Horizon Kinetics Holding (HKHC) 10-Q 16 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 13, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	SCOTTS LIQUID GOLD INC
Entity Central Index Key	88,000
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	SLGD
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		11,737,478

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Net sales	$ 7,855,900	$ 6,948,200
Operating costs and expenses:
Cost of sales	3,857,100	3,739,400
Advertising	486,100	247,200
Selling	1,249,800	1,353,200
General and administrative	953,100	909,200
Total operating costs and expenses	6,546,100	6,249,000
Income from operations	1,309,800	699,200
Other income	6,200	4,100
Interest expense	(7,400)	(7,300)
Income before income taxes	1,308,600	696,000
Income tax expense	(552,100)	(12,400)
Net income	$ 756,500	$ 683,600
Net income per common share
Basic	$ 0.06	$ 0.06
Diluted	$ 0.06	$ 0.06
Weighted average shares outstanding:
Basic	11,710,745	11,557,281
Diluted	11,927,124	11,874,589

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 5,947,200	$ 7,165,100
Trade receivables, net	2,812,800	1,014,700
Inventories, net	5,190,600	4,698,600
Prepaid expenses	359,100	227,200
Total current assets	14,309,700	13,105,600
Property and equipment, net	552,800	430,000
Deferred tax asset	2,038,300	2,556,200
Other assets	51,000	51,000
Total assets	16,951,800	16,142,800
Current liabilities:
Accounts payable	1,712,600	1,238,000
Accrued payroll and benefits	260,700	780,300
Income taxes payable	30,300	5,300
Accrued property taxes	31,400	23,400
Total current liabilities	2,035,000	2,047,000
Total liabilities	2,035,000	2,047,000
Shareholders’ equity:
Common stock; $0.10 par value, authorized 50,000,000 shares; issued and outstanding 11,710,745 shares (2016) and 11,710,745 shares (2015)	1,171,100	1,171,100
Capital in excess of par	5,965,600	5,901,100
Retained earnings	7,780,100	7,023,600
Total shareholders’ equity	14,916,800	14,095,800
Total liabilities and shareholders’ equity	$ 16,951,800	$ 16,142,800

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Common stock par value	$ 0.10	$ 0.10
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	11,710,745	11,710,745
Common stock, shares outstanding	11,710,745	11,710,745

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 756,500	$ 683,600
Adjustment to reconcile net income to net cash (used) provided by operating activities:
Depreciation and amortization	45,300	39,500
Stock-based compensation	64,500	17,200
Deferred income taxes	517,900	0
Change in operating assets and liabilities:
Trade receivables	(1,798,100)	(987,800)
Inventories	(492,000)	(256,400)
Prepaid expenses and other assets	(131,900)	3,100
Income taxes payable (receivable)	25,000	6,600
Accounts payable and accrued expenses	(37,000)	643,700
Total adjustments to net income	(1,806,300)	(534,100)
Net Cash (Used) Provided by Operating Activities	(1,049,800)	149,500
Cash flow from investing activities:
Purchase of property and equipment	(168,100)	(7,400)
Net Cash Used by Investing Activities	(168,100)	(7,400)
Cash flow from financing activities:
Proceeds from exercise of stock options	0	6,900
Net Cash Provided by Financing Activities	0	6,900
Net (Decrease) Increase in Cash and Cash Equivalents	(1,217,900)	149,000
Cash and Cash Equivalents, beginning of period	7,165,100	5,896,600
Cash and Cash Equivalents, end of period	5,947,200	6,045,600
Supplemental disclosures:
Cash paid during the period for interest	$ 7,400	$ 7,300

