Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2015 | 15-May-15 | |
Entity Registrant Name | IRONSTONE GROUP INC | |
Entity Central Index Key | 723269 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 2,191,689 | |
Document Type | 10-Q | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | FALSE |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
ASSETS: | ||
Cash | $8,697 | $25,817 |
Non-marketable securities | 2,697,358 | 2,674,677 |
Total assets | 3,068,467 | 3,012,781 |
LIABILITIES AND STOCKHOLDERS' EQUITY: | ||
Line of credit borrowings | 350,000 | 350,000 |
Accounts payable and accrued expenses | 34,473 | 12,089 |
Note payable, net of discount | 1,235,728 | 1,208,416 |
Note payable - related party | 182,000 | 182,000 |
Total liabilities | 1,829,904 | 1,776,730 |
Stockholders' equity | ||
Preferred stock, $0.01 par value, 5,000,000 shares authorized, no shares issued and outstanding | ||
Common stock, $0.01 par value, 25,000,000 shares authorized, of which 2,937,225 shares are issued and outstanding as of March 31, 2015 and December 31, 2014 | 29,372 | 29,372 |
Additional paid-in capital | 21,826,143 | 21,819,668 |
Accumulated deficit | -21,915,863 | -21,839,094 |
Accumulated other comprehensive Income | 1,821,485 | 1,748,679 |
1,761,137 | 1,758,625 | |
Less: Treasury Stock, 745,536 shares, at cost | -522,574 | -522,574 |
Total stockholders' equity | 1,238,563 | 1,236,051 |
Total liabilities and stockholders' equity | 3,068,467 | 3,012,781 |
Marketable Securities [Member] | ||
ASSETS: | ||
Marketable securities | 41,320 | 51,400 |
Marketable Securities Related Party [Member] | ||
ASSETS: | ||
Marketable securities | 321,092 | 260,887 |
Related Party [Member] | ||
LIABILITIES AND STOCKHOLDERS' EQUITY: | ||
Interest Payable | $27,703 | $24,225 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, issued shares (in shares) | 0 | 0 |
Preferred stock, outstanding shares (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized (in shares) | 25,000,000 | 25,000,000 |
Common stock, shares issued (in shares) | 2,937,225 | 2,937,225 |
Common stock, outstanding (in shares) | 2,937,225 | 2,937,225 |
Treasury Stock, shares (in shares) | 745,536 | 745,536 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Operating expenses: | ||
Professional fees | $23,931 | $12,322 |
State filing fee | 8,857 | 3,000 |
General and administrative expenses | 6,501 | 8,591 |
Total operating expenses | 39,289 | 23,913 |
Loss from operations | -39,289 | -23,913 |
Other expense: | ||
Interest expense | -34,002 | -32,133 |
Interest expense to related party | -3,478 | -3,478 |
Net loss | -76,768 | -59,524 |
COMPREHENSIVE LOSS, NET OF TAX: | ||
Net Loss | -76,768 | -59,524 |
Unrealized holding gain (loss) arising during the period | 72,806 | -552,252 |
Comprehensive loss | ($3,963) | ($611,776) |
Basic and diluted loss per share | ||
Net loss per share (in dollars per share) | ($0.04) | ($0.03) |
Weighted average shares outstanding (in shares) | 2,191,689 | 2,183,023 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudted) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net Loss | ($76,768) | ($59,524) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Accretion of discount on notes payable | 2,780 | 2,780 |
Stock-based compensation expense | 6,475 | 8,591 |
Pay-in-kind interest added to principal | 24,532 | |
Changes in operating assets and liabilities: | ||
Accounts payable and accrued expenses | 22,384 | 5,619 |
Interest payable - related party | 3,478 | 3,478 |
Net cash used in operating activities | -17,120 | -39,056 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from issuance of note payable | 22,665 | |
Net cash provided by financing activities | 22,665 | |
Net decrease in cash | -17,120 | -16,391 |
Cash at beginning of period | 25,817 | 242,443 |
Cash at end of period | 8,697 | 226,052 |
Supplemental disclosure of cash flow information: | ||
Cash paid during the period for interest | 6,688 | 6,688 |
Supplemental noncash investing and financing activities: | ||
Advances for future common stock share purchase | $230,000 |
Note_1_Business_and_Summary_of
Note 1 - Business and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Business Activities | |
Ironstone Group, Inc. and subsidiaries have no operations but are seeking appropriate business combination opportunities. Ironstone Group, Inc, (“Ironstone” or the “Company”) a Delaware corporation, was incorporated in 1972. | |
Principles of Consolidation | |
The accompanying unaudited condensed consolidated financial statements include the accounts of Ironstone Group, Inc. and its subsidiaries, AcadiEnergy, Inc., Belt Perry Associates, Inc., DeMoss Corporation, and TaxNet, Inc. (collectively the “Company”). All significant intercompany accounts and transactions have been eliminated in consolidation. | |
Basis of Presentation | |
The unaudited condensed consolidated financial statements included herein have been prepared by the Company in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures, normally included in financial statements prepared in accordance with U.S. GAAP, have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, these unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the financial position of the Company as of March 31, 2015 and December 31, 2014, the results of its operations for the three month periods ended March 31, 2015 and March 31, 2014 and its cash flows for the three month periods ended March 31, 2015 and March 31, 2014. The results of operations for the periods presented are not necessarily indicative of those that may be expected for the full year. The condensed consolidated financial statements presented herein have been prepared by management, without audit by independent auditors who do not express an opinion thereon, and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014. The December 31, 2014 condensed consolidated balance sheet data was derived from audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 but does not include all disclosures required for annual periods. | |
There have been no significant changes in the Company’s significant accounting policies from those were disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 2014. | |
Marketable and | |
Non-Marketable Securities | |
Marketable and non-marketable securities have been classified by management as available for sale in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 320, marketable securities are recorded at fair value and any unrealized gains and losses are excluded from earnings and reported as a separate component of stockholders’ equity until realized. The fair value of the Company’s marketable securities and investments at March 31, 2015 and December 31, 2014 are based on quoted market prices. For the purpose of computing realized gains and losses, cost is identified on a specific identification basis. For marketable securities for which there is an other-than-temporary impairment, an impairment loss is recognized as a realized loss, and related adjustments are not made for recovery in value. The Company has not realized any such impairment losses to date. | |
