Document and Entity Information
v5.17.1.24
Document and Entity Information (USD $)
12 Months Ended
Dec. 31, 2015
Mar. 10, 2016
Jun. 30, 2015
Document and Entity Information [Abstract]      
Entity Registrant Name ARRHYTHMIA RESEARCH TECHNOLOGY INC /DE/    
Entity Central Index Key 0000819689    
Current Fiscal Year End Date --12-31    
Entity Filer Category Smaller Reporting Company    
Document Type 10-K    
Document Period End Date Dec. 31, 2015    
Document Fiscal Year Focus 2015    
Document Fiscal Period Focus FY    
Amendment Flag false    
Entity Common Stock, Shares Outstanding   2,816,639dei_EntityCommonStockSharesOutstanding  
Entity Public Float     $ 17,471,600dei_EntityPublicFloat
Entity Current Reporting Status Yes    
Entity Voluntary Filers No    
Entity Well-known Seasoned Issuer No    

Consolidated Balance Sheets
v5.17.1.24
Consolidated Balance Sheets (USD $)
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 272,291us-gaap_CashAndCashEquivalentsAtCarryingValue $ 209,398us-gaap_CashAndCashEquivalentsAtCarryingValue
Trade accounts receivable, net of allowance for doubtful accounts of $60,000 at December 31, 2015 and $45,000 at December 31, 2014 2,798,353us-gaap_AccountsReceivableNetCurrent 3,536,747us-gaap_AccountsReceivableNetCurrent
Inventories 2,118,712us-gaap_InventoryNet 2,514,241us-gaap_InventoryNet
Prepaid expenses and other current assets 614,129us-gaap_PrepaidExpenseAndOtherAssetsCurrent 519,582us-gaap_PrepaidExpenseAndOtherAssetsCurrent
Total current assets 5,803,485us-gaap_AssetsCurrent 6,779,968us-gaap_AssetsCurrent
Assets held for sale, net 665,000us-gaap_DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent 0us-gaap_DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent
Property, plant and equipment, net 6,626,069us-gaap_PropertyPlantAndEquipmentNet 7,618,901us-gaap_PropertyPlantAndEquipmentNet
Intangible assets, net 18,645us-gaap_IntangibleAssetsNetExcludingGoodwill 134,022us-gaap_IntangibleAssetsNetExcludingGoodwill
Other assets 268,835us-gaap_OtherAssetsNoncurrent 570,357us-gaap_OtherAssetsNoncurrent
Total assets 13,382,034us-gaap_Assets 15,103,248us-gaap_Assets
Current liabilities:    
Revolving line of credit, current portion 0us-gaap_LinesOfCreditCurrent 2,071,495us-gaap_LinesOfCreditCurrent
Equipment line of credit, current portion 35,718hrt_EquipmentLineOfCreditCurrentPortionDue 0hrt_EquipmentLineOfCreditCurrentPortionDue
Term notes payable, current portion 589,635hrt_TermNotesPayableCurrentPortion 490,341hrt_TermNotesPayableCurrentPortion
Subordinated promissory notes 473,135us-gaap_SubordinatedDebtCurrent 0us-gaap_SubordinatedDebtCurrent
Accounts payable 1,553,388us-gaap_AccountsPayableCurrent 1,857,156us-gaap_AccountsPayableCurrent
Accrued expenses and other current liabilities 275,777us-gaap_OtherLiabilitiesCurrent 405,975us-gaap_OtherLiabilitiesCurrent
Customer deposits 93,407us-gaap_CustomerDepositsCurrent 98,110us-gaap_CustomerDepositsCurrent
Deferred revenue, current 272,837us-gaap_DeferredRevenueCurrent 228,363us-gaap_DeferredRevenueCurrent
Liabilities from discontinued operations, current 0us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent 320,056us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
Total current liabilities 3,293,897us-gaap_LiabilitiesCurrent 5,471,496us-gaap_LiabilitiesCurrent
Long-term liabilities:    
Revolving line of credit, non-current portion 1,511,495us-gaap_LongTermLineOfCredit 0us-gaap_LongTermLineOfCredit
Equipment line of credit, non-current portion 301,132hrt_EquipmentLineOfCreditNetOfCurrentPortion 0hrt_EquipmentLineOfCreditNetOfCurrentPortion
Term notes payable, non-current portion 1,120,652hrt_TermNotesPayableNonCurrentPortion 1,330,755hrt_TermNotesPayableNonCurrentPortion
Subordinated promissory notes 0us-gaap_SubordinatedLongTermDebt 445,452us-gaap_SubordinatedLongTermDebt
Deferred revenue, non-current 272,181us-gaap_DeferredRevenueNoncurrent 610,430us-gaap_DeferredRevenueNoncurrent
Total long-term liabilities 3,205,460us-gaap_LiabilitiesNoncurrent 2,386,637us-gaap_LiabilitiesNoncurrent
Total liabilities 6,499,357us-gaap_Liabilities 7,858,133us-gaap_Liabilities
Commitments and Contingencies      
Shareholders' equity:    
Preferred stock, $0.001 par value; 2,000,000 shares authorized, none issued 0us-gaap_PreferredStockValue 0us-gaap_PreferredStockValue
Common stock, $0.01 par value; 10,000,000 shares authorized; 3,926,491 issued, 2,801,639 outstanding at December 31, 2015 and 3,926,491 issued, 2,778,339 outstanding at December 31, 2014 39,265us-gaap_CommonStockValue 39,265us-gaap_CommonStockValue
Additional paid-in-capital 11,381,536us-gaap_AdditionalPaidInCapital 11,336,693us-gaap_AdditionalPaidInCapital
Treasury stock at cost, 1,124,852 shares at December 31, 2015 and 1,148,152 shares at December 31, 2014 (3,069,496)us-gaap_TreasuryStockValue (3,133,883)us-gaap_TreasuryStockValue
Accumulated other comprehensive income 0us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax 42,502us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
Accumulated deficit (1,468,628)us-gaap_RetainedEarningsAccumulatedDeficit (1,039,462)us-gaap_RetainedEarningsAccumulatedDeficit
Total shareholders' equity 6,882,677us-gaap_StockholdersEquity 7,245,115us-gaap_StockholdersEquity
Total liabilities and shareholders' equity $ 13,382,034us-gaap_LiabilitiesAndStockholdersEquity $ 15,103,248us-gaap_LiabilitiesAndStockholdersEquity

Consolidated Balance Sheets (Parenthetical)
v5.17.1.24
Consolidated Balance Sheets (Parenthetical) (USD $)
Dec. 31, 2015
Dec. 31, 2014
Consolidated Balance Sheets [Abstract]    
Allowance for doubtful accounts receivable, current $ 60,000us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent $ 45,000us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent
Preferred stock, par value per share $ 0.001us-gaap_PreferredStockParOrStatedValuePerShare $ 0.001us-gaap_PreferredStockParOrStatedValuePerShare
Preferred stock, shares authorized 2,000,000us-gaap_PreferredStockSharesAuthorized 2,000,000us-gaap_PreferredStockSharesAuthorized
Preferred stock, shares issued 0us-gaap_PreferredStockSharesIssued 0us-gaap_PreferredStockSharesIssued
Common stock, par value per share $ 0.01us-gaap_CommonStockParOrStatedValuePerShare $ 0.01us-gaap_CommonStockParOrStatedValuePerShare
Common stock, shares authorized 10,000,000us-gaap_CommonStockSharesAuthorized 10,000,000us-gaap_CommonStockSharesAuthorized
Common stock, shares issued 3,926,491us-gaap_CommonStockSharesIssued 3,926,491us-gaap_CommonStockSharesIssued
Common stock, shares outstanding 2,801,639us-gaap_CommonStockSharesOutstanding 2,778,339us-gaap_CommonStockSharesOutstanding
Treasury stock, shares 1,124,852us-gaap_TreasuryStockShares 1,148,152us-gaap_TreasuryStockShares

