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Note 13 - Related Party Transactions | 12 Months Ended
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Dec. 31, 2020
Notes to Financial Statements |
Related Party Transactions Disclosure [Text Block] | 13. Related Party Transactions John H. Schwan, Chairman of the Board until June 2020, is the brother of Gary Schwan, one of the owners of Schwan Incorporated, which provides building maintenance services to the Company. The Company made payments to Schwan Incorporated of approximately $13,000 and $16,000 during the years ended December 31, 2020 and 2019, respectively. Ms. Jana M. Schwan is the Company's Chief Operating Officer and daughter of Mr. John H. Schwan. As of January 1, 2019, the Company had a note payable to John H. Schwan, Director and former Chairman of the Board, for $1.6 million, including accrued interest. This loan accrues interest at 6%, is due on demand, and is subordinate to the PNC Agreements. During January 2019, Mr. Schwan converted $600,000 of the note into approximately 181,000 shares of our common stock at the then market rate of $3.32 per share. As a result of the conversion $600,000 the loan balance amounted to $997,019 and Company and Mr. Schwan agreed to increase the interest rate to 6%. The loan and interest payable to Mr. Schwan amounted to $1,058,486 and $1,123,769 as of December 31, 2019 and 2020, respectively. No payments were made to Mr. Schwan during 2019 or 2020, with $65,000 and $61,000, respectively, of interest recorded as an expense during 2020 and 2019. Items identified as Notes Payable Affiliates in the Company's Consolidated Balance Sheet as of December 31, 2020 and 2019 include loans by shareholders to Flexo Universal totaling $nil and $14,000, respectively. On July 1, 2019, the Company deconsolidated Clever, and as result the Company has a note receivable of $1.3 million. One of owners of Clever is John Schwan. The Company has recorded a $1,277,000 reserve of the receivable during fiscal year 2020.

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