XML 63 R19.htm IDEA: XBRL DOCUMENT

Note 13 - Significant Risks and Uncertainties	12 Months Ended
Dec. 31, 2013
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]	Note 13 – Significant Risks and Uncertainties Cash and Cash Equivalents The Company places most of its temporary cash investments with financial institutions, which from time to time may exceed the Federal Deposit Insurance Corporation limit. The amount at risk at December 31, 2013 and at December 31, 2012 was $9,834,765 and $4,397,166, respectively. Sales Concentrations Revenue to a single customer in any one year can exceed 10.0% of our total sales. In fiscal year 2013 one customer represented 23.7% of our annual revenues and in 2012 another customer represented 16.6% of our annual revenues, respectively. We are not dependent on any single customer, and the loss of any key customer would have to be replaced by others, as we have previously, or our inability to do so may have a material adverse effect on our business and financial condition. Export sales to unaffiliated customers represented approximately 27.3% and 24.4% of sales for the years ended December 31, 2013 and 2012, respectively. Export sales in both 2013 and 2012 were primarily to customers in Europe and Asia. All contracts are denominated in U.S. dollars. The Company does not enter into any foreign exchange contracts.

Note 13 - Significant Risks and Uncertainties

12 Months Ended

Dec. 31, 2013

Concentration Risk Disclosure [Text Block]

Note 13 – Significant Risks and Uncertainties

Cash and Cash Equivalents

The Company places most of its temporary cash investments with financial institutions, which from time to time may exceed the Federal Deposit Insurance Corporation limit. The amount at risk at December 31, 2013 and at December 31, 2012 was $9,834,765 and $4,397,166, respectively.

Sales Concentrations

Revenue to a single customer in any one year can exceed 10.0% of our total sales. In fiscal year 2013 one customer represented 23.7% of our annual revenues and in 2012 another customer represented 16.6% of our annual revenues, respectively. We are not dependent on any single customer, and the loss of any key customer would have to be replaced by others, as we have previously, or our inability to do so may have a material adverse effect on our business and financial condition.

Export sales to unaffiliated customers represented approximately 27.3% and 24.4% of sales for the years ended December 31, 2013 and 2012, respectively. Export sales in both 2013 and 2012 were primarily to customers in Europe and Asia. All contracts are denominated in U.S. dollars. The Company does not enter into any foreign exchange contracts.

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References+ Details