Consolidated Statements of Operations and Comprehensive Income (Loss)
v5.17.1.24
Consolidated Statements of Operations and Comprehensive Income (Loss) (USD $)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Consolidated Statements of Operations and Comprehensive Income (Loss) [Abstract]    
Net sales $ 21,495,184us-gaap_SalesRevenueNet $ 24,070,292us-gaap_SalesRevenueNet
Cost of sales 18,332,346us-gaap_CostOfGoodsAndServicesSold 19,432,241us-gaap_CostOfGoodsAndServicesSold
Gross profit 3,162,838us-gaap_GrossProfit 4,638,051us-gaap_GrossProfit
Selling and marketing 1,086,586us-gaap_SellingAndMarketingExpense 1,015,279us-gaap_SellingAndMarketingExpense
General and administrative 2,355,484us-gaap_GeneralAndAdministrativeExpense 2,322,795us-gaap_GeneralAndAdministrativeExpense
Research and development 241,100us-gaap_ResearchAndDevelopmentExpense 408,867us-gaap_ResearchAndDevelopmentExpense
Total operating expenses 3,683,170us-gaap_OperatingExpenses 3,746,941us-gaap_OperatingExpenses
Income (loss) from continuing operations (520,332)us-gaap_OperatingIncomeLoss 891,110us-gaap_OperatingIncomeLoss
Other income (expense):    
Interest expense (260,300)us-gaap_InterestExpense (274,138)us-gaap_InterestExpense
Other income (expense), net (10,212)us-gaap_OtherNonoperatingIncomeExpense 46,184us-gaap_OtherNonoperatingIncomeExpense
Total other expense, net (270,512)hrt_OtherIncomeExpenseNet (227,954)hrt_OtherIncomeExpenseNet
Income (loss) from continuing operations before income taxes (790,844)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 663,156us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax provision 932us-gaap_IncomeTaxExpenseBenefit 2,168us-gaap_IncomeTaxExpenseBenefit
Net income (loss) from continuing operations (791,776)us-gaap_IncomeLossFromContinuingOperations 660,988us-gaap_IncomeLossFromContinuingOperations
Discontinued Operations:    
Income (loss) from discontinued operations, net of tax provision of $0 for the years ended December 31, 2015 and 2014 (includes $42,502 accumulated other comprehensive income reclassification in 2015) 362,610us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity (1,779)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
Net income (loss) (429,166)us-gaap_NetIncomeLoss 659,209us-gaap_NetIncomeLoss
Other comprehensive income:    
Reclassification of gains from foreign currency translation (42,502)us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax  
Comprehensive income (loss) $ (471,668)us-gaap_ComprehensiveIncomeNetOfTax $ 659,209us-gaap_ComprehensiveIncomeNetOfTax
Earnings (loss) per share - basic    
Continuing operations $ (0.28)us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 0.24us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
Discontinued operations $ 0.13us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare $ 0.00us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
Earnings (loss) per share - basic $ (0.15)us-gaap_EarningsPerShareBasic $ 0.24us-gaap_EarningsPerShareBasic
Earnings (loss) per share - diluted    
Continuing operations $ (0.28)us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 0.23us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
Discontinued operations $ 0.13us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare $ 0.00us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
Earnings (loss) per share - diluted $ (0.15)us-gaap_EarningsPerShareDiluted $ 0.23us-gaap_EarningsPerShareDiluted
Weighted average common shares outstanding - basic 2,784,757us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 2,742,080us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Weighted average common shares outstanding - diluted 2,784,757us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 2,863,098us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding

Consolidated Statements of Operations and Comprehensive Income (Loss) (Parenthetical)
v5.17.1.24
Consolidated Statements of Operations and Comprehensive Income (Loss) (Parenthetical) (USD $)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Consolidated Statements of Operations and Comprehensive Income (Loss) [Abstract]    
Tax provision, discontinued operations $ 0us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation $ 0us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation
Accumulated other comprehensive income reclassification $ (42,502)us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax  

Consolidated Statements of Changes in Shareholders' Equity
v5.17.1.24
Consolidated Statements of Changes in Shareholders' Equity (USD $)
Common Stock [Member]
Additional paid-in capital [Member]
Treasury stock [Member]
Accumulated other comprehensive income [Member]
Retained earnings (accumulated deficit) [Member]
Total
Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 31, 2013 $ 39,265us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
$ 11,236,236us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
$ (3,272,808)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
$ 42,502us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
$ (1,698,671)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
$ 6,346,524us-gaap_StockholdersEquity
Shares, Outstanding, Beginning Balance at Dec. 31, 2013 3,926,491us-gaap_SharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
  1,204,252us-gaap_SharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
     
Share-based compensation - options   33,390us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
      33,390us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
Issuance of common stock from treasury, shares     (26,100)us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
     
Issuance of common stock from treasury   43,631us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
57,061us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
    100,692us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued
Exercise of warrants from treasury   23,436hrt_ExerciseOfWarrantsFromTreasuryValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
81,864hrt_ExerciseOfWarrantsFromTreasuryValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
    105,300hrt_ExerciseOfWarrantsFromTreasuryValue
Exercise of warrants from treasury, shares     (30,000)hrt_ExerciseOfWarrantsFromTreasuryShares
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
     
Net income (loss)         659,209us-gaap_NetIncomeLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
659,209us-gaap_NetIncomeLoss
Stockholders' Equity Attributable to Parent, Ending Balance at Dec. 31, 2014 39,265us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
11,336,693us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
(3,133,883)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
42,502us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
(1,039,462)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
7,245,115us-gaap_StockholdersEquity
Shares, Outstanding, Ending Balance at Dec. 31, 2014 3,926,491us-gaap_SharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
  1,148,152us-gaap_SharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
     
Accumulated comprehensive income from unrealized gains and losses in currency translation   (51)hrt_AccumulatedComprehensiveIncomeFromUnrealizedGainsAndLossesInCurrencyTranslation
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
  (42,502)hrt_AccumulatedComprehensiveIncomeFromUnrealizedGainsAndLossesInCurrencyTranslation
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
  (42,553)hrt_AccumulatedComprehensiveIncomeFromUnrealizedGainsAndLossesInCurrencyTranslation
Share-based compensation - options   29,178us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
      29,178us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
Issuance of common stock from treasury, shares     (23,300)us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
     
Issuance of common stock from treasury   15,716us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
64,387us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
    80,103us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued
Net income (loss)         (429,166)us-gaap_NetIncomeLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(429,166)us-gaap_NetIncomeLoss
Stockholders' Equity Attributable to Parent, Ending Balance at Dec. 31, 2015 $ 39,265us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
$ 11,381,536us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
$ (3,069,496)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
  $ (1,468,628)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
$ 6,882,677us-gaap_StockholdersEquity
Shares, Outstanding, Ending Balance at Dec. 31, 2015 3,926,491us-gaap_SharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
  1,124,852us-gaap_SharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
     

