Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | May 10, 2021 | |
Document Information [Line Items] | ||
Entity Registrant Name | Usio, Inc. | |
Entity Central Index Key | 0001088034 | |
Trading Symbol | usio | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 25,056,033 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common stock, par value $0.001 per share |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and cash equivalents | $ 4,284,360 | $ 5,011,132 |
Accounts receivable, net | 3,597,928 | 2,863,638 |
Settlement processing assets | 36,792,386 | 43,558,442 |
Prepaid card load assets | 18,555,474 | 7,610,242 |
Customer deposits | 1,357,242 | 1,305,296 |
Inventory | 180,927 | 176,466 |
Prepaid expenses and other | 524,665 | 301,755 |
Current assets before merchant reserves | 65,292,982 | 60,826,971 |
Merchant reserves | 8,317,462 | 8,265,555 |
Total current assets | 73,610,444 | 69,092,526 |
Property and equipment, net | 3,226,152 | 3,105,926 |
Other assets: | ||
Intangibles, net | 5,567,794 | 6,035,761 |
Deferred tax asset | 1,394,000 | 1,394,000 |
Operating lease right-of-use assets | 2,750,346 | 2,671,266 |
Other assets | 353,815 | 368,078 |
Total other assets | 10,065,955 | 10,469,105 |
Total assets | 86,902,551 | 82,667,557 |
Current liabilities: | ||
Accounts payable | 493,348 | 851,349 |
Accrued expenses | 1,971,192 | 1,463,944 |
Operating lease liabilities, current portion | 427,609 | 346,913 |
Equipment loan, current portion | 53,135 | |
Settlement processing obligations | 36,792,386 | 43,558,442 |
Prepaid card load obligations | 18,555,474 | 7,610,242 |
Customer deposits | 1,357,242 | 1,305,296 |
Deferred revenues | 57,353 | 66,572 |
Current liabilities before merchant reserve obligations | 59,707,739 | 55,202,758 |
Merchant reserve obligations | 8,317,462 | 8,265,555 |
Total current liabilities | 68,025,201 | 63,468,313 |
Non-current liabilities: | ||
Equipment loan, non-current portion | 112,861 | |
Operating lease liabilities, non-current portion | 2,494,135 | 2,495,883 |
Total liabilities | 70,632,197 | 65,964,196 |
Stockholders’ equity: | ||
Preferred stock, $0.01 par value, 10,000,000 shares authorized; -0- shares outstanding at March 31, 2021 (unaudited) and December 31, 2020, respectively | ||
Common stock, $0.001 par value, 200,000,000 shares authorized; 26,314,460 and 26,260,776 issued, and 25,013,557 and 24,974,995 outstanding at March 31, 2021 (unaudited) and December 31, 2020, respectively | 194,745 | 194,692 |
Additional paid-in capital | 89,740,284 | 89,659,433 |
Treasury stock, at cost; 1,300,903 and 1,285,781 shares at March 31, 2021 (unaudited) and December 31, 2020, respectively | (2,215,175) | (2,165,721) |
Deferred compensation | (5,671,077) | (5,926,872) |
Accumulated deficit | (65,778,423) | (65,058,171) |
Total stockholders’ equity | 16,270,354 | 16,703,361 |
Total liabilities and stockholders’ equity | $ 86,902,551 | $ 82,667,557 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2021 | Dec. 31, 2020 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, issued (in shares) | 26,314,460 | 26,260,776 |
Common stock, outstanding (in shares) | 25,013,557 | 24,974,995 |
Treasury stock, shares (in shares) | 1,300,903 | 1,285,781 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Revenues | $ 13,461,550 | $ 7,771,679 |
Cost of services | 10,554,313 | 5,843,395 |
Gross profit | 2,907,237 | 1,928,284 |
Selling, general and administrative: | ||
Stock-based compensation | 327,715 | 287,710 |
Other SG&A expenses | 2,660,034 | 2,122,106 |
Depreciation and amortization | 622,207 | 387,795 |
Total selling, general and administrative expenses | 3,609,956 | 2,797,611 |
Operating (loss) | (702,719) | (869,327) |
Other income and (expense): | ||
Interest income | 2,467 | 11,156 |
Other income (expense) | 688 | |
Other income and (expense), net | 2,467 | 11,844 |
(Loss) before income taxes | (700,252) | (857,483) |
Income tax expense | 20,000 | (22,474) |
Net (loss) | $ (720,252) | $ (835,009) |
Basic (loss) per common share: (in dollars per share) | $ (0.04) | $ (0.06) |
Diluted (loss) per common share: (in dollars per share) | $ (0.04) | $ (0.06) |
Weighted average common shares outstanding | ||
Basic (in shares) | 19,931,935 | 13,127,229 |
Diluted (in shares) | 19,931,935 | 13,127,229 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Operating activities: | ||
Net (loss) | $ (720,252) | $ (835,009) |
Adjustments to reconcile net (loss) to net cash provided (used) by operating activities: | ||
Depreciation | 154,240 | 137,795 |
Amortization | 467,967 | 250,000 |
Bad debt | 15,046 | |
Non-cash stock-based compensation | 327,715 | 287,710 |
Amortization of warrant costs | 8,985 | 8,985 |
Changes in current assets and current liabilities: | ||
Accounts receivable | (749,336) | 191,693 |
Prepaid expenses and other | (222,910) | (58,844) |
