United-Guardian (UG) 10-Q 12 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 01, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-10526
Entity Registrant Name	UNITED-GUARDIAN, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	11-1719724
Entity Address, Address Line One	230 Marcus Boulevard
Entity Address, City or Town	Hauppauge
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11788
City Area Code	631
Local Phone Number	273-0900
Title of 12(b) Security	Common Stock, $0.10 par value per share
Trading Symbol	UG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		4,594,319
Entity Central Index Key	0000101295
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Statements of Income (Unaudited

Statements of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net sales	$ 3,390,205	$ 2,650,299	$ 6,645,149	$ 5,220,623
Costs and expenses:
Cost of sales	1,561,090	1,429,407	3,117,580	2,523,002
Operating expenses	602,777	574,093	1,171,642	1,092,039
Research and development	111,660	128,729	214,642	255,688
Total costs and expenses	2,275,527	2,132,229	4,503,864	3,870,729
Income from operations	1,114,678	518,070	2,141,285	1,349,894
Other income (expense):
Investment income	100,007	54,950	198,080	102,582
Net gain on marketable securities	(9,501)	7,479	31,995	80,180
Total other income	90,506	62,429	230,075	182,762
Income before provision for income taxes	1,205,184	580,499	2,371,360	1,532,656
Provision for income taxes	248,959	119,405	489,693	315,481
Net income	$ 956,225	$ 461,094	$ 1,881,667	$ 1,217,175
Earnings per common share
(Basic and Diluted) (in dollars per share)	$ 0.21	$ 0.1	$ 0.41	$ 0.26
Weighted average shares – basic and diluted (in shares)	4,594,319	4,594,319	4,594,319	4,594,319

Balance Sheets (Current Period

Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 8,405,371	$ 8,243,122
Marketable securities	1,453,542	851,318
Accounts receivable, net of allowance for credit losses of $24,321 at March 31, 2024 and $16,672 at December 31, 2023	1,676,957	1,566,839
Inventories (net)	1,172,087	1,223,506
Prepaid expenses and other current assets	220,750	191,708
Prepaid income taxes	213,801	176,220
Total current assets	13,142,508	12,252,713
Deferred income taxes	33,502	50,930
Net property, plant, and equipment:
Land	69,000	69,000
Factory equipment and fixtures	4,698,305	4,669,936
Building and improvements	3,035,512	2,976,577
Total property, plant, and equipment	7,802,817	7,715,513
Less: Accumulated depreciation	7,144,149	7,096,318
Total property, plant, and equipment (net)	658,668	619,195
TOTAL ASSETS	13,834,678	12,922,838
Current liabilities:
Accounts payable	336,879	134,449
Accrued expenses	1,354,753	1,363,044
Deferred revenue	0	15,498
Dividends payable	21,377	21,265
Total current liabilities	1,713,009	1,534,256
Total liabilities	1,713,009	1,534,256
Commitments and Contingencies
Stockholders’ equity:
Common stock $.10 par value; 10,000,000 shares authorized; 4,594,319 shares issued and outstanding at March 31, 2024 and December 31, 2023	459,432	459,432
Retained earnings	11,662,237	10,929,150
Total stockholders’ equity	12,121,669	11,388,582
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 13,834,678	$ 12,922,838

Balance Sheets (Current Perio_2

Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 20,241	$ 16,672
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.1	$ 0.1
Common Stock, Shares Authorized (in shares)	10,000,000	10,000,000
Common Stock, Shares, Issued (in shares)	4,594,319	4,594,319
Common Stock, Shares, Outstanding (in shares)	4,594,319	4,594,319

Statements of Changes in Stockh

Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Common Stock, Amount [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2022	4,594,319
Balance at Dec. 31, 2022		$ 459,432	$ 8,807,212	$ 9,266,644
Net income			756,081	756,081
Balance (in shares) at Mar. 31, 2023	4,594,319
Balance at Mar. 31, 2023		459,432	9,563,293	10,022,725
Balance (in shares) at Dec. 31, 2022	4,594,319
Balance at Dec. 31, 2022		459,432	8,807,212	9,266,644
Net income				1,217,175
Balance (in shares) at Jun. 30, 2023	4,594,319
Balance at Jun. 30, 2023		459,432	10,024,387	10,483,819
Balance (in shares) at Mar. 31, 2023	4,594,319
Balance at Mar. 31, 2023		459,432	9,563,293	10,022,725
Net income			461,094	461,094
Balance (in shares) at Jun. 30, 2023	4,594,319
Balance at Jun. 30, 2023		459,432	10,024,387	10,483,819
Dividends				0
Balance (in shares) at Dec. 31, 2023	4,594,319
Balance at Dec. 31, 2023		459,432	10,929,150	11,388,582
Net income			925,442	925,442
Dividends		0	(1,148,468)	(1,148,468)
Balance (in shares) at Mar. 31, 2024	4,594,319
Balance at Mar. 31, 2024		459,432	10,706,012	11,165,444
Balance (in shares) at Dec. 31, 2023	4,594,319
Balance at Dec. 31, 2023		459,432	10,929,150	11,388,582
Net income				1,881,667
Balance (in shares) at Jun. 30, 2024	4,594,319
Balance at Jun. 30, 2024		459,432	11,662,237	12,121,669
Dividends	$ 0	0	(112)	(112)
Balance (in shares) at Mar. 31, 2024	4,594,319
Balance at Mar. 31, 2024		459,432	10,706,012	11,165,444
Net income			956,225	956,225
Balance (in shares) at Jun. 30, 2024	4,594,319
Balance at Jun. 30, 2024		$ 459,432	$ 11,662,237	12,121,669
Dividends				$ (112)

