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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 3,594,000 $ 3,250,000
Accounts receivable, less allowances of $42,000 and $40,000, respectively 721,000 978,000
Inventories, less reserves for obsolescence of $7,910,000, and $7,848,000, respectively (Note 2) 4,409,000 4,990,000
Prepaid expenses and other current assets 125,000 80,000
Total current assets 8,849,000 9,298,000
Property and equipment, net 3,816,000 3,866,000
Other assets (Note 3) 319,000 403,000
Total assets 12,984,000 13,567,000
Current Liabilities:    
Accounts payable 431,000 848,000
Accrued liabilities 277,000 358,000
Total current liabilities 708,000 1,206,000
Long-term debt from related party (Note 4) 500,000 500,000
Total Liabilities 1,208,000 1,706,000
Commitments and contingencies (Notes 5 and 7)
Shareholders’ Equity:    
Preferred stock, $0.001 par value. Authorized 5,000,000 shares; None issued or outstanding 0 0
Additional paid-in capital 10,745,000 10,744,000
Accumulated other comprehensive income 137,000 144,000
Retained earnings 789,000 867,000
Total Shareholders’ Equity - Taitron Components Inc 11,677,000 11,761,000
Noncontrolling interest in subsidiary 99,000 100,000
Total Shareholders’ Equity 11,776,000 11,861,000
Total Liabilities and Shareholders’ Equity 12,984,000 13,567,000
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