Quarterly report pursuant to Section 13 or 15(d)

Accounts Receivable

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Accounts Receivable
 9 Months Ended
Sep. 30, 2015
Receivables [Abstract]  
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]
Note 3 – Accounts Receivable
 
Accounts receivable, net consisted of the following:
 
 
 
September 30,
 
December 31,
 
 
 
2015
 
2014
 
 
 
(unaudited)
 
 
 
Trade receivables
 
$
716,846
 
$
231,412
 
Grant receivables
 
 
-
 
 
132,227
 
Other receivables
 
 
78,713
 
 
107,657
 
 
 
 
795,559
 
 
471,296
 
Allowance for doubtful accounts
 
 
-
 
 
(24,775)
 
 
 
$
795,559
 
$
446,521
 
 
For the nine months ended September 30, 2015, $79,566 of trade receivables from customers were written-off as it was determined that the probability of collection was remote, of which $24,775 had been reserved at December 31, 2014. During the three months ended September 30, 2015, the Company collected $24,124 of trade receivables which had been previously written-off in 2015.