SCI Engineered Materials (SCIA) 10-Q 3 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 30, 2016
Document Information [Line Items]
Entity Registrant Name	SCI Engineered Materials, Inc.
Entity Central Index Key	830,616
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	SCIA
Entity Common Stock, Shares Outstanding		4,033,292
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current Assets
Cash	$ 874,117	$ 997,170
Accounts receivable, less allowance for doubtful accounts of $26,000	417,182	302,512
Inventories	760,205	573,114
Prepaid expenses	212,432	61,301
Total current assets	2,263,936	1,934,097
Property and Equipment, at cost
Machinery and equipment	7,503,481	7,506,574
Furniture and fixtures	154,246	154,245
Leasehold improvements	329,904	329,904
Construction in progress	6,703	0
Property, Plant and Equipment, Gross	7,994,334	7,990,723
Less accumulated depreciation	(5,749,109)	(5,642,619)
Property, Plant and Equipment, Net	2,245,225	2,348,104
Other Assets
Deposits	21,943	16,487
Intangibles	34,936	34,935
Total other assets	56,879	51,422
TOTAL ASSETS	4,566,040	4,333,623
Current Liabilities
Capital lease obligations, current portion	113,097	123,960
Notes payable, current portion	187,417	197,328
Accounts payable	378,786	191,475
Customer deposits	520,700	155,800
Accrued compensation	68,402	114,900
Accrued expenses and other	131,381	140,117
Total current liabilities	1,399,783	923,580
Capital lease obligations, net of current portion	191,354	215,231
Notes payable, net of current portion	350,921	393,513
Total liabilities	$ 1,942,058	$ 1,532,324
Commitments and contingencies
Shareholders' Equity
Convertible preferred stock, Series B, 10% cumulative, nonvoting, no par value, $10 stated value, optional redemption at 103%; optional shareholder conversion 2 shares for 1; 24,152 shares issued and outstanding	$ 472,172	$ 466,134
Common stock, no par value, authorized 15,000,000 shares; 4,032,023 and 4,016,508 shares issued and outstanding, respectively	10,006,227	9,993,027
Additional paid-in capital	2,131,933	2,097,599
Accumulated deficit	(9,986,350)	(9,755,461)
Total shareholders' equity	2,623,982	2,801,299
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 4,566,040	$ 4,333,623

BALANCE SHEETS _Parenthetical_

BALANCE SHEETS [Parenthetical] - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Allowance for doubtful accounts (in dollars)	$ 26,000	$ 26,000
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	4,032,023	4,016,508
Common stock, shares outstanding	4,032,023	4,016,508
Convertible Preferred Stock Series B [Member]
Convertible preferred stock, series B, cumulative percentage of interest	10.00%	10.00%
Convertible preferred stock, stated value (in dollars per share)	$ 10	$ 10
Convertible preferred stock, optional redemption	103.00%	103.00%
Convertible preferred stock, optional shareholder conversion	2:1	2:1
Convertible preferred stock, shares issued	24,152	24,152
Convertible preferred stock, shares outstanding	24,152	24,152

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue	$ 1,374,812	$ 2,727,807
Cost of revenue	1,079,370	2,058,402
Gross profit	295,442	669,405
General and administrative expense	326,310	342,704
Research and development expense	80,076	97,643
Marketing and sales expense	109,010	110,304
(Loss) income from operations	(219,954)	118,754
Other expense
Interest, net	11,685	15,949
(Gain) loss on disposal of equipment	(750)	289
Other expense	10,935	16,238
(Loss) income before provision for income taxes	(230,889)	102,516
Income tax expense	0	0
Net (loss) income	(230,889)	102,516
Dividends on preferred stock	6,038	6,038
(LOSS) INCOME APPLICABLE TO COMMON STOCK	$ (236,927)	$ 96,478
Earnings per share - basic and diluted (Note 6)
Basic (in dollars per share)	$ (0.06)	$ 0.02
Diluted (in dollars per share)	$ (0.06)	$ 0.02
Weighted average shares outstanding
Basic (in shares)	4,024,254	3,940,261
Diluted (in shares)	4,024,254	3,970,677

