4 - OTHER ASSETS

3 Months Ended

Mar. 31, 2016

Disclosure Text Block Supplement [Abstract]

4 – OTHER ASSETS

	March 31,		December 31,
	2016		2015
	(Unaudited)

Investment in securities - Zowie Technology	$	100,000	$	100,000
Investment in joint venture - Grand Shine Mgmt		497,000		571,000
Other		22,000		17,000
Other Assets	$	619,000	$	688,000

Our $100,000 investment in securities as of March 31, 2016 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 $497,000 investment in joint venture as of March 31, 2016, 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 March 31, 2016 and December 31, 2015, we have recorded cumulative unrealized loss from the inception of our investment in Grand Shine Management of $679,000 and $605,000, respectively