Statements of Changes in Stoc_2

Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals)	6 Months Ended
	Jun. 30, 2024 $ / shares
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share)	$ 0.25

Statements of Changes in Stoc_3

Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Common Stock, Amount [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2022	4,594,319
Balance at Dec. 31, 2022		$ 459,432	$ 8,807,212	$ 9,266,644
Net income			756,081	756,081
Balance (in shares) at Mar. 31, 2023	4,594,319
Balance at Mar. 31, 2023		459,432	9,563,293	10,022,725
Balance (in shares) at Dec. 31, 2022	4,594,319
Balance at Dec. 31, 2022		459,432	8,807,212	9,266,644
Net income				1,217,175
Balance (in shares) at Jun. 30, 2023	4,594,319
Balance at Jun. 30, 2023		459,432	10,024,387	10,483,819
Balance (in shares) at Mar. 31, 2023	4,594,319
Balance at Mar. 31, 2023		459,432	9,563,293	10,022,725
Net income			461,094	461,094
Balance (in shares) at Jun. 30, 2023	4,594,319
Balance at Jun. 30, 2023		459,432	10,024,387	10,483,819
Balance (in shares) at Dec. 31, 2023	4,594,319
Balance at Dec. 31, 2023		459,432	10,929,150	11,388,582
Net income			925,442	925,442
Balance (in shares) at Mar. 31, 2024	4,594,319
Balance at Mar. 31, 2024		459,432	10,706,012	11,165,444
Balance (in shares) at Dec. 31, 2023	4,594,319
Balance at Dec. 31, 2023		459,432	10,929,150	11,388,582
Net income				1,881,667
Balance (in shares) at Jun. 30, 2024	4,594,319
Balance at Jun. 30, 2024		459,432	11,662,237	12,121,669
Balance (in shares) at Mar. 31, 2024	4,594,319
Balance at Mar. 31, 2024		459,432	10,706,012	11,165,444
Net income			956,225	956,225
Balance (in shares) at Jun. 30, 2024	4,594,319
Balance at Jun. 30, 2024		$ 459,432	$ 11,662,237	$ 12,121,669

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 1,881,667	$ 1,217,175
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	47,831	48,911
Net gain on marketable securities	(31,995)	(80,180)
Gain on sale of equipment	0	(10,000)
Allowance for (recovery of) credit losses	3,569	14,760
Change in allowance for obsolete inventory	(22,000)	8,000
Deferred income taxes	17,428	150,453
(Increase) decrease in operating assets:
Accounts receivable	(113,687)	(127,405)
Inventories	73,419	(115,014)
Prepaid expenses and other current assets	(29,042)	(23,713)
Prepaid income taxes	(37,581)	(210,758)
Increase (decrease) in operating liabilities:
Accounts payable	202,430	125,427
Accrued expenses and other current liabilities	(8,291)	(145,409)
Deferred revenue	(15,498)	0
Net cash provided by operating activities	1,968,250	852,247
us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract
Acquisition of property, plant, and equipment	(87,304)	(3,912)
Proceeds from sale of equipment	0	10,000
Proceeds from sale of marketable securities	775,000	5,255,145
Purchase of marketable securities	(1,345,229)	(461,025)
Net cash used in investing activities	(657,533)	4,800,208
Net cash (used in) provided by investing activities
Dividends paid	(1,148,468)	0
Net cash used in financing activities	(1,148,468)	0
Net (decrease) increase in cash and cash equivalents	162,249	5,652,455
Cash and cash equivalents at beginning of period	8,243,122	830,452
Cash and cash equivalents at end of period	8,405,371	6,482,907
Supplemental disclosure of cash flow information:
Taxes paid	575,795	375,000
Supplemental disclosure of non-cash items:
Dividends payable	$ 112	$ 0

Note 1 - Nature of Business

Note 1 - Nature of Business	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	1. Nature of Business United-Guardian, Inc. (“Registrant” or “Company”) is a Delaware corporation that, through its Guardian Laboratories division, manufactures and markets cosmetic ingredients, pharmaceutical products, medical lubricants, and sexual wellness ingredients. Prior to July 1, 2023, the Company manufactured and reported sales of a line of specialty industrial products; however, this product line was discontinued after the second quarter of 2023 due to low sales volume with no growth prospects. The Company conducts research and product development leading to commercialization of new premium ingredients for cosmetics and healthcare products. The Company’s research and development department also modifies, refines, and expands the uses for existing products, with the goal of further developing the market for its products. The Company is developing new products using natural and environmentally friendly raw materials, which is a priority for many of the Company’s cosmetic customers.