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ (230,889)	$ 102,516
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and accretion	110,714	112,758
Amortization	2,360	2,817
Stock based compensation	53,572	52,152
(Gain) loss on disposal of equipment	(750)	289
Inventory reserve	6,000	12,000
Changes in operating assets and liabilities:
Accounts receivable	(114,670)	4,633
Inventories	(193,091)	601,523
Prepaid expenses	(151,131)	20,904
Other assets	(5,457)	0
Accounts payable	187,311	(110,643)
Accrued expenses and customer deposits	309,666	365
Net cash (used in) provided by operating activities	(26,365)	799,314
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds on sale of equipment	750	0
Purchases of property and equipment	(7,835)	(17,711)
Net cash used in investing activities	(7,085)	(17,711)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on capital lease obligations and notes payable	(89,603)	(113,107)
Net cash used in financing activities	(89,603)	(113,107)
NET (DECREASE) INCREASE IN CASH	(123,053)	668,496
CASH - Beginning of period	997,170	1,011,956
CASH - End of period	874,117	1,680,452
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest	11,844	16,301
SUPPLEMENTAL DISCLOSURES OF NONCASH FINANCING ACTIVITIES
Increase in asset retirement obligation	$ 0	$ 2,550

Business Organization and Purpo

Business Organization and Purpose	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1. Business Organization and Purpose SCI Engineered Materials, Inc. (“SCI”, or the “Company”), formerly Superconductive Components, Inc., an Ohio corporation, was incorporated in 1987. The Company operates in one segment as a global supplier and manufacturer of advanced materials for Physical Vapor Deposition (“PVD”) Thin Film Applications. The Company is focused on specific markets within the PVD industry (Photonics, Thin Film Solar, Glass, Thin Film Battery and Transparent Electronics). Substantially all of the Company’s revenues were generated from customers with multi-national operations. Through partnerships with end users and Original Equipment Manufacturers the Company develops innovative customized solutions enabling commercial success.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Note 2. Summary of Significant Accounting Policies The accompanying unaudited financial statements have been prepared in accordance with U. S. generally accepted accounting principles for interim financial information and with instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for fair presentation of the results of operations for the periods presented have been included. The financial statements should be read in conjunction with the audited financial statements and the notes thereto for the year ended December 31, 2015. Interim results are not necessarily indicative of results for the full year. The preparation of financial statements in conformity with U. S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In April 2015, the FASB issued guidance creating ASC Subtopic 835-30, Interest—Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs . At December 31, 2015, $ 19,665

Common Stock and Stock Options

Common Stock and Stock Options	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 3. Common Stock and Stock Options Stock Based Compensation - Compensation cost for all stock-based awards is based on the grant date fair value and recognized over the required service (vesting) period. Non cash stock based compensation expense was $ 53,572 52,152 310,032 The non-employee board members received compensation of 15,515 10,842 13,199 11,779 The cumulative status of options granted and outstanding at March 31, 2016 and December 31, 2015, as well as options which became exercisable in connection with the Stock Option Plans is summarized as follows: Weighted Average Stock Options Exercise Price Outstanding at January 1, 2015 603,857 $ 4.18 Expired (30,000) 2.40 Forfeited (1,000) 3.10 Outstanding at December 31, 2015 572,857 $ 4.27 Outstanding at March 31, 2016 572,857 $ 4.27 Options exercisable at December 31, 2015 325,621 $ 5.15 Options exercisable at March 31, 2016 362,071 $ 5.23 Weighted Average Stock Options Exercise Price Outstanding at January 1, 2015 100,000 $ 3.20 Expired (100,000) 3.20 Outstanding at December 31, 2015 - $ - Outstanding at March 31, 2016 - $ - Exercise prices for options ranged from $ 0.84 6.00 4.27 4.4

