Clearfield (CLFD) 10-Q 7 Feb 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Dec. 31, 2016	Jan. 27, 2017
Document Information [Line Items]
Entity Registrant Name	Clearfield, Inc.
Entity Central Index Key	796,505
Trading Symbol	clfd
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		14,142,890
Document Type	10-Q
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Balance Sheets (Curre

Condensed Balance Sheets (Current Period Unaudited) - USD ($)	Dec. 31, 2016	Sep. 30, 2016
Current Assets
Cash and cash equivalents	$ 22,057,906	$ 28,014,321
Short-term investments	7,930,075	5,527,075
Accounts receivables, net	7,450,917	7,999,210
Inventories	8,714,645	8,373,155
Other current assets	976,558	1,198,917
Total current assets	47,130,101	51,112,678
Property, plant and equipment, net	5,904,333	5,780,814
Other Assets
Long-term investments	13,281,000	10,703,000
Goodwill	2,570,511	2,570,511
Other	439,568	428,310
Total other assets	16,291,079	13,701,821
Total Assets	69,325,513	70,595,313
Current Liabilities
Accounts payable	2,421,585	2,573,292
Accrued compensation	1,900,741	4,697,138
Accrued expenses	120,803	75,306
Total current liabilities	4,443,129	7,345,736
Other Liabilities
Deferred taxes	411,779	411,779
Deferred rent	246,695	243,755
Total other liabilities	658,474	655,534
Total Liabilities	5,101,603	8,001,270
Commitments and Contingencies
Shareholders’ Equity
Preferred stock, $.01 par value; authorized 500 shares; no shares outstanding
Common stock, authorized 50,000,000, $.01 par value; 14,145,164 and 14,126,279 , shares issued and outstanding at December 31, 2016 and September 30, 2016	141,452	141,263
Additional paid-in capital	58,073,263	57,320,515
Retained earnings	6,009,195	5,132,265
Total Shareholders’ Equity	64,223,910	62,594,043
Total Liabilities and Shareholders’ Equity	$ 69,325,513	$ 70,595,313

Condensed Balance Sheets (Curr3

Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Dec. 31, 2016	Sep. 30, 2016
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	500	500
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	50,000,000	50,000,000
Common stock, issued (in shares)	14,145,164	14,126,279
Common stock, outstanding (in shares)	14,145,164	14,126,279

Condensed Statements of Earning

Condensed Statements of Earnings, Unaudited - USD ($)	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net sales	$ 18,266,162	$ 15,689,715
Cost of sales	11,057,442	9,012,919
Gross profit	7,208,720	6,676,796
Operating expenses
Selling, general and administrative	6,017,524	4,697,015
Income from operations	1,191,196	1,979,781
Interest income	52,734	33,539
Income before income taxes	1,243,930	2,013,320
Income tax expense	367,000	525,866
Net income	$ 876,930	$ 1,487,454
Net income per common share:
Basic (in dollars per share)	$ 0.06	$ 0.11
Diluted (in dollars per share)	$ 0.06	$ 0.11
Weighted average shares outstanding:
Basic (in shares)	13,567,484	13,288,679
Diluted (in shares)	13,790,793	13,575,162

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows, Unaudited - USD ($)	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities
Net income	$ 876,930	$ 1,487,454
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	388,625	348,749
Deferred taxes		478,887
Loss on disposal of assets		1,390
Stock based compensation	593,746	226,767
Changes in operating assets and liabilities:
Accounts receivable, net	548,293	991,240
Inventories	(341,490)	239,335
Other assets	228,259	(162,927)
Accounts payable and accrued expenses	(2,899,667)	(1,352,732)
Net cash (used in) provided by operating activities	(605,304)	2,258,163
Cash flows from investing activities
Purchases of property, plant and equipment and intangible assets	(529,302)	(226,710)
Purchases of investments	(7,440,000)	(1,184,000)
Proceeds from maturities of investments	2,459,000	1,886,000
Net cash (used in) provided by investing activities	(5,510,302)	475,290
Cash flows from financing activities
Repurchase of common stock		(257,242)
Proceeds from issuance of common stock under employee stock purchase plan	169,500	118,013
Proceeds from issuance of common stock upon exercise of stock options	17	34,990
Tax withholding related to vesting of restricted stock grants	(10,326)	(1,391)
Net cash provided by (used in) financing activities	159,191	(105,630)
(Decrease) increase in cash and cash equivalents	(5,956,415)	2,627,823
Cash and cash equivalents, beginning of period	28,014,321	18,071,210
Cash and cash equivalents, end of period	22,057,906	20,699,033
Supplemental disclosures for cash flow information
Cash paid during the year for income taxes	12,250	15,884
Non-cash financing activities
Cashless exercise of stock options	$ 32,984	$ 15,890

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Basis of Accounting [Text Block]	Note 1. The accompanying (a) condensed balance sheet as of September 30, 2016, These condensed financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10 September 30, 2016. In preparation of the Company’s financial statements, management is required to make estimates and assumptions that affect reported amounts of assets and liabilities and related revenues and expenses during the reporting periods. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. In March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting first December 15, 2016 September 30, 2016, October 1, 2015. 10 December 31, 2015 Statement of earnings fourth 2016. $104,134 December 31, 2015 5.2% December 31, 2015 $0.01 December 31, 2015. Statement of cash flows $348,000 three December 31, 2015.

