Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 1-May-14 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'RELIV INTERNATIONAL INC | ' |
Entity Central Index Key | '0000768710 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Trading Symbol | 'RELV | ' |
Entity Common Stock, Shares Outstanding | ' | 12,665,632 |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Document Fiscal Year Focus | '2014 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Current assets: | ' | ' |
Cash and cash equivalents | $4,882,528 | $6,656,798 |
Accounts receivable, less allowances of $29,900 in 2014 and $31,800 in 2013 | 138,282 | 148,630 |
Accounts and note due from employees and distributors | 138,959 | 129,852 |
Inventories | ' | ' |
Finished goods | 3,711,981 | 3,516,079 |
Raw materials | 1,887,216 | 1,501,522 |
Sales aids and promotional materials | 186,434 | 197,089 |
Total inventories | 5,785,631 | 5,214,690 |
Refundable income taxes | 35,857 | 0 |
Prepaid expenses and other current assets | 1,180,444 | 697,099 |
Deferred income taxes | 98,000 | 309,000 |
Total current assets | 12,259,701 | 13,156,069 |
Other assets | 401,006 | 277,770 |
Cash surrender value of life insurance | 2,678,095 | 2,403,763 |
Note receivable due from distributor | 1,806,156 | 1,829,827 |
Intangible assets, net | 3,128,371 | 3,195,903 |
Property, plant and equipment: | ' | ' |
Land and land improvements | 883,563 | 883,563 |
Building | 9,954,087 | 9,945,187 |
Machinery & equipment | 3,789,478 | 3,785,949 |
Office equipment | 1,240,814 | 1,236,303 |
Computer equipment & software | 2,725,927 | 2,690,294 |
Property, plant, and equipment | 18,593,869 | 18,541,296 |
Less: Accumulated depreciation | 11,978,754 | 11,805,877 |
Net property, plant and equipment | 6,615,115 | 6,735,419 |
Total assets | 26,888,444 | 27,598,751 |
Accounts payable and accrued expenses: | ' | ' |
Trade accounts payable and other accrued expenses | 3,122,131 | 2,968,814 |
Distributors' commissions payable | 2,025,180 | 2,033,727 |
Sales taxes payable | 211,375 | 311,049 |
Payroll and payroll taxes payable | 313,785 | 555,193 |
Total accounts payable and accrued expenses | 5,672,471 | 5,868,783 |
Income taxes payable | 0 | 199,558 |
Current maturities of long-term debt | 647,423 | 581,004 |
Total current liabilities | 6,319,894 | 6,649,345 |
Noncurrent liabilities: | ' | ' |
Revolving line of credit | 0 | 1,150,000 |
Long-term debt, less current maturities | 3,608,944 | 2,631,607 |
Deferred income taxes | 0 | 127,000 |
Other noncurrent liabilities | 935,282 | 910,327 |
Total noncurrent liabilities | 4,544,226 | 4,818,934 |
Stockholders' equity: | ' | ' |
Preferred stock, par value $.001 per share; 3,000,000 shares authorized; -0- shares issued and outstanding in 2014 and 2013 | 0 | 0 |
Common stock, par value $.001 per share; 30,000,000 authorized; 14,519,605 shares issued and 12,665,632 shares outstanding as of 3/31/2014; 14,519,605 shares issued and 12,665,632 shares outstanding as of 12/31/2013 | 14,520 | 14,520 |
Additional paid-in capital | 30,113,128 | 30,101,069 |
Accumulated deficit | -8,310,114 | -8,159,164 |
Accumulated other comprehensive loss: | ' | ' |
Foreign currency translation adjustment | -454,650 | -487,393 |
Treasury stock | -5,338,560 | -5,338,560 |
Total stockholders' equity | 16,024,324 | 16,130,472 |
Total liabilities and stockholders' equity | $26,888,444 | $27,598,751 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets [Parenthetical] (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Allowance for accounts receivable (in dollars) | $29,900 | $31,800 |
Preferred stock, par value (in dollars per share) | $0.00 | $0.00 |
Preferred stock, shares authorized | 3,000,000 | 3,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 30,000,000 | 30,000,000 |
Common stock, shares, issued | 14,519,605 | 14,519,605 |
