Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2024 | Aug. 12, 2024 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001088034 | |
Entity Registrant Name | Usio, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2024 | |
Document Transition Report | false | |
Entity File Number | 000-30152 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 98-0190072 | |
Entity Address, Address Line One | 3611 Paesanos Parkway, Suite 300 | |
Entity Address, City or Town | San Antonio | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 78231 | |
City Area Code | 210 | |
Local Phone Number | 249-4100 | |
Title of 12(b) Security | Common stock, par value $0.001 per share | |
Trading Symbol | USIO | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 27,361,329 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Assets | ||
Cash and cash equivalents | $ 7,498,256 | $ 7,155,687 |
Accounts receivable, net | 5,494,539 | 5,564,138 |
Settlement processing assets | 51,122,984 | 44,899,603 |
Prepaid card load assets | 28,056,918 | 31,578,973 |
Customer deposits | 1,808,006 | 1,865,731 |
Inventory | 407,013 | 422,808 |
Prepaid expenses and other | 819,163 | 444,071 |
Current assets before merchant reserves | 95,206,879 | 91,931,011 |
Merchant reserves | 4,851,839 | 5,310,095 |
Total current assets | 100,058,718 | 97,241,106 |
Property and equipment, net | 3,427,109 | 3,660,092 |
Other assets: | ||
Intangibles, net | 1,317,370 | 1,753,333 |
Deferred tax asset, net | 1,504,000 | 1,504,000 |
Operating lease right-of-use assets | 2,184,415 | 2,420,782 |
Other assets | 340,285 | 355,357 |
Total other assets | 5,346,070 | 6,033,472 |
Total assets | 108,831,897 | 106,934,670 |
Current liabilities: | ||
Accounts payable | 968,217 | 1,031,141 |
Accrued expenses | 3,214,518 | 3,801,278 |
Operating lease liabilities, current portion | 442,668 | 633,616 |
Equipment loan, current portion | 192,206 | 107,270 |
Settlement processing obligations | 51,122,984 | 44,899,603 |
Prepaid card load obligations | 28,056,918 | 31,578,973 |
Customer deposits | 1,808,006 | 1,865,731 |
Current liabilities before merchant reserve obligations | 85,805,517 | 83,917,612 |
Merchant reserve obligations | 4,851,839 | 5,310,095 |
Total current liabilities | 90,657,356 | 89,227,707 |
Non-current liabilities: | ||
Equipment loan, net of current portion | 597,176 | 718,980 |
Operating lease liabilities, net of current portion | 1,863,147 | 1,919,144 |
Total liabilities | 93,117,679 | 91,865,831 |
Commitments and contingencies (Note 9) | ||
Stockholders’ equity: | ||
Preferred stock, $0.01 par value, 10,000,000 shares authorized; -0- shares outstanding at June 30, 2024 (unaudited) and December 31, 2023, respectively | 0 | 0 |
Common stock, $0.001 par value, 200,000,000 shares authorized; 29,764,435 and 28,671,606 issued, and 27,331,969 and 26,332,523 outstanding at June 30, 2024 (unaudited) and December 31, 2023, respectively | 198,179 | 197,087 |
Additional paid-in capital | 99,222,467 | 97,479,830 |
Treasury stock, at cost; 2,432,466 and 2,339,083 shares at June 30, 2024 (unaudited) and December 31, 2023, respectively | (4,511,919) | (4,362,150) |
Deferred compensation | (7,681,660) | (6,907,775) |
Accumulated deficit | (71,512,849) | (71,338,153) |
Total stockholders’ equity | 15,714,218 | 15,068,839 |
Total liabilities and stockholders’ equity | $ 108,831,897 | $ 106,934,670 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2024 | Dec. 31, 2023 |
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, issued (in shares) | 0 | 0 |