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Basis of Accounting [Text Block]	2. Basis of Presentation Interim condensed financial statements of the Company are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) for interim financial information, pursuant to the requirements for reporting on Form 10-Q and Regulation S-X. In the opinion of management, all adjustments considered necessary for the fair presentation of financial statements for the interim periods have been included. The results of operations for the three and six months ended June 30, 2024 (also referred to as the "second quarter of 2024" and the "first half of 2024", respectively) are not necessarily indicative of results that ultimately may be achieved for any other interim period or for the year ending December 31, 2024. The interim unaudited condensed financial statements and notes thereto should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

Note 3 - Impact of Global Suppl

Note 3 - Impact of Global Supply Chain Instability and Inflation	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Impact of Coronavirus (COVID-19) [Text Block]	3. Impact of Global Supply Chain Instability and Inflation The continued supply chain instability, primarily caused by military conflicts in the Middle East, has impacted vessels’ access to the Red Sea and Suez Canal. The Company is working closely with its suppliers regarding lead times and continues to closely monitor this situation. Although the Company has not experienced any delays in receiving raw materials or a substantial increase in shipping costs, we are aware that the situation is fluid and could impact the Company at any time. If that occurs, we may experience longer lead times and increased shipping costs for some of the Company’s raw materials, which may impact the Company’s future gross margins. As a result of this global supply chain instability and higher interest rates, there continues to be uncertainty regarding the potential impact on the Company’s operations and financial results and we are unable to provide an accurate estimate or projection as to what the future impact will be.

Note 4 - Use of Estimates

Note 4 - Use of Estimates	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Use of Estimates Disclosure [Text Block]	4. Use of Estimates In preparing financial statements in conformity with Generally Accepted Accounting Principles in the United States of America (“US GAAP”), management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenue and expenses during the reporting period. Actual results could differ from those estimates. Such estimated items include the allowance for credit losses, reserve for inventory obsolescence, accrued distribution fees, outdated material returns, possible impairment of marketable securities and the allocation of overhead.

Note 5 - Cash and Cash Equivale

Note 5 - Cash and Cash Equivalents	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	5. Cash and Cash Equivalents For financial statement purposes, the Company considers as cash equivalents all highly liquid investments with an original maturity of three months or less at the time of purchase. The Company deposits cash and cash equivalents with financially strong, FDIC-insured financial institutions, and believes that any amounts above FDIC insurance limitations are at minimal risk. The amounts held in excess of FDIC limits at any point in time are considered temporary and are primarily due to the timing of the maturities of United States Treasury Bills. Cash and cash equivalents held in these accounts are currently insured by the Federal Deposit Insurance Corporation (“FDIC”) up to a maximum of $250,000. At June 30, 2024 and December 31, 2023, $506,000 and $315,000, respectively, exceeded the FDIC limit. Cash and cash equivalents include currency on hand, demand deposits with banks or financial institutions, and short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. The following table summarizes the Company's cash and cash equivalents: June 30, December 31, 2024 2023 Demand Deposits $ 1,181,655 $ 340,034 Certificates of Deposit (original maturities of < 3 months) - 125,000 Money Market Funds 178,770 1,031,361 U.S. Treasury Bills (original 3-month maturity) 7,044,946 6,746,727 Total Cash and Cash Equivalents $ 8,405,371 $ 8,243,122

Note 6 - Accounts Receivable an

Note 6 - Accounts Receivable and Reserves	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Accounts and Nontrade Receivable [Text Block]	6. Accounts Receivable and Reserves As of January 1, 2023, the Company adopted FASB Accounting Standards Update (“ASU”) No. 2016-13 , Measurement of Credit Losses on Financial Instruments The carrying amount of accounts receivable is reduced by an allowance for credit losses that reflects the Company’s best estimate of the amounts that will not be collected as of the balance sheet date. This allowance is based on the credit losses expected to arise over the life of the asset and is based on the Current Expected Credit Losses (“CECL”). At June 30, 2024, and December 31, 2023, the allowance for credit losses related to accounts receivable amounted to $20,241 and $16,672, respectively.