Common stock, shares, outstanding | 12,665,632 | 12,665,632 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Net Income (Loss) and Comprehensive Income (Loss) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Product sales | $13,305,781 | $16,889,458 |
Handling & freight income | 1,159,108 | 1,967,806 |
Net sales | 14,464,889 | 18,857,264 |
Costs and expenses: | ' | ' |
Cost of products sold | 2,886,851 | 3,903,858 |
Distributor royalties and commissions | 5,207,287 | 7,003,204 |
Selling, general and administrative | 6,540,867 | 7,515,488 |
Total costs and expenses | 14,635,005 | 18,422,550 |
Income (loss) from operations | -170,116 | 434,714 |
Other income (expense): | ' | ' |
Interest income | 36,124 | 37,164 |
Interest expense | -24,268 | -17,502 |
Other income / (expense) | -24,690 | -26,575 |
Income (loss) before income taxes | -182,950 | 427,801 |
Provision (benefit) for income taxes | -32,000 | 233,000 |
Net income (loss) | -150,950 | 194,801 |
Other comprehensive income (loss): | ' | ' |
Foreign currency translation adjustment | 32,743 | -16,773 |
Comprehensive income (loss) | ($118,207) | $178,028 |
Earnings (loss) per common share - Basic (in dollars per share) | ($0.01) | $0.02 |
Weighted average shares (in shares) | 12,666,000 | 12,620,000 |
Earnings (loss) per common share - Diluted (in dollars per share) | ($0.01) | $0.02 |
Weighted average shares (in shares) | 12,666,000 | 12,708,000 |
Cash dividends declared per common share (in dollars per share) | $0 | $0 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Operating activities: | ' | ' |
Net income (loss) | ($150,950) | $194,801 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization | 242,067 | 217,555 |
Stock-based compensation | 12,059 | 11,661 |
Deferred income taxes | -32,000 | -43,000 |
Foreign currency transaction (gain)/loss | 28,597 | 20,262 |
(Increase) decrease in accounts receivable | 3,062 | 83,621 |
(Increase) decrease in inventories | -563,699 | -138,307 |
(Increase) decrease in refundable income taxes | -35,857 | 10,632 |
(Increase) decrease in prepaid expenses and other current assets | -481,735 | -739,779 |
(Increase) decrease in other assets | -7,236 | -17,684 |
Increase (decrease) in income taxes payable | -199,558 | 155,809 |
Increase (decrease) in accounts payable & accrued expenses and other noncurrent liabilities | -178,684 | 853,337 |
Net cash provided by (used in) operating activities | -1,363,934 | 608,908 |
Investing activities: | ' | ' |
Proceeds from the sale of property, plant and equipment | 87 | 0 |
Purchase of property, plant and equipment | -53,831 | -61,457 |
Payments received on distributor note receivable | 22,295 | 14,035 |
Payment of life insurance premiums | -274,333 | -259,726 |
Net cash used in investing activities | -305,782 | -307,148 |
Financing activities: | ' | ' |
Principal payments on long-term borrowings | -110,190 | -212,457 |
Net cash used in financing activities | -110,190 | -212,457 |
Effect of exchange rate changes on cash and cash equivalents | 5,636 | -25,060 |
Increase (decrease) in cash and cash equivalents | -1,774,270 | 64,243 |
Cash and cash equivalents at beginning of period | 6,656,798 | 5,801,042 |
Cash and cash equivalents at end of period | $4,882,528 | $5,865,285 |
Accounting_Policies
Accounting Policies | 3 Months Ended | ||
Mar. 31, 2014 | |||
Accounting Policies [Abstract] | ' | ||
Business Description and Accounting Policies [Text Block] | ' | ||
Note 1-- | Accounting Policies | ||
Basis of Presentation | |||