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) | 29,764,435 | 28,671,606 |
Common stock, outstanding (in shares) | 27,331,969 | 26,332,523 |
Treasury stock, shares (in shares) | 2,432,466 | 2,339,083 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Revenues | $ 20,079,888 | $ 21,436,572 | $ 41,050,274 | $ 42,952,842 |
Cost of services | 15,280,074 | 16,250,988 | 31,396,765 | 32,795,417 |
Gross profit | 4,799,814 | 5,185,584 | 9,653,509 | 10,157,425 |
Selling, general and administrative expenses: | ||||
Employee stock-based compensation | 460,061 | 577,869 | 959,334 | 1,082,443 |
Other SG&A | 4,000,845 | 3,854,022 | 8,061,070 | 7,727,241 |
Depreciation and amortization | 547,849 | 522,999 | 1,124,003 | 1,041,028 |
Total selling, general and administrative | 5,008,755 | 4,954,890 | 10,144,407 | 9,850,712 |
Operating income (loss) | (208,941) | 230,694 | (490,898) | 306,713 |
Other income and (expense): | ||||
Interest income | 107,270 | 43,978 | 222,624 | 66,880 |
Other income | 261,413 | 0 | 261,413 | 0 |
Interest expense | (14,250) | (533) | (27,835) | (1,195) |
Other income, net | 354,433 | 43,445 | 456,202 | 65,685 |
Income (loss) before income tax expense | 145,492 | 274,139 | (34,696) | 372,398 |
Income tax expense | 70,000 | 69,098 | 140,000 | 152,524 |
Net income (loss) | $ 75,492 | $ 205,041 | $ (174,696) | $ 219,874 |
Basic income (loss) per common share: (in dollars per share) | $ 0 | $ 0.01 | $ (0.01) | $ 0.01 |
Diluted income (loss) per common share: (in dollars per share) | $ 0 | $ 0.01 | $ (0.01) | $ 0.01 |
Weighted average common shares outstanding | ||||
Basic (in shares) | 26,534,407 | 26,413,329 | 26,454,848 | 26,410,340 |
Diluted (in shares) | 26,534,407 | 26,413,329 | 26,454,848 | 26,410,340 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Operating activities: | ||
Net income (loss) | $ (174,696) | $ 219,874 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
Depreciation | 688,039 | 605,095 |
Amortization | 435,964 | 435,933 |
Employee stock-based compensation | 959,334 | 1,082,443 |
Non-cash revenue from returned common stock | 0 | (156,162) |
Changes in current assets and current liabilities: | ||
Accounts receivable | 69,599 | (850,132) |
Prepaid expenses and other | (375,092) | (176,728) |
Operating lease right-of-use assets | 236,367 | 114,956 |
Other assets | 15,072 | 0 |
Inventory | 15,795 | 25,185 |
Accounts payable and accrued expenses | (649,684) | 136,401 |
Operating lease liabilities | (246,945) | (134,979) |
Prepaid card load obligations | (3,522,055) | 26,227,715 |
Merchant reserves | (458,256) | 231,539 |
Customer deposits | (57,725) | 9,070 |
Net cash provided by (used in) operating activities | (3,064,283) | 27,770,210 |
Investing activities: | ||
Purchases of property and equipment | (455,057) | (388,628) |
Net cash (used in) investing activities | (455,057) | (388,628) |
Financing activities: | ||
Payments on equipment loan | (36,868) | (28,215) |
Proceeds from issuance of common stock | 10,510 | 0 |
Purchases of treasury stock | (149,769) | (19,036) |
Net cash (used in) financing activities | (176,127) | (47,251) |
Change in cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves | (3,695,467) | 27,334,331 |
Cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves, beginning of period | 45,910,486 | 32,343,501 |
Cash, Cash Equivalents, Prepaid Card Load Assets, Customer Deposits and Merchant Reserves, End of Period | 42,215,019 | 59,677,832 |
Supplemental disclosure of cash flow information: | ||
