancellation of preferred share | $ (1) | 1 | ||||
Cancellation of preferred share (in Shares) | (1) | |||||
Issuance of stock, net of fees | $ 4 | 812,019 | 812,023 | |||
Issuance of stock, net of fees (in Shares) | 363,490 | |||||
Share-Based Compensation | 40,860 | 40,860 | ||||
Stock warrants in exchange for services | 20,000 | 20,000 | ||||
Net income (loss) | 374,305 | 374,305 | ||||
Balance at Dec. 31, 2015 | $ 0 | $ 0 | $ 45 | 12,198,448 | (10,642,172) | 1,556,321 |
Balance (in Shares) at Dec. 31, 2015 | 0 | 0 | 4,410,736 | |||
Issuance of stock, net of fees | $ 1 | 99 | 100 | |||
Issuance of stock, net of fees (in Shares) | 1 | |||||
Convertible note conversion into common stock | $ 1 | 199,999 | 200,000 | |||
Convertible note conversion into common stock (in Shares) | 66,667 | |||||
Cash dividend | (264,699) | (264,699) | ||||
Share-Based Compensation | 42,795 | 42,795 | ||||
Net income (loss) | 3,436,399 | 3,436,399 | ||||
Balance at Dec. 31, 2016 | $ 1 | $ 46 | $ 12,176,642 | $ (7,205,773) | $ 4,970,916 | |
Balance (in Shares) at Dec. 31, 2016 | 1 | 4,477,403 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities: | ||
Net income | $ 3,436,399 | $ 374,305 |
Adjustments to reconcile net income to net cash Provided by operating activities: | ||
Gain on sale of Beerrun | 0 | (134,000) |
Deferred income taxes | (2,214,902) | (162,000) |
Depreciation and amortization | 232,316 | 165,597 |
Amortization of intangibles | 452,344 | 319,495 |
Provision for bad debts | 0 | 250,000 |
Share-based compensation | 42,795 | 40,860 |
Common stock issued in exchange for services | 0 | 36,300 |
Stock warrants in exchange for services | 0 | 20,000 |
Changes in certain assets and liabilities: | ||
Accounts receivable | (24,320) | (269,658) |
Unbilled services | 277,980 | (501,174) |
Prepaid expenses and other current assets | 112,525 | (135,518) |
Deposits and other assets | 1,002 | 836 |
Accounts payable | 227,970 | (175,295) |
Accrued expenses | 2,005 | 27,429 |
Income tax payable | (72,818) | 174,284 |
Accrued interest | 716 | 102 |
Deferred revenues | (679,852) | 95,096 |
Net cash provided by operating activities | 1,794,160 | 126,659 |
Cash flows from investing activities: | ||
Proceeds from sale of Beerrun | 0 | 134,000 |
Software development costs | (311,917) | 0 |
Acquisition of business | 0 | (709,893) |
Purchases of property and equipment | (184,802) | (67,483) |
Net cash (used in) investing activities | (496,719) | (643,376) |
Cash flows from financing activities: | ||
Payment of cash dividend | (264,699) | 0 |
Proceeds from issuance of preferred stock | 100 | 0 |
Proceeds from issuance of common stock and warrants, net of fees | 0 | 812,023 |
Repayment of contingent consideration | (188,933) | (49,980) |
Repayments of long term debt | (300,033) | (274,321) |
Principal payment under capital lease obligations | (116,140) | (86,029) |
Net cash (used in) provided by financing activities | (869,705) | 401,693 |
Net increase (decrease) in cash and cash equivalents | 427,736 | (115,024) |
Cash and cash equivalents, beginning of year | 1,193,313 | 1,308,337 |
Cash and cash equivalents, end of year | 1,621,049 | 1,193,313 |
During the year, cash was paid for the following: | ||
Income taxes | 100,885 | 87,732 |
Interest | $ 64,462 | $ 60,579 |
SUPPLEMENTAL SCHEDULE OF NON-CA
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | 12 Months Ended |
Dec. 31, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Cash Flow, Supplemental Disclosures [Text Block] | SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: For the Year Ended December 31, 2016: The Company incurred approximately $88,369 in capital lease obligations. On December 9, 2016 the $200,000 Oates Convertible Note was converted into 66,667 shares of Common Stock. For the Year Ended December 31, 2015: The Company acquired certain assets and assumed certain liabilities of ProductiveTech, Inc. (“PTI”) for a $600,000 promissory note in addition to a cash payment of $483,471 and issuance of 64,484 shares of common stock at $4.032 per share for a value of approximately $260,000. The Company acquired certain assets of 2000 Soft d/b/a/ Accounting Technologies Resources (“ATR”) for a $175,000 promissory note in addition to a cash payment of $80,000. On March 29, 2015, Mr. Meller returned his one share of Series B Preferred Stock (the “Series B Preferred”) to the Company and with the approval of the majority of the Company’s stockholders and the Board of Directors the Series B Preferred Stock was canceled in its entirety. The Company incurred approximately $111,730 in capital lease obligations. The Company acquired certain assets and assumed certain liabilities of The Macabe Associates, Inc. (“Macabe”) for a cash payment of $21,423 in addition to four-year revenue share agreement valued at $428,971. The Company acquired certain assets and assumed certain liabilities of Oates & Company, LLC. (“Oates”) for a $175,000 promissory note in addition to a cash payment of $125,000 and $200,000 convertible note. |
NOTE 1 - DESCRIPTION OF BUSINES
NOTE 1 - DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 – DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION SilverSun Technologies, Inc. (the “Company”) and wholly owned subsidiary SWK Technologies, Inc. (“SWK”) is a value added reseller and master developer for Sage Software’s Sage100/500 and ERP X3 financial and accounting software as well as the publisher of proprietary software solutions, including its own proprietary Electronic Data Interchange (EDI) software, “MAPADOC.” The Company is also a managed network service provider, providing remote network monitoring services, business continuity, disaster recovery, data backup, and application hosting. The Company sells services and products to various industries including, but not limited to, manufacturers, wholesalers and distributors located throughout the United States. The Company is publicly traded and is currently quoted on the Over-the-Counter Bulletin Board (“OTCQB”) under the symbol “SSNT.” In March of 2015, the Company completed the purchase of selected assets of 2000 SOFT, d/b/a Accounting Technology Resources (“ATR”), a Southern California based reseller of Sage Software applications. ATR’s customers and business products and services have been integrated into the infrastructure of SWK. In July of 2015, the Company completed the purchase of selected assets of ProductiveTech, Inc. (“PTI”) located in Southern New Jersey. PTI’s selected assets and liabilities, customers and business products and services have been integrated into the infrastructure of SWK. In October of 2015, the Company completed the purchase of selected assets of The Macabe Associates, Inc., (“Macabe”) a Washington based reseller of Sage Software and Acumatica applications. Macabe’s customers and business products and services have been integrated into the infrastructure of SWK. In October of 2015, the Company completed the purchase of selected assets of Oates & Company, (“Oates”) a North Carolina reseller of Sage Software applications. Oates selected assets and liabilities, customers and business products and services have been integrated into the infrastructure of SWK. |
NOTE 2 - SUMMARY OF SIGNIFICANT
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements include the accounts of the “Company” and its wholly-owned subsidiary, SWK Technologies, Inc. (“SWK”). These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States. All significant inter-company transactions and accounts have been eliminated in consolidation. On February 4, 2015 the Company effected a 1-for-30 reverse stock split of the outstanding common stock (the “Reverse Stock Split”) whereby every thirty (30) shares of outstanding common stock decreased to one (1) share of common stock. Similarly, the number of shares of common stock, par value $0.00001 (“Common Stock”) into which each outstanding option and warrant to purchase common stock is to be exercisable decreased on a 1-for-30 basis and the exercise price of each outstanding option and warrant to purchase common stock increased proportionately. The impact of this reverse stock split has been retroactively applied to the financial statements and the related notes. Principal of Consolidation The consolidated financial statements include the accounts of SilverSun and its subsidiary SWK, which is wholly owned. All significant intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Goodwill Goodwill is the excess of acquisition cost of an acquired entity over the fair value of the identifiable net assets acquired. Goodwill is not amortized, but tested for impairment annually or whenever indicators of impairment exist. These indicators may include a significant change in the business climate, legal factors, operating performance indicators, competition, sale or disposition of a significant portion of the business or other factors. No impairment losses were identified or recorded in the years ended December 31, 2016 and 2015. Definite Lived Intangible Assets and Long-lived Assets Purchased intangible assets are recorded at fair value using an independent valuation at the date of acquisition and are amortized over the useful lives of the asset using the straight-line amortization method. The Company assesses potential impairment of its intangible assets and other long-lived assets when there is evidence that recent events or changes in circumstances have made recovery of an asset’s carrying value unlikely. Factors the Company considers important, which may cause impairment include, among others, significant changes in the manner of use of the acquired asset, negative industry or economic trends, and significant underperformance relative to historical or projected operating results. No impairment losses were identified or recorded in the years ended December 31, 2016 and 2015. Revenue Recognition Revenue is recognized when products are shipped, or services are rendered, evidence of a contract exists, the price is fixed or reasonably determinable, and collectability is reasonably assured. Product Revenue Software product revenue is recognized when the product is shipped to the customer. The Company treats the software component and the professional services consulting component as two separate arrangements that represent separate units of accounting. The arrangement consideration is allocated to each unit of accounting based upon that unit’s proportion of the fair value. In a situation where both components are present, software sales revenue is recognized when collectability is reasonably assured and the product is delivered and has stand-alone value based upon vendor specific objective evidence. Service Revenue Service revenue is comprised of primarily professional service consulting revenue, maintenance revenue and other ancillary services provided. Professional service revenue is recognized as service time is incurred. With respect to maintenance services, upon the completion of one year from the date of sale, the Company offers customers an optional annual software maintenance and support agreement for subsequent periods not exceeding one year. Maintenance and support agreements are recorded as deferred revenue and recognized over the respective terms of the agreements, which typically range from three months to one year and are included in services revenue in the Consolidated Statements of Income. Shipping and handling costs charged to customers are classified as revenue, and the shipping and handling costs incurred are included in cost of sales. Unbilled Services The Company recognizes revenue on its professional services as those services are performed or certain obligations are met. Unbilled services represent the revenue recognized but not yet invoiced. Deferred Revenues Deferred revenues consist of maintenance service, customer support services, including telephone support and deposits for future consulting services which will be earned as services are performed over the contractual or stated period, which generally ranges from three to twelve months. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. The Company maintains cash balances at financial institutions that are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to federally insured limits. At times balances may exceed FDIC insured limits. The Company has not experienced any losses in such accounts. Concentrations The Company maintains its cash and cash equivalents with various institutions, which exceed federally insured limits throughout the year. At December 31, 2016, the Company had cash on deposit of approximately $1,280,695 in excess of the federally insured limits of $250,000. For the years ended December 31, 2016 and 2015, our top ten customers accounted for 19% ($6,574,232) and 19% ($5,179,085), respectively, of our total revenues. The Company does not rely on any one specific customer for any significant portion of our revenue base. For both the years ended December 31 2016 and 2015, purchases from one supplier through a “channel partner” agreement were approximately 24%. This channel partner agreement is for a one year term and automatically renews for an additional one year term on the anniversary of the agreements effective date. For the years ended December 31, 2016 and 2015, one supplier represented approximately 42% and 33% of total accounts payable, respectively. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of trade accounts receivable and cash and cash equivalents. As of December 31, 2016 the Company believes it has no significant risk related to its concentration of accounts receivable. Accounts Receivable Accounts receivable consist primarily of invoices for maintenance and professional services. Full payment for software ordered by customers is due in advance of ordering from the software supplier. Payments for maintenance and support plan renewals are due before the beginning of the maintenance period. Terms under our professional service agreements are generally 50% due in advance and the balance on completion of the services. The Company maintains an allowance for bad debt estimated by considering a number of factors, including the length of time the amounts are past due, the Company’s previous loss history, the customer’s current ability to pay its obligations. Property and Equipment Property and equipment is stated at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method based upon the estimated useful lives of the assets, generally three to seven years. Maintenance and repairs that do not materially add to the value of the equipment nor appreciably prolong its life are charged to expense as incurred. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss is included in the Consolidated Statements of Income. Income Taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as net operating loss carryforwards. Deferred tax assets and liabilities are classified as current or non-current based on the classification of the related assets or liabilities for financial reporting, or according to the expected reversal dates of the specific temporary differences, if not related to an asset or liability for financial reporting. Valuation allowances are established against deferred tax assets if it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates or laws is recognized in operations in the period that includes the enactment date. The Company has federal net operating loss (“NOL”) carryforwards which are subject to limitations under Section 382 of the Internal Revenue Code. The Company files income tax returns in the U.S. federal and state jurisdictions. Tax years 2013 to 2016 remain open to examination for both the U.S. federal and state jurisdictions. There were no liabilities for uncertain tax positions at December 31, 2016 and 2015. Fair Value Measurement The accounting standards define fair value and establish a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use on unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. The Company’s current financial assets and liabilities approximate fair value due to their short term nature and include cash, accounts receivable, accounts payable, and accrued liabilities. The carrying value of longer term lease and debt obligations approximate fair value as their stated interest rates approximate the rates currently available. The Company’s goodwill and intangibles are measured on a non-recurring basis using Level 3 inputs, as discussed in Note 5 and Note 9. Stock-Based Compensation Compensation expense related to share-based transactions, including employee stock options, is measured and recognized in the financial statements based on a determination of the fair value. The grant date fair value is determined using the Black-Scholes-Merton (“Black-Scholes”) pricing model. For employee stock options, the Company recognizes expense over the requisite service period on a straight-line basis (generally the vesting period of the equity grant). The Company’s option pricing model requires the input of highly subjective assumptions, including the expected stock price volatility, expected term, and forfeiture rate. Any changes in these highly subjective assumptions significantly impact stock-based compensation expense. Recently Adopted Authoritative Pronouncements In August 2014, the FASB issued Accounting Standard Update 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Management of public and private companies will be required to evaluate whether there are conditions and events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the financial statements are issued (or available to be issued when applicable) and, if so, disclose that fact. Management will be required to make this evaluation for both annual and interim reporting periods, if applicable. The standard is effective for annual periods ending after December 15, 2016 and interim periods ending after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. This adoption did not have a material impact on the Company’s consolidated financial statements. Recent Authoritative Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers: Identifying performance obligations and licensing, In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classifications of Deferred Taxes |
NOTE 3 - NET INCOME PER COMMON
NOTE 3 - NET INCOME PER COMMON SHARE | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | NOTE 3 – NET INCOME PER COMMON SHARE The Company’s basic income per common share is based on net income for the relevant period, divided by the weighted average number of common shares outstanding during the period. Diluted income per common share is based on net income, divided by the weighted average number of common shares outstanding during the period, including common share equivalents, such as outstanding option and warrants to the extent they are dilutive. The computation of diluted income per share for the year ended December 31, 2016 and December 31, 2015 does not include share equivalents as all warrants and options exceeded the average market price of the common stock. Convertible debt is included below, based on if-converted method. Year Ended December 31, 2016 Year Ended December 31, 2015 Basic net income per share: Net income $ 3,436,399 $ 374,305 Weighted-average common shares outstanding 4,414,743 4,301,782 Basic net income per shares $ 0.78 $ 0.09 Diluted net income per share: Net income $ 3,436,399 $ 374,305 Weighted-average common shares outstanding 4,473,403 4,301,782 Incremental shares for convertible promissory note - 16,667 Total adjusted weighted-average shares 4,473,403 4,318,449 Diluted net income per share $ 0.77 $ 0.09 The following table summarizes securities that, if exercised, would have an anti-dilutive effect on earnings per share. Year Ended December 31, 2016 Year Ended December 31, 2015 Stock options 143,576 183,576 Warrants 203,253 203,253 Total potential dilutive securities not included in loss per share 346,829 386,829 |
NOTE 4 - PROPERTY AND EQUIPMENT
NOTE 4 - PROPERTY AND EQUIPMENT | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 4 – PROPERTY AND EQUIPMENT Property and equipment is summarized as follows: December 31, 2016 December 31, 2015 Leasehold improvements $ 30,557 $ 30,557 Equipment, furniture and fixtures 1,744,439 1,471,268 1,774,996 1,501,825 Less: Accumulated depreciation (1,308,794 ) (1,076,478 ) Property and equipment, net $ 466,202 $ 425,347 Depreciation and amortization expense related to these assets for the years ended December 31, 2016 and 2015 was $232,316 and $165,597. Property and equipment under capital leases are summarized as follows: December 31, 2016 December 31, 2015 Equipment, furniture and fixtures 521,905 433,536 Less: Accumulated depreciation (335,672 ) (232,228 ) Property and equipment, net $ 186,233 $ 201,308 |
NOTE 5 - INTANGIBLE ASSETS
NOTE 5 - INTANGIBLE ASSETS | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 5 – INTANGIBLE ASSETS Intangible assets consist of developed intellectual property carried at cost less accumulated amortization and customer lists acquired at fair value less accumulated amortization. Amortization is computed using the straight-line method over the estimated useful lives. The components of intangible assets are as follows: December 31, 2016 December 31, 2015 Estimated Useful Lives Proprietary developed software $ 677,829 $ 365,911 5 Intellectual property, customer list, and acquired contracts 3,069,551 3,069,551 5 – 15 Total intangible assets $ 3,747,380 $ 3,435,462 Less: accumulated amortization (1,316,269 ) (863,925 ) $ 2,431,111 $ 2,571,537 Amortization expense related to the above intangible assets was $452,344 and $319,495, respectively, the years ended December 31, 2016 and 2015. Included in proprietary developed software is $311,917 not yet in service. The Company expects future amortization expense to be the following: Amortization 2017 $ 355,797 2018 299,828 2019 299,828 2020 282,603 2021 246,053 thereafter 947,002 Total $ 2,431,111 |
NOTE 6 - LINE OF CREDIT AND TER
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE | 12 Months Ended |
Dec. 31, 2016 | |
Line of Credit and Term Loan [Abstract] | |
Line of Credit and Term Loan [Text Block] | NOTE 6 – LINE OF CREDIT, TERM LOAN AND PROMISSORY NOTE On August 1, 2013, the Company obtained a line of credit and term loan from the bank. The line of credit expired on July 31, 2015 and was automatically renewed for an additional year. The agreement included a borrowing base calculation tied to accounts receivable with a maximum availability of $750,000 at prime plus 1.75% interest (5.25% at December 31, 2015). The line was collateralized by substantially all of the assets of the Company and guaranteed by the Company’s Chief Executive Officer, Mr. Meller. The credit facility required the Company to pay a monitoring fee of $1,000 monthly. The line of credit was cancelled on July 31, 2016 On July 21, 2016, SWK entered into a Revolving Demand Note (the “Revolving Demand Note”) by and between SWK (the “Borrower”) and M&T Bank (“Lender”), a commercial lender. The Lender has agreed to loan SWK up to a principal amount of one million dollars. The interest rate on the Revolving Demand Note shall be a variable rate, equal to the “Prime Rate”, plus ninety-five one-hundredths percent (0.95%) per annum. There is a minimum interest rate floor of four percent (4%). The Revolving Demand Note is secured by all of the Borrower’s assets pursuant to a Security Agreement. Furthermore, on July 21, 2016, the Company and Mr. Mark Meller, individually, entered into Unlimited Guaranty agreements (the “Guaranty Agreements”) with the Lender. The line is also collateralized by substantially all of the assets of the Company. Under the Guaranty Agreements, the Company and Mr. Meller personally, jointly and severally guaranteed the liabilities of the Borrower due and owing under the terms of the Revolving Demand Note. At December 31, 2016 the outstanding balance was $0. A two year term loan for $350,000 matured on July 31, 2015. Monthly payments were $15,776 including interest at 8%. The term loan was collateralized by substantially all of the assets of the Company and was guaranteed by the Company’s Chief Executive Officer, Mr. Meller. On May 6, 2014, SWK acquired certain assets of ESC, Inc. pursuant to an Asset Purchase Agreement for a promissory note in the aggregate principal amount of $350,000 (the “ESC Note”). The ESC Note matures on April 1, 2019. Monthly payments are $6,135 including interest at 2% per year. At December 31, 2016 the outstanding balance was $173,535. On March 11, 2015, SWK acquired certain assets of 2000 SOFT, Inc. d/b/a Accounting Technology Resource (ATR) pursuant to an Asset Purchase Agreement for cash of $80,000 and a promissory note for $175,000 (the “ATR Note”). The note matures on February 1, 2018. Monthly payments are $5,012 including interest at 2% per year. At December 31, 2016 the outstanding balance was $74,194. On July 6, 2015, SWK acquired certain assets of ProductiveTech Inc. (PTI) pursuant to an Asset Purchase Agreement cash of $500,000 and a promissory note for $600,000 (the “PTI Note”). The note is due in 60 months from the closing date and bears interest at a rate of two and one half (2.5%) percent. The monthly payments including interest are $10,645. At December 31, 2016 the outstanding balance was $437,403. On October 19, 2015, SWK acquired certain assets of Oates & Company, LLC (Oates) pursuant to an Asset Purchase Agreement cash of $125,000 and a promissory note for $175,000 (the “Oates Note”). The note is due in three years from the closing date and bears interest at a rate of two (2%) percent. The monthly payments including interest are $5,012. At December 31, 2016 the outstanding balance was $108,018. Additionally, in connection with the purchase agreement, the Company issued a Convertible Note (the “Convertible Note”) for $200,000. The Convertible Note was due January 1, 2017 and bore interest at a rate of one (1%) percent. The quarterly interest payments were computed on the basis of 365-day year from the date of this note until paid. The Company could, at its sole and exclusive option, convert, at any time until payment in full of this Note, all or any part of the principal amount of the Note plus accrued interest, into shares of the Company’s Common Stock, at the price per share equal to $3.00 per share. On December 9, 2016 the convertible note was converted into 66,667 shares of Common Stock. At December 31, 2016, future payments of promissory notes are as follows over each of the next five fiscal years: 2017 $ 306,677 2018 257,846 2019 154,727 2020 73,900 Total $ 793,150 |
NOTE 7 - CAPITAL LEASE OBLIGATI
NOTE 7 - CAPITAL LEASE OBLIGATIONS | 12 Months Ended |
Dec. 31, 2016 | |
Leases, Capital [Abstract] | |
Capital Leases in Financial Statements of Lessee Disclosure [Text Block] | NOTE 7 – CAPITAL LEASE OBLIGATIONS The Company has entered into lease commitments for equipment that meet the requirements for capitalization. The equipment has been capitalized and is included property and equipment, net in the accompanying balance sheets. The related obligations are based upon the present value of the future minimum lease payments with interest rates ranging from 7.1% to 10.4%. At December 31, 2016, future payments under capital leases are as follows: 2017 $ 103,353 2018 60,631 2019 1,785 Total minimum lease payments 165,769 Less amounts representing interest (10,928 ) Present value of net minimum lease payments 154,841 Less current portion (94,714 ) Long-term capital lease obligation $ 60,127 |
NOTE 8 - EQUITY
NOTE 8 - EQUITY | 12 Months Ended |
Dec. 31, 2016 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 8 – EQUITY Equity On March 10, 2015, March 23, 2015 and March 24, 2015, the Company entered into subscription agreements (the “Subscription Agreements”) with certain investors (the “Investors”) providing for the issuance and sale by the Company (the “Offering”) of an aggregate of 363,490 shares (the “Shares”) of Common Stock and warrants (the “Investor Warrants”) to purchase an aggregate of 181,745 shares of Common Stock (the “Warrant Shares”). Each Warrant to purchase one share of Common Stock was sold at a price of $0.01 and has an exercise price of $5.30 per share. The gross proceeds raised was $1,543,015 less expenses relating to the Offering of $730,992, resulting in net proceeds to the Company of $812,023. On March 29, 2015, Mr. Meller returned and cancelled his one share of Series B Preferred Stock (the “Series B Preferred”) to the Company. Also on March 29, 2015, subject to shareholder approval, the Board approved the cancellation of the Company’s Series B Preferred Stock certificate of designation. The Company subsequently did not receive shareholder approval for the cancellation of the Series B Preferred designation and the series B Preferred remained authorized but unissued. On April 29, 2015 the Board approved entering into a consulting agreement with Christopher IR for investor relation services. In addition to cash payments for services, the Company issued 15,000 shares of Common Stock at $2.42 per share or $36,300. On July 6, 2015 the Company in relation to the acquisition of certain assets of PTI had issued 64,484 shares of Common Stock at $4.032 per share for a value of $260,000. The stock price was based on the average close price of SSNT stock for the five trading days immediately preceding the closing date. On January 11, 2016, the Company announced the payment of a $0.06 special cash dividend per share of Common Stock. The dividend payments were paid out on January 20, 2016 for an aggregate amount of $264,699, which reduced additional paid in capital. On July 28, 2016 (the “ Effective Date Preferred Stock Purchase Agreement Certificate of Designation Delaware Secretary of State Options In March 2015, the Company granted 10,000 incentive stock options with an exercise price of $4.00 per option to a certain non-executive employee under the 2004 Stock Incentive Plan. The Company recognizes compensation cost on awards on a straight-line basis over the vesting period, approximately five years. The Company estimated the fair value of each option using the Black Scholes option-pricing model with the following weighted-average assumptions: expected dividend yield of 0.0%, risk-free interest rate of 1.6%, volatility at 263.18% and an expected life of 5 years. As a result, the Company estimated the value of these options at $39,875. In October 2015, the Company issued to the shareholders of Macabe 25,000 incentive stock options with an exercise price of $3.66. Options will vest over five years at the rate of 20% per annum. The Company estimated the fair value of each option using the Black Scholes option-pricing model with the following weighted-average assumptions: expected dividend yield of 0.0%, risk-free interest rate of 1.37%, volatility at 332.76% and an expected life of 5 years. As a result, the Company estimated the value of these options at $91,482. In November 2016, the Company reduced the