Note 7 - Revenue Recognition

Note 7 - Revenue Recognition	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	7. Revenue Recognition The Company records revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers As long as a valid purchase order has been received and future collection of the sale amount is reasonably assured, the Company recognizes revenue from sales of its products when those products are shipped, which is when the Company’s performance obligation is satisfied. The Company’s cosmetic ingredients are shipped “Ex-Works” from the Company’s facility in Hauppauge, NY, and the risk of loss and responsibility for the shipment passes to the customer upon shipment. Sales of the Company’s non-pharmaceutical medical products are deemed final upon shipment, and there is no obligation on the part of the Company to repurchase or allow the return of these goods unless they are defective. Sales of the Company’s pharmaceutical products are final upon shipment unless (a) they are found to be defective; (b) the product is damaged in shipping; (c) the product cannot be sold because it is too close to its expiration date; or (d) the product has expired (but it is not more than one year after the expiration date). This return policy conforms to standard pharmaceutical industry practice. The Company estimates an allowance for outdated material returns based on previous years’ historical returns of its pharmaceutical products. The Company’s sales, as reported, are subject to a variety of deductions, some of which are estimated. These deductions are recorded in the same period that the revenues are recognized. Such deductions, primarily related to sales of the Company’s pharmaceutical products, include chargebacks from the United States Department of Veterans Affairs (“VA”), rebates in connection with the Company’s participation in Medicare programs, distribution fees, discounts, and outdated product returns. These deductions represent estimates of the related obligations and, as such, knowledge and judgment are required when estimating the impact of these revenue deductions on sales for a reporting period. During 2024 and 2023, the Company participated in various government drug rebate programs related to the sale of Renacidin®, its most important pharmaceutical product. These programs include the Veterans Affairs Federal Supply Schedule (FSS), and the Medicare Part D Coverage Gap Discount Program (CGDP). These programs require the Company to sell its product at a discounted price. The Company’s sales, as reported, are net of these product rebates and discounts, some of which are estimated and are recorded in the same period that the revenue is recognized. In August of 2022, the Inflation Reduction Act (“IRA”) was signed into law. The IRA made significant changes to the current Medicare Part D benefit design as it relates to discounts available to enrollees from pharmaceutical manufacturers of brand name drugs. Beginning on January 1, 2025, the Centers for Medicare & Medicaid Services (“CMS”) will implement a new Medicare Part D Manufacturer Discount Program (“discount program”), which will replace the current CGDP. The new discount program eliminates the coverage gap benefit phase, introduces pharmaceutical manufacturer discounts in the initial and catastrophic coverage phases and lowers the cap on enrollee out-of-pocket costs. Under the new discount program, additional rebates are expected to be owed by pharmaceutical manufacturers due to the restructuring of the benefit periods. The overall financial impact of this new program will vary depending on the products being reimbursed but does have the potential to increase Medicare Part D rebates for drug manufacturers. At this time, the Company is unable to predict what future impact this new program will have on its financial condition; however, on January 31, 2024, the Company was notified by CMS that it qualified as a “specified small manufacturer” and will be entitled to a multi-year phase-in period during which it will pay a lower percentage discount on drugs dispensed to beneficiaries. The Company does not make sales on consignment, and the collection of the proceeds of the sale of any of the Company’s products is not contingent upon the customer being able to sell the goods to a third party. Any allowances for returns are taken as a reduction of sales within the same period the revenue is recognized. Such allowances are determined based on historical experience under ASC Topic 606. At June 30, 2024 and December 31, 2023, the Company had an allowance of $268,242 and $247,847, respectively, for possible outdated material returns, which is included in accrued expenses. There is no asset value associated with these outdated material returns, as these products are destroyed. As of December 31, 2023, the Company recorded advance payments from customers of $15,498, which were included in deferred revenue on the balance sheet. The related performance obligations associated with these payments were satisfied in the first quarter of 2024. There were no The Company has distribution fee contracts with certain distributors of its pharmaceutical products that entitle them to distribution and service-related fees. The Company records distribution fees and estimates of distribution fees as offsets to revenue. Disaggregated sales by product class are as follows: Three months ended Six months ended June 30, June 30, 2024 2023 2024 2023 Cosmetic ingredients $ 1,419,374 $ 772,887 $ 3,295,856 $ 1,534,788 Pharmaceuticals 1,413,664 1,376,601 2,363,987 2,730,825 Medical lubricants 557,167 482,512 985,306 903,543 Industrial products (1) - 18,299 - 51,467 Total Net Sales $ 3,390,205 $ 2,650,299 $ 6,645,149 $ 5,220,623 (1) This product line was discontinued as of July 1, 2023. The Company’s cosmetic ingredients are marketed worldwide by five distributors, of which U.S.-based Ashland Specialty Ingredients (“ASI”) purchases the largest volume. Approximately 17% of the Company’s total sales in the second quarter of 2024 were to customers located outside of the United States, compared with approximately 22% in the second quarter of 2023. For the six months ended June 30, 2024, approximately 15% of the Company’s total sales were to customers located outside of the United States, compared with approximately 23% for the six months ended June 30, 2023. Disaggregated sales by geographic region are as follows: Three months ended Six months ended June 30, June 30, 2024 2023 2024 2023 United States* $ 2,808,237 $ 2,067,533 $ 5,627,173 $ 4,009,775 Other countries 581,968 582,766 1,017,976 1,210,848 Total Sales $ 3,390,205 $ 2,650,299 $ 6,645,149 $ 5,220,623 * For the six months ended June 30, 2024 approximately 84% of ASI’s sales of the Company’s products were to customers in other countries, with China accounting for approximately 50% of ASI’s sales of the Company’s products, as compared with approximately 68% of ASI’s sales going to customers in other countries for the six months ended June 30, 2023, with China accounting for approximately 29% of ASI’s sales of the Company’s products during that period.

Note 8 - Accounting for Financi

Note 8 - Accounting for Financial Instruments - Credit Losses	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Credit Loss, Financial Instrument [Text Block]	8. Accounting for Financial Instruments – Credit Losses The Company recognizes an allowance for credit losses for its trade receivables to present the net amount expected to be collected as of the balance sheet date. This allowance is based on the credit losses expected to arise over the life of the asset and are based on Current Expected Credit Losses (CECL). The timing between recognition of revenue for product sales and the receipt of payment is not significant. The Company’s standard credit terms, which vary depending on the customer, range between 30 and 60 days. The Company provides allowances for any receivables for which collection is doubtful in accordance with ASU 2016-13. As of June 30, 2024 and December 31, 2023, the allowance for credit losses on accounts receivable was $20,241 and $16,672, respectively. Prompt-pay discounts are offered to some customers; however, due to the uncertainty of the customers taking the discounts, the discounts are recorded only after they have been taken.