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	Note 1 . Organization and Summary of Significant Accounting Policies. (a) Company Background Scott’s Liquid Gold-Inc. (a Colorado corporation) was incorporated on February 15, 1954. Scott’s Liquid Gold-Inc. and its wholly-owned subsidiaries (collectively, the “Company,” “we,” “our,” or “us”) develop, manufacture, market and sell quality household and skin and hair care products. We are also a distributor in the United States of Montagne Jeunesse skin sachets and Batiste Dry Shampoo manufactured by two other companies. Our business is comprised of two segments, household products and skin and hair care products. (b) Principles of Consolidation Our consolidated financial statements include our accounts and those of our wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. (c) Basis of Presentation The Consolidated Statements of Operations, Consolidated Balance Sheets, and the Consolidated Statements of Cash Flows included in this Report have been prepared by the Company. In our opinion, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at March 31, 2016 and results of operations and cash flows for all periods have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These consolidated financial statements should be read in conjunction with our financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015. The results of operations for the period ended March 31, 2016 are not necessarily indicative of the operating results for the full year. (d) Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the reported amounts in our financial statements of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include, but are not limited to, the realization of deferred tax assets, reserves for slow moving and obsolete inventory, customer returns and allowances, and stock-based compensation. Actual results could differ from our estimates. (e) Cash Equivalents We consider all highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. (f) Sale of Accounts Receivable On November 3, 2008, effective as of October 31, 2008, we entered into a financing agreement with Summit Financial Resources, L.P. (“Summit”) for the purpose of providing working capital. The financing agreement with Summit was amended on March 12, 2009, March 16, 2011 (effective March 1, 2011) and June 29, 2012 (effective July 1, 2012). The agreement has a term that expires on January 1, 2017, but it may be renewed for additional 12 month periods unless either party elects to cancel in writing at least 60 days prior to January 1, 2017 and thereafter on the anniversary date of each 12 month period. The agreement provides for a factoring line up to $1.5 million and is secured primarily by accounts receivables, inventory, any lease in which we are a lessor and all investment property and guarantees by our active subsidiaries. Under the agreement, Summit will make loans at our request and in its discretion based on: (i) its purchases of our receivables, with recourse against us, at an advance rate of 85% (or such other percentage determined by Summit in its discretion) and (ii) our inventory not to exceed certain amounts, including an aggregate maximum of $500,000. Advances under the agreement have an interest rate of 1.0% over the prime rate (as published in The Wall Street Journal) for the accounts receivables portion of the advances and 2.5% over the prime rate for the inventory portion of the borrowings. At March 31, 2016, the prime rate was 3.50%. There is also an administrative fee of 0.85% per month on the average monthly outstanding loan on the receivable portion of any advance if the average quarterly loan in the prior quarter was less than or equal to $1,000,000, and 0.75% per month if the average quarterly loan in the prior quarter was greater than $1,000,000 and of 1.0% per month on the average monthly outstanding loan on the inventory portion of any advance. The agreement provides that neither we nor our active subsidiaries may engage in a change in control transaction without the prior written consent of Summit. Events of default include, but are not limited to, our failure to make a payment when due or a default occurring on any of our other indebtedness. In 2016 and 2015, we did not sell any of our accounts receivables to Summit. At March 31, 2016 and December 31, 2015 the entire credit line of $1.5 million was available for future factoring of accounts receivable invoices and borrowings secured by our inventory. We report these transactions as a secured borrowing rather than as a sale. As a result, affected accounts receivable, if any, are reported under the “Current Assets” section within our Consolidated Balance Sheets as “Trade receivables, net.” Similarly, the net liability owing to Summit, if any, appears as “Obligations collateralized by receivables and inventory” within the “Current Liabilities” section of our Consolidated Balance Sheets. Net proceeds received on obligations collateralized by receivables and inventory appear as “net cash provided (used) by operating activities” within the “Adjustment to reconcile net income to net cash used by operating activities” section of our Consolidated Statements of Cash Flows. On March 16, 2011, with the consent of Summit, we entered into a financing agreement with Wells Fargo Bank, National Association (“Wells Fargo”) for the purpose of further lowering the cost of borrowing associated with the financing of our accounts receivable and on January 29, 2016 we terminated our agreement with Wells Fargo due to Wal-Mart Stores, Inc. (“Wal-Mart”), changing its accounts payable policy. Pursuant to this agreement, we were able to sell accounts receivables from Wal-Mart at a discount to Wells Fargo; provided, however, that Wells Fargo could reject offers to purchase such receivables in its discretion. These receivables could be purchased by Wells Fargo at a cost to us equal to LIBOR plus 1.15% per annum. The LIBOR rate used depends on the days to maturity of the receivable sold, typically ranging from 102 to 105 days. At January 29, 2016, Wells Fargo used the 105-day LIBOR rate of 0.70%. During the three months ended March 31, 2016 and 2015, we sold approximately $306,800 and $1,055,000, respectively, of our relevant accounts receivable to Wells Fargo for approximately $305,200 and $1,050,600, respectively. The difference between the invoiced amount of the receivable and the cash that we received from Wells Fargo is a cost to us. This cost is in lieu of any cash discount our customer would have been allowed and, thus, is treated in a manner consistent with standard trade discounts granted to our customers. The reporting of the sale of accounts receivables to Wells Fargo is treated as a sale rather than as a secured borrowing. As a result, affected accounts receivables are relieved from the Company’s financial statements upon receipt of the cash proceeds. (g) Inventories Inventories consist of raw materials and finished goods and are stated at the lower of cost (first-in, first-out method) or market. We record a reserve for slow moving and obsolete products and raw materials. We estimate this reserve based upon historical and anticipated sales. Inventories were comprised of the following at: March 31, 2016 December 31, 2015 Finished goods $ 2,248,300 $ 2,101,300 Raw materials 3,062,300 2,717,300 Inventory reserve for obsolescence (120,000 ) (120,000 ) $ 5,190,600 $ 4,698,600 (h) Property and Equipment Property and equipment are recorded at historical cost. Depreciation is provided using the straight-line method over the estimated useful lives of the assets ranging from three to 20 years. Production equipment and production support equipment are estimated to have useful lives of 15 to 20 years and three to 10 years, respectively. Office furniture and office machines are estimated to have useful lives of 10 to 20 years and three to five years, respectively. ( i ) Financial Instruments Financial instruments which potentially subject us to concentrations of credit risk include cash and cash equivalents and trade receivables. We maintain our cash balances in the form of bank demand deposits with financial institutions that we believe are creditworthy. During the three months end March 31, 2016, we maintained balances in various operating accounts in excess of federally insured limits. We establish an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. We have no significant financial instruments with off-balance sheet risk of accounting loss, such as foreign exchange contracts, option contracts or other foreign currency hedging arrangements. The recorded amounts for cash and cash equivalents, receivables, other current assets, accounts payable and accrued expenses approximate fair value due to the short-term nature of these financial instruments. As of March 31, 2016 and December 31, 2015 we had no long-term debt. ( j ) Income Taxes Deferred income tax assets and liabilities are recognized for the future income tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective income tax bases. A valuation allowance is provided when it is more-likely-than-not that some portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which related temporary differences become deductible. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Taxes are reported based on tax positions that meet a more-likely-than-not standard and that are measured at the amount that is more-likely-than-not to be realized. Differences between financial and tax reporting which do not meet this threshold are required to be recorded as unrecognized tax benefits or expense. We classify penalty and interest expense related to income tax liabilities as an income tax expense. There are no significant interest and penalties recognized in the statement of operations or accrued on the balance sheet. The effective tax rate for the three months ended March 31, 2016, was 42.2%, which differs from the statutory income tax rate due to permanent book to tax differences. As of December 31, 2014, the Company had a deferred tax asset of $0, net of a valuation allowance of $3,379,100. As of that date and until the second quarter of 2015, a full valuation allowance had been provided against deferred tax assets, as it was more-likely-than-not that the Company’s net deferred tax asset would not be realized in the foreseeable future due to the Company’s cumulative book loss. Consequently, the Company was unable to recognize any income tax benefit in such prior periods. However, the Company had, as of June 30, 2015, reported positive income for nine consecutive quarters and the 36 month cumulative income before income taxes was approximately $3.4 million. Accordingly, the Company as of June 30, 2015 released a portion of the valuation allowance related to the deferred tax asset of approximately $3.1 million as well as an additional $70,200 in the third quarter ended September 30, 2015. The analysis of the partial valuation allowance release was in accordance with accounting standards for interim period reporting. The remaining $169,200 in valuation allowance was released during the fourth quarter of 2015. ( k ) Revenue Recognition Our revenue recognition policy is significant because the amount and timing of revenue is a key component of our results of operations. Certain criteria are required to be met in order to recognize revenue. If these criteria are not met, then the associated revenue is deferred until it is met. In our case, the criteria generally are met when we have an arrangement to sell a product, we have delivered the product in accordance with that arrangement, the sales price of the product is determinable and we believe that we will be paid for the sale. We establish reserves for customer returns of our products and customer allowances. We estimate these reserves based upon, among other things, an assessment of historical trends, information from customers and anticipated returns related to current sales activity. These reserves are established in the period of sale and reduce our revenue in that period. Our reserve for customer allowances includes primarily reserves for trade promotions to support price features, displays, slotting fees and other merchandising of our products to our customers. The actual level of returns and customer allowances are influenced by several factors, including the promotional efforts of our customers, changes in mix of our customers, changes in the mix of the products we sell and the maturity of the product. We may change our estimates based on actual results and consideration of other factors that cause returns and allowances. In the event that actual results differ from our estimates, the results of future periods may be impacted. We also establish reserves for coupons, rebates and certain other promotional programs for consumers. We estimate these reserves based upon, among other things, an assessment of historical trends and current sales activity. These reserves are recorded as a reduction of revenue at the later of the date at which the revenue is recognized or the date at which the sale incentive is offered. We have also established an allowance for doubtful accounts. We estimate this allowance based upon, among other things, an assessment of the credit risk of specific customers and historical trends. We believe our allowance for doubtful accounts is adequate to absorb any losses which may arise. In the event that actual losses differ from our estimates, the results of future periods may be impacted. At March 31, 2016 and December 31, 2015 approximately $745,800 and $1,179,700, respectively, had been reserved as a reduction of accounts receivable. Trade promotions to our customers and incentives such as coupons to our consumers are deducted from gross sales and totaled $451,600 and $510,100 for the three months ended March 31, 2016 and 2015, respectively. ( l ) Advertising Costs Advertising costs are expensed as incurred. ( m ) Stock-based Compensation During the three months ended March 31, 2016, we granted options to acquire 3,000 shares of our common stock to one of our production personnel at a price of $1.20 per share, which vest ratably over 48 months, or upon a change in control under certain circumstances, and which expire after 10 years. During the three months ended March 31, 2015, we did not grant any stock options. The weighted average fair market value of the options granted in the first three months of 2016 was estimated on the date of grant, using a Black-Scholes option pricing model with the following assumptions: March 31, 2016 Expected life of options (using the “simplified” method) 10 years Average risk-free interest rate 1.5% Average expected volatility of stock 134% Expected dividend rate None Fair value of options granted $3,488 Compensation cost related to stock options recognized in operating results (included in general and administrative expenses) was $64,500 and $17,200 in the three months ended March 31, 2016 and 2015, respectively. Approximately $774,400 of total unrecognized compensation costs related to non-vested stock options is expected to be recognized over the next 12 – 60 months, depending on the vesting provisions of the options. There was no tax benefit from recording the non-cash expense as it relates to the options granted to employees, as these were qualified stock options which are not normally tax deductible. With respect to the non-cash expense associated with options granted to the non-employee directors, no tax benefit is recognized for the excess of the tax deduction over the book expense previously recognized due to the existence of as yet unutilized net operating losses. At such time as these operating losses have been utilized and a tax benefit is realized from the exercise of non-qualified stock options, a corresponding tax benefit may be recognized. ( n ) Operating Costs and Expenses Classification Cost of sales includes costs associated with manufacturing and distribution including labor, materials, freight-in, purchasing and receiving, quality control, internal transfer costs, repairs, maintenance and other indirect costs, as well as warehousing and distribution costs. We classify shipping and handling costs comprised primarily of freight-out as selling expenses. Other selling expenses consist primarily of wages and benefits for sales and sales support personnel, travel, brokerage commissions and promotional costs, as well as certain other indirect costs. Shipping and handling costs totaled $346,800 and $344,000 for the three months ended March 31, 2016 and 2015, respectively. General and administrative expenses consist primarily of wages and benefits associated with management and administrative support departments, business insurance costs, professional fees, office facility related expenses, and other general support costs. (o) Recently Issued Accounting Standards In February 2016, the FASB issued ASU No. 2016-02, “ Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, “ Compensation-Stock Compensation- Improvements to Employee Share-Based Payment Accounting, ” (“ASU 2016-09”), which involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Under the new standard, income tax benefits and deficiencies are to be recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should also recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess tax benefits should be classified along with other income tax cash flows as an operating activity. In regards to forfeitures, the entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. This ASU is effective for fiscal years beginning after December 15, 2016 including interim periods within that reporting period, however early adoption is permitted. We are currently assessing the impact, if any, that the adoption of ASU 2016-09 will have on our financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” In July 2015, the FASB issued ASU 2015-11, “ Simplifying the Measurement of Inventory

