8. INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of income taxes

	Current		Deferred		Total
Year Ended December 31, 2016:
U.S. federal	$	––	$	––	$	––
State and local		––		––		––
Foreign		7,070		––		7,070
	$	7,070	$	––	$	7,070
Year Ended December 31, 2017:
U.S. federal	$	––	$	––	$	––
State and local		––		––		––
Foreign		14,660		––		14,660
	$	14,660	$	––	$	14,660

Schedule of income tax reconciliation

	2016			2017
Computed "expected" US tax (benefit) at Federal statutory rate	$	(997,268	)	$	(287,070	)
Change resulting from:
State and local income taxes, net of federal income tax benefit		(185,083	)		(101,924	)
Valuation allowance		1,219,633			(6,663,556	)
Non––deductible items		(162,068	)		(94,344	)
Expired Federal capital loss		127,855			––
Federal rate change		––			7,160,556
State net operating loss true up and rate change		4,001			998
Income tax expense	$	7,070		$	14,660

Schedule of deferred tax assets

	2016			2017
Deferred income tax assets:
Inventories	$	116,776		$	135,077
Accounts receivable		141,587			128,817
Accrued expenses		83,227			272,008
Net operating loss and tax credit carry forwards		19,562,969			12,714,278
Plant and equipment		535			8,389
Stock compensation		128,524			111,493
Other – investment impairments		––			––
Total deferred income tax assets		20,033,618			13,370,062
Valuation allowance		(20,033,618	)		(13,370,062	)
Net deferred tax assets	$	––		$	––