Leatt (LEAT) 10-Q 9 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 02, 2017
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Trading Symbol	leat
Entity Registrant Name	Leatt Corp
Entity Central Index Key	1,456,189
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		5,366,382
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current Assets
Cash and cash equivalents	$ 1,234,872	$ 1,103,003
Short-term investments	58,213	58,196
Accounts receivable	2,953,495	2,217,840
Inventory	6,234,692	4,578,125
Payments in advance	415,181	569,498
Income tax refunds receivable	159,730	83,567
Prepaid expenses and other current assets	330,137	847,032
Total current assets	11,386,320	9,457,261
Property and equipment, net	2,031,355	1,190,688
Deferred tax asset	108,300	108,300
Other Assets
Deposits	25,172	24,892
Intangible assets	69,807	69,133
Total other assets	94,979	94,025
Total Assets	13,620,954	10,850,274
Current Liabilities
Accounts payable and accrued expenses	5,606,448	3,021,618
Income tax payable	140,980	0
Short term loan, net of finance charges	58,759	542,532
Total current liabilities	5,806,187	3,564,150
Deferred tax liabilities	65,400	65,400
Commitments and contingencies
Stockholders' Equity
Preferred stock, $.001 par value, 1,120,000 shares authorized, 120,000 shares issued and outstanding	3,000	3,000
Common stock, $.001 par value, 28,000,000 shares authorized, 5,366,382 and 5,362,992 shares issued and outstanding	130,053	130,053
Additional paid - in capital	7,646,807	7,469,694
Accumulated other comprehensive loss	(602,739)	(610,083)
Retained earnings	572,246	228,060
Total stockholders' equity	7,749,367	7,220,724
Total Liabilities and Stockholders' Equity	$ 13,620,954	$ 10,850,274

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Preferred Stock, Par Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	1,120,000	1,120,000
Preferred Stock, Shares Issued	120,000	120,000
Preferred Stock, Shares Outstanding	120,000	120,000
Common Stock, Par Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	28,000,000	28,000,000
Common Stock, Shares, Issued	5,366,382	5,362,992
Common Stock, Shares, Outstanding	5,366,382	5,362,992

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues	$ 5,455,088	$ 4,631,557	$ 14,783,154	$ 13,152,964
Cost of Revenues	2,914,008	2,183,072	7,566,816	6,206,741
Gross Profit	2,541,080	2,448,485	7,216,338	6,946,223
Product Royalty Income	39,396	16,224	90,313	69,755
Operating Expenses
Salaries and wages	562,803	548,829	1,877,560	1,754,043
Commissions and consulting expenses	109,217	144,480	388,538	444,472
Professional fees	88,901	110,700	519,673	363,018
Advertising and marketing	449,176	502,522	1,258,511	1,216,916
Office rent and expenses	68,423	66,593	201,101	193,745
Research and development costs	321,443	402,924	966,841	1,083,983
Bad debt expense (recovery)	7,956	16,216	8,606	(6,341)
General and administrative expenses	419,052	505,194	1,254,542	1,466,992
Depreciation	131,374	103,586	322,829	314,584
Total operating expenses	2,158,345	2,401,044	6,798,201	6,831,412
Income from Operations	422,131	63,665	508,450	184,566
Other Income (Expenses)
Interest and other income (expenses), net	(95)	(3,270)	(5,650)	65,539
Total other income (expenses)	(95)	(3,270)	(5,650)	65,539
Income Before Income Taxes	422,036	60,395	502,800	250,105
Income Taxes	128,747	21,139	158,614	109,325
Net Income Available to Common Shareholders	$ 293,289	$ 39,256	$ 344,186	$ 140,780
Net Income per Common Share
Basic	$ 0.05	$ 0.01	$ 0.06	$ 0.03
Diluted	$ 0.05	$ 0.01	$ 0.06	$ 0.03
Weighted Average Number of Common Shares Outstanding
Basic	5,366,382	5,345,312	5,364,718	5,283,059
Diluted	5,547,683	5,483,774	5,546,019	5,421,520
Comprehensive Income
Net Income	$ 293,289	$ 39,256	$ 344,186	$ 140,780
Other comprehensive income, net of $0 and $0 deferred income taxes in 2017 and 2016
Foreign currency translation	(49,044)	78,818	7,344	110,737
Total Comprehensive Income	$ 244,245	$ 118,074	$ 351,530	$ 251,517

CONSOLIDATED STATEMENTS OF OPE5

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Deferred Income Taxes	$ 0	$ 0	$ 0	$ 0

