Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

19.  Commitments and Contingencies

Commitments:  The Company has employment agreements with its Chief Executive Officer and with the President of its subsidiary Trans-Lux Energy Corporation, which expire in February 2018 and May 2016, respectively.  At December 31, 2014, the aggregate commitment for future salaries, excluding bonuses, was approximately $1.1 million.  Contractual salaries expense was $348,000 and $382,000 for the years ended December 31, 2014 and 2013, respectively.

Contingencies:  The Company is subject to legal proceedings and claims which arise in the ordinary course of its business and/or which are covered by insurance.  The Company believes that it has accrued adequate reserves individually and in the aggregate for such legal proceedings.  Should actual litigation results differ from the Company’s estimates, revisions to increase or decrease the accrued reserves may be required.  Our former outside legal counsel had brought a claim against us for $593,000 plus interest, which we have settled for $600,000.  Of the settlement, $383,000 was paid in 2014, with the remainder due in monthly installments through April 2016.  The liability is included in Accrued liabilities on the Consolidated Balance Sheet at December 31, 2014.

Operating leases:  Certain premises are occupied under operating leases that expire at varying dates through 2019.  Certain of these leases provide for the payment of real estate taxes and other occupancy costs.  Future minimum lease payments due under operating leases at December 31, 2014 aggregating $1.3 million are as follows: $497,000 - 2015, $401,000 – 2016, $287,000 – 2017, $83,000 – 2018 and $21,000 – 2019.  Rent expense was $428,000 and $346,000 for the years ended December 31, 2014 and 2013, respectively.