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Note 9 - Income Taxes
3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
9.
Income Taxes
 
The Company accounts for income taxes under ASC Topic
740
– Income Taxes. Under this standard, deferred tax assets and liabilities are recognized for future tax benefits or consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled
 
We have recorded a full valuation allowance against our deferred tax assets. As we continue to have multiple quarters of positive net income, we will assess our valuation allowance. Based on all available evidence, we determined that we have
not
yet attained a sustained level of profitability. Therefore, we have maintained the full valuation allowance as of
March 31, 2020.
We
may
release all, or a portion, of the valuation allowance in the near-term, dependent on the verifiable positive evidence observed in future quarters.
 
On
March 27, 2020,
President Trump signed the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") into law. The Company has reviewed the aspects of this law as it relates to income taxes and have concluded that at this time, the CARES Act will have
no
material impact to the Company’s
2020
provision for income taxes. The Company will continue to evaluate the impact of the CARES Act on its financial position, results of operations and cash flows.