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Unaudited Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($)
Common Shares
Treasury Shares
Additional paid-in Capital
Accumulated Other Comprehensive Income
Accumulated Deficit
Total
Balance at beginning of period at Dec. 31, 2022 $ 123,904,965   $ 9,856,229 $ 9,774,551 $ (39,290,540) $ 104,245,205
Balance (in shares) at Dec. 31, 2022 23,117,144          
Increase (Decrease) in Stockholders' Equity            
Net income         3,529,827 3,529,827
Dividends paid         (1,412,455) (1,412,455)
Stock-based compensation expense     179,748     179,748
Buyback of common shares   $ (1,367,425)       (1,367,425)
Buyback of common shares (in shares)   (237,920)        
Retirement of treasury shares $ (1,115,306) $ 1,115,306        
Retirement of treasury shares (in shares) (190,700) 190,700        
Other comprehensive income (loss)       (2,600)   (2,600)
Balance at end of period at Mar. 31, 2023 $ 122,789,659 $ (252,119) 10,035,977 9,771,951 (37,173,168) 105,172,300
Balance (in shares) at Mar. 31, 2023 22,926,444 (47,220)        
Balance at beginning of period at Dec. 31, 2022 $ 123,904,965   9,856,229 9,774,551 (39,290,540) 104,245,205
Balance (in shares) at Dec. 31, 2022 23,117,144          
Balance at end of period at Dec. 31, 2023 $ 118,272,565 $ (360,326) 10,874,491 9,772,277 (37,946,042) 100,612,965
Balance (in shares) at Dec. 31, 2023 22,222,722 (70,874)        
Balance at beginning of period at Mar. 31, 2023 $ 122,789,659 $ (252,119) 10,035,977 9,771,951 (37,173,168) 105,172,300
Balance (in shares) at Mar. 31, 2023 22,926,444 (47,220)        
Increase (Decrease) in Stockholders' Equity            
Net income         430,589 430,589
Dividends paid         (1,416,147) (1,416,147)
Stock-based compensation expense     179,748     179,748
Buyback of common shares   $ (1,687,350)       (1,687,350)
Buyback of common shares (in shares)   (325,055)        
Retirement of treasury shares $ (1,441,655) $ 1,441,655        
Retirement of treasury shares (in shares) (277,154) 277,154        
Other comprehensive income (loss)       (45,877)   (45,877)
Balance at end of period at Jun. 30, 2023 $ 121,348,004 $ (497,814) 10,215,725 9,726,074 (38,158,726) 102,633,263
Balance (in shares) at Jun. 30, 2023 22,649,290 (95,121)        
Balance at beginning of period at Dec. 31, 2023 $ 118,272,565 $ (360,326) 10,874,491 9,772,277 (37,946,042) 100,612,965
Balance (in shares) at Dec. 31, 2023 22,222,722 (70,874)        
Increase (Decrease) in Stockholders' Equity            
Net income         1,506,896 1,506,896
Dividends paid         (1,370,409) (1,370,409)
Stock-based compensation expense     321,569     321,569
Buyback of common shares   $ (1,203,708)       (1,203,708)
Buyback of common shares (in shares)   (248,700)        
Retirement of treasury shares $ (1,564,034) $ 1,564,034        
Retirement of treasury shares (in shares) (319,574) 319,574        
Vesting of shares of restricted stock 10,054          
Other comprehensive income (loss)       (4,245)   (4,245)
Balance at end of period at Mar. 31, 2024 $ 116,708,531   11,196,060 9,768,032 (37,809,555) 99,863,068
Balance (in shares) at Mar. 31, 2024 21,913,202          
Balance at beginning of period at Dec. 31, 2023 $ 118,272,565 $ (360,326) 10,874,491 9,772,277 (37,946,042) 100,612,965
Balance (in shares) at Dec. 31, 2023 22,222,722 (70,874)        
Balance at end of period at Jun. 30, 2024 $ 116,708,531   11,509,649 9,793,272 (38,365,835) 99,645,617
Balance (in shares) at Jun. 30, 2024 21,921,850          
Balance at beginning of period at Mar. 31, 2024 $ 116,708,531   11,196,060 9,768,032 (37,809,555) 99,863,068
Balance (in shares) at Mar. 31, 2024 21,913,202          
Increase (Decrease) in Stockholders' Equity            
Net income         815,660 815,660
Dividends paid         (1,371,940) (1,371,940)
Stock-based compensation expense     313,589     313,589
Vesting of shares of restricted stock 8,648          
Other comprehensive income (loss)       25,240   25,240
Balance at end of period at Jun. 30, 2024 $ 116,708,531   $ 11,509,649 $ 9,793,272 $ (38,365,835) $ 99,645,617
Balance (in shares) at Jun. 30, 2024 21,921,850