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Liquidity
12 Months Ended
Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Liquidation Basis of Accounting [Text Block]

2. Liquidity


Subsequent to December 31, 2018, the Company received proceeds of $8.0 million from a rights offering to current shareholders for gross proceeds of at least $2,500,000 by June 1, 2019 (the “Rights Offering”) and the exercise of the $5.5 million warrant (the “Unilumin Warrant”) issued to Unilumin North America Inc. (“Unilumin”).  Certain directors deferred the timing of payments owed to them related to directors’ fees and long-term debt.


The Company has incurred significant recurring losses and has a significant working capital deficiency.  The Company incurred a net loss of $4.7 million in 2018 and had a working capital deficiency of $8.5 million as of December 31, 2018.


The Company is dependent on future operating performance in order to generate sufficient cash flows in order to continue to run its businesses.  Future operating performance is dependent on general economic conditions, as well as financial, competitive and other factors beyond our control.  In order to more effectively manage its cash resources, the Company had, from time to time, increased the timetable of its payment of some of its payables, which delayed certain product deliveries from our vendors, which in turn delayed certain deliveries to our customers.


We received gross proceeds of $2.5 million from the Rights Offering and $5.5 million from the exercise of the Unilumin Warrant, of which a portion of the proceeds from such financings have been used to satisfy outstanding obligations including certain long-term debt, certain payables, certain accrued liabilities and pension obligations.  With these payments handled, vendors will resume providing product to us on a timely basis, which will allow us to resume timely deliveries to our customers.  Management believes that its current cash resources and cash provided by operations will be sufficient to fund its anticipated current and near-term cash requirements and to execute our operating plan.  The Company continually evaluates the need and availability of long-term capital, including replacing the Credit Agreement (hereinafter defined), in order to meet its cash requirements and fund potential new opportunities.