Preferred Stock

Preferred Stock	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Preferred Stock [Text Block]	Note 4. Preferred Stock Dividends on the Series B preferred stock accrue at 10 6,038 223,406 217,368

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	Note 5. Inventories March 31, December 31, 2016 2015 (unaudited) Raw materials $ 219,152 $ 202,617 Work-in-process 565,542 366,114 Finished goods 36,781 59,653 Inventory reserve (61,270) (55,270) $ $ 573,114

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Earnings Per Share Basic income per share is calculated as income applicable to common shareholders divided by the weighted average of common shares outstanding. Diluted earnings per share is calculated as diluted income available to common shareholders divided by the diluted weighted average number of common shares. Diluted weighted average number of common shares gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. Diluted earnings per share exclude all diluted potential shares if their effect is anti-dilutive. For the three months ended March 31, 2016 and 2015, all convertible preferred stock and common stock options listed in Note 3 that were out-of-the-money or anti-dilutive were excluded from diluted earnings per share. Three months ended March 31, 2016 2015 (Loss) income applicable to common shares $ (236,927) $ 96,478 Weighted average common shares outstanding – basic 4,024,254 3,940,261 Effect of dilutions - 30,416 Weighted average shares outstanding – diluted 4,024,254 3,970,677

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Note 7. Notes Payable On August 8, 2013, the Company issued a Promissory Note (the “Note”) in the amount of $ 128,257 August 5, 2016 The Note is collateralized by a blanket lien on all of the Company’s assets including, without limitation, inventory, equipment and accounts receivable. Among other items, the Note provides for the following: - Interest subject to change from time to time based on changes in LIBOR. The interest rate applied to the unpaid principal balance is at a rate of 4 5 - Monthly payments of approximately $ 3,800 The interest rate on the Note was 5 19,047 During 2010, the Company applied and was approved for a 166 Direct Loan to borrow up to $ 744,250 3 0.25 1,656 10,500 71,900 374,811 7,026 During 2010, the Company also applied and was approved for a 166 Direct Loan through the Advanced Energy Program with the Ohio Air Quality Development Authority (OAQDA) to borrow up to approximately $ 1.4 368,906 2,121 17,300 3 50,400 161,785 10,279 An Intercreditor Agreement exists as part of the above mentioned loans with agencies of the State of Ohio. The OAQDA and ODSA agree to shared lien and security interest through mutual covenants. These covenants include, but are not limited to, the creation of an agreed upon number of jobs, filing of quarterly and annual reports and various financial covenants. During 2015, the Company made a final payment and paid a 166 Direct Loan in full. During 2006, the Company was approved for this 166 Direct Loan from the Ohio Department of Development, now known as the ODSA, in the amount of $ 400,000 84 months 3 0.25 400 6,100 42,200 The Company was in compliance with all covenants of these loans at March 31, 2016. It is possible that the Company may not be in compliance with all covenants in future periods. In the past the lenders have granted the Company a waiver or amendment when relief was sought. If non-compliance is possible the Company will seek a waiver or amendment.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 8. Income Taxes There was no federal, state and local income tax expense for the three months ended March 31, 2016 and 2015. Deferred tax assets and liabilities result from temporary differences in the recognition of income and expense for tax and financial reporting purposes. A full valuation allowance has been recorded against the realizability of the net deferred tax assets at March 31, 2016 and December 31, 2015. The Company has net operating loss carryforwards available for federal and state tax purposes of approximately $ 4,700,000 2035

Liquidity

Liquidity	3 Months Ended
	Mar. 31, 2016
Liquidity Disclosures [Abstract]
Liquidity Disclosures [Text Block]	Note 9. Liquidity Management has forecasted revenues and related costs as well as investing plans and financing needs to determine liquidity to meet cash flow requirements and believes the Company will have sufficient liquidity at least through March 31, 2017. This forecast was based on current cash levels and debt obligations, and the best estimates of revenues primarily from existing customers and gave consideration to the continued and possible increased levels of uncertainty in demand in the markets in which the Company operates. The Company’s ability to maintain current operations is dependent upon its ability to achieve these forecasted results, which the Company believes will occur.

