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EQUITY | 12 Months Ended
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Dec. 31, 2020
Stockholders' Equity Note [Abstract] |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 9 – EQUITY On September 6, 2019, the Company filed a Certificate of Elimination of Certificate of Designations (the “Certificate of Elimination”) with the Secretary of State of the State of Delaware. The Certificate of Withdrawal eliminated the Company’s Series B Preferred Stock, par value $.001 per share (the “Series B Preferred”), from the Company’s Certificate of Incorporation. Prior to filing the Certificate of Elimination, Mark Meller, the Company’s Chief Executive Officer and Chairman and owner of the only share of Series B Preferred, cancelled the only share of Series B Preferred issued and outstanding. On October 10, 2019, the Company’s Board of Directors authorized a new stock repurchase program, under which the Company may repurchase up to $2 million of its outstanding common stock. Under this new stock repurchase program, the Company may repurchase shares in accordance with all applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, regulatory requirements and other corporate considerations, as determined by the Company’s management. The repurchase program may be extended, suspended or discontinued at any time. The Company expects to finance the program from existing cash resources. As of December 31, 2020, no repurchases have been made. On December 24, 2019, the Company announced the payment of a $0.50 special cash dividend per share of Common Stock payable on January 14, 2020 for an aggregate amount of $2,250,636, which was applied against paid in capital. On December 10, 2020, the Company announced the payment of a $0.40 special cash dividend per share of Common Stock payable on December 28, 2020 for an aggregate amount of $1,800,509 which was applied against paid in capital. Stock Options The fair value of each option awarded is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. Expected volatilities are based on historical volatility of Common Stock. The expected life of the options granted represents the period from date of grant to expiration (5 years). The risk-free interest rate is based on the U.S. Treasury yield in effect at the time of grant. There were no stock options granted for the year ended December 31, 2020. As of December 31, 2020, the Company has no outstanding stock options. A summary of the status of the Company’s stock option plans for the fiscal years ended December 31, 2020 and 2019 and changes during the years are presented below (in number of options):
|  | Number of Options |  |  | Average Exercise Price |  | Average Remaining Contractual Term |  | Aggregate Intrinsic Value |
Outstanding options at January 1, 2019 |  |  | 56,280 |  |  | $ | 3.75 |  | 1.0 years |  | $ | -0- |
Options granted |  |  | - |  |  |  | - |  |  |  |  |  |
Options canceled/forfeited |  |  | (30,000 | ) |  | $ | 3.78 |  |  |  |  |  |
Outstanding options at December 31, 2019 |  |  | 26,280 |  |  | $ | 3.71 |  | 0.7 years |  | $ | -0- |
Options granted |  |  | - |  |  | $ | - |  |  |  |  |  |
Options canceled/forfeited |  |  | (26,280 | ) |  | $ | 3.71 |  |  |  |  |  |
Outstanding options at December 31, 2020 |  |  | - |  |  | $ | - |  | - |  | $ | -0- |
Vested Options: |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2020: |  |  | - |  |  | $ | - |  | - |  | $ | -0- |
December 31, 2019: |  |  | 21,960 |  |  | $ | 3.72 |  | 0.6 years |  | $ | -0- |
Total stock compensation recognized for the year ended December 31, 2020 and 2019 was $10,194 and $16,910, respectively As of December 31, 2020, the unamortized compensation expense for stock options was $0. Warrants The following table summarizes the warrants transactions:
|  | Warrants Outstanding |  |  | Weighted Average Exercise Price |  | Average Remaining Contractual Term
Balance, January 1, 2019 |  |  | 208,241 |  |  | $ | 5.26 |  | 2.3 years
Granted |  |  | - |  |  | $ | - |  |
Exercised |  |  | 16,698 |  |  | $ | 5.09 |  |
Canceled |  |  | - |  |  | $ | - |  |
Outstanding and Exercisable December 31, 2019 |  |  | 191,543 |  |  | $ | 5.28 |  | .3 years
Granted |  |  | - |  |  | $ | - |  |
Exercised |  |  | - |  |  | $ | - |  |
Canceled |  |  | 186,555 |  |  | $ | 5.31 |  |
Outstanding and Exercisable December 31, 2020 |  |  | 4,988 |  |  | $ | 4.01 |  | 1.24 years

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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