Note 9 - Marketable Securities

Note 9 - Marketable Securities	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	9. Marketable Securities The Company’s marketable securities include investments in equity mutual funds and Certificates of Deposit with maturities longer than three months. The Company’s marketable equity securities are reported at fair value with the related unrealized and realized gains and losses included in net income. Certificates of Deposit are recorded at amortized cost. Realized gains or losses on mutual funds are determined on a specific identification basis. The Company evaluates its investments periodically for possible other-than-temporary impairment by reviewing factors such as the length of time and extent to which fair value had been below cost basis, the financial condition of the issuer and the Company’s ability and intent to hold the investment for a period of time which may be sufficient for anticipated recovery of market value. The disaggregated net gains and losses on marketable securities that were recognized on the income statements for the three and six months ended June 30, 2024 and June 30, 2023 were as follows: THREE MONTHS SIX MONTHS ENDED 2024 2023 2024 2023 Net (losses) gains recognized during the period on marketable securities $ (9,501 ) $ 7,479 $ 31,995 $ 80,180 Less: Net losses recognized on marketable securities sold during the period - (433,769 ) - (433,769 ) Unrealized (losses) gains recognized during the reporting period on marketable securities still held at the reporting date $ (9,501 ) $ 441,248 $ 31,995 $ 513,949 The fair values of the Company’s marketable securities are determined in accordance with US GAAP, with fair value being defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company utilizes the three-tier value hierarchy, as prescribed by US GAAP, which prioritizes the inputs used in measuring fair value as follows: • Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement. The Company’s marketable equity securities, which are considered available for sale securities, are re-measured to fair value on a recurring basis and are valued using Level 1 inputs using quoted prices (unadjusted) for identical assets in active markets. The Company’s fixed income Certificates of Deposit are considered held-to-maturity securities and are valued at amortized cost. The following tables summarize the Company’s investments: June 30, 2024 Unrealized Cost Fair value gain Equity and other mutual funds $ 583,103 $ 617,086 $ 33,983 Other short-term investments: Fixed income Certificates of Deposit (original maturities >3 months) 836,456 836,456 - Total marketable securities $ 1,419,559 $ 1,453,542 $ 33,983 December 31, 2023 Unrealized Cost Fair Value gain Equity Securities Equity and other mutual funds $ 574,330 $ 576,318 $ 1,988 Other short-term investments: Fixed income Certificates of Deposit (original maturities >3 months) 275,000 275,000 - Total marketable securities $ 849,330 $ 851,318 $ 1,988 Investment income is recognized when earned and consists principally of dividend income from equity mutual funds and interest income from United States Treasury Bills, Certificates of Deposit and money market funds. Realized gains and losses on sales of investments are determined on a specific identification basis. Proceeds from the sale and redemption of marketable securities amounted to $775,000 for the first half of 2024, and there were no realized gains or losses recognized on these sales. Proceeds from the sale and redemption of marketable securities amounted to $5,255,145 for the first half of 2023, which included realized losses on sales of $433,769.

Note 10 - Inventories

Note 10 - Inventories	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	10. Inventories June 30, December 31, 2024 2023 (unaudited) (audited) Inventories consist of the following: Raw materials $ 587,938 $ 476,501 Work in process 74,409 92,089 Finished products 509,740 654,916 Total inventories $ 1,172,087 $ 1,223,506 Inventories are valued at the lower of cost and net realizable value. Net realizable value is equal to the selling price less the estimated costs of selling and/or disposing of the product. Cost is determined using the average cost method, which approximates cost determined by the first-in, first-out (“FIFO”) method. Finished product inventories at June 30, 2024 and December 31, 2023 are stated net of a reserve of $25,000 and $47,000, respectively, for slow moving and obsolete inventory.

Note 11 - Income Taxes

Note 11 - Income Taxes	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11. Income Taxes The Company’s tax provision is based on its estimated annual effective tax rate. The Company continues to fully recognize its tax benefits, and as of June 30, 2024 and December 31, 2023, the Company did not have any unrecognized tax benefits. The Company’s provision for income taxes for the three and six months ended June 30, 2024 and 2023, included the following: Three months ended Six months ended June 30, June 30, 2024 2023 2024 2023 Provision for (benefit from) federal income taxes - current $ 302,100 $ (81,601 ) $ 472,040 $ 164,778 Provision for state income taxes - current - - 225 250 (Benefit from) provision for federal income taxes - deferred (53,141 ) 201,006 17,428 150,453 Total provision for income taxes $ 248,959 $ 119,405 $ 489,693 $ 315,481

Note 12 - Defined Contribution

Note 12 - Defined Contribution Plan	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Retirement Benefits [Text Block]	12. Defined Contribution Plan The Company sponsors a 401(k) defined contribution plan (“DC Plan”) that provides for a dollar-for-dollar employer matching contribution of the first 4% of each employee’s pay that is deferred by the employee. Employees become fully vested in employer matching contributions immediately. The Company also makes discretionary contributions to each employee's account based on a "pay-to-pay" safe-harbor formula that qualifies the 401(k) Plan under current IRS regulations. Employees become vested in the discretionary contributions as follows: 20% after two six The Company accrued $54,500 in contributions to the DC Plan for the six months ended June 30, 2024 and 2023, respectively. In the first six months of 2024 and 2023, the Company made discretionary contributions of $109,000 and $94,326, respectively, to the DC Plan. These payments represented the Company’s 2023 and 2022 accrued discretionary contributions, respectively.

