XML 56 R26.htm IDEA: XBRL DOCUMENT v3.20.1

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

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

Income tax provision is summarized as follows:

		Year Ended December 31,
		2019				2018
Current:
Federal		$	-			$	-
Foreign			-				-
State			-				6,000
			-				6,000
Deferred:
Federal			97,000				216,000
State			7,000				103,000
Decrease in valuation allowance			(104,000	)			(319,000	)
			-				-
Income tax provision		$	-			$	6,000

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

The actual income tax provision differs from the “expected” tax computed by applying the Federal corporate tax rate of 21% to the loss before income taxes as follows:

		Year Ended December 31,
		2019				2018
“Expected” income tax benefit		$	204,000			$	288,000
State tax expense, net of Federal benefit			-				5,000
Foreign loss			(30,000	)			-
Decrease in valuation allowance			(104,000	)			(319,000	)
Foreign tax expense			-				(4,000	)
Other			(70,000	)			36,000
Income tax provision		$	-			$	6,000

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

The tax effects of temporary differences which give rise to significant portions of the deferred taxes are summarized as follows:

		December 31,
		2019				2018
Deferred tax assets:
Inventory reserves		$	1,758,000			$	2,146,000
Allowances for bad debts and returns			5,000				11,000
Accrued expenses			21,000				19,000
Asset valuation reserve			539,000				481,000
Net operating loss carry forwards			283,000				136,000
Other			160,000				152,000
Total deferred tax assets			2,766,000				2,945,000
Valuation allowance			(2,587,000	)			(2,691,000	)
			179,000				254,000
Deferred tax liabilities:
Inventory overhead deferred tax liability			-				(73,000	)
Deferred state taxes			(179,000	)			(181,000	)
Total deferred tax liabilities			(179,000	)			(254,000	)
Net deferred tax assets		$	-			$	-

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration