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Note 11 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Dec. 31 2018				Dec. 31 2017
Current:
Federal		$	165,000			$	(188,549	)
State			-				(11,964	)
Foreign			(245,040	)			317,823
		$	(80,040	)		$	117,310
Deferred
Federal		$	317,640			$	732,895
State			266,413				(79,598	)
Foreign			432,693				(59,074	)
			1,016,746				594,223
Total Income Tax Provision		$	936,706			$	711,533

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		2018				2017
Deferred tax assets:
Federal and state net operating loss carryforwards		$	805,865			$	523,808
Foreign tax credit and other credits			469,408				592,993
Reserves and accruals			320,783				271,884
Unicap 263A adjustment			112,199				126,944
Other deferred tax assets			88,369				26,198
Foreign and VIE net operating loss carryforwards			566,765				569,147
Deferred Interest Expense			529,983				-
Total gross deferred tax assets			2,893,372				2,110,974
Deferred tax liabilities:
Fixed assets and intangibles			(257,113	)			(273,746	)
Deferred state income tax			(91,691	)			(103,055	)
Total gross deferred tax liabilities			(348,804	)			(376,801	)
Less: valuation allowance			(2,409,474	)			(631,706	)
Net deferred tax assets			135,094				1,102,467
Deferred Tax Asset Valuation Allowance
Beginning Balance			631,706				45,000
Additions charged (credited) to expense			1,777,768				586,706
Balance at end of year			2,409,474				631,706

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		Years Ended December 31,
		2018				2017
Federal Taxes at statutory rate		$	(589,875	)		$	(372,364	)
State income taxes, net of Federal tax effect			(298.917	)			(60,695	)
Nondeductible expenses			3,859				35,083
Foreign taxes			45,552				522,803
Change in valuation allowance			1,777,768				586,706
Other			(1,681	)			-
Income tax provision		$	936,706			$	711,533

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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-SubTopic 10
-Section 50
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

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