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - 9 months ended Sep. 30, 2017 - USD ($)	Preferred Stock A [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Total
Beginning Balance at Dec. 31, 2016	$ 3,000	$ 130,053	$ 7,469,694	$ (610,083)	$ 228,060	$ 7,220,724
Beginning Balance (Shares) at Dec. 31, 2016	120,000	5,362,992
Compensation cost recognized in connection with stock options			177,113			177,113
Options exercised on a cashless basis (Shares)		3,390
Net income					344,186	344,186
Foreign currency translation adjustment				7,344		7,344
Ending Balance at Sep. 30, 2017	$ 3,000	$ 130,053	$ 7,646,807	$ (602,739)	$ 572,246	$ 7,749,367
Ending Balance (Shares) at Sep. 30, 2017	120,000	5,366,382

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities
Net income	$ 344,186	$ 140,780
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	322,829	314,584
Stock-based compensation	177,113	155,742
Other Income	0	(73,533)
Bad debts	5,737	(13,369)
Inventory reserve	116,769	26,385
Gain on sale of property and equipment	(3,061)	0
(Increase) decrease in:
Accounts receivable	(741,392)	(343,125)
Inventory	(1,773,336)	230,302
Payments in advance	154,317	(323,623)
Prepaid expenses and other current assets	516,895	578,386
Income tax refunds receivable	(76,163)	0
Other receivables	0	90,000
Deposits	(280)	(8,361)
(Increase) Decrease in:
Accounts payable and accrued expenses	2,584,830	(89,935)
Income taxes payable	140,980	(162,413)
Net cash provided by operating activities	1,769,424	521,820
Cash flows from investing activities
Capital expenditures	(1,158,507)	(93,763)
Proceeds from sale of property and equipment	3,125	0
Increase in short-term investments, net	(17)	(18)
Net cash used in investing activities	(1,155,399)	(93,781)
Cash flows from financing activities
Proceeds from exercise of stock options	0	39,000
Repayments of short-term loan, net	(483,773)	(620,003)
Net cash used in financing activities	(483,773)	(581,003)
Effect of exchange rates on cash and cash equivalents	1,617	51,632
Net increase (decrease) in cash and cash equivalents	131,869	(101,332)
Cash and cash equivalents - beginning	1,103,003	1,054,750
Cash and cash equivalents - ending	1,234,872	953,418
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	10,597	10,467
Cash paid for income taxes	87,207	271,737
Other noncash investing and financing activities
Common stock issued for services	177,113	155,742
Cancellation of common shares as settlement of a legal matter	$ 0	$ (73,533)

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Basis of Presentation [Text Block]	Note 1 - Basis of presentation The consolidated balance sheet as of December 31, 2016 was audited and appears in the Form 10-K filed by the Company with the Securities and Exchange Commission on March 29, 2017. The consolidated balance sheet as of September 30, 2017 and the consolidated statements of operations and comprehensive income for the three and nine months ended September 30, 2017 and 2016, changes in stockholders’ equity for the nine months ended September 30, 2017, cash flows for the nine months ended September 30, 2017 and 2016, and the related information contained in these notes have been prepared by management without audit. In the opinion of management, all adjustments (which include only normal recurring items) necessary to present fairly the financial position, results of operations and cash flows in conformity with generally accepted accounting principles as of September 30, 2017 and for all periods presented have been made. Interim operating results are not necessarily indicative of operating results for a full year. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. While management of the Company believes that the disclosures presented are adequate to make the information not misleading, it is suggested that these condensed consolidated financial statements be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2016 as filed with the Securities and Exchange Commission in the Company’s Form 10-K.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2017
Inventory [Text Block]	Note 2 - Inventory Inventory is stated at the lower of cost or market. Cost is determined using the first-in first-out (FIFO) method. Inventory consists primarily of finished goods. Shipping and handling costs are included in the cost of inventory. In assessing the inventory value, the Company must make estimates and judgments regarding reserves required for product obsolescence, aging of inventory and other issues potentially affecting the saleable condition of products. In performing such evaluations, the Company utilizes historical experience as well as current market information. The reserve for obsolescence as of the nine months ended September 30, 2017 and 2016 was $282,876 and $186,899 respectively.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2017
Intangible Assets [Text Block]	Note 3 - Intangible Assets The Company’s intangible assets consist of acquired patents with an indefinite useful life and are thus not amortized. Intangible assets are carried at cost less impairment. Amortization expense for the nine months ended September 30, 2017 was zero. There was no impairment of intangible assets at September 30, 2017.

