NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) (USD $)
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3 Months Ended | 83 Months Ended | |||
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Mar. 31, 2014
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Mar. 31, 2013
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Dec. 31, 2013
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Dec. 31, 2012
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Mar. 31, 2014
Remote Power Patent [Member]
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Licensing revenue | $ 60,000,000 | ||||
Royalty Revenue | 4,491,000 | 4,064,000 | |||
Cash and cash equivalents | 18,362,000 | 19,811,000 | 18,938,000 | 21,983,000 | |
Non-cash compensation expense, CEO | 27,000 | 27,000 | |||
Non-cash compensation, directors | 0 | 12,000 | |||
Non-cash compensation expense, CFO,directors and consultants | 0 | 73,000 | |||
Stock option to purchase, exercised, EVP | 75,000 | ||||
Common stock exercise price | $ 0.68 | ||||
Description of stock option | The option was exercised on a cashless basis by delivery 31,098 shares of common stock and 16,968 shares were delivered with an aggregate value of $27,828 to fund payroll withholding taxes on exercise, resulting in net shares of 26,934 issued to the Companys Executive Vice President with respect to such option exercise. | ||||
Percentage of revenue from one licensee out of total revenue (in percent) | 91.00% | 86.00% | |||
Future tax benefit | 7,869,000 | ||||
Deferred tax asset | 4,948,000 | 5,579,000 | |||
Income (before taxes) | 2,152,000 | 2,055,000 | |||
Income tax expense | 756,000 | 663,000 | |||
Cash in excess of FDIC limits | 18,112,000 | ||||
Potentialy Dilutive Shares | 6,707,500 | 5,765,000 | |||
Additional investment of convertible note, first tranche | 95,000 | ||||
Aggregate commitment of convertible note, all tranches | $ 380,200 |
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Additional investment of convertible note. No definition available.
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Aggregate investment of convertible note. No definition available.
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Cash in excess of FDIC limits. No definition available.
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Common stock exercise price. No definition available.
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Description of stock option. No definition available.
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Future tax benefit. No definition available.
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Licensing revenue. No definition available.
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No authoritative reference available. No definition available.
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Non-cash compensation expense. No definition available.
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Non-cash compensation expense vested. No definition available.
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Potentialy dilutive shares. No definition available.
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Stock option to purchase, exercised. No definition available.
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Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards, net of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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