Consolidated Statements of Cash Flows
v5.17.1.24
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:    
Net income (loss) $ (429,166)us-gaap_NetIncomeLoss $ 659,209us-gaap_NetIncomeLoss
Loss (income) from discontinued operations (362,610)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity 1,779us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
(Gain) loss on sale of property, plant and equipment 13,320us-gaap_GainLossOnSaleOfPropertyPlantEquipment (21,000)us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Depreciation and amortization 1,464,588us-gaap_DepreciationDepletionAndAmortization 1,475,806us-gaap_DepreciationDepletionAndAmortization
Impairment of intangibles 118,318us-gaap_ImpairmentOfIntangibleAssetsFinitelived 63,087us-gaap_ImpairmentOfIntangibleAssetsFinitelived
Non-cash interest expense 27,683hrt_NonCashInterestExpense 27,683hrt_NonCashInterestExpense
Change in allowance for doubtful accounts 15,000us-gaap_AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease 5,000us-gaap_AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
Share-based compensation expense 29,178us-gaap_ShareBasedCompensation 33,390us-gaap_ShareBasedCompensation
Changes in operating assets and liabilities:    
Accounts receivable 723,394us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables 262,106us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables
Inventories 395,529us-gaap_IncreaseDecreaseInInventories (178,950)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other current assets (94,547)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (6,385)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Other non-current assets 301,522us-gaap_IncreaseDecreaseInOtherNoncurrentAssets (384,762)us-gaap_IncreaseDecreaseInOtherNoncurrentAssets
Accounts payable (303,768)us-gaap_IncreaseDecreaseInAccountsPayable (298,875)us-gaap_IncreaseDecreaseInAccountsPayable
Accrued expenses and other current liabilities (90,426)us-gaap_IncreaseDecreaseInAccruedLiabilities (294,351)us-gaap_IncreaseDecreaseInAccruedLiabilities
Other non-current liabilities (338,249)us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities 438,114us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities
Net cash provided by (used in) operating activities of continuing operations 1,469,766us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 1,781,851us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Net cash provided by (used in) operating activites of discontinued operations 0us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations (1,509)us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
Net cash provided by (used in) operating activities 1,469,766us-gaap_NetCashProvidedByUsedInOperatingActivities 1,780,342us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:    
Purchases of property, plant and equipment (1,182,541)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (1,514,678)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from sale of property, plant and equipment 35,700us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 24,500us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Cash paid for patents and trademarks (6,176)hrt_CashPaidForPatentsAndTrademarks (16,566)hrt_CashPaidForPatentsAndTrademarks
Net cash provided by (used in) investing activities from continuing operations (1,153,017)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (1,506,744)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Net cash provided by (used in) investing activities from discontinued operations 0us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations 0us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
Net cash provided by (used in) investing activities (1,153,017)us-gaap_NetCashProvidedByUsedInInvestingActivities (1,506,744)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:    
Proceeds from (payments on) revolving line of credit, net (560,000)hrt_ProceedsFromPaymentsOnRevolvingLineOfCreditNet (703,000)hrt_ProceedsFromPaymentsOnRevolvingLineOfCreditNet
Proceeds from equipment line of credit 752,635hrt_ProceedsFromEquipmentLineOfCredit 116,905hrt_ProceedsFromEquipmentLineOfCredit
Payments on term notes payable (526,594)us-gaap_RepaymentsOfMediumTermNotes (435,372)us-gaap_RepaymentsOfMediumTermNotes
Proceeds from warrant exercises 0us-gaap_ProceedsFromWarrantExercises 105,300us-gaap_ProceedsFromWarrantExercises
Proceeds from stock option exercises 80,103us-gaap_ProceedsFromStockOptionsExercised 100,692us-gaap_ProceedsFromStockOptionsExercised
Net cash provided by (used in) financing activities from continuing operations (253,856)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (815,475)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net cash provided by (used in) financing activities from discontinued operations 0us-gaap_CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations 0us-gaap_CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
Net cash provided by (used in) financing activities (253,856)us-gaap_NetCashProvidedByUsedInFinancingActivities (815,475)us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase (decrease) in cash and cash equivalents 62,893us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (541,877)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of period 209,398us-gaap_Cash 751,275us-gaap_Cash
Cash and cash equivalents, end of period 272,291us-gaap_Cash 209,398us-gaap_Cash
Less: cash and cash equivalents of discontinued operations at end of period 0us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents 0us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
Cash and cash equivalents of continuing operations at end of period 272,291us-gaap_CashAndCashEquivalentsAtCarryingValue 209,398us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental Cash Flow Information (unaudited)    
Cash paid for interest 222,237us-gaap_InterestPaid 228,255us-gaap_InterestPaid
Cash received from tax refunds 0us-gaap_IncomeTaxRefundsDiscontinuedOperations 132us-gaap_IncomeTaxRefundsDiscontinuedOperations
Non-cash activities:    
Reclassified assets held for sale 665,000hrt_ReclassifiedAssetsHeldForSale  
Equipment line of credit converted to term notes payable 415,785hrt_EquipmentLineOfCreditConvertedIntoNewDebt 740,999hrt_EquipmentLineOfCreditConvertedIntoNewDebt
Reduction of restricted cash offset by performance guarantee $ 0hrt_ReductionOfRestrictedCashOffsetByPerformanceGuarantee $ 975,430hrt_ReductionOfRestrictedCashOffsetByPerformanceGuarantee

Consolidated Statements of Cash Flows (Additional Information)
v5.17.1.24
Consolidated Statements of Cash Flows (Additional Information) (USD $)
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Consolidated Statements of Cash Flows [Abstract]      
Cash and cash equivalents, end of period $ 272,291us-gaap_Cash $ 209,398us-gaap_Cash $ 751,275us-gaap_Cash
Less: cash and cash equivalents of discontinued operations at end of period 0us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents 0us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents  
Cash and cash equivalents of continuing operations at end of period $ 272,291us-gaap_CashAndCashEquivalentsAtCarryingValue $ 209,398us-gaap_CashAndCashEquivalentsAtCarryingValue  

Description of Business
v5.17.1.24
Description of Business
12 Months Ended
Dec. 31, 2015
Description of Business [Abstract]  
Description of Business

1.  Description of Business

 

Arrhythmia Research Technology®, Inc., (“ART”), through its wholly-owned subsidiary, Micron Products®, Inc. ("Micron", and collectively with ART, the "Company") is a diversified contract manufacturing organization (“CMO”)  that produces highly-engineered, innovative components requiring precision machining and injection molding. The Company also manufactures components, devices and equipment for military, law enforcement, automotive and consumer products applications. The Company's capabilities include molding and silver plating of medical sensors, thermoplastic injection molding, customer-specific quick-turn orthopedic implant component manufacturing and custom products for military and law enforcement applications. The Company competes globally, with nearly forty percent of its revenue derived from exports.

 

ART was founded in 1986, completed an initial public offering in 1988 and shares have been listed on the NYSE MKT since 1992. Its stock trades under the symbol HRT. The Company has grown organically and through acquisitions. Today, the Company has diversified manufacturing capabilities with the capacity to participate in full product life-cycle activities from early stage development and engineering and prototyping to full scale manufacturing as well as packaging and product fulfillment services.

 

The Company's subsidiary, RMDDxUSA Corp. and its Prince Edward Island subsidiary RMDDx Corporation (collectively "WirelessDx"), discontinued operations in 2012, filed for relief under Chapter 7 (Liquidation) of the United States Bankruptcy Code in May 2014 and in March 2015, the Chapter 7 Order was formally discharged and the case was closed (see Note 12).