Interest | 27,835 | 1,195 |
Income taxes | 0 | 312,158 |
Non-cash financing activity: | ||
Issuance of deferred stock compensation | 1,497,300 | 2,478,506 |
Employee Awards [Member] | ||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
Employee stock-based compensation | $ 959,334 | $ 1,082,443 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | Treasury Stock, Common [Member] | Deferred Compensation, Share-Based Payments [Member] | Retained Earnings [Member] | Total |
Balance | $ 195,471 | $ 94,048,603 | $ (3,749,027) | $ (5,697,900) | $ (70,863,049) | $ 13,934,098 |
Balance (in shares) at Dec. 31, 2022 | 27,044,900 | |||||
Balance at Dec. 31, 2022 | $ 195,471 | 94,048,603 | (3,749,027) | (5,697,900) | (70,863,049) | 13,934,098 |
Issuance of common stock under equity incentive plan (in shares) | 1,421,250 | |||||
Issuance of common stock under equity incentive plan | $ 1,421 | 2,638,529 | 0 | (2,444,054) | 0 | 195,896 |
Deferred compensation amortization | 0 | 0 | 0 | 308,676 | 0 | 308,676 |
Purchase of treasury stock costs | 0 | 0 | (8,529) | 0 | 0 | (8,529) |
Net income (loss) | $ 0 | 0 | 0 | 0 | 14,833 | 14,833 |
Balance (in shares) at Mar. 31, 2023 | 28,466,150 | |||||
Balance (in shares) at Dec. 31, 2022 | 27,044,900 | |||||
Balance at Dec. 31, 2022 | $ 195,471 | 94,048,603 | (3,749,027) | (5,697,900) | (70,863,049) | 13,934,098 |
Net income (loss) | 219,874 | |||||
Balance (in shares) at Jun. 30, 2023 | 28,462,606 | |||||
Balance | $ 196,892 | 96,687,132 | (3,757,556) | (7,833,278) | (70,848,216) | 14,444,974 |
Balance (in shares) at Mar. 31, 2023 | 28,466,150 | |||||
Balance at Mar. 31, 2023 | $ 196,892 | 96,687,132 | (3,757,556) | (7,833,278) | (70,848,216) | 14,444,974 |
Issuance of common stock under equity incentive plan (in shares) | 111,456 | |||||
Issuance of common stock under equity incentive plan | $ 111 | 354,199 | 0 | (34,452) | 0 | 319,858 |
Deferred compensation amortization | 0 | 0 | 0 | 343,123 | 0 | 343,123 |
Purchase of treasury stock costs | 0 | 0 | (10,507) | 0 | 0 | (10,507) |
Net income (loss) | $ 0 | 0 | 0 | 0 | 205,041 | 205,041 |
Reversal of deferred compensation amortization that did not vest (in shares) | (115,000) | |||||
Reversal of deferred compensation amortization that did not vest | $ (115) | (188,088) | 0 | 103,091 | 0 | (85,112) |
Non-cash return of common stock | $ 0 | 0 | (156,162) | 0 | 0 | (156,162) |
Balance (in shares) at Jun. 30, 2023 | 28,462,606 | |||||
Balance | $ 196,888 | 96,853,243 | (3,924,225) | (7,421,516) | (70,643,175) | 15,061,215 |
Balance | $ 197,087 | 97,479,830 | (4,362,150) | (6,907,775) | (71,338,153) | 15,068,839 |
Balance (in shares) at Dec. 31, 2023 | 28,671,606 | |||||
Balance at Dec. 31, 2023 | $ 197,087 | 97,479,830 | (4,362,150) | (6,907,775) | (71,338,153) | 15,068,839 |
Issuance of common stock under equity incentive plan (in shares) | 107,600 | |||||
Issuance of common stock under equity incentive plan | $ 107 | 153,118 | 0 | 0 | 0 | 153,225 |
Deferred compensation amortization | 346,047 | 346,047 | ||||
Purchase of treasury stock costs | 0 | 0 | (44,823) | 0 | 0 | (44,823) |
Net income (loss) | $ 0 | 0 | 0 | 0 | (250,188) | (250,188) |
Balance (in shares) at Mar. 31, 2024 | 28,779,206 | |||||
Balance (in shares) at Dec. 31, 2023 | 28,671,606 | |||||
Balance at Dec. 31, 2023 | $ 197,087 | 97,479,830 | (4,362,150) | (6,907,775) | (71,338,153) | 15,068,839 |
Net income (loss) | (174,696) | |||||
Balance (in shares) at Jun. 30, 2024 | 29,764,435 | |||||