The accompanying unaudited condensed consolidated financial statements and notes thereto have been prepared in accordance with the instructions to Form 10-Q and reflect all adjustments (which primarily include normal recurring accruals) which management believes are necessary to present fairly the financial position, results of operations and cash flows. These statements, however, do not include all information and footnotes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with accounting principles generally accepted in the United States. Interim results may not necessarily be indicative of results that may be expected for any other interim period or for the year as a whole. These financial statements should be read in conjunction with the audited consolidated financial statements and footnotes included in the annual report on Form 10-K for the year ended December 31, 2013, filed March 25, 2014 with the Securities and Exchange Commission. | |||
Basic_and_Diluted_Earnings_Los
Basic and Diluted Earnings (Loss) per Share | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Earnings Per Share [Text Block] | ' | |||||||
Note 2-- | Basic and Diluted Earnings (Loss) per Share | |||||||
Basic earnings (loss) per common share are computed using the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share are computed using the weighted average number of common shares and potential dilutive common shares that were outstanding during the period. Potential dilutive common shares consist of outstanding stock options, outstanding stock warrants, and convertible preferred stock. | ||||||||
The following table sets forth the computation of basic and diluted earnings (loss) per share: | ||||||||
Three months ended March 31 | ||||||||
2014 | 2013 | |||||||
Numerator: | ||||||||
Net income (loss) | $ | -150,950 | $ | 194,801 | ||||
Denominator: | ||||||||
Denominator for basic earnings (loss) per | ||||||||
share--weighted average shares | 12,666,000 | 12,620,000 | ||||||
Dilutive effect of employee stock options | ||||||||
and other warrants | - | 88,000 | ||||||
Denominator for diluted earnings (loss) per | ||||||||
share--adjusted weighted average shares | 12,666,000 | 12,708,000 | ||||||
Basic earnings (loss) per share | $ | -0.01 | $ | 0.02 | ||||
Diluted earnings (loss) per share | $ | -0.01 | $ | 0.02 | ||||
Options and warrants to purchase 1,502,987 and 1,287,125 shares of common stock for the three months ended March 31, 2014 and 2013, respectively, were not included in the denominator for diluted earnings (loss) per share because their effect would be antidilutive or because the shares were deemed contingently issuable. | ||||||||
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
Note 3-- | Fair Value of Financial Instruments | ||||||||||||||||
Fair value can be measured using valuation techniques such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). Accounting standards utilize a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those levels: | |||||||||||||||||
Level 1: | Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. | ||||||||||||||||
Level 2: | Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets or similar assets or liabilities in markets that are not active. | ||||||||||||||||
Level 3: | Unobservable inputs that reflect the reporting entity's own assumptions. | ||||||||||||||||
The carrying amount and fair value of the Company's financial instruments are approximately as follows: | |||||||||||||||||
Description | Carrying Value | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
31-Mar-14 | |||||||||||||||||
Long-term debt | $ | 4,256,367 | $ | 4,256,367 | - | $ | 4,256,367 | - | |||||||||
Note receivable | 1,898,750 | 2,306,000 | - | 2,306,000 | - | ||||||||||||
Marketable securities (a) | 285,000 | 285,000 | $ | 285,000 | - | - | |||||||||||
December 31, 2013 | |||||||||||||||||
Long-term debt | $ | 4,362,611 | $ | 4,362,611 | - | $ | 4,362,611 | - | |||||||||
Note receivable | 1,921,046 | 2,365,000 | - | 2,365,000 | - | ||||||||||||
Marketable securities (a) | 278,000 | 278,000 | $ | 278,000 | - | - | |||||||||||
(a) | Representing assets of the Company's Supplemental Executive Retirement Plan '(trading securities). Presented within Other Assets in the condensed consolidated balance sheets. | ||||||||||||||||