 

Operating matters and liquidity

 

The revolver under the Company's credit facility has a maturity date of June 2017 (see Note 5). At December 31, 2015, the outstanding balance on the revolver was $1,511,495.  The Company believes that cash flows from its operations, together with its existing working capital, the revolver and other resources, will be sufficient to fund operations at current levels and repay debt obligations over the next twelve months and beyond; however, there can be no assurance that the Company will be able to do so.

 


Description of Business (Details)
v5.17.1.24
Description of Business (Details) (USD $)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Line of Credit Facility [Line Items]    
Percent of revenue derived from exports 40.00%hrt_PercentOfRevenueDerivedFromExports  
Revolving Credit Facility [Member]    
Line of Credit Facility [Line Items]    
Outstanding balance, line of credit 1,511,495us-gaap_LineOfCredit
/ us-gaap_CreditFacilityAxis
= us-gaap_RevolvingCreditFacilityMember
$ 2,071,495us-gaap_LineOfCredit
/ us-gaap_CreditFacilityAxis
= us-gaap_RevolvingCreditFacilityMember

Accounting Policies
v5.17.1.24
Accounting Policies
12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Accounting Policies

2.  Accounting Policies

 

Principles of consolidation

 

The consolidated financial statements (the "financial statements") include the accounts of ART, Micron and WirelessDx. WirelessDx is presented herein as discontinued operations. All intercompany balances and transactions have been eliminated in consolidation.

 

Use of estimates

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods.  Actual results could differ from those estimates.

 

Revenue Recognition

 

Product revenue is recorded when all criteria for revenue recognition have been satisfied, which is generally when goods are shipped to the Company's customers. Product revenue is recognized in the period when persuasive evidence of an arrangement with a customer exists, the products are shipped and title has transferred to the customer, the price is fixed or determined and collection is probable.

 

The Company enters into arrangements containing multiple elements which may include a combination of the sale of molds, tooling, engineering and validation services ("tooling") and production units. The Company has determined that certain tooling arrangements, and the related production units, represent one unit of accounting, based on an assessment of the respective standalone value. When the Company determines that an arrangement represents one unit of accounting, the revenue is deferred over the estimated product life-cycle, based upon historical knowledge of the customer, which is generally three years. The Company carries the sales and tooling costs, associated with the related arrangement, as deferred revenue and other current and non-current assets, respectively, on the Company's balance sheet. As the deferred revenue is amortized to sales, the associated prepaid tooling costs are amortized to cost of sales.

 

The Company cannot effectively predict short-term or long-term production volume in a consistent and meaningful manner due to the nature of these molds and associated products. Therefore, the Company is unable to account for the transactions under the Units of Production method and management has determined the most appropriate amortization method to be the Straight-Line method.

 

The Company may from time to time, at the customer's request, enter into a bill and hold arrangement. The Company evaluates the nature of the arrangement including, but not limited to (i) the customer's business purpose, (ii) the transfer of risk of ownership to the customer and (iii) the segregation of inventory, along with other elements in accordance with relevant accounting guidance to determine the appropriate method of revenue recognition for each arrangement.

 

Revenue for software license sales is recognized when licenses are sold as the revenue cycle is completed with no warranty, returns or technical support to customers. Total revenue from software sales was immaterial in relation to consolidated revenues.

 

Fair value of financial instruments

 

The carrying amount reported in the balance sheets for cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate their fair value due to the immediate or short-term nature of such instruments. The carrying value of debt approximates fair value since it provides for market terms and interest rates.

 

Concentration of credit risk

 

Financial instruments which potentially expose the Company to concentrations of credit risk consist primarily of accounts receivable and cash and cash equivalents. It is the Company’s policy to place its cash in high quality financial institutions. The Company does not believe significant credit risk exists above federally insured limits with respect to these institutions.

 

Accounts receivable are customer obligations due under normal trade terms. A large portion of the Company's products are sold to large diversified medical, military and law enforcement product manufacturers. The Company does not generally require collateral for its sales; however, the Company believes that its terms of sale provide adequate protection against credit risk.    While the Company has a strong record of collecting on its receivables, the Company maintains Accounts Receivables insurance in order to mitigate concentration of credit risk where our top five customers in revenue constituted 51% of the AR at December 31, 2015 as compared to 55% at December 31, 2014.

 

During the year ended December 31, 2015, the Company had net sales to two customers constituting 16% and 13% of total 2015 net sales. Accounts receivable from these two customers at December 31, 2015 was 9% each of the total accounts receivable balance at year end. During the year ended December 31, 2014, the Company had net sales to four customers constituting 15%,  13%,  12% and 10%, respectively, of total 2014 net sales. Accounts receivable from the four customers at December 31, 2014 was 11%,  9%,  15% and 14%, respectively, of the total accounts receivable balance at year end.

 

Cash and cash equivalents

 

Cash and cash equivalents consist of cash on hand and on deposit in high quality financial institutions with maturities of three months or less at the time of purchase.

 

Accounts Receivable and Allowance for Doubtful Accounts

 

Accounts receivable represent amounts invoiced by the Company. Management maintains an allowance for doubtful accounts based on information obtained regarding individual accounts and historical experience. Amounts deemed uncollectible are written off against the allowance for doubtful accounts.  Bad debts have not had a significant impact on the Company’s financial position, results of operations and cash flows. 

 

Inventories

 

The Company values its inventory at the lower of average cost, first-in-first-out (FIFO) or net realizable value. The Company reviews its inventory for quantities in excess of production requirements, obsolescence and for compliance with internal quality specifications. Any adjustments to inventory would be equal to the difference between the cost of inventory and the estimated net market value based upon assumptions about future demand, market conditions and expected cost to distribute those products to market. The Company records adjustments to account for potential scrap during normal manufacturing operations or potential obsolesce for slow moving inventory.

 

Property, plant and equipment

 

Property, plant and equipment are recorded at cost and include expenditures which substantially extend their useful lives. Depreciation on property, plant and equipment is calculated using the straight-line method over the estimated useful lives of the assets. Expenditures for maintenance and repairs are charged to earnings as incurred. When equipment is retired or sold, the resulting gain or loss is reflected in earnings.

 

       Assets held for sale

 

Property classified as held for sale is measured at the lower of its carrying value or fair value less cost to sell.  Gains or losses are recognized for any subsequent changes to fair value less cost to sell; however, gains that may be recognized are limited by cumulative losses previously recognized.  Property held for sale is not depreciated.

 

Property is classified as held for sale in the period in which management with the appropriate authority commits to a plan to sell the asset; the asset is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets; an active program to locate a buyer and other actions required to complete the plan of sale have been initiated; the sale of the property or asset within one year is probable and will qualify for accounting purposes as a sale; the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and actions required to complete the plan of sale indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.  Long-lived assets classified as held for sale are presented separately in the statement of financial position of the current period. 

 

Fair value hierarchy

 

The Company groups its assets and liabilities generally measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. 

 

Level 1 – Valuation is based on quoted prices in active markets for identical assets or liabilities.  Valuations are obtained from readily available pricing sources.

 

Level 2 – Valuation is based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.  

 

Level 3 – Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.  Level 3 assets and liabilities include financial instruments whose value is determined using unobservable inputs to pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.  

 

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.  The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment. 

 

The Company recognizes transfers between levels at the end of the reporting period.  

 

At December 31, 2015, assets held for sale is the only item in the financial statements reflected at fair value.    Assets held for sale are considered level 3.  The fair value of assets held for sale was determined using the sales price per a purchase and sale agreement less the estimated cost to sell.

