Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | ||
Sep. 30, 2013 | Oct. 30, 2013 | Oct. 30, 2013 | |
Common Class A [Member] | Common Class B [Member] | ||
Document Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'TAITRON COMPONENTS INC | ' | ' |
Document Type | '10-Q | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 4,777,144 | 762,612 |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0000942126 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Current Assets: | ' | ' |
Cash and cash equivalents | $2,633,000 | $2,475,000 |
Restricted cash (Note 4) | 0 | 100,000 |
Accounts receivable, less allowances of $62,000 and $87,000, respectively | 870,000 | 853,000 |
Inventories, less reserves for obsolescence of $5,714,000, and $5,108,000, respectively | 10,250,000 | 10,986,000 |
Prepaid expenses and other current assets | 80,000 | 66,000 |
Total current assets | 13,833,000 | 14,480,000 |
Property and equipment, net | 4,499,000 | 4,630,000 |
Other assets (Note 5) | 1,444,000 | 1,297,000 |
Total assets | 19,776,000 | 20,407,000 |
Current Liabilities: | ' | ' |
Accounts payable | 695,000 | 668,000 |
Accrued liabilities | 393,000 | 428,000 |
Current portion of long-term debt from related party (Note 6) | 0 | 1,500,000 |
Total current liabilities | 1,088,000 | 2,596,000 |
Long-term debt from related party (Note 6) | 1,500,000 | 0 |
Total Liabilities | 2,588,000 | 2,596,000 |
Commitments and contingencies (Notes 6, 8 and 9) | ' | ' |
Shareholdersb Equity: | ' | ' |
Preferred stock, $0.001 par value. Authorized 5,000,000 shares; None issued or outstanding | 0 | 0 |
Additional paid-in capital | 10,654,000 | 10,635,000 |
Accumulated other comprehensive income | 131,000 | 128,000 |
Retained earnings | 6,275,000 | 6,892,000 |
Total Shareholdersb Equity - Taitron Components Inc | 17,066,000 | 17,661,000 |
Noncontrolling interest in subsidiary | 122,000 | 150,000 |
Total Shareholdersb Equity | 17,188,000 | 17,811,000 |
Total Liabilities and Shareholdersb Equity | 19,776,000 | 20,407,000 |
Common Class A [Member] | ' | ' |
Shareholdersb Equity: | ' | ' |
Common Stock, value, issued | 5,000 | 5,000 |
Common Class B [Member] | ' | ' |
Shareholdersb Equity: | ' | ' |
Common Stock, value, issued | $1,000 | $1,000 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Accounts receivable, allowances (in Dollars) | $62,000 | $87,000 |
Inventories, reserves for obsolescence (in Dollars) | $5,714,000 | $5,108,000 |
Preferred stock, par value (in Dollars per share) | $0.00 | $0.00 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common Class A [Member] | ' | ' |
Common stock par value (in Dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 4,777,144 | 4,777,144 |
Common stock, shares outstanding | 4,777,144 | 4,777,144 |
Common Class B [Member] | ' | ' |
Common stock par value (in Dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 762,612 | 762,612 |
Common stock, shares issued | 762,612 | 762,612 |
Common stock, shares outstanding | 762,612 | 762,612 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Net sales | $1,574,000 | $1,945,000 | $4,869,000 | $5,045,000 |
Cost of goods sold | 1,203,000 | 1,518,000 | 3,807,000 | 3,992,000 |
Gross profit | 371,000 | 427,000 | 1,062,000 | 1,053,000 |
Selling, general and administrative expenses | 575,000 | 609,000 | 1,784,000 | 1,849,000 |
Operating loss | -204,000 | -182,000 | -722,000 | -796,000 |
Interest expense, net | -9,000 | -8,000 | -25,000 | -25,000 |
Other income, net | 36,000 | 27,000 | 102,000 | 73,000 |
Loss before income taxes | -177,000 | -163,000 | -645,000 | -748,000 |
Income tax provision | -1,000 | -1,000 | -2,000 | -2,000 |
Net loss | -178,000 | -164,000 | -647,000 | -750,000 |
Net loss attributable to noncontrolling interest in subsidiary | -1,000 | -9,000 | -30,000 | -25,000 |
Net loss attributable to Taitron Components Inc. | -177,000 | -155,000 | -617,000 | -725,000 |
Net loss per share: Basic & Diluted (in Dollars per share) | ($0.03) | ($0.03) | ($0.12) | ($0.14) |
