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10. RETIREMENT PLANS
 6 Months Ended
Jun. 30, 2012
Pension and Other Postretirement Benefits Disclosure [Text Block]
10. RETIREMENT PLANS

Prior to the fourth quarter of 2011, we sponsored a noncontributory defined benefit pension plan covering non-union workers in our Ohio and Puerto Rico operations. Benefits under the non-union plan are based upon years of service and highest compensation levels as defined. On December 31, 2005, we froze the noncontributory defined benefit pension plan for all non-U.S. territorial employees. In the fourth quarter of 2011, we made a determination to fully fund and terminate the pension plan.


Net pension cost of the Company’s plan is as follows:


    (Unaudited)     (Unaudited)  
    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2012     2011     2012     2011  
                         
Service cost   $ -     $ 30,840     $ -     $ 61,680  
Interest     -       156,330       -       312,660  
Expected return on assets     -       (156,591 )     -       (313,182 )
Amortization of unrecognized                                
net gain or loss     -       54,763       -       109,526  
Amortization of unrecognized                                
transition obligation     -       -       -       -  
Amortization of unrecognized                                
prior service cost     -       18,801       -       37,602  
Net pension cost   $ -     $ 104,143     $ -     $ 208,286