Electronic Systems Technology (ELST) 10-Q 30 Jul 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 12, 2019
Details
Registrant CIK	0000752294
Fiscal Year End	--12-31
Registrant Name	Electronic Systems Technology Inc
SEC Form	10-Q
Period End date	Jun. 30, 2019
Trading Symbol	ELST
Trading Exchange	NONE
Tax Identification Number (TIN)	91-1238077
Number of common stock shares outstanding		4,946,502
Filer Category	Non-accelerated Filer
Current with reporting	Yes
Interactive Data Current	Yes
Shell Company	false
Small Business	true
Emerging Growth Company	false
Entity Incorporation, State or Country Code	WA
Entity File Number	000-27793
Entity Address, Address Line One	415 N. Quay St. Bldg B1
Entity Address, City or Town	Kennewick
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	99336
City Area Code	509
Local Phone Number	735-9092
Title of 12(g) Security	Common Stock, $0.001 par value
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Document Transition Report	false

Electronic Systems Technology,

Electronic Systems Technology, Inc. Balance Sheets (Interim period unaudited) - USD ($)		Jun. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents		$ 225,330	$ 323,667
Certificates of deposit		900,000	900,000
Accounts receivable, net		137,865	57,156
Inventories		649,020	714,995
Prepaid expenses		25,816	21,353
Accrued interest receivable		6,804	13,300
Total current assets		1,944,835	2,030,471
Property and equipment, net of depreciation		16,383	20,368
Right to use - Lease, net of amortization	[1]	65,782	0
Total assets		2,027,000	2,050,839
Current liabilities
Accounts payable		57,173	71,257
Refundable deposits		2,225	10,310
Accrued wages and bonus		1,933	2,138
Accrued vacation pay		16,454	11,449
Lease liability, current portion	[1]	52,569	0
Other accrued liabilities		6,225	2,514
Total current liabilities		136,579	97,668
Lease liability, long-term portion payable	[1]	13,214	0
Total liabilities		149,793	97,668
Stockholders' equity
Additional paid-in capital		929,159	944,040
Retained earnings		943,101	1,004,145
Total stockholders' equity		1,877,207	1,953,171
Total liabilities and stockholders' equity		$ 2,027,000	$ 2,050,839
[1]	NOTE 6

Electronic Systems Technology_2

Electronic Systems Technology, Inc. Balance Sheets (Interim period unaudited) - Parenthetical - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Details
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares, Issued	4,946,502	4,985,048
Common Stock, Shares, Outstanding	4,946,502	4,985,048

ELECTRONIC SYSTEMS TECHNOLOGY_3

ELECTRONIC SYSTEMS TECHNOLOGY, INC STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Details
Sales, net	$ 395,262	$ 471,914	$ 769,428	$ 779,741
Cost of sales	(189,458)	(214,615)	(365,374)	(378,197)
Gross profit	205,804	257,299	404,054	401,544
Operating Expenses
General and administrative	69,188	65,347	162,694	148,160
Research and development	51,478	30,791	116,952	91,427
Marketing and sales	97,224	96,684	197,207	205,004
Operating loss	217,890	192,822	476,853	444,591
Operating loss	(12,086)	64,477	(72,799)	(43,047)
Other income
Interest income	5,867	4,401	11,755	8,132
Total other income	5,867	4,401	11,755	8,132
Net loss before income tax	(6,219)	68,878	(61,044)	(34,915)
Benefit (provision) for income tax	0	0	0	0
Net loss	$ (6,219)	$ 68,878	$ (61,044)	$ (34,915)
Basic and diluted earnings per share	$ 0	$ 0.01	$ (0.01)	$ (0.01)
Basic average shares	4,946,502	4,986,048	4,949,754	4,986,048
Diluted average shares	4,946,502	4,994,212	4,949,754	4,986,048