Weighted average common shares outstanding: Basic & Diluted (in Shares) | 5,539,756 | 5,539,756 | 5,539,756 | 5,539,756 |
Net loss | -178,000 | -164,000 | -647,000 | -750,000 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Foreign currency translation adjustment | 0 | -2,000 | 3,000 | 2,000 |
Comprehensive loss | -178,000 | -166,000 | -644,000 | -748,000 |
Comprehensive loss attributable to noncontrolling interests | 0 | -9,000 | -28,000 | -25,000 |
Comprehensive loss attributable to Taitron Components Inc. | ($178,000) | ($157,000) | ($616,000) | ($723,000) |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Operating activities: | ' | ' |
Net loss | ($647,000) | ($750,000) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 140,000 | 161,000 |
Provision for sales returns and doubtful accounts | 59,000 | 19,000 |
Stock based compensation | 19,000 | 13,000 |
Changes in assets and liabilities: | ' | ' |
Restricted cash | 100,000 | 100,000 |
Trade accounts receivable | -76,000 | -306,000 |
Inventory | 736,000 | 1,048,000 |
Prepaid expenses and other current assets | -14,000 | -3,000 |
Trade accounts payable | 27,000 | 224,000 |
Accrued liabilities | -35,000 | 33,000 |
Other assets and liabilities | -10,000 | -2,000 |
Total adjustments | 946,000 | 1,287,000 |
Net cash provided by operating activities | 299,000 | 537,000 |
Investing activities: | ' | ' |
Acquisition of property & equipment | -9,000 | -16,000 |
Payments for investment in joint venture | -294,000 | 0 |
Payments for investment in securities | 0 | -350,000 |
Return of capital from investment in joint venture | 159,000 | 0 |
All other investing activity | 0 | 0 |
Net cash used for investing activities | -144,000 | -366,000 |
Impact of exchange rates on cash | 3,000 | 2,000 |
Net increase in cash and cash equivalents | 158,000 | 173,000 |
Cash and cash equivalents, beginning of period | 2,475,000 | 1,905,000 |
Cash and cash equivalents, end of period | 2,633,000 | 2,078,000 |
Supplemental disclosures of cash flow information: | ' | ' |
Cash paid for interest | 39,000 | 39,000 |
Cash paid for income taxes, net | $3,000 | $3,000 |
1_ORGANIZATION
1 - ORGANIZATION | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
1 – ORGANIZATION | |
In 1989, we were formed and incorporated in California. We maintain a majority-owned subsidiary in Mexico (since 1998) and two subsidiaries in each of Taiwan (since 1998) and China (since 2005). Our Mexico location is for regional distribution, sales and marketing purposes and our Taiwan and China locations are for supporting inventory sourcing, purchases and coordinating the manufacture of our products. Our China location also serves as the engineering center responsible for making component datasheets and test specifications, arranging pre-production and mass production at our outsourced manufacturers, preparing samples, monitoring quality of shipments, performing failure analysis reports, and designing circuits with partners for our projects. | |
2_BASIS_OF_PRESENTATION
2 - BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Business Description and Basis of Presentation [Text Block] | ' |
2 – BASIS OF PRESENTATION | |
The unaudited consolidated interim financial statements include the accounts of the Company and all wholly owned subsidiaries, including its 60% majority-owned subsidiary, Taitron Components Mexico, S.A. de C.V. All significant intercompany accounts and transactions have been eliminated in consolidation. | |
These unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments of a normal recurring nature and considered necessary for a fair presentation of its financial condition and results of operations for the interim periods presented in this Quarterly Report on Form 10-Q have been included. Operating results for the interim periods are not necessarily indicative of financial results for the full year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. In preparing these financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates and assumptions included in the Company’s consolidated financial statements relate to the allowance for sales returns, doubtful accounts, inventory reserves, accrued liabilities and deferred income taxes. Certain amounts in the prior year consolidated financial statements have been reclassified to conform to the current year presentation. | |
