Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 03, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | RELIV INTERNATIONAL INC | |
Entity Central Index Key | 768,710 | |
Trading Symbol | relv | |
Current Fiscal Year End Date | --12-31 | |
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) | 1,845,160 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 2,465,411 | $ 3,606,817 |
Accounts receivable, less allowances of $25,800 in 2017 and $26,700 in 2016 | 33,705 | 126,113 |
Accounts and note due from employees and distributors | 138,684 | 139,931 |
Inventories | ||
Finished goods | 2,702,561 | 2,629,541 |
Raw materials | 2,035,138 | 1,728,136 |
Sales aids and promotional materials | 139,895 | 130,153 |
Total inventories | 4,877,594 | 4,487,830 |
Refundable income taxes | 48,247 | 97,194 |
Prepaid expenses and other current assets | 500,458 | 474,183 |
Total current assets | 8,064,099 | 8,932,068 |
Other assets | 335,711 | 305,137 |
Cash surrender value of life insurance | 3,056,387 | 2,965,981 |
Note receivable due from distributor | 1,434,739 | 1,521,005 |
Deferred income taxes | 535,000 | 487,000 |
Intangible assets, net | 2,230,745 | 2,400,234 |
Property, plant and equipment: | ||
Land and land improvements | 905,190 | 905,190 |
Building | 9,943,531 | 9,943,512 |
Machinery & equipment | 4,707,262 | 4,329,329 |
Office equipment | 1,181,443 | 1,203,868 |
Computer equipment & software | 2,250,209 | 2,218,766 |
18,987,635 | 18,600,665 | |
Less: Accumulated depreciation | 13,189,768 | 12,746,363 |
Net property, plant and equipment | 5,797,867 | 5,854,302 |
Total assets | 21,454,548 | 22,465,727 |
Accounts payable and accrued expenses: | ||
Trade accounts payable and other accrued expenses | 1,991,902 | 2,352,692 |
Distributors' commissions payable | 1,144,612 | 1,402,370 |
Sales taxes payable | 175,188 | 234,153 |
Payroll and payroll taxes payable | 298,017 | 245,090 |
Total accounts payable and accrued expenses | 3,609,719 | 4,234,305 |
Income taxes payable | 26,950 | |
Current portion of long-term debt | 2,626,661 | 389,096 |
Total current liabilities | 6,263,330 | 4,623,401 |
Noncurrent liabilities: | ||
Long-term debt, less current portion | 2,518,341 | |
Other noncurrent liabilities | 432,389 | 409,813 |
Total noncurrent liabilities | 432,389 | 2,928,154 |
Stockholders' equity: | ||
Preferred stock, par value $.001 per share; 500,000 shares authorized; -0- shares issued and outstanding in 2017 and 2016 | 0 | 0 |
Common stock, par value $.001 per share; 5,000,000 authorized; 2,110,013 shares issued and 1,845,160 shares outstanding as of 9/30/2017; 2,110,013 shares issued and 1,845,160 shares outstanding as of 12/31/2016 | 2,110 | 2,110 |
Additional paid-in capital | 30,590,476 | 30,565,144 |
Accumulated deficit | (9,599,292) | (9,284,317) |
Accumulated other comprehensive loss: | ||
Foreign currency translation adjustment | (895,905) | (1,030,205) |
Treasury stock | (5,338,560) | (5,338,560) |
Total stockholders' equity | 14,758,829 | 14,914,172 |
Total liabilities and stockholders' equity | $ 21,454,548 | $ 22,465,727 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
Accounts receivable, allowances | $ 25,800 | $ 26,700 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 500,000 | 500,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Common stock, shares issued (in shares) | 2,110,013 | 2,110,013 |
Common stock, shares outstanding (in shares) | 1,845,160 | 1,845,160 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Net Income (Loss) and Comprehensive Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Product sales | $ 8,385,999 | $ 9,972,547 | $ 29,479,924 | $ 32,181,585 |
Handling & freight income | 683,324 | 812,868 | 2,373,809 | 2,693,602 |
Net sales | 9,069,323 | 10,785,415 | 31,853,733 | 34,875,187 |
Costs and expenses: | ||||
Cost of products sold | 1,949,670 | 2,214,633 | 7,113,647 | 7,729,508 |
Distributor royalties and commissions | 3,199,596 | 3,799,791 | 11,252,922 | 12,345,171 |
Selling, general and administrative | 4,253,675 | 4,737,305 | 13,811,814 | 15,887,901 |
Total costs and expenses | 9,402,941 | 10,751,729 | 32,178,383 | 35,962,580 |
Income (loss) from operations | (333,618) | 33,686 | (324,650) | (1,087,393) |
Other income (expense): | ||||
Interest income | 25,277 | 26,199 | 76,630 | 80,689 |
Interest expense | (27,183) | (28,982) | (79,472) | (82,161) |
Other income / (expense) | (4,579) | 41,575 | 40,517 | 226,519 |
