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Note 12 - Subsequent Event
9 Months Ended
Sep. 30, 2019
Notes to Financial Statements  
Subsequent Events [Text Block]
NOTE
12:
SUBSEQUENT EVENT
 
As discussed in Note
7,
the Company’s wholly owned subsidiary
555
N Research Corporation, had entered into a sub-lease agreement with ELM Freight Handlers Inc. (“Tenant”), dated as of
May 31, 2019 (
the “Lease”), concerning the east side of its facility located at
555
North Research Place, Central Islip, NY (the “Facility”). The Lease was for a
one
-year term ending on
June 30, 2020,
and provided for an initial base monthly rent of
$31,667
per month (
$380,000
per annum).
 
On
October 30, 2019,
the Tenant exercised its option to terminate the Lease, which termination will be effective as of
December 31, 2019 (
the “Termination”).
 
The sub-lease agreement by and between
555
N Research Corporation and the Tenant concerning the west side of the Facility, dated as of
May 31, 2019,
the terms of which are discussed in Note
7,
will remain in full force and effect and will
not
be affected by the Termination.