exercise price of previously granted options to Mr. Richard Schatzberg from $4.50 to $2.35. The Company uses judgment in estimating the amount of stock-based awards that are expected to be forfeited. If actual forfeitures differ significantly from the original estimate, stock-based compensation expense and the results of operations could be impacted. Total stock compensation recognized for the year ended December 31, 2016 and 2015 was $42,795 and $40,860, respectively. A summary of the status of the Company’s stock option plans for the fiscal years ended December 31, 2016 and 2015 and changes during the years are presented below (in number of options): Number of Options Average Exercise Price Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding options at January 1, 2015 163,846 $ 4.65 2.5 years $ -0- Options granted 35,000 3.76 4.2 years Options canceled/forfeited (15,270 ) $ 4.61 Outstanding options at December 31, 2015 183,576 $ 4.49 2.7 years $ -0- Options granted - $ - Options canceled/forfeited (40,000 ) $ 4.50 Outstanding options at December 31, 2016 143,576 $ 4.33 1.6 years $ -0- Vested Options: December 31, 2016; 103,575 $ 4.47 1.0 years $ -0- December 31, 2015: 119,243 $ 4.70 2.0 years $ -0- For the year ended December 31, 2016 the unamortized compensation expense for stock options was $112,261. Unamortized compensation expense is expected to be recognized over a weighted-average period of three years. Warrants On January 29, 2015 the Company granted 3,333 warrants with a fair value of approximately $19,969, which immediately vested, to Joseph Macaluso as part of his compensation for agreeing to join the Board of Directors. The estimated fair value of the warrant has been calculated based on a Black-Scholes pricing model using the following assumptions: a) fair market value of stock of $6.00; b) exercise price of $6.00; c) Dividend yield of 0%; d) Risk free interest rate of 1.42%; e) expected volatility of 284.28%; f) Expected life of 5 years. On March 9, 2015 the Company granted 18,175 warrants with a fair value of approximately $73,356, which immediately vested, to Alexander Capital, LP as partial compensation for acting as placement agent. The estimated fair value of the warrant has been calculated based on a Black-Scholes pricing model using the following assumptions: a) fair market value of stock of $4.05; b) exercise price of $5.088; c) Dividend yield of 0%; d) Risk free interest rate of 1.66%; e) expected volatility of 263.67%; f) Expected life of 5 years. On March 23, 2015 the Company granted 181,745 warrants with a fair value of approximately $638,630, which immediately vested, to those that purchased common stock as part of the Offering. The estimated fair value of the warrant has been calculated based on a Black-Scholes pricing model using the following assumptions: a) fair market value of stock of $3.53; b) exercise price of $5.30; c) Dividend yield of 0%; d) Risk free interest rate of 1.41%; e) expected volatility of 258.39%; f) Expected life of 5 years. The following table summarizes the warrants transactions: Warrants Outstanding Weighted Average Exercise Price Balance, January 1, 2015 - $ - Granted 203,253 $ 5.29 Exercised - $ Canceled - $ - Outstanding and Exercisable December 31, 2015 203,253 $ 5.29 Granted - $ - Exercised - $ - Canceled - $ - Outstanding and Exercisable December 31, 2016 203,253 $ 5.29 |
NOTE 9 - BUSINESS COMBINATION
NOTE 9 - BUSINESS COMBINATION | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | NOTE 9 – BUSINESS COMBINATION On March 11, 2015 SWK entered into an Asset Purchase Agreement with 2000 SOFT, Inc. d/b/a ATR, a California corporation, and Karen Espinoza McGarrigle in her individual capacity as Shareholder. SWK acquired certain assets of ATR (as defined in the Purchase Agreement). In consideration for the acquired assets, the Company issued a promissory note in the aggregate principal amount of $175,000 and paid cash of $80,000. As additional consideration, the Company will pay 10% of the net margin on maintenance renewals for former ATR customers for the first twelve months and 5% of the net margin on maintenance renewals for the following twelve months. The initial contingent consideration was estimated at approximately $22,000 and included in the purchase price (see table below). Certain payments were made during 2016 and 2015, resulting in a remaining balance of $29 at December 31, 2016. The purchase was allocated, based on the Company’s estimate of fair value, to intangible assets, which consists of a customer list with an estimated life of seven years. On July 6, 2015 SWK entered into an Asset Purchase Agreement with ProductiveTech (“PTI”), a south New Jersey corporation and John McPoyle and Kevin Snyder in their individual capacity as Shareholders. SWK acquired certain assets and liabilities of PTI (as defined in the Purchase Agreement). In consideration for the acquired assets, the Company paid $483,471 in cash and issued a promissory note for $600,000 (the “Note”). The note is due in 60 months from the closing date and bears interest at a rate of two and one half (2.5%) percent. The monthly payments including interest are $10,645. Additionally, in connection with the purchase agreement, SilverSun Technologies, Inc. (“SSNT”) issued 64,484 shares of common stock at $4.032 per share for a value of $260,000. The purchase was allocated, based on the Company’s estimate of fair value, to accounts receivable, unbilled services, prepaid expenses and other assets, property and equipment, liabilities, capital lease obligations, goodwill and customer list with an estimated life of fifteen years. The acquisition costs and allocation of the purchase price to customer lists and goodwill has been based of an independent valuation. On October 1, 2015 SWK entered into an Asset Purchase Agreement with The Macabe Associates, Inc., (“Macabe”), a Washington corporation and Mary Abdian and John Nicholson in their individual capacity as Shareholders. SWK acquired certain assets and liabilities of Macabe (as defined in the Purchase Agreement). In consideration for the acquired assets, the Company paid $21,423 in cash. As additional consideration, the Company paid $5,500 cash after twelve months from closing and will pay $5,500 cash twenty-four months from closing on the net-to-SWK revenues for Software and Maintenance sales if certain estimates are met for a total of $11,000 and was recorded as part of the contingent consideration included in the purchase price. Additionally, the Company will pay 35% of the net margin on software maintenance renewals for former Macabe customers for the first twelve months, and then 30%, 25% and 20% of the net margin on software maintenance renewals for the following three years. The Company will also pay 50% the first year, and 40%, 30% and 20% the three years after on the net margin on EASY Solution Maintenance, new software & license to existing Macabe customers and EASY Solutions software and maintenance sales to new customers. On any former Macabe customers migrating to Netsuite, X3 or Acumatica, the Company will pay 50% of the net margin of the sale after applicable costs and commissions for the three years period after the acquisition. The Company estimated this contingent consideration to be approximately $417,971 at acquisition and which is included in the purchase price. Certain payments were made in each of these contingent consideration components, resulting in a remaining balance of $211,685 as of December 31, 2016. The purchase was allocated, based on the Company’s estimate of fair value, to proprietary software solutions with an estimated useful life of five years, goodwill and customer list with an estimated life of fifteen years. The acquisition costs and allocation of the purchase price to customer lists and goodwill has been based on an independent valuation. On October 19, 2015 SWK entered into an Asset Purchase Agreement with Oates & Company, (“Oates”) a North Carolina reseller and Chris Oates in his individual capacity as Shareholder. SWK acquired certain assets of Oates (as defined in the Purchase Agreement). In consideration for the acquired assets, the Company issued a promissory note in the aggregate principal amount of $175,000 and paid cash of $125,000. The purchase price was reduced by $92,127 related to a working capital adjustment. The note is due in three years from the closing date and bears interest at a rate of two (2%) percent. The monthly payments including interest are $5,012. Additionally, in connection with the purchase agreement, the Company issued a Convertible Note for $200,000 (see note 6 for terms). On December 9, 2016 this Convertible Note was converted into common stock, resulting in 66,667 shares of common stock at $3.00 per share. The purchase was allocated, based on the Company’s estimate of fair value, to accounts receivable, prepaid expenses and other assets, property and equipment, liabilities, goodwill and customer list with an estimated life of seven years. The acquisition costs and allocation of the purchase price to customer lists and goodwill has been based of an independent valuation. As of December 31, 2016, the prior owners of Oates owed the Company $81,218 related to amounts collected by the prior owner subsequent to acquisition but owed to the Company. This amount is included in prepaid expenses and other current assets. The following summarizes the purchase price allocation for all prior year’s acquisitions: ATR PTI Macabe Oates Cash consideration $ 80,000 $ 483,471 $ 21,423 $ 125,000 Stock - 259,226 - - Working capital adjustment - - - (92,127 ) Convertible note - - - 200,000 Contingent consideration 21,656 428,971 - Note payable 175,000 600,000 175,000 Total purchase price $ 276,656 $ 1,342,697 $ 450,394 $ 407,873 Accounts receivable $ - $ 129,709 $ - $ 230,480 Unbilled services - 10,369 - - Prepaid expenses and other current assets - 14,039 - 10,182 Property and equipment - 93,300 6,377 17,000 Goodwill 18,000 311,000 7,000 9,000 Proprietary software applications - - 57,000 - Customer List 258,656 933,301 408,594 424,000 Total assets acquired 276,656 1,491,718 478,971 690,662 Current liabilities - (124,300 ) (28,577 ) (282,789 ) Capital lease obligations - (24,721 ) - - Liabilities acquired - (149,021 ) (28,577 ) (282,789 ) Net assets acquired $ 276,656 $ 1,342,697 $ 450,394 $ 407,873 The following unaudited pro forma information does not purport to present what the Company’s actual results would have been had the acquisitions occurred on January 1, 2015, nor is the financial information indicative of the results of future operations. The following table represents the unaudited consolidated pro forma results of operations for the year ended December 31, 2015 as if the acquisitions had occurred on January 1, 2015. Operating expenses have been increased for the amortization expense associated with the estimated fair value adjustment as of December 31, 2015 of expected definite lived intangible assets. Pro Forma Year Ended December 31, 2015 Net sales $ 31,663,312 Operating expenses $ 12,245,402 Income before taxes $ 583,074 Net income $ 472,493 Basic and diluted income per common share $ 0.11 The Company’s consolidated financial statements for the year ending December 31, 2016 include the actual results of ATR since the date of acquisition, March 11, 2015, the actual results of PTI since the date of acquisition, July 6, 2015, the actual results of Macabe since the date of acquisition, October 1, 2015, and the actual results of Oates since the date of acquisition, October 19, 2015. The year ended December 31, 2015 pro-forma results above include two months of results of ATR, six months of pro-forma results for PTI, nine months of pro-forma results for Macabe, and nine and a half months of pro-forma results for Oates. For the year ended December 31, 2016 the ATR operations had a net income before taxes of $84,099 that was included in the Company’s Consolidated Statement of Income, which consisted of approximately $1,206,445 in revenues and $1,122,346 in expenses. For the year ended December 31, 2016 the PTI operations had a net income before taxes of $83,534 that was included in the Company’s Consolidated Statement of Income, which consisted of approximately $1,791,610 in revenues and $1,708,076 in expenses. For the year ended December 31, 2016 the Macabe operations had a net income before taxes of $127,917 that was included in the Company’s Consolidated Statement of Income, which consisted of approximately $1,635,334 in revenues and $1,507,417 in expenses. For the year ended December 31, 2016 the Oates operations had a net income before taxes of $41,710 that was included in the Company’s Consolidated Statement of Income, which consisted of approximately $2,476,706 in revenues and $2,434,996 in expenses. For the year ended December 31, 2015 the ATR operations had a net income before taxes of $65,911 that was included in the Company’s Consolidated Statement of Income, which consisted of approximately $945,523 in revenues and $879,612 in expenses. For the year ended December 31, 2015 the PTI operations had a net income before taxes of $42,477 that was included in the Company’s Consolidated Statement of Income, which consisted of approximately $911,038 in revenues and $868,561 in expenses. For the year ended December 31, 2015 the Macabe operations had a net income before taxes of $33,835 that was included in the Company’s Consolidated Statement of Income, which consisted of approximately $432,564 in revenues and $398,729 in expenses. For the year ended December 31, 2015 the Oates operations had a net income before taxes of $8,819 that was included in the Company’s Consolidated Statement of Income, which consisted of approximately $523,668 in revenues and $514,849 in expenses. |
NOTE 10 - INCOME TAXES