Securities determined to be non-marketable by the Company do not have readily determinable fair values. The Company estimates the fair value of these instruments using various pricing models and the information available to the Company that it deems most relevant. Among the factors considered by the Company in determining the fair value of financial instruments are discounted anticipated cash flows, the cost, terms and liquidity of the instrument, the financial condition, operating results and credit ratings of the issuer or underlying company, the quoted market price of publicly traded securities with similar duration and yield, the Black-Scholes Options Valuation methodology adjusted for active market, the share price of recent round of financings by an outsider, and other considerations on a case-by-case basis and other factors generally pertinent to the valuation of financial instruments. | |
Use of Estimates | |
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made in the financial statements relate to the valuation of the Company’s non-marketable investments. Actual results could differ from those estimates. | |
Income Taxes | |
The Company and its wholly owned subsidiaries file a consolidated federal income tax return. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred income taxes. Deferred income taxes are recognized for differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future. Deferred income taxes are also recognized for net operating loss carryforwards that are available to offset future taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. As of March 31, 2015 and December 31, 2014, a full valuation allowance has been recorded to offset loss carryforwards as, in management’s opinion, there is uncertainty as to whether or not the Company will be able to generate taxable income in the future. | |
The Company follows the authoritative guidance on accounting for and disclosure of uncertainty in tax positions, which requires the Company to determine whether a tax position is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. For tax positions meeting the more likely than not threshold, the tax amount recognized in the financial statements is reduced by the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant taxing authority. The Company has determined that there is no effect on the financial statements from this authoritative guidance. | |
The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state, local, and foreign jurisdictions, where applicable. As of March 31, 2015, the tax years that remain subject to examination by the major tax jurisdictions under the statute of limitations is from the year 2011 forward for Federal and 2010 forward for California (with limited exceptions). | |
During the three months ended March 31, 2015 and 2014, the Company did not recognize any interest or penalties related to income taxes in its consolidated statement of operations. | |
Stock-Based Compensation | |
Ironstone recognizes the fair value of stock options granted on a straight-line basis over the requisite service period of the option grant, which is the standard vesting term of four years. | |
The full impact of stock-based compensation in the future is dependent upon, among other things, the total number of stock options granted, the fair value of the stock options at the time of grant and the tax benefit that Ironstone may or may not receive from stock-based expenses. Additionally, stock-based compensation requires the use of an option-pricing model to determine the fair value of stock option awards. This determination of fair value is affected by Ironstone’s stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to Ironstone’s expected stock price volatility over the term of the awards. | |
Basic and Diluted Loss per Share | |
Basic loss per share (“EPS”) excludes dilution and is computed by dividing net income (loss) applicable to common shareholders by the weighted average number of common shares actually outstanding during the period. Diluted EPS reflects the dilution from potentially dilutive securities, except where inclusion of such potentially dilutive securities would have an anti-dilutive effect, using the average stock price during the period in the computation and because of the net loss for the periods presented. | |
Recent Accounting Pronouncements | |
In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-15, | |
“Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” | |
(“ASU 2014-15”). ASU 2014-15 introduces an explicit requirement for management to assess and provide certain disclosures if there is substantial doubt about an entity’s ability to continue as a going concern. ASU 2014-15 is effective for the annual period ending after December 15, 2016. The Company continues to evaluate the impact that the adoption of ASU 2014-15 will have on the Company’s consolidated financial statements. | |
In February 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update (ASU) 2015-02, Comprehensive Income (Topic 810) – Amendments to the Consolidation Analysis, which requires an entity to evaluate whether they should consolidate certain legal entities. The amendments in this Update are effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. For all other entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, and for interim periods within fiscal years beginning after December 15, 2017. The Company is reviewing the applicability of this amendment. |
Note_2_Fair_Value_Measurements
Note 2 - Fair Value Measurements | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Notes to Financial Statements | |||||||||||||||||
Fair Value Disclosures [Text Block] | 2. FAIR VALUE MEASUREMENTS | ||||||||||||||||
Fair value is defined under FASB ASC 820, “ | |||||||||||||||||
Fair Value Measurement and Disclosures | |||||||||||||||||
”. ASC 820 defines fair value, establishes a framework for measuring fair value under U.S. GAAP and enhances disclosures about fair value measurements. Fair value is defined under ASC 820 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820 describes a fair value hierarchy based on three levels of inputs of which the first two are considered observable and the last unobservable, that may be used to measure fair value as follows: | |||||||||||||||||
Level 1 | |||||||||||||||||
–Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 instruments. Since | |||||||||||||||||
valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment. | |||||||||||||||||
Level 2 | |||||||||||||||||
–Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | |||||||||||||||||
Level 3 | |||||||||||||||||
–Valuations based on inputs that are unobservable and significant to the overall fair value measurement. | |||||||||||||||||
In all cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||
The Company’s assets and liabilities that are measured at fair value on a non-recurring basis include cash, accounts payable, accrued expenses, and interest payable given their short-term nature. Furthermore, the fair value of the Company’s notes payable are initially measured at fair value given that they are estimated based on current rates that would be available for debt of similar terms. | |||||||||||||||||
The following tables provide information about the Company’s financial instruments measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014 by the fair value hierarchy: | |||||||||||||||||
Balance as of | |||||||||||||||||
March 31, | |||||||||||||||||
Level 1 | Level 2 | Level 3 | 2015 | ||||||||||||||
Investments: | |||||||||||||||||
Publicly traded common stock | $ | 362,412 | $ | - | $ | - | $ | 362,412 | |||||||||
Private company preferred stock | - | - | 2,697,358 | 2,697,358 | |||||||||||||
Total | $ | 362,412 | $ | - | $ | 2,697,358 | $ | 3,059,770 | |||||||||
Balance as of | |||||||||||||||||
December 31, | |||||||||||||||||
Level 1 | Level 2 | Level 3 | 2014 | ||||||||||||||
Investments: | |||||||||||||||||
Publicly traded common stock | $ | 312,287 | $ | - | $ | - | $ | 312,287 | |||||||||
Private company preferred stock | - | - | 2,674,677 | 2,674,677 | |||||||||||||
Total | $ | 312,287 | $ | - | $ | 2,674,677 | $ | 2,986,964 | |||||||||
The following tables presents the Company’s investments measured at fair value using significant unobservable inputs (Level 3), including the valuation technique and unobservable inputs used to measure the fair value of those financial instruments: | |||||||||||||||||
Fair Value as of | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | Valuation Technique | Unobservable Inputs | |||||||||||||||
Private Company Preferred Stock | $ | 2,574,666 | Market approach | Third party transaction | |||||||||||||
Private Company Preferred Stock | $ | 122,692 | A recent round of financing | Third party transaction | |||||||||||||
Fair Value as of | |||||||||||||||||
December 31, | |||||||||||||||||
2014 | Valuation Technique | Unobservable Inputs | |||||||||||||||
Private Company Preferred Stock | $ | 2,574,666 | Market approach | Third party transaction | |||||||||||||
Private Company Preferred Stock | $ | 100,011 | A recent round of financing | Third party transaction | |||||||||||||
The following table presents additional information about Level 3 assets measured at fair value on a recurring basis for three months ended March 31, 2015 and 2014. Both observable and unobservable inputs may be used to determine the fair value of positions that the Company has classified within the Level 3 category. As a result, unrealized gains or (losses) during the period for assets and liabilities within the Level 3 category presented in the tables below may include changes in fair value during the period that were attributable to both observable and unobservable inputs. | |||||||||||||||||
Three Months Ended | |||||||||||||||||
31-Mar-15 | |||||||||||||||||
Balance as of December 31, 2014 | $ | 2,674,677 | |||||||||||||||
Unrealized gain on investments | 22,681 | ||||||||||||||||
Balance as of March 31, 2015 | $ | 2,697,358 | |||||||||||||||
Three Months Ended | |||||||||||||||||
31-Mar-14 | |||||||||||||||||
Balance as of December 31, 2013 | $ | 2,001,919 | |||||||||||||||
Unrealized gain on investments | - | ||||||||||||||||
Balance as of March 31, 2014 | $ | 2,001,919 |
Note_3_Investments
Note 3 - Investments | 3 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
Investment [Text Block] | 3. INVESTMENTS |
TangoMe, Inc. | |
On March 30, 2012, the Company purchased 468,121 shares of Series A Preferred stock from related party William R. Hambrecht at $2.14 per share, resulting in a total investment of $1,000,000. | |
For the year ended December 31, 2014, the Company recorded an unrealized gain of $572,747, bringing the total value of the investment in TangoMe, Inc. to $2,574,666 as of December 31, 2014. There was no change in value as of March 31, 2015, with the valuation remaining at $2,574,666. The fair value is based on similar securities sold to certain related and unrelated third parties. The use of a recent round of financing for TangoMe, Inc. is the primary significant unobservable input used in the fair value measurement of the Company’s investment. Significant increases (decreases) in any subsequent rounds of financing would result in a significantly higher (lower) fair value measurement | |
Salon Media Group, Inc. | |
The Company owns 1,926,857 shares of Common Stock of Salon Media Group, Inc. These shares resulted from the April 24, 2013 exchange of 843 shares of Series C Preferred Stock of Salon Media Group Inc. This investment in common shares of Salon is valued at $0.13 per share, or $250,491, as of December 31, 2014. For the year ended December 31, 2014 the Company recorded a related unrealized loss of $616,595 on the investment. This investment in common shares of Salon is valued at $0.16 per share, or $308,297, as of March 31, 2015. For the three months ended March 31, 2015 the Company recorded a related unrealized gain of $57,806 on the investment. | |
Additionally, in conjunction with making the investment in Salon, the Company received warrants to purchase common stock in Salon. In 2006, the Company exercised its warrants to purchase a total of 79,970 shares of common stock of Salon. This investment in common shares of Salon is valued at $0.13 per share, or $10,396, at December 31, 2014. For the year ended December 31, 2014, the Company recorded a related unrealized loss of $25,591 on the investment. This investment in common shares of Salon is valued at $0.16 per share, or $12,795, at March 31, 2015. For the three months ended March 31, 2015, the Company recorded a related unrealized gain of $2,399 on the investment. | |
FlexiInternational Software, Inc. | |
The Company owns 78,000 shares of Flexi International Software stock. The investment in common shares of Flexi is valued at $0.14, or $10,920 at March 31, 2015 and $0.15 per share, or $11,700 at December 31, | |
2014. For the three months ended March 31, 2015 the Company recorded a related unrealized loss of $780, and for the year ended December 31, 2014 an unrealized loss of $780. | |
Truett-Hurst | |
, Inc. | |
