SMG Industries (SMGI) 10-Q 14 Aug 14 2014 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Jun. 30, 2014	Aug. 12, 2014
Document Information [Line Items]	'	'
Entity Registrant Name	'SMG Indium Resources Ltd.	'
Entity Central Index Key	'0001426506	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Trading Symbol	'SMGI	'
Entity Common Stock, Shares Outstanding	'	8,561,997
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'

CONDENSED_BALANCE_SHEETS

CONDENSED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
Current Assets:	'	'
Cash and cash equivalents	$10,421,680	$2,090,295
Accounts receivable	2,428,095	0
Inventory repurchase right	0	943,573
Inventory - indium	6,421,929	14,318,244
Prepaid expenses and other current assets	78,728	33,932
Total Assets	19,350,432	17,386,044
Current Liabilities:	'	'
Accounts payable and accrued expenses, including Manager - related-party fee of $162,891 and $150,131 at June 30, 2014 and December 31, 2013, respectively	360,835	298,314
Unconditional sale and purchase agreement repurchase obligation	0	1,001,474
Deferred income	0	22,718
Total Liabilities	360,835	1,322,506
Commitments and Contingencies	'	'
Stockholders' Equity:	'	'
Preferred stock - $0.001 par value: authorized 1,000,000 shares at June 30, 2014 and December 31, 2013; issued and outstanding none at June 30, 2014 and December 31, 2013	0	0
Common stock - $0.001 par value: authorized 25,000,000 shares at June 30, 2014 and December 31, 2013; issued 8,832,301 shares at June 30, 2014 and December 31, 2013; outstanding 8,561,997 shares at June 30, 2014 and December 31, 2013	8,833	8,833
Additional paid-in capital	27,224,163	27,221,563
Accumulated deficit	-7,521,888	-10,445,347
Less treasury stock at cost: 270,304 shares at June 30, 2014 and December 31, 2013	-721,511	-721,511
Total Stockholders' Equity	18,989,597	16,063,538
Total Liabilities and Stockholders' Equity	$19,350,432	$17,386,044

CONDENSED_BALANCE_SHEETS_Paren

CONDENSED BALANCE SHEETS [Parenthetical] (USD $)	Jun. 30, 2014	Dec. 31, 2013
Manager - related party fee (in dollars)	$162,891	$150,131
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	8,832,301	8,832,301
Common stock, shares outstanding	8,561,997	8,561,997
Treasury Stock, Shares	270,304	270,304

CONDENSED_STATEMENTS_OF_OPERAT

CONDENSED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Net sales	$5,354,560	$0	$12,307,974	$0
Cost of sales	3,737,577	0	8,839,887	0
Gross profit	1,616,983	0	3,468,087	0
Operating costs:	'	'	'	'
Operating expenses - Manager - related party	162,891	150,359	325,783	307,792
Other selling, general and administrative expenses	95,478	192,301	224,324	345,053
Total operating costs	258,369	342,660	550,107	652,845
Operating income (loss)	1,358,614	-342,660	2,917,980	-652,845
Other income:	'	'	'	'
Interest income	3,906	3,235	5,462	6,335
Other income	27,272	39,353	60,017	49,309
Net income (loss) before income taxes	1,389,792	-300,072	2,983,459	-597,201
Income tax expense	-28,000	0	-60,000	0
Net income (loss)	$1,361,792	($300,072)	$2,923,459	($597,201)
Net Income (Loss) Per Share	'	'	'	'
Basic (in dollars per share)	$0.16	($0.03)	$0.34	($0.07)
Diluted (in dollars per share)	$0.16	($0.03)	$0.34	($0.07)
Weighted Average Number of Shares Outstanding	'	'	'	'
Basic (in shares)	8,561,997	8,802,968	8,561,997	8,804,298
Diluted (in shares)	8,562,634	8,802,968	8,562,697	8,804,298

CONDENSED_STATEMENT_OF_CHANGES

CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (USD $)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]
Balance at Dec. 31, 2013	$16,063,538	$8,833	$27,221,563	($10,445,347)	($721,511)
Balance (in shares) at Dec. 31, 2013	'	8,832,301	'	'	'
Awards of stock options to an officer	2,600	0	2,600	0	0
Net income (loss)	2,923,459	0	0	2,923,459	0
Balance at Jun. 30, 2014	$18,989,597	$8,833	$27,224,163	($7,521,888)	($721,511)
Balance (in shares) at Jun. 30, 2014	'	8,832,301	'	'	'

CONDENSED_STATEMENTS_OF_CASH_F

CONDENSED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net income (loss)	$2,923,459	($597,201)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:	'	'
Share-based compensation	2,600	3,150
Depreciation	0	175
Changes in operating assets and liabilities:	'	'
Increase in accounts receivable	-2,428,095	0
Increase in prepaid expenses and other current assets	-44,796	-31,884
Decrease (increase) in inventory - indium	7,896,315	-1,850
Decrease in inventory repurchase right	943,573	0
Increase in accounts payable and accrued expenses	62,521	42,610
(Decrease) increase in unconditional sale and purchase agreement repurchase obligation	-1,001,474	1,024,192
(Decrease) increase in deferred income	-22,718	12,500
Net cash provided by operating activities	8,331,385	451,692
Cash flows from financing activities:	'	'
Purchase of treasury shares	0	-14,376
Cash distribution to stockholders	0	-880,270
Net cash used in financing activities	0	-894,646
Net increase (decrease) in cash and cash equivalents	8,331,385	-442,954
Cash and cash equivalents, at beginning of period	2,090,295	6,151,770
Cash and cash equivalents, at end of period	$10,421,680	$5,708,816

