XML 18 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Balance Sheets (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current Assets:    
Cash and cash equivalents $ 3,287,000 $ 2,724,000
Accounts receivable, less allowances of $52,000 643,000 511,000
Inventories, less reserves for obsolescence of $6,607,000, and $5,939,000, respectively 8,956,000 10,151,000
Prepaid expenses and other current assets 118,000 109,000
Total current assets 13,004,000 13,495,000
Property and equipment, net 4,343,000 4,462,000
Other assets (Note 4) 1,118,000 1,276,000
Total assets 18,465,000 19,233,000
Current Liabilities:    
Accounts payable 353,000 568,000
Accrued liabilities 277,000 288,000
Current portion of long-term debt from related party (Note 5) 500,000 0
Total current liabilities 1,130,000 856,000
Long-term debt from related party (Note 5) 1,000,000 1,500,000
Total Liabilities 2,130,000 2,356,000
Commitments and contingencies (Notes 6 and 8)      
Shareholders’ Equity:    
Preferred stock, $0.001 par value. Authorized 5,000,000 shares; None issued or outstanding 0 0
Additional paid-in capital 10,680,000 10,661,000
Accumulated other comprehensive income 135,000 132,000
Retained earnings 5,403,000 5,959,000
Total Shareholders’ Equity - Taitron Components Inc 16,224,000 16,758,000
Noncontrolling interest in subsidiary 111,000 119,000
Total Shareholders’ Equity 16,335,000 16,877,000
Total Liabilities and Shareholders’ Equity 18,465,000 19,233,000
Common Class A [Member]
    
Shareholders’ Equity:    
Common Stock, value, issued 5,000 5,000
Common Class B [Member]
    
Shareholders’ Equity:    
Common Stock, value, issued $ 1,000 $ 1,000