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Note 2 . Earnings per Share. Per share data is determined by using the weighted average number of common shares outstanding. Common equivalent shares are considered only for diluted earnings per share, unless considered anti-dilutive. Common equivalent shares, determined using the treasury stock method, result from stock options with exercise prices that are below the average market price of the common stock. Basic earnings per share include no dilution and are computed by dividing income available to common shareholders by the weighted-average number of shares outstanding during the period. Diluted earnings per share reflect the potential of securities that could share in our earnings. There were common stock equivalents of 969,500 and 397,500 shares outstanding at March 31, 2016 and 2015, respectively, consisting of stock options that were not included in the calculation of earnings per share because they would have been anti-dilutive. A reconciliation of the weighted average number of common shares outstanding for the three months end March 31, 2016 and 2015 is as follows: 2016 2015 Common shares outstanding, beginning of the year 11,710,745 11,549,789 Weighted average common shares issued 0 7,492 Weighted average number of common shares outstanding 11,710,745 11,557,281 Dilutive effect of common share equivalents 216,379 317,308 Diluted weighted average number of common shares outstanding 11,927,124 11,874,589 We have authorized 20,000,000 shares of preferred stock issuable in one or more series, none of which are issued or outstanding as of March 31, 2016.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Information	Note 3 . Segment Information. We operate in two different segments: household products and skin and hair care products. Our products are sold nationally and internationally (primarily Canada), directly through our sales force and indirectly through independent brokers and manufacturer’s representatives, to mass merchandisers, drugstores, supermarkets, hardware stores and other retail outlets and to wholesale distributors. We have chosen to organize our business around these segments based on differences in the products sold. Accounting policies for our segments are the same as those described in Note 1. We evaluate segment performance based on segment income or loss before income taxes. The following provides information on our segments for the three months ended March 31: 2016 2015 Household Skin and Household Skin and Net sales $ 1,592,900 $ 6,263,000 $ 1,613,300 $ 5,334,900 Cost of sales 674,700 3,182,400 759,800 2,979,600 Advertising expenses 289,300 196,800 101,200 146,000 Selling expenses 373,000 876,800 439,300 913,900 General and administrative expenses 422,500 530,600 405,100 504,100 Total operating costs and expenses 1,759,500 4,786,600 1,705,400 4,543,600 (Loss) income from operations (166,600 ) 1,476,400 (92,100 ) 791,300 Other income 1,300 4,900 1,000 3,100 Interest expense (1,600 ) (5,800 ) (1,800 ) (5,500 ) (Loss) income before income taxes $ (166,900 ) $ 1,475,500 $ (92,900 ) $ 788,900 Identifiable assets $ 6,844,500 $ 7,118,000 $ 6,126,700 $ 4,413,100 The following is a reconciliation of segment information to consolidated information for the three months ended March 31: 2016 2015 Net sales to external customers $ 7,855,900 $ 6,948,200 Consolidated income before income taxes $ 1,308,600 $ 696,000 Identifiable assets $ 13,962,500 $ 10,539,800 Corporate assets 2,989,300 1,243,400 Consolidated total assets $ 16,951,800 $ 11,783,200 Corporate assets noted above are comprised primarily of our cash, and property and equipment not directly associated with our manufacturing, warehousing, shipping and receiving activities.