Organization_and_Nature_of_Bus

Organization and Nature of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation Of Financial Statements [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	'
	Note 1 — Organization and Nature of Business and Basis of Presentation
	Organization and Nature of Business
	SMG Indium Resources Ltd. (the “Company”) is a corporation established pursuant to the laws of the State of Delaware on January 7, 2008. The Company operates in a single-segment business. Since inception, the Company’s primary business purpose has been to stockpile indium, a specialty metal that is being used as a raw material in a wide variety of consumer electronics manufacturing applications. The primary commercial application of indium is in coatings for the flat panel display industry and in the liquid crystal display (“LCD”) industry on electronic devices such as television sets, computer monitors, cell phones and digital cameras. Indium is increasingly being used as a raw material in light emitting diodes (“LED”) and in the solar energy industry. Its main use in solar energy applications is for high-efficiency photovoltaic cells in the form of thin-film photovoltaic. Other uses of indium are in electrical components, alloys and solders. The Company has leased, lent or sold indium when management believed it was advantageous. In December 2013, the Company’s board of directors authorized management to sell its entire indium stockpile in 2014 based on prevailing market conditions. As a result, the Company does not anticipate purchasing any additional indium.
	The Company entered into a Management Services Agreement, as amended and restated on May 10, 2011 (the “MSA”), with a related party, Specialty Metals Group Advisors, LLC (“SMG Advisors” or the “Manager”). The primary responsibilities of the Manager are: (i) purchasing, lending, leasing and selling indium; (ii) submitting written reports to the Company’s board of directors detailing the delivery and payment particulars regarding each purchase, lease, loan or sale of indium; (iii) arranging for the storage of indium; (iv) preparing a biweekly report on the net market value (“NMV”), as defined below; (v) preparing any regulatory filings or special reports to the Company’s stockholders and board of directors; and (vi) managing the general business affairs of the Company. The MSA had an initial term of five years with options to renew upon mutual agreement between the parties. Pursuant to the terms of the MSA, the Company was required to pay the Manager a fee of 2% per annum of the monthly NMV. In December 2013, the Company entered into an amendment to the MSA under which the Manager fee for 2014 is fixed at $652 thousand. Also, under the amendment, the MSA expires in 2014, however, in certain circumstances, the MSA may be terminated earlier or renewed upon mutual agreement between the parties upon 90 days’ prior notice.
	NMV is not a United States generally accepted accounting principles (“U.S. GAAP”) measurement. It is an internally created formula used by the Company to monitor performance and to compute the management fee. NMV is determined by multiplying the number of kilograms of indium held by the Company by the last spot price for indium published by Metal Bulletin PLC and posted on Bloomberg L.P. (Bloomberg L.P. is not regulated or government approved) for the month plus cash and other Company assets, less any liabilities. At June 30, 2014 and December 31, 2013, the Company’s management calculated the NMV of the Company to be approximately $22.0 million and $22.2 million, respectively. At June 30, 2014 and December 31, 2013, the excess of NMV at the indium spot price as of the respective dates (as published by Metal Bulletin PLC and posted on Bloomberg L.P.) over the historical net book value was approximately $3.0 million and $6.1 million, respectively.
	Basis of Presentation
	The accompanying interim unaudited condensed financial statements have been prepared in accordance with U.S. GAAP and with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”).  Accordingly, these interim unaudited condensed financial statements do not include all of the disclosures required by U.S. GAAP for complete financial statements.  These interim unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, as filed with the SEC. In the opinion of management, the interim unaudited condensed financial statements included herein include all adjustments, all of which are of a normal recurring nature, necessary for a fair statement of the results for the interim periods presented. The condensed balance sheet at December 31, 2013 has been derived from the Company’s audited balance sheet as of December 31, 2013 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, as filed with the SEC. Operating results for the three and six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014 or any interim period.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	Note 2 — Summary of Significant Accounting Policies
	Use of Estimates
	The preparation of the financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of revenue and expenses during the reporting period. The most significant estimates relate to the valuation of indium inventory, share-based compensation, income tax, and income and revenue recognition. Actual results could differ from those estimates under different assumptions and conditions.
	Cash and Cash Equivalents
	The Company considers all highly liquid instruments with original maturities of 90 days or less at the time of purchase to be cash equivalents.
	Inventory of the Metal Indium
	The Company’s inventory or “stockpile” of the metal indium is recorded at cost, including all associated costs of delivering the indium to the bonded storage warehouse on the date the Company takes delivery of the physical metal. The stockpile of the physical metal indium and the related repurchase right were classified as current assets at June 30, 2014 and December 31, 2013 as the Company intends to sell its stockpile of indium in 2014 based on prevailing market conditions.
	The stockpile of the physical metal indium is carried at the lower of cost or market with cost being determined on a specific-identification method and market being determined as the net realizable value based on the spot prices obtained from Metal Bulletin as posted on Bloomberg L.P., a real-time financial information services data platform. The Company charges against earnings an inventory write-down on an interim basis for the amount by which the spot price of indium is less than cost on a specific-identification basis. Increases or decreases in the spot price of the same lots of indium held in inventory in later interim periods within the fiscal year are recognized in such interim periods. Increases in value recognized on an interim basis do not exceed the previously recognized diminution in value within that fiscal year. Further, the Company periodically reviews the indium stockpile to determine if a loss should be recognized where the utility of indium has been impaired on an other-than-temporary basis. Where such impairment is viewed as other-than-temporary, the Company will charge against earnings the amount by which the fair value is less than the cost. Through December 31, 2012, certain lots of indium in inventory were adjusted to reflect a lower of cost or market write-down aggregating approximately $5.9 million based on the spot price of indium of $485 per kilogram at December 31, 2012. As a result, the cost basis of all lots in inventory for accounting purposes is $485 or less per kilogram. The Company will not record any additional write-downs unless the spot price of indium falls below $485 per kilogram. Further, inventory cannot be increased above its adjusted cost based on increases in the spot price of indium. During 2013 and the first half of 2014, the spot price of indium has been above $485 per kilogram and, accordingly, no lower of cost or market adjustments to inventory were recorded during 2013 or the three and six months ended June 30, 2014. The spot price of indium at June 30, 2014 was $705 per kilogram.
	Basic and Diluted Net Income (Loss) per Share
	The Company presents both basic and diluted net income (loss) per share on the face of the statements of operations. Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) gives effect to all potentially dilutive common shares outstanding during the period including stock options, warrants and unit purchase options, using the treasury-stock method. If anti-dilutive, the effect of potentially dilutive common shares is ignored. In computing diluted net income (loss) per share, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock option or warrants. For the three and six months ended June 30, 2014, potential shares of common stock that resulted from the assumed exercise of outstanding stock options, with exercise prices less than the average market price of the Company’s common stock for the period, were calculated using the treasury stock method. All other potentially issuable shares of common stock have been excluded from the calculation because their effect would be antidilutive. For the three and six months ended March 30, 2013, all potentially issuable shares from outstanding options, warrants and unit purchase options have been excluded from the computation of the diluted net loss since the effect would be anti-dilutive due to the net loss for the period.
	Accounting for Direct Sales, Lending and Leasing Transactions
