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Note 13 - Subsequent Event
3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Subsequent Events [Text Block]
NOTE
13.
SUBSEQUENT EVENTS
 
ESOUSA Agreement
 
On
April 23, 2020,
the Company entered into an amendment (the “Amendment”) to the ESOUSA Agreement with ESOUSA Holdings, LLC, a related party. The Amendment increased from
$2,000,000
to
$5,000,000
the principal amount and unpaid interest of
one
or more promissory notes of the Company or its direct or indirect subsidiaries that ESOUSA either purchased in whole or has an irrevocable right to purchase in tranches from RBL Capital Group, LLC in connection with the ESOUSA Agreement. The Company has the right, pursuant to the ESOUSA Agreement (as amended by the Amendment), to request ESOUSA to exchange in tranches such promissory notes for shares of the Company’s common stock on the terms and conditions and subject to the limitations set forth in the ESOUSA Agreement.
 
Paycheck Protection Program Loan
 
On
May 7, 2020,
the Company entered into a promissory note (the “Note”) evidencing an unsecured loan (the “Loan”) in the amount of
$491,492
made to the Company under the Paycheck Protection Program (the “PPP”). The Note matures on
May 7, 2022
and bears interest at a rate of
1%
per annum. Beginning
December 7, 2020,
the Company is required to make
17
monthly payments of principal and interest, with the principal component of each such payment based upon the level amortization of principal over a
two
-year period from
May 7, 2020. 
Pursuant to the terms of the CARES Act and the PPP, the Company
may
apply to the Lender for forgiveness for the amount due on the Loan. The amount eligible for forgiveness is based on the amount of Loan proceeds used by the Company (during the
eight
-week period after the Lender makes the
first
disbursement of Loan proceeds) for the payment of certain covered costs, including payroll costs (including benefits), interest on mortgage obligations, rent and utilities, subject to certain limitations and reductions in accordance with the CARES Act and the PPP.
No
assurance can be given, at this time, that the Company will obtain forgiveness of the Loan in whole or in part.