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 10. Subsequent Event As of March 31, 2016 there was an outstanding balance of $ 19,047

Common Stock and Stock Options

Common Stock and Stock Options (Tables)	3 Months Ended
	Mar. 31, 2016
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Employee Stock Options Weighted Average Stock Options Exercise Price Outstanding at January 1, 2015 603,857 $ 4.18 Expired (30,000) 2.40 Forfeited (1,000) 3.10 Outstanding at December 31, 2015 572,857 $ 4.27 Outstanding at March 31, 2016 572,857 $ 4.27 Options exercisable at December 31, 2015 325,621 $ 5.15 Options exercisable at March 31, 2016 362,071 $ 5.23
Non Employee Director Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Non-Employee Director Stock Options Weighted Average Stock Options Exercise Price Outstanding at January 1, 2015 100,000 $ 3.20 Expired (100,000) 3.20 Outstanding at December 31, 2015 - $ - Outstanding at March 31, 2016 - $ -

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	March 31, December 31, 2016 2015 (unaudited) Raw materials $ 219,152 $ 202,617 Work-in-process 565,542 366,114 Finished goods 36,781 59,653 Inventory reserve (61,270) (55,270) $ $ 573,114

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following is provided to reconcile the earnings per share calculations: Three months ended March 31, 2016 2015 (Loss) income applicable to common shares $ (236,927) $ 96,478 Weighted average common shares outstanding – basic 4,024,254 3,940,261 Effect of dilutions - 30,416 Weighted average shares outstanding – diluted 4,024,254 3,970,677

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2015USD ($)
Accounting Policies [Line Items]
Debt Issuance Cost	$ 19,665

Common Stock and Stock Option20

Common Stock and Stock Options (Details) - Employee Stock Options [Member] - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Options, Outstanding, Beginning Balance	572,857	603,857
Stock Options, Expired		(30,000)
Stock Options, Forfeited		(1,000)
Stock Options, Outstanding, Ending Balance	572,857	572,857
Stock Options, Options exercisable	362,071	325,621
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 4.27	$ 4.18
Weighted Average Exercise Price, Expired		2.40
Weighted Average Exercise Price, Forfeited		3.10
Weighted Average Exercise Price, Outstanding, Ending Balance	$ 4.27	4.27
Weighted Average Exercise Price, Options exercisable	$ 5.23	$ 5.15

Common Stock and Stock Option21

Common Stock and Stock Options (Details 1) - Non Employee Director Stock Options [Member] - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Options, Outstanding, Beginning Balance	0	100,000
Stock Options, Expired		(100,000)
Stock Options, Outstanding, Ending Balance	0	0
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 0	$ 3.20
Weighted Average Exercise Price, Expired		3.20
Weighted Average Exercise Price, Outstanding, Ending Balance	$ 0	$ 0

Common Stock and Stock Option22

Common Stock and Stock Options (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit (in dollars per share)	$ 0.84
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit (in dollars per share)	$ 6
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	4 years 4 months 24 days
Share-based Compensation, Total	$ 53,572	$ 52,152
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 310,032
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price	$ 4.27
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, New Issues (in shares)	15,515	10,842
Stock Issued During Period, Value, New Issues	$ 13,199	$ 11,779

Preferred Stock (Details Textua

Preferred Stock (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Preferred Stock Dividends, Income Statement Impact	$ 6,038	$ 6,038
Series B Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage	10.00%
Dividends	$ 223,406		$ 217,368

Inventories (Details)