	The stockpile of indium may be used from time to time for “direct sales,” “lending” or “leasing” transactions. Under a “direct sale” transaction, the Company records revenue when there is pervasive evidence that an arrangement exists, delivery has occurred, the price is fixed or determinable and collectability is reasonably assured. Cost of sales is recorded for the indium carrying value based on specific-identification method. Allowances, if any, are recorded based on management’s best estimate for uncollectible accounts. There is no right of return. The Company may also enter into a lending transaction. In indium “lending” transactions, the Company would exchange a specified tonnage and purity of indium for cash. Title and the risks and rewards of such indium ownership would pass to the purchaser/counterparty in the lending transaction. The Company would simultaneously enter into an agreement with such counterparty in which it would unconditionally commit to purchase and the counterparty would unconditionally commit to sell a specified tonnage and purity of indium that would be delivered to the Company at a fixed price and at a fixed future date in exchange for cash (the Unconditional Sale and Purchase Agreement or “USPA”). The USPA would also contain terms providing the counterparty with disincentives (“penalty fees”) for nonperformance of the return of indium to the Company as a means to assure its future supply of indium. While the Company believes that this risk would be mitigated by the penalty fee features of the USPA, it is nonetheless a risk associated with a transaction of this type. The Company accounts for any USPA transaction on a combined basis (sale and purchase) and evaluates whether, and in what period, other income may be recognized based on the specific terms of any arrangements. The Company discloses unconditional purchase obligations under these arrangements and, if applicable, accrues any net losses on such unconditional purchase obligations. Further, the cost of inventory-indium under an open USPA is reported as “indium repurchase obligation” in the balance sheet at the end of a reporting period.
	Indium “lease” transactions are generally for a period of less than one year. Under the lease, a specified amount of indium is leased to the customer for a period of time. At the end of the lease, the lessee is obligated to return the equivalent quantity and purity of the indium that was delivered to the lessee at the beginning of the lease. The monthly rental income is recorded as other income over the term of the lease. In certain circumstances, the Company may sell indium to the lessee at a negotiated price.
	Income Taxes
	Income taxes are accounted under the asset-and-liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and the respective tax bases and operating loss and tax credit carryforwards. 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 is recognized in income in the period that includes the enactment date. The portion of any deferred tax asset for which it is more likely than not that a tax benefit will not be realized must then be offset by recording a valuation allowance. A valuation allowance has been established against all of the deferred tax assets, as it is more likely than not that these assets will not be realized given the Company’s history of operating losses and the fact that the Company cannot predict whether or at what prices it will be able to liquidate its stockpile in 2014. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company recognizes potential interest and penalties related to income tax positions as a component of the provision for income taxes on the statements of operations.
	For the three and six months ended June 30, 2014, the Company recorded $28 thousand and $60 thousand, respectively, for Federal income taxes. The Company’s effective tax rate for the three and six months ended June 30, 2014 was significantly lower than the statutory rate due to the utilization of its net operating loss carryforwards, which offset the Company’s taxable income, except for the Federal alternative minimum tax that is not offset by such operating losses. For the three and six months ended June 30, 2013, the Company did not record any income tax expense due to the fact that the Company expected to have a net loss for 2013 resulting in a tax benefit that was fully offset by a valuation reserve.
	Share-Based Payment Arrangements
	The Company measures the cost of employee services received in exchange for an award of equity instruments (share-based payments or “SBP”) based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the SBP award—the requisite service period (vesting period). For SBP awards subject to conditions, compensation is not recognized until the performance condition is probable of occurrence. The grant-date fair value of share options is estimated using the Black-Scholes-Merton option-pricing model. Compensation expense for SBP awards granted to nonemployees is remeasured each period as the underlying options vest. The Company recorded non-cash charges for SBP of approximately $1 thousand and $3 thousand for the three and six months ended June 30, 2014, respectively, and $2 thousand and $3 thousand for the three and six months ended June 30, 2013, respectively.
	The fair value of each option granted during the six months ended June 30, 2014 and 2013 was estimated on the date of grant using the Black-Scholes-Merton option-pricing model with the weighted average assumptions in the following table:
		Six Months Ended June 30,
		2014		2013
	Expected dividend yield	0	%	0	%
	Expected option term (years)	5		5
	Expected volatility	10.06	%	11.65	%
	Risk-free interest rate	1.73-1.77	%	0.75-0.77	%
	The expected term of options granted represents the period of time that options granted are expected to be outstanding. Because of the Company’s limited trading history and trading volume, the expected volatility was calculated based on the five-year volatility of indium. The assumed discount rate was the default risk-free five-year interest rate provided by Bloomberg L.P.
	Common Stock Purchase Contracts
	The Company classifies as equity any common stock purchase contracts that: (i) require physical settlement or net-share settlement or give the Company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement) and (ii) are indexed to the Company’s common stock. The Company classifies as assets or liabilities any common stock purchase contracts that: (i) require net-cash settlement (including a requirement to net-cash settle the contract if an event occurs and that event is outside the control of the Company), (ii) give the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement), or (iii) are not indexed to the Company’s common stock. The Company assesses classification of its equity-classified contracts at each reporting date to determine whether a change in classification between assets and liabilities is required. The Company’s outstanding common stock purchase contracts were accounted for as equity through June 30, 2014.
	Concentration of Credit and Market Risk
	The Company maintains cash deposits with banks that at times exceed applicable Federal Deposit Insurance Corporation limits. The Company reduces its exposure to credit risk by maintaining such deposits with high-quality financial institutions. The Company has not experienced any losses in such accounts. At June 30, 2014, the Company had cash on deposit of approximately $10.2 million in excess of federally insured limits of $250 thousand.
	The Company grants credit, without collateral, to specialty metals companies creating a credit risk with third parties that it sells, lends or leases indium. The Company seeks to reduce its credit risk by reviewing the third party’s credit portfolio, and, when deemed necessary obtains third party guarantees. To reduce its market risks for changes in the price of indium, the USPA and lease agreements contain terms providing the third party with disincentives (“penalty fees”) for nonperformance of the return of indium to the Company.
	Fair Value
	The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. For cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, other current liabilities and prepaid expenses and other current assets, the carrying amount approximated the fair value because of the immediate or short-term nature of those instruments. For inventory, the carrying amount is based on lower of cost or market calculated on a specific-identification method with market being determined by the spot price of indium published by Metal Bulletin as posted on Bloomberg L.P. (a Level 2 fair value measurement).
	Reclassifications
	Certain reclassifications were made to the 2013 statement of operations to conform to the presentation in 2014.
	Recently Issued Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (“ASU”) 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” This ASU will eliminate the diversity in practice in presentation of unrecognized tax benefits when a net operating loss carry-forward, a similar tax loss, or a tax credit carryforward exists at the reporting date. This new guidance requires the netting of unrecognized tax benefits against a deferred tax asset for a loss or other carry-forward that would apply in settlement of the uncertain tax positions. Under the new guidance, unrecognized tax benefits will be netted against all available same-jurisdiction loss or other tax carryforward that would be utilized, rather than only against carryforwards that are created by the unrecognized tax benefits. This guidance is effective prospectively, but allows optional retrospective adoption (for all periods presented), for reporting periods beginning after December 15, 2013. As this guidance relates to presentation only, the adoption of this guidance did not have any impact on the Company’s financial position or results of operations.
	The FASB recently issued ASU 2013-07, “ Presentation of Financial Statements (Topic 205) Liquidation Basis of Accounting ” that requires an entity to prepare its financial statements using the liquidation basis of accounting when liquidation is imminent, as defined in ASU 2013-07. ASU 2013-07’s objective is to eliminate diverse practices by providing guidance about when and how to apply the model. The guidance applies to all entities except for investment companies regulated under the Investment Company Act of 1940. Since there is no imminent plan to liquidate the Company, this ASU is not applicable for the Company’s current period financial statements.
	On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