Income (loss) before income taxes | (340,103) | 72,478 | (286,975) | (862,346) |
Provision (benefit) for income taxes | (21,000) | (62,000) | 28,000 | 35,000 |
Net income (loss) | (319,103) | 134,478 | (314,975) | (897,346) |
Other comprehensive income (loss): | ||||
Foreign currency translation adjustment | 43,666 | (74,503) | 134,300 | (296,116) |
Comprehensive income (loss) | $ (275,437) | $ 59,975 | $ (180,675) | $ (1,193,462) |
Earnings (loss) per common share - Basic (in dollars per share) | $ (0.17) | $ 0.07 | $ (0.17) | $ (0.49) |
Weighted average shares (in shares) | 1,845,000 | 1,846,000 | 1,845,000 | 1,846,000 |
Earnings (loss) per common share - Diluted (in dollars per share) | $ (0.17) | $ 0.07 | $ (0.17) | $ (0.49) |
Weighted average shares (in shares) | 1,845,000 | 1,846,000 | 1,845,000 | 1,846,000 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Operating activities: | ||
Net loss | $ (314,975) | $ (897,346) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 653,625 | 734,763 |
Stock-based compensation | 25,332 | 52,083 |
Non-cash life insurance policy accretion | (90,406) | (87,732) |
(Gain) loss on sale of property, plant and equipment | (8,906) | |
Deferred income taxes | (6,000) | 27,000 |
Foreign currency transaction (gain) loss | (29,299) | (191,091) |
(Increase) decrease in accounts receivable and accounts due from employees and distributors | 98,634 | 81,571 |
(Increase) decrease in inventories | (313,382) | 868,287 |
(Increase) decrease in refundable income taxes | 49,500 | (2,153) |
(Increase) decrease in prepaid expenses and other current assets | (21,418) | (71,431) |
(Increase) decrease in other assets | (30,196) | (4,180) |
Increase (decrease) in income taxes payable | 26,950 | |
Increase (decrease) in accounts payable & accrued expenses and other noncurrent liabilities | (632,607) | 253,012 |
Net cash provided by (used in) operating activities | (593,148) | 762,783 |
Investing activities: | ||
Purchase of property, plant and equipment | (430,083) | (18,686) |
Proceeds from the sale of property, plant and equipment | 13,001 | 912 |
Payments received on distributor note receivable | 81,254 | 76,534 |
Net cash provided by (used in) investing activities | (335,828) | 58,760 |
Financing activities: | ||
Principal payments on long-term borrowings | (282,496) | (904,461) |
Net cash used in financing activities | (282,496) | (904,461) |
Effect of exchange rate changes on cash and cash equivalents | 70,066 | (9,337) |
Increase (decrease) in cash and cash equivalents | (1,141,406) | (92,255) |
Cash and cash equivalents at beginning of period | 3,606,817 | 3,262,263 |
Cash and cash equivalents at end of period | $ 2,465,411 | $ 3,170,008 |
Note 1 - Accounting Policies
Note 1 - Accounting Policies | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Significant 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 These statements, however, do not may not may 10 December 31, 2016, March 28, 2017 On October 4, 2016, 1 7 Each stockholder's percentage ownership and proportional voting power remained unchanged as a result of the reverse stock split. All applicable share data, per share amounts, and related information in these Condensed Consolidated Financial Statements and notes thereto have been adjusted retroactively to give effect to the 1 7 |
Note 2 - Basic and Diluted Earn
Note 2 - Basic and Diluted Earnings (Loss) Per Share | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 2 Basic and Diluted Earnings (Loss) per Share Basic earnings (loss) per common share is computed using the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is 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 September 30 Nine months ended September 30 2017 2016 2017 2016 Numerator: Net income (loss) $ (319,103 ) $ 134,478 $ (314,975 ) $ (897,346 ) Denominator: Denominator for basic earnings (loss) per 1,845,000 1,846,000 1,845,000 1,846,000 Dilutive effect of employee stock options and other warrants - - - - Denominator for diluted earnings (loss) per 1,845,000 1,846,000 1,845,000 1,846,000 Basic earnings (loss) per share $ (0.17 ) $ 0.07 $ (0.17 ) $ (0.49 ) Diluted earnings (loss) per share $ (0.17 ) $ 0.07 $ (0.17 ) $ (0.49 ) Options and warrants to purchase 146,715 three nine September 30, 2017, not Options and warrants to purchase 265,001 267,184 three nine September 30, 2016, not |
Note 3 - Fair Value of Financia
