Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation Our consolidated financial statements include our accounts, those of our wholly-owned subsidiaries, and our majority-owned Polish subsidiary, PF Medical, after elimination of all significant intercompany accounts and transactions. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates When the Company prepares financial statements in conformity with accounting standards generally accepted in the United States of America (“US GAAP”), the Company makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as, the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. See Notes 9, 12, 13 14 |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash During the first 2016, December 31, 2015 $35,000 2014. |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Accounts Receivable Accounts receivable are customer obligations due under normal trade terms requiring payment within 30 60 60 100% 60 The following table set forth the activity in the allowance for doubtful accounts for the years ended December 31, 2016 2015 Year Ended December 31, 2016 2015 Allowance for doubtful accounts-beginning of year $ 1,474 $ 2,170 Net recovery of bad debt reserve (314 ) (433 ) Write-off (888 ) (263 ) Allowance for doubtful accounts-end of year $ 272 $ 1,474 Retainage receivables represent amounts that are billed or billable to our customers, but are retained by the customer until completion of the project or as otherwise specified in the contract. Our retainage receivable balances are all current. Retainage receivables of approximately $0 $229,000 December 31, 2016 2015, |
Trade and Other Accounts Receivable, Unbilled Receivables, Policy [Policy Text Block] | Unbilled Receivables Unbilled receivables are generated by differences between invoicing timing and our proportional performance based methodology used for revenue recognition purposes. As major processing and contract completion phases are completed and the costs are incurred, the Company recognizes the corresponding percentage of revenue. Within our Treatment Segment, the facilities experience delays in processing invoices due to the complexity of the documentation that is required for invoicing, as well as the difference between completion of revenue recognition milestones and agreed upon invoicing terms, which results in unbilled receivables. The timing differences occur for several reasons: partially from delays in the final processing of all wastes associated with certain work orders and partially from delays for analytical testing that is required after the facilities have processed waste but prior to our release of waste for disposal. The tasks relating to these delays usually take several months to complete. As the Company now has historical data to review the timing of these delays, the Company realizes that certain issues, including, but not limited to, delays at our third twelve Unbilled receivables within our Services Segment can result from: (1) (2) |
Inventory, Policy [Policy Text Block] | Inventories Inventories consist of treatment chemicals, saleable used oils, and certain supplies. Additionally, the Company has replacement parts in inventory, which are deemed critical to the operating equipment and may first first |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment expenditures are capitalized and depreciated using the straight-line method over the estimated useful lives of the assets for financial statement purposes, while accelerated depreciation methods are principally used for income tax purposes. Generally, asset lives range from ten forty three seven In accordance with Accounting Standards Codification (“ASC”) 360, may During the second 2016, $1,816,000 January 2018 3 Our depreciation expense totaled approximately $3,717,000 $3,246,000 2016 2015, |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Intangible Assets Intangible assets consist primarily of the recognized value of the permits required to operate our business. We continually monitor the propriety of the carrying amount of our permits to determine whether current events and circumstances warrant adjustments to the carrying value. Indefinite-lived intangible assets are not amortized but are reviewed for impairment annually as of October 1, may forecasted revenue, gross margin, growth rate, operating income, timing of expected future cash flows, and the determination of appropriate long term discount rates. During the second 2016, 3 October 1, 2016 no October 1, 2015 no December 31, 2015. Intangible assets that have definite useful lives are amortized using the straight-line method over the estimated useful lives (with the exception of customer relationships which are amortized using an accelerated method) and are excluded from our annual intangible asset valuation review as of October 1. one |
Research and Development Expense, Policy [Policy Text Block] | Research and Development (“R&D”) Operational innovation and technical know-how is very important to the success of our business. Our goal is to discover, develop, and bring to market innovative ways to process waste that address unmet environmental needs and to develop new company service offerings. The Company conducts research internally and also through collaborations with other third third 730, $1,489,000 $2,114,000 December 31, 2016 2015, |