USPA_and_Leasing_of_Indium

USPA and Leasing of Indium	6 Months Ended
	Jun. 30, 2014
Leases, Operating [Abstract]	'
Operating Leases And Lending Disclosure [Text Block]	'
	Note 3 — USPA and Leasing of Indium
	From time to time, the Company entered into USPAs where the Company sold indium at a fixed price and the buyers agreed to subsequently sell back to the Company the same quantity and purity of indium at a fixed price that was at a discount from the price per kilogram that the Company originally sold indium to the buyer. Any USPA is accounted for on a combined basis resulting in a gain as a result of the discount that is recorded in other income over the term of the agreement. At December 31, 2013, the Company had an unconditional obligation to repurchase indium in the first quarter of 2014 under a USPA, as amended. Accordingly, at December 31, 2013, the Company classified approximately $0.9 million of indium covered by the USPA as "indium repurchase right” in current assets in the accompanying unaudited condensed balance sheet. Further, at December 31, 2013, cash and cash equivalents included approximately $1.0 million received upon the sale of indium and a $1.0 million current liability had been recorded in the accompanying unaudited condensed balance sheet for the amount payable under the USPA for the Company’s unconditional obligation to buyback indium. In the first quarter of 2014, the counterparty to the USPA elected to buy from the Company all of the indium covered by the USPA.
	During the second quarter of 2013, the Company entered into a lease agreement, as amended, for a certain tonnage of indium that expires in 2014. During the first quarter of 2014, the lessee elected to purchase from the Company half of the indium under the lease. The lessee purchased another 60% of the remaining indium under the lease at the end of the second quarter of 2014 and agreed to purchase in July 2014 the remaining inventory. At June 30, 2014, approximately $0.5 million is included in inventory-indium in the accompanying unaudited condensed balance sheet representing the remaining amount of leased indium.
	During the three and six months ended June 30, 2014, the Company recorded other income of approximately $27 thousand and $60 thousand, respectively, and for the three months and six months ended June 30, 2013, $39 thousand and $49 thousand, respectively, under USPA and lease transactions.

Stockholders_Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2014
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	Note 4 — Stockholders’ Equity
	Equity Compensation Plan
	Under the Company’s 2008 Equity Incentive Plan (the “Plan”), the Company may grant incentive stock options, nonqualified stock options, restricted and unrestricted stock awards and other stock-based awards. Pursuant to the Plan, 1,000,000 shares of common stock are reserved for issuance under the Plan. Options are granted with exercise prices equal to or greater than the fair value of the common stock. The terms of the options are approved by the Company’s board of directors or one of its committees. Options granted to date have vested immediately and expire in five years. At June 30, 2014, there were 310,001 options available under the Plan for future grants.
	Stock Options
	Summary stock option information is as follows:
								Weighted
		Aggregate		Aggregate		Exercise Price		Average
		Number		Exercise Price		Range		Exercise Price
	Outstanding, December 31, 2013		679,999	$	3,207,443	$	2.45-7.50	$	4.72
	Granted		10,000		19,800	$	1.78-2.18	$	1.98
	Exercise		-		-		-		-
	Cancelled or Forfeited		-		-		-		-
	Outstanding, June 30, 2014		689,999	$	3,227,243	$	1.78-7.50	$	4.66
	The weighted average grant-date fair value was $0.26 and $0.32 for options granted during the six months ended June 30, 2014 and 2013, respectively. The weighted average remaining contractual life is 1.7 years for stock options outstanding at June 30, 2014.
	Warrants
	As of June 30, 2014, the Company has outstanding warrants exercisable for 6,993,701 shares of the Company’s common stock including 240,000 warrants underlying a Unit Purchase Option (“UPO”), as described below, which has not yet been exercised, all at an exercise price of $5.75 per share. Such warrants expire on May 4, 2016, except for 240,000 warrants underlying the UPO, which expire on May 4, 2015.
	The warrants contain a call feature that permits the Company to redeem the warrants at a price of $0.01 per warrant at any time after the warrants become exercisable, upon providing at least 30 days advance written notice of redemption, and if, and only if, the last sales price of the Company’s common stock equals or exceeds $8.00 per share for any 20 trading days within a 30-trading-day period ending three business days before the Company sends the notice of redemption. In addition, the Company may not redeem the warrants unless the warrants comprising the units and the shares of common stock underlying those warrants are covered by an effective registration statement from the beginning of the measurement period through the date scheduled for the redemption. If the foregoing conditions are satisfied and the Company calls the warrants for redemption, each warrant holder shall then be entitled to exercise their warrants prior to the date scheduled for redemption. The redemption provisions for the Company’s warrants have been established at a price that is intended to avail to the warrant holders a premium in the market price as compared to the initial exercise price. There can be no assurance, however, that the price of the common stock will exceed either the redemption price of the warrants of $8.00 or the warrant exercise price of $5.75 after the Company calls the warrants for redemption.
	The Company has outstanding UPOs previously issued to underwriters or their designees exercisable for 240,000 IPO units. The UPO allows the underwriters to purchase units at an exercise price of $5.50 per share and expires in May 2015.
	Stock Repurchase Program
	In May 2013, the Company’s board of directors authorized an increase in its stock repurchase program from $1.0 million to $3.0 million. Repurchases may occur from time to time in the open market or in privately negotiated transactions. The timing and amount of any repurchase of shares will be determined by the Company’s Manager, based on its evaluation of market conditions, cash on hand, alternative investment opportunities and other factors. The authorization will stay in effect until December 31, 2014. The program does not obligate the Company to acquire any particular amount of stock, and purchases under the program may be commenced or suspended at any time, or from time to time, without prior notice. Further, the stock repurchase program may be modified, extended or terminated by the board of directors at any time. From the inception of the stock repurchase program and through June 30, 2014, the Company has purchased 270,304 shares of its common stock and 4,400 warrants for an aggregate purchase price of approximately $0.7 million.

Net_Income_Loss_Per_Share

Net Income (Loss) Per Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	Note 5 —Net Income (Loss) Per Share
	Per share data is based on the weighted average number of shares of the Company’s common stock during the relevant period. Basic net income (loss) per share is calculated using the weighted average number of outstanding shares of common stock. Diluted net income (loss) per share computations, as calculated under the treasury stock method, include the weighted average number of shares of additional common stock issuable for stock options, warrants and unit purchase options. Diluted net income (loss) per share for all the periods presented does not include securities if their effect was anti-dilutive.
		For the Three Months Ended June 30,				For the Six Months Ended June 30,
		2014		2013		2014		2013
		(in thousands, except per share amounts)
	Net income (loss)	$	1,362	$	-300	$	2,923	$	-597
	Basic Net Income (Loss) Per Share
	Weighted average basic common shares outstanding		8,562		8,803		8,562		8,804
	Basic net income (loss) per share	$	0.16	$	-0.03	$	0.34	$	-0.07
	Diluted Net Income (Loss) Per Share
	Weighted average basic common shares outstanding		8,562		8,803		8,562		8,804
	Dilutive effect of stock options outstanding		1		-		1		-
	Weighted average dilutive common shares		8,563		8,803		8,563		8,804
	Diluted income (loss) per share	$	0.16	$	-0.03	$	0.34	$	-0.07
	Stock option and warrant shares excluded from the
	weighted average dilutive common shares because
	the effect would be antidilutive		7,919		7,904		7,919		7,904