Note 2 - Net Income Per Share

Note 2 - Net Income Per Share	3 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 2. Basic net income per common share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted EPS equals net income divided by the sum of the weighted average number of shares of common stock outstanding plus all additional common stock equivalents, such as stock options and restricted stock awards, when dilutive. The following is a reconciliation of the numerator and denominator of the net income per common share computations for the three December 31, 2016 2015: Three Months Ended December 31, 2016 2015 Net income $ 876,930 $ 1,487,454 Weighted average common shares 13,567,484 13,288,679 Dilutive potential common shares 223,309 286,483 Weighted average dilutive common shares outstanding 13,790,793 13,575,162 Net income per common share: Basic $ 0.06 $ 0.11 Diluted $ 0.06 $ 0.11

Note 3 - Cash, Cash Equivalents

Note 3 - Cash, Cash Equivalents and Investments	3 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	Note 3. The Company currently invests its excess cash in money market accounts and bank certificates of deposit (CDs) with a term of not more than three three The maturity dates of the Company’s CDs at December 31, 2016 September 30, 2016 December 31, September 30, Less than one year $ 7,930,075 $ 5,527,075 1-3 years 13,281,000 10,703,000 Total $ 21,211,075 $ 16,230,075

Note 4 - Stock Based Compensati

Note 4 - Stock Based Compensation	3 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 4. The Company recorded $593,746 three December 31, 2016 $539,046 $54,700 $226,767 three December 31, 2015 $204,881 $21,886 December 31, 2016, $6,860,649 7.8 There were no three December 31, 2016 December 31, 2015. three December 31, 2016: Number of Weighted average exercise price Outstanding at September 30, 2016 54,800 $ 3.13 Granted - - Exercised (10,000 ) 3.30 Cancelled or Forfeited - - Outstanding at December 31, 2016 44,800 $ 3.09 The intrinsic value of an option is the amount by which the fair value of the underlying stock exceeds its exercise price. At December 31, 2016, 3.2 $788,892. three December 31, 2016, $17 three December 31, 2015, 8,000 $34,990 The Company’s 2007 one ten There were no three December 31, 2016. three December 31, 2015, 8,500 five $13.64 three December 31, 2016 Number of Weighted Unvested shares at September 30, 2016 563,570 $ 14.26 Granted - - Vested (2,000 ) 13.59 Forfeited - - Unvested at December 31, 2016 561,570 $ 14.26 Employee Stock Purchase Plan Clearfield, Inc.’s ESPP allows participating employees to purchase shares of the Company’s common stock at a discount through payroll deductions. The ESPP is available to all employees subject to certain eligibility requirements. Terms of the ESPP provide that participating employees may may 85% one six January 1 July 1 December 31, 2016 December 31, 2015, 11,144 10,352 $15.21 $11.40 December 31, 2016, 131,978

Note 5 - Accounts Receivable

Note 5 - Accounts Receivable	3 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Financing Receivables [Text Block]	Note 5. Credit is extended based on the evaluation of a customer’s financial condition and collateral is generally not required. Accounts that are outstanding longer than the contractual payment terms are considered past due. The Company writes off accounts receivable when they become uncollectible; payments subsequently received on such receivables are credited to the allowance for doubtful accounts. As of December 31, 2016 September 30, 2016, $90,473 $93,473, See Note 7,

Note 6 - Inventories

Note 6 - Inventories	3 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 6. Inventories consist of the following as of: December 31, 2016 September 30, 2016 Raw materials $ 5,997,636 $ 5,702,762 Work-in-progress 650,736 471,305 Finished goods 2,066,273 2,199,088 Inventories $ 8,714,645 $ 8,373,155

Note 7 - Major Customer Concent

Note 7 - Major Customer Concentration	3 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	Note 7. The following table summarizes customers comprising 10% three December 31, 2016 December 31, 2015: Three Months Ended December 31, 2016 2015 Customer A 28 % 26 % Customer B 14 % 13 % As of December 31, 2016, 19%, 15%, 11% September 30, 2016, 18% 12%

