XML 37 R24.htm IDEA: XBRL DOCUMENT
v3.21.2

SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
SIGNIFICANT ACCOUNTING POLICIES [Abstract] |
Disaggregated Revenue | In the following table, revenue for the years ended December 31, 2019, 2018 and 2017 is disaggregated by geographic areas as follows:
|  | 2019 |  |  | 2018 Restated |  |  | 2017 Restated |
United States |  | $ | 65,745,750 |  |  | $ | 72,563,038 |  |  | $ | 71,473,430 |
Canada |  |  | 6,513,631 |  |  |  | 7,095,697 |  |  |  | 7,194,116 |
All other countries |  |  | 2,658,779 |  |  |  | 3,544,834 |  |  |  | 3,753,049 |
Net sales |  | $ | 74,918,160 |  |  | $ | 83,203,569 |  |  | $ | 82,420,595 |
Computation of Basic and Diluted Earnings Per Share | Diluted EPS is computed using the treasury stock method.
|  | Years Ended December 31, |
|  | 2019 (1) |  |  | 2018 Restated |  |  | 2017 Restated |
Numerator: |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | (1,903,781 | ) |  | $ | 4,398,365 |  |  | $ | 2,478,444 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted-average common shares ouststanding |  |  | 8,973,246 |  |  |  | 9,185,203 |  |  |  | 9,242,092 |
Dilutive effect of service-based restricted stock awards granted to Board of Directors under the Plan |  |  | - |  |  |  | - |  |  |  | 177 |
Dilutive effect of service-based restricted stock awards granted to employees under the Plan |  |  | - |  |  |  | 19,805 |  |  |  | 3,268 |
Diluted weighted-average common shares outstanding |  |  | 8,973,246 |  |  |  | 9,205,008 |  |  |  | 9,245,537 |
(1) For the year ended December 31, 2019, there were 9,203 shares excluded from the diluted EPS calculation because the impact of their assumed vesting would be anti-dilutive due to a net loss in that period.
Other Intangible Assets | Our intangible assets, excluding goodwill, and related accumulated amortization consisted of the following:
| As of December 31, 2019 |
| Gross |  | Accumulated Amortization |  | Net |
Trademarks/copyrights |  | $ | 554,369 |  |  | $ | 547,369 |  |  | $ | 7,000 |
TOTAL |  | $ | 554,369 |  |  | $ | 547,369 |  |  | $ | 7,000 |
| As of December 31, 2018 |
| Gross |  | Accumulated Amortization |  | Net |
Trademarks/copyrights |  | $ | 554,369 |  |  | $ | 546,702 |  |  | $ | 7,667 |
Non-compete agreements |  |  | 153,000 |  |  |  | 144,167 |  |  |  | 8,833 |
TOTAL |  | $ | 707,369 |  |  | $ | 690,869 |  |  | $ | 16,500 |
| As of December 31, 2017 |
| Gross |  | Accumulated Amortization |  | Net |
Trademarks/copyrights |  | $ | 554,369 |  |  | $ | 545,980 |  |  | $ | 8,389 |
Non-compete agreements |  |  | 153,000 |  |  |  | 142,167 |  |  |  | 10,833 |
TOTAL |  | $ | 707,369 |  |  | $ | 688,147 |  |  | $ | 19,222 |

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration