Note 5 - Property and Equipment

9 Months Ended

Sep. 30, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 5 – PROPERTY AND EQUIPMENT

Long-lived assets are reviewed for impairment in accordance with Topic ASC 360, Property, Plant and Equipment. This authoritative guidance provides that whenever there are certain significant events or changes in circumstances, the value of long-lived assets or groups of assets must be tested to determine if their value can be recovered from their future cash flows. In the event that undiscounted cash flows expected to be generated by the asset are less than the carrying amount, the asset or group of assets must be evaluated to determine if an impairment of value exists. Impairment exists if the carrying value of the asset exceeds its fair value.

In light of our operating results in recent years, triggering events and changes in circumstances have occurred, which required us to test our long-lived assets for recoverability as of September 30, 2014.

Recoverability is tested for all of our long-lived assets as a single group at the entity level and the Company examines the forecasted future cash flows generated by revenue equipment, including its eventual disposition, to determine if those cash flows exceed the carrying value of long-lived assets. As of September 30, 2014, the Company determined that no impairment of value existed.