Operating lease right-of-use assets | (79,080) | 56,727 |
Other assets | 14,263 | (20,694) |
Inventory | (4,461) | |
Accounts payable and accrued expenses | 149,247 | (165,975) |
Operating lease liabilities | 78,948 | (54,767) |
Prepaid card load obligations | 10,945,232 | 53,141 |
Merchant reserves | 51,907 | (1,492,000) |
Customer deposits | 51,946 | |
Deferred revenue | (9,219) | (13,235) |
Net cash provided (used) by operating activities | 10,480,238 | (1,654,473) |
Investing activities: | ||
Purchases of property and equipment | (274,467) | (152,654) |
Net cash provided by investing activities | (274,467) | (152,654) |
Financing activities: | ||
Proceeds from equipment loan | 165,996 | |
Purchases of treasury stock | (49,454) | (26,629) |
Net cash provided (used) by financing activities | 116,542 | (26,629) |
Change in cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves | 10,322,313 | (1,833,756) |
Cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves, beginning of period | 22,192,225 | 12,682,918 |
Cash, Cash Equivalents, Prepaid Card Load Assets, Customer Deposits and Merchant Reserves, End of Period | 32,514,538 | 10,849,162 |
Supplemental disclosure of cash flow information: | ||
Interest | ||
Income taxes | ||
Non-cash transactions: | ||
Issuance of deferred stock compensation |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) | Public Stock Offering [Member]Common Stock [Member] | Public Stock Offering [Member]Additional Paid-in Capital [Member] | Public Stock Offering [Member]Treasury Stock [Member] | Public Stock Offering [Member]Deferred Compensation, Share-based Payments [Member] | Public Stock Offering [Member]Retained Earnings [Member] | Public Stock Offering [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Deferred Compensation, Share-based Payments [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2019 | 18,224,577 | |||||||||||
Balance at Dec. 31, 2019 | $ 186,656 | $ 77,055,273 | $ (1,885,452) | $ (5,636,154) | $ (62,151,988) | $ 7,568,335 | ||||||
Issuance of common stock under equity incentive plan (in shares) | 51,000 | |||||||||||
Issuance of common stock under equity incentive plan | $ 51 | $ 59,440 | $ 59,491 | |||||||||
Warrant compensation costs | 8,985 | 8,985 | ||||||||||
Deferred compensation amortization | 228,219 | 228,219 | ||||||||||
Purchase of treasury stock costs | (26,629) | (26,629) | ||||||||||
Net (loss) for the period | (835,009) | (835,009) | ||||||||||
Balance (in shares) at Mar. 31, 2020 | 18,275,577 | |||||||||||
Balance at Mar. 31, 2020 | $ 186,707 | 77,123,698 | (1,912,081) | (5,407,935) | (62,986,997) | 7,003,392 | ||||||
Balance (in shares) at Dec. 31, 2020 | 26,260,776 | |||||||||||
Balance at Dec. 31, 2020 | $ 194,692 | 89,659,433 | (2,165,721) | (5,926,872) | (65,058,171) | 16,703,361 | ||||||
Issuance of common stock under equity incentive plan (in shares) | 51,000 | |||||||||||
Issuance of common stock under equity incentive plan | $ 51 | 120,484 | 120,535 | |||||||||
Warrant compensation costs | 8,985 | 8,985 | ||||||||||
Cashless warrant exercise (in shares) | 19,795 | |||||||||||
Cashless warrant exercise | $ 19 | (19) | ||||||||||
Reversal of deferred compensation amortization that did not vest (in shares) | (17,111) | |||||||||||
Reversal of deferred compensation amortization that did not vest | $ (17) | (48,599) | 5,994 | (42,622) | ||||||||
Deferred compensation amortization | 249,801 | 249,801 | ||||||||||
Purchase of treasury stock costs | (49,454) | (49,454) | ||||||||||
Net (loss) for the period | (720,252) | (720,252) | ||||||||||
Balance (in shares) at Mar. 31, 2021 | 26,314,460 | |||||||||||
Balance at Mar. 31, 2021 | $ 194,745 | $ 89,740,284 | $ (2,215,175) | $ (5,671,077) | $ (65,778,423) | $ 16,270,354 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Business Description and Accounting Policies [Text Block] | Note 1. The accompanying unaudited interim condensed consolidated financial statements of Usio, Inc. and its subsidiaries (the “Company”) have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles have been omitted pursuant to such rules and regulations. In the opinion of management, the accompanying interim condensed consolidated financial statements reflect all adjustments of a normal recurring nature considered necessary to present fairly the Company's financial position, results of operations and cash flows for such periods. