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EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2022
Stockholders' Equity Note [Abstract] |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 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, 2022. On March 29, 2021, 99,990 stock options were granted with an exercise price of $6.53 per option and have a five-year term with a two-year vesting period at 50% per annum. The fair value of stock options granted was $4.888 per option on the date of grant using the Black Scholes option-pricing model with the assumptions in the below table. On October 14, 2021, 71,630 shares were granted to directors and officers with an exercise price of $5.90 per option and have a five-year term and are vested at the date of grant. The fair value of stock options granted was $4.14 per option on the date of grant using the Black Scholes option-pricing model with the assumptions in the below table.
Date of Grant |  | Dividend Yield |  |  | Risk-free Interest Rate |  |  | Volatility |  |  | Life
March 21, 2021 |  |  | 0.00 | % |  |  | 0.89 | % |  |  | 101.36 | % |  | 5 years
October 14, 2021 |  |  | 0.00 | % |  |  | 1.05 | % |  |  | 91.51 | % |  | 5 years
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | A summary of the status of the Company’s stock option plans for the fiscal years ended December 31, 2022 and 2021 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, 2021 |  |  | - |  |  | $ | - |  |  |  | - |  |  | $ | -0- |
Options granted |  |  | 171,620 |  |  |  | 6,268 |  |  |  |  |  |  |  |  |
Options canceled/forfeited |  |  | (6,000 | ) |  | $ | 6,530 |  |  |  |  |  |  |  |  |
Outstanding options at December 31, 2021 |  |  | 165,620 |  |  | $ | 6.256 |  |  | 4.48 years |  |  | $ | -0- |
Options granted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Options canceled/forfeited |  |  | (7,200 | ) |  | $ | 6.530 |  |  |  |  |  |  |  |  |
Outstanding options at December 31, 2022 |  |  | 158,420 |  |  | $ | 6.245 |  |  | 3.49 years |  |  | $ | -0- |
Vested Options: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2022: |  |  | 115,025 |  |  | $ | 6.138 |  |  | 3.49 years |  |  | $ | -0- |
December 31, 2021: |  |  | 71,630 |  |  | $ | 5.900 |  |  | 4.79 years |  |  | $ | -0- |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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