NOTE 10 - INCOME TAXES | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | NOTE 10 – INCOME TAXES The recognized deferred tax asset is based upon the expected utilization of its benefit from future taxable income. The Company has federal net operating loss (“NOL”) carryforwards of approximately $6,651,000 as of December 31, 2016, The foregoing amounts are management’s estimates and the actual results could differ from those estimates. Future profitability in this competitive industry depends on continually obtaining and fulfilling new profitable sales agreements and modifying products. The inability to obtain new profitable contracts could reduce estimates of future profitability, which could affect the Company’s ability to realize the deferred tax assets. Significant components of the Company’s deferred tax assets and liabilities are summarized as follows: December 31, December 31, 2016 2015 Deferred tax assets: Net operating loss carry forwards $ 2,660,000 $ 2,785,000 Long lived assets 355,000 320,000 Share based payments 8,000 8,000 Allowance for doubtful accounts 150,000 150,000 Other 11,000 7,000 Deferred tax asset 3,184,000 3,270,000 Deferred tax liabilities: Long lived assets (179,000 ) (155,000 ) Deferred tax liabilities (179,000 ) (155,000 ) Net deferred tax asset 3,005,000 3,115,000 Less: Valuation allowance (590,098 ) (2,915,000 ) Net deferred tax asset $ 2,414,902 $ 200,000 For the year ended December 31, 2016, the Company’s Federal and State provision requirements were calculated based on the estimated tax rate. The Federal effective rate is higher than the statutory rate primarily due to the reversal of a significant portion of the previously reserved deferred tax assets for the net operating losses in addition to Incentive Stock Options (ISO) and 50% of general meal and entertainment expense which are not tax deductible. The benefit for the year ended December 31, 2016 was $2,223,734. The effective tax rate consists primarily of the 40% federal statutory tax rate, a blended 5% state and local tax rate, and a reversal of the valuation allowance as described below. For the year ended December 31, 2016, the Company’s Federal and State provision requirements were offset by the reversal of a significant portion of our valuation allowance, no longer deemed necessary, taking into consideration Section 382 limitations. The Company recorded a tax benefit of $2,563,637, which represents a reduction in its valuation allowance on tax attributes that are expected to be utilized based on management’s assessment and evaluation of current and projected income. Additionally, the tax return to provision true-up of prior year taxes owed was a result of overaccrual of taxes for the 2015 tax year. For the year ended December 31, 2015, the Company’s Federal and State provision requirements were offset by the reversal of a portion of the valuation allowance totaling $560,000, no longer deemed necessary. The Company recorded a net tax benefit of $200,000, which represents a reduction in its valuation allowance on tax attributes that are expected to be utilized based on management’s assessment and evaluation of historical and projected income. The foregoing amounts are management’s estimates and the actual results could differ from those estimates. Future profitability in this competitive industry depends on continually obtaining and fulfilling new profitable sales agreements and modifying products. The inability to obtain new profitable contracts could reduce estimates of future profitability, which could affect the Company’s ability to realize the deferred tax assets. A reconciliation of the statutory income tax rate to the effective rate is as follows for the period December 31, 2016 and 2015: December 31, December 31, 2016 2015 Federal income tax rate 34 % 34 % State income tax, net of federal benefit 5 % 5 % Permanent differences 6 % 6 % Prior year adjustments (20 % (5 %) 25 % 40 % Change in valuation allowance (208 %) (26 %) Effective income tax rate (183 %) 14 % Income tax provision (benefit): Year Ended December 31, December 31, 2016 2015 Current: Federal $ (108,832 ) $ 182,000 State and local 100,000 40,000 Total current tax (benefit) provision (8,832 ) 222,000 Deferred: Federal 334,786 34,200 State and local 13,949 3,800 Release of valuation allowance (2,563,637 ) (200,000 ) Total deferred tax provision (benefit) (2,214,902 ) (162,000 ) Total (benefit) provision $ (2,223,734 ) 60,000 |
NOTE 11 - RELATED PARTY TRANSAC
NOTE 11 - RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | NOTE 11 – RELATED PARTY TRANSACTIONS The Company leases its North Syracuse office space from its current CFO, Crandall Melvin III which expires on May 31, 2018. The monthly rent for this office space is $2,100. Total rent expense for 2016 and 2015 was $25,200 and $25,200 respectively under this lease. The Company leases its Seattle office space from Mary Abdian, an employee of SWK, which expires September 30, 2018. The monthly rent for this office space is $3,090 and increases 3% each year. Total rent expense for 2016 and 2015 under this lease was $36,270 and $9,000 respectively under the lease. As of December 31, 2016, long term debt and contingent consideration are considered related party liabilities as holders are current employees of the company, see Note 6 and Note 9. |
NOTE 12 - COMMITMENTS
NOTE 12 - COMMITMENTS | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 12 – COMMITMENTS Operating Leases Our main office was located at 5 Regent Street, Livingston, NJ 07039 where we had 6,986 square feet of office space at a monthly rent of $7,400. The lease expired on December 31, 2016 and was subsequently extended for a two months ending February 28, 2017. The Company has a lease, with a one-year extension, for office space at 6834 Buckley Road, North Syracuse, New York, at a monthly rent of $2,100. The lease expired on May 31, 2015 and was subsequently extended for a three year term commencing June 1, 2015 and ending May 31, 2018. The Company also leases 2,700 square feet of office space in Skokie, Illinois with a monthly rent of $3,000. This lease expires April 30, 2018. The Company leases 702 square feet of office space in Minneapolis, MN with a monthly rent of $1,515 a month. This lease expires March 31, 2017. The Company is exploring renewing or moving locations. The Company leases 2,105 square feet of office space in Phoenix, AZ starting at $1,271 and escalating to $2,894 per month by the end of the term September 30, 2019. The Company leases 1,500 square feet of office space in Seattle, WA with a monthly rent of $3,000 a month. The lease expires September 30, 2018. The Company leased 383 square feet of office space in Spartanburg, SC with a monthly rent of $450 a month which expired June 30, 2016. The Company leases 3,422 square feet of office space in Greensboro, NC with a monthly rent of $4,182 a month. The lease expired February 28, 2017 and was extended after reducing the rental space to 2,267 square feet at a monthly rent of $2,765 per month. The extension expires February 28, 2020. The Company leases 1,745 square feet of office space in Santa Ana, CA with a monthly rent of $3,225 per month escalating to $3,402 per month by the end of the lease term, April 30, 2018. On October 14, 2016, the Company has entered into new operating lease agreement for its main office relocating to 120 Eagle Rock Avenue, East Hanover, NJ 07936 on March 1, 2017. The main office premises will consist of 5,129 square feet of office space at a monthly rent starting at $8,762 and escalating to $10,044 per month by the end of the term April 30, 2024. Total rent expense under these operating leases for the year ended December 31, 2016 and 2015 was $365,205 and $247,527, respectively. The following is a schedule of approximate future minimum rental payments for operating leases subsequent to the year ended December 31, 2016. 2017 $ 249,012 2018 205,558 2019 135,465 2020 111,983 2021 114,548 Thereafter 276,966 Contingent Consideration The contingent consideration terms are noted in Note 9. Employment agreements The Company’s Chief Executive Officer and President has had an Employment Agreement with the Company since September 15, 2003. On February 4, 2016 (the “Effective Date”), the Company entered into an amended and restated employment agreement (the “Meller Employment Agreement”) with Mark Meller, pursuant to which Mr. Meller will continue to serve as the Company’s President and Chief Executive Officer. The Meller Employment Agreement was entered into by the Company and Mr. Meller primarily to extend the term of Mr. Meller’s employment. The term of the Meller Employment Agreement is for an additional 7 years through September of 2023 (the “Term”) and shall automatically renew for additional periods of one year unless otherwise terminated in accordance with the therein. As of the renewal date, the Company agreed to pay Mr. Meller and annual salary of $565,000 with a ten percent (10%) increase every year. The Meller Employment Agreement provides for a severance payment to Mr. Meller of three hundred percent (300%), less $100,000 of his gross income for services rendered to the Company in each of the five prior calendar years should his employment be terminated following a change in control (as defined in the Meller Employment Agreement). |
NOTE 13 - SUBSEQUENT EVENTS
NOTE 13 - SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | NOTE 13 – SUBSEQUENT EVENTS On January 12, 2017, the Company has entered into an operating lease agreement for its south New Jersey office commencing March 1, 2017. The company will lease 6,115 square feet of office space in Thorofare, NJ starting at $4,591 and escalating to $5,168 per month by the end of the term February 28, 2022. On January 13, 2017, the Company has entered into an operating lease agreement for its Greensboro, NC office commencing March 1, 2017 and ending February 28, 2020. The company will lease 2,267 square feet of office space for $2,765 per month. On January 23, 2017, the Company announced the payment of a $0.02 special cash dividend per share of Common Stock. The dividend payments announced in January were paid out on January 31, 2017 for an aggregate amount of $89,566, which was applied against additional paid in capital. On January 27, 2017, the Company issued 100 shares of stock each to 125 non-executive employees of SWK Technologies, Inc. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying consolidated financial statements include the accounts of the “Company” and its wholly-owned subsidiary, SWK Technologies, Inc. (“SWK”). These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States. All significant inter-company transactions and accounts have been eliminated in consolidation. On February 4, 2015 the Company effected a 1-for-30 reverse stock split of the outstanding common stock (the “Reverse Stock Split”) whereby every thirty (30) shares of outstanding common stock decreased to one (1) share of common stock. Similarly, the number of shares of common stock, par value $0.00001 (“Common Stock”) into which each outstanding option and warrant to purchase common stock is to be exercisable decreased on a 1-for-30 basis and the exercise price of each outstanding option and warrant to purchase common stock increased proportionately. The impact of this reverse stock split has been retroactively applied to the financial statements and the related notes. |
Consolidation, Policy [Policy Text Block] | Principal of Consolidation The consolidated financial statements include the accounts of SilverSun and its subsidiary SWK, which is wholly owned. All significant intercompany transactions and balances have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill is the excess of acquisition cost of an acquired entity over the fair value of the identifiable net assets acquired. Goodwill is not amortized, but tested for impairment annually or whenever indicators of impairment exist. These indicators may include a significant change in the business climate, legal factors, operating performance indicators, competition, sale or disposition of a significant portion of the business or other factors. No impairment losses were identified or recorded in the years ended December 31, 2016 and 2015. |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Definite Lived Intangible Assets and Long-lived Assets Purchased intangible assets are recorded at fair value using an independent valuation at the date of acquisition and are amortized over the useful lives of the asset using the straight-line amortization method. The Company assesses potential impairment of its intangible assets and other long-lived assets when there is evidence that recent events or changes in circumstances have made recovery of an asset’s carrying value unlikely. Factors the Company considers important, which may cause impairment include, among others, significant changes in the manner of use of the acquired asset, negative industry or economic trends, and significant underperformance relative to historical or projected operating results. No impairment losses were identified or recorded in the years ended December 31, 2016 and 2015. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Revenue is recognized when products are shipped, or services are rendered, evidence of a contract exists, the price is fixed or reasonably determinable, and collectability is reasonably assured. Product Revenue Software product revenue is recognized when the product is shipped to the customer. The Company treats the software component and the professional services consulting component as two separate arrangements that represent separate units of accounting. The arrangement consideration is allocated to each unit of accounting based upon that unit’s proportion of the fair value. In a situation where both components are present, software sales revenue is recognized when collectability is reasonably assured and the product is delivered and has stand-alone value based upon vendor specific objective evidence. Service Revenue Service revenue is comprised of primarily professional service consulting revenue, maintenance revenue and other ancillary services provided. Professional service revenue is recognized as service time is incurred. With respect to maintenance services, upon the completion of one year from the date of sale, the Company offers customers an optional annual software maintenance and support agreement for subsequent periods not exceeding one year. Maintenance and support agreements are recorded as deferred revenue and recognized over the respective terms of the agreements, which typically range from three months to one year and are included in services revenue in the Consolidated Statements of Income. Shipping and handling costs charged to customers are classified as revenue, and the shipping and handling costs incurred are included in cost of sales. |
Trade and Other Accounts Receivable, Unbilled Receivables, Policy [Policy Text Block] | Unbilled Services The Company recognizes revenue on its professional services as those services are performed or certain obligations are met. Unbilled services represent the revenue recognized but not yet invoiced. |
Revenue Recognition, Deferred Revenue [Policy Text Block] | Deferred Revenues Deferred revenues consist of maintenance service, customer support services, including telephone support and deposits for future consulting services which will be earned as services are performed over the contractual or stated period, which generally ranges from three to twelve months. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. The Company maintains cash balances at financial institutions that are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to federally insured limits. At times balances may exceed FDIC insured limits. The Company has not experienced any losses in such accounts. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations The Company maintains its cash and cash equivalents with various institutions, which exceed federally insured limits throughout the year. At December 31, 2016, the Company had cash on deposit of approximately $1,280,695 in excess of the federally insured limits of $250,000. For the years ended December 31, 2016 and 2015, our top ten customers accounted for 19% ($6,574,232) and 19% ($5,179,085), respectively, of our total revenues. The Company does not rely on any one specific customer for any significant portion of our revenue base. For both the years ended December 31 2016 and 2015, purchases from one supplier through a “channel partner” agreement were approximately 24%. This channel partner agreement is for a one year term and automatically renews for an additional one year term on the anniversary of the agreements effective date. For the years ended December 31, 2016 and 2015, one supplier represented approximately 42% and 33% of total accounts payable, respectively. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of trade accounts receivable and cash and cash equivalents. As of December 31, 2016 the Company believes it has no significant risk related to its concentration of accounts receivable. |