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company's annual report on Form 10 December 31, 2020, March 30, 2021. not may Use of Estimates: Revenue Recognition: 606 10 may may third 45 30 not The following table presents the Company's payment processing service revenues by source: Three Months Ended March 31, 2021 2020 ACH and complementary service revenue $ 3,078,456 $ 2,237,746 Credit card revenue 5,723,709 4,982,658 Prepaid card services revenue 886,576 551,275 Output solutions revenue 3,772,809 — Total revenue $ 13,461,550 $ 7,771,679 Deferred Revenues: $57,353 $66,572 March 31, 2021 December 31, 2020 Cash and Cash Equivalents: 90 Settlement Processing Assets and Obligations: Customer Deposits: not Merchant Reserves: may not Prepaid Card Load Assets: The reconciliation of cash and cash equivalents to cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves is as follows for each period presented: Three Months Ended March 31, 2021 2020 Beginning cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves: Cash and cash equivalents $ 5,011,132 $ 2,137,580 Prepaid card load assets 7,610,242 528,434 Customer deposits 1,305,296 — Merchant reserves 8,265,555 10,016,904 Total $ 22,192,225 $ 12,682,918 Ending cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves: Cash and cash equivalents $ 4,284,360 $ 1,742,683 Prepaid card load assets 18,555,474 581,575 Customer deposits 1,357,242 — Merchant reserves 8,317,462 8,524,904 Total $ 32,514,538 $ 10,849,162 Allowance for Estimated Losses: $205,000 $205,522 March 31, 2021 December 31, 2020 Inventory March 31, 2021 December 31, 2020, Accounting for Internal Use Software: no three March 31, 2021 March 31, 2020 $187,914 $135,419 Valuation of Long-Lived and Intangible Assets: may not may not No 2020 three March 31, 2021 not may Reserve for Processing Losses: one not may may not March 31, 2021 December 31, 2020 $548,199 $515,199 New Accounting Pronouncements June 2016, No. 2016 13, Financial Instruments - Credit Losses 326 326 326 December 25, 2022, not 2016 13 Accounting standards that have been issued or proposed by the FASB, the SEC or other standard setting bodies that do not not |
Note 2 - Acquisition of Informa
Note 2 - Acquisition of Information Management Solutions, LLC | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 2. On December 15, 2020, $5,907,408 $552,283. 945,599 945,599 $0.001 $4.23 The final number of warrants was determined by dividing $2,000,000 5 four $2.115 5 2. three second third five The purchase price was allocated to the net assets acquired based upon their estimated fair values as follows: Estimated Fair Estimated Useful Value Life (in years) Accounts receivable $ 683,736 Inventory 168,138 Fixed assets 1,211,225 5 Prepaid expenses 29,849 Other assets 7,408 Customer list 3,807,052 5 Total Cash Consideration $ 5,907,408 Customer list $ 552,283 Total Warrant Consideration $ 552,283 Total Purchase Price $ 6,459,691 The 2020 one $1.2 $0.6 Unaudited Pro Forma Information The unaudited proforma results including the effects of the IMS acquisition as if it had been consummated on January 1, 2019 8 March 3, 2021 10 March 30, 2021. |
Note 3 - Leases
Note 3 - Leases | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 3. The Company leases facilities and office equipment under various operating leases, which generally are expected to be renewed or replaced by other leases. For the quarter ended March 31, 2021 2020 $104,131 $68,086 Operating lease liabilities as of March 31, 2021 2021 $ 415,422 2022 563,818 2023 495,565 2024 458,787 2025 353,990 Thereafter 1,115,689 Total minimum lease payments 3,403,271 Less imputed interest (481,527 ) Total lease liabilities $ 2,921,744 |
Note 4 - Accrued Expenses
Note 4 - Accrued Expenses | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | Note 4. Accrued expenses consisted of the following balances: March 31, 2021 December 31, 2020 Accrued commissions $ 623,662 $ 373,154 Reserve for merchant losses 548,199 515,199 Other accrued expenses 291,552 225,412 Accrued taxes 147,625 132,363 Accrued salaries 360,154 217,816 Total accrued expenses $ 1,971,192 $ 1,463,944 |
Note 5 - Equipment Loan
Note 5 - Equipment Loan | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 5. On March 20, 2021, $165,996 36 March 20, 2024. 36 $4,902 $58,821. 3.95%. |
Note 6 - Stockholders' Equity
Note 6 - Stockholders' Equity | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 6. Stock Warrants August 21, 2018, 150,000 30,000 first October 5, 2018. 120,000 4 30,000 July 31, 2019 July 31, 2022. 30,000 October 5, 2018 $1.80 120,000 $2.00 one hundred twenty 120% $0.94 30,000 $0.90 120,000 2.77%; 5 0%; 64.6%. $135,764 three March 31, 2021 2020 $8,985 On August 12, 2020, 27,051 $3.46 60,000 On February 5, 2021, 19,795 $5.88 30,000 On December 15, 2020, 945,599 945,599 $0.001 $4.23. $0.58; 0.09%; 5 0%; 59.9%. $552,283 five Equity Transactions April 1, 2020, 1,444,000 10 103,000 3 $1.08 300,000 200,000 10,000 30,000 On July 1, 2020, 1,796,407 $1.67 $3.0 On September 25, 2020, 4,705,883 $1.70 $0.12325 $100,000. $7.4 |
Note 7 - Net (Loss) Per Share