ELECTRONIC SYSTEMS TECHNOLOGY_4

ELECTRONIC SYSTEMS TECHNOLOGY, INC. STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($)	Common Stock	Additional Paid-in Capital	Retained Earnings	Total
Equity balance at Dec. 31, 2017	$ 4,986	$ 944,161	$ 1,120,244	$ 2,069,391
Shares outstanding at Dec. 31, 2017	4,986,048
Net Income/(Loss)	$ 0	0	(103,793)	(103,793)
Shares outstanding at Mar. 31, 2018	4,986,048
Equity balance at Mar. 31, 2018	$ 4,986	944,161	1,016,451	1,965,598
Net Income/(Loss)	$ 0	0	68,878	68,678
Shares outstanding at Jun. 30, 2018	4,986,048
Equity balance at Jun. 30, 2018	$ 4,986	944,161	1,085,329	2,034,476
Equity balance at Dec. 31, 2018	$ 4,986	944,040	1,004,145	1,953,171
Shares outstanding at Dec. 31, 2018	4,985,748
Net Income/(Loss)	$ 0	0	(54,825)	(54,825)
Common stock repurchased	(39,246)
Common stock repurchased	$ (39)	(14,881)	0	(14,920)
Shares outstanding at Mar. 31, 2019	4,946,502
Equity balance at Mar. 31, 2019	$ 4,947	929,159	943,320	1,883,426
Equity balance at Dec. 31, 2018	$ 4,986	944,040	1,004,145	$ 1,953,171
Shares outstanding at Dec. 31, 2018	4,985,748
Common stock repurchased				39,246
Common stock repurchased				$ (14,920)
Shares outstanding at Jun. 30, 2019	4,946,502
Equity balance at Jun. 30, 2019	$ 4,947	929,159	943,101	1,877,207
Equity balance at Mar. 31, 2019	$ 4,947	929,159	943,320	1,883,426
Shares outstanding at Mar. 31, 2019	4,946,502
Net Income/(Loss)	$ 0	0	(6,219)	(6,219)
Shares outstanding at Jun. 30, 2019	4,946,502
Equity balance at Jun. 30, 2019	$ 4,947	$ 929,159	$ 943,101	$ 1,877,207

ELECTRONIC SYSTEMS TECHNOLOGY_5

ELECTRONIC SYSTEMS TECHNOLOGY, INC. STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities
Net loss	$ (61,044)	$ (34,915)
Noncash items included in net loss
Depreciation	3,985	5,538
Changes in operating assets and liabilities
Accounts receivable, net	(80,709)	(72,465)
Inventories	65,974	125,255
Accrued interest receivable	6,495	(238)
Prepaid expenses	(4,462)	(2,011)
Accounts payable	(14,084)	10,720
Refundable deposits	(8,085)	(3,937)
Other accrued liabilities	8,513	716
NET CASH PROVIDED (USED) IN OPERATING ACTIVITIES	(83,417)	(28,663)
CASH FLOWS FROM INVESTING ACTIVITIES:
Certificates of deposit redeemed	900,000	250,000
Certificates of deposit purchased	(900,000)	(100,000)
NET CASH PROVIDED FROM INVESTING ACTIVITIES	0	150,000
CASH FLOWS USED IN FINANCING ACTIVITIES:
Repurchase of shares of common stock	(14,920)	0
NET CASH USED IN FINANCING ACTIVITIES	(14,920)	0
NET INCREASE IN CASH AND CASH EQUIVALENTS	(98,337)	178,663
Cash and cash equivalents at beginning of period	323,667	208,101
Cash and cash equivalents at end of period	$ 225,330	$ 386,764