Note 8 - Goodwill and Patents

Note 8 - Goodwill and Patents	3 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	Note 8. The Company analyzes its goodwill for impairment annually or at an interim period when events occur or changes in circumstances indicate potential impairment. The result of the analysis performed in the fourth September 30, 2016 not December 31, 2016, no The Company capitalizes legal costs incurred to obtain patents. Once accepted by either the U.S. Patent Office or the equivalent office of a foreign country, these legal costs are amortized using the straight-line method over the remaining estimated lives, not exceeding 20 December 31, 2016, nine nine

Note 9 - Income Taxes

Note 9 - Income Taxes	3 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 9. For the three December 31, 2016, $367,000, 29.5%. As of both December 31, 2016 September 30, 2016, $ 322,000 December 31, 2016. For the three December 31, 2015, $526,000, 26.1%. December 2015 Deferred taxes recognize the impact of temporary differences between the amounts of the assets and liabilities recorded for financial statement purposes and these amounts measured in accordance with tax laws. The Company’s realization of deferred tax temporary differences is contingent upon future taxable earnings. The Company reviewed its deferred tax asset for expected utilization using a “more likely than not” criteria by assessing the available positive and negative factors surrounding its recoverability. As of December 31, 2016, not 12 During the quarter ended December 31, 2015, 2015 17

Note 10 - Accounting Pronouncem

Note 10 - Accounting Pronouncements	3 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Note 10. Recent Accounting Pronouncements In May 2014, 606, Revenue from Contracts with Customers 605, December 15, 2017, December 15, 2016, In July 2015, 2015 11, Inventory (Topic 330) first first first December 15, 2016, In February 2016, 2016 02, Leases 12 December 15, 2018,

Note 2 - Net Income Per Share (

Note 2 - Net Income Per Share (Tables)	3 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended December 31, 2016 2015 Net income $ 876,930 $ 1,487,454 Weighted average common shares 13,567,484 13,288,679 Dilutive potential common shares 223,309 286,483 Weighted average dilutive common shares outstanding 13,790,793 13,575,162 Net income per common share: Basic $ 0.06 $ 0.11 Diluted $ 0.06 $ 0.11

Note 3 - Cash, Cash Equivalen17

Note 3 - Cash, Cash Equivalents and Investments (Tables)	3 Months Ended
	Dec. 31, 2016
Notes Tables
Investments Classified by Contractual Maturity Date [Table Text Block]	December 31, September 30, Less than one year $ 7,930,075 $ 5,527,075 1-3 years 13,281,000 10,703,000 Total $ 21,211,075 $ 16,230,075

Note 4 - Stock Based Compensa18

Note 4 - Stock Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of Weighted average exercise price Outstanding at September 30, 2016 54,800 $ 3.13 Granted - - Exercised (10,000 ) 3.30 Cancelled or Forfeited - - Outstanding at December 31, 2016 44,800 $ 3.09
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	Number of Weighted Unvested shares at September 30, 2016 563,570 $ 14.26 Granted - - Vested (2,000 ) 13.59 Forfeited - - Unvested at December 31, 2016 561,570 $ 14.26

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	3 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, 2016 September 30, 2016 Raw materials $ 5,997,636 $ 5,702,762 Work-in-progress 650,736 471,305 Finished goods 2,066,273 2,199,088 Inventories $ 8,714,645 $ 8,373,155

Note 7 - Major Customer Conce20

Note 7 - Major Customer Concentration (Tables)	3 Months Ended
	Dec. 31, 2016
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Three Months Ended December 31, 2016 2015 Customer A 28 % 26 % Customer B 14 % 13 %

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details Textual) - Accounting Standards Update 2016-09 [Member] - Three Months Ended December 31, 2015 [Member]	3 Months Ended
	Dec. 31, 2016USD ($)
Adjustments for New Accounting Principle, Early Adoption [Member]
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	$ 104,134
Increase (Decrease) in Effective Income Tax Rate Reconciliation, Percent	(5.20%)
Increase (Decrease) in Earnings Per Share, Basic	0.01
Reclassification of Excess Tax Benefits Related to Stock-based Employee Awards from Financing Activities to Operating Activities [Member]
Prior Period Reclassification Adjustment	$ 348,000

Note 2 - Net Income Per Share -

Note 2 - Net Income Per Share - Net Income Per Common Share (Details) - USD ($)	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net income	$ 876,930	$ 1,487,454
Weighted average common shares (in shares)	13,567,484	13,288,679
Dilutive potential common shares (in shares)	223,309	286,483
Weighted average dilutive common shares outstanding (in shares)	13,790,793	13,575,162
Net income per common share:
Basic (in dollars per share)	$ 0.06	$ 0.11
Diluted (in dollars per share)	$ 0.06	$ 0.11

Note 3 - Cash, Cash Equivalen23

Note 3 - Cash, Cash Equivalents and Investments (Details Textual)	3 Months Ended
	Dec. 31, 2016
Maximum [Member]
Held-to-maturity Securities, Investment Term	3 years