The company owns 10,000 shares of Truett-Hurst common stock. The investment in Truett-Hurst is valued at $3.04 per share, or $30,400 at March 31, 2015. The investment was valued at $3.97 per share, or $39,700 for the year ended December 31, 2014. The Company recorded a related unrealized loss of $9,300 on the investment for the three months ended March 31, 2015. For the year ended December 31, 2014, the Company recorded an unrealized loss of $2,000. | |
Arcimoto, Inc. | |
During fiscal year 2014 the Company purchased 37,000 shares of Arcimoto, Inc. series A-1 preferred stock for $100,011. During March 2015, Arcimoto, Inc. had a round of financing at a share valuation 23% higher than the Company’s cost, resulting in an unrealized gain of $22,682 and bringing the total investment value of Arcimoto as of March 31, 2015 to $122,693. The fair value as of March 31, 2015, based on this recent financing, which is a third party transaction and is the primary significant unobservable input used in the fair value measurement of the Company's investment in Acrimoto, Inc. Significant increases (decreases) in any subsequent transactions would result in a significantly higher (lower) fair value measurement. | |
For the year ended December 31, 2014, the Company had valued this investment at its cost. |
Note_4_Related_Party_Transacti
Note 4 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 4. RELATED PARTY TRANSACTIONS |
Mr. William R Hambrecht, Chief Executive Officer, is a minority shareholder in Salon Media Group. | |
Ms. Elizabeth Hambrecht, Director, is currently the interim Chief Financial Officer of Salon Media Group, Inc. Ms. Hambrecht formerly served as former President and Chief Executive Officer of Salon Media Group, Inc. Ms. Hambrecht is also the sister of a member of the Board of Directors, and is the daughter of the Chief Executive Officer. | |
On December 31, 2014 the Company combined all the various notes payable, which were issued at various times to Mr. William R. Hambrecht, to one note for $182,000 at 7.75% interest, with a December 31, 2015 maturity. |
Note_5_Note_Payable
Note 5 - Note Payable | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Notes to Financial Statements | |||||||||||||||||
Debt Disclosure [Text Block] | 5. NOTE PAYABLE | ||||||||||||||||
On March 31, 2012, the Company received $1,000,000 from a third party and issued a related promissory note. The note carries an 8% interest rate, per annum, and has a maturity date of March 31, 2017. Interest accrues on the balance and converts to separate notes payable on a quarterly basis. The total amounts due under this agreement, including the notes related to accrued interest, are due in full at the end of the term. The note is secured by all of the assets of the Company through an accompanying security agreement. If the Company defaults on the note or security agreement, interest would accrue at 10% per annum. The gross amounts payable under the agreement as of March 31, 2015 and December 31, 2014 were $1,268,242 and $1,243,708 respectively. | |||||||||||||||||
In connection with the note agreement, the Company also issued warrants to this third party to purchase 187,296 shares of the Company’s common stock, for total consideration of $1. The warrants were separately valued using the Black-Scholes model, and it was determined the fair value of the warrants at March 31, 2012 was $56,188. This amount has been recorded as a discount on the $1,000,000 note payable and will be amortized over the 5 year term of the note. For the quarters ended March 31, 2015 and December 31, 2014, accretion of the note payable discount was $2,780 and the remaining unamortized balance was $32,514 and $35,294 respectively. On May 21, 2014, the warrant for 187,296 shares was exercised and shares were issued. | |||||||||||||||||
Furthermore, the Company has a note payable agreement with a related party, William R. Hambrecht. This note carries a 7.75% interest rate per annum and has a maturity date of December 31, 2015. The note payable carried a principal balance of $182,000 as of March 31, 2015 and December 31, 2014 with additional accrued interest of $27,703 and $24,255 respectively. | |||||||||||||||||
The scheduled maturities of notes payable outstanding as of March 31, 2015 are as follows: | |||||||||||||||||
2015 | 2016 | 2017 | Total | ||||||||||||||
Notes payable | $ | - | $ | - | $ | 1,268,242 | $ | 1,268,242 | |||||||||
Notes payable - related party | 182,000 | - | - | 182,000 | |||||||||||||
Total | $ | 182,000 | $ | - | $ | 1,268,242 | $ | 1,450,242 |
Note_6_Line_of_Credit_Arrangem
Note 6 - Line of Credit Arrangement | 3 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
Line Of Credit Arrangement [Text Block] | 6. LINE OF CREDIT |
ARRANGEMENT | |
The Company has a line of credit arrangement with First Republic Bank (the “lender”) with a borrowing limit of $350,000 with interest based upon the lender’s prime rate plus 4.5% and is payable monthly. At March 31, 2015 and December 31, 2014, interest was being paid at a rate of 7.75%. The line is guaranteed by both William R. Hambrecht, Director and Chief Executive Officer, and Robert H. Hambrecht, Director. The line of credit is due on demand and is secured by all of the Company’s business assets. As of March 31, 2015 and December 31, 2014, the outstanding balance under the line was $350,000. The total recorded interest expense on this note for the quarter ended March 31, 2015 and quarter ended December 31, 2014 was $6,688 and $6,637 respectively. The line of credit is still pending renewal with a proposed maturity date of February 17, 2020. |
Note_7_Stockholders_Equity
Note 7 - Stockholders' Equity | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Notes to Financial Statements | |||||||||
Stockholders' Equity Note Disclosure [Text Block] | 7. STOCKHOLDERS’ EQUITY | ||||||||
Common Stock | |||||||||
On January 2, 2014, the Company entered into a Stock Purchase Agreement (the “Purchase Agreement”) with new investors and existing investors (each, a “Share Purchaser” and, collectively, the “Share Purchasers”), pursuant to which, the Company issued and sold to such Share Purchasers 131,429 shares of the Company’s Common Stock, representing approximately 7% of Ironstone’s outstanding equity securities on the date of purchase, for an aggregate purchase price of $230,000. | |||||||||
On May 1, 2014, a third party exercised warrants for 187,296 shares of the Company’s Common Stock. As of September 30, 2014, the Company issued 187,296 shares from the warrant exercise to the third party. | |||||||||
Treasury Stock | |||||||||
On September 15, 2003, the Board of Directors authorized the Company to purchase 745,536 shares of Company common stock at $0.70 per share for an aggregate purchase price of $521,875. The repurchase represented 50.11% of the issued and outstanding shares of the Company. During the year ended December 31, 2008, the Company paid $699 for fractional Treasury shares. As of March 31, 2015 and December 31, 2014, the treasury shares are held by the Company. | |||||||||