 

Long-lived and intangible assets

 

The Company assesses the impairment of long-lived assets and intangible assets with finite lives annually or whenever events or changes in circumstances indicate that the carrying value may not be fully recoverable. Based upon the annual review, the Company recorded impairment charges of $118,318 and $63,087 in 2015 and 2014, respectively.

   

In 2015, the Company reviewed unamortized costs for patents pending.  As a result of this review, the Company determined that the patents pending related to the Triggering Recharging and Wireless Transmission of Remote Patient Monitoring Device, as well as the Seed-Beat Selection Method for Signal-Averaged Electrocardiography were no longer patentable and recorded an impairment charge of $103,287 for the full costs of these patents pending.  Additionally, after a review of trade names, the Company determined that the Leominster Tool & Die no longer provided any future economic benefit and recorded an impairment charge of $15,031 for the remaining unamortized balance of the trade names. 

 

In 2014, the Company reviewed unamortized costs for patents pending.  As a result of this review, the Company determined that the patent pending related to the Ambulatory Physiological Monitoring with Remote Analysis were no longer patentable and recorded an impairment charge of $56,237 for the full costs of these patents pending. Additionally, the Company recorded an impairment charge of $6,850 related to its tradename PureTrace, therefore, the total impairment was $63,087.

 

 

Intangible assets consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

December 31, 2015

 

December 31, 2014

 

 

Useful Life

 

 

 

 

Accumulated

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

(in years)

 

Gross

 

Amortization

 

Net

 

Gross

 

Amortization

 

Net

Patents and trademarks

 

10 

 

$

26,290 

 

 

7,981 

 

$

18,309 

 

$

414,436 

 

$

394,371 

 

$

20,065 

Patents and trademarks pending

 

 —

 

 

336 

 

 

 

 

 

336 

 

 

97,447 

 

 

 —

 

 

97,447 

Trade names

 

 —

 

 

 

 

 

 

 

 

 —

 

 

33,250 

 

 

16,740 

 

 

16,510 

Total intangible assets

 

 

 

$

26,626 

 

$

7,981 

 

$

18,645 

 

$

545,133 

 

$

411,111 

 

$

134,022 

 

Amortization expense related to intangible assets, excluding the above noted impairment charge, was $3,235 and $3,974 in 2015 and 2014, respectively. Estimated future annual amortization expense for currently amortizing intangible assets is expected to approximate $1,756.

 

Income taxes

 

The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement and tax bases of assets and liabilities using tax rates in effect for the year in which the differences are expected to reverse.  

 

The Company follows the provisions of FASB ASC 740, “Accounting for Uncertainty in Income Taxes—An Interpretation of FASB No. 109.” FASB ASC 740 provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements in accordance with SFAS No. 109. Tax positions must meet a “more-likely-than-not” recognition threshold at the effective date to be recognized upon the adoption of FASB ASC 740 and in subsequent periods. No interest and penalties related to uncertain tax positions were accrued at December 31, 2015.    The Company’s primary operations are located in the US. Tax years ended December 31, 2012 or later remain subject to examination by the IRS and state taxing authorities.

 

Share-based compensation

 

Share-based compensation cost is measured at the grant date, based on the fair value of the award, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the share-based grant).

 

Comprehensive income

 

In 2015 and 2014, the Company has accumulated other comprehensive income of $0 and $42,502, respectively.  In 2015, the change in accumulated comprehensive income was a result of the 2015 bankruptcy filing of RMDDxUSA Corp.

 

Earnings per share data

 

Basic earnings (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding.  The computation of diluted earnings (loss) per share is similar to the computation of basic earnings (loss) per share except that the denominator is increased to include the average number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued.  In addition, the numerator is adjusted for any changes in net income (loss) that would result from the assumed conversions of those potential shares.

 

Research and development

 

Research and development expenses include costs directly attributable to conducting research and development programs primarily related to the development of a unique process to improve silver coating during the manufacturing processes, including the design and testing of specific process improvements for certain medical device components. Such costs include salaries, payroll taxes, employee benefit costs, materials, supplies, depreciation on research equipment, and services provided by outside contractors.  All costs associated with research and development programs are expensed as incurred.

 

Recently Issued Accounting Pronouncements

 

In the normal course of business, management evaluates all new accounting pronouncements issued by the FASB, SEC, Emerging Issues Task Force (“EITF”), or other authoritative accounting bodies to determine the potential impact they may have on the Company’s Consolidated Financial Statements. Based upon this review, except as noted below, management does not expect any of the recently issued accounting pronouncements, which have not already been adopted, to have a material impact on the Company’s Consolidated Financial Statements.

 

In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which requires companies to recognize all leases as assets and liabilities on the consolidated balance sheet. This ASU retains a distinction between finance leases and operating leases, and the classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the current accounting literature. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model in Topic 842, the effect of leases in a consolidated statement of comprehensive income and a consolidated statement of cash flows is largely unchanged from previous GAAP.  The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Earlier application is permitted. The Company is currently evaluating the impact that the adoption of this ASU will have on its Consolidated Financial Statements.

 

In July 2015, the FASB issued ASU No. 2015-11, “Simplifying the Measurement of Inventory,” which simplifies the subsequent measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This ASU is effective for public business entities for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company is currently assessing the impact of adopting this ASU on its Consolidated Financial Statements.

 

In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers.” The core principle behind ASU No. 2014-09 is that an entity should recognize revenue in an amount that reflects the consideration to which the entity expects to be entitled in exchange for delivering goods and services. This model involves a five-step process that includes identifying the contract with the customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations in the contract and recognizing revenue when the entity satisfies the performance obligations. This ASU allows two methods of adoption; a full retrospective approach where historical financial information is presented in accordance with the new standard, and a modified retrospective approach where this ASU is applied to the most current period presented in the financial statements. In August 2015, the FASB issued ASU No 2015-14 “Revenue from Contracts with Customers: Deferral of the Effective Date,” which deferred the effective date of ASU 2014-09 to annual reporting periods beginning after December 15, 2017, with earlier application permitted as of annual reporting periods beginning after December 15, 2016. The Company is currently assessing the financial impact of adopting ASU 2014-09 and the methods of adoption; however, given the scope of the new standard, the Company is currently unable to provide a reasonable estimate regarding the financial impact or which method of adoption will be elected.

 

In April 2014, the FASB issued ASU No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” which amends the definition of a discontinued operation and requires entities to provide additional disclosures about disposal transactions that do not meet the discontinued operations criteria. The revised ASU changes how entities identify and disclose information about disposal transactions under U.S. GAAP. This ASU is effective prospectively for all disposals (except disposals classified as held for sale before the adoption date) or components initially classified as held for sale in periods beginning on or after December 15, 2014. This ASU is applicable for disposal transactions, if any, that the Company enters into after January 2, 2015. This ASU did not materially impact the Company’s Consolidated Financial Statements.

 

Reclassification of prior period balances

 

Amounts in prior year financial statements are reclassified when necessary to conform to the current year presentation.

   

 

 


Accounting Policies (Policies)
v5.17.1.24
Accounting Policies (Policies)
12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Principles of consolidation

Principles of consolidation

 

The consolidated financial statements (the "financial statements") include the accounts of ART, Micron and WirelessDx. WirelessDx is presented herein as discontinued operations. All intercompany balances and transactions have been eliminated in consolidation.

Use of estimates

Use of estimates

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods.  Actual results could differ from those estimates.

