Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2014			2013
Current:
Federal	$	240,591		$	----
State		7,258			----
Total current tax provision		247,849			----
Deferred:
Federal		(1,865,134	)		(1,230,271	)
State		381,345			(166,136	)
Total deferred tax provision		(1,483,789	)		(1,396,407	)
Income tax benefit	$	(1,235,940	)	$	(1,396,407	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2014			2013
Allowance for doubtful accounts	$	16,826		$	45,148
Inventory capitalization		23,185			36,591
Depreciation and amortization		(371,669	)		(385,907	)
Investment tax credits		475,000			600,000
Research & development tax credits		696,865			683,495
Compensation costs		375,080			239,876
Vacation accrual		242,099			274,307
Accrued loss on legal settlement		1,674,500
Net operating loss carryforward		1,674,500
Capital loss carryforward		26,627			1,135,794
Gross deferred tax asset		4,113,093			2,629,304
Less valuation allowance		(475,000	)		(475,000	)
Net deferred tax asset	$	3,638,093		$	2,154,304
Net current deferred tax asset		2,887,960			1,443,321
Net long-term deferred tax asset		750,133			710,983
Net deferred tax asset	$	3,638,093		$	2,154,304

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2014			2013
Expected provision at federal statutory tax rate (34%)	$	(1,261,218	)	$	(665,288	)
State taxes, net of federal benefit		7,258			(109,650	)
Stock-based compensation expense		(307,737	)		(217,648	)
Deferred gain on sale of building					(301,742	)
Capital loss carryforward		--			190,517
Net operating loss carryforward		(37,327	)		--
Federal research & development credit		(181,782	)		(248,444	)
Other permanent differences		163,521			(44,152	)
Impact of New York State taxation change		381,345
Income tax benefit	$	(1,235,940	)	$	(1,396,407	)