Receivables, Policy [Policy Text Block] | Accounts Receivable Accounts receivable consist primarily of invoices for maintenance and professional services. Full payment for software ordered by customers is due in advance of ordering from the software supplier. Payments for maintenance and support plan renewals are due before the beginning of the maintenance period. Terms under our professional service agreements are generally 50% due in advance and the balance on completion of the services. The Company maintains an allowance for bad debt estimated by considering a number of factors, including the length of time the amounts are past due, the Company’s previous loss history, the customer’s current ability to pay its obligations. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment is stated at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method based upon the estimated useful lives of the assets, generally three to seven years. Maintenance and repairs that do not materially add to the value of the equipment nor appreciably prolong its life are charged to expense as incurred. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss is included in the Consolidated Statements of Income. |
Income Tax, Policy [Policy Text Block] | Income Taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as net operating loss carryforwards. Deferred tax assets and liabilities are classified as current or non-current based on the classification of the related assets or liabilities for financial reporting, or according to the expected reversal dates of the specific temporary differences, if not related to an asset or liability for financial reporting. Valuation allowances are established against deferred tax assets if it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates or laws is recognized in operations in the period that includes the enactment date. The Company has federal net operating loss (“NOL”) carryforwards which are subject to limitations under Section 382 of the Internal Revenue Code. The Company files income tax returns in the U.S. federal and state jurisdictions. Tax years 2013 to 2016 remain open to examination for both the U.S. federal and state jurisdictions. There were no liabilities for uncertain tax positions at December 31, 2016 and 2015. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurement The accounting standards define fair value and establish a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use on unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. The Company’s current financial assets and liabilities approximate fair value due to their short term nature and include cash, accounts receivable, accounts payable, and accrued liabilities. The carrying value of longer term lease and debt obligations approximate fair value as their stated interest rates approximate the rates currently available. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation Compensation expense related to share-based transactions, including employee stock options, is measured and recognized in the financial statements based on a determination of the fair value. The grant date fair value is determined using the Black-Scholes-Merton (“Black-Scholes”) pricing model. For employee stock options, the Company recognizes expense over the requisite service period on a straight-line basis (generally the vesting period of the equity grant). The Company’s option pricing model requires the input of highly subjective assumptions, including the expected stock price volatility, expected term, and forfeiture rate. Any changes in these highly subjective assumptions significantly impact stock-based compensation expense. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Authoritative Pronouncements In August 2014, the FASB issued Accounting Standard Update 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Management of public and private companies will be required to evaluate whether there are conditions and events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the financial statements are issued (or available to be issued when applicable) and, if so, disclose that fact. Management will be required to make this evaluation for both annual and interim reporting periods, if applicable. The standard is effective for annual periods ending after December 15, 2016 and interim periods ending after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. This adoption did not have a material impact on the Company’s consolidated financial statements. Recent Authoritative Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers: Identifying performance obligations and licensing, In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classifications of Deferred Taxes |
NOTE 3 - NET INCOME PER COMMO22
NOTE 3 - NET INCOME PER COMMON SHARE (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The Company’s basic income per common share is based on net income for the relevant period, divided by the weighted average number of common shares outstanding during the period. Diluted income per common share is based on net income, divided by the weighted average number of common shares outstanding during the period, including common share equivalents, such as outstanding option and warrants to the extent they are dilutive. The computation of diluted income per share for the year ended December 31, 2016 and December 31, 2015 does not include share equivalents as all warrants and options exceeded the average market price of the common stock. Convertible debt is included below, based on if-converted method. Year Ended December 31, 2016 Year Ended December 31, 2015 Basic net income per share: Net income $ 3,436,399 $ 374,305 Weighted-average common shares outstanding 4,414,743 4,301,782 Basic net income per shares $ 0.78 $ 0.09 Diluted net income per share: Net income $ 3,436,399 $ 374,305 Weighted-average common shares outstanding 4,473,403 4,301,782 Incremental shares for convertible promissory note - 16,667 Total adjusted weighted-average shares 4,473,403 4,318,449 Diluted net income per share $ 0.77 $ 0.09 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | The following table summarizes securities that, if exercised, would have an anti-dilutive effect on earnings per share. Year Ended December 31, 2016 Year Ended December 31, 2015 Stock options 143,576 183,576 Warrants 203,253 203,253 Total potential dilutive securities not included in loss per share 346,829 386,829 |
NOTE 4 - PROPERTY AND EQUIPME23
NOTE 4 - PROPERTY AND EQUIPMENT (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Property and equipment is summarized as follows: December 31, 2016 December 31, 2015 Leasehold improvements $ 30,557 $ 30,557 Equipment, furniture and fixtures 1,744,439 1,471,268 1,774,996 1,501,825 Less: Accumulated depreciation (1,308,794 ) (1,076,478 ) Property and equipment, net $ 466,202 $ 425,347 |
Schedule of Capital Leased Assets [Table Text Block] | Property and equipment under capital leases are summarized as follows: December 31, 2016 December 31, 2015 Equipment, furniture and fixtures 521,905 433,536 Less: Accumulated depreciation (335,672 ) (232,228 ) Property and equipment, net $ 186,233 $ 201,308 |
NOTE 5 - INTANGIBLE ASSETS (Tab
NOTE 5 - INTANGIBLE ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The components of intangible assets are as follows: December 31, 2016 December 31, 2015 Estimated Useful Lives Proprietary developed software $ 677,829 $ 365,911 5 Intellectual property, customer list, and acquired contracts 3,069,551 3,069,551 5 – 15 Total intangible assets $ 3,747,380 $ 3,435,462 Less: accumulated amortization (1,316,269 ) (863,925 ) $ 2,431,111 $ 2,571,537 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The Company expects future amortization expense to be the following: Amortization 2017 $ 355,797 2018 299,828 2019 299,828 2020 282,603 2021 246,053 thereafter 947,002 Total $ 2,431,111 |
NOTE 6 - LINE OF CREDIT AND T25
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Line of Credit and Term Loan [Abstract] | |
Schedule of Maturities of Long-term Debt [Table Text Block] | At December 31, 2016, future payments of promissory notes are as follows over each of the next five fiscal years: 2017 $ 306,677 2018 257,846 2019 154,727 2020 73,900 Total $ 793,150 |
NOTE 7 - CAPITAL LEASE OBLIGA26
NOTE 7 - CAPITAL LEASE OBLIGATIONS (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Leases, Capital [Abstract] | |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | At December 31, 2016, future payments under capital leases are as follows: 2017 $ 103,353 2018 60,631 2019 1,785 Total minimum lease payments 165,769 Less amounts representing interest (10,928 ) Present value of net minimum lease payments 154,841 Less current portion (94,714 ) Long-term capital lease obligation $ 60,127 |
NOTE 8 - EQUITY (Tables)
NOTE 8 - EQUITY (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | A summary of the status of the Company’s stock option plans for the fiscal years ended December 31, 2016 and 2015 and changes during the years are presented below (in number of options): Number of Options Average Exercise Price Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding options at January 1, 2015 163,846 $ 4.65 2.5 years $ -0- Options granted 35,000 3.76 4.2 years Options canceled/forfeited (15,270 ) $ 4.61 Outstanding options at December 31, 2015 183,576 $ 4.49 2.7 years $ -0- Options granted - $ - Options canceled/forfeited (40,000 ) $ 4.50 Outstanding options at December 31, 2016 143,576 $ 4.33 1.6 years $ -0- Vested Options: December 31, 2016; 103,575 $ 4.47 1.0 years $ -0- December 31, 2015: 119,243 $ 4.70 2.0 years $ -0- |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | The following table summarizes the warrants transactions: Warrants Outstanding Weighted Average Exercise Price Balance, January 1, 2015 - $ - Granted 203,253 $ 5.29 Exercised - $ Canceled - $ - Outstanding and Exercisable December 31, 2015 203,253 $ 5.29 Granted - $ - Exercised - $ - Canceled - $ - Outstanding and Exercisable December 31, 2016 203,253 $ 5.29 |
NOTE 9 - BUSINESS COMBINATION (
NOTE 9 - BUSINESS COMBINATION (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
NOTE 9 - BUSINESS COMBINATION (Tables) [Line Items] | |
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited pro forma information does not purport to present what the Company’s actual results would have been had the acquisitions occurred on January 1, 2015, nor is the financial information indicative of the results of future operations. The following table represents the unaudited consolidated pro forma results of operations for the year ended December 31, 2015 as if the acquisitions had occurred on January 1, 2015. Operating expenses have been increased for the amortization expense associated with the estimated fair value adjustment as of December 31, 2015 of expected definite lived intangible assets. Pro Forma Year Ended December 31, 2015 Net sales $ 31,663,312 Operating expenses $ 12,245,402 Income before taxes $ 583,074 Net income $ 472,493 Basic and diluted income per common share $ 0.11 |
ProductiveTech, Inc. (PTI) [Member] | |
NOTE 9 - BUSINESS COMBINATION (Tables) [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following summarizes the purchase price allocation for all prior year’s acquisitions: ATR PTI Macabe Oates Cash consideration $ 80,000 $ 483,471 $ 21,423 $ 125,000 Stock - 259,226 - - Working capital adjustment - - - (92,127 ) Convertible note - - - 200,000 Contingent consideration 21,656 428,971 - Note payable 175,000 600,000 175,000 Total purchase price $ 276,656 $ 1,342,697 $ 450,394 $ 407,873 Accounts receivable $ - $ 129,709 $ - $ 230,480 Unbilled services - 10,369 - - Prepaid expenses and other current assets - 14,039 - 10,182 Property and equipment - 93,300 6,377 17,000 Goodwill 18,000 311,000 7,000 9,000 Proprietary software applications - - 57,000 - Customer List 258,656 933,301 408,594 424,000 Total assets acquired 276,656 1,491,718 478,971 690,662 Current liabilities - (124,300 ) (28,577 ) (282,789 ) Capital lease obligations - (24,721 ) - - Liabilities acquired - (149,021 ) (28,577 ) (282,789 ) Net assets acquired $ 276,656 $ 1,342,697 $ 450,394 $ 407,873 |
NOTE 10 - INCOME TAXES (Tables)
NOTE 10 - INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Significant components of the Company’s deferred tax assets and liabilities are summarized as follows: December 31, December 31, 2016 2015 Deferred tax assets: Net operating loss carry forwards $ 2,660,000 $ 2,785,000 Long lived assets 355,000 320,000 Share based payments 8,000 8,000 Allowance for doubtful accounts 150,000 150,000 Other 11,000 7,000 Deferred tax asset 3,184,000 3,270,000 Deferred tax liabilities: Long lived assets (179,000 ) (155,000 ) Deferred tax liabilities (179,000 ) (155,000 ) Net deferred tax asset 3,005,000 3,115,000 Less: Valuation allowance (590,098 ) (2,915,000 ) Net deferred tax asset $ 2,414,902 $ 200,000 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation of the statutory income tax rate to the effective rate is as follows for the period December 31, 2016 and 2015: December 31, December 31, 2016 2015 Federal income tax rate 34 % 34 % State income tax, net of federal benefit 5 % 5 % Permanent differences 6 % 6 % Prior year adjustments (20 % (5 %) 25 % 40 % Change in valuation allowance (208 %) (26 %) Effective income tax rate (183 %) 14 % |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Income tax provision (benefit): Year Ended December 31, December 31, 2016 2015 Current: Federal $ (108,832 ) $ 182,000 State and local 100,000 40,000 Total current tax (benefit) provision (8,832 ) 222,000 Deferred: Federal 334,786 34,200 State and local 13,949 3,800 Release of valuation allowance (2,563,637 ) (200,000 ) Total deferred tax provision (benefit) (2,214,902 ) (162,000 ) Total (benefit) provision $ (2,223,734 ) 60,000 |
NOTE 12 - COMMITMENTS (Tables)
NOTE 12 - COMMITMENTS (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | The following is a schedule of approximate future minimum rental payments for operating leases subsequent to the year ended December 31, 2016. 2017 $ 249,012 2018 205,558 2019 135,465 2020 111,983 2021 114,548 Thereafter 276,966 |
SUPPLEMENTAL SCHEDULE OF NON-31
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: (Details) - USD ($) | Dec. 09, 2016 | Oct. 19, 2015 | Oct. 01, 2015 | Mar. 29, 2015 | Oct. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 |
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: (Details) [Line Items] | ||||||||
Capital Lease Obligations Incurred | $ 88,369 | $ 111,730 | ||||||
Debt Conversion, Original Debt, Amount | $ 200,000 | |||||||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 66,667 | 66,667 | ||||||
Payments to Acquire Businesses, Gross | $ 0 | 709,893 | ||||||
Shares Issued, Price Per Share (in Dollars per share) | $ 0.01 | |||||||
Stock Issued During Period, Value, Acquisitions | $ 259,226 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 0 | 35,000 | ||||||
Series B Preferred Stock [Member] | ||||||||
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: (Details) [Line Items] | ||||||||
Stock Repurchased and Retired During Period, Shares (in Shares) | 1 | |||||||
ProductiveTech, Inc. (PTI) [Member] | ||||||||
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: (Details) [Line Items] | ||||||||
Noncash or Part Noncash Acquisition, Debt Assumed | $ 600,000 | |||||||
Payments to Acquire Businesses, Gross | $ 483,471 | |||||||
Stock Issued During Period, Shares, Acquisitions (in Shares) | 64,484 | |||||||
