Unrestricted Net Assets

12 Months Ended

Dec. 31, 2011

Receivables [Abstract]

Unrestricted Assets Disclosure [Text Block]

15. Unrestricted Net Assets

The Company's wholly-owned subsidiary, UBIUK, has accumulated losses of approximately £1,700,000 as of December 31, 2011. Under KBEL's line of credit agreement with RBS, distributions and other payments to the Company from its subsidiary are not permitted if the retained earnings drop below £1,000,000. Condensed financial information of the US operations is as follows:

Balance Sheets	2011			2010
Assets
Cash and cash equivalents	$	187,200		$	64,900
Accounts receivable, net		2,308,400			1,754,600
Inventories		1,799,600			1,756,700
Other current assets		126,800			360,300
Total current assets		4,422,000			3,936,500
Investment in subsidiary		1,225,000			1,225,000
Property and equipment		10,349,000			10,401,800
Intercompany receivable		231,400			-
Other assets		462,500			152,700
Total assets	$	16,689,900		$	15,716,000
Liabilities
Line of credit	$	895,300		$	1,621,200
Accounts payable		1,511,400			1,265,700
Accrued liabilities		824,300			899,700
Current maturities of notes payable to related party		-			3,224,800
Current maturities of debt and capital leases		473,100			3,564,800
Total current liabilities		3,704,100			10,576,200
Intercompany payable		-			17,900
Long-term debt and capital leases		4,280,900			49,700
Notes to related parties		3,315,700			-
Total liabilities		11,300,700			10,643,800
Stockholders' equity
Common stock		15,100,300			15,043,300
Preferred stock		227,600			227,600
Accumulated deficit		(9,938,700	)		(10,198,700	)
Total stockholders' equity		5,389,200			5,072,200
Total liabilities and stockholders' equity	$	16,689,900		$	15,716,000

Statement of Operations	2011			2010
Net sales	$	16,138,400		$	14,909,900
Cost of goods sold		12,037,300			11,127,500
Selling, marketing, and retail expenses		1,698,400			1,470,800
General and administrative expenses		1,912,100			1,810,200
Income from operations		490,600			501,400
Other income and (expense)
Interest expenses		(382,200	)		(468,000	)
Other income		158,700			158,200
Provision for taxes		(7,100	)		(9,600	)
		(230,600	)		(319,400	)
Net income (loss)	$	260,000		$	182,000

Statements of Cash Flows	2011			2010
Cash flows from operating activities	$	464,800		$	635,000
Purchase of property and equipment		(506,800	)		(56,100	)
Net cash flows from investing		(506,800	)		(56,100	)
Net borrowings (repayments) on line of credit		(725,900	)		58,300
Borrowings on long-term debt		4,881,000			-
Repayment of long-term debt		(3,694,200	)		(311,600	)
Payment on obligations under capital leases		(47,300	)		(50,200	)
Net change in inter company payable		(249,300	)		(257,200	)
Net cash flows from financing activities		164,300			(560,700	)
Cash, beginning of year		64,900			46,700
Cash, end of year	$	187,200		$	64,900