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Note 7 - Long-term Debt (Tables) | 12 Months Ended
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Dec. 31, 2020
Notes Tables |
Schedule of Long-term Debt Instruments [Table Text Block] |
Long-term debt as of December 31 consists of the following: |  |  |  |  |  |  |  |
|  | 2020 |  |  | 2019 |
HSBC $10,387,500 Mortgage payable secured by real property Buildings and improvements at 555 N Research Drive, Central Islip, NY payable in monthly principal installments of $62,481 including Interest at a rate of 3.9148% maturing on December 1, 2022. |  | $ | 9,315,246 |  |  | $ | 9,686,211 |
PPP Loan $2,415,970, maturing on April 21, 2022, with interest accruing at 1% per annum |  |  | 2,415,970 |  |  |  | - |
HSBC $6,000,000 Mortgage payable secured by building Buildings and improvements at 355 South Technology Drive, Central Islip, NY payable in monthly principal installments of $25,000 plus interest. Interest presently accrues at our option, at the variable rate of LIBOR plus 1.75% or HSBC's Prime rate minus 0.50% The loan matures on March 1, 2022. |  |  | 2,065,508 |  |  |  | 2,365,508 |
Total long-term debt |  | $ | 13,796,724 |  |  | $ | 12,051,719 |
Less: Current maturities |  |  | (690,667 | ) |  |  | (674,593 | )
Long-term debt |  | $ | 13,106,057 |  |  | $ | 11,377,126 |
Schedule of Maturities of Long-term Debt [Table Text Block] |
2021 |  | $ | 690,667 |
2022 |  |  | 13,106,057 |
Total long-term debt |  | $ | 13,796,724 |

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