RelatedParty_Transactions

Related-Party Transactions	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	Note 6 — Related-Party Transactions
	The members of SMG Advisors, and the positions they hold in the Company, are as follows: Ailon Z. Grushkin, President and Chairman of the Board; BRACK Advisors LLC, an entity controlled by Richard A. Biele, Chief Operating Officer; Alan C. Benjamin, Chief Executive Officer; and RCM Indium, LLC, an entity controlled by William C. Martin, Director. The members of SMG Advisors beneficially own an aggregate of 50% of the Company’s outstanding common stock. SMG Advisors is managed by Ailon Z. Grushkin. The Manager’s financial statements are not consolidated with those of the Company. Pursuant to the MSA, the Manager is responsible for: (i) purchasing, leasing, lending and selling indium; (ii) submitting written reports to the Company’s board of directors detailing the delivery and payment particulars regarding each purchase, lease, loan or sale; (iii) arranging for the storage of indium; (iv) preparing a report on the Company’s NMV; (v) preparing any regulatory filing materials or special reports to the Company’s stockholders and board of directors; and (vi) managing the general business and affairs of the Company.
	The MSA had an initial term ending in 2016, with options to renew the agreement on terms mutually acceptable to each party and may be terminated by either party upon 90 days’ prior written notice. The Company is responsible for paying all costs and expenses incurred in connection with the business, except those expressly assumed by the Manager. The Company paid the Manager a fee equal to 2 % per annum, payable monthly, based on NMV, at the end of each month. The MSA was amended in December 2013 and, as amended, expires at the end of 2014. However, the MSA may be terminated earlier based on certain conditions or may be renewed on terms mutually acceptable to each party upon 90 days’ prior written notice. The Manager fee under the amended MSA is fixed at $652 thousand for 2014. Such Manager fees aggregated approximately $0.2 million for both the three months ended June 30, 2014 and 2013 and $0.3 million for both the six months ended June 30, 2014 and 2013.
	The Company paid a relative of one of its officers to perform outsourced secretarial services for the Company $5 thousand per quarter during both 2014 and 2013.
	The Company believes that all related-party transactions were made on terms no less favorable to the Company than could have been obtained from unaffiliated parties. The Company does not engage in any transactions with its officers and directors involving purchasing, leasing, lending, or selling indium to or from the Company, except pursuant to the terms of the MSA.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	Note 7 — Commitments and Contingencies
	Management Services Agreement
	As described in note 6, the Company is required to pay the Manager a fee of $652 thousand in 2014 under the MSA, as amended.
	Compensation
	The Company has an arrangement with its chief financial officer (“CFO”) for an annual base compensation of $60 thousand to be paid quarterly. Further, the Company agreed to grant the CFO quarterly five-year options to acquire 5,000 shares of common stock vesting at the date of grant and exercisable at the market value at the date of grant. In 2013, the compensation committee approved a 2013 bonus to the CFO of $25 thousand that was paid in January 2014 and approved the CFO’s eligibility for a bonus of $25 thousand in 2014.The compensation committee of the board of directors has approved the payment of $10 thousand per year to each of the nonexecutive board members, except for representatives of Raging Capital, and $1 thousand to such director for each meeting attended in person. The Company engages a relative of one of its officers to perform outsourced secretarial services for the Company at $5 thousand per quarter.
	The Company’s board of directors has approved a contingent cash bonus award of $0.1 million and a contingent award of 22,000 shares of restricted common stock to the Manager, a related party. The aforementioned award will be granted if the Company completes an additional equity offering raising a minimum of $15 million in one single transaction of cash or a combination of cash and indium metal in lieu of cash. Further, the board of directors has approved an additional contingent cash bonus award of $0.1 million and a contingent award of 22,000 shares of restricted common stock to the Manager, a related party, if the Company can successfully list its common stock on a major exchange. As of June 30, 2014, none of the aforementioned awards have been granted.
	Supply Agreement
	In December 2013, the Company entered into a monthly supply agreement where the Company is obligated to sell during 2014 approximately 78% of the indium stockpile that existed at December 31, 2013.

