4 - OTHER ASSETS

9 Months Ended

Sep. 30, 2015

Disclosure Text Block Supplement [Abstract]

4 – OTHER ASSETS

	September 30,		December 31,
	2015		2014
	(Unaudited)

Investment in securities - Zowie Technology	$	100,000	$	100,000
Investment in joint venture - Grand Shine Mgmt		660,000		868,000
Other		17,000		20,000
Other Assets	$	777,000	$	988,000

Our $100,000 investment in securities as of September 30, 2015 relates to our ownership of 1,037,739 common shares of Zowie Technology Corporation (New Taipei City, Taiwan), a supplier of electronic component products. Our investment relates to approximately 9.2% of their total outstanding shares although we do not have significant influence or control. This investment is accounted for under the cost method basis of accounting.

Our $660,000 investment in joint venture as of September 30, 2015, relates to our 49% ownership of Grand Shine Management Limited (Dong Guan, China), an electronic device contract manufacturer, and joint venture with its 51% owner, Teamforce Company Limited. This joint venture is not considered to be a “Variable Interest Entity”, and as such, is accounted for under the equity method basis of accounting. As of September 30, 2015 and 2014, we have recorded total unrealized loss from investment in Grand Shine Management of $516,000 and $240,000, respectively.