XML 30 R19.htm IDEA: XBRL DOCUMENT v3.23.1
Note 13 - Defined Contribution Plan
 12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Retirement Benefits [Text Block]

Note 13 – Defined Contribution Plan

 

The Company maintains a 401(k) Plan for the benefit of all eligible employees. All employees as of the effective date of the 401(k) Plan became eligible. An employee is eligible to become a participant after three months of continuous service.

 

Participants may elect to contribute from their compensation any amount up to the maximum deferral allowed by the Internal Revenue Code. Employer contributions are optional.

 

Effective July 1, 2022, the Company implemented a matching contribution of 50% of an employee’s contributions up to 6% of their compensation. The Company recorded compensation expense of $89,622 during the year ended December 31, 2022 for matching contributions to the 401(k) plan.

 

No discretionary employer contribution has been made for 2022 and 2021.