Short-term Loan

Short-term Loan	9 Months Ended
	Sep. 30, 2017
Short-term Loan [Text Block]	Note 4 - Short-term Loan The Company carries two product liability insurance policies; one with a U.S. insurance carrier and a second with a South African insurance carrier. The Company finances payment of its short-term insurance premiums over the period of coverage, which is generally twelve months. The U.S. short-term loan is payable in monthly installments of $58,921 over an eleven-month period at an APR of 3.397% and the South African short-term loan is payable in monthly installments of $1,740 over a ten-month period at a flat interest rate of 4.10% . The Company repaid the U.S. short-term loan in full on September 1, 2017. The Company also carries directors’ and officers’ liability insurance and several other insurance policies. The Company finances payment of its short-term insurance premiums over the period of coverage, which is generally twelve months. The short-term loan is payable in eleven payments of $8,315 at a 3.900% annual interest rate. In addition, the Company carries Network Security/Privacy insurance. The Company finances payment of its short-term insurance premiums over the period of coverage over six months. The short-term loan is payable in five payments of $1,453 at a 3.397% annual interest rate. The Company repaid the U.S. short-term loan in full on September 1, 2017

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Taxes [Text Block]	Note 5 - Income Taxes The Company uses the asset and liability approach to account for income taxes. Deferred tax assets and liabilities are determined based on the differences between the financial statement carrying amounts and the income tax basis of assets and liabilities. A valuation allowance is applied against any net deferred tax asset if, based on available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The provision for income taxes included taxes currently payable, if any, plus the net change during the period in deferred tax assets and liabilities recorded by the Company. The Company applies the provisions of FASB ASC Topic 740-10, Accounting for Uncertainty in Income Taxes (“Standard”), which provides that the tax effects from an uncertain tax position can be recognized in the consolidated financial statements only if the position is more likely than not of being sustained upon an examination by tax authorities. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Additionally, the standard provides guidance on derecognition, classification, interest and penalties; accounting in interim periods, disclosure and transition, and any amounts when incurred would be recorded under these provisions. The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. As of September 30, 2017, the Company has no unrecognized tax benefits.

Net Income Per Share of Common

Net Income Per Share of Common Stock	9 Months Ended
	Sep. 30, 2017
Net Income Per Share of Common Stock [Text Block]	Note 6 - Net Income Per Share of Common Stock Basic net income per common share is computed using the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed using the weighted–average number of common stock shares and dilutive potential common shares outstanding during the period. As of September 30, 2017, the Company had 636,000 potential common shares, consisting of 120,000 preferred shares and options to purchase 193,000 shares, outstanding that were dilutive, and options to purchase 323,000 shares that were anti-dilutive and therefore not included in diluted net income per share.