Organization and Summary of Si9

Organization and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Principles of Consolidation	(b) Principles of Consolidation Our consolidated financial statements include our accounts and those of our wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated.
Basis of Presentation	(c) Basis of Presentation The Consolidated Statements of Operations, Consolidated Balance Sheets, and the Consolidated Statements of Cash Flows included in this Report have been prepared by the Company. In our opinion, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at March 31, 2016 and results of operations and cash flows for all periods have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These consolidated financial statements should be read in conjunction with our financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015. The results of operations for the period ended March 31, 2016 are not necessarily indicative of the operating results for the full year.
Use of Estimates	(d) Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the reported amounts in our financial statements of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include, but are not limited to, the realization of deferred tax assets, reserves for slow moving and obsolete inventory, customer returns and allowances, and stock-based compensation. Actual results could differ from our estimates.
Cash Equivalents	(e) Cash Equivalents We consider all highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash equivalents.
Sale of Accounts Receivable	(f) Sale of Accounts Receivable On November 3, 2008, effective as of October 31, 2008, we entered into a financing agreement with Summit Financial Resources, L.P. (“Summit”) for the purpose of providing working capital. The financing agreement with Summit was amended on March 12, 2009, March 16, 2011 (effective March 1, 2011) and June 29, 2012 (effective July 1, 2012). The agreement has a term that expires on January 1, 2017, but it may be renewed for additional 12 month periods unless either party elects to cancel in writing at least 60 days prior to January 1, 2017 and thereafter on the anniversary date of each 12 month period. The agreement provides for a factoring line up to $1.5 million and is secured primarily by accounts receivables, inventory, any lease in which we are a lessor and all investment property and guarantees by our active subsidiaries. Under the agreement, Summit will make loans at our request and in its discretion based on: (i) its purchases of our receivables, with recourse against us, at an advance rate of 85% (or such other percentage determined by Summit in its discretion) and (ii) our inventory not to exceed certain amounts, including an aggregate maximum of $500,000. Advances under the agreement have an interest rate of 1.0% over the prime rate (as published in The Wall Street Journal) for the accounts receivables portion of the advances and 2.5% over the prime rate for the inventory portion of the borrowings. At March 31, 2016, the prime rate was 3.50%. There is also an administrative fee of 0.85% per month on the average monthly outstanding loan on the receivable portion of any advance if the average quarterly loan in the prior quarter was less than or equal to $1,000,000, and 0.75% per month if the average quarterly loan in the prior quarter was greater than $1,000,000 and of 1.0% per month on the average monthly outstanding loan on the inventory portion of any advance. The agreement provides that neither we nor our active subsidiaries may engage in a change in control transaction without the prior written consent of Summit. Events of default include, but are not limited to, our failure to make a payment when due or a default occurring on any of our other indebtedness. In 2016 and 2015, we did not sell any of our accounts receivables to Summit. At March 31, 2016 and December 31, 2015 the entire credit line of $1.5 million was available for future factoring of accounts receivable invoices and borrowings secured by our inventory. We report these transactions as a secured borrowing rather than as a sale. As a result, affected accounts receivable, if any, are reported under the “Current Assets” section within our Consolidated Balance Sheets as “Trade receivables, net.” Similarly, the net liability owing to Summit, if any, appears as “Obligations collateralized by receivables and inventory” within the “Current Liabilities” section of our Consolidated Balance Sheets. Net proceeds received on obligations collateralized by receivables and inventory appear as “net cash provided (used) by operating activities” within the “Adjustment to reconcile net income to net cash used by operating activities” section of our Consolidated Statements of Cash Flows. On March 16, 2011, with the consent of Summit, we entered into a financing agreement with Wells Fargo Bank, National Association (“Wells Fargo”) for the purpose of further lowering the cost of borrowing associated with the financing of our accounts receivable and on January 29, 2016 we terminated our agreement with Wells Fargo due to Wal-Mart Stores, Inc. (“Wal-Mart”), changing its accounts payable policy. Pursuant to this agreement, we were able to sell accounts receivables from Wal-Mart at a discount to Wells Fargo; provided, however, that Wells Fargo could reject offers to purchase such receivables in its discretion. These receivables could be purchased by Wells Fargo at a cost to us equal to LIBOR plus 1.15% per annum. The LIBOR rate used depends on the days to maturity of the receivable sold, typically ranging from 102 to 105 days. At January 29, 2016, Wells Fargo used the 105-day LIBOR rate of 0.70%. During the three months ended March 31, 2016 and 2015, we sold approximately $306,800 and $1,055,000, respectively, of our relevant accounts receivable to Wells Fargo for approximately $305,200 and $1,050,600, respectively. The difference between the invoiced amount of the receivable and the cash that we received from Wells Fargo is a cost to us. This cost is in lieu of any cash discount our customer would have been allowed and, thus, is treated in a manner consistent with standard trade discounts granted to our customers. The reporting of the sale of accounts receivables to Wells Fargo is treated as a sale rather than as a secured borrowing. As a result, affected accounts receivables are relieved from the Company’s financial statements upon receipt of the cash proceeds.
Inventories	(g) Inventories Inventories consist of raw materials and finished goods and are stated at the lower of cost (first-in, first-out method) or market. We record a reserve for slow moving and obsolete products and raw materials. We estimate this reserve based upon historical and anticipated sales. Inventories were comprised of the following at: March 31, 2016 December 31, 2015 Finished goods $ 2,248,300 $ 2,101,300 Raw materials 3,062,300 2,717,300 Inventory reserve for obsolescence (120,000 ) (120,000 ) $ 5,190,600 $ 4,698,600
Property and Equipment	(h) Property and Equipment Property and equipment are recorded at historical cost. Depreciation is provided using the straight-line method over the estimated useful lives of the assets ranging from three to 20 years. Production equipment and production support equipment are estimated to have useful lives of 15 to 20 years and three to 10 years, respectively. Office furniture and office machines are estimated to have useful lives of 10 to 20 years and three to five years, respectively.
Financial Instruments	( i ) Financial Instruments Financial instruments which potentially subject us to concentrations of credit risk include cash and cash equivalents and trade receivables. We maintain our cash balances in the form of bank demand deposits with financial institutions that we believe are creditworthy. During the three months end March 31, 2016, we maintained balances in various operating accounts in excess of federally insured limits. We establish an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. We have no significant financial instruments with off-balance sheet risk of accounting loss, such as foreign exchange contracts, option contracts or other foreign currency hedging arrangements. The recorded amounts for cash and cash equivalents, receivables, other current assets, accounts payable and accrued expenses approximate fair value due to the short-term nature of these financial instruments. As of March 31, 2016 and December 31, 2015 we had no long-term debt.