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Notes
Note 1 - Basis of Presentation	NOTE 1 - BASIS OF PRESENTATION The financial statements, including notes, of Electronic Systems Technology, Inc. (the "Company") are representations of the Company’s management, which is responsible for their integrity and objectivity. The accompanying unaudited financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, as well as the instructions to Form 10-Q. Accordingly, the financial statements do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of June 30, 2019, and its results of operations, cash flows, and changes in stockholders’ equity for the three months and six months ended June 30, 2019 and 2018. The balance sheet at December 31, 2018 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. All amounts presented are in U.S. dollars. For further information, refer to the financial statements and footnotes thereto in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The results of operations for the three month and six month period ended June 30, 2019 are not necessarily indicative of the results expected for the full fiscal year or for any other fiscal period. The Company estimates that for 2019 the anticipated effective annual federal income tax rate will be 0%. Accounting Standards Updates Adopted In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02 Leases (Topic 842). The update modifies the classification criteria and requires lessees to recognize the assets and liabilities on the balance sheet for most leases. The update is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company adopted the update on January 1, 2019. Upon implementation of the new guidance, the Company recognized a liability and right-of-use asset of $91,637 as of January 1, 2019 for its one operating lease. The Company elected the transition option to apply the new guidance at the effective date without adjusting comparative periods presented. (See Note 6). Accounting Standards Updates to Become Effective in Future Periods In August 2018, the FASB issued ASU No. 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. The update removes, modifies and makes additions to the disclosure requirements on fair value measurements. The update is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. The Company is currently evaluating the impact of this update on our fair value measurement disclosures. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption.

Note 2 - Inventories

Note 2 - Inventories	6 Months Ended
	Jun. 30, 2019
Notes
Note 2 - Inventories	NOTE 2 - INVENTORIES Inventories are stated at lower of direct cost or net realizable value with cost determined using the FIFO (first in, first out) method. Inventories consist of the following: June 30, 2019 December 31, 2018 Parts $ 128,030 $ 133,809 Work in progress 205,817 243,081 Finished goods 315,173 338,105 Total inventories $ 649,020 714,995

Note 3 - Earnings (Loss) Per Sh

Note 3 - Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2019
Notes
Note 3 - Earnings (Loss) Per Share	NOTE 3 - EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share excludes dilution and is computed by dividing income (loss) available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings (loss) per share reflects potential dilution occurring if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. At June 30, 2019 and 2018, the Company had 120,000 outstanding stock options, respectively, that could have a dilutive effect on future periods’ net income. However, diluted earnings per share are not presented because their effect would be antidilutive due to Company’s losses.

Note 4 - Stock Options

Note 4 - Stock Options	6 Months Ended
	Jun. 30, 2019
Notes
Note 4 - Stock Options	NOTE 4 - STOCK OPTIONS As of June 30, 2019, the Company had outstanding stock options which have been granted periodically to individual employees and directors with no less than three years of continuous tenure with the Company. The Board of Directors did not issue stock options during the six month period ended June 30, 2019. A summary of option activity during the quarter ended June 30, 2019 is as follows: Number Outstanding Weighted-Average Exercise Price Per Share Weighted-Average Remaining Life (Years) Approximate Aggregate Intrinsic Value Outstanding and Exercisable at December 31, 2018 120,000 $ 0.40 Granted - - Expired - - Outstanding and Exercisable at June 30, 2019 120,000 $ 0.40 1.1 -

Note 5 - Revenue

Note 5 - Revenue	6 Months Ended
	Jun. 30, 2019
Notes
Note 5 - Revenue	NOTE 5 – REVENUE The Company product revenue includes industrial wireless products and accessories such as antennas, power supplies and cable assemblies. The Company also provides direct site support and engineering services to customers, such as repair and upgrade of its products. During the three month period ended June 30, 2019 and 2018, the Company’s revenue from products sales were $367,062 and $463,629, respectively. Revenue from site support and engineering services was $28,200 and $8,285 respectively, over the same periods. Year to date sales from products decreased to $736,451 as compared to $769,193 as of June 30, 2019 and 2018. Revenue from site support and engineering services for the six months ended June 30, 2019 and 2018, was $32,977 and $10,548, respectively. The Company’s customers, to which trade credit terms are extended, consist of United States and local governments and foreign and domestic companies. Domestic sales for the three month period ended June 30, 2019 were $337,679 compared to $446,589 in 2018. Sales to foreign customers for the three month period ended June 30, 2019 were $57,583 compared to $25,325 in 2018. For the three month period ended June 30, 2019, sales to three customers represented more than 10% of total revenue, three customers represented more than 10% of total revenue for the same period in 2018. 2019 Sales 2019 %age of Total Sales 2018 Sales 2018 %age of Total Sales Domestic customer A 40,362 10% 128,202 27% Domestic customer B 39,569 10% 73,093 15% Domestic customer C 37,725 10% 55,211 12% For the six month period ended June 30, 2019, sales to two customers represented more than 10% of total revenue, one customer represented more than 10% of total revenue for the same period in 2018. 2019 Sales 2019 %age of Total Sales 2018 Sales 2018 %age of Total Sales Domestic customer A 122,503 16% 197,044 25% Domestic customer B 79,950 10% As of June 30, 2019 and 2018, the Company had a sales order backlog of $3,307 and $425, respectively.