Shares Issued, Price Per Share (in Dollars per share) | $ 4.032 | |||||||
Stock Issued During Period, Value, Acquisitions | $ 260,000 | |||||||
2000 SOFT, Inc. DBA Accounting Technology Resource (ATR) [Member] | ||||||||
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: (Details) [Line Items] | ||||||||
Payments to Acquire Businesses, Gross | 80,000 | |||||||
The Macabe Associates, Inc. (Macabe) [Member] | ||||||||
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: (Details) [Line Items] | ||||||||
Payments to Acquire Businesses, Gross | $ 21,423 | $ 21,423 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 25,000 | 428,971 | ||||||
Oates & Company, LLC (Oates) [Member] | ||||||||
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: (Details) [Line Items] | ||||||||
Payments to Acquire Businesses, Gross | $ 125,000 | $ 125,000 | ||||||
Oates & Company, LLC (Oates) [Member] | Notes Payable, Other Payables [Member] | ||||||||
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: (Details) [Line Items] | ||||||||
Noncash or Part Noncash Acquisition, Debt Assumed | 175,000 | |||||||
Oates & Company, LLC (Oates) [Member] | Convertible Debt [Member] | ||||||||
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: (Details) [Line Items] | ||||||||
Notes Issued | 200,000 | |||||||
Customer Lists [Member] | 2000 SOFT, Inc. DBA Accounting Technology Resource (ATR) [Member] | ||||||||
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: (Details) [Line Items] | ||||||||
Noncash or Part Noncash Acquisition, Debt Assumed | 175,000 | |||||||
Payments to Acquire Businesses, Gross | $ 80,000 |
NOTE 2 - SUMMARY OF SIGNIFICA32
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) | Feb. 04, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||||
Stockholders' Equity, Reverse Stock Split | 1-for-30 | |||
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.00001 | $ 0.00001 | ||
Cash, Uninsured Amount (in Dollars) | $ 1,280,695 | |||
Cash, FDIC Insured Amount (in Dollars) | $ 250,000 | |||
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | ||||
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||||
Concentration Risk, Percentage | 19.00% | 19.00% | ||
Revenues (in Dollars) | $ 6,574,232 | $ 5,179,085 | ||
Cost of Goods, Total [Member] | Supplier Concentration Risk [Member] | ||||
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||||
Concentration Risk, Percentage | 24.00% | 24.00% | ||
Purchase Commitment, Description | This channel partner agreement is for a one year term and automatically renews for an additional one year term on the anniversary of the agreements effective date. | |||
Concentration Risk, Accounts Payable [Member] | Supplier Concentration Risk [Member] | ||||
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||||
Concentration Risk, Percentage | 42.00% | 33.00% | ||
Minimum [Member] | ||||
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Maximum [Member] | ||||
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 7 years |
NOTE 3 - NET INCOME PER COMMO33
NOTE 3 - NET INCOME PER COMMON SHARE (Details) - Schedule of Earnings Per Share, Basic and Diluted - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Basic net income per share: | ||
Net income (in Dollars) | $ 3,436,399 | $ 374,305 |
Weighted-average common shares outstanding | 4,414,743 | 4,301,782 |
Basic net income per shares (in Dollars per share) | $ 0.78 | $ 0.09 |
Diluted net income per share: | ||
Net income (in Dollars) | $ 3,436,399 | $ 374,305 |
Weighted-average common shares outstanding | 4,473,403 | 4,301,782 |
Incremental shares for convertible promissory note | 0 | 16,667 |
Total adjusted weighted-average shares | 4,473,403 | 4,318,449 |
Diluted net income per share (in Dollars per share) | $ 0.77 | $ 0.09 |
NOTE 3 - NET INCOME PER COMMO34
NOTE 3 - NET INCOME PER COMMON SHARE (Details) - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share - shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Dilutive securities not included in loss per share | 346,829 | 386,829 |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Dilutive securities not included in loss per share | 143,576 | 183,576 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Dilutive securities not included in loss per share | 203,253 | 203,253 |
NOTE 4 - PROPERTY AND EQUIPME35
NOTE 4 - PROPERTY AND EQUIPMENT (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation, Depletion and Amortization | $ 232,316 | $ 165,597 |
NOTE 4 - PROPERTY AND EQUIPME36
NOTE 4 - PROPERTY AND EQUIPMENT (Details) - Schedule of Property and Equipment - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Property and Equipment | $ 1,774,996 | $ 1,501,825 |
Less: Accumulated depreciation | (1,308,794) | (1,076,478) |
Property and equipment, net | 466,202 | 425,347 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment | 30,557 | 30,557 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment | $ 1,744,439 | $ 1,471,268 |
NOTE 4 - PROPERTY AND EQUIPME37
NOTE 4 - PROPERTY AND EQUIPMENT (Details) - Schedule of Capital Leased Assets - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Capital Leased Assets [Abstract] | ||
Equipment, furniture and fixtures | $ 521,905 | $ 433,536 |
Less: Accumulated depreciation | (335,672) | (232,228) |
Property and equipment, net | $ 186,233 | $ 201,308 |
NOTE 5 - INTANGIBLE ASSETS (Det
NOTE 5 - INTANGIBLE ASSETS (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Amortization of Intangible Assets | $ 452,344 | $ 319,495 |
Payments to Develop Software | $ 311,917 | $ 0 |
NOTE 5 - INTANGIBLE ASSETS (De
NOTE 5 - INTANGIBLE ASSETS (Details) - Schedule of Finite-Lived Intangible Assets - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible asset, gross | $ 3,747,380 | $ 3,435,462 |
Less: accumulated amortization | (1,316,269) | (863,925) |
Intangible asset, net | 2,431,111 | 2,571,537 |
Computer Software, Intangible Asset [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible asset, gross | $ 677,829 | 365,911 |
Estimated Useful Life | 5 years | |
Intellectual property, customer list, and acquired contracts [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible asset, gross | $ 3,069,551 | $ 3,069,551 |
Minimum [Member] | Intellectual property, customer list, and acquired contracts [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Estimated Useful Life | 5 years | |
Maximum [Member] | Intellectual property, customer list, and acquired contracts [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Estimated Useful Life | 15 years |
NOTE 5 - INTANGIBLE ASSETS (40
NOTE 5 - INTANGIBLE ASSETS (Details) - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Abstract] | ||
2,017 | $ 355,797 | |
2,018 | 299,828 | |
2,019 | 299,828 | |
2,020 | 282,603 | |
2,021 | 246,053 | |
thereafter | 947,002 | |
Total | $ 2,431,111 | $ 2,571,537 |
NOTE 6 - LINE OF CREDIT AND T41
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) - USD ($) | Jul. 21, 2016 | Oct. 19, 2015 | Jul. 06, 2015 | Mar. 11, 2015 | May 06, 2014 | Aug. 01, 2013 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 09, 2016 |
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Bank Loans | $ 0 | ||||||||
Long-term Debt | 793,150 | ||||||||
Payments to Acquire Businesses, Gross | 0 | $ 709,893 | |||||||
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 3 | ||||||||
Notes Payable to Banks [Member] | Prime Rate [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.95% | ||||||||
Medium-term Notes [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 350,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||
Debt Instrument, Term | 2 years | ||||||||
Debt Instrument, Maturity Date | Jul. 31, 2015 | ||||||||
Debt Instrument, Periodic Payment | $ 15,776 | ||||||||
ESC Inc. DBA ESC Software [Member] | Notes Payable, Other Payables [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 350,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | ||||||||
Debt Instrument, Maturity Date | Apr. 1, 2019 | ||||||||
Debt Instrument, Periodic Payment | $ 6,135 | ||||||||
Long-term Debt | 173,535 | ||||||||
2000 SOFT, Inc. DBA Accounting Technology Resource (ATR) [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Payments to Acquire Businesses, Gross | 80,000 | ||||||||
2000 SOFT, Inc. DBA Accounting Technology Resource (ATR) [Member] | Notes Payable, Other Payables [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 175,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | ||||||||
Debt Instrument, Maturity Date | Feb. 1, 2018 | ||||||||
Debt Instrument, Periodic Payment | $ 5,012 | ||||||||
Long-term Debt | 74,194 | ||||||||
Payments to Acquire Intangible Assets | $ 80,000 | ||||||||
Debt Instrument, Frequency of Periodic Payment | Monthly | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 175,000 | 175,000 | |||||||
2000 SOFT, Inc. DBA Accounting Technology Resource (ATR) [Member] | Convertible Debt [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 0 | ||||||||
ProductiveTech, Inc. (PTI) [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Payments to Acquire Businesses, Gross | 483,471 | ||||||||
ProductiveTech, Inc. (PTI) [Member] | Notes Payable, Other Payables [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 600,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.50% | ||||||||
Debt Instrument, Term | 60 months | ||||||||
Debt Instrument, Periodic Payment | $ 10,645 | ||||||||
Long-term Debt | 437,403 | ||||||||
Payments to Acquire Intangible Assets | $ 483,471 | ||||||||
Debt Instrument, Frequency of Periodic Payment | monthly | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 500,000 | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 600,000 | ||||||||
ProductiveTech, Inc. (PTI) [Member] | Convertible Debt [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 0 | ||||||||
Oates & Company, LLC (Oates) [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Payments to Acquire Businesses, Gross | $ 125,000 | 125,000 | |||||||
Oates & Company, LLC (Oates) [Member] | Notes Payable, Other Payables [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | ||||||||
Debt Instrument, Term | 3 years | ||||||||
Debt Instrument, Periodic Payment | $ 5,012 | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 175,000 | 175,000 | |||||||
Convertible Debt | 108,018 | ||||||||
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 3 | ||||||||
Oates & Company, LLC (Oates) [Member] | Convertible Debt [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.00% | ||||||||
Debt Instrument, Maturity Date | Jan. 1, 2017 | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 200,000 | $ 200,000 | |||||||
Convertible Debt | $ 81,218 | ||||||||
Debt Instrument, Payment Terms | The quarterly interest payments were computed on the basis of 365-day year from the date of this note until paid | ||||||||
Maximum [Member] | Notes Payable to Banks [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 1,000,000 | ||||||||
Minimum [Member] | Notes Payable to Banks [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | ||||||||
Line of Credit [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Line of Credit Facility, Expiration Date | Jul. 31, 2015 | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 750,000 | ||||||||
Line of Credit Facility, Interest Rate at Period End | 5.25% | ||||||||
Debt Instrument, Collateral | The line was collateralized by substantially all of the assets of the Company and guaranteed by the Company’s Chief Executive Officer, Mr. Meller. | ||||||||
Debt Instrument, Fee | monitoring fee | ||||||||
Debt Instrument, Fee Amount | $ 1,000 | ||||||||
Debt Instrument, Frequency of Fee | monthly | ||||||||
Line of Credit [Member] | Prime Rate [Member] | |||||||||
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) [Line Items] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% |
NOTE 6 - LINE OF CREDIT AND T42
NOTE 6 - LINE OF CREDIT AND TERM LOAN AND PROMISSORY NOTE (Details) - Schedule of Maturities of Long-term Debt | Dec. 31, 2016USD ($) |
Schedule of Maturities of Long-term Debt [Abstract] | |
2,017 | $ 306,677 |
2,018 | 257,846 |
2,019 | 154,727 |
2,020 | 73,900 |
Total | $ 793,150 |
NOTE 7 - CAPITAL LEASE OBLIGA43
NOTE 7 - CAPITAL LEASE OBLIGATIONS (Details) | Dec. 31, 2016 |
Minimum [Member] | |
NOTE 7 - CAPITAL LEASE OBLIGATIONS (Details) [Line Items] | |
Capital Leases of Lessee, Contingent Rentals, Basis Spread on Variable Rate | 7.10% |
Maximum [Member] | |
NOTE 7 - CAPITAL LEASE OBLIGATIONS (Details) [Line Items] | |
Capital Leases of Lessee, Contingent Rentals, Basis Spread on Variable Rate | 10.40% |
NOTE 7 - CAPITAL LEASE OBLIGA44
NOTE 7 - CAPITAL LEASE OBLIGATIONS (Details) - Schedule of Future Minimum Lease Payments for Capital Leases - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Future Minimum Lease Payments for Capital Leases [Abstract] | ||
2,017 | $ 103,353 | |
2,018 | 60,631 | |
2,019 | 1,785 | |
Total minimum lease payments | 165,769 | |
Less amounts representing interest | (10,928) | |
Present value of net minimum lease payments | 154,841 | |
Less current portion | (94,714) | $ (90,167) |
Long-term capital lease obligation | $ 60,127 | $ 92,445 |
NOTE 8 - EQUITY (Details)
NOTE 8 - EQUITY (Details) - USD ($) | Jul. 28, 2016 | Jan. 11, 2016 | Jul. 06, 2015 | Apr. 29, 2015 | Mar. 29, 2015 | Mar. 23, 2015 | Mar. 09, 2015 | Jan. 29, 2015 | Nov. 30, 2016 | Oct. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 |
NOTE 8 - EQUITY (Details) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 363,490 | ||||||||||||
Warrants Sold During Period, Number of Warrants (in Shares) | 181,745 | ||||||||||||
Shares Issued, Price Per Share (in Dollars per share) | $ 0.01 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 5.30 | ||||||||||||
Proceeds from Issuance or Sale of Equity, Gross (in Dollars) | $ 1,543,015 | ||||||||||||
Payments of Stock Issuance Costs (in Dollars) | 730,992 | ||||||||||||
Proceeds from Issuance or Sale of Equity (in Dollars) | $ 812,023 | $ 0 | $ 812,023 | ||||||||||
Stock Issued During Period, Value, Issued for Services (in Dollars) | 36,300 | ||||||||||||
Dividends Payable, Date Declared | Jan. 11, 2016 | ||||||||||||
Common Stock, Dividends, Per Share, Cash Paid (in Dollars per share) | $ 0.06 | ||||||||||||
Dividends Payable, Date to be Paid | Jan. 20, 2016 | ||||||||||||
Dividends, Common Stock, Cash (in Dollars) | 264,699 | ||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock (in Dollars) | $ 100 | $ 0 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 0 | 35,000 | |||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ 0 | $ 3.76 | |||||||||||
Share-based Compensation (in Dollars) | $ 42,795 | $ 60,860 | |||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars) | $ 112,261 | ||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years | ||||||||||||
Class of Warrant or Rights, Granted (in Shares) | 0 | 203,253 | |||||||||||
Fair Value Assumptions, Expected Volatility Rate | 284.28% | ||||||||||||
Stock Issued for Services [Member] | |||||||||||||
NOTE 8 - EQUITY (Details) [Line Items] | |||||||||||||
Shares Issued, Price Per Share (in Dollars per share) | $ 2.42 | ||||||||||||
Stock Issued During Period, Shares, Issued for Services (in Shares) | 15,000 | ||||||||||||
Stock Issued During Period, Value, Issued for Services (in Dollars) | $ 36,300 | ||||||||||||
Series B Preferred Stock [Member] | |||||||||||||
NOTE 8 - EQUITY (Details) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 1 | ||||||||||||
Stock Repurchased and Retired During Period, Shares (in Shares) | 1 | ||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock (in Dollars) | $ 100 | ||||||||||||