3_RECENT_ACCOUNTING_DEVELOPMEN
3 - RECENT ACCOUNTING DEVELOPMENTS | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ' |
3 – RECENT ACCOUNTING DEVELOPMENTS | |
Recently Adopted Accounting Pronouncements | |
Effective January 2013, we adopted FASB ASU No. 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities (ASU 2011-11). The amendments in ASU 2011-11 require the disclosure of information on offsetting and related arrangements for financial and derivative instruments to enable users of its financial statements to understand the effect of those arrangements on its financial position. Amendments under ASU 2011-11 will be applied retrospectively for fiscal years, and interim periods within those years, beginning after January 1, 2013. The adoption of this update did not have a material impact on the consolidated financial statements. | |
Effective January 2013, we adopted FASB ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive (ASU 2013-02). This guidance is the culmination of the FASB’s deliberation on reporting reclassification adjustments from accumulated other comprehensive income (AOCI). The amendments in ASU 2013-02 do not change the current requirements for reporting net income or other comprehensive income. However, the amendments require disclosure of amounts reclassified out of AOCI in its entirety, by component, on the face of the statement of operations or in the notes thereto. Amounts that are not required to be reclassified in their entirety to net income must be cross-referenced to other disclosures that provide additional detail. This standard is effective prospectively for annual and interim reporting periods beginning after December 15, 2012. The adoption of this update did not have a material impact on the consolidated financial statements. | |
New Accounting Pronouncements Not Yet Adopted | |
In February 2013, the FASB issued ASU No. 2013-04, Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date. The amendments in ASU 2013-04 provide guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this Update is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. GAAP. The guidance requires an entity to measure those obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance in this Update also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. The amendments in this standard are effective retrospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. We are evaluating the effect, if any, adoption of ASU No. 2013-04 will have on our consolidated financial statements. | |
In March 2013, the FASB issued ASU No. 2013-05, Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. The amendments in ASU No. 2013-05 resolve the diversity in practice about whether Subtopic 810-10, Consolidation—Overall, or Subtopic 830-30, Foreign Currency Matters—Translation of Financial Statements, applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. In addition, the amendments in this Update resolve the diversity in practice for the treatment of business combinations achieved in stages (sometimes also referred to as step acquisitions) involving a foreign entity. The amendments in this standard are effective prospectively for fiscal years, and interim reporting periods within those years, beginning December 15, 2013. We are evaluating the effect, if any, adoption of ASU No. 2013-05 will have on our consolidated financial statements. | |
4_RESTRICTED_CASH
4 - RESTRICTED CASH | 9 Months Ended |
Sep. 30, 2013 | |
Policy Text Block [Abstract] | ' |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | ' |