Note 13 - Other Information

Note 13 - Other Information	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Other Liabilities Disclosure [Text Block]	13. Other Information June 30, December 31, Accrued Expenses 2024 2023 (audited) Bonuses $ 105,000 $ 187,002 Distribution fees 432,602 407,133 Payroll and related expenses 118,356 96,157 Reserve for outdated material 268,242 247,847 Company 401(k) contribution 54,500 109,000 Audit fee 42,128 71,000 Annual report expenses 40,623 81,725 Sales rebates 220,764 132,250 Insurance 42,272 - Other 30,266 30,930 Total accrued expenses $ 1,354,753 $ 1,363,044

Note 14 - Recent Accounting Pro

Note 14 - Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	14. Recent Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09 “ Income Taxes- Improvements to Income Tax Disclosures

Note 15 - Concentration of Cred

Note 15 - Concentration of Credit Risk	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	15. Concentrations of Credit Risk Customer Concentration During the three months ended June 30, 2024, the Company’s largest cosmetic ingredient distributors and three three During the six months ended June 30, 2024, the Company’s largest cosmetic ingredient distributors, along with three three

Note 16 - Supplier Concentratio

Note 16 - Supplier Concentration	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Vendor Concentration Risk Disclosure [Text Block]	16. Supplier Concentration Most of the principal raw materials used by the Company consist of common industrial organic and inorganic chemicals that available in ample supply from numerous sources. However, there are some raw materials used by the Company that are not readily available or require longer lead times. During the first half of 2024 and 2023, the Company had three three two

Note 17 - Related-party Transac

Note 17 - Related-party Transactions	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	17. Related-Party Transactions For the three- and six-month periods ended June 30, 2024, the Company made payments of $10,000 and $20,000, respectively, to Ken Globus, the Company’s former President, for consulting services provided to the Company. For the three- and six-month periods ended June 30, 2023, the Company made payments of $30,000 and $60,000, respectively, to Ken Globus for consulting services. For the three- and six-month periods ended June 30, 2024, the Company made payments of $5,250 and $10,750, respectively, to the accounting firm PKF O’Connor Davies (“PKF”) for accounting and tax services. For the three- and six-month periods ended June 30, 2023, the Company made payments of $3,000 to the accounting firm PKF, for accounting and tax services. Lawrence Maietta, a partner at PKF, is a director of the Company.

Note 18 - Earnings Per Share

Note 18 - Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	18. Earnings Per Share Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period, increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Per share basic and diluted earnings amounted to $0.21 and $0.10 for the three months ended June 30, 2024 and 2023, respectively, and $0.41 and $0.26 for the six months ended June 30, 2024 and 2023, respectively.

Note 19 - Dividends

Note 19 - Dividends	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Dividends [Text Block]	19. Dividends On January 30, 2024, the Company’s Board of Directors declared a cash dividend of $0.25 per share, which was paid on February 20, 2024, to all holders of record as of February 12, 2024. During the first half of 2024, the Company declared a total of $1,148,580 in dividends, of which $1,148,468 was paid. The balance of $112 is payable to stockholders whose old Guardian Chemical shares have not yet been exchanged to United-Guardian, Inc. shares and are pending escheatment. There were no

Note 20 - Subsequent Events

Note 20 - Subsequent Events	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	20. Subsequent Events

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	OTHER INFORMATION NONE
Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 5 - Cash and Cash Equiva_2

Note 5 - Cash and Cash Equivalents (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Cash and Cash Equivalents [Table Text Block]	June 30, December 31, 2024 2023 Demand Deposits $ 1,181,655 $ 340,034 Certificates of Deposit (original maturities of < 3 months) - 125,000 Money Market Funds 178,770 1,031,361 U.S. Treasury Bills (original 3-month maturity) 7,044,946 6,746,727 Total Cash and Cash Equivalents $ 8,405,371 $ 8,243,122

Note 7 - Revenue Recognition (T

Note 7 - Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three months ended Six months ended June 30, June 30, 2024 2023 2024 2023 Cosmetic ingredients $ 1,419,374 $ 772,887 $ 3,295,856 $ 1,534,788 Pharmaceuticals 1,413,664 1,376,601 2,363,987 2,730,825 Medical lubricants 557,167 482,512 985,306 903,543 Industrial products (1) - 18,299 - 51,467 Total Net Sales $ 3,390,205 $ 2,650,299 $ 6,645,149 $ 5,220,623
Revenue from External Customers by Geographic Areas [Table Text Block]	Three months ended Six months ended June 30, June 30, 2024 2023 2024 2023 United States* $ 2,808,237 $ 2,067,533 $ 5,627,173 $ 4,009,775 Other countries 581,968 582,766 1,017,976 1,210,848 Total Sales $ 3,390,205 $ 2,650,299 $ 6,645,149 $ 5,220,623

Note 9 - Marketable Securities

Note 9 - Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Gain (Loss) on Securities [Table Text Block]	THREE MONTHS SIX MONTHS ENDED 2024 2023 2024 2023 Net (losses) gains recognized during the period on marketable securities $ (9,501 ) $ 7,479 $ 31,995 $ 80,180 Less: Net losses recognized on marketable securities sold during the period - (433,769 ) - (433,769 ) Unrealized (losses) gains recognized during the reporting period on marketable securities still held at the reporting date $ (9,501 ) $ 441,248 $ 31,995 $ 513,949
Marketable Securities [Table Text Block]	June 30, 2024 Unrealized Cost Fair value gain Equity and other mutual funds $ 583,103 $ 617,086 $ 33,983 Other short-term investments: Fixed income Certificates of Deposit (original maturities >3 months) 836,456 836,456 - Total marketable securities $ 1,419,559 $ 1,453,542 $ 33,983 December 31, 2023 Unrealized Cost Fair Value gain Equity Securities Equity and other mutual funds $ 574,330 $ 576,318 $ 1,988 Other short-term investments: Fixed income Certificates of Deposit (original maturities >3 months) 275,000 275,000 - Total marketable securities $ 849,330 $ 851,318 $ 1,988