Preferred Stock, Voting Rights | Each one (1) share of the Series B Preferred Stock shall have voting rights equal to (x) the total issued and outstanding Common Stock eligible to vote at the time of the respective vote divided by (y) forty-nine one-hundredths (0.49) minus (z) the total issued and outstanding Common Stock eligible to vote at the time of the respective vote. For the avoidance of doubt, if the total issued and outstanding Common Stock eligible to vote at the time of the respective vote is 5,000,000, the voting rights of the Series B Preferred Stock shall be equal to 5,204,082 (e.g. (5,000,000 / 0.49) – 5,000,000 = 5,204,082). | ||||||||||||
Employee Stock Option [Member] | |||||||||||||
NOTE 8 - EQUITY (Details) [Line Items] | |||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ 2.35 | ||||||||||||
Warrants [Member] | |||||||||||||
NOTE 8 - EQUITY (Details) [Line Items] | |||||||||||||
Share-based Compensation (in Dollars) | $ 42,795 | $ 40,860 | |||||||||||
Director [Member] | |||||||||||||
NOTE 8 - EQUITY (Details) [Line Items] | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 6 | ||||||||||||
Class of Warrant or Rights, Granted (in Shares) | 3,333 | ||||||||||||
Warrants, Fair Value of Warrants, Granted (in Dollars) | $ 19,969 | ||||||||||||
Share Price (in Dollars per share) | $ 6 | ||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||||||
Fair Value Assumptions, Risk Free Interest Rate | 1.42% | ||||||||||||
Fair Value Assumptions, Expected Term | 5 years | ||||||||||||
ProductiveTech, Inc. (PTI) [Member] | |||||||||||||
NOTE 8 - EQUITY (Details) [Line Items] | |||||||||||||
Shares Issued, Price Per Share (in Dollars per share) | $ 4.032 | ||||||||||||
The Macabe Associates, Inc. (Macabe) [Member] | |||||||||||||
NOTE 8 - EQUITY (Details) [Line Items] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 25,000 | 428,971 | |||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ 3.66 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||||||
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, Risk Free Interest Rate | 1.37% | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 332.76% | ||||||||||||
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, Fair Value Grants in Period (in Dollars) | $ 91,482 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||
Warrants Issued for Private Placement [Member] | |||||||||||||
NOTE 8 - EQUITY (Details) [Line Items] | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 5.30 | $ 5.088 | |||||||||||
Class of Warrant or Rights, Granted (in Shares) | 181,745 | 18,175 | |||||||||||
Warrants, Fair Value of Warrants, Granted (in Dollars) | $ 638,630 | $ 73,356 | |||||||||||
Share Price (in Dollars per share) | $ 3.53 | $ 4.05 | |||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | |||||||||||
Fair Value Assumptions, Risk Free Interest Rate | 1.41% | 1.66% | |||||||||||
Fair Value Assumptions, Expected Volatility Rate | 258.39% | 263.67% | |||||||||||
Fair Value Assumptions, Expected Term | 5 years | 5 years | |||||||||||
2004 Stock Incentive Plan [Member] | Non-Executive Employee [Member] | |||||||||||||
NOTE 8 - EQUITY (Details) [Line Items] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 10,000 | ||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ 4 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||||||
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, Risk Free Interest Rate | 1.60% | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 263.18% | ||||||||||||
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, Fair Value Grants in Period (in Dollars) | $ 39,875 | ||||||||||||
Notes Payable, Other Payables [Member] | ProductiveTech, Inc. (PTI) [Member] | |||||||||||||
NOTE 8 - EQUITY (Details) [Line Items] | |||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | 64,484 | ||||||||||||
Business Acquisition, Share Price (in Dollars per share) | $ 4.032 | ||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned (in Dollars) | $ 260,000 | ||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Basis for Determining Value | The stock price was based on the average close price of SSNT stock for the five trading days immediately preceding the closing date |
NOTE 8 - EQUITY (Details) - Sc
NOTE 8 - EQUITY (Details) - Schedule of Share-based Compensation, Stock Options, Activity - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule of Share-based Compensation, Stock Options, Activity [Abstract] | |||
Number of Options Outstanding | 143,576 | 183,576 | 163,846 |
Options Outstanding, Average Exercise Price | $ 4.33 | $ 4.49 | $ 4.65 |
Options Outstanding, Average Remaining Contractual Term | 1 year 219 days | 2 years 255 days | 2 years 6 months |
Options Outstanding, Aggregate Intrinsic Value | $ 0 | $ 0 | $ 0 |
Number of Options Vested | 103,575 | 119,243 | |
Options Vested, Average Exercise Price | $ 4.47 | $ 4.70 | |
Options Vested, Average Remaining Contractual Term | 1 year | 2 years | |
Options Vested, Aggregate Intrinsic Value | $ 0 | $ 0 | |
Number of Options granted | 0 | 35,000 | |
Options Granted, Average Exercise Price | $ 0 | $ 3.76 | |
Options Granted, Average Remaining Contractual Term | 4 years 73 days | ||
Options Canceled/forfeited, Average Exercise Price | (40,000) | (15,270) | |
Options Canceled/forfeited, Average Remaining Contractual Term | $ 4.50 | $ 4.61 |
NOTE 8 - EQUITY (Details) - 47
NOTE 8 - EQUITY (Details) - Schedule of Stockholders' Equity Note, Warrants or Rights - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Abstract] | ||
Warrants Outstanding and Exercisable | 203,253 | 0 |
Warrants Outstanding and Exercisable, Weighted Average Exercise Price | $ 5.29 | $ 0 |
Warrants Granted | 0 | 203,253 |
Warrants Granted, Weighted Average Exercise Price | $ 0 | $ 5.29 |
Warrants Exercised | 0 | 0 |
Warrants Exercised, Weighted Average Exercise Price | $ 0 | $ 0 |
Warrants Canceled | 0 | 0 |
Warrants Canceled, Weighted Average Exercise Price | $ 0 | $ 0 |
Warrants Outstanding and Exercisable | 203,253 | 203,253 |
Warrants Outstanding and Exercisable, Weighted Average Exercise Price | $ 5.29 | $ 5.29 |
NOTE 9 - BUSINESS COMBINATION48
NOTE 9 - BUSINESS COMBINATION (Details) - USD ($) | Dec. 09, 2016 | Oct. 19, 2015 | Oct. 01, 2015 | Jul. 06, 2015 | Mar. 11, 2015 | May 06, 2014 | Dec. 31, 2016 | Dec. 31, 2015 |
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Payments to Acquire Businesses, Gross | $ 0 | $ 709,893 | ||||||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 66,667 | 66,667 | ||||||
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 3 | |||||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | $ 1,212,665 | 434,305 | ||||||
Operating Expenses | 11,459,899 | 10,485,746 | ||||||
2000 SOFT, Inc. DBA Accounting Technology Resource (ATR) [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Business Combination, Contingent Consideration Arrangements, Description | Company will pay 10% of the net margin on maintenance renewals for former ATR customers for the first twelve months and 5% of the net margin on maintenance renewals for the following twelve months | |||||||
Business Combination, Contingent Consideration, Liability | $ 22,000 | 29 | ||||||
Finite-Lived Intangible Asset, Useful Life | 7 years | |||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 0 | |||||||
Payments to Acquire Businesses, Gross | 80,000 | |||||||
Business Combination, Consideration Transferred, Other | 0 | |||||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 84,099 | 65,911 | ||||||
Revenues | 1,206,445 | 945,523 | ||||||
Operating Expenses | 1,122,346 | 879,612 | ||||||
2000 SOFT, Inc. DBA Accounting Technology Resource (ATR) [Member] | Notes Payable, Other Payables [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 175,000 | 175,000 | ||||||
Payments to Acquire Intangible Assets | 80,000 | |||||||
Debt Instrument, Face Amount | $ 175,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | |||||||
Debt Instrument, Periodic Payment | $ 5,012 | |||||||
2000 SOFT, Inc. DBA Accounting Technology Resource (ATR) [Member] | Convertible Debt [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 0 | |||||||
ProductiveTech, Inc. (PTI) [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 259,226 | |||||||
Payments to Acquire Businesses, Gross | 483,471 | |||||||
Business Combination, Consideration Transferred, Other | 0 | |||||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 42,477 | |||||||
Revenues | 911,038 | |||||||
Operating Expenses | 868,561 | |||||||
ProductiveTech, Inc. (PTI) [Member] | Notes Payable, Other Payables [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 600,000 | |||||||
Payments to Acquire Intangible Assets | $ 483,471 | |||||||
Debt Instrument, Face Amount | $ 600,000 | |||||||
Debt Instrument, Term | 60 months | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.50% | |||||||
Debt Instrument, Periodic Payment | $ 10,645 | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | 64,484 | |||||||
Business Acquisition, Share Price (in Dollars per share) | $ 4.032 | |||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 260,000 | |||||||
ProductiveTech, Inc. (PTI) [Member] | Convertible Debt [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 0 | |||||||
The Macabe Associates, Inc. (Macabe) [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Business Combination, Contingent Consideration Arrangements, Description | As additional consideration, the Company paid $5,500 cash after twelve months from closing and will pay $5,500 cash twenty-four months from closing on the net-to-SWK revenues for Software and Maintenance sales if certain estimates are met for a total of $11,000 and was recorded as part of the contingent consideration included in the purchase price. Additionally, the Company will pay 35% of the net margin on software maintenance renewals for former Macabe customers for the first twelve months, and then 30%, 25% and 20% of the net margin on software maintenance renewals for the following three years. The Company will also pay 50% the first year, and 40%, 30% and 20% the three years after on the net margin on EASY Solution Maintenance, new software & license to existing Macabe customers and EASY Solutions software and maintenance sales to new customers. On any former Macabe customers migrating to Netsuite, X3 or Acumatica, the Company will pay 50% of the net margin of the sale after applicable costs and commissions for the three years period after the acquisition. | |||||||
Business Combination, Contingent Consideration, Liability | $ 417,971 | 211,685 | ||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 0 | |||||||
Payments to Acquire Businesses, Gross | $ 21,423 | 21,423 | ||||||
Business Combination, Consideration Transferred, Other | 0 | |||||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 127,917 | 33,835 | ||||||
Revenues | 1,635,334 | 432,564 | ||||||
Operating Expenses | 1,507,417 | 398,729 | ||||||
The Macabe Associates, Inc. (Macabe) [Member] | Convertible Debt [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 0 | |||||||
Oates & Company, LLC (Oates) [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Finite-Lived Intangible Asset, Useful Life | 7 years | |||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 0 | |||||||
Payments to Acquire Businesses, Gross | $ 125,000 | 125,000 | ||||||
Business Combination, Consideration Transferred, Other | 92,127 | 92,127 | ||||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 41,710 | 8,819 | ||||||
Revenues | 2,476,706 | 523,668 | ||||||
Operating Expenses | 2,434,996 | 514,849 | ||||||
Oates & Company, LLC (Oates) [Member] | Notes Payable, Other Payables [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 175,000 | 175,000 | ||||||
Debt Instrument, Term | 3 years | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | |||||||
Debt Instrument, Periodic Payment | $ 5,012 | |||||||
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 3 | |||||||
Convertible Debt | 108,018 | |||||||
Oates & Company, LLC (Oates) [Member] | Convertible Debt [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 200,000 | 200,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.00% | |||||||
Convertible Debt | 81,218 | |||||||
ESC Inc. DBA ESC Software [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 83,534 | |||||||
Revenues | 1,791,610 | |||||||
Operating Expenses | $ 1,708,076 | |||||||
ESC Inc. DBA ESC Software [Member] | Notes Payable, Other Payables [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Debt Instrument, Face Amount | $ 350,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | |||||||
Debt Instrument, Periodic Payment | $ 6,135 | |||||||
Customer Lists [Member] | 2000 SOFT, Inc. DBA Accounting Technology Resource (ATR) [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Payments to Acquire Businesses, Gross | $ 80,000 | |||||||
Customer Lists [Member] | ProductiveTech, Inc. (PTI) [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Finite-Lived Intangible Asset, Useful Life | 15 years | |||||||
Customer Lists [Member] | The Macabe Associates, Inc. (Macabe) [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Finite-Lived Intangible Asset, Useful Life | 15 years | |||||||
Computer Software, Intangible Asset [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Finite-Lived Intangible Asset, Useful Life | 5 years | |||||||
Computer Software, Intangible Asset [Member] | The Macabe Associates, Inc. (Macabe) [Member] | ||||||||
NOTE 9 - BUSINESS COMBINATION (Details) [Line Items] | ||||||||
Finite-Lived Intangible Asset, Useful Life | 5 years |
NOTE 9 - BUSINESS COMBINATION
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed - USD ($) | Oct. 19, 2015 | Oct. 01, 2015 | Jul. 06, 2015 | Mar. 11, 2015 | Dec. 31, 2016 | Dec. 31, 2015 |
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash consideration | $ 0 | $ 709,893 | ||||
Goodwill | $ 401,000 | 401,000 | ||||
2000 SOFT, Inc. DBA Accounting Technology Resource (ATR) [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash consideration | 80,000 | |||||
Stock | 0 | |||||
Working capital adjustment | 0 | |||||
Total purchase price | 276,656 | |||||
Accounts receivable | 0 | |||||
Unbilled services | 0 | |||||
Prepaid expenses and other current assets | 0 | |||||
Property and equipment | 0 | |||||
Goodwill | 18,000 | |||||
Total assets acquired | 276,656 | |||||
Current liabilities | 0 | |||||
Capital lease obligations | 0 | |||||
Liabilities acquired | 0 | |||||
Net assets acquired | 276,656 | |||||
Contingent consideration | 21,656 | |||||
2000 SOFT, Inc. DBA Accounting Technology Resource (ATR) [Member] | Convertible Debt [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Note incurred | 0 | |||||
2000 SOFT, Inc. DBA Accounting Technology Resource (ATR) [Member] | Notes Payable, Other Payables [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Note incurred | $ 175,000 | 175,000 | ||||
ProductiveTech, Inc. (PTI) [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash consideration | 483,471 | |||||
Stock | 259,226 | |||||
Working capital adjustment | 0 | |||||
Total purchase price | 1,342,697 | |||||
Accounts receivable | 129,709 | |||||
Unbilled services | 10,369 | |||||
Prepaid expenses and other current assets | 14,039 | |||||
Property and equipment | 93,300 | |||||
Goodwill | 311,000 | |||||
Total assets acquired | 1,491,718 | |||||
Current liabilities | (124,300) | |||||
Capital lease obligations | (24,721) | |||||