4 – RESTRICTED CASH | |
At September 30, 2013 and December 31, 2012, we had $0 and $100,000, respectively, of restricted cash on deposit as collateral for our irrevocable letter of credit in favor of a trade vendor for inventory purchasing. | |
5_OTHER_ASSETS
5 - OTHER ASSETS | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||
Other Assets Disclosure [Text Block] | ' | ||||||||
5 – OTHER ASSETS | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(Unaudited) | |||||||||
Investment in securitites - Zowie Technology | $ | 437,000 | $ | 423,000 | |||||
Investment in joint venture - Taiteam Technology | - | 147,000 | |||||||
Investment in joint venture - Grand Shine Mgmt | 997,000 | 703,000 | |||||||
Other | 10,000 | 24,000 | |||||||
Other Assets | $ | 1,444,000 | $ | 1,297,000 | |||||
Our $437,000 investment in securities as of September 30, 2013 relates to our ownership of 154,808 common shares and 1,007,902 preferred shares of Zowie Technology Corporation (Taipei Hsien, Taiwan), a supplier of electronic component products. Our investment relates to 3.5% of their total outstanding shares and we do not have significant influence or control. This investment is accounted for under the cost method basis of accounting. | |||||||||
Our $147,000 investment in Taiteam (Yangzhou) Technology Corporation Limited (Yangzhou, China) was returned during the quarter ended September 30, 2013. This joint venture was liquidated and capital returned during July 2013. | |||||||||
Our $997,000 investment in joint venture as of September 30, 2013, relates to our 49% ownership of Grand Shine Management Limited (Dong Guan, China), an electronic device contract manufacturer, and joint venture with its 51% owner, Teamforce Company Limited. This joint venture is not considered to be a “Variable Interest Entity”, and as such, is accounted for under the equity method basis of accounting. | |||||||||
6_LONGTERM_DEBT_FROM_RELATED_P
6 - LONG-TERM DEBT FROM RELATED PARTY | 9 Months Ended |
Sep. 30, 2013 | |
Debt Disclosure [Abstract] | ' |
Debt Disclosure [Text Block] | ' |
6 – LONG-TERM DEBT FROM RELATED PARTY | |
Secured credit facility - On April 21, 2008 we entered into a $3,000,000 credit facility, collateralized by real property, from K.S. Best International Co. Ltd., a company controlled by the brother of our Chief Executive Officer. On April 12, 2013 we renewed and extended maturities to June 30, 2015 and beyond. Credit is available in $500,000 advances, each advance payable in monthly interest only installments, at the rate of Prime + 0.25% per annum. As of September 30, 2013 and December 31, 2012, the aggregate outstanding balance on this credit facility was $1,500,000. The advance history of the credit line is such that on June 3, 2008, we borrowed $500,000, on April 3, 2009, we borrowed $500,000 and on April 1, 2010, we borrowed $500,000. All advances are due from June 30, 2015 to June 30, 2017. | |
7_RELATED_PARTY_TRANSACTIONS
7 - RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
7 – RELATED PARTY TRANSACTIONS | |
We made payments of approximately $6,000 for both of the quarters ending September 30, 2013 and 2012, to K.S. Best International Co. Ltd., a company controlled by the brother of our Chief Executive Officer. These payments were for professional fees related to the operational management of our Taiwan office. In addition, we also made payments of $13,000 for both of the quarters ended September 30, 2013 and 2012, for interest expense on our credit facility from K.S. Best International Co. Ltd. See Note 6. | |
We have a $3,000,000 credit facility, collateralized by real property, from K.S. Best International Co. Ltd., a company controlled by the brother of our Chief Executive Officer. See Note 6 for additional details. | |
8_SHARE_BASED_COMPENSATION
8 - SHARE BASED COMPENSATION | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||
8 – SHARE BASED COMPENSATION | |||||||||||||||||
