5A. INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of income taxes

	Current		Deferred		Total
Year Ended December 31, 2013:
US federal	$	––	$	––	$	––
State and local		––		––		––
Foreign		3,944		––		3,944
	$	3,944	$	––	$	3,944
Year Ended December 31, 2014:
US federal	$	––	$	––	$	––
State and local		––		––		––
Foreign		7,080		––		7,080
	$	7,080	$	––	$	7,080

Schedule of income tax reconciliation

	2013			2014
Computed "expected" US tax (benefit) at Federal statutory rate	$	(362,095	)	$	41,645
Change resulting from:
State and local income taxes, net of federal income tax benefit		––			––
Valuation allowance		(126,339	)		(281,039	)
Non––deductible items		15,334			12,063
Expired State Net Operating Losses		477,044			234,411
Income tax expense (benefit)	$	3,944		$	7,080

Schedule of deferred tax assets

	2013			2014
Deferred income tax assets:
Inventories	$	165,225		$	132,511
Accounts receivable		235,207			143,780
Intangible assets		25,738			––
Accrued expenses		44,112			36,621
Net operating loss and tax credit carry forwards		17,977,742			17,863,473
Plant and equipment		15,018			4,629
Stock compensation		89,515			90,504
Other – investment impairments		127,855			127,855
Total deferred income tax assets		18,680,412			18,399,373
Valuation allowance		(18,680,412	)		(18,399,373	)
Net deferred tax assets	$	––		$	––