Liabilities acquired | (149,021) | |||||
Net assets acquired | 1,342,697 | |||||
ProductiveTech, Inc. (PTI) [Member] | Convertible Debt [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Note incurred | 0 | |||||
ProductiveTech, Inc. (PTI) [Member] | Notes Payable, Other Payables [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Stock | $ 260,000 | |||||
Note incurred | 600,000 | |||||
The Macabe Associates, Inc. (Macabe) [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash consideration | $ 21,423 | 21,423 | ||||
Stock | 0 | |||||
Working capital adjustment | 0 | |||||
Total purchase price | 450,394 | |||||
Accounts receivable | 0 | |||||
Unbilled services | 0 | |||||
Prepaid expenses and other current assets | 0 | |||||
Property and equipment | 6,377 | |||||
Goodwill | 7,000 | |||||
Total assets acquired | 478,971 | |||||
Current liabilities | (28,577) | |||||
Capital lease obligations | 0 | |||||
Liabilities acquired | (28,577) | |||||
Net assets acquired | 450,394 | |||||
Contingent consideration | 428,971 | |||||
The Macabe Associates, Inc. (Macabe) [Member] | Convertible Debt [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Note incurred | 0 | |||||
Oates & Company, LLC (Oates) [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash consideration | $ 125,000 | 125,000 | ||||
Stock | 0 | |||||
Working capital adjustment | (92,127) | (92,127) | ||||
Total purchase price | 407,873 | |||||
Accounts receivable | 230,480 | |||||
Unbilled services | 0 | |||||
Prepaid expenses and other current assets | 10,182 | |||||
Property and equipment | 17,000 | |||||
Goodwill | 9,000 | |||||
Total assets acquired | 690,662 | |||||
Current liabilities | (282,789) | |||||
Capital lease obligations | 0 | |||||
Liabilities acquired | (282,789) | |||||
Net assets acquired | 407,873 | |||||
Contingent consideration | 0 | |||||
Oates & Company, LLC (Oates) [Member] | Convertible Debt [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Note incurred | 200,000 | 200,000 | ||||
Oates & Company, LLC (Oates) [Member] | Notes Payable, Other Payables [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Note incurred | $ 175,000 | 175,000 | ||||
Computer Software, Intangible Asset [Member] | 2000 SOFT, Inc. DBA Accounting Technology Resource (ATR) [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Intangible assets | 0 | |||||
Computer Software, Intangible Asset [Member] | ProductiveTech, Inc. (PTI) [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Intangible assets | 0 | |||||
Computer Software, Intangible Asset [Member] | The Macabe Associates, Inc. (Macabe) [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Intangible assets | 57,000 | |||||
Computer Software, Intangible Asset [Member] | Oates & Company, LLC (Oates) [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Intangible assets | 0 | |||||
Customer Lists [Member] | 2000 SOFT, Inc. DBA Accounting Technology Resource (ATR) [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash consideration | 80,000 | |||||
Intangible assets | 258,656 | |||||
Customer Lists [Member] | ProductiveTech, Inc. (PTI) [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Intangible assets | 933,301 | |||||
Customer Lists [Member] | The Macabe Associates, Inc. (Macabe) [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Intangible assets | 408,594 | |||||
Customer Lists [Member] | Oates & Company, LLC (Oates) [Member] | ||||||
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Intangible assets | $ 424,000 |
NOTE 9 - BUSINESS COMBINATION50
NOTE 9 - BUSINESS COMBINATION (Details) - Schedule of Business Acquisition, Pro Forma Information | 12 Months Ended |
Dec. 31, 2015USD ($)$ / shares | |
Schedule of Business Acquisition, Pro Forma Information [Abstract] | |
Net sales | $ 31,663,312 |
Operating expenses | 12,245,402 |
Income before taxes | 583,074 |
Net income | $ 472,493 |
Basic and diluted income per common share (in Dollars per share) | $ / shares | $ 0.11 |
NOTE 10 - INCOME TAXES (Details
NOTE 10 - INCOME TAXES (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
NOTE 10 - INCOME TAXES (Details) [Line Items] | ||
Operating Loss Carryforwards | $ 6,651,000 | |
Income Tax Expense (Benefit) | $ (2,223,734) | $ 60,000 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 34.00% |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 5.00% | 5.00% |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 2,563,637 | $ 200,000 |
Minimum [Member] | ||
NOTE 10 - INCOME TAXES (Details) [Line Items] | ||
Operating Loss Carryforwards, Expiration Date | 2,026 | |
Maximum [Member] | ||
NOTE 10 - INCOME TAXES (Details) [Line Items] | ||
Operating Loss Carryforwards, Expiration Date | 2,034 | |
Valuation Allowance of Deferred Tax Assets [Member] | ||
NOTE 10 - INCOME TAXES (Details) [Line Items] | ||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ (560,000) | |
Domestic Tax Authority [Member] | ||
NOTE 10 - INCOME TAXES (Details) [Line Items] | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 40.00% | |
State and Local Jurisdiction [Member] | ||
NOTE 10 - INCOME TAXES (Details) [Line Items] | ||
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 5.00% |
NOTE 10 - INCOME TAXES (Detail
NOTE 10 - INCOME TAXES (Details) - Schedule of Deferred Tax Assets and Liabilities - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Net operating loss carry forwards | $ 2,660,000 | $ 2,785,000 |
Long lived assets | 355,000 | 320,000 |
Share based payments | 8,000 | 8,000 |
Allowance for doubtful accounts | 150,000 | 150,000 |
Other | 11,000 | 7,000 |
Deferred tax asset | 3,184,000 | 3,270,000 |
Deferred tax liabilities: | ||
Long lived assets | (179,000) | (155,000) |
Deferred tax liabilities | (179,000) | (155,000) |
Net deferred tax asset | 3,005,000 | 3,115,000 |
Less: Valuation allowance | (590,098) | (2,915,000) |
Net deferred tax asset | $ 2,414,902 | $ 200,000 |
NOTE 10 - INCOME TAXES (Deta53
NOTE 10 - INCOME TAXES (Details) - Schedule of Effective Income Tax Rate Reconciliation | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Effective Income Tax Rate Reconciliation [Abstract] | ||
Federal income tax rate | 34.00% | 34.00% |
State income tax, net of federal benefit | 5.00% | 5.00% |
Permanent differences | 6.00% | 6.00% |
Prior year adjustments | (20.00%) | (5.00%) |
25.00% | 40.00% | |
Change in valuation allowance | (208.00%) | (26.00%) |
Effective income tax rate | (183.00%) | 14.00% |
NOTE 10 - INCOME TAXES (Deta54
NOTE 10 - INCOME TAXES (Details) - Schedule of Components of Income Tax Expense (Benefit) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Current: | ||
Federal | $ (108,832) | $ 182,000 |
State and local | 100,000 | 40,000 |
Total current tax (benefit) provision | (8,832) | 222,000 |
Deferred: | ||
Federal | 334,786 | 34,200 |
State and local | 13,949 | 3,800 |
Release of valuation allowance | (2,563,637) | (200,000) |
Total deferred tax provision (benefit) | (2,214,902) | (162,000) |
Total (benefit) provision | $ (2,223,734) | $ 60,000 |
NOTE 11 - RELATED PARTY TRANS55
NOTE 11 - RELATED PARTY TRANSACTIONS (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
NOTE 11 - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ||
Operating Leases, Rent Expense | $ 365,205 | $ 247,527 |
Building [Member] | North Syracuse, New York [Member] | ||
NOTE 11 - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ||
Operating Leases, Rent Expense, Minimum Rentals | 2,100 | |
Operating Leases, Rent Expense | $ 25,200 | 25,200 |
Building [Member] | Seattle, WA [Member] | ||
NOTE 11 - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ||
Lease Expiration Date | Sep. 30, 2018 | |
Operating Leases, Rent Expense, Minimum Rentals | $ 3,000 | |
Operating Leases, Rent Expense | $ 36,270 | $ 9,000 |
Building [Member] | Chief Financial Officer [Member] | North Syracuse, New York [Member] | ||
NOTE 11 - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ||
Lease Expiration Date | May 31, 2018 | |
Operating Leases, Rent Expense, Minimum Rentals | $ 2,100 | |
Building [Member] | Affiliated Entity [Member] | Seattle, WA [Member] | ||
NOTE 11 - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ||
Operating Leases, Rent Expense, Minimum Rentals | $ 3,090 | |
Operating Leases, Rent Expense, Yearly Increase in Minimum Rentals | 3.00% |
NOTE 12 - COMMITMENTS (Details)
NOTE 12 - COMMITMENTS (Details) | Mar. 01, 2017USD ($)ft² | Jan. 13, 2017USD ($) | Jan. 01, 2017USD ($)ft² | Feb. 04, 2016USD ($) | Dec. 31, 2016USD ($)ft² | Dec. 31, 2015USD ($) | Jan. 12, 2017ft² |
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Lessee Leasing Arrangements, Operating Leases, Term of Contract | 2 months | ||||||
Operating Leases, Rent Expense | $ 365,205 | $ 247,527 | |||||
Livingston, New Jersey [Member] | Building [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Area of Real Estate Property (in Square Feet) | ft² | 6,986 | ||||||
Operating Leases, Rent Expense, Minimum Rentals | $ 7,400 | ||||||
North Syracuse, New York [Member] | Building [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Operating Leases, Rent Expense, Minimum Rentals | $ 2,100 | ||||||
Lessee Leasing Arrangements, Operating Leases, Term of Contract | 3 years | ||||||
Operating Leases, Rent Expense | $ 25,200 | 25,200 | |||||
Skokie, Illinois [Member] | Building [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Area of Real Estate Property (in Square Feet) | ft² | 2,700 | ||||||
Operating Leases, Rent Expense, Minimum Rentals | $ 3,000 | ||||||
Lease Expiration Date | Apr. 30, 2018 | ||||||
Minneapolis, Minnesota [Member] | Building [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Area of Real Estate Property (in Square Feet) | ft² | 702 | ||||||
Operating Leases, Rent Expense, Minimum Rentals | $ 1,515 | ||||||
Lease Expiration Date | Mar. 31, 2017 | ||||||
Phoenix, AZ [Member] | Building [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Area of Real Estate Property (in Square Feet) | ft² | 2,105 | ||||||
Lease Expiration Date | Sep. 30, 2019 | ||||||
Seattle, WA [Member] | Building [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Area of Real Estate Property (in Square Feet) | ft² | 1,500 | ||||||
Operating Leases, Rent Expense, Minimum Rentals | $ 3,000 | ||||||
Lease Expiration Date | Sep. 30, 2018 | ||||||
Operating Leases, Rent Expense | $ 36,270 | $ 9,000 | |||||
Spartanburg, SC [Member] | Building [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Area of Real Estate Property (in Square Feet) | ft² | 383 | ||||||
Operating Leases, Rent Expense, Minimum Rentals | $ 450 | ||||||
Greensboro, NC [Member] | Building [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Area of Real Estate Property (in Square Feet) | ft² | 3,422 | ||||||
Operating Leases, Rent Expense, Minimum Rentals | $ 4,182 | ||||||
Greensboro, NC [Member] | Building [Member] | Subsequent Event [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Area of Real Estate Property (in Square Feet) | ft² | 2,267 | 2,267 | |||||
Operating Leases, Rent Expense, Minimum Rentals | $ 2,765 | $ 2,765 | |||||
Lease Expiration Date | Feb. 28, 2020 | Feb. 28, 2020 | |||||
Santa Ana, CA [Member] | Building [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Area of Real Estate Property (in Square Feet) | ft² | 1,745 | ||||||
Lease Expiration Date | Apr. 30, 2018 | ||||||
East Hanover, NJ [Member] | Building [Member] | Subsequent Event [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Area of Real Estate Property (in Square Feet) | ft² | 5,129 | ||||||
Operating Leases, Rent Expense, Minimum Rentals | $ 8,762 | ||||||
East Hanover, NJ [Member] | Building [Member] | Escalating Rent Expense [Member] | Subsequent Event [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Operating Leases, Rent Expense, Minimum Rentals | $ 10,044 | ||||||
Employment Agreement [Member] | Chief Executive Officer [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Employment Agreement, Description | The term of the Meller Employment Agreement is for an additional 7 years through September of 2023 (the “Term”) and shall automatically renew for additional periods of one year unless otherwise terminated in accordance with the therein | ||||||
Officers' Compensation | $ 565,000 | ||||||
Increase in Base Salary Year Over Year, Percentage | 10.00% | ||||||
Other Commitments, Description | The Meller Employment Agreement provides for a severance payment to Mr. Meller of three hundred percent (300%), less $100,000 of his gross income for services rendered to the Company in each of the five prior calendar years should his employment be terminated following a change in control (as defined in the Meller Employment Agreement). | ||||||
Minimum [Member] | Phoenix, AZ [Member] | Building [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Operating Leases, Rent Expense, Minimum Rentals | $ 1,271 | ||||||
Minimum [Member] | Santa Ana, CA [Member] | Building [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Operating Leases, Rent Expense, Minimum Rentals | 3,225 | ||||||
Maximum [Member] | Phoenix, AZ [Member] | Building [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Operating Leases, Rent Expense, Minimum Rentals | 2,894 | ||||||
Maximum [Member] | Santa Ana, CA [Member] | Building [Member] | |||||||
NOTE 12 - COMMITMENTS (Details) [Line Items] | |||||||
Operating Leases, Rent Expense, Minimum Rentals | $ 3,402 |
NOTE 12 - COMMITMENTS (Details
NOTE 12 - COMMITMENTS (Details) - Schedule of Future Minimum Rental Payments for Operating Leases | Dec. 31, 2016USD ($) |
Schedule of Future Minimum Rental Payments for Operating Leases [Abstract] | |
2,017 | $ 249,012 |
2,018 | 205,558 |
2,019 | 135,465 |
2,020 | 111,983 |
2,021 | 114,548 |
Thereafter | $ 276,966 |
NOTE 13 - SUBSEQUENT EVENTS (De
NOTE 13 - SUBSEQUENT EVENTS (Details) | Jan. 27, 2017shares | Jan. 23, 2017USD ($)$ / shares | Jan. 13, 2017USD ($) | Jan. 12, 2017USD ($)ft² | Jan. 01, 2017USD ($)ft² | Dec. 31, 2016USD ($)ft² |
NOTE 13 - SUBSEQUENT EVENTS (Details) [Line Items] | ||||||
Dividends, Common Stock, Cash | $ 264,699 | |||||
Subsequent Event [Member] | ||||||
NOTE 13 - SUBSEQUENT EVENTS (Details) [Line Items] | ||||||
Common Stock, Dividends, Per Share, Declared (in Dollars per share) | $ / shares | $ 0.02 | |||||
Dividends, Common Stock, Cash | $ 89,566 | |||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in Shares) | shares | 100 | |||||
Number of Employees | 125 | |||||
Building [Member] | Greensboro, NC [Member] | ||||||
NOTE 13 - SUBSEQUENT EVENTS (Details) [Line Items] | ||||||
Area of Real Estate Property (in Square Feet) | ft² | 3,422 | |||||
Operating Leases, Rent Expense, Minimum Rentals | $ 4,182 | |||||
Building [Member] | Subsequent Event [Member] | Thorofare, NJ [Member] | ||||||
NOTE 13 - SUBSEQUENT EVENTS (Details) [Line Items] | ||||||
Area of Real Estate Property (in Square Feet) | ft² | 6,115 | |||||
Operating Leases, Rent Expense, Minimum Rentals | $ 4,591 | |||||
Lease Expiration Date | Feb. 28, 2022 | |||||
Building [Member] | Subsequent Event [Member] | Greensboro, NC [Member] | ||||||
NOTE 13 - SUBSEQUENT EVENTS (Details) [Line Items] | ||||||
Area of Real Estate Property (in Square Feet) | ft² | 2,267 | 2,267 | ||||
Operating Leases, Rent Expense, Minimum Rentals | $ 2,765 | $ 2,765 | ||||
Lease Expiration Date | Feb. 28, 2020 | Feb. 28, 2020 | ||||
Building [Member] | Escalating Rent Expense [Member] | Subsequent Event [Member] | Thorofare, NJ [Member] | ||||||
NOTE 13 - SUBSEQUENT EVENTS (Details) [Line Items] | ||||||
Operating Leases, Rent Expense, Minimum Rentals | $ 5,168 |