Discontinued Operations

6 Months Ended

Jun. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Note 10 - Discontinued Operations

During the first half of 2014, the Company elected to discontinue the operations of Southern Bullion, due to the lack of profitability and management's belief that it was unlikely that profitability would be reached in the foreseeable future. The significant change in the precious metals market in 2013, including a 30% decline in the spot price of gold since the acquisition of Southern Bullion in 2011, had a disproportionately negative impact on the customer traffic, transactional volume and profitability of the Southern Bullion operations. As a result, during 2013, the Southern Bullion operations generated a net loss of approximately $1.9 million. The operating results for all Southern Bullion operations have been reclassified as discontinued operations in the consolidated statements of operations for the three and six months ended June 30, 2016 and 2015.

	For the Three Months Ended  June 30,				For the Six Months Ended  June 30,
	2016		2015		2016		2015
Revenue:
Sales	$	-	$	-	$	-	$	65
Cost of goods sold		-		-		-		-
Gross margin		-		-		-		65
Expenses:
Selling, general and administrative expenses		-		(41,683)		-		(44,142)
Depreciation and amortization		-		-		-		-
Total expenses		-		(41,683)		-		(44,142)
Operating income		-		41,683		-		44,207
Other expense (income):
Interest income expense		-		-		-		40
		-		-		-		40
Income from discontinued operations before income taxes		-		41,683		-		44,247
Income tax expense		(67)		-		(164)		-
Income (loss) from discontinued operations after income taxes	$	(67)	$	41,683	$	(164)	$	44,247

As of June 30, 2016, the Company believes it has now recognized all material expenses related to the closure of Southern Bullion operations. Discontinued operations for the three and six months ended June 30, 2015, include adjustments of existing expense accruals related to winding down the operations of Southern Bullion.