Common Stock

Common Stock	9 Months Ended
	Sep. 30, 2017
Common Stock [Text Block]	Note 7 – Common Stock During the nine months ended September 30, 2017, 169,000 stock options were granted at an exercise price of $1.60 per share, exercisable over a 10 -year period. The fair value of the stock options granted was estimated at the date of grant using the Black Sholes option-pricing model. Based on the list of assumptions presented below, the fair value of the options granted during the nine months ended September 30, 2017, was $0.60. Expected term in years 10 years Risk-free interest rate 2.78% Expected volatility 21.73% Expected dividend yield 0.00% The expected volatility was determined with reference to the historical volatility of the Company's stock. The Company uses historical data to estimate option exercise and employee termination within the valuation model. The expected term of options granted represents the period of time that the options granted are expected to be outstanding. The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury rate in effect at the time of grant. Stock-based compensation expense related to vested stock options during the nine months ended September 30, 2017 was $177,113. As of September 30, 2017, there was $357,293 of unrecognized compensation costs related to unvested stock options, which is expected to be recognized over a 3 -year vesting period. On May 22, 2017, the Company issued 3,390 shares of common stock to employees who exercised employee stock options in a cashless exercise.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
Recent Accounting Pronouncements [Text Block]	Note 8 – Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In July 2015, the FASB issued Accounting Standards Update (“ASU”) 2015-11, “Inventory (Topic 330): Simplifying the Measurement of Inventory,” which applies to inventory that is measured using first-in, first-out (FIFO) or average cost. This ASU simplifies the subsequent measurement of inventories by replacing the lower of cost or market test with a lower of cost or net realizable value test. The ASU is effective for annual periods beginning after December 15, 2016. Early adoption is permitted. The Company adopted the new standard on January 1, 2017. The adoption of this ASU did not have a material impact on the consolidated financial statements. In March 2016, the FASB issued ASU 2016-09 “Improvements to Employee Share-Based Payment Accounting ("ASU 2016-09").” ASU 2016-09 amends the guidance on several aspects of accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, accounting for forfeitures, and classification on the statement of cash flows. The ASU is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company adopted the new standard on January 1, 2017. The Company elected to apply the amendments related to the classification of excess tax benefits on the statement of cash flows on a prospective basis, and prior periods were not adjusted. The adoption of this ASU did not have a material impact on the consolidated financial statements. Accounting Pronouncements Not Yet Adopted In May 2017, the FASB issued ASU 2017-09, “Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting”, which clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award changes as a result of the change in terms or conditions. If an award is not probable of vesting at the time a change is made, the new guidance clarifies that no new measurement date will be required if there is no change to the fair value, vesting conditions, and classification. This ASU will be applied prospectively and is effective for fiscal years beginning after December 15, 2017, and interim periods within those years, with early adoption permitted. The Company does not expect this standard to have a material impact on its financial statements. In January 2017, the FASB issued ASU 2017-01, “Clarifying the Definition of a Business,” which further clarifies the definition of a business in an effort to assist entities in evaluating whether a set of transferred assets constitutes a business. Under this new guidance, if substantially all of the fair value of gross assets acquired is concentrated in a single asset or similar asset group, the set of transferred assets would not meet the definition of a business and no further evaluation is necessary. If this threshold is not met, the entity would then evaluate whether the set of transferred assets and activities meets the requirement that a business include, at a minimum, an input and a process that together have the ability to create an output. This guidance is effective for annual and quarterly periods beginning after December 15, 2017, with early adoption permitted. The Company expects to adopt the ASU beginning January 1, 2018. In January 2017, the FASB issued ASU 2017-04, “Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment, which simplifies the subsequent measurement of goodwill by eliminating the requirement to calculate the implied fair value of goodwill. Rather, the goodwill impairment is calculated by comparing the fair value of a reporting unit to its carrying value, and an impairment loss is recognized for the amount by which the carrying amount exceeds the fair value, limited to the total goodwill allocated to the reporting unit. All reporting units apply the same impairment test under the new standard. The Company is required to adopt this ASU for its annual and any interim goodwill impairment tests in fiscal years beginning after December 15, 2019 on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect this new guidance will have a material impact on the consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” (“ASU 2014-09”). ASU 2014-09, as amended, outlines a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This new revenue recognition model provides a five-step analysis in determining when and how revenue is recognized. The new model will require an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects what it expects in exchange for the goods or services. On August 12, 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date". The amendments in this update defers the effective date of Update 2014-09 for all entities by one year. The ASU, as amended, is effective for the first interim period within an annual period beginning after December 15, 2017, and early adoption is not permitted. The new guidance allows for two methods of adoption: (a) “full retrospective” adoption, meaning that the standard is applied to all periods presented, or (b) “modified retrospective” adoption, meaning that the cumulative effect of applying the new guidance is recognized as an adjustment to the opening retained earnings balance for the year of implementation. The Company plans to adopt the new revenue standard effective January 1, 2018, on a modified retrospective method with the cumulative effect of the change reflected in retained earnings as of January 1, 2018, and not restate prior periods. The Company continues to monitor FASB activity to assess certain interpretative issues and the associated implementation of the new standard. The Company has performed an initial review of its revenue arrangements, which include product sales and royalty payments, and based upon that initial review, and the interpretive guidance that has been issued and examined, the adoption of this guidance is not expected to have a material impact on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842).” This ASU is a comprehensive new lease standard that amends various aspects of existing accounting guidance for leases. The core principle of this ASU will require lessees to present the assets and liabilities that arise from leases on their balance sheets. The ASU is effective for public companies for annual and interim reporting periods beginning after December 15, 2018. Early adoption is permitted. The Company is evaluating the new standard to determine the impact on the Company’s consolidated financial statements. In October 2016, the FASB issued ASU No. 2016-16, “Income Taxes - Intra-Entity Transfers of Assets Other Than Inventory” ("ASU 2016-16"). The ASU clarifies the accounting for the current and deferred income taxes for an intra-entity transfer of an asset other than inventory. The ASU is effective for the Company in the first quarter of 2018, with early adoption permitted, and is to be applied using a modified retrospective approach. The Company is evaluating the new standard to determine the impact on the Company’s consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force).” The ASU requires the statement of cash flows to explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents are to be included with cash and cash equivalents when reconciling the beginning of period and end of period amounts shown on the statement of cash flows. The ASU is effective for the Company for annual reporting periods beginning after December 15, 2017 and is required to be adopted using a retrospective approach, if applicable, with early adoption permitted. The adoption of this ASU will not have a material impact on the Company’s consolidated financial statements.