Note 6 - Leases

Note 6 - Leases	6 Months Ended
	Jun. 30, 2019
Notes
Note 6 - Leases	NOTE 6 - LEASES In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842). The update modifies the classification criteria and requires lessees to recognize the assets and liabilities on the balance sheet for most leases. The update is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company implemented this standard effective January 1, 2019. Upon implementation of the new guidance, the Company recognized a liability and right-of-use asset of $91,637 as of January 1, 2019 for its one operating lease. To calculate the liability and right to use asset, the Company utilized a 4.0% incremental borrowing rate to discount the future rent payments and remaining lease term of 1.75 years. The Company leases its facilities from a port authority for $5,542 per month for three years, expiring in September 2020, with annual increases based upon the Consumer Price Index. The original lease was effective October 1, 2014 and contained a three year renewal option and a provision for an annual increase of 2% per year, plus Leasehold Tax of 12.84%. On September 5, 2017, the Company exercised the three year option. The first year of this option was not subject to the 2% increase. The current lease does not contain the option to extend the lease. However, the Company believes that a new lease agreement will be signed prior to the expiration of the current lease. At June 30, 2019, the remaining lease term is 1.25 years For the three month and six month periods ended June 30, 2019 and 2018, lease expenses of $16,627 and $16,335, and $33,254 and $32,670 respectively, are included in the following expense classifications on the statement of operations: Three Months ended June 30, 2019 Three Months ended June 30, 2018 Six Months ended June 30, 2019 Six Months ended June 30, 2018 Cost of sales $ 3,325 $ 3,267 $ 6,650 $ 6,534 General and administrative 3,325 3,267 6,650 6,534 Research and development 3,325 3,267 6,650 6,534 Marketing and sales 6,652 6,534 13,304 13,068 Total $ 16,627 $ 16,335 $ 33,254 $ 32,670 As of June 30, 2019, total future lease payments are as follows: For the 12 months ended June 30, 2019 $ 29,728 2020 44,981 Total 74,709 Less imputed interest (8,927) Net lease liability 65,782 Current portion 52,569 Long-term portion $ 13,214

Note 7 - Stock Repurchase

Note 7 - Stock Repurchase	6 Months Ended
	Jun. 30, 2019
Notes
Note 7 - Stock Repurchase	NOTE 7 – STOCK REPURCHASE On January 13, 2016, the Company’s Board of Directors approved a resolution authorizing the repurchase of up to $100,000 of the Company’s common stock at the price of $0.38 per share. The Company’s share repurchase program does not obligate it to acquire any specific number of shares. On March 2, 2016, the Company’s Board of Director approved a resolution authorizing the repurchase of an additional $150,000 of the Company’s common stock at the price of $0.38 per share. Under the program (the “Stock Repurchase Plan”), shares may be repurchased in open market transactions, complying with Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Shares repurchased are retired. During the three month period ended June 30, 2019 and 2018, no shares were repurchased. During the six month period ended June 30, 2019, the Company repurchased 39,246 shares for $14,920; no shares were repurchased in the six month period ended June 30, 2018. Since inception of the Stock Repurchase Plan, the Company has repurchased 212,165 shares for a total of $80,622 through June 30, 2019 and $169,378 of the original $250,000 approved by the board remains.