LongTerm_Incentive_Compensatio
Long-Term Incentive Compensation Plan | 3 Months Ended | ||
Mar. 31, 2014 | |||
Compensation Related Costs [Abstract] | ' | ||
Compensation Related Costs, General [Text Block] | ' | ||
Note 4-- | Long-Term Incentive Compensation Plan | ||
In July 2010, the Company’s Reliv Europe subsidiary entered into a long-term performance-based incentive compensation agreement with the subsidiary’s senior managers. The valuation of the compensation agreement is an EBITDA-based formula derived from the subsidiary’s financial performance and vests in 20% annual increments which began in April 2011. The amount of the incentive, if any, varies in accordance with a 24-month look-back of the subsidiary’s financial performance and the vesting provisions. Upon initial vesting, a manager may elect to exercise his/her put option to receive in cash some or all of his/her respective share of the incentive. Beginning April 2015, the Company may exercise a call option on one or more of the manager’s incentive amount; redeeming such amount in cash or a combination of cash and the Company’s common stock, depending upon the amount of the vested incentive. For the three months ended March 31, 2014 and 2013, compensation expense associated with this incentive plan was $(12,000) and $44,400, respectively, and is presented in Selling, General and Administrative in the accompanying condensed consolidated statements of net income (loss) and comprehensive income (loss). At March 31, 2014 and December 31, 2013, accrued compensation was $517,000 and $529,000, respectively, and was included in "Other Non-Current Liabilities" in the accompanying condensed consolidated balance sheets. | |||
Debt
Debt | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Long-term Debt [Text Block] | ' | |||||||
Note 5-- | Debt | |||||||
March 31 | December 31 | |||||||
2014 | 2013 | |||||||
Term loan | $ | 3,440,509 | $ | 2,400,697 | ||||
Revolving line of credit | - | 1,150,000 | ||||||
Obligation for acquisition of technology license, net | 815,858 | 811,914 | ||||||
4,256,367 | 4,362,611 | |||||||
Less current maturities | 647,423 | 581,004 | ||||||
Total long-term debt | $ | 3,608,944 | $ | 3,781,607 | ||||
Principal maturities of debt at March 31, 2014 are as follows: | ||||||||
Twelve months ending March 31, | ||||||||
2015 | $ | 647,423 | ||||||
2016 | 697,423 | |||||||
2017 | 2,695,663 | |||||||
2018 | 215,858 | |||||||
2019 | - | |||||||
Thereafter | - | |||||||
$ | 4,256,367 | |||||||
On February 28, 2014, the Company and its primary lender amended the revolving line of credit agreement and the term loan agreement. As part of the amendment, the $5 million revolving line of credit agreement has been extended to July 1, 2016 and the outstanding revolving loan balance of $1.15 million has been re-financed into the term loan balance. Borrowings, if any, under the new revolver accrue interest at a floating interest rate based on the 30-day LIBOR plus 1.85%. | ||||||||
The 2014 re-financed term loan is for a period of twenty-eight months with interest accruing at a floating interest rate based on the 30-day LIBOR plus 2%. The total borrowing on the re-financed term loan consisted of the outstanding balance of the previous term loan plus the February 28, 2014 revolving line of credit balance of $1.15 million. Monthly term loan payments consist of principal of $41,452 plus interest with a balloon payment for the outstanding balance due and payable on July 1, 2016. At March 31, 2014, the term loan's interest rate was 2.1555%. | ||||||||
