Property, Plant and Equipment, net

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

6.  Property, Plant and Equipment, net

Property, plant and equipment consists of the following:

In thousands	2016		2015
Land, buildings and improvements	$	-	$	1,256
Machinery, fixtures and equipment		2,839		878
Leaseholds and improvements		25		25
		2,864		2,159
Less accumulated depreciation		572		1,003
Net property, plant and equipment	$	2,292	$	1,156

Land, buildings and equipment having a net book value of $2.3 million and $1.1 million at December 31, 2016 and 2015, respectively, are pledged as collateral under various financing agreements.

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 is being recognized over the 24 month term of the lease.  The Company recognized $121,000 of the gain in the year ended December 31, 2016.

During 2016 and 2015, $36,000 and $151,000, respectively, of fully depreciated property, plant and equipment was written off.  Depreciation expense for property, plant and equipment for the years ended December 31, 2016 and 2015 was $137,000 and $123,000, respectively.