Asset Retirement Obligations, Policy [Policy Text Block] | Accrued Closure Costs and Asset Retirement Obligations (“ARO”) Accrued closure costs represent our estimated environmental liability to clean up our facilities, as required by our permits, in the event of closure. ASC 410, |
Income Tax, Policy [Policy Text Block] | Income Taxes Income taxes are accounted for in accordance with ASC 740, 740, ASC 740 13 ASC 740 740 two 50% 740 The Company reassesses the validity of our conclusions regarding uncertain income tax positions on a quarterly basis to determine if facts or circumstances have arisen that might cause us to change our judgment regarding the likelihood of a tax position’s sustainability under audit. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency The Company’s foreign subsidiaries include PF UK Limited, PF Canada and PF Medical. Assets and liabilities are translated to U.S. dollars at the exchange rate in effect at the balance sheet date and revenue and expenses at the average exchange rate for the period. Foreign currency translation adjustments for these subsidiaries are accumulated as a separate component of accumulated other comprehensive income (loss) in stockholders’ equity. Gains and losses resulting from foreign currency transactions are recognized in the Consolidated Statements of Operations. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration Risk The Company performed services relating to waste generated by the federal government, either directly as a prime contractor or indirectly for others as a subcontractor to the federal government, representing approximately $27,354,000 53.4% 2016, $36,105,000 57.9% 2015. Revenue generated by one $9,763,000 19.1% twelve December 31, 2016. March 2016 December 2016. custome $10,686,000 17.1% twelve December 31, 2015. December 2015. As our revenues are project/event based where the completion of one may one one Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and accounts receivable. The Company maintains cash with high quality financial institutions, which may The Company has two 10.1% 20.8% December 31, 2016. one 16.2% December 31, 2015. |
Gross Receipts Taxes and Other Charges [Policy Text Block] | Gross Receipts Taxes and Other Charges ASC 605 45, |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Treatment Segment r evenues. may three may Services Segment revenues Under cost reimbursement contracts, the Services Segment is reimbursed for costs incurred plus a certain percentage markup for indirect costs, in accordance with contract provisions. Costs incurred in excess of contract funding may Contract costs include all direct labor, material and other non-labor costs and those indirect costs related to contract support, such as depreciation, fringe benefits, overhead labor, supplies, tools, repairs and equipment rental. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions and estimated profitability, including those arising from contract penalty provisions and final contract settlements, may |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC 718, ASC 718 The Company recognizes stock-based compensation expense using a straight-line amortization method over the requisite service period, which is the vesting period of the stock option grant. As ASC 718 |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income (Loss) The components of comprehensive income (loss) are net income (loss) and the effects of foreign currency translation adjustments. |
Earnings Per Share, Policy [Policy Text Block] | Income (Loss) Per Share Basic income (loss) per share is calculated based on the weighted-average number of outstanding common shares during the applicable period. Diluted income (loss) per share is based on the weighted-average number of outstanding common shares plus the weighted-average number of potential outstanding common shares. In periods where they are anti-dilutive, such amounts are excluded from the calculations of dilutive earnings per share. Income (loss) per share is computed separately for each period presented. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value of Financial Instruments Certain assets and liabilities are required to be recorded at fair value on a recurring basis, while other assets and liabilities are recorded at fair value on a nonrecurring basis. Fair value is determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The three Level 1 — Level 2 — 1, Level 3 — Financial instruments include cash and restricted cash (Level 1), 3). December 31, 2016 December 31, 2015, |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards In April 2015, 2015 03, 2015 03 charge asset. It is effective for annual reporting periods beginning after December 15, 2015 The Company adopted ASU 2015 03 first 2016. 2015 03 2015 03 $152,000, $27,000, $125,000 December 31, 2015 In August 2014, 2014 15, 2014 15 first December 15, 2016. 2014 15 fourth 2016 1 In July 2015, 2015 11, 330): 2015 11 first first first December 15, 2016. 2015 11 fourth 2016 In March 2016, 2016 09, 718): 2016 09 2016 09 effective for interim and annual periods beginning after December 15, 2016. 2015 11 |
New Accounting Pronouncements not yet Adopted, Policy [Policy Text Block] | Recently Issued Accounting Standards – Not Yet Adopted In May 2014, 2014 09, 606)," 2014 09 2014 09 2014 09 2014 09, December 15, 2016 2014 09 may In February 2016, 2016 02, 842).” 2016 02, 2016 02 2016 02 December 15, 2018, In August 2016, 2016 15, 230): 230, November 2016, 2016 18, 230), 2016 15 2016 18 December 15, 2017. In October 2016, 2016 16 , 740): 2016 16, 2016 16 December 15, 2017, |