Note 2 - Inventories_ Schedule

Note 2 - Inventories: Schedule of Inventory, Current (Tables)	6 Months Ended
	Jun. 30, 2019
Tables/Schedules
Schedule of Inventory, Current	June 30, 2019 December 31, 2018 Parts $ 128,030 $ 133,809 Work in progress 205,817 243,081 Finished goods 315,173 338,105 Total inventories $ 649,020 714,995

Note 4 - Stock Options_ Schedul

Note 4 - Stock Options: Schedule of Stock Options Roll Forward (Tables)	6 Months Ended
	Jun. 30, 2019
Tables/Schedules
Schedule of Stock Options Roll Forward	Number Outstanding Weighted-Average Exercise Price Per Share Weighted-Average Remaining Life (Years) Approximate Aggregate Intrinsic Value Outstanding and Exercisable at December 31, 2018 120,000 $ 0.40 Granted - - Expired - - Outstanding and Exercisable at June 30, 2019 120,000 $ 0.40 1.1 -

Note 5 - Revenue_ Revenue from

Note 5 - Revenue: Revenue from External Customers by Products and Services (Tables)	6 Months Ended
	Jun. 30, 2019
Tables/Schedules
Revenue from External Customers by Products and Services	2019 Sales 2019 %age of Total Sales 2018 Sales 2018 %age of Total Sales Domestic customer A 40,362 10% 128,202 27% Domestic customer B 39,569 10% 73,093 15% Domestic customer C 37,725 10% 55,211 12%

Note 6 - Leases_ Schedule of di

Note 6 - Leases: Schedule of distribution of lease expense (Tables)	6 Months Ended
	Jun. 30, 2019
Tables/Schedules
Schedule of distribution of lease expense	Three Months ended June 30, 2019 Three Months ended June 30, 2018 Six Months ended June 30, 2019 Six Months ended June 30, 2018 Cost of sales $ 3,325 $ 3,267 $ 6,650 $ 6,534 General and administrative 3,325 3,267 6,650 6,534 Research and development 3,325 3,267 6,650 6,534 Marketing and sales 6,652 6,534 13,304 13,068 Total $ 16,627 $ 16,335 $ 33,254 $ 32,670

Note 6 - Leases_ Future Less Pa

Note 6 - Leases: Future Less Payments (Tables)	6 Months Ended
	Jun. 30, 2019
Tables/Schedules
Future Less Payments	For the 12 months ended June 30, 2019 $ 29,728 2020 44,981 Total 74,709 Less imputed interest (8,927) Net lease liability 65,782 Current portion 52,569 Long-term portion $ 13,214

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2019
Details
New Accounting Pronouncements and Changes in Accounting Principles	In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02 Leases (Topic 842). The update modifies the classification criteria and requires lessees to recognize the assets and liabilities on the balance sheet for most leases. The update is effective for fiscal years beginning after December 15, 2018, with early adoption permitted.  The Company adopted the update on January 1, 2019.   Upon implementation of the new guidance, the Company recognized a liability and right-of-use asset of $91,637 as of January 1, 2019 for its one operating lease.  The Company elected the transition option to apply the new guidance at the effective date without adjusting comparative periods presented. (See Note 6).
Description of New Accounting Pronouncements Not yet Adopted	In August 2018, the FASB issued ASU No. 2018-13 Fair Value Measurement (Topic 820):  Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.  The update removes, modifies and makes additions to the disclosure requirements on fair value measurements.  The update is effective for fiscal years beginning after December 15, 2019, with early adoption permitted.  The Company is currently evaluating the impact of this update on our fair value measurement disclosures.

Note 2 - Inventories_ Schedul_2

Note 2 - Inventories: Schedule of Inventory, Current (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Details
Inventory, Parts and Components, Net of Reserves	$ 128,030	$ 133,809
Inventory, Work in Process, Gross	205,817	243,081
Inventory, Finished Goods, Gross	315,173	338,105
Inventories	$ 649,020	$ 714,995

Note 3 - Earnings (Loss) Per _2

Note 3 - Earnings (Loss) Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Details
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	120,000	120,000