Preferred Stock | |||||||||
The Company is authorized to issue up to five million shares of preferred stock without further shareholder approval; the rights, preferences and privileges of which would be determined at the time of issuance. No shares have been issued as of March 31, 2015 and December 31, 2014. | |||||||||
Stock-Based Compensation | |||||||||
For the quarters ended March 31, 2015 and March 31, 2014, the Company recorded stock-based compensation expense of $6,475 and $8,591, respectively. As of March 31, 2015, Ironstone had an aggregate of $57,655 of stock-based compensation remaining to be expensed over the remaining requisite service period of the underlying options, which is expected to be over a weighted average period of 1.2 years. Ironstone currently expects this stock-based compensation balance to be expensed as follows: $19,413 during the remaining three quarters of fiscal year 2015; $25,884 during fiscal year 2016 and $12,358 during fiscal year 2017. | |||||||||
Stock Option Plans | |||||||||
The Company has adopted a 2013 Equity Incentive Plan. As of January 30, 2013, 187,296 shares were available for grant under the Plan. The plan provides for incentive stock options to be granted at times and prices determined by the Company’s Board of Directors. The stock options are to be granted to directors, officers and employees of the Company, as well as certain consultants and other persons providing services to the Company. | |||||||||
70,000 stock options were granted on January 30, 2013. The fair value of these options granted under the Plan were estimated using the Black-Scholes model with the following price and assumptions: Stock Price $.20, Exercise Price $.20, Time to Maturity 6.33 years, Risk-free Interest Rate 0.4%, Annualized Volatility 121%. | |||||||||
An additional 100,000 stock options were granted on August 20, 2013. The fair value of these options granted under the Plan were estimated using the Black-Scholes model with following price and assumptions: Stock Price $1.20, Exercise Price $1.20, Time to Maturity 4.0 years, Risk-free Interest Rate 1.0%, Annualized Volatility 93%. | |||||||||
Earnings (Loss) Per Share | |||||||||
Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income | |||||||||
(loss) for the period by the weighted average number of common and dilutive potential common shares outstanding during the period, if dilutive. Potentially dilutive common equivalent shares are composed of the incremental common shares issuable upon the exercise of stock options. The following is the computations of the basic and diluted net income per share and the anti-dilutive common stock equivalents excluded from the computations for the periods presented: | |||||||||
Years Ended | |||||||||
31-Mar-15 | 31-Mar-14 | ||||||||
Numerator: | |||||||||
Net Loss | $ | (76,768 | ) | $ | (59,524 | ) | |||
Denominator: | |||||||||
Weighted average shares outstanding - basic | 2,189,889 | 1,872,964 | |||||||
Effect of dilutive potential shares | - | - | |||||||
Weighted average shares outstanding - diluted | 2,189,889 | 2,183,023 | |||||||
Net loss per share - basic | $ | (0.04 | ) | $ | (0.03 | ) | |||
Net loss per share - diluted | $ | (0.04 | ) | $ | (0.03 | ) | |||
Anti-dilutive stock options and awards not included in the net loss per share calculation | 170,000 | 170,000 |
Note_8_Managements_Plan
Note 8 - Management's Plan | 3 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
Contingencies Disclosure [Text Block] | 8. MANAGEMENT’S PLANS |
As reflected in the accompanying financial statements, the Company has net losses and has a negative cash flow from operations. If necessary, the Company may seek to sell additional debt or equity securities, or enter into new credit facilities. The Company cannot make assurances that it will be able to complete any financing or liquidity transaction, that such financing or liquidity transaction will be adequate for the Company’s needs, or that a financing or liquidity transaction will be completed in a timely manner. Furthermore, the Company may seek to sell its marketable securities to meet its operating needs. However, the fair value of these marketable securities fluctuates and may not be adequate for the Company’s needs. Management also believes it will be able to renew its line of credit with the lender with similar terms to the recently expired line of credit. If the line of credit is not renewed, management may liquidate securities to satisfy its obligations. |
Significant_Accounting_Policie
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Business Activities [Policy Text Block] | Business Activities |
Ironstone Group, Inc. and subsidiaries have no operations but are seeking appropriate business combination opportunities. Ironstone Group, Inc, (“Ironstone” or the “Company”) a Delaware corporation, was incorporated in 1972. | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation |
The accompanying unaudited condensed consolidated financial statements include the accounts of Ironstone Group, Inc. and its subsidiaries, AcadiEnergy, Inc., Belt Perry Associates, Inc., DeMoss Corporation, and TaxNet, Inc. (collectively the “Company”). All significant intercompany accounts and transactions have been eliminated in consolidation. | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation |
The unaudited condensed consolidated financial statements included herein have been prepared by the Company in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures, normally included in financial statements prepared in accordance with U.S. GAAP, have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, these unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the financial position of the Company as of March 31, 2015 and December 31, 2014, the results of its operations for the three month periods ended March 31, 2015 and March 31, 2014 and its cash flows for the three month periods ended March 31, 2015 and March 31, 2014. The results of operations for the periods presented are not necessarily indicative of those that may be expected for the full year. The condensed consolidated financial statements presented herein have been prepared by management, without audit by independent auditors who do not express an opinion thereon, and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014. The December 31, 2014 condensed consolidated balance sheet data was derived from audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 but does not include all disclosures required for annual periods. | |
There have been no significant changes in the Company’s significant accounting policies from those were disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 2014. | |
Marketable Securities, Policy [Policy Text Block] | Marketable and |
Non-Marketable Securities | |
