14. COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

14.  COMMITMENTS AND CONTINGENT LIABILITIES

Contingent Liability

Pursuant to the OFB acquisition, the Company is contingently liable for certain performance-based payments over the twenty-four months following the acquisition date. The Company believes it is likely that these payments will be made, and accordingly recorded the entire amount of $225,000 as a contingent liability on its balance sheet at acquisition with $91,000 outstanding at December 31,2015. During the three months ended June 30, 2016 and 2015, payments were made in the aggregate amount of $31,000 and $26,250, respectively. During the six months ended June 30, 2016 and 2015, payments in the aggregate amount of $31,000 and $52,500, respectively, have been made under this contingent liability; at June 30, 2016, the balance of the contingent liability is $60,000 related to the OFB acquisition.

Litigation

From time to time, the Company may be involved in various lawsuits and legal proceedings which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business.