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Simple IRA Plan
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Simple IRA Plan

 

7. Simple IRA Plan

 

On October 26, 2000, the Board of Directors approved a Simple IRA Plan (the “IRA Plan”) to attract and retain valuable executives. The IRA Plan allows for participation by up to 100 eligible employees of the Company. Under the IRA Plan, eligible employees may contribute a portion of their pre-tax yearly salary, up to the maximum contribution limit for Simple IRA Plans as set forth under the Internal Revenue Code of 1986, as amended, with the Company matching on a dollar-for-dollar basis up to 3% of the employees’ annual pre-tax compensation. Contribution limits and other plan parameters are subject to change in accordance with applicable law and plan administration. For the years ended December 31, 2025 and 2024, the Company made matching contributions of $22,716 and $21,255, respectively, to the IRA Plan.