Note 7 - Net (Loss) Per Share | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 7. Basic (loss) per share (EPS) was computed by dividing net (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted EPS differs from basic EPS due to the assumed conversion of potentially dilutive awards and options that were outstanding during the period. The following is a reconciliation of the numerators and the denominators of the basic and diluted per share computations for net (loss) for the three March 31, 2021 March 31, 2020 Three Months Ended March 31, 2021 2020 Numerator: Numerator for basic and diluted (loss) per share, net (loss) available to common shareholders $ (720,252 ) $ (835,009 ) Denominator: Denominator for basic (loss) per share, weighted average shares outstanding 19,931,935 13,127,229 Effect of dilutive securities — — Denominator for diluted earnings per share, adjust weighted average shares and assumed conversion 19,931,935 13,127,229 Basic (loss) per common share $ (0.04 ) $ (0.06 ) Diluted (loss) per common share and common share equivalent $ (0.04 ) $ (0.06 ) The awards and options to purchase shares of common stock that were outstanding at March 31, 2021 March 31, 2020 not Three Months Ended March 31, 2021 2020 Anti-dilutive awards and options 5,094,991 4,023,780 |
Note 8 - Income Taxes
Note 8 - Income Taxes | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 8. Deferred tax assets and liabilities are recorded based on the difference between financial reporting and tax basis of assets and liabilities and are measured by the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Deferred tax assets are computed with the presumption that they will be realizable in future periods when taxable income is generated. Predicting the ability to realize these assets in future periods requires judgment by management. U.S. generally accepted accounting principles prescribe a recognition threshold and measurement attribute for a tax position taken or expected to be taken in a tax return. Income tax benefits that meet the “more likely than not” The Company has recognized a deferred tax asset of approximately $1.4 $7.5 may At December 31, 2020 $39.4 2017 2021. 2018, $0.5 382 1999. Management is not |
Note 9 - Related Party Transact
Note 9 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 9. Louis Hoch During the three March 31, 2021 December 31, 2020 $0 $9,886, 50% Directors and Officers On January 6, 2021, 11,860 $3.25 On January 6, 2020, 11,860 $1.74 The Company granted 1,444,000 10 103,000 3 April 1, 2020 $1.08 300,000 200,000 10,000 30,000 As approved by the Company's Compensation Committee, on November 1, 2020, 136,891 $216,000 $1.5779 October 15, 2020 November 1, 2020, 54,756 |
Note 10 - COVID-19
Note 10 - COVID-19 | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Effect of Covid-19 Pandemic [Text Block] | Note 10. 19 The ongoing COVID- 19 not 19 19, At this time, most states are reducing mandated operating restrictions and efforts are underway to provide vaccinations to as many people as possible. During 2020 2021, 19 The Company's business was initially adversely affected as doctor's offices, dental offices, veterinarian offices and non-bank consumer lending accounts were ordered closed in connection with curbing the spread of the pandemic. As these doctors, dental and veterinarian offices re-opened, these businesses quickly recovered and returned to levels higher than pre-COVID. Consumer lending merchants were adversely affected by COVID relief payments made during the pandemic and the pause placed on past due amounts owed. The level of activity for consumer lending merchants has not The impacts and recovery from the COVID- 19 not |
Note 11 - Legal Proceedings
Note 11 - Legal Proceedings | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | Note 11. Vaden Landers On January 19, 2021, Usio, Inc. v. Vaden Landers No. 2021CI01069, 407th September 1, 2017 - February 2, 2021. Mr. Landers initially refused to participate in the arbitration proceeding. After hearings in Bexar County state court proceeding, all of the parties' claims, excluding Mr. Lander's claims for defamation and tortious interference with contract, were ordered to be heard by the American Arbitration Association. The Company denies Mr. Landers' allegations and does not On or about April 27, 2021, Through its investigation, the Company has learned that Mr. Landers committed other violations of his employment agreement and intends to pursue those claims in arbitration. Both the state court litigation and the arbitration are in their initial stages. The Company recently served Mr. Landers with a request for production of documents in the Bexar County state court proceeding, but Mr. Landers has not Aside from the proceedings above, the Company may not no not |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 12. On April 18, 2021, $350,000 $566,000 April 18, 2021. $216,000 The Compensation Committee also approved a change of the term of the employment agreement of Tom Jewell, the Company's Chief Financial Officer, from one two one one |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates: |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition: 606 10 may may third 45 30 not The following table presents the Company's payment processing service revenues by source: Three Months Ended March 31, 2021 2020 ACH and complementary service revenue $ 3,078,456 $ 2,237,746 Credit card revenue 5,723,709 4,982,658 Prepaid card services revenue 886,576 551,275 Output solutions revenue 3,772,809 — Total revenue $ 13,461,550 $ 7,771,679 Deferred Revenues: $57,353 $66,572 March 31, 2021 December 31, 2020 |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents: 90 |