Revenue Recognition

Revenue Recognition

 

Product revenue is recorded when all criteria for revenue recognition have been satisfied, which is generally when goods are shipped to the Company's customers. Product revenue is recognized in the period when persuasive evidence of an arrangement with a customer exists, the products are shipped and title has transferred to the customer, the price is fixed or determined and collection is probable.

 

The Company enters into arrangements containing multiple elements which may include a combination of the sale of molds, tooling, engineering and validation services ("tooling") and production units. The Company has determined that certain tooling arrangements, and the related production units, represent one unit of accounting, based on an assessment of the respective standalone value. When the Company determines that an arrangement represents one unit of accounting, the revenue is deferred over the estimated product life-cycle, based upon historical knowledge of the customer, which is generally three years. The Company carries the sales and tooling costs, associated with the related arrangement, as deferred revenue and other current and non-current assets, respectively, on the Company's balance sheet. As the deferred revenue is amortized to sales, the associated prepaid tooling costs are amortized to cost of sales.

 

The Company cannot effectively predict short-term or long-term production volume in a consistent and meaningful manner due to the nature of these molds and associated products. Therefore, the Company is unable to account for the transactions under the Units of Production method and management has determined the most appropriate amortization method to be the Straight-Line method.

 

The Company may from time to time, at the customer's request, enter into a bill and hold arrangement. The Company evaluates the nature of the arrangement including, but not limited to (i) the customer's business purpose, (ii) the transfer of risk of ownership to the customer and (iii) the segregation of inventory, along with other elements in accordance with relevant accounting guidance to determine the appropriate method of revenue recognition for each arrangement.

 

Revenue for software license sales is recognized when licenses are sold as the revenue cycle is completed with no warranty, returns or technical support to customers. Total revenue from software sales was immaterial in relation to consolidated revenues.

Fair value of financial instruments

Fair value of financial instruments

 

The carrying amount reported in the balance sheets for cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate their fair value due to the immediate or short-term nature of such instruments. The carrying value of debt approximates fair value since it provides for market terms and interest rates.

Concentration of credit risk

Concentration of credit risk

 

Financial instruments which potentially expose the Company to concentrations of credit risk consist primarily of accounts receivable and cash and cash equivalents. It is the Company’s policy to place its cash in high quality financial institutions. The Company does not believe significant credit risk exists above federally insured limits with respect to these institutions.

 

Accounts receivable are customer obligations due under normal trade terms. A large portion of the Company's products are sold to large diversified medical, military and law enforcement product manufacturers. The Company does not generally require collateral for its sales; however, the Company believes that its terms of sale provide adequate protection against credit risk.    While the Company has a strong record of collecting on its receivables, the Company maintains Accounts Receivables insurance in order to mitigate concentration of credit risk where our top five customers in revenue constituted 51% of the AR at December 31, 2015 as compared to 55% at December 31, 2014.

 

During the year ended December 31, 2015, the Company had net sales to two customers constituting 16% and 13% of total 2015 net sales. Accounts receivable from these two customers at December 31, 2015 was 9% each of the total accounts receivable balance at year end. During the year ended December 31, 2014, the Company had net sales to four customers constituting 15%,  13%,  12% and 10%, respectively, of total 2014 net sales. Accounts receivable from the four customers at December 31, 2014 was 11%,  9%,  15% and 14%, respectively, of the total accounts receivable balance at year end.

Cash and cash equivalents

Cash and cash equivalents

 

Cash and cash equivalents consist of cash on hand and on deposit in high quality financial institutions with maturities of three months or less at the time of purchase.

Accounts receivable and Allowance for Doubtful Accounts

Accounts Receivable and Allowance for Doubtful Accounts

 

Accounts receivable represent amounts invoiced by the Company. Management maintains an allowance for doubtful accounts based on information obtained regarding individual accounts and historical experience. Amounts deemed uncollectible are written off against the allowance for doubtful accounts.  Bad debts have not had a significant impact on the Company’s financial position, results of operations and cash flows. 

Inventories

Inventories

 

The Company values its inventory at the lower of average cost, first-in-first-out (FIFO) or net realizable value. The Company reviews its inventory for quantities in excess of production requirements, obsolescence and for compliance with internal quality specifications. Any adjustments to inventory would be equal to the difference between the cost of inventory and the estimated net market value based upon assumptions about future demand, market conditions and expected cost to distribute those products to market. The Company records adjustments to account for potential scrap during normal manufacturing operations or potential obsolesce for slow moving inventory.

Property, plant and equipment

Property, plant and equipment

 

Property, plant and equipment are recorded at cost and include expenditures which substantially extend their useful lives. Depreciation on property, plant and equipment is calculated using the straight-line method over the estimated useful lives of the assets. Expenditures for maintenance and repairs are charged to earnings as incurred. When equipment is retired or sold, the resulting gain or loss is reflected in earnings.

Assets held for sale

Assets held for sale

 

Property classified as held for sale is measured at the lower of its carrying value or fair value less cost to sell.  Gains or losses are recognized for any subsequent changes to fair value less cost to sell; however, gains that may be recognized are limited by cumulative losses previously recognized.  Property held for sale is not depreciated.

 

Property is classified as held for sale in the period in which management with the appropriate authority commits to a plan to sell the asset; the asset is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets; an active program to locate a buyer and other actions required to complete the plan of sale have been initiated; the sale of the property or asset within one year is probable and will qualify for accounting purposes as a sale; the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and actions required to complete the plan of sale indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.  Long-lived assets classified as held for sale are presented separately in the statement of financial position of the current period. 

Fair value heirarchy

Fair value hierarchy

 

The Company groups its assets and liabilities generally measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. 

 

Level 1 – Valuation is based on quoted prices in active markets for identical assets or liabilities.  Valuations are obtained from readily available pricing sources.

 

Level 2 – Valuation is based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.  

 

Level 3 – Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.  Level 3 assets and liabilities include financial instruments whose value is determined using unobservable inputs to pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.  

 

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.  The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment. 

 

The Company recognizes transfers between levels at the end of the reporting period.  

 

At December 31, 2015, assets held for sale is the only item in the financial statements reflected at fair value.    Assets held for sale are considered level 3.  The fair value of assets held for sale was determined using the sales price per a purchase and sale agreement less the estimated cost to sell.

Long-lived and intangible assets

Long-lived and intangible assets

 

The Company assesses the impairment of long-lived assets and intangible assets with finite lives annually or whenever events or changes in circumstances indicate that the carrying value may not be fully recoverable. Based upon the annual review, the Company recorded impairment charges of $118,318 and $63,087 in 2015 and 2014, respectively.

   

In 2015, the Company reviewed unamortized costs for patents pending.  As a result of this review, the Company determined that the patents pending related to the Triggering Recharging and Wireless Transmission of Remote Patient Monitoring Device, as well as the Seed-Beat Selection Method for Signal-Averaged Electrocardiography were no longer patentable and recorded an impairment charge of $103,287 for the full costs of these patents pending.  Additionally, after a review of trade names, the Company determined that the Leominster Tool & Die no longer provided any future economic benefit and recorded an impairment charge of $15,031 for the remaining unamortized balance of the trade names. 

 

In 2014, the Company reviewed unamortized costs for patents pending.  As a result of this review, the Company determined that the patent pending related to the Ambulatory Physiological Monitoring with Remote Analysis were no longer patentable and recorded an impairment charge of $56,237 for the full costs of these patents pending. Additionally, the Company recorded an impairment charge of $6,850 related to its tradename PureTrace, therefore, the total impairment was $63,087.