The term loan agreement and the revolving line of credit agreement are secured by all tangible and intangible assets of the Company and also by a mortgage on the real estate of the Company's headquarters. These agreements also include loan covenants requiring the Company to maintain net tangible worth of not less than $11 million, and a fixed coverage ratio under which EBITDA adjusted for certain non-cash expenses shall exceed fixed charges by a ratio of at least 1.15 to 1. Fixed charges, as defined, include unfinanced capital expenditures, dividends and other distributions, cash taxes paid, and principal and interest due on all debt obligations. At March 31, 2014, the Company was in compliance with its loan covenants. | ||||||||
Taxes
Taxes | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Income Tax Disclosure [Abstract] | ' | |||||||
Income Tax Disclosure [Text Block] | ' | |||||||
Note 6-- | Taxes | |||||||
The interim financial statement provision for income taxes (benefit) is different from the amounts computed by applying the United States federal statutory income tax rate of 34%. In summary, the reasons for these differences are as follows: | ||||||||
Three Months ended March 31 | ||||||||
2014 | 2013 | |||||||
Income taxes (benefit) at U.S. statutory rate | $ | -62,000 | $ | 145,000 | ||||
State income taxes, net of federal benefit | 18,000 | 33,000 | ||||||
Higher / (lower) effective taxes on earnings/losses | ||||||||
in certain foreign countries | 6,000 | 58,000 | ||||||
Foreign corporate income taxes | -5,000 | 5,000 | ||||||
Other, net | 11,000 | -8,000 | ||||||
$ | -32,000 | $ | 233,000 | |||||
One of the Company's foreign subsidiaries is presently under local country audit for alleged deficiencies (totaling approximately $800,000 plus interest at 20% per annum) in value-added tax (VAT) and withholding tax for the years 2004 through 2006. The Company, in consultation with its legal counsel, believes that there are strong legal grounds that it is not liable to pay the majority of the alleged tax deficiencies. As of December 31, 2010, management estimated and reserved approximately $185,000 in taxes and interest for resolution of this matter and recorded this amount within Selling, General, and Administrative expense in the 2010 Consolidated Statement of Income. In 2011, the Company made good faith deposits to the local tax authority under the tax agency's administrative judicial resolution process. As of March 31, 2014 and December 31, 2013, management's estimated reserve (net of deposits) for this matter is approximately $95,000. There has been no change in this matter during the first three months of 2014. | ||||||||
Basic_and_Diluted_Earnings_Los1
Basic and Diluted Earnings (Loss) per Share (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | ' | |||||||
The following table sets forth the computation of basic and diluted earnings (loss) per share: | ||||||||
Three months ended March 31 | ||||||||
2014 | 2013 | |||||||
Numerator: | ||||||||
Net income (loss) | $ | -150,950 | $ | 194,801 | ||||
Denominator: | ||||||||
Denominator for basic earnings (loss) per | ||||||||
share--weighted average shares | 12,666,000 | 12,620,000 | ||||||
Dilutive effect of employee stock options | ||||||||
and other warrants | - | 88,000 | ||||||
Denominator for diluted earnings (loss) per | ||||||||
share--adjusted weighted average shares | 12,666,000 | 12,708,000 | ||||||
Basic earnings (loss) per share | $ | -0.01 | $ | 0.02 | ||||
Diluted earnings (loss) per share | $ | -0.01 | $ | 0.02 | ||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||
The carrying amount and fair value of the Company's financial instruments are approximately as follows: | |||||||||||||||||
Description | Carrying Value | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
31-Mar-14 | |||||||||||||||||
Long-term debt | $ | 4,256,367 | $ | 4,256,367 | - | $ | 4,256,367 | - | |||||||||
Note receivable | 1,898,750 | 2,306,000 | - | 2,306,000 | - | ||||||||||||
Marketable securities (a) | 285,000 | 285,000 | $ | 285,000 | - | - | |||||||||||
December 31, 2013 | |||||||||||||||||
Long-term debt | $ | 4,362,611 | $ | 4,362,611 | - | $ | 4,362,611 | - | |||||||||
Note receivable | 1,921,046 | 2,365,000 | - | 2,365,000 | - | ||||||||||||
Marketable securities (a) | 278,000 | 278,000 | $ | 278,000 | - | - | |||||||||||
(a) | Representing assets of the Company's Supplemental Executive Retirement Plan '(trading securities). Presented within Other Assets in the condensed consolidated balance sheets. | ||||||||||||||||
Debt_Tables
Debt (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | |||||||
March 31 | December 31 | |||||||
2014 | 2013 | |||||||
Term loan | $ | 3,440,509 | $ | 2,400,697 | ||||
Revolving line of credit | - | 1,150,000 | ||||||
Obligation for acquisition of technology license, net | 815,858 | 811,914 | ||||||
4,256,367 | 4,362,611 | |||||||
Less current maturities | 647,423 | 581,004 | ||||||
Total long-term debt | $ | 3,608,944 | $ | 3,781,607 | ||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | |||||||
Principal maturities of debt at March 31, 2014 are as follows: | ||||||||
Twelve months ending March 31, | ||||||||
2015 | $ | 647,423 | ||||||
2016 | 697,423 | |||||||
2017 | 2,695,663 | |||||||
2018 | 215,858 | |||||||
2019 | - | |||||||
Thereafter | - | |||||||
$ | 4,256,367 | |||||||
Taxes_Tables
Taxes (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Income Tax Disclosure [Abstract] | ' | |||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | |||||||
In summary, the reasons for these differences are as follows: | ||||||||
Three Months ended March 31 | ||||||||
2014 | 2013 | |||||||
Income taxes (benefit) at U.S. statutory rate | $ | -62,000 | $ | 145,000 | ||||
State income taxes, net of federal benefit | 18,000 | 33,000 | ||||||
Higher / (lower) effective taxes on earnings/losses | ||||||||
in certain foreign countries | 6,000 | 58,000 | ||||||
Foreign corporate income taxes | -5,000 | 5,000 | ||||||
Other, net | 11,000 | -8,000 | ||||||
$ | -32,000 | $ | 233,000 | |||||
Basic_and_Diluted_Earnings_Los2
Basic and Diluted Earnings (Loss) per Share (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Numerator: | ' | ' |
Net income (loss) (in dollars) | ($150,950) | $194,801 |
Denominator: | ' | ' |
Denominator for basic earnings (loss) per share--weighted average shares | 12,666,000 | 12,620,000 |
Dilutive effect of employee stock options and other warrants | 0 | 88,000 |
Denominator for diluted earnings (loss) per share--adjusted weighted average shares | 12,666,000 | 12,708,000 |
Basic earnings (loss) per share (in dollars per share) | ($0.01) | $0.02 |
Diluted earnings (loss) per share (in dollars per share) | ($0.01) | $0.02 |
Basic_and_Diluted_Earnings_Los3
Basic and Diluted Earnings (Loss) per Share (Details Textual) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Basic And Diluted Earnings Loss Per Share [Line Items] | ' | ' |
Antidilutive Securities Excluded From Computation Of Earnings Per Share, Amount | 1,502,987 | 1,287,125 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Long-term debt, Carrying Value | $4,256,367 | $4,362,611 | ||
Note receivable, Carrying Value | 1,898,750 | 1,921,046 | ||
Marketable securities, Carrying Value | 285,000 | [1] | 278,000 | [1] |
Long-term debt, Fair Value | 4,256,367 | 4,362,611 | ||
Note receivable, Fair Value | 2,306,000 | 2,365,000 | ||
Marketable securities, Fair Value | 285,000 | [1] | 278,000 | [1] |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Long-term debt, Fair Value | 0 | 0 | ||
Note receivable, Fair Value | 0 | 0 | ||
Marketable securities, Fair Value | 285,000 | [1] | 278,000 | [1] |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Long-term debt, Fair Value | 4,256,367 | 4,362,611 | ||
Note receivable, Fair Value | 2,306,000 | 2,365,000 | ||
Marketable securities, Fair Value | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Long-term debt, Fair Value | 0 | 0 | ||