Credit Card Origination Costs, Policy [Policy Text Block] | Settlement Processing Assets and Obligations: |
Customer Deposits [Policy Text Block] | Customer Deposits: not |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Merchant Reserves: may not |
Prepaid Card Load Assets, Policy [Policy Text Block] | Prepaid Card Load Assets: The reconciliation of cash and cash equivalents to cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves is as follows for each period presented: Three Months Ended March 31, 2021 2020 Beginning cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves: Cash and cash equivalents $ 5,011,132 $ 2,137,580 Prepaid card load assets 7,610,242 528,434 Customer deposits 1,305,296 — Merchant reserves 8,265,555 10,016,904 Total $ 22,192,225 $ 12,682,918 Ending cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves: Cash and cash equivalents $ 4,284,360 $ 1,742,683 Prepaid card load assets 18,555,474 581,575 Customer deposits 1,357,242 — Merchant reserves 8,317,462 8,524,904 Total $ 32,514,538 $ 10,849,162 |
Receivable [Policy Text Block] | Allowance for Estimated Losses: $205,000 $205,522 March 31, 2021 December 31, 2020 |
Inventory, Policy [Policy Text Block] | Inventory March 31, 2021 December 31, 2020, |
Internal Use Software, Policy [Policy Text Block] | Accounting for Internal Use Software: no three March 31, 2021 March 31, 2020 $187,914 $135,419 |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Valuation of Long-Lived and Intangible Assets: may not may not No 2020 three March 31, 2021 not may |
Contingent Liability Reserve Estimate, Policy [Policy Text Block] | Reserve for Processing Losses: one not may may not March 31, 2021 December 31, 2020 $548,199 $515,199 |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements June 2016, No. 2016 13, Financial Instruments - Credit Losses 326 326 326 December 25, 2022, not 2016 13 Accounting standards that have been issued or proposed by the FASB, the SEC or other standard setting bodies that do not not |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2021 2020 ACH and complementary service revenue $ 3,078,456 $ 2,237,746 Credit card revenue 5,723,709 4,982,658 Prepaid card services revenue 886,576 551,275 Output solutions revenue 3,772,809 — Total revenue $ 13,461,550 $ 7,771,679 |
Schedule of Cash and Cash Equivalents [Table Text Block] | Three Months Ended March 31, 2021 2020 Beginning cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves: Cash and cash equivalents $ 5,011,132 $ 2,137,580 Prepaid card load assets 7,610,242 528,434 Customer deposits 1,305,296 — Merchant reserves 8,265,555 10,016,904 Total $ 22,192,225 $ 12,682,918 Ending cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves: Cash and cash equivalents $ 4,284,360 $ 1,742,683 Prepaid card load assets 18,555,474 581,575 Customer deposits 1,357,242 — Merchant reserves 8,317,462 8,524,904 Total $ 32,514,538 $ 10,849,162 |
Note 2 - Acquisition of Infor_2
Note 2 - Acquisition of Information Management Solutions, LLC (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Estimated Fair Estimated Useful Value Life (in years) Accounts receivable $ 683,736 Inventory 168,138 Fixed assets 1,211,225 5 Prepaid expenses 29,849 Other assets 7,408 Customer list 3,807,052 5 Total Cash Consideration $ 5,907,408 Customer list $ 552,283 Total Warrant Consideration $ 552,283 Total Purchase Price $ 6,459,691 |
Note 3 - Leases (Tables)
Note 3 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2021 $ 415,422 2022 563,818 2023 495,565 2024 458,787 2025 353,990 Thereafter 1,115,689 Total minimum lease payments 3,403,271 Less imputed interest (481,527 ) Total lease liabilities $ 2,921,744 |
Note 4 - Accrued Expenses (Tabl
Note 4 - Accrued Expenses (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | March 31, 2021 December 31, 2020 Accrued commissions $ 623,662 $ 373,154 Reserve for merchant losses 548,199 515,199 Other accrued expenses 291,552 225,412 Accrued taxes 147,625 132,363 Accrued salaries 360,154 217,816 Total accrued expenses $ 1,971,192 $ 1,463,944 |
Note 7 - Net (Loss) Per Share (
