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Note 17 - Commitments and Contingencies
 12 Months Ended
Dec. 31, 2011
Commitments and Contingencies Disclosure [Text Block]
Note 17 - Commitments and Contingencies

Legal Proceedings

On September 18, 2007 a settlement was reached between the Company and PrecisionFlow Technologies, Inc. of the pending litigation. Under the terms of the settlement, all claims and counterclaims asserted by the parties in previously filed lawsuits were discontinued in consideration of which the Company was to receive payments totaling $541,600 to be paid over a specific timetable as defined. As of December 31, 2010, we have been paid in full.

In June 2008, the Company commenced an action against a third party in the Supreme Court of the State of New York, Suffolk County. By that action, the Company sought to recover $154,161 for manufacturing engineering services and system fabrication; spare parts; and reimbursable expenses. Subsequently, the defendant removed the action to the United States District Court for the Eastern District of New York. Once in Federal Court, the customer asserted various counterclaims. A settlement was agreed to in late 2009 and executed in February 2010.

On January 26, 2010, the Company commenced an action against Taiwan Glass Industrial Corp. (“Taiwan Glass”) and Mizuho Corporate Bank (“Mizuho”) in the United States District Court for the Southern District of New York. By that action, the Company seeks monetary damages ($5,816,000) against Taiwan Glass for breach of contract and against Mizuho for failing to pay the second installment on a letter of credit issued by Mizuho. The action as against Mizuho has been subsequently dismissed.

The Company believes that Taiwan Glass has no legal basis for unilaterally refusing to accept and pay for equipment specially manufactured for them and shipped to them by the Company. Taiwan Glass has interposed an answer and counterclaims denying these allegations and is seeking unspecified monetary damages. The Company is vigorously pursuing its claims against Taiwan Glass and defending against the counterclaims interposed by Taiwan Glass.

At December 31, 2011, Taiwan Glass has not yet granted permission to allow the Company to use or sell all of the returned equipment ($975,000) due to the pending litigation. Management has reclassified the returned equipment as Idle Inventories, net as of December 31, 2011. The Idle Inventories has been assigned a net carrying value using the lower of cost or market.