Note 4 - Stock Options_ Sched_2

Note 4 - Stock Options: Schedule of Stock Options Roll Forward (Details)	Jun. 30, 2019USD ($)$ / sharesshares	Dec. 31, 2018$ / sharesshares
Details
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	120,000	120,000
Weighted Average Exercise Price | $ / shares	$ 0.40	$ 0.40
Weighted Average Remaining Life Years	1.1
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $	$ 0

Note 5 - Revenue (Details)

Note 5 - Revenue (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information, Description of Products and Services			The Company product revenue includes industrial wireless products and accessories such as antennas, power supplies and cable assemblies. The Company also provides direct site support and engineering services to customers, such as repair and upgrade of its products.
Sales, net	$ 395,262	$ 471,914	$ 769,428	$ 779,741
Customer A	$ 40,362	$ 128,202	$ 122,503	$ 197,044
Customer A	10.00%	27.00%	16.00%	25.00%
Customer B	$ 39,569	$ 73,093	$ 79,950
Customer B	10.00%	15.00%	10.00%
Sales Order Backlog			$ 3,307	$ 425
Manufactured Product, Other
Sales, net			367,062	463,629
Technology Service
Sales, net	$ 28,200	$ 8,285	32,977	10,548
Increase Decrease Product Sales			$ 736,451	$ 769,193

Note 5 - Revenue_ Revenue fro_2

Note 5 - Revenue: Revenue from External Customers by Products and Services (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Details
Customer A	$ 40,362	$ 128,202	$ 122,503	$ 197,044
Customer A	10.00%	27.00%	16.00%	25.00%
Customer B	$ 39,569	$ 73,093	$ 79,950
Customer B	10.00%	15.00%	10.00%
Customer C	$ 37,725	$ 55,211
Customer C	10.00%	12.00%

Note 6 - Leases (Details)

Note 6 - Leases (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Details
Description of operating lease			The Company leases its facilities from a port authority for $5,542 per month for three years, expiring in September 2020, with annual increases based upon the Consumer Price Index.
Operating lease expense distributed	$ 16,627	$ 16,335	$ 33,254	$ 32,670

Note 6 - Leases_ Schedule of _2

Note 6 - Leases: Schedule of distribution of lease expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Details
Cost of sales, lease expense	$ 3,325	$ 3,267		$ 6,534
Cost of sales, general and administrative	3,325	3,267		6,534
Cost of sales, research and development	3,325	3,267		6,534
Cost of sales, marketing and sales	6,652	6,534		13,068
Operating lease expense distributied	$ 16,627	$ 16,335	$ 33,254	$ 32,670

Note 6 - Leases_ Future Less _2

Note 6 - Leases: Future Less Payments (Details) - USD ($)		Jun. 30, 2019	Dec. 31, 2018
Details
Operating Leases, Future Minimum Payments Due, Next Twelve Months		$ 29,728
Operating Leases, Future Minimum Payments, Due in Two Years		44,981
Operating Leases, Future Minimum Payments Due		74,709
Less imputed interest		(8,927)
Right to use - Lease, net of amortization	[1]	65,782	$ 0
Lease liability, current portion	[1]	52,569	0
Lease liability, long-term portion payable	[1]	$ 13,214	$ 0
[1]	NOTE 6

Note 7 - Stock Repurchase (Deta

Note 7 - Stock Repurchase (Details) - USD ($)	3 Months Ended	6 Months Ended	42 Months Ended
	Mar. 31, 2019	Jun. 30, 2019	Jun. 30, 2019	Jan. 13, 2016
Details
Stock repurchase program		On January 13, 2016, the Company’s Board of Directors approved a resolution authorizing the repurchase of up to $100,000 of the Company’s common stock at the price of $0.38 per share. The Company’s share repurchase program does not obligate it to acquire any specific number of shares. On March 2, 2016, the Company’s Board of Director approved a resolution authorizing the repurchase of an additional $150,000 of the Company’s common stock at the price of $0.38 per share.
Common stock repurchased		39,246	212,165
Common stock repurchased	$ 14,920	$ 14,920	$ 80,622
Original Share Repurchase Authorized, Amount Remaining		$ 169,378	$ 169,378
Original Share Repurchase Authorized				$ 250,000