Note 3 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
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 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 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 September 30, 2017 Long-term debt $ 2,626,661 $ 2,626,661 - $ 2,626,661 - Note receivable 1,548,910 1,742,000 - 1,742,000 - Marketable securities 327,000 327,000 $ 327,000 - - December 31, 2016 Long-term debt $ 2,907,437 $ 2,907,437 - $ 2,907,437 - Note receivable 1,630,164 1,812,000 - 1,812,000 - Marketable securities 296,000 296,000 $ 296,000 - - Long-term debt : The fair value of the Company's term and revolver loans approximate carrying value as these loans were incurred within the past two thirty Note receivable : The Company's note receivable is a variable rate residential mortgage-based financial instrument. An average of published interest rate quotes for a fifteen Marketable securities : The assets (trading securities) of the Company's Supplemental Executive Retirement Plan are recorded at fair value on a recurring basis, and are presented within Other Assets in the consolidated balance sheets. The carrying value of other financial instruments, including cash, accounts receivable and accounts payable, and accrued liabilities approximate fair value due to their short maturities or variable-rate nature of their respective balances. |
Note 4 - Debt
Note 4 - Debt | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 4 Debt September 30 December 31 2017 2016 Term loan $ 2,626,661 $ 2,843,301 Notes payable - 64,136 2,626,661 2,907,437 Less current portion 2,626,661 389,096 Total long-term debt $ - $ 2,518,341 Effective September 30, 2015, $3.25 $3.5 These lending agreements replaced similar borrowings under agreements with the Company’s former primary lender. The $3.25 three ten $27,080 September 30, 2018. Accordingly, the outstanding term loan balance is presented as a current liability in the September 30, 2017 30 2.25% 3.48% September 30, 2017. The $3.5 September 30, 2015, 30 2.25% one Effective September 30, 2016, April 30, 2018. September 30, 2017, no October 2017, $500,000 Borrowings under the lending agreements are secured by all tangible and intangible assets of the Company, a whole life insurance policy on the life of the Company's Chief Executive Officer, and by a mortgage on the real estate of the Company's headquarters. The lending agreements include quarterly financial covenants requiring the Company to maintain net tangible worth of not $9.5 i) a cumulative minimum EBITDA requirement of $600,000 $800,000 September 30, 2017 December 31, 2017, $200,000 March 31, 2018. As defined, EBITDA equals the Company's consolidated net income for such period, before interest expense, income tax expense, depreciation and amortization, and management fees, and further adjusted to exclude any gain or loss on the sale of assets, other extraordinary gains or losses, and any one At September 30, 2017, The Company anticipates it will be able to refinance its term loan and renew its revolving line of credit with its current lender prior to the respective maturity dates of each agreement; however, there can be no Company management believes that the Company's cash on hand and its ability, if necessary, to borrow a significant portion of or liquidate the cash surrender value of the Company's key-man life insurance policy, will be sufficient to meet the Company's working capital requirements and debt service requirements for the next twelve |
Note 5 - Taxes
Note 5 - Taxes | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 5 Taxes The interim financial statement provision (benefit) for income taxes 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: Nine months ended September 30 2017 2016 Income taxes (benefit) at U.S. statutory rate $ (98,000 ) $ (293,000 ) Change in valuation allowance 201,000 363,000 State income taxes, net of federal benefit 11,000 20,000 Higher / (lower) effective taxes on earnings/losses in certain foreign countries (103,000 ) (50,000 ) Foreign corporate income taxes 28,000 66,000 Other, net (11,000 ) (71,000 ) $ 28,000 $ 35,000 For fiscal year 2016, second not 2016 2016 not Accordingly, the Company's full year 2016 $292,000 2016 From a U.S. tax perspective, for the nine September 30, 2017, 2017. One of the Company's foreign subsidiaries is presently under local country audit for alleged deficiencies (totaling approximately $800,000 20% 2004 2006. The Company, in consultation with its legal counsel, believes that there are strong legal grounds that it is not December 31, 2010, $185,000 2010 2011, September 30, 2017 December 31, 2016, $171,000 $158,000, no first nine 2017. |