Accounting for stock options issued to employees measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award. Outstanding options to purchase Class A common stock (“the Options”) vest in three equal annual installments beginning one year from the date of grant and are subject to termination provisions as defined in our 2005 Stock Incentive Plan. The fair value of options was determined using the Black-Scholes option-pricing model with the following weighted average assumptions for 2013: dividend yield of 0%,; expected volatility of 40%; risk free interest rate of approximately 2.13% and an expected holding period of five years. We granted 20,000 shares of options and forfeited 67,000 shares of options during the nine months ended September 30, 2013. The option activity during the three months ended September 30, 2013 is as follows: | |||||||||||||||||
Number of Shares | Weighted Average Exercise Price | Weighted Average Years Remaining Contractual Term | Aggregate Intrinsic Value | ||||||||||||||
Outstanding at December 31, 2012 | 454,500 | $ | 1.35 | 4.6 | $ | 12,000 | |||||||||||
Grants | 20,000 | 0.92 | 8.7 | ||||||||||||||
Forfeited | (67,000 | ) | 1.22 | ||||||||||||||
Outstanding at September 30, 2013 | 407,500 | 1.35 | 4.6 | $ | 15,400 | ||||||||||||
Exercisable at September 30, 2013 | 288,167 | $ | 1.47 | 3.8 | $ | 8,300 | |||||||||||
At September 30, 2013 the range of individual outstanding weighted average exercise prices was $0.93 to $1.80. | |||||||||||||||||
9_INCOME_TAXES
9 - INCOME TAXES | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
9 – INCOME TAXES | |
As of September 30, 2013, we had approximately $251,000 and $871,000 in net operating loss carryforwards for federal and state income tax purposes, respectively. In assessing the realizability of the deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. We consider the scheduled reversal of deferred tax assets, the level of historical taxable income and tax planning strategies in making the assessment of the realizability of deferred tax assets. | |
At September 30, 2013, we have $2,389,000 of unrecognized tax benefits. We will continue to classify income tax penalties and interest, if any, as part of interest and other expenses in its statements of operations. We have incurred no interest or penalties as of September 30, 2013. | |
10_COMMITMENTS_AND_CONTINGENCI
10 - COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
10 – COMMITMENTS AND CONTINGENCIES | |
Inventory Purchasing | |
Outstanding commitments to purchase inventory from suppliers aggregated $2,000,000 as of September 30, 2013. | |
5_OTHER_ASSETS_Tables
5 - OTHER ASSETS (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||
Schedule of Other Assets [Table Text Block] | ' | ||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(Unaudited) | |||||||||
Investment in securitites - Zowie Technology | $ | 437,000 | $ | 423,000 | |||||
Investment in joint venture - Taiteam Technology | - | 147,000 | |||||||
Investment in joint venture - Grand Shine Mgmt | 997,000 | 703,000 | |||||||
Other | 10,000 | 24,000 | |||||||
Other Assets | $ | 1,444,000 | $ | 1,297,000 |
8_SHARE_BASED_COMPENSATION_Tab
8 - SHARE BASED COMPENSATION (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | 'Accounting for stock options issued to employees measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award. Outstanding options to purchase Class A common stock (“the Options”) vest in three equal annual installments beginning one year from the date of grant and are subject to termination provisions as defined in our 2005 Stock Incentive Plan. The fair value of options was determined using the Black-Scholes option-pricing model with the following weighted average assumptions for 2013: dividend yield of 0%,; expected volatility of 40%; risk free interest rate of approximately 2.13% and an expected holding period of five years. We granted 20,000 shares of options and forfeited 67,000 shares of options during the nine months ended September 30, 2013. The option activity during the three months ended September 30, 2013 is as follows: | ||||||||||||||||
