Annual report pursuant to Section 13 and 15(d)

Note N - Income Taxes (Tables)

v3.19.1
Note N - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2018
Notes Tables  
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
   
2018
   
2017
 
                 
Allowance for doubtful accounts
  $
3,000
    $
3,000
 
Warranty reserve
   
29,000
     
20,000
 
Impaired Assets
   
435,000
     
5,000
 
Inventory Reserve
   
551,000
     
 
 
Capital Gains
   
-
     
45,000
 
Deferred officers' compensation
   
715,000
     
636,000
 
Depreciation and Amortization
   
345,000
     
181,000
 
Deferred revenue
   
 
     
478,000
 
Net operating loss carryforward
   
16,500,000
     
15,116,000
 
Subtotal
   
18,578,000
     
16,484,000
 
Valuation allowance
   
(18,578,000
)    
(16,484,000
)
Non-current deferred tax asset
  $
-
    $
-
 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
   
2018
   
2017
 
Statutory rate
   
21
%    
34
%
State income tax-all states
   
7
%    
6
%
Non-deductible Stock based compensation
   
0
%    
0
%
Deferred provision for effect of change in Federal rate
   
0
%    
164
%
     
28
%    
204
%
Valuation allowance
   
-28
%    
-204
%
Effective tax rate
   
0
%    
0
%