Marketable and non-marketable securities have been classified by management as available for sale in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 320, marketable securities are recorded at fair value and any unrealized gains and losses are excluded from earnings and reported as a separate component of stockholders’ equity until realized. The fair value of the Company’s marketable securities and investments at March 31, 2015 and December 31, 2014 are based on quoted market prices. For the purpose of computing realized gains and losses, cost is identified on a specific identification basis. For marketable securities for which there is an other-than-temporary impairment, an impairment loss is recognized as a realized loss, and related adjustments are not made for recovery in value. The Company has not realized any such impairment losses to date. | |
Securities determined to be non-marketable by the Company do not have readily determinable fair values. The Company estimates the fair value of these instruments using various pricing models and the information available to the Company that it deems most relevant. Among the factors considered by the Company in determining the fair value of financial instruments are discounted anticipated cash flows, the cost, terms and liquidity of the instrument, the financial condition, operating results and credit ratings of the issuer or underlying company, the quoted market price of publicly traded securities with similar duration and yield, the Black-Scholes Options Valuation methodology adjusted for active market, the share price of recent round of financings by an outsider, and other considerations on a case-by-case basis and other factors generally pertinent to the valuation of financial instruments. | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made in the financial statements relate to the valuation of the Company’s non-marketable investments. Actual results could differ from those estimates. | |
Income Tax, Policy [Policy Text Block] | Income Taxes |
The Company and its wholly owned subsidiaries file a consolidated federal income tax return. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred income taxes. Deferred income taxes are recognized for differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future. Deferred income taxes are also recognized for net operating loss carryforwards that are available to offset future taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. As of March 31, 2015 and December 31, 2014, a full valuation allowance has been recorded to offset loss carryforwards as, in management’s opinion, there is uncertainty as to whether or not the Company will be able to generate taxable income in the future. | |
The Company follows the authoritative guidance on accounting for and disclosure of uncertainty in tax positions, which requires the Company to determine whether a tax position is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. For tax positions meeting the more likely than not threshold, the tax amount recognized in the financial statements is reduced by the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant taxing authority. The Company has determined that there is no effect on the financial statements from this authoritative guidance. | |
The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state, local, and foreign jurisdictions, where applicable. As of March 31, 2015, the tax years that remain subject to examination by the major tax jurisdictions under the statute of limitations is from the year 2011 forward for Federal and 2010 forward for California (with limited exceptions). | |
During the three months ended March 31, 2015 and 2014, the Company did not recognize any interest or penalties related to income taxes in its consolidated statement of operations. | |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation |
Ironstone recognizes the fair value of stock options granted on a straight-line basis over the requisite service period of the option grant, which is the standard vesting term of four years. | |
The full impact of stock-based compensation in the future is dependent upon, among other things, the total number of stock options granted, the fair value of the stock options at the time of grant and the tax benefit that Ironstone may or may not receive from stock-based expenses. Additionally, stock-based compensation requires the use of an option-pricing model to determine the fair value of stock option awards. This determination of fair value is affected by Ironstone’s stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to Ironstone’s expected stock price volatility over the term of the awards. | |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Loss per Share |
Basic loss per share (“EPS”) excludes dilution and is computed by dividing net income (loss) applicable to common shareholders by the weighted average number of common shares actually outstanding during the period. Diluted EPS reflects the dilution from potentially dilutive securities, except where inclusion of such potentially dilutive securities would have an anti-dilutive effect, using the average stock price during the period in the computation and because of the net loss for the periods presented. | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements |
In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-15, | |
“Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” | |
(“ASU 2014-15”). ASU 2014-15 introduces an explicit requirement for management to assess and provide certain disclosures if there is substantial doubt about an entity’s ability to continue as a going concern. ASU 2014-15 is effective for the annual period ending after December 15, 2016. The Company continues to evaluate the impact that the adoption of ASU 2014-15 will have on the Company’s consolidated financial statements. | |
In February 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update (ASU) 2015-02, Comprehensive Income (Topic 810) – Amendments to the Consolidation Analysis, which requires an entity to evaluate whether they should consolidate certain legal entities. The amendments in this Update are effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. For all other entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, and for interim periods within fiscal years beginning after December 15, 2017. The Company is reviewing the applicability of this amendment. |
Note_2_Fair_Value_Measurements1
Note 2 - Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Notes Tables | |||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Balance as of | ||||||||||||||||
March 31, | |||||||||||||||||
Level 1 | Level 2 | Level 3 | 2015 | ||||||||||||||
Investments: | |||||||||||||||||
Publicly traded common stock | $ | 362,412 | $ | - | $ | - | $ | 362,412 | |||||||||