Number of Shares | Weighted Average Exercise Price | Weighted Average Years Remaining Contractual Term | Aggregate Intrinsic Value | ||||||||||||||
Outstanding at December 31, 2012 | 454,500 | $ | 1.35 | 4.6 | $ | 12,000 | |||||||||||
Grants | 20,000 | 0.92 | 8.7 | ||||||||||||||
Forfeited | (67,000 | ) | 1.22 | ||||||||||||||
Outstanding at September 30, 2013 | 407,500 | 1.35 | 4.6 | $ | 15,400 | ||||||||||||
Exercisable at September 30, 2013 | 288,167 | $ | 1.47 | 3.8 | $ | 8,300 |
2_BASIS_OF_PRESENTATION_Detail
2 - BASIS OF PRESENTATION (Details) (Taitron Components Mexico [Member]) | 9 Months Ended |
Sep. 30, 2013 | |
Taitron Components Mexico [Member] | ' |
2 - BASIS OF PRESENTATION (Details) [Line Items] | ' |
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions | 60.00% |
4_RESTRICTED_CASH_Details
4 - RESTRICTED CASH (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Policy Text Block [Abstract] | ' | ' |
Restricted Cash and Cash Equivalents, Current | $0 | $100,000 |
5_OTHER_ASSETS_Details
5 - OTHER ASSETS (Details) | Sep. 30, 2013 |
Zowie Technology [Member] | Common Shares [Member] | ' |
5 - OTHER ASSETS (Details) [Line Items] | ' |
Investment Owned, Balance, Shares (in Shares) | 154,808 |
Zowie Technology [Member] | Preferred Shares [Member] | ' |
5 - OTHER ASSETS (Details) [Line Items] | ' |
Investment Owned, Balance, Shares (in Shares) | 1,007,902 |
Zowie Technology [Member] | ' |
5 - OTHER ASSETS (Details) [Line Items] | ' |
Equity Method Investment, Ownership Percentage | 3.50% |
Grand Shine Management Limited [Member] | Joint Venture [Member] | Taitron Components Incorporated [Member] | ' |
5 - OTHER ASSETS (Details) [Line Items] | ' |
Equity Method Investment, Ownership Percentage | 49.00% |
Joint Venture [Member] | Teamforce Company Limited [Member] | ' |
5 - OTHER ASSETS (Details) [Line Items] | ' |
Equity Method Investment, Ownership Percentage | 51.00% |
5_OTHER_ASSETS_Details_Schedul
5 - OTHER ASSETS (Details) - Schedule of Other Assets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
5 - OTHER ASSETS (Details) - Schedule of Other Assets [Line Items] | ' | ' |
Other | $10,000 | $24,000 |
Other Assets | 1,444,000 | 1,297,000 |
Zowie Technology [Member] | ' | ' |
5 - OTHER ASSETS (Details) - Schedule of Other Assets [Line Items] | ' | ' |
Investments | 437,000 | 423,000 |
Taiteam Technology Corporation Limited [Member] | ' | ' |
5 - OTHER ASSETS (Details) - Schedule of Other Assets [Line Items] | ' | ' |
Investments | 0 | 147,000 |
Grand Shine Management Limited [Member] | ' | ' |
5 - OTHER ASSETS (Details) - Schedule of Other Assets [Line Items] | ' | ' |
Investments | $997,000 | $703,000 |
6_LONGTERM_DEBT_FROM_RELATED_P1
6 - LONG-TERM DEBT FROM RELATED PARTY (Details) (Line of Credit [Member], USD $) | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2013 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2012 | |
6 - LONG-TERM DEBT FROM RELATED PARTY (Details) [Line Items] | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | $1,500,000 | ' | ' | ' | $1,500,000 |
Proceeds from Secured Lines of Credit | ' | 500,000 | 500,000 | 500,000 | ' |
Debt Instrument, Maturity Date, Description | 'All advances are due from June 30, 2015 to June 30, 2017. | ' | ' | ' | ' |
Immediate Family Member of Management or Principal Owner [Member] | ' | ' | ' | ' | ' |
6 - LONG-TERM DEBT FROM RELATED PARTY (Details) [Line Items] | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | $3,000,000 | ' | ' | ' | ' |
Line of Credit Facility, Collateral | 'collateralized by real property | ' | ' | ' | ' |
Line of Credit Facility, Description | 'Credit is available in $500,000 advances | ' | ' | ' | ' |