Income Taxes	( j ) Income Taxes Deferred income tax assets and liabilities are recognized for the future income tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective income tax bases. A valuation allowance is provided when it is more-likely-than-not that some portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which related temporary differences become deductible. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Taxes are reported based on tax positions that meet a more-likely-than-not standard and that are measured at the amount that is more-likely-than-not to be realized. Differences between financial and tax reporting which do not meet this threshold are required to be recorded as unrecognized tax benefits or expense. We classify penalty and interest expense related to income tax liabilities as an income tax expense. There are no significant interest and penalties recognized in the statement of operations or accrued on the balance sheet. The effective tax rate for the three months ended March 31, 2016, was 42.2%, which differs from the statutory income tax rate due to permanent book to tax differences. As of December 31, 2014, the Company had a deferred tax asset of $0, net of a valuation allowance of $3,379,100. As of that date and until the second quarter of 2015, a full valuation allowance had been provided against deferred tax assets, as it was more-likely-than-not that the Company’s net deferred tax asset would not be realized in the foreseeable future due to the Company’s cumulative book loss. Consequently, the Company was unable to recognize any income tax benefit in such prior periods. However, the Company had, as of June 30, 2015, reported positive income for nine consecutive quarters and the 36 month cumulative income before income taxes was approximately $3.4 million. Accordingly, the Company as of June 30, 2015 released a portion of the valuation allowance related to the deferred tax asset of approximately $3.1 million as well as an additional $70,200 in the third quarter ended September 30, 2015. The analysis of the partial valuation allowance release was in accordance with accounting standards for interim period reporting. The remaining $169,200 in valuation allowance was released during the fourth quarter of 2015.
Revenue Recognition	( k ) Revenue Recognition Our revenue recognition policy is significant because the amount and timing of revenue is a key component of our results of operations. Certain criteria are required to be met in order to recognize revenue. If these criteria are not met, then the associated revenue is deferred until it is met. In our case, the criteria generally are met when we have an arrangement to sell a product, we have delivered the product in accordance with that arrangement, the sales price of the product is determinable and we believe that we will be paid for the sale. We establish reserves for customer returns of our products and customer allowances. We estimate these reserves based upon, among other things, an assessment of historical trends, information from customers and anticipated returns related to current sales activity. These reserves are established in the period of sale and reduce our revenue in that period. Our reserve for customer allowances includes primarily reserves for trade promotions to support price features, displays, slotting fees and other merchandising of our products to our customers. The actual level of returns and customer allowances are influenced by several factors, including the promotional efforts of our customers, changes in mix of our customers, changes in the mix of the products we sell and the maturity of the product. We may change our estimates based on actual results and consideration of other factors that cause returns and allowances. In the event that actual results differ from our estimates, the results of future periods may be impacted. We also establish reserves for coupons, rebates and certain other promotional programs for consumers. We estimate these reserves based upon, among other things, an assessment of historical trends and current sales activity. These reserves are recorded as a reduction of revenue at the later of the date at which the revenue is recognized or the date at which the sale incentive is offered. We have also established an allowance for doubtful accounts. We estimate this allowance based upon, among other things, an assessment of the credit risk of specific customers and historical trends. We believe our allowance for doubtful accounts is adequate to absorb any losses which may arise. In the event that actual losses differ from our estimates, the results of future periods may be impacted. At March 31, 2016 and December 31, 2015 approximately $745,800 and $1,179,700, respectively, had been reserved as a reduction of accounts receivable. Trade promotions to our customers and incentives such as coupons to our consumers are deducted from gross sales and totaled $451,600 and $510,100 for the three months ended March 31, 2016 and 2015, respectively.
Advertising Costs	( l ) Advertising Costs Advertising costs are expensed as incurred.
Stock-based Compensation	( m ) Stock-based Compensation During the three months ended March 31, 2016, we granted options to acquire 3,000 shares of our common stock to one of our production personnel at a price of $1.20 per share, which vest ratably over 48 months, or upon a change in control under certain circumstances, and which expire after 10 years. During the three months ended March 31, 2015, we did not grant any stock options. The weighted average fair market value of the options granted in the first three months of 2016 was estimated on the date of grant, using a Black-Scholes option pricing model with the following assumptions: March 31, 2016 Expected life of options (using the “simplified” method) 10 years Average risk-free interest rate 1.5% Average expected volatility of stock 134% Expected dividend rate None Fair value of options granted $3,488 Compensation cost related to stock options recognized in operating results (included in general and administrative expenses) was $64,500 and $17,200 in the three months ended March 31, 2016 and 2015, respectively. Approximately $774,400 of total unrecognized compensation costs related to non-vested stock options is expected to be recognized over the next 12 – 60 months, depending on the vesting provisions of the options. There was no tax benefit from recording the non-cash expense as it relates to the options granted to employees, as these were qualified stock options which are not normally tax deductible. With respect to the non-cash expense associated with options granted to the non-employee directors, no tax benefit is recognized for the excess of the tax deduction over the book expense previously recognized due to the existence of as yet unutilized net operating losses. At such time as these operating losses have been utilized and a tax benefit is realized from the exercise of non-qualified stock options, a corresponding tax benefit may be recognized.
Operating Costs and Expenses Classification	( n ) Operating Costs and Expenses Classification Cost of sales includes costs associated with manufacturing and distribution including labor, materials, freight-in, purchasing and receiving, quality control, internal transfer costs, repairs, maintenance and other indirect costs, as well as warehousing and distribution costs. We classify shipping and handling costs comprised primarily of freight-out as selling expenses. Other selling expenses consist primarily of wages and benefits for sales and sales support personnel, travel, brokerage commissions and promotional costs, as well as certain other indirect costs. Shipping and handling costs totaled $346,800 and $344,000 for the three months ended March 31, 2016 and 2015, respectively. General and administrative expenses consist primarily of wages and benefits associated with management and administrative support departments, business insurance costs, professional fees, office facility related expenses, and other general support costs.
Recently Issued Accounting Standards	(o) Recently Issued Accounting Standards In February 2016, the FASB issued ASU No. 2016-02, “ Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, “ Compensation-Stock Compensation- Improvements to Employee Share-Based Payment Accounting, ” (“ASU 2016-09”), which involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Under the new standard, income tax benefits and deficiencies are to be recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should also recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess tax benefits should be classified along with other income tax cash flows as an operating activity. In regards to forfeitures, the entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. This ASU is effective for fiscal years beginning after December 15, 2016 including interim periods within that reporting period, however early adoption is permitted. We are currently assessing the impact, if any, that the adoption of ASU 2016-09 will have on our financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” In July 2015, the FASB issued ASU 2015-11, “ Simplifying the Measurement of Inventory

