XML 32 R21.htm IDEA: XBRL DOCUMENT v3.25.1
Employee Benefit Plan
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Employee Benefit Plan

NOTE 11 – EMPLOYEE BENEFIT PLAN

The Company has a 401(k) retirement plan. Under the terms of the plan, eligible employees may defer up to 20% of their pre-tax earnings, subject to the Internal Revenue Service annual contribution limit. Additionally, the plan allows for discretionary matching contributions by the Company. Typically, the matching contributions are 100% of the employee's contribution up to a maximum of 5% of the employee’s annual compensation. During the years ended December 31, 2024 and 2023, the Company contributed $371,052 and $177,399, respectively to the 401(k) Plan. As of August 2023, the Company temporary suspended contributions to the plan through the end of the year and reinstated contributions beginning in January 2024.

Bressner has an occupational retirement provision for their employees in Germany, which supplements the statutory pension insurance. Currently, this program allows employees to contribute at a maximum 564 Euros per month with the employer match of up to 50% to the employees’ insurance retirement fund. During the years ended December 31, 2024 and 2023, the Company contributed $108,094 and $102,654, respectively.