Note receivable, Fair Value | 0 | 0 | ||
Marketable securities, Fair Value | $0 | [1] | $0 | [1] |
[1] | Representing assets of the Company's Supplemental Executive Retirement Plan '(trading securities). Presented within Other Assets in the condensed consolidated balance sheets. |
LongTerm_Incentive_Compensatio1
Long-Term Incentive Compensation Plan (Details Textuals) (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Other Liabilities, Noncurrent | $935,282 | ' | ' | $910,327 |
Incentive Compensation Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Performance Based Incentive Compensation Vest Based On Annual Increment Percentage | ' | ' | 20.00% | ' |
Other Liabilities, Noncurrent | 517,000 | ' | ' | 529,000 |
Deferred Compensation Arrangement with Individual, Compensation Expense | ($12,000) | $44,400 | ' | ' |
Debt_Details
Debt (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ' | ' |
Term loan | $3,440,509 | $2,400,697 |
Revolving line of credit | 0 | 1,150,000 |
Long-term Debt | 4,256,367 | 4,362,611 |
Less current maturities | 647,423 | 581,004 |
Total long-term debt | 3,608,944 | 2,631,607 |
Obligation For Purchase Of Technology License [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Notes Payable, Total | $815,858 | $811,914 |
Debt_Details_1
Debt (Details 1) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Twelve months ending March 31, | ' | ' |
2015 | $647,423 | ' |
2016 | 697,423 | ' |
2017 | 2,695,663 | ' |
2018 | 215,858 | ' |
2019 | 0 | ' |
Thereafter | 0 | ' |
Long-term Debt | $4,256,367 | $4,362,611 |
Debt_Details_Textual
Debt (Details Textual) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Dec. 31, 2013 | |
Debt Instrument [Line Items] | ' | ' |
Long Term Loan Maturity Period | 'twenty-eight months | ' |
Debt Instrument, Restrictive Covenants | 'These agreements also include loan covenants requiring the Company to maintain net tangible worth of not less than $11 million, and a fixed coverage ratio under which EBITDA adjusted for certain non-cash expenses shall exceed fixed charges by a ratio of at least 1.15 to 1 | ' |
Line of Credit Facility, Amount Outstanding | $0 | $1,150,000 |
Revolving Credit Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | 5,000,000 | ' |
Line of Credit Facility, Amount Outstanding | 0 | 1,150,000 |
Line of Credit Facility, Interest Rate Description | 'a floating interest rate based on the 30-day LIBOR plus 1.85% | ' |
Line of Credit Facility, Expiration Date | 1-Jul-16 | ' |
Secured Debt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt Instrument, Description Of Variable Rate Basis | 'floating interest rate based on the 30-day LIBOR plus 2%. | ' |
Debt Instrument, Maturity Date | 1-Jul-16 | ' |
Debt Instrument, Interest Rate At Period End | 2.16% | ' |
Debt Instrument, Frequency Of Periodic Payment | 'Monthly | ' |
Debt Instrument, Periodic Payment | $41,452 | ' |
Taxes_Details
Taxes (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Taxes [Line Items] | ' | ' |
Income taxes (benefit) at U.S. statutory rate | ($62,000) | $145,000 |
State income taxes, net of federal benefit | 18,000 | 33,000 |
Higher / (lower) effective taxes on earnings/losses in certain foreign countries | 6,000 | 58,000 |
Foreign corporate income taxes | -5,000 | 5,000 |
Other, net | 11,000 | -8,000 |
Income Tax Expense (Benefit), Total | ($32,000) | $233,000 |
Taxes_Details_Textual
Taxes (Details Textual) (USD $) | 3 Months Ended | 12 Months Ended | 36 Months Ended | |
Mar. 31, 2014 | Dec. 31, 2010 | Dec. 31, 2006 | Dec. 31, 2013 | |
Taxes [Line Items] | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation, Percent, Total | 34.00% | ' | ' | ' |
Vat And Withholding Taxes | ' | ' | $800,000 | ' |
Interest Penalty Percentage | ' | ' | 20.00% | ' |
Selling, General and Administrative Expense | ' | 185,000 | ' | ' |
Management Estimated Reserve For Tax | $95,000 | ' | ' | $95,000 |