Organization and Summary of S10

Organization and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Composition of Inventory	Inventories were comprised of the following at: March 31, 2016 December 31, 2015 Finished goods $ 2,248,300 $ 2,101,300 Raw materials 3,062,300 2,717,300 Inventory reserve for obsolescence (120,000 ) (120,000 ) $ 5,190,600 $ 4,698,600
Weighted Average Fair Market Value of the Options Granted Estimated on the Date of Grant Assumptions	The weighted average fair market value of the options granted in the first three months of 2016 was estimated on the date of grant, using a Black-Scholes option pricing model with the following assumptions: March 31, 2016 Expected life of options (using the “simplified” method) 10 years Average risk-free interest rate 1.5% Average expected volatility of stock 134% Expected dividend rate None Fair value of options granted $3,488

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Reconciliation of the Weighted Average Number of Common Shares Outstanding	A reconciliation of the weighted average number of common shares outstanding for the three months end March 31, 2016 and 2015 is as follows: 2016 2015 Common shares outstanding, beginning of the year 11,710,745 11,549,789 Weighted average common shares issued 0 7,492 Weighted average number of common shares outstanding 11,710,745 11,557,281 Dilutive effect of common share equivalents 216,379 317,308 Diluted weighted average number of common shares outstanding 11,927,124 11,874,589

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Information on Segments	The following provides information on our segments for the three months ended March 31: 2016 2015 Household Skin and Household Skin and Net sales $ 1,592,900 $ 6,263,000 $ 1,613,300 $ 5,334,900 Cost of sales 674,700 3,182,400 759,800 2,979,600 Advertising expenses 289,300 196,800 101,200 146,000 Selling expenses 373,000 876,800 439,300 913,900 General and administrative expenses 422,500 530,600 405,100 504,100 Total operating costs and expenses 1,759,500 4,786,600 1,705,400 4,543,600 (Loss) income from operations (166,600 ) 1,476,400 (92,100 ) 791,300 Other income 1,300 4,900 1,000 3,100 Interest expense (1,600 ) (5,800 ) (1,800 ) (5,500 ) (Loss) income before income taxes $ (166,900 ) $ 1,475,500 $ (92,900 ) $ 788,900 Identifiable assets $ 6,844,500 $ 7,118,000 $ 6,126,700 $ 4,413,100
Reconciliation of Segment Information	The following is a reconciliation of segment information to consolidated information for the three months ended March 31: 2016 2015 Net sales to external customers $ 7,855,900 $ 6,948,200 Consolidated income before income taxes $ 1,308,600 $ 696,000 Identifiable assets $ 13,962,500 $ 10,539,800 Corporate assets 2,989,300 1,243,400 Consolidated total assets $ 16,951,800 $ 11,783,200

Organization and Summary of S13

Organization and Summary of Significant Accounting Policies (Details Textual)	Jan. 29, 2016	Mar. 16, 2011	Mar. 31, 2011	Mar. 31, 2016USD ($)Segment	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Number of business segment | Segment				2
Expiration date of financing agreement				Jan. 1, 2017
Renewal period of agreement				12 months
Additional renewal Period of agreement				12 months
Cancelation period of agreement				at least 60 days
Account receivables				$ 1,500,000
Aggregate amount of inventory				$ 500,000
Percentage of administrative fees on receivable portion, Less Than or equal to $1000000				0.85%
Percentage of administrative fees on receivable portion, More Than $1000000				0.75%
Percentage of administrative fees on inventory portion				1.00%
Computation of administrative fees on receivable portion, Specified Amount for different rates				$ 1,000,000
Credit line available for future factoring of accounts receivables and borrowings secured by inventory				1,500,000			$ 1,500,000
Minimum
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Period to maturity of receivable sold			102 days
Maximum
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Period to maturity of receivable sold			105 days
Wells Fargo Bank
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Sale of account receivables				306,800	$ 1,055,000
Period of LIBOR rate used	105 days
Proceeds from sale of account receivable				$ 305,200	$ 1,050,600
Summit
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Percentage of advance rate of loan after March 1, 2011				85.00%
Sale of account receivables							$ 0
Summit | Scenario, Forecast
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Sale of account receivables						$ 0
Prime Rate
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Interest rate of agreement amount				3.50%
Prime Rate | Accounts Receivables
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Interest rate of agreement amount				1.00%
Prime Rate | Inventories
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Interest rate of agreement amount				2.50%
LIBOR | Wells Fargo Bank
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Interest rate of agreement amount	0.70%	1.15%

Organization and Summary of S14

Organization and Summary of Significant Accounting Policies - Inventories (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 2,248,300	$ 2,101,300
Raw materials	3,062,300	2,717,300
Inventory reserve for obsolescence	(120,000)	(120,000)
Inventories, net	$ 5,190,600	$ 4,698,600