Note 10 - Inventories (Tables)

Note 10 - Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, December 31, 2024 2023 (unaudited) (audited) Inventories consist of the following: Raw materials $ 587,938 $ 476,501 Work in process 74,409 92,089 Finished products 509,740 654,916 Total inventories $ 1,172,087 $ 1,223,506

Note 11 - Income Taxes (Tables)

Note 11 - Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Three months ended Six months ended June 30, June 30, 2024 2023 2024 2023 Provision for (benefit from) federal income taxes - current $ 302,100 $ (81,601 ) $ 472,040 $ 164,778 Provision for state income taxes - current - - 225 250 (Benefit from) provision for federal income taxes - deferred (53,141 ) 201,006 17,428 150,453 Total provision for income taxes $ 248,959 $ 119,405 $ 489,693 $ 315,481

Note 13 - Other Information (Ta

Note 13 - Other Information (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	June 30, December 31, Accrued Expenses 2024 2023 (audited) Bonuses $ 105,000 $ 187,002 Distribution fees 432,602 407,133 Payroll and related expenses 118,356 96,157 Reserve for outdated material 268,242 247,847 Company 401(k) contribution 54,500 109,000 Audit fee 42,128 71,000 Annual report expenses 40,623 81,725 Sales rebates 220,764 132,250 Insurance 42,272 - Other 30,266 30,930 Total accrued expenses $ 1,354,753 $ 1,363,044

Note 5 - Cash and Cash Equiva_3

Note 5 - Cash and Cash Equivalents (Details Textual) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Cash, Uninsured Amount	$ 506,000	$ 315,000

Note 5 - Cash and Cash Equiva_4

Note 5 - Cash and Cash Equivalents - Schedule of Cash and Cash Equivalents (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Certificates of Deposit	$ 0	$ 125,000
Money market funds	178,770	1,031,361
U.S. Treasury Bills (original 3-month maturity)	7,044,946	6,746,727
Total cash and cash equivalents	8,405,371	8,243,122
Demand Deposits [Member]
Demand deposits	$ 1,181,655	$ 340,034

Note 6 - Accounts Receivable _2

Note 6 - Accounts Receivable and Reserves (Details Textual) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss	$ 20,241	$ 16,672

Note 7 - Revenue Recognition (D

Note 7 - Revenue Recognition (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Allowance for Material Returns	$ 268,242		$ 268,242		$ 247,847
Contract with Customer, Liability, Current	$ 0		$ 0		$ 15,498
Cosmetic Ingredients [Member] | Non-US [Member] | Geographic Concentration Risk [Member] | Revenue Benchmark [Member]
Concentration Risk, Percentage	17%	22%	15%	23%
ASI [Member] | Non-US [Member] | Geographic Concentration Risk [Member] | Revenue Benchmark [Member]
Concentration Risk, Percentage	85%	65%	84%	68%
ASI [Member] | CHINA | Geographic Concentration Risk [Member] | Revenue Benchmark [Member]
Concentration Risk, Percentage	56%	35%	50%	29%

Note 7 - Revenue Recognition -

Note 7 - Revenue Recognition - Disaggregated Revenue (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net sales		$ 3,390,205	$ 2,650,299	$ 6,645,149	$ 5,220,623
Cosmetic Ingredients [Member]
Net sales		1,419,374	772,887	3,295,856	1,534,788
Pharmaceuticals [Member]
Net sales		1,413,664	1,376,601	2,363,987	2,730,825
Medical [Member]
Net sales		557,167	482,512	985,306	903,543
Industrial And Other [Member]
Net sales	[1]	$ 0	$ 18,299	$ 0	$ 51,467
[1](1) This product line was discontinued as of July 1, 2023.

Note 7 - Revenue Recognition _2

Note 7 - Revenue Recognition - Revenue by Geographic Region (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net sales	$ 3,390,205	$ 2,650,299	$ 6,645,149	$ 5,220,623
UNITED STATES
Net sales	2,808,237	2,067,533	5,627,173	4,009,775
Non-US [Member]
Net sales	$ 581,968	$ 582,766	$ 1,017,976	$ 1,210,848

Note 8 - Accounting for Finan_2

Note 8 - Accounting for Financial Instruments - Credit Losses (Details Textual) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 20,241	$ 16,672

Note 9 - Marketable Securitie_2

Note 9 - Marketable Securities (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Proceeds from Sale and Maturity of Marketable Securities			$ 775,000	$ 5,255,145
Debt and Equity Securities, Realized Gain (Loss)	$ 0	$ 433,769	$ 0	$ 433,769