Private company preferred stock | - | - | 2,697,358 | 2,697,358 | |||||||||||||
Total | $ | 362,412 | $ | - | $ | 2,697,358 | $ | 3,059,770 | |||||||||
Balance as of | |||||||||||||||||
December 31, | |||||||||||||||||
Level 1 | Level 2 | Level 3 | 2014 | ||||||||||||||
Investments: | |||||||||||||||||
Publicly traded common stock | $ | 312,287 | $ | - | $ | - | $ | 312,287 | |||||||||
Private company preferred stock | - | - | 2,674,677 | 2,674,677 | |||||||||||||
Total | $ | 312,287 | $ | - | $ | 2,674,677 | $ | 2,986,964 | |||||||||
Fair Value Assets Measured on Recurring Basis Transfers in Out [Table Text Block] | Three Months Ended | ||||||||||||||||
31-Mar-15 | |||||||||||||||||
Balance as of December 31, 2014 | $ | 2,674,677 | |||||||||||||||
Unrealized gain on investments | 22,681 | ||||||||||||||||
Balance as of March 31, 2015 | $ | 2,697,358 | |||||||||||||||
Three Months Ended | |||||||||||||||||
31-Mar-14 | |||||||||||||||||
Balance as of December 31, 2013 | $ | 2,001,919 | |||||||||||||||
Unrealized gain on investments | - | ||||||||||||||||
Balance as of March 31, 2014 | $ | 2,001,919 | |||||||||||||||
Fair Value, Inputs, Level 3 [Member] | |||||||||||||||||
Notes Tables | |||||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Fair Value as of | ||||||||||||||||
March 31, | |||||||||||||||||
2015 | Valuation Technique | Unobservable Inputs | |||||||||||||||
Private Company Preferred Stock | $ | 2,574,666 | Market approach | Third party transaction | |||||||||||||
Private Company Preferred Stock | $ | 122,692 | A recent round of financing | Third party transaction | |||||||||||||
Fair Value as of | |||||||||||||||||
December 31, | |||||||||||||||||
2014 | Valuation Technique | Unobservable Inputs | |||||||||||||||
Private Company Preferred Stock | $ | 2,574,666 | Market approach | Third party transaction | |||||||||||||
Private Company Preferred Stock | $ | 100,011 | A recent round of financing | Third party transaction |
Note_5_Note_Payable_Tables
Note 5 - Note Payable (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Notes Tables | |||||||||||||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | 2015 | 2016 | 2017 | Total | |||||||||||||
Notes payable | $ | - | $ | - | $ | 1,268,242 | $ | 1,268,242 | |||||||||
Notes payable - related party | 182,000 | - | - | 182,000 | |||||||||||||
Total | $ | 182,000 | $ | - | $ | 1,268,242 | $ | 1,450,242 |
Note_7_Stockholders_Equity_Tab
Note 7 - Stockholders' Equity (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Notes Tables | |||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years Ended | ||||||||
31-Mar-15 | 31-Mar-14 | ||||||||
Numerator: | |||||||||
Net Loss | $ | (76,768 | ) | $ | (59,524 | ) | |||
Denominator: | |||||||||
Weighted average shares outstanding - basic | 2,189,889 | 1,872,964 | |||||||
Effect of dilutive potential shares | - | - | |||||||
Weighted average shares outstanding - diluted | 2,189,889 | 2,183,023 | |||||||
Net loss per share - basic | $ | (0.04 | ) | $ | (0.03 | ) | |||
Net loss per share - diluted | $ | (0.04 | ) | $ | (0.03 | ) | |||
Anti-dilutive stock options and awards not included in the net loss per share calculation | 170,000 | 170,000 |
Note_1_Business_and_Summary_of1
Note 1 - Business and Summary of Significant Accounting Policies (Details Textual) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Entity Information [Line Items] | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $0 | $0 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years |
Note_2_Fair_Value_Measurements2
Note 2 - Fair Value Measurements - Fair Value Hierarchy (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Investments: | ||
Non-marketable securities | $2,697,358 | $2,674,677 |
Total | 3,059,770 | 2,986,964 |
Fair Value, Inputs, Level 1 [Member] | Marketable Securities Including Related Party [Member] | ||
Investments: | ||
Marketable securities | 362,412 | 312,287 |
Fair Value, Inputs, Level 1 [Member] | ||
Investments: | ||
Total | 362,412 | 312,287 |
Fair Value, Inputs, Level 3 [Member] | Non Marketable Securities [Member] | ||
Investments: | ||
Non-marketable securities | 2,697,358 | 2,674,677 |
Fair Value, Inputs, Level 3 [Member] | ||
Investments: | ||
Non-marketable securities | 2,697,358 | 2,674,677 |
Total | 2,697,358 | 2,674,677 |
Marketable Securities Including Related Party [Member] | ||
Investments: | ||
Marketable securities | 362,412 | 312,287 |
Non Marketable Securities [Member] | ||
Investments: | ||
Non-marketable securities | $2,697,358 | $2,674,677 |
Note_2_Fair_Value_Measurements3
Note 2 - Fair Value Measurements - Investment Fair Value Using Significant Unobservable Inputs (Level 3) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Non-marketable securities | $2,697,358 | $2,674,677 |
Market Approach Valuation Technique [Member] | ||
Non-marketable securities | 2,574,666 | 2,574,666 |
Recent Round of Financing [Member] | ||
Non-marketable securities | $122,692 | $100,011 |
Note_2_Fair_Value_Measurements4
Note 2 - Fair Value Measurements - Transfers In/Out of Level 3 Assets Measured on Recurring Basis (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Balance | $2,697,358 | |
Fair Value, Inputs, Level 3 [Member] | ||
Balance | 2,674,677 | 2,001,919 |
Unrealized gain on investments | 22,681 | 0 |
Balance | $2,697,358 | $2,001,919 |
Note_3_Investments_Details_Tex
Note 3 - Investments (Details Textual) (USD $) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2015 | Dec. 31, 2014 | Mar. 30, 2012 | Apr. 24, 2013 | Dec. 31, 2006 | |
Investment [Line Items] | |||||
Investment Owned, at Fair Value | $2,697,358 | $2,674,677 | |||
Tango Me Inc [Member] | Chief Executive Officer [Member] | Series A Preferred Stock [Member] | |||||
Investment [Line Items] | |||||
Investment Owned, Balance, Shares | 468,121 | ||||
Share Price | $2.14 | ||||
Investment Owned, at Cost | 1,000,000 | ||||
Tango Me Inc [Member] | |||||
Investment [Line Items] | |||||
Unrealized Gain (Loss) on Investments | 0 | 572,747 | |||
Investment Owned, at Fair Value | 2,574,666 | 2,574,666 | |||
Unrealized Gain (Loss) on Investments | 0 | -572,747 | |||
Salon Media Group Inc [Member] | Common Stock [Member] | |||||
Investment [Line Items] | |||||
Unrealized Gain (Loss) on Investments | 57,806 | -616,595 | |||
Investment Owned, Balance, Shares | 1,926,857 | ||||
Share Price | $0.16 | $0.13 | |||
Investment Owned, at Fair Value | 308,297 | 250,491 | |||
Unrealized Gain (Loss) on Investments | -57,806 | 616,595 | |||
Salon Media Group Inc [Member] | Series C Preferred Stock [Member] | |||||
Investment [Line Items] | |||||
Investment Owned, Balance, Shares | 843 | ||||
Salon Media Group Inc [Member] | Common Stock Purchase Under Warrants [Member] | |||||
Investment [Line Items] | |||||
Unrealized Gain (Loss) on Investments | 2,399 | -25,591 | |||