Organization and Summary of S15

Organization and Summary of Significant Accounting Policies (Details Textual 1) - USD ($)	3 Months Ended		12 Months Ended	36 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Jun. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Significant financial instruments with off-balance sheet risk	$ 0
Long-term debt	0		$ 0
Interest and penalties recognized in statement of operations	0
Accrued interest or penalties related to uncertain tax positions	$ 0
Effective income tax rate	42.20%
Deferred tax assets, net						$ 0
Valuation allowance			169,200	$ 3,100,000	$ 70,200	$ 3,379,100
Cumulative income before income taxes	$ 1,308,600	$ 696,000		$ 3,400,000
Reserve for reduction in account receivable	745,800		$ 1,179,700
Trade promotions to customers	$ 451,600	$ 510,100
Minimum
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Useful life of property, plant and equipment	3 years
Maximum
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Useful life of property, plant and equipment	20 years
Production Equipment | Minimum
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Useful life of property, plant and equipment	15 years
Production Equipment | Maximum
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Useful life of property, plant and equipment	20 years
Production Support Equipment | Minimum
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Useful life of property, plant and equipment	3 years
Production Support Equipment | Maximum
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Useful life of property, plant and equipment	10 years
Office Furniture and Equipment | Minimum
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Useful life of property, plant and equipment	10 years
Office Furniture and Equipment | Maximum
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Useful life of property, plant and equipment	20 years
Office Equipment | Minimum
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Useful life of property, plant and equipment	3 years
Office Equipment | Maximum
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Useful life of property, plant and equipment	5 years

Organization and Summary of S16

Organization and Summary of Significant Accounting Policies (Details Textual 2) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Number of shares granted		0
Stock-based compensation	$ 64,500	$ 17,200
Unrecognized compensation costs related to non-vested stock options	774,400
Tax benefit from recording non-cash expense relates to options granted to employees	0
Shipping and handling costs	$ 346,800	344,000
Minimum
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Period over which compensation costs related to non-vested stock options recognize	12 months
Maximum
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Period over which compensation costs related to non-vested stock options recognize	60 months
General and Administrative Expense
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Stock-based compensation	$ 64,500	$ 17,200
One of Production Personnel
Schedule Of Organization And Presentation Of Financial Statements [Line Items]
Number of shares granted	3,000
Weighted average exercise price granted	$ 1.20
Options vesting period	48 months
Expiry of options	10 years

Organization and Summary of S17

Organization and Summary of Significant Accounting Policies - Assumptions Used in Determining Fair Value of Options Granted (Details)	3 Months Ended
	Mar. 31, 2016USD ($)
Accounting Policies [Abstract]
Expected life of options (using the “simplified” method)	10 years
Average risk-free interest rate	1.50%
Average expected volatility of stock	134.00%
Expected dividend rate	0.00%
Fair value of options granted	$ 3,488

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Preferred stock issuable	20,000,000
Preferred stock issued	0
Preferred stock outstanding	0
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities comprised of outstanding stock options	969,500	397,500

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Common shares outstanding, beginning of the year	11,710,745	11,549,789
Weighted average common shares issued	0	7,492
Weighted average number of common shares outstanding	11,710,745	11,557,281
Dilutive effect of common share equivalents	216,379	317,308
Diluted weighted average number of common shares outstanding	11,927,124	11,874,589

Segment Information (Details Te

Segment Information (Details Textual)	3 Months Ended
	Mar. 31, 2016Segment
Segment Reporting [Abstract]
Number of business segment	2

Segment Information (Details)

Segment Information (Details) - USD ($)	3 Months Ended		36 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net sales	$ 7,855,900	$ 6,948,200
Cost of sales	3,857,100	3,739,400
Advertising expenses	486,100	247,200
Selling expenses	1,249,800	1,353,200
General and administrative expenses	953,100	909,200
Total operating costs and expenses	6,546,100	6,249,000
Income from operations	1,309,800	699,200
Other income	6,200	4,100
Interest expense	(7,400)	(7,300)
Income before income taxes	1,308,600	696,000	$ 3,400,000
Total assets	16,951,800	11,783,200		$ 16,142,800
Household Products
Segment Reporting Information [Line Items]
Net sales	1,592,900	1,613,300
Cost of sales	674,700	759,800
Advertising expenses	289,300	101,200
Selling expenses	373,000	439,300
General and administrative expenses	422,500	405,100
Total operating costs and expenses	1,759,500	1,705,400
Income from operations	(166,600)	(92,100)
Other income	1,300	1,000
Interest expense	(1,600)	(1,800)
Income before income taxes	(166,900)	(92,900)
Total assets	6,844,500	6,126,700
Skin And Hair Care Products
Segment Reporting Information [Line Items]
Net sales	6,263,000	5,334,900
Cost of sales	3,182,400	2,979,600
Advertising expenses	196,800	146,000
Selling expenses	876,800	913,900
General and administrative expenses	530,600	504,100
Total operating costs and expenses	4,786,600	4,543,600
Income from operations	1,476,400	791,300
Other income	4,900	3,100
Interest expense	(5,800)	(5,500)
Income before income taxes	1,475,500	788,900
Total assets	$ 7,118,000	$ 4,413,100

Segment Information (Details 1)

Segment Information (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Reconciliation of segment information
Net sales to external customers	$ 7,855,900	$ 6,948,200
Consolidated income before income taxes	1,308,600	696,000
Total assets	16,951,800	11,783,200	$ 16,142,800
Operating Segments
Reconciliation of segment information
Total assets	13,962,500	10,539,800
Corporate, Non-Segment
Reconciliation of segment information
Total assets	$ 2,989,300	$ 1,243,400