Note 3 - Cash, Cash Equivalen24

Note 3 - Cash, Cash Equivalents and Investments - CD Maturity Dates (Details) - USD ($)	Dec. 31, 2016	Sep. 30, 2016
Less than one year	$ 7,930,075	$ 5,527,075
1-3 years	13,281,000	10,703,000
Total	$ 21,211,075	$ 16,230,075

Note 4 - Stock Based Compensa25

Note 4 - Stock Based Compensation (Details Textual) - USD ($)	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Allocated Share-based Compensation Expense	$ 593,746	$ 226,767
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 6,860,649
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	7 years 292 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	3 years 73 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 788,892
Proceeds from Stock Options Exercised	$ 17	$ 34,990
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	10,000	8,000
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Market Price Percentage, Offering Date	85.00%
Stock Issued During Period, Shares, Employee Stock Purchase Plans	11,144	10,352
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price	$ 15.21	$ 11.40
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	131,978
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value
Restricted Stock [Member] | Stock Compensation Plan 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	0
Restricted Stock [Member] | Employees [Member] | Stock Compensation Plan 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		5 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		8,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 13.64
Minimum [Member] | Restricted Stock [Member] | Employee and Non-Employee Directors [Member] | Stock Compensation Plan 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Maximum [Member] | Restricted Stock [Member] | Employee and Non-Employee Directors [Member] | Stock Compensation Plan 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	10 years
Selling, General and Administrative Expenses [Member]
Allocated Share-based Compensation Expense	$ 539,046	$ 204,881
Cost of Sales [Member]
Allocated Share-based Compensation Expense	$ 54,700	$ 21,886

Note 4 - Stock Based Compensa26

Note 4 - Stock Based Compensation - Stock Option Activity (Details) - $ / shares	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Options, outstanding (in shares)	54,800
Weighted-average exercise price, outstanding (in dollars per share)	$ 3.13
Exercised (in shares)	(10,000)	(8,000)
Exercised (in dollars per share)	$ 3.30
Options, outstanding (in shares)	44,800
Weighted-average exercise price, outstanding (in dollars per share)	$ 3.09

Note 4 - Stock Based Compensa27

Note 4 - Stock Based Compensation - Restricted Stock Transactions (Details) - Restricted Stock [Member]	3 Months Ended
	Dec. 31, 2016$ / sharesshares
Balance, unvested shares (in shares) | shares	563,570
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 14.26
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares
Vested (in shares) | shares	(2,000)
Vested (in dollars per share) | $ / shares	$ 13.59
Forfeited (in shares) | shares
Forfeited (in dollars per share) | $ / shares
Balance, unvested shares (in shares) | shares	561,570
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 14.26

Note 5 - Accounts Receivable (D

Note 5 - Accounts Receivable (Details Textual) - USD ($)	Dec. 31, 2016	Sep. 30, 2016
Allowance for Doubtful Accounts Receivable, Current	$ 90,473	$ 93,473

Note 6 - Inventories - Componen

Note 6 - Inventories - Components of Inventory (Details) - USD ($)	Dec. 31, 2016	Sep. 30, 2016
Raw materials	$ 5,997,636	$ 5,702,762
Work-in-progress	650,736	471,305
Finished goods	2,066,273	2,199,088
Inventories	$ 8,714,645	$ 8,373,155

Note 7 - Major Customer Conce30

Note 7 - Major Customer Concentration (Details Textual) - Customer Concentration Risk [Member] - Accounts Receivable [Member]	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016
Customer B [Member]
Concentration Risk, Percentage	19.00%	12.00%
Customer C [Member]
Concentration Risk, Percentage	15.00%
Customer A [Member]
Concentration Risk, Percentage	11.00%	18.00%

Note 7 - Major Customer Conce31

Note 7 - Major Customer Concentration - Customers Comprising 10% or More of Net Sales (Details) - Customer Concentration Risk [Member] - Sales Revenue, Net [Member]	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Customer A [Member]
Concentration Risk, Percentage	28.00%	26.00%
Customer B [Member]
Concentration Risk, Percentage	14.00%	13.00%

Note 8 - Goodwill and Patents (

Note 8 - Goodwill and Patents (Details Textual) $ in Thousands	3 Months Ended
	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)
Goodwill, Impairment Loss	$ 0	$ 0
Number of Patents Granted	9
Number of Patents Pending	9
Patents [Member]
Finite-Lived Intangible Asset, Useful Life	20 years

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual) - USD ($)	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Income Tax Expense (Benefit)	$ 367,000	$ 525,866
Effective Income Tax Rate Reconciliation, Percent	29.50%	26.10%
Unrecognized Tax Benefits	$ 0
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Valuation Allowance	$ 322,000		$ 322,000