Note 11 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Notes Tables

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

	2017			2016
Vacation accrual	$	2,900		$	5,450
Allowance for doubtful accounts		743			1,202
Reserve for obsolete inventory		305,425			200,118
Business tax credit carryover		30,935			30,935
Deferred Compensation		16,787			8,500
Net operating loss carryover		4,646,434			4,906,974
Excess of book over tax depreciation		(71,116	)		(296,227	)
Valuation allowance		(4,932,108	)		(4,856,952	)
Long term deferred tax asset	$	-		$	-

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

	2017			2016
Computed tax at expected statutory rate	$	(1,624,575	)	$	(4,487,649	)
State and local income taxes, net of federal benefit		(4,350	)		(3,721	)
Non-US income taxed at different rates		256,207			1,325,180
Effect of change in corporate tax rate		994,336			(21,489	)
Non-deductible impairment of goodwill		-			1,615,506
Non-deductible deferred compensation		-			148,170
Non-deductible expenses		4,664			4,242
Valuation allowance		75,156			4,739,806
Other		(19,248	)		(100,368	)
Income tax expense (benefit)	$	(317,810	)	$	3,219,677

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

	2017			2016
Current income tax expense:
Danish	$	(317,810	)	$	(329,816	)
Federal		-			-
State		-			580
Current tax (benefit)	$	(317,810	)	$	(329,236	)
Book in excess of tax depreciation	$	(225,111	)	$	(158,684)
Allowance for doubful accounts		459			12,705
Net operating loss carryover		260,540			(1,000,650	)
Valuation allowance		75,156			4,756,011
Deferred compensation		(8,287	)		(8,500	)
Accrued vacation		2,550			(1,517	)
Reserve for obsolete inventory		(105,307	)		(50,452	)
Deferred tax expense (benefit)	$	-		$	3,548,913
Total tax expense (benefit)	$	(317,810	)	$	3,219,677