 

 

Intangible assets consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

December 31, 2015

 

December 31, 2014

 

 

Useful Life

 

 

 

 

Accumulated

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

(in years)

 

Gross

 

Amortization

 

Net

 

Gross

 

Amortization

 

Net

Patents and trademarks

 

10 

 

$

26,290 

 

 

7,981 

 

$

18,309 

 

$

414,436 

 

$

394,371 

 

$

20,065 

Patents and trademarks pending

 

 —

 

 

336 

 

 

 

 

 

336 

 

 

97,447 

 

 

 —

 

 

97,447 

Trade names

 

 —

 

 

 

 

 

 

 

 

 —

 

 

33,250 

 

 

16,740 

 

 

16,510 

Total intangible assets

 

 

 

$

26,626 

 

$

7,981 

 

$

18,645 

 

$

545,133 

 

$

411,111 

 

$

134,022 

 

Amortization expense related to intangible assets, excluding the above noted impairment charge, was $3,235 and $3,974 in 2015 and 2014, respectively. Estimated future annual amortization expense for currently amortizing intangible assets is expected to approximate $1,756.

Income taxes

Income taxes

 

The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement and tax bases of assets and liabilities using tax rates in effect for the year in which the differences are expected to reverse.  

 

The Company follows the provisions of FASB ASC 740, “Accounting for Uncertainty in Income Taxes—An Interpretation of FASB No. 109.” FASB ASC 740 provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements in accordance with SFAS No. 109. Tax positions must meet a “more-likely-than-not” recognition threshold at the effective date to be recognized upon the adoption of FASB ASC 740 and in subsequent periods. No interest and penalties related to uncertain tax positions were accrued at December 31, 2015.    The Company’s primary operations are located in the US. Tax years ended December 31, 2012 or later remain subject to examination by the IRS and state taxing authorities.

Share-based compensation

Share-based compensation

 

Share-based compensation cost is measured at the grant date, based on the fair value of the award, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the share-based grant).

Comprehensive income

Comprehensive income

 

In 2015 and 2014, the Company has accumulated other comprehensive income of $0 and $42,502, respectively.  In 2015, the change in accumulated comprehensive income was a result of the 2015 bankruptcy filing of RMDDxUSA Corp.

Earnings per share data

Earnings per share data

 

Basic earnings (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding.  The computation of diluted earnings (loss) per share is similar to the computation of basic earnings (loss) per share except that the denominator is increased to include the average number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued.  In addition, the numerator is adjusted for any changes in net income (loss) that would result from the assumed conversions of those potential shares.

Research and development

Research and development

 

Research and development expenses include costs directly attributable to conducting research and development programs primarily related to the development of a unique process to improve silver coating during the manufacturing processes, including the design and testing of specific process improvements for certain medical device components. Such costs include salaries, payroll taxes, employee benefit costs, materials, supplies, depreciation on research equipment, and services provided by outside contractors.  All costs associated with research and development programs are expensed as incurred.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

 

In the normal course of business, management evaluates all new accounting pronouncements issued by the FASB, SEC, Emerging Issues Task Force (“EITF”), or other authoritative accounting bodies to determine the potential impact they may have on the Company’s Consolidated Financial Statements. Based upon this review, except as noted below, management does not expect any of the recently issued accounting pronouncements, which have not already been adopted, to have a material impact on the Company’s Consolidated Financial Statements.

 

In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which requires companies to recognize all leases as assets and liabilities on the consolidated balance sheet. This ASU retains a distinction between finance leases and operating leases, and the classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the current accounting literature. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model in Topic 842, the effect of leases in a consolidated statement of comprehensive income and a consolidated statement of cash flows is largely unchanged from previous GAAP.  The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Earlier application is permitted. The Company is currently evaluating the impact that the adoption of this ASU will have on its Consolidated Financial Statements.

 

In July 2015, the FASB issued ASU No. 2015-11, “Simplifying the Measurement of Inventory,” which simplifies the subsequent measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This ASU is effective for public business entities for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company is currently assessing the impact of adopting this ASU on its Consolidated Financial Statements.

 

In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers.” The core principle behind ASU No. 2014-09 is that an entity should recognize revenue in an amount that reflects the consideration to which the entity expects to be entitled in exchange for delivering goods and services. This model involves a five-step process that includes identifying the contract with the customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations in the contract and recognizing revenue when the entity satisfies the performance obligations. This ASU allows two methods of adoption; a full retrospective approach where historical financial information is presented in accordance with the new standard, and a modified retrospective approach where this ASU is applied to the most current period presented in the financial statements. In August 2015, the FASB issued ASU No 2015-14 “Revenue from Contracts with Customers: Deferral of the Effective Date,” which deferred the effective date of ASU 2014-09 to annual reporting periods beginning after December 15, 2017, with earlier application permitted as of annual reporting periods beginning after December 15, 2016. The Company is currently assessing the financial impact of adopting ASU 2014-09 and the methods of adoption; however, given the scope of the new standard, the Company is currently unable to provide a reasonable estimate regarding the financial impact or which method of adoption will be elected.

 

In April 2014, the FASB issued ASU No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” which amends the definition of a discontinued operation and requires entities to provide additional disclosures about disposal transactions that do not meet the discontinued operations criteria. The revised ASU changes how entities identify and disclose information about disposal transactions under U.S. GAAP. This ASU is effective prospectively for all disposals (except disposals classified as held for sale before the adoption date) or components initially classified as held for sale in periods beginning on or after December 15, 2014. This ASU is applicable for disposal transactions, if any, that the Company enters into after January 2, 2015. This ASU did not materially impact the Company’s Consolidated Financial Statements.

Reclassification of prior period balances

Reclassification of prior period balances

 

Amounts in prior year financial statements are reclassified when necessary to conform to the current year presentation.

   

 


Accounting Policies (Tables)
v5.17.1.24
Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Intangibles Assets, Net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

December 31, 2015

 

December 31, 2014

 

 

Useful Life

 

 

 

 

Accumulated

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

(in years)

 

Gross

 

Amortization

 

Net

 

Gross

 

Amortization

 

Net

Patents and trademarks

 

10 

 

$

26,290 

 

 

7,981 

 

$

18,309 

 

$

414,436 

 

$

394,371 

 

$

20,065 

Patents and trademarks pending

 

 —

 

 

336 

 

 

 

 

 

336 

 

 

97,447 

 

 

 —

 

 

97,447 

Trade names

 

 —

 

 

 

 

 

 

 

 

 —

 

 

33,250 

 

 

16,740 

 

 

16,510 

Total intangible assets

 

 

 

$

26,626 

 

$

7,981 

 

$

18,645 

 

$

545,133 

 

$

411,111 

 

$

134,022 

 


