Property, Plant and Equipment

6 Months Ended

Jun. 30, 2016

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 5 – Property, Plant and Equipment

Property, plant and equipment consists of the following:

	June 30 2016		December 31 2015
In thousands
Land, buildings and improvements	$	-	$	1,256
Machinery, fixtures and equipment		1,012		878
Leaseholds and improvements		25		25
		1,037		2,159
Less accumulated depreciation		538		1,003
Net property, plant and equipment	$	499	$	1,156

On February 1, 2016, the Company sold its Des Moines, Iowa facility for $1.1 million in a sale/leaseback transaction.  The lease is for a two year period at an annual rental of $158,000.  As a result of the sale, the remaining $329,000 mortgage was paid in full.  Net proceeds of $661,000 were received after paying off the related mortgage.  The Company calculated a gain of $267,000, which will be recognized over the 24 month term of the lease.  For the six months ended June 30, 2016, $55,000 of the gain has been recognized.

Depreciation expense for property, plant and equipment for the six months ended June 30, 2016 and 2015 was $68,000 and $96,000, respectively.