Segment_Information

Segment Information	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	Note 8 — Segment Information
	The Company operates in a single-segment business whose primary business is the purchase and sale of indium, a specialty metal that is being used as a raw material in a wide variety of consumer electronics manufacturing applications. Indium Corporation of America, Umicore USA Inc., and Vital Materials Co., Limited each account for more than 10 % of the Company’s net sales in 2014 which were mostly international.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Use Of Estimates, Policy [Policy Text Block]	'
	Use of Estimates
	The preparation of the financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of revenue and expenses during the reporting period. The most significant estimates relate to the valuation of indium inventory, share-based compensation, income tax, and income and revenue recognition. Actual results could differ from those estimates under different assumptions and conditions.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	'
	Cash and Cash Equivalents
	The Company considers all highly liquid instruments with original maturities of 90 days or less at the time of purchase to be cash equivalents.
Inventory, Policy [Policy Text Block]	'
	Inventory of the Metal Indium
	The Company’s inventory or “stockpile” of the metal indium is recorded at cost, including all associated costs of delivering the indium to the bonded storage warehouse on the date the Company takes delivery of the physical metal. The stockpile of the physical metal indium and the related repurchase right were classified as current assets at June 30, 2014 and December 31, 2013 as the Company intends to sell its stockpile of indium in 2014 based on prevailing market conditions.
	The stockpile of the physical metal indium is carried at the lower of cost or market with cost being determined on a specific-identification method and market being determined as the net realizable value based on the spot prices obtained from Metal Bulletin as posted on Bloomberg L.P., a real-time financial information services data platform. The Company charges against earnings an inventory write-down on an interim basis for the amount by which the spot price of indium is less than cost on a specific-identification basis. Increases or decreases in the spot price of the same lots of indium held in inventory in later interim periods within the fiscal year are recognized in such interim periods. Increases in value recognized on an interim basis do not exceed the previously recognized diminution in value within that fiscal year. Further, the Company periodically reviews the indium stockpile to determine if a loss should be recognized where the utility of indium has been impaired on an other-than-temporary basis. Where such impairment is viewed as other-than-temporary, the Company will charge against earnings the amount by which the fair value is less than the cost. Through December 31, 2012, certain lots of indium in inventory were adjusted to reflect a lower of cost or market write-down aggregating approximately $5.9 million based on the spot price of indium of $485 per kilogram at December 31, 2012. As a result, the cost basis of all lots in inventory for accounting purposes is $485 or less per kilogram. The Company will not record any additional write-downs unless the spot price of indium falls below $485 per kilogram. Further, inventory cannot be increased above its adjusted cost based on increases in the spot price of indium. During 2013 and the first half of 2014,
Earnings Per Share, Policy [Policy Text Block]	'
	Basic and Diluted Net Income (Loss) per Share
	The Company presents both basic and diluted net income (loss) per share on the face of the statements of operations. Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) gives effect to all potentially dilutive common shares outstanding during the period including stock options, warrants and unit purchase options, using the treasury-stock method. If anti-dilutive, the effect of potentially dilutive common shares is ignored. In computing diluted net income (loss) per share, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock option or warrants. For the three and six months ended June 30, 2014, potential shares of common stock that resulted from the assumed exercise of outstanding stock options, with exercise prices less than the average market price of the Company’s common stock for the period, were calculated using the treasury stock method. All other potentially issuable shares of common stock have been excluded from the calculation because their effect would be antidilutive. For the three and six months ended March 30, 2013, all potentially issuable shares from outstanding options, warrants and unit purchase options have been excluded from the computation of the diluted net loss since the effect would be anti-dilutive due to the net loss for the period.
Accounting For Direct Sales And Lending Transactions [Policy Text Block]	'
	Accounting for Direct Sales, Lending and Leasing Transactions
	The stockpile of indium may be used from time to time for “direct sales,” “lending” or “leasing” transactions. Under a “direct sale” transaction, the Company records revenue when there is pervasive evidence that an arrangement exists, delivery has occurred, the price is fixed or determinable and collectability is reasonably assured. Cost of sales is recorded for the indium carrying value based on specific-identification method. Allowances, if any, are recorded based on management’s best estimate for uncollectible accounts. There is no right of return. The Company may also enter into a lending transaction. In indium “lending” transactions, the Company would exchange a specified tonnage and purity of indium for cash. Title and the risks and rewards of such indium ownership would pass to the purchaser/counterparty in the lending transaction. The Company would simultaneously enter into an agreement with such counterparty in which it would unconditionally commit to purchase and the counterparty would unconditionally commit to sell a specified tonnage and purity of indium that would be delivered to the Company at a fixed price and at a fixed future date in exchange for cash (the Unconditional Sale and Purchase Agreement or “USPA”). The USPA would also contain terms providing the counterparty with disincentives (“penalty fees”) for nonperformance of the return of indium to the Company as a means to assure its future supply of indium. While the Company believes that this risk would be mitigated by the penalty fee features of the USPA, it is nonetheless a risk associated with a transaction of this type. The Company accounts for any USPA transaction on a combined basis (sale and purchase) and evaluates whether, and in what period, other income may be recognized based on the specific terms of any arrangements. The Company discloses unconditional purchase obligations under these arrangements and, if applicable, accrues any net losses on such unconditional purchase obligations. Further, the cost of inventory-indium under an open USPA is reported as “indium repurchase obligation” in the balance sheet at the end of a reporting period.
	Indium “lease” transactions are generally for a period of less than one year. Under the lease, a specified amount of indium is leased to the customer for a period of time. At the end of the lease, the lessee is obligated to return the equivalent quantity and purity of the indium that was delivered to the lessee at the beginning of the lease. The monthly rental income is recorded as other income over the term of the lease. In certain circumstances, the Company may sell indium to the lessee at a negotiated price.
Income Tax, Policy [Policy Text Block]	'
	Income Taxes
	Income taxes are accounted under the asset-and-liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and the respective tax bases and operating loss and tax credit carryforwards. 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 is recognized in income in the period that includes the enactment date. The portion of any deferred tax asset for which it is more likely than not that a tax benefit will not be realized must then be offset by recording a valuation allowance. A valuation allowance has been established against all of the deferred tax assets, as it is more likely than not that these assets will not be realized given the Company’s history of operating losses and the fact that the Company cannot predict whether or at what prices it will be able to liquidate its stockpile in 2014. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company recognizes potential interest and penalties related to income tax positions as a component of the provision for income taxes on the statements of operations.
	For the three and six months ended June 30, 2014, the Company recorded $28 thousand and $60 thousand, respectively, for Federal income taxes. The Company’s effective tax rate for the three and six months ended June 30, 2014 was significantly lower than the statutory rate due to the utilization of its net operating loss carryforwards, which offset the Company’s taxable income, except for the Federal alternative minimum tax that is not offset by such operating losses. For the three and six months ended June 30, 2013, the Company did not record any income tax expense due to the fact that the Company expected to have a net loss for 2013 resulting in a tax benefit that was fully offset by a valuation reserve.
Share-Based Compensation, Option and Incentive Plans Policy [Policy Text Block]	'
	Share-Based Payment Arrangements
	The Company measures the cost of employee services received in exchange for an award of equity instruments (share-based payments or “SBP”) based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the SBP award—the requisite service period (vesting period). For SBP awards subject to conditions, compensation is not recognized until the performance condition is probable of occurrence. The grant-date fair value of share options is estimated using the Black-Scholes-Merton option-pricing model. Compensation expense for SBP awards granted to nonemployees is remeasured each period as the underlying options vest. The Company recorded non-cash charges for SBP of approximately $1 thousand and $3 thousand for the three and six months ended June 30, 2014, respectively, and $2 thousand and $3 thousand for the three and six months ended June 30, 2013, respectively.
	The fair value of each option granted during the six months ended June 30, 2014 and 2013 was estimated on the date of grant using the Black-Scholes-Merton option-pricing model with the weighted average assumptions in the following table:
		Six Months Ended June 30,
		2014		2013
	Expected dividend yield	0	%	0	%
	Expected option term (years)	5		5
	Expected volatility	10.06	%	11.65	%
	Risk-free interest rate	1.73-1.77	%	0.75-0.77	%
	The expected term of options granted represents the period of time that options granted are expected to be outstanding. Because of the Company’s limited trading history and trading volume, the expected volatility was calculated based on the five-year volatility of indium. The assumed discount rate was the default risk-free five-year interest rate provided by Bloomberg L.P.
Common Stock Purchase Contracts [Policy Text Block]	'
	Common Stock Purchase Contracts
	The Company classifies as equity any common stock purchase contracts that: (i) require physical settlement or net-share settlement or give the Company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement) and (ii) are indexed to the Company’s common stock. The Company classifies as assets or liabilities any common stock purchase contracts that: (i) require net-cash settlement (including a requirement to net-cash settle the contract if an event occurs and that event is outside the control of the Company), (ii) give the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement), or (iii) are not indexed to the Company’s common stock. The Company assesses classification of its equity-classified contracts at each reporting date to determine whether a change in classification between assets and liabilities is required. The Company’s outstanding common stock purchase contracts were accounted for as equity through June 30, 2014.
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block]	'
	Concentration of Credit and Market Risk
	The Company maintains cash deposits with banks that at times exceed applicable Federal Deposit Insurance Corporation limits. The Company reduces its exposure to credit risk by maintaining such deposits with high-quality financial institutions. The Company has not experienced any losses in such accounts. At June 30, 2014, the Company had cash on deposit of approximately $10.2 million in excess of federally insured limits of $250 thousand.
	The Company grants credit, without collateral, to specialty metals companies creating a credit risk with third parties that it sells, lends or leases indium. The Company seeks to reduce its credit risk by reviewing the third party’s credit portfolio, and, when deemed necessary obtains third party guarantees. To reduce its market risks for changes in the price of indium, the USPA and lease agreements contain terms providing the third party with disincentives (“penalty fees”) for nonperformance of the return of indium to the Company.
Fair Value Of Financial Instruments, Policy [Policy Text Block]	'
	Fair Value
	The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. For cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, other current liabilities and prepaid expenses and other current assets, the carrying amount approximated the fair value because of the immediate or short-term nature of those instruments. For inventory, the carrying amount is based on lower of cost or market calculated on a specific-identification method with market being determined by the spot price of indium published by Metal Bulletin as posted on Bloomberg L.P. (a Level 2 fair value measurement).
Reclassification, Policy [Policy Text Block]	'
	Reclassifications
	Certain reclassifications were made to the 2013 statement of operations to conform to the presentation in 2014.
New Accounting Pronouncements, Policy [Policy Text Block]	'
	Recently Issued Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (“ASU”) 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” This ASU will eliminate the diversity in practice in presentation of unrecognized tax benefits when a net operating loss carry-forward, a similar tax loss, or a tax credit carryforward exists at the reporting date. This new guidance requires the netting of unrecognized tax benefits against a deferred tax asset for a loss or other carry-forward that would apply in settlement of the uncertain tax positions. Under the new guidance, unrecognized tax benefits will be netted against all available same-jurisdiction loss or other tax carryforward that would be utilized, rather than only against carryforwards that are created by the unrecognized tax benefits. This guidance is effective prospectively, but allows optional retrospective adoption (for all periods presented), for reporting periods beginning after December 15, 2013. As this guidance relates to presentation only, the adoption of this guidance did not have any impact on the Company’s financial position or results of operations.
	The FASB recently issued ASU 2013-07, “ Presentation of Financial Statements (Topic 205) Liquidation Basis of Accounting ” that requires an entity to prepare its financial statements using the liquidation basis of accounting when liquidation is imminent, as defined in ASU 2013-07. ASU 2013-07’s objective is to eliminate diverse practices by providing guidance about when and how to apply the model. The guidance applies to all entities except for investment companies regulated under the Investment Company Act of 1940. Since there is no imminent plan to liquidate the Company, this ASU is not applicable for the Company’s current period financial statements.
	On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	'
	The fair value of each option granted during the six months ended June 30, 2014 and 2013 was estimated on the date of grant using the Black-Scholes-Merton option-pricing model with the weighted average assumptions in the following table:
		Six Months Ended June 30,
		2014		2013
	Expected dividend yield	0	%	0	%
	Expected option term (years)	5		5
	Expected volatility	10.06	%	11.65	%
	Risk-free interest rate	1.73-1.77	%	0.75-0.77	%