Accounting Policies (Narrative) (Details)
v5.17.1.24
Accounting Policies (Narrative) (Details) (USD $)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Concentration Risk [Line Items]    
General revenue recognition period 3 years  
Impairment of intangibles $ 118,318us-gaap_ImpairmentOfIntangibleAssetsFinitelived $ 63,087us-gaap_ImpairmentOfIntangibleAssetsFinitelived
Amortization expense 3,235us-gaap_AmortizationOfIntangibleAssets 3,974us-gaap_AmortizationOfIntangibleAssets
Estimated future amortization 1,756hrt_EstimatedFutureAmortization  
Interest or penalties related to unrecognized tax positions 0us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense  
Accumulated other comprehensive income 0us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax 42,502us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
Sales Revenue, Net [Member]    
Concentration Risk [Line Items]    
Number of customers, concentration of credit risk 2hrt_NumberOfCustomersConcentrationOfCreditRisk
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_SalesRevenueNetMember
4hrt_NumberOfCustomersConcentrationOfCreditRisk
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_SalesRevenueNetMember
Sales Revenue, Net [Member] | Customer 1 [Member]    
Concentration Risk [Line Items]    
Concentration of credit risk, percentage 16.00%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_SalesRevenueNetMember
/ us-gaap_MajorCustomersAxis
= hrt_Customer1Member
15.00%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_SalesRevenueNetMember
/ us-gaap_MajorCustomersAxis
= hrt_Customer1Member
Sales Revenue, Net [Member] | Customer 2 [Member]    
Concentration Risk [Line Items]    
Concentration of credit risk, percentage 13.00%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_SalesRevenueNetMember
/ us-gaap_MajorCustomersAxis
= hrt_Customer2Member
13.00%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_SalesRevenueNetMember
/ us-gaap_MajorCustomersAxis
= hrt_Customer2Member
Sales Revenue, Net [Member] | Customer 3 [Member]    
Concentration Risk [Line Items]    
Concentration of credit risk, percentage   12.00%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_SalesRevenueNetMember
/ us-gaap_MajorCustomersAxis
= hrt_Customer3Member
Sales Revenue, Net [Member] | Customer 4 [Member]    
Concentration Risk [Line Items]    
Concentration of credit risk, percentage   10.00%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_SalesRevenueNetMember
/ us-gaap_MajorCustomersAxis
= hrt_Customer4Member
Accounts Receivable [Member]    
Concentration Risk [Line Items]    
Number of customers, concentration of credit risk 5hrt_NumberOfCustomersConcentrationOfCreditRisk
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_AccountsReceivableMember
5hrt_NumberOfCustomersConcentrationOfCreditRisk
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_AccountsReceivableMember
Concentration of credit risk, percentage 51.00%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_AccountsReceivableMember
55.00%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_AccountsReceivableMember
Accounts Receivable [Member] | Customer 1 [Member]    
Concentration Risk [Line Items]    
Concentration of credit risk, percentage 9.00%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_AccountsReceivableMember
/ us-gaap_MajorCustomersAxis
= hrt_Customer1Member
11.00%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_AccountsReceivableMember
/ us-gaap_MajorCustomersAxis
= hrt_Customer1Member
Accounts Receivable [Member] | Two Customers [Member]    
Concentration Risk [Line Items]    
Number of customers, concentration of credit risk 2hrt_NumberOfCustomersConcentrationOfCreditRisk
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_AccountsReceivableMember
/ us-gaap_MajorCustomersAxis
= hrt_TwoCustomersMember
 
Accounts Receivable [Member] | Customer 2 [Member]    
Concentration Risk [Line Items]    
Concentration of credit risk, percentage   9.00%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_AccountsReceivableMember
/ us-gaap_MajorCustomersAxis
= hrt_Customer2Member
Accounts Receivable [Member] | Customer 3 [Member]    
Concentration Risk [Line Items]    
Concentration of credit risk, percentage   15.00%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_AccountsReceivableMember
/ us-gaap_MajorCustomersAxis
= hrt_Customer3Member
Accounts Receivable [Member] | Customer 4 [Member]    
Concentration Risk [Line Items]    
Concentration of credit risk, percentage   14.00%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_AccountsReceivableMember
/ us-gaap_MajorCustomersAxis
= hrt_Customer4Member
Accounts Receivable [Member] | Four Customers [Member]    
Concentration Risk [Line Items]    
Number of customers, concentration of credit risk   4hrt_NumberOfCustomersConcentrationOfCreditRisk
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_AccountsReceivableMember
/ us-gaap_MajorCustomersAxis
= hrt_FourCustomersMember
Patents [Member]    
Concentration Risk [Line Items]    
Impairment of intangibles 103,287us-gaap_ImpairmentOfIntangibleAssetsFinitelived
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= us-gaap_PatentsMember
56,237us-gaap_ImpairmentOfIntangibleAssetsFinitelived
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= us-gaap_PatentsMember
Trade Names [Member]    
Concentration Risk [Line Items]    
Impairment of intangibles $ 15,031us-gaap_ImpairmentOfIntangibleAssetsFinitelived
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= us-gaap_TradeNamesMember
$ 6,850us-gaap_ImpairmentOfIntangibleAssetsFinitelived
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= us-gaap_TradeNamesMember

Accounting Policies (Intangible Assets) (Details)
v5.17.1.24
Accounting Policies (Intangible Assets) (Details) (USD $)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]    
Gross $ 26,626us-gaap_FiniteLivedIntangibleAssetsGross $ 545,133us-gaap_FiniteLivedIntangibleAssetsGross
Accumulated Amortization 7,981us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization 411,111us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization
Net 18,645us-gaap_FiniteLivedIntangibleAssetsNet 134,022us-gaap_FiniteLivedIntangibleAssetsNet
Patents and Trademarks [Member]    
Finite-Lived Intangible Assets [Line Items]    
Estimated Useful Life (in years) 10 years  
Gross 26,290us-gaap_FiniteLivedIntangibleAssetsGross
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= hrt_PatentsAndTrademarksMember
414,436us-gaap_FiniteLivedIntangibleAssetsGross
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= hrt_PatentsAndTrademarksMember
Accumulated Amortization 7,981us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= hrt_PatentsAndTrademarksMember
394,371us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= hrt_PatentsAndTrademarksMember
Net 18,309us-gaap_FiniteLivedIntangibleAssetsNet
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= hrt_PatentsAndTrademarksMember
20,065us-gaap_FiniteLivedIntangibleAssetsNet
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= hrt_PatentsAndTrademarksMember
Patents and Trademarks Pending [Member]    
Finite-Lived Intangible Assets [Line Items]    
Gross 336us-gaap_FiniteLivedIntangibleAssetsGross
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= hrt_PatentsAndTrademarksNotYetInServiceMember
97,447us-gaap_FiniteLivedIntangibleAssetsGross
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= hrt_PatentsAndTrademarksNotYetInServiceMember
Net 336us-gaap_FiniteLivedIntangibleAssetsNet
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= hrt_PatentsAndTrademarksNotYetInServiceMember
97,447us-gaap_FiniteLivedIntangibleAssetsNet
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= hrt_PatentsAndTrademarksNotYetInServiceMember
Trade Names [Member]    
Finite-Lived Intangible Assets [Line Items]    
Gross   33,250us-gaap_FiniteLivedIntangibleAssetsGross
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= us-gaap_TradeNamesMember
Accumulated Amortization   16,740us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= us-gaap_TradeNamesMember
Net   $ 16,510us-gaap_FiniteLivedIntangibleAssetsNet
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= us-gaap_TradeNamesMember

Inventories
v5.17.1.24
Inventories
12 Months Ended
Dec. 31, 2015
Inventories [Abstract]  
Inventories

3.  Inventories

 

Inventories consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

December 31,

 

 

2015

 

2014

Raw materials

 

$

775,427 

 

$

873,306 

Work-in-process

 

 

265,113 

 

 

370,220 

Finished goods

 

 

1,078,172 

 

 

1,270,715 

Total

 

$

2,118,712 

 

$

2,514,241 

 

The total cost of silver in our inventory as raw materials, in work-in-process or as a plated surface on finished goods had an estimated cost of $313,738 and $439,800 in 2015 and 2014, respectively.