Note 9 - Marketable Securitie_3

Note 9 - Marketable Securities - Net Gains and Losses on Marketable Securities (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net (losses) gains recognized during the period on marketable securities	$ (9,501)	$ 7,479	$ 31,995	$ 80,180
Less: Net losses recognized during the period on marketable securities sold during the period	0	(433,769)	0	(433,769)
Unrealized (losses) gains recognized during the reporting period on marketable securities still held at the reporting date	$ (9,501)	$ 441,248	$ 31,995	$ 513,949

Note 9 - Marketable Securitie_4

Note 9 - Marketable Securities - Summary of Investments (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Equity and other mutual funds, cost	$ 583,103
Equity and other mutual funds, fair value	617,086
Equity and other mutual funds, unrealized gain	33,983
Fixed income certificates of deposit, cost	836,456	$ 275,000
Fixed income certificates of deposit, fair value	836,456	275,000
Fixed income certificates of deposit, unrealized loss	0
Marketable securities, cost	1,419,559	849,330
Marketable securities	1,453,542	851,318
Marketable securities, unrealized loss	$ 33,983	1,988
Equity And Other Mutual Funds [Member]
Equity and other mutual funds, cost		574,330
Equity and other mutual funds, fair value		576,318
Equity and other mutual funds, unrealized gain		$ 1,988

Note 10 - Inventories (Details

Note 10 - Inventories (Details Textual) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Inventory Valuation Reserves	$ 25,000	$ 47,000

Note 10 - Inventories - Summary

Note 10 - Inventories - Summary of Inventories (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Raw materials	$ 587,938	$ 476,501
Work in process	74,409	92,089
Finished products	509,740	654,916
Total inventories	$ 1,172,087	$ 1,223,506

Note 11 - Income Taxes - Provis

Note 11 - Income Taxes - Provision for Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Provision for federal income taxes - current	$ 302,100	$ (81,601)	$ 472,040	$ 164,778
Provision for state income taxes - current	0	0	225	250
Provision for (benefit from) federal income taxes – deferred	(53,141)	201,006	17,428	150,453
Total provision for income taxes	$ 248,959	$ 119,405	$ 489,693	$ 315,481

Note 12 - Defined Contributio_2

Note 12 - Defined Contribution Plan (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Defined Contribution Plan, Cost	$ 54,500	$ 54,500
DC Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	4%
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 109,000	$ 94,326
DC Plan [Member] | Discretionary Contributions Vesting at Two Years [Member]
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	20%
Defined Contribution, Discretionary Contribution Plan, Vesting Period (Year)	2 years
DC Plan [Member] | Discretionary Contributions Vesting Each Additional Year [Member]
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	20%
Defined Contribution, Discretionary Contribution Plan, Vesting Period (Year)	6 years

Note 13 - Other Information - S

Note 13 - Other Information - Summary of Accrued Expenses (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Bonuses	$ 105,000	$ 187,002
Distribution fees	432,602	407,133
Payroll and related expenses	118,356	96,157
Reserve for outdated material	268,242	247,847
Company 401(k) contribution	54,500	109,000
Audit fee	42,128	71,000
Annual report expenses	40,623	81,725
Sales rebates	220,764	132,250
Insurance	42,272	0
Other	30,266	30,930
Total Accrued Expenses	$ 1,354,753	$ 1,363,044

Note 15 - Concentration of Cr_2

Note 15 - Concentration of Credit Risk (Details Textual)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Distributor [Member]
Number of Customers	3	3	3	3
Distributors and Marketing Partners [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Concentration Risk, Percentage	82%	72%	82%	73%
Distributors and Marketing Partners [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Concentration Risk, Percentage	83%	82%	83%	82%

Note 16 - Supplier Concentrat_2

Note 16 - Supplier Concentration (Details Textual)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Number of Vendors	3	2	3	3
Cost of Goods and Service, Product and Service Benchmark [Member] | Supplier Concentration Risk [Member] | Three Raw Material Vendors [Member]
Concentration Risk, Percentage	83%		79%	80%
Cost of Goods and Service, Product and Service Benchmark [Member] | Supplier Concentration Risk [Member] | Two Raw Material Vendors [Member]
Concentration Risk, Percentage		89%

Note 17 - Related-party Trans_2

Note 17 - Related-party Transactions (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Previous President and CEO [Member] | Consulting Services [Member]
Related Party Transaction, Amounts of Transaction	$ 10,000	$ 20,000	$ 30,000	$ 60,000
Director [Member] | Accounting and Tax Services [Member]
Related Party Transaction, Amounts of Transaction	$ 5,250	$ 10,750	$ 3,000	$ 3,000

Note 18 - Earnings Per Share (D

Note 18 - Earnings Per Share (Details Textual) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share, Basic, Total (in dollars per share)	$ 0.21	$ 0.1	$ 0.41	$ 0.26

Note 19 - Dividends (Details Te

Note 19 - Dividends (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Common Stock, Dividends, Per Share, Declared	$ 0.25
Dividends Declared	$ 1,148,580
Dividends, Paid	1,148,468	$ 0
Dividends payable	$ 112	$ 0	$ 112

Note 20 - Subsequent Events (De

Note 20 - Subsequent Events (Details Textual) - USD ($)			6 Months Ended
	Jul. 31, 2024	Jul. 10, 2024	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Common Stock, Dividends, Per Share, Declared			$ 0.25
Payments of Dividends			$ 1,148,468	$ 0
Dividends payable			$ 112	$ 0	$ 112
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared		$ 0.35
Payments of Dividends	$ 1,607,855
Dividends payable	$ 156