Note 7 - Net (Loss) Per Share (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2021 2020 Numerator: Numerator for basic and diluted (loss) per share, net (loss) available to common shareholders $ (720,252 ) $ (835,009 ) Denominator: Denominator for basic (loss) per share, weighted average shares outstanding 19,931,935 13,127,229 Effect of dilutive securities — — Denominator for diluted earnings per share, adjust weighted average shares and assumed conversion 19,931,935 13,127,229 Basic (loss) per common share $ (0.04 ) $ (0.06 ) Diluted (loss) per common share and common share equivalent $ (0.04 ) $ (0.06 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended March 31, 2021 2020 Anti-dilutive awards and options 5,094,991 4,023,780 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Contract with Customer, Liability, Current | $ 57,353 | $ 66,572 | |
Accounts Receivable, Allowance for Credit Loss, Current | 205,000 | 205,522 | |
Capitalized Computer Software, Additions | 187,914 | $ 135,419 | |
Asset Impairment Charges, Total | 0 | $ 0 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance | $ 548,199 | $ 515,199 |
Note 1 - Basis of Presentatio_3
Note 1 - Basis of Presentation - Schedule of Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Revenues | $ 13,461,550 | $ 7,771,679 |
ACH and Complementary Service Revenue [Member] | ||
Revenues | 3,078,456 | 2,237,746 |
Credit Card Revenue [Member] | ||
Revenues | 5,723,709 | 4,982,658 |
Prepaid Card Services Revenue [Member] | ||
Revenues | 886,576 | 551,275 |
Output Solutions [Member] | ||
Revenues | $ 3,772,809 |
Note 1 - Basis of Presentatio_4
Note 1 - Basis of Presentation - Reconciliation of Cash and Cash Equivalents to Cash, Cash Equivalents and Merchant Reserves (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Cash and cash equivalents | $ 5,011,132 | $ 1,742,683 | $ 2,137,580 |
Prepaid card load assets | 7,610,242 | 581,575 | 528,434 |
Customer deposits | 1,305,296 | ||
Merchant reserves | 8,265,555 | 8,524,904 | 10,016,904 |
Cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves, beginning of period | 22,192,225 | 10,849,162 | 12,682,918 |
Cash and cash equivalents | 4,284,360 | 5,011,132 | 1,742,683 |
Prepaid card load assets | 18,555,474 | 7,610,242 | 581,575 |
Customer deposits | 1,357,242 | 1,305,296 | |
Merchant reserves | 8,317,462 | 8,265,555 | 8,524,904 |
Cash, Cash Equivalents, Prepaid Card Load Assets, Customer Deposits and Merchant Reserves, End of Period | $ 32,514,538 | $ 22,192,225 | $ 10,849,162 |
Note 2 - Acquisition of Infor_3
Note 2 - Acquisition of Information Management Solutions, LLC (Details Textual) | Dec. 15, 2020USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / shares | Mar. 31, 2021$ / shares |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 |
Warrants Issued to Acquire Information Management Solutions, LLC [Member] | |||
Class of Warrant or Right, Issued During Period (in shares) | shares | 945,599 | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 945,599 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 4.23 | ||
Determination of Number of Warrants, Numerator | $ 2,000,000 | ||
Determination of Number of Warrants, Denominator (in dollars per share) | $ / shares | $ 2.115 | ||
Class of Warrant or Right, Number By which the 5-day Weighted Average Closing Price is Multiplied to Determine Exercise Price | 2 | ||
Class of Warrant or Right, Vesting, Number of Equal Installments | 3 | ||
Class of Warrant or Right, Term Following Vesting (Year) | 5 years | ||
Acquisition of Information Management Solutions, LLC [Member] | |||
Payments to Acquire Businesses, Gross | $ 5,907,408 | ||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 552,283 | ||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | $ 1,200,000 | ||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | $ 600,000 | ||
Acquisition of Information Management Solutions, LLC [Member] | Warrants [Member] | |||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 552,283 |
Note 2 - Acquisition of Infor_4
Note 2 - Acquisition of Information Management Solutions, LLC - Purchase Price Allocation (Details) - Acquisition of Information Management Solutions, LLC [Member] | Dec. 15, 2020USD ($) |
Accounts receivable | $ 683,736 |
Inventory | 168,138 |
Fixed assets | $ 1,211,225 |
Fixed assets, estimated useful life (Year) | 5 years |
Prepaid expenses | $ 29,849 |
Other assets | 7,408 |
Customer list | $ 3,807,052 |
Customer list, estimated useful life (Year) | 5 years |
Payments to Acquire Businesses, Gross | $ 5,907,408 |
Customer list | 552,283 |
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 552,283 |
Total Purchase Price | $ 6,459,691 |
Note 3 - Leases (Details Textua
Note 3 - Leases (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Operating Lease, Expense | $ 104,131 | $ 68,086 |
Note 3 - Leases - Maturities of