Inventories (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Inventory [Line Items]
Raw materials	$ 219,152	$ 202,617
Work-in-process	565,542	366,114
Finished goods	36,781	59,653
Inventory reserve	(61,270)	(55,270)
Inventory, Net	$ 760,205	$ 573,114

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
(Loss) income applicable to common shares	$ (236,927)	$ 96,478
Weighted average common shares outstanding - basic	4,024,254	3,940,261
Effect of dilutions	0	30,416
Weighted average shares outstanding - diluted	4,024,254	3,970,677

Notes Payable (Details Textual)

Notes Payable (Details Textual) - USD ($)	Aug. 08, 2013	Jul. 31, 2015	Mar. 31, 2016	Mar. 31, 2014	Jan. 31, 2014	Dec. 31, 2015	Aug. 31, 2015	Mar. 20, 2012	Dec. 31, 2010	Dec. 31, 2006
Debt Conversion [Line Items]
Debt Issuance Cost						$ 19,665
Promissory Note [Member]
Debt Conversion [Line Items]
Debt Instrument, Basis Spread on Variable Rate	4.00%
Debt Instrument, Maturity Date	Aug. 5, 2016
Notes Payable to Bank	$ 128,257
Line of Credit Facility, Amount Outstanding			$ 19,047
Debt Instrument, Interest Rate, Effective Percentage	5.00%		5.00%			5.00%
Line of Credit Facility, Periodic Payment	$ 3,800
Ohio Development Services Agency [Member]
Debt Conversion [Line Items]
Line of Credit Facility, Frequency of Payment and Payment Terms			84 months
Line of Credit Facility, Interest Rate During Period			3.00%
Line of Credit Facility, Amount Outstanding			$ 374,811
Servicing Fee Annual Percent Fee			0.25%
Line of Credit Facility, Periodic Payment			$ 10,500
Line of Credit Facility, Maximum Borrowing Capacity									$ 744,250
Line Of Credit Facility Interest And Servicing Payments					$ 1,656
Debt Issuance Cost			7,026
Ohio Development Services Agency [Member] | Line of Credit [Member]
Debt Conversion [Line Items]
Line of Credit Facility, Final Periodic Payment			$ 71,900
Ohio Air Quality Development Authority [Member]
Debt Conversion [Line Items]
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases								$ 368,906	$ 1,400,000
Line of Credit Facility, Interest Rate During Period			3.00%
Line of Credit Facility, Amount Outstanding			$ 161,785
Line of Credit Facility, Periodic Payment			17,300
Line Of Credit Facility Interest And Servicing Payments				$ 2,121
Debt Issuance Cost			10,279
Ohio Air Quality Development Authority [Member] | Line of Credit [Member]
Debt Conversion [Line Items]
Line of Credit Facility, Final Periodic Payment			$ 50,400
Ohio Department Of Development [Member]
Debt Conversion [Line Items]
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases										$ 400,000
Line of Credit Facility, Frequency of Payment and Payment Terms			84 months
Line of Credit Facility, Interest Rate During Period			3.00%
Servicing Fee Annual Percent Fee			0.25%
Line of Credit Facility, Periodic Payment		$ 6,100
Line Of Credit Facility Interest And Servicing Payments					$ 400
Ohio Department Of Development [Member] | Line of Credit [Member]
Debt Conversion [Line Items]
Line of Credit Facility, Final Periodic Payment							$ 42,200

Income Taxes (Details Textual)

Income Taxes (Details Textual)	3 Months Ended
	Mar. 31, 2016USD ($)
Income Tax Contingency [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	$ 4,700,000
Operating Loss Carry forward Expiration Year	2,035

Subsequent Event (Details Textu

Subsequent Event (Details Textual)	Mar. 31, 2016USD ($)
Huntington National Bank [Member]
Subsequent Event [Line Items]
Notes Payable To Bank	$ 19,047