Note 7 - Income Taxes

3 Months Ended

Mar. 31, 2013

Income Tax Disclosure [Text Block]

Note 7 —Income taxes

The Company recognized income tax expense of $19,000 in the first three months of 2013 and none in the comparable period of 2012.  In the first quarter of 2013, the provision for income tax was offset by available tax loss carry-forwards originating from 2008 through 2011.  The $19,000 income tax recorded in 2013 represents an accrual for alternative minimum tax related to utilizing those tax loss carry-forwards.

The Company continues to maintain a full valuation allowance for deferred income taxes, as a result of the Company being in a cumulative loss position as of March 31, 2013.