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2014
Stockholders' Equity Note [Abstract]	'
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	'
	Summary stock option information is as follows:
								Weighted
		Aggregate		Aggregate		Exercise Price		Average
		Number		Exercise Price		Range		Exercise Price
	Outstanding, December 31, 2013		679,999	$	3,207,443	$	2.45-7.50	$	4.72
	Granted		10,000		19,800	$	1.78-2.18	$	1.98
	Exercise		-		-		-		-
	Cancelled or Forfeited		-		-		-		-
	Outstanding, June 30, 2014		689,999	$	3,227,243	$	1.78-7.50	$	4.66

Net_Income_Loss_Per_Share_Tabl

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
	Diluted net income (loss) per share for all the periods presented does not include securities if their effect was anti-dilutive.
		For the Three Months Ended June 30,				For the Six Months Ended June 30,
		2014		2013		2014		2013
		(in thousands, except per share amounts)
	Net income (loss)	$	1,362	$	-300	$	2,923	$	-597
	Basic Net Income (Loss) Per Share
	Weighted average basic common shares outstanding		8,562		8,803		8,562		8,804
	Basic net income (loss) per share	$	0.16	$	-0.03	$	0.34	$	-0.07
	Diluted Net Income (Loss) Per Share
	Weighted average basic common shares outstanding		8,562		8,803		8,562		8,804
	Dilutive effect of stock options outstanding		1		-		1		-
	Weighted average dilutive common shares		8,563		8,803		8,563		8,804
	Diluted income (loss) per share	$	0.16	$	-0.03	$	0.34	$	-0.07
	Stock option and warrant shares excluded from the
	weighted average dilutive common shares because
	the effect would be antidilutive		7,919		7,904		7,919		7,904

Organization_and_Nature_of_Bus1

Organization and Nature of Business and Basis of Presentation (Details Textual) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Organization And Nature Of Business [Line Items]	'	'
Related Party Fee Percentage On Net Market Value	'	2.00%
Net Market Value	$22,000,000	$22,200,000
Excess Of Spot Price Over Historical Value	3,000,000	6,100,000
Related Party Fee Fixed Amount	$652,000	'

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Summary Of Significant Accounting Policies [Line Items]	'	'
Expected dividend yield	0.00%	0.00%
Expected option term (years)	'5 years	'5 years
Expected volatility	10.06%	11.65%
Maximum [Member]	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'
Risk-free interest rate	1.77%	0.77%
Minimum [Member]	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'
Risk-free interest rate	1.73%	0.75%

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Details Textual) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2012
	kg		kg		kg
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'
Write-downs of inventory - indium	'	'	'	'	$5,900,000
Spot Price of Indium Inventory (in price per kilogram)	705	'	705	'	485
Share Based Payment Expense	1,000	2,000	3,000	3,000	'
Measurement Of Recognized Income Tax Position Description	'	'	'Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized.	'	'
Cash, Uninsured Amount	10,200,000	'	10,200,000	'	'
Cash, FDIC Insured Amount	250,000	'	250,000	'	'
Federal Income Tax Expense (Benefit), Continuing Operations, Total	$28,000	'	$60,000	'	'

USPA_and_Leasing_of_Indium_Det

USPA and Leasing of Indium (Details Textual) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Indium UPA and Lease Transactions [Line Items]	'	'	'	'	'
Inventory Repurchase Right	$0	'	$0	'	$943,573
Other Income	27,272	39,353	60,017	49,309	'
Leased Indium [Member]	'	'	'	'	'
Indium UPA and Lease Transactions [Line Items]	'	'	'	'	'
Inventory Repurchase Right	'	'	'	'	900,000
Proceeds From Sale Of Indium Under Unconditional Sale And Purchase Agreement	'	'	'	'	1,000,000
Other Income	27,000	39,000	60,000	49,000	'
Inventory Adjustments, Total	500,000	'	500,000	'	'
Liability for Obligation to Repurchase Inventory	'	'	'	'	$1,000,000
Percentage of Purchase Obligation under lease agreement	'	'	60.00%	'	'