Note 6 - Restructuring Activiti
Note 6 - Restructuring Activities - 2016 | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | Note 6 Restructuring Activities - 2016 In May 2016, 9% The total cost of this program, representing severance and benefits, was approximately $275,000, June 30, 2016. $1,100,000. At June 30, 2016, $47,000, third 2016. |
Note 7 - Recent Accounting Stan
Note 7 - Recent Accounting Standards | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Note 7 Recent Accounting Standards Adopted in 2017 In July 2015, No. 2015 11, Inventory (Topic 330 January 1, 2017. not In March 2016, No. 2016 09, Compensation - Stock Compensation (Topic 781 January 1, 2017. not Not In May 2014, No. 2014 09, Revenue from Contracts with Customers January 1, 2018. January 1, 2018, $350,000 $400,000; 2017 In February 2016, No. 2016 2, Leases (Topic 842 twelve December 15, 2018 not |
Note 2 - Basic and Diluted Ea13
Note 2 - Basic and Diluted Earnings (Loss) Per Share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended September 30 Nine months ended September 30 2017 2016 2017 2016 Numerator: Net income (loss) $ (319,103 ) $ 134,478 $ (314,975 ) $ (897,346 ) Denominator: Denominator for basic earnings (loss) per 1,845,000 1,846,000 1,845,000 1,846,000 Dilutive effect of employee stock options and other warrants - - - - Denominator for diluted earnings (loss) per 1,845,000 1,846,000 1,845,000 1,846,000 Basic earnings (loss) per share $ (0.17 ) $ 0.07 $ (0.17 ) $ (0.49 ) Diluted earnings (loss) per share $ (0.17 ) $ 0.07 $ (0.17 ) $ (0.49 ) |
Note 3 - Fair Value of Financ14
Note 3 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Description Carrying Value Fair Value Level 1 Level 2 Level 3 September 30, 2017 Long-term debt $ 2,626,661 $ 2,626,661 - $ 2,626,661 - Note receivable 1,548,910 1,742,000 - 1,742,000 - Marketable securities 327,000 327,000 $ 327,000 - - December 31, 2016 Long-term debt $ 2,907,437 $ 2,907,437 - $ 2,907,437 - Note receivable 1,630,164 1,812,000 - 1,812,000 - Marketable securities 296,000 296,000 $ 296,000 - - |
Note 4 - Debt (Tables)
Note 4 - Debt (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | September 30 December 31 2017 2016 Term loan $ 2,626,661 $ 2,843,301 Notes payable - 64,136 2,626,661 2,907,437 Less current portion 2,626,661 389,096 Total long-term debt $ - $ 2,518,341 |
Note 5 - Taxes (Tables)
Note 5 - Taxes (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Nine months ended September 30 2017 2016 Income taxes (benefit) at U.S. statutory rate $ (98,000 ) $ (293,000 ) Change in valuation allowance 201,000 363,000 State income taxes, net of federal benefit 11,000 20,000 Higher / (lower) effective taxes on earnings/losses in certain foreign countries (103,000 ) (50,000 ) Foreign corporate income taxes 28,000 66,000 Other, net (11,000 ) (71,000 ) $ 28,000 $ 35,000 |
Note 1 - Accounting Policies (D
Note 1 - Accounting Policies (Details Textual) | Oct. 04, 2016 |
Reverse Stock Split [Member] | |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 7 |
Note 2 - Basic and Diluted Ea18
Note 2 - Basic and Diluted Earnings (Loss) Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 146,715 | 265,001 | 146,715 | 267,184 |
Note 2 - Basic and Diluted Ea19
Note 2 - Basic and Diluted Earnings (Loss) Per Share - Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Net loss | $ (319,103) | $ 134,478 | $ (314,975) | $ (897,346) |
Denominator for basic earnings (loss) per share--weighted average shares (in shares) | 1,845,000 | 1,846,000 | 1,845,000 | 1,846,000 |
Dilutive effect of employee stock options and other warrants (in shares) | ||||
Denominator for diluted earnings (loss) per share--adjusted weighted average shares (in shares) | 1,845,000 | 1,846,000 | 1,845,000 | 1,846,000 |
Basic earnings (loss) per share (in dollars per share) | $ (0.17) | $ 0.07 | $ (0.17) | $ (0.49) |
Diluted earnings (loss) per share (in dollars per share) | $ (0.17) | $ 0.07 | $ (0.17) | $ (0.49) |
Note 3 - Fair Value of Financ20
Note 3 - Fair Value of Financial Instruments - Financial Instruments (Details) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
Long-term debt, carrying amount | $ 2,626,661 | $ 2,907,437 |