Line of Credit Facility, Frequency of Payment and Payment Terms | 'each advance payable in monthly interest only installments | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate Description | 'Prime + 0.25% | ' | ' | ' | ' |
7_RELATED_PARTY_TRANSACTIONS_D
7 - RELATED PARTY TRANSACTIONS (Details) (A Company Controlled By Immediate Family Member [Member], USD $) | 9 Months Ended | 3 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Line of Credit [Member] | Line of Credit [Member] | |||
7 - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ' | ' | ' | ' |
Related Party Transaction, Amounts of Transaction | ' | ' | $6,000 | $6,000 |
Related Party Transaction, Description of Transaction | ' | ' | 'professional fees related to the operational management of our Taiwan office | 'professional fees related to the operational management of our Taiwan office |
Interest Paid | 13,000 | 13,000 | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | $3,000,000 | ' | ' | ' |
8_SHARE_BASED_COMPENSATION_Det
8 - SHARE BASED COMPENSATION (Details) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
8 - SHARE BASED COMPENSATION (Details) [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 40.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.13% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '5 years |
2005 Stock Incentive Plan [Member] | ' |
8 - SHARE BASED COMPENSATION (Details) [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | 'three equal annual installments beginning one year from the date of grant and are subject to termination provisions as defined in our 2005 Stock Incentive Plan |
Minimum [Member] | ' |
8 - SHARE BASED COMPENSATION (Details) [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share) | 0.93 |
Maximum [Member] | ' |
8 - SHARE BASED COMPENSATION (Details) [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share) | 1.8 |
8_SHARE_BASED_COMPENSATION_Det1
8 - SHARE BASED COMPENSATION (Details) - Schedule of Share-based Compensation, Stock Options, Activity (USD $) | 9 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | |
Number of Shares [Member] | Weighted Average Exercise Price [Member] | Weighted Average Years Remaining, Contractual Term [Member] | Aggregate Intrinsic Value [Member] | Aggregate Intrinsic Value [Member] | |
8 - SHARE BASED COMPENSATION (Details) - Schedule of Share-based Compensation, Stock Options, Activity [Line Items] | ' | ' | ' | ' | ' |
Outstanding at December 31, 2012 | 454,500 | ' | ' | ' | ' |
Outstanding at December 31, 2012 (in Dollars per share) | ' | $1.35 | ' | ' | ' |
Outstanding at December 31, 2012 | ' | ' | '4 years 219 days | ' | ' |
Outstanding at December 31, 2012 (in Dollars) | ' | ' | ' | $15,400 | $12,000 |
Grants | 20,000 | ' | ' | ' | ' |
Grants (in Dollars per share) | ' | $0.92 | ' | ' | ' |
Grants | ' | ' | '8 years 255 days | ' | ' |
Forfeited | -67,000 | ' | ' | ' | ' |
Forfeited (in Dollars per share) | ' | $1.22 | ' | ' | ' |
Outstanding at September 30, 2013 | 407,500 | ' | ' | ' | ' |
Outstanding at September 30, 2013 (in Dollars per share) | ' | $1.35 | ' | ' | ' |
Outstanding at September 30, 2013 | ' | ' | '4 years 219 days | ' | ' |
Outstanding at September 30, 2013 (in Dollars) | ' | ' | ' | 15,400 | 12,000 |
Exercisable at September 30, 2013 | 288,167 | ' | ' | ' | ' |
Exercisable at September 30, 2013 (in Dollars per share) | ' | $1.47 | ' | ' | ' |
Exercisable at September 30, 2013 | ' | ' | '3 years 292 days | ' | ' |
Exercisable at September 30, 2013 (in Dollars) | ' | ' | ' | $8,300 | ' |
9_INCOME_TAXES_Details
9 - INCOME TAXES (Details) (USD $) | Sep. 30, 2013 |
Income Tax Disclosure [Abstract] | ' |
Deferred Tax Assets, Operating Loss Carryforwards, Domestic | $251,000 |
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | 871,000 |
Unrecognized Tax Benefits | $2,389,000 |
10_COMMITMENTS_AND_CONTINGENCI1
10 - COMMITMENTS AND CONTINGENCIES (Details) (USD $) | Sep. 30, 2013 |
Commitments and Contingencies Disclosure [Abstract] | ' |
Purchase Commitment, Remaining Minimum Amount Committed | $2,000,000 |