Note 3 - Leases - Maturities of Lease Liabilities (Details) | Mar. 31, 2021USD ($) |
2021 | $ 415,422 |
2022 | 563,818 |
2023 | 495,565 |
2024 | 458,787 |
2025 | 353,990 |
Thereafter | 1,115,689 |
Total minimum lease payments | 3,403,271 |
Less imputed interest | (481,527) |
Total lease liabilities | $ 2,921,744 |
Note 4 - Accrued Expenses - Sum
Note 4 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Accrued commissions | $ 623,662 | $ 373,154 |
Reserve for merchant losses | 548,199 | 515,199 |
Other accrued expenses | 291,552 | 225,412 |
Accrued taxes | 147,625 | 132,363 |
Accrued salaries | 360,154 | 217,816 |
Total accrued expenses | $ 1,971,192 | $ 1,463,944 |
Note 5 - Equipment Loan (Detail
Note 5 - Equipment Loan (Details Textual) - Debit Arrangement to Finance Purchase of Output Solutions Sorter [Member] | Mar. 20, 2021USD ($) |
Debt Instrument, Face Amount | $ 165,996 |
Debt Instrument, Term (Month) | 3 years |
Debt Instrument, Periodic Payment, Total | $ 4,902 |
Debt Instrument, Annual Periodic Payment | $ 58,821 |
Debt Instrument, Interest Rate, Stated Percentage | 3.95% |
Note 6 - Stockholders' Equity (
Note 6 - Stockholders' Equity (Details Textual) | Feb. 05, 2021$ / sharesshares | Dec. 15, 2020USD ($)$ / sharesshares | Sep. 25, 2020USD ($)$ / sharesshares | Aug. 12, 2020$ / sharesshares | Jul. 01, 2020USD ($)$ / sharesshares | Apr. 01, 2020$ / sharesshares | Mar. 31, 2021USD ($)$ / shares | Mar. 31, 2020USD ($) | Dec. 31, 2020$ / shares | Nov. 01, 2020$ / shares | Oct. 05, 2018$ / sharesshares | Aug. 21, 2018USD ($)$ / sharesshares |
Warrants and Rights Outstanding, Reduction of Revenue During Period | $ | $ 8,985 | $ 8,985 | ||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 1.08 | $ 1.5779 | ||||||||||
Private Placement [Member] | ||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 1.67 | |||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,796,407 | |||||||||||
Proceeds from Issuance of Private Placement | $ | $ 3,000,000 | |||||||||||
Public Stock Offering [Member] | ||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 1.70 | |||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 4,705,883 | |||||||||||
Cash Fee for Per Share of Common (in dollars per share) | $ / shares | $ 0.12325 | |||||||||||
Proceeds from Issuance of Common Stock | $ | $ 7,400,000 | |||||||||||
Performance Shares [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 1,444,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 10 years | |||||||||||
Performance Shares [Member] | President and Chief Executive Officer [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 300,000 | |||||||||||
Performance Shares [Member] | Chief Financial Officer [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 200,000 | |||||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 103,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||||||
Restricted Stock Units (RSUs) [Member] | Director One [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 10,000 | |||||||||||
Restricted Stock Units (RSUs) [Member] | Director Two [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 30,000 | |||||||||||
Measurement Input, Risk Free Interest Rate [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0.0277 | |||||||||||
Measurement Input, Expected Term [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 5 | |||||||||||
Measurement Input, Expected Dividend Rate [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0 | |||||||||||
Measurement Input, Price Volatility [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0.646 | |||||||||||
Maximum [Member] | Public Stock Offering [Member] | ||||||||||||
Payments of Stock Issuance Costs | $ | $ 100,000 | |||||||||||
Common Stock Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 150,000 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 5.88 | $ 3.46 | ||||||||||
Warrants and Rights Outstanding | $ | $ 135,764 | |||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 19,795 | 27,051 | ||||||||||
Class of Warrant or Right, Number of Warrants Exercised (in shares) | 30,000 | 60,000 | ||||||||||
Common Stock Warrants, Tranche One [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 30,000 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.80 | |||||||||||
Common Stock Warrants, Tranche One [Member] | Measurement Input, Share Price [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0.94 | |||||||||||
Common Stock Warrants, Tranche Two through Five [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 120,000 | 120,000 | ||||||||||
Warrants and Rights Outstanding, Term (Year) | 4 years | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights, Maximum Percentage of Market Price of Common Stock | 120.00% | |||||||||||
Common Stock Warrants, Tranche Two through Five [Member] | Measurement Input, Share Price [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0.9 | |||||||||||
Common Stock Warrants, Tranche Two through Five [Member] | Maximum [Member] | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 2 | |||||||||||
Common Stock Warrants, Tranche Two [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 30,000 | |||||||||||
Warrants Issued to Acquire Information Management Solutions, LLC [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 945,599 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 4.23 | |||||||||||
Warrants and Rights Outstanding | $ | $ 552,283 | |||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 945,599 | |||||||||||
Class of Warrant or Right, Term Following Vesting (Year) | 5 years | |||||||||||
Warrants Issued to Acquire Information Management Solutions, LLC [Member] | Measurement Input, Share Price [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0.58 | |||||||||||
Warrants Issued to Acquire Information Management Solutions, LLC [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0.0009 | |||||||||||
Warrants Issued to Acquire Information Management Solutions, LLC [Member] | Measurement Input, Expected Term [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 5 | |||||||||||
Warrants Issued to Acquire Information Management Solutions, LLC [Member] | Measurement Input, Expected Dividend Rate [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0 | |||||||||||
Warrants Issued to Acquire Information Management Solutions, LLC [Member] | Measurement Input, Price Volatility [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0.599 |
Note 7 - Net (Loss) Per Share -
Note 7 - Net (Loss) Per Share - Earnings Per Share Reconciliation (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Numerator: | ||
Numerator for basic and diluted (loss) per share, net (loss) available to common shareholders | $ (720,252) | $ (835,009) |
Denominator: | ||
Denominator for basic (loss) per share, weighted average shares outstanding (in shares) | 19,931,935 | 13,127,229 |
Effect of dilutive securities (in shares) | ||
Denominator for diluted earnings per share, adjust weighted average shares and assumed conversion (in shares) | 19,931,935 | 13,127,229 |
Basic (loss) per common share (in dollars per share) | $ (0.04) | $ (0.06) |
Diluted (loss) per common share and common share equivalent (in dollars per share) | $ (0.04) | $ (0.06) |
Note 7 - Net (Loss) Per Share_2
Note 7 - Net (Loss) Per Share - Anti-dilutive Securities (Details) - shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Anti-dilutive awards and options (in shares) | 5,094,991 | 4,023,780 |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Deferred Tax Assets, Net of Valuation Allowance, Total | $ 1.4 | |
Deferred Tax Assets, Valuation Allowance, Total | $ 7.5 | |
Operating Loss Carryforwards, Total | $ 39.4 | |
Portion Subject to an IRS Section 382 Limitation [Member] | ||
Operating Loss Carryforwards, Total | $ 0.5 |
Note 9 - Related Party Transa_2
Note 9 - Related Party Transactions (Details Textual) - USD ($) | Jan. 06, 2021 | Nov. 01, 2020 | Apr. 01, 2020 | Jan. 06, 2020 | Mar. 31, 2021 | Dec. 31, 2020 |
Shares Issued, Price Per Share (in dollars per share) | $ 1.5779 | $ 1.08 | ||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total | $ 120,535 | |||||
Performance Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 1,444,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 10 years | |||||
Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 103,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||
Angry Pug Sportswear [Member] | ||||||
Related Party Transaction, Purchases from Related Party | $ 0 | $ 9,886 | ||||
Louis Hoch [Member] | ||||||
Ownership Percentage | 50.00% | |||||
Chief Financial Officer [Member] | ||||||
Treasury Stock, Shares, Acquired (in shares) | 11,860 | 11,860 | ||||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 3.25 | $ 1.74 | ||||
Chief Financial Officer [Member] | Performance Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 200,000 | |||||
President and Chief Executive Officer [Member] | Performance Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 300,000 | |||||
Director One [Member] | Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 10,000 | |||||
Director Two [Member] | Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 30,000 | |||||
Chief Executive Officer [Member] | ||||||
Treasury Stock, Shares, Acquired (in shares) | 54,756 | |||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 136,891 | |||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total | $ 216,000 |
Note 12 - Subsequent Events (De
Note 12 - Subsequent Events (Details Textual) - Chief Executive Officer [Member] - Subsequent Event [Member] - USD ($) | Apr. 18, 2021 | Apr. 17, 2021 |
Annual Base Salary | $ 566,000 | $ 350,000 |
Annual Bonus Cancelled | $ 216,000 |