Long-term debt, fair value | 2,626,661 | 2,907,437 |
Note receivable, carrying amount | 1,548,910 | 1,630,164 |
Note receivable, fair value | 1,742,000 | 1,812,000 |
Marketable securities | 327,000 | 296,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Long-term debt, fair value | 0 | 0 |
Note receivable, fair value | 0 | 0 |
Marketable securities | 327,000 | 296,000 |
Fair Value, Inputs, Level 2 [Member] | ||
Long-term debt, fair value | 2,626,661 | 2,907,437 |
Note receivable, fair value | 1,742,000 | 1,812,000 |
Marketable securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Long-term debt, fair value | 0 | 0 |
Note receivable, fair value | 0 | 0 |
Marketable securities | $ 0 | $ 0 |
Note 4 - Debt (Details Textual)
Note 4 - Debt (Details Textual) - USD ($) | Sep. 30, 2015 | Oct. 31, 2017 | Mar. 31, 2018 | Sep. 30, 2017 | Dec. 31, 2017 |
Net Tangible Worth | $ 9,500,000 | ||||
Minimum EBITDA Requirement | 600,000 | ||||
Scenario, Forecast [Member] | |||||
Minimum EBITDA Requirement | $ 200,000 | $ 800,000 | |||
Revolving Credit Facility [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,500,000 | ||||
Debt Instrument, Term | 1 year | ||||
Long-term Line of Credit | $ 0 | ||||
Revolving Credit Facility [Member] | Subsequent Event [Member] | |||||
Proceeds from Lines of Credit | $ 500,000 | ||||
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | ||||
Term Loan [Member] | |||||
Debt Instrument, Face Amount | $ 3,250,000 | ||||
Debt Instrument, Term | 3 years | ||||
Debt Instrument, Periodic Payment, Principal | $ 27,080 | ||||
Debt Instrument, Interest Rate, Effective Percentage | 3.48% | ||||
Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% |
Note 4 - Debt - Summary of Debt
Note 4 - Debt - Summary of Debt (Details) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
Long-term debt | $ 2,626,661 | $ 2,907,437 |
Long-term debt | 2,626,661 | 2,907,437 |
Less current portion | 2,626,661 | 389,096 |
Total long-term debt | 2,518,341 | |
Term Loan [Member] | ||
Long-term debt | 2,626,661 | 2,843,301 |
Long-term debt | 2,626,661 | 2,843,301 |
Notes Payable, Other Payables [Member] | ||
Long-term debt | 64,136 | |
Long-term debt | $ 64,136 |
Note 5 - Taxes (Details Textual
Note 5 - Taxes (Details Textual) - USD ($) | 9 Months Ended | 12 Months Ended | 36 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2010 | Dec. 31, 2006 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | ||||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 201,000 | $ 363,000 | |||
VAT and Withholding Taxes | $ 800,000 | ||||
Interest Penalty Percentage | 20.00% | ||||
Reserve for Tax Deficiencies of Subsidiaries [Member] | |||||
Loss Contingency Accrual | $ 171,000 | $ 158,000 | |||
Selling, General and Administrative Expenses [Member] | Reserve for Tax Deficiencies of Subsidiaries [Member] | |||||
Loss Contingency Accrual, Period Increase (Decrease) | $ 185,000 | ||||
Operating Loss Carryforwards [Member] | |||||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 292,000 |
Note 5 - Taxes - Income Tax Rat
Note 5 - Taxes - Income Tax Rate Reconciliation (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Income taxes (benefit) at U.S. statutory rate | $ (98,000) | $ (293,000) | ||
Change in valuation allowance | 201,000 | 363,000 | ||
State income taxes, net of federal benefit | 11,000 | 20,000 | ||
Higher / (lower) effective taxes on earnings/losses in certain foreign countries | (103,000) | (50,000) | ||
Foreign corporate income taxes | 28,000 | 66,000 | ||
Other, net | (11,000) | (71,000) | ||
$ (21,000) | $ (62,000) | $ 28,000 | $ 35,000 |
Note 6 - Restructuring Activi25
Note 6 - Restructuring Activities - 2016 (Details Textual) - Employee Headcount Cost Reduction Program [Member] - USD ($) | 1 Months Ended | 3 Months Ended |
May 31, 2016 | Jun. 30, 2016 | |
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent | 9.00% | |
Severance Costs | $ 275,000 | |
Restructuring and Related Cost, Aggregate Annual Salaries of Positions Eliminated | $ 1,100,000 | |
Restructuring Reserve | $ 47,000 |
Note 7 - Recent Accounting St26
Note 7 - Recent Accounting Standards (Details Textual) - Scenario, Forecast [Member] - Accounting Standards Update 2014-09 [Member] | Jan. 01, 2018USD ($) |
Minimum [Member] | |
Cumulative Effect on Retained Earnings, Net of Tax | $ 350,000 |
Maximum [Member] | |
Cumulative Effect on Retained Earnings, Net of Tax | $ 400,000 |