Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2015

Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition

A detailed discussion of our revenue recognition policies is contained in Item 2 (Management’s Discussion and Analysis of Financial Condition and Results of Operations) under Critical Accounting Policies below. The discussion is incorporated herein by reference.

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

Recent accounting pronouncements discussed in the notes to the December 31, 2014 audited financial statements, filed previously with the SEC in our Annual Report on Form 10-K on March 30, 2015, that are required to be adopted during the year ended December 31, 2014, did not have or are not expected to have a significant impact on the Company’s 2015 financial statements.

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

Employee Stock-Based Compensation

On March 31, 2015, a total of 2,184,320 shares of common stock were available for issuance under the 2006 Stock Plan. Options are granted under our 2006 Stock Plan at the fair market value of our common stock at the grant date, typically vest ratably over 4 years, and expire 10 years from the grant date.

All share-based payments to employees (incentive stock options) are recognized in the financial statements based on their fair values at the date of grant. The calculated fair value is recognized as expense (net of any capitalization) over the requisite service period, net of estimated forfeitures, using the straight-line method. The Company considers many factors when estimating expected forfeitures, including types of awards, employee class and historical experience. The modified prospective method of application requires compensation expense to be recognized in the financial statements for all unvested stock options beginning in the quarter of award. The cost is based on the grant date fair value of the stock option. Compensation expense recognized in future periods for share-based compensation will be adjusted for the effects of estimated forfeitures.

For the three-month periods ended March 31, 2015 and 2014, general and administrative expenses included stock based compensation expense of $94,582 and $67,510, respectively, decreasing the Company's income before income taxes and net income resulting from the recognition of compensation expense associated with employee stock options. There was no material impact on the Company's basic and diluted net income per share as a result of recognizing the employee stock-based compensation expense. The Company did not modify the terms of any previously granted stock options during the three-month periods ended March 31, 2015 and 2014.

Subsequent Events, Policy [Policy Text Block]

Subsequent Events

Management has evaluated events subsequent to March 31, 2015 through the date that the accompanying condensed financial statements were filed with the Securities and Exchange Commission for transactions and other events which may require adjustment of and/or disclosure in such financial statements.

- Definition

Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.

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