Litigation

Litigation	9 Months Ended
	Sep. 30, 2017
Litigation [Text Block]	Note 9 - Litigation In the ordinary course of business, the Company is involved in various legal proceedings involving product liability and personal injury and intellectual property litigation. The Company is insured against loss for certain of these matters. The Company will record contingent liabilities resulting from asserted and unasserted claims against it when it is probable that the liability has been incurred and the amount of the loss is reasonably estimable. The Company will disclose contingent liabilities when there is a reasonable possibility that the ultimate loss will exceed the recorded liability. While the outcome of currently pending litigation is not yet determinable, the ultimate exposure with respect to these matters cannot be ascertained. However, based on the information currently available to the Company, the Company does not expect that any liabilities or costs that might be incurred to resolve these matters will have a material adverse effect on the financial condition, results of operations, liquidity or cash flows of the Company.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Text Block]	Note 10 – Subsequent Events The Company has evaluated all subsequent events through the date the financial statements were released. The Company entered into a Premium Finance Agreement with AFCO Acceptance Corporation “AFCO” dated October 16, 2017, to finance its U.S. short-term insurance over the period of coverage. The Company is obligated to pay AFCO an aggregate sum of $593,400 in eleven payments of $55,071, at an annual interest rate of $4.15% commencing on November 1, 2017 and ending on September 1, 2018. Any late payment during the term of the agreement will be assessed a late penalty of 5% of the payment amount due, and in the event of default AFCO has the right to accelerate the payment due under the agreement.

Common Stock (Tables)

Common Stock (Tables)	9 Months Ended
	Sep. 30, 2017
Schedule of fair value of the options granted, valuation assumptions [Table Text Block]	Expected term in years 10 years Risk-free interest rate 2.78% Expected volatility 21.73% Expected dividend yield 0.00%

Inventory (Narrative) (Details)

Inventory (Narrative) (Details)	9 Months Ended
	Sep. 30, 2017USD ($)
Inventory 1	$ 282,876
Inventory 2	$ 186,899

Short-term Loan (Narrative) (De

Short-term Loan (Narrative) (Details)	9 Months Ended
	Sep. 30, 2017USD ($)
Short-term Loan 1	$ 58,921
Short-term Loan 2	3.397%
Short-term Loan 3	$ 1,740
Short-term Loan 4	4.10%
Short-term Loan 5	$ 8,315
Short-term Loan 6	3.90%
Short-term Loan 7	$ 1,453
Short-term Loan 8	3.397%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	9 Months Ended
	Sep. 30, 2017
Income Taxes 1	50.00%

Net Income Per Share of Commo22

Net Income Per Share of Common Stock (Narrative) (Details)	9 Months Ended
	Sep. 30, 2017shares
Net Income Per Share Of Common Stock 1	636,000
Net Income Per Share Of Common Stock 2	120,000
Net Income Per Share Of Common Stock 3	193,000
Net Income Per Share Of Common Stock 4	323,000

Common Stock (Narrative) (Detai

Common Stock (Narrative) (Details)	9 Months Ended
	Sep. 30, 2017USD ($)$ / sharesshares
Common Stock 1 | shares	169,000
Common Stock 2 | $ / shares	$ 1.60
Common Stock 3	10
Common Stock 4	$ 0.60
Common Stock 5	177,113
Common Stock 6	$ 357,293
Common Stock 7	3
Common Stock 8 | shares	3,390

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details)	9 Months Ended
	Sep. 30, 2017USD ($)
Subsequent Events 1	$ 593,400
Subsequent Events 2	55,071
Subsequent Events 3	$ 4.15
Subsequent Events 4	5.00%

Schedule of fair value of the o

Schedule of fair value of the options granted, valuation assumptions (Details)	9 Months Ended
	Sep. 30, 2017yr
Common Stock Schedule Of Fair Value Of The Options Granted, Valuation Assumptions 1	10
Common Stock Schedule Of Fair Value Of The Options Granted, Valuation Assumptions 2	2.78%
Common Stock Schedule Of Fair Value Of The Options Granted, Valuation Assumptions 3	21.73%
Common Stock Schedule Of Fair Value Of The Options Granted, Valuation Assumptions 4	0.00%