Investment Owned, Balance, Shares | 79,970 | ||||
Share Price | $0.16 | $0.13 | |||
Investment Owned, at Fair Value | 12,795 | 10,396 | |||
Unrealized Gain (Loss) on Investments | -2,399 | 25,591 | |||
Flexi [Member] | Common Stock [Member] | |||||
Investment [Line Items] | |||||
Unrealized Gain (Loss) on Investments | -780 | -780 | |||
Investment Owned, Balance, Shares | 78,000 | ||||
Share Price | $0.14 | $0.15 | |||
Investment Owned, at Fair Value | 10,920 | 11,700 | |||
Unrealized Gain (Loss) on Investments | 780 | 780 | |||
Truett-Hurst Inc [Member] | Common Stock [Member] | |||||
Investment [Line Items] | |||||
Unrealized Gain (Loss) on Investments | -9,300 | -2,000 | |||
Investment Owned, Balance, Shares | 10,000 | ||||
Share Price | $3.04 | $3.97 | |||
Investment Owned, at Fair Value | 30,400 | 39,700 | |||
Unrealized Gain (Loss) on Investments | 9,300 | 2,000 | |||
Arcimoto Inc [Member] | Preferred Stock [Member] | |||||
Investment [Line Items] | |||||
Unrealized Gain (Loss) on Investments | 22,682 | ||||
Investment Owned, Balance, Shares | 37,000 | ||||
Investment Owned, at Fair Value | 122,693 | 100,011 | |||
Unrealized Gain (Loss) on Investments | ($22,682) | ||||
Financing Activities, Share Valuation Above Cost, Percentage | 23.00% |
Note_4_Related_Party_Transacti1
Note 4 - Related Party Transactions (Details Textual) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Related Party Transaction [Line Items] | |
Notes Payable, Related Parties, Current | $182,000 |
Related Party Transaction, Rate | 7.75% |
Note_5_Note_Payable_Details_Te
Note 5 - Note Payable (Details Textual) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
21-May-14 | Mar. 31, 2012 | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Sep. 30, 2014 | 2-May-14 | |
Debt Instrument [Line Items] | |||||||
Accretion of Discount | $2,780 | $2,780 | $2,780 | ||||
Notes Payable | 1,235,728 | 1,208,416 | |||||
Proceeds from Notes Payable | 1,000,000 | 22,665 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 187,296 | 187,296 | |||||
Warrants and Rights Outstanding | 56,188 | ||||||
Debt Instrument, Face Amount | 1,000,000 | ||||||
Amortization Period | 5 years | ||||||
Debt Instrument, Unamortized Discount | 32,514 | 35,294 | |||||
Class of Warrant or Rights Exercised in Period | 187,296 | ||||||
William R Hambrecht [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Notes Payable | 182,000 | 182,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 7.75% | ||||||
Interest Payable | 27,703 | 24,255 | |||||
Default Rate [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Default Interest Accrual | 10.00% | ||||||
Security Agreement [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Notes Payable | $1,268,242 | $1,243,708 | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 187,296 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $1 |
Note_5_Note_Payable_Scheduled_
Note 5 - Note Payable - Scheduled Maturities of Notes Payable Outstanding (Details) (USD $) | Mar. 31, 2015 |
2017 | $1,268,242 |
Total | 1,450,242 |
2015 | 182,000 |
Excluding Related Parties [Member] | |
2017 | 1,268,242 |
Total | 1,268,242 |
William R Hambrecht [Member] | |
Total | 182,000 |
2015 | $182,000 |
Note_6_Line_of_Credit_Arrangem1
Note 6 - Line of Credit Arrangement (Details Textual) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2012 | |
Line of Credit Facility [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||
Long-term Line of Credit | $350,000 | $350,000 | |
Line of Credit Facility, Maximum Borrowing Capacity | 350,000 | ||
Line of Credit Facility, Periodic Payment, Interest | $6,688 | $6,637 | |
Line of Credit [Member] | |||
Line of Credit Facility [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.75% | 7.75% | |
Prime Rate [Member] | |||
Line of Credit Facility [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% |
Note_7_Stockholders_Equity_Det
Note 7 - Stockholders' Equity (Details Textual) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||
Jan. 02, 2014 | Sep. 15, 2003 | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2008 | Dec. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Aug. 20, 2013 | Jan. 30, 2013 | Dec. 31, 2014 | Sep. 30, 2014 | 2-May-14 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Preferred Stock, Shares Issued | 0 | 0 | 0 | |||||||||||
Stock Issued During Period, Shares, New Issues | 131,429 | |||||||||||||
Percent Ownership of CommonStock Outstanding | 7.00% | |||||||||||||
Proceeds from Issuance of Common Stock | $230,000 | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 187,296 | 187,296 | ||||||||||||
Treasury Stock, Shares, Acquired | 745,536 | |||||||||||||
Common Stock, Par or Stated Value Per Share | $0.70 | $0.01 | $0.01 | |||||||||||
Treasury Stock, Value | 521,875 | 522,574 | 522,574 | |||||||||||
Percentage Of Common Stock Repurchased | 50.11% | |||||||||||||
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 | ||||||||||||
Allocated Share-based Compensation Expense | 6,475 | 8,591 | ||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | 57,655 | |||||||||||||
Fractional Treasury [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Treasury Stock, Value, Acquired, Cost Method | 699 | |||||||||||||
Employee Stock Option [Member] | Scenario, Forecast [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Allocated Share-based Compensation Expense | $19,413 | $12,358 | $25,884 | |||||||||||
Employee Stock Option [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 73 days | |||||||||||||
Equity Incentive Plan 2013 [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 187,296 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 100,000 | 70,000 | ||||||||||||
Share Price | $1.20 | $0.20 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $1.20 | $0.20 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 4 years | 6 years 120 days | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.00% | 0.40% | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 93.00% | 121.00% |
Note_7_Stockholders_Equity_Bas
Note 7 - Stockholders' Equity - Basic and Diluted Net Income Per Share (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Numerator: | ||
Net Loss | ($76,768) | ($59,524) |
Denominator: | ||
Weighted average shares outstanding - basic (in shares) | 2,189,889 | 1,872,964 |
Weighted average shares outstanding - diluted (in shares) | 2,189,889 | 2,183,023 |
Net loss per share - basic (in dollars per share) | ($0.04) | ($0.03) |
Net loss per share - diluted (in dollars per share) | ($0.04) | ($0.03) |
Anti-dilutive stock options and awards not included in the net loss per share calculation (in shares) | 170,000 | 170,000 |
Note_8_Managements_Plan_Detail
Note 8 - Management's Plan (Details Textual) | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Preferred Stock, Shares Issued | 0 | 0 | 0 |