Stockholders_Equity_Details

Stockholders' Equity (Details) (Employee Stock Option [Member], USD $)	6 Months Ended
	Jun. 30, 2014
Schedule of Capitalization, Equity [Line Items]	'
Outstanding - Aggregate Number - Beginning Balance	679,999
Granted - Aggregate Number	10,000
Exercise - Aggregate Number	0
Cancelled or Forfeited or Expired - Aggregate Number	0
Outstanding - Aggregate Number - Ending Balance	689,999
Outstanding - Aggregate Exercise Price - Beginning Balance	$3,207,443
Granted - Aggregate Exercise Price	19,800
Exercise - Aggregate Exercise Price	0
Cancelled or Forfeited - Aggregate Exercise Price	0
Outstanding - Aggregate Exercise Price - Ending Balance	$3,227,243
Outstanding - Weighted Average Exercise Price - Beginning Balance	$4.72
Granted - Weighted Average Exercise Price	$1.98
Exercise - Weighted Average Exercise Price	$0
Cancelled or Forfeited- Weighted Average Exercise Price	$0
Outstanding - Weighted Average Exercise Price - Ending Balance	$4.66
Maximum [Member]	'
Schedule of Capitalization, Equity [Line Items]	'
Outstanding - Weighted Average Exercise Price - Beginning Balance	$7.50
Granted - Weighted Average Exercise Price	$2.18
Exercise - Weighted Average Exercise Price	$0
Cancelled or Forfeited- Weighted Average Exercise Price	$0
Outstanding - Weighted Average Exercise Price - Ending Balance	$7.50
Minimum [Member]	'
Schedule of Capitalization, Equity [Line Items]	'
Outstanding - Weighted Average Exercise Price - Beginning Balance	$2.45
Granted - Weighted Average Exercise Price	$1.78
Exercise - Weighted Average Exercise Price	$0
Cancelled or Forfeited- Weighted Average Exercise Price	$0
Outstanding - Weighted Average Exercise Price - Ending Balance	$1.78

Stockholders_Equity_Details_Te

Stockholders' Equity (Details Textual) (USD $)	6 Months Ended				6 Months Ended
In Millions, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	31-May-13	31-May-13	Jun. 30, 2014	Jun. 30, 2014
			Minimum [Member]	Maximum [Member]	Warrant [Member]	Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]	'	'	'	'	'	'
Treasury Stock, Value, Acquired, Cost Method	$0.70	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$0.26	$0.32	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	'1 year 8 months 12 days	'	'	'	'	'
Class of Warrant or Right, Outstanding	'	'	'	'	6,993,701	'
Unit Purchase Option Units Issued For Underwriter	'	'	'	'	240,000	'
Class of Warrants Underlying Unit Purchase Options	'	'	'	'	240,000	'
Class of Warrants Underlying Unit Purchase Options Expiration Date	'	'	'	'	31-May-15	'
Description Of Warrants Terms For Redemption	'The warrants contain a call feature that permits the Company to redeem the warrants at a price of $0.01 per warrant at any time after the warrants become exercisable, upon providing at least 30 days advance written notice of redemption, and if, and only if, the last sales price of the Companys common stock equals or exceeds $8.00 per share for any 20 trading days within a 30-trading-day period ending three business days before the Company sends the notice of redemption. In addition, the Company may not redeem the warrants unless the warrants comprising the units and the shares of common stock underlying those warrants are covered by an effective registration statement from the beginning of the measurement period through the date scheduled for the redemption. If the foregoing conditions are satisfied and the Company calls the warrants for redemption,	'	'	'	'	'
Stock Repurchase Program, Authorized Amount	'	'	$1	$3	'	'
Treasury Stock, Shares, Acquired	'	'	'	'	'	270,304
Class Of Warrant Or Right Acquired	'	'	'	'	4,400	'
Warrant Redemption Price Per Share	$8	'	'	'	'	'
Class of Warrant or Right, Exercise Price of Warrants or Rights	$5.75	'	'	'	$5.50	'
Share Based Compensation Arrangement By Share Based Payment Award Options Agreed To Grant	310,001	'	'	'	'	'
Common Stock, Capital Shares Reserved for Future Issuance	1,000,000	'	'	'	'	'
Investment Warrants Expiration Date	'	'	'	'	4-May-16	'

Net_Income_Loss_Per_Share_Deta

Net Income (Loss) Per Share (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Net IncomeLoss Per Share [Line Items]	'	'	'	'
Net income (loss)	$1,361,792	($300,072)	$2,923,459	($597,201)
Basic Net Income (Loss) Per Share	'	'	'	'
Weighted average basic common shares outstanding	8,561,997	8,802,968	8,561,997	8,804,298
Basic net income (loss) per share	$0.16	($0.03)	$0.34	($0.07)
Diluted Net Income (Loss) per Share	'	'	'	'
Weighted average basic common shares outstanding	8,562,000	8,803,000	8,562,000	8,804,000
Dilutive effect of stock options outstanding	1,000	0	1,000	0
Weighted average dilutive common shares	8,563,000	8,803,000	8,563,000	8,804,000
Diluted income (loss) per share	$0.16	($0.03)	$0.34	($0.07)
Stock option and warrant shares excluded from the weighted average dilutive common shares because the effect would be antidilutive	7,919,000	7,904,000	7,919,000	7,904,000

RelatedParty_Transactions_Deta

Related-Party Transactions (Details Textual) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Related Party Transaction [Line Items]	'	'	'	'	'
Manager fee (in dollars)	$200,000	$200,000	$300,000	$300,000	'
Amount Paid To Relative Of Officer For Secretarial Service	5,000	5,000	10,000	10,000	'
Related Party Fee Fixed Amount	'	'	$652,000	'	'
Related Party Fee Percentage On Net Market Value	'	'	'	'	2.00%
SMG Advisors [Member]	'	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'	'
Common Stock Owned by Related Parties Percentage	50.00%	'	50.00%	'	'

Commitments_and_Contingencies_

Commitments and Contingencies (Details Textual) (USD $)	3 Months Ended			6 Months Ended				12 Months Ended
	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
						Criteria One [Member]	Criteria Two [Member]	Scenario, Forecast [Member]
								Supply Agreement [Member]
Loss Contingencies [Line Items]	'	'	'	'	'	'	'	'
Annual Base Compensation Payable To Chief Financial Officer, Quarterly Compensation, Amount	'	'	'	$60,000	'	'	'	'
Quarterly Base Compensation Payable To Chief Financial Officer Options To Be Granted Maximum Number (in shares)	'	'	'	5,000	'	'	'	'
Compensation Payable To Non Executive Board Member Annual Compensation Amount	'	'	'	10,000	'	'	'	'
Compensation Payable To Non Executive Board Member For Each Meeting Attended In Person, Amount	'	'	'	1,000	'	'	'	'
Deferred Compensation Arrangement With Individual Awards Granted Restricted Common Stock Issuable Number (in shares)	'	'	'	'	'	22,000	22,000	'
Contingent Cash Bonus Awards, Criteria One, Minimum Amount Of Additional Equity Offering Proceeds	'	'	'	15,000,000	'	'	'	'
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount	'	'	'	'	'	100,000	100,000	'
Amount Paid To Relative Of Officer For Secretarial Service	5,000	'	5,000	10,000	10,000	'	'	'
Related Party Fee Fixed Amount	'	'	'	652,000	'	'	'	'
Percentage Of Indium Sell	'	'	'	'	'	'	'	78.00%
Annual Bonus Compensation Approvals Paid	'	25,000	'	'	'	'	'	'
Annual Bonus Compensation Eligible Chief Finance Officer	'	'	'	$25,000	'	'	'	'

Segment_Information_Details_Te

Segment Information (Details Textual)	6 Months Ended
	Jun. 30, 2014
Major Customers Accounted Percentage of Sales	10.00%