Balance | $ 197,194 | 97,632,948 | (4,406,973) | (6,561,728) | (71,588,341) | 15,273,100 |
Balance (in shares) at Mar. 31, 2024 | 28,779,206 | |||||
Balance at Mar. 31, 2024 | $ 197,194 | 97,632,948 | (4,406,973) | (6,561,728) | (71,588,341) | 15,273,100 |
Issuance of common stock under equity incentive plan (in shares) | 994,049 | |||||
Issuance of common stock under equity incentive plan | $ 994 | 1,610,320 | 0 | (1,497,300) | 0 | 114,014 |
Deferred compensation amortization | 346,048 | 346,048 | ||||
Purchase of treasury stock costs | 0 | 0 | (104,946) | 0 | 0 | (104,946) |
Net income (loss) | $ 0 | 0 | 0 | 0 | 75,492 | 75,492 |
Issuance of common stock under employee stock purchase plan (in shares) | 6,180 | |||||
Issuance of common stock under employee stock purchase plan | $ 6 | 10,504 | 0 | 0 | 0 | 10,510 |
Reversal of deferred compensation amortization that did not vest (in shares) | (15,000) | |||||
Reversal of deferred compensation amortization that did not vest | $ (15) | (31,305) | 0 | 31,320 | 0 | 0 |
Balance (in shares) at Jun. 30, 2024 | 29,764,435 | |||||
Balance | $ 198,179 | $ 99,222,467 | $ (4,511,919) | $ (7,681,660) | $ (71,512,849) | $ 15,714,218 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2024 | |
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 (collectively, the “Company”) have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the "Commission" or the "SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles ("GAAP") have been omitted pursuant to such rules and regulations. In the opinion of management, the accompanying unaudited 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, 2023, March 27, 2024 ( "2023 not may three June 30, 2024 2023, may Use of Estimates: Revenue Recognition: 606 10 may may third 45 30 not The following table presents the Company's consolidated revenues by source: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 ACH and complementary services $ 3,894,330 $ 4,079,157 $ 7,776,064 $ 7,419,879 Credit card 7,261,268 7,115,884 14,822,002 14,455,782 Prepaid card services 3,673,418 5,217,468 7,014,642 10,024,872 Output Solutions 4,686,869 4,849,197 10,224,792 10,807,417 Interest - ACH and complementary services 190,233 40,361 401,873 43,306 Interest - Prepaid card services 334,624 125,058 737,365 186,018 Interest - Output Solutions 39,146 9,447 73,536 15,568 Total revenue $ 20,079,888 $ 21,436,572 $ 41,050,274 $ 42,952,842 Cash and Cash Equivalents: 90 Settlement Processing Assets and Obligations: Prepaid Card Load Assets and Obligations: Customer Deposits: not Merchant Reserves: may not 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Beginning cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves: Cash and cash equivalents $ 7,053,812 $ 6,763,813 $ 7,155,687 $ 5,709,117 Prepaid card load assets 28,698,878 18,812,954 31,578,973 20,170,761 Customer deposits 1,808,263 1,575,075 1,865,731 1,554,122 Merchant reserves 5,322,095 4,744,615 5,310,095 4,909,501 Total $ 42,883,048 $ 31,896,457 $ 45,910,486 $ 32,343,501 Ending cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves: Cash and cash equivalents $ 7,498,256 $ 6,575,124 $ 7,498,256 $ 6,575,124 Prepaid card load assets 28,056,918 46,398,476 28,056,918 46,398,476 Customer deposits 1,808,006 1,563,192 1,808,006 1,563,192 Merchant reserves 4,851,839 5,141,040 4,851,839 5,141,040 Total $ 42,215,019 $ 59,677,832 $ 42,215,019 $ 59,677,832 Accounts Receivable/Allowance for Estimated Credit Losses: 326 six June 30, 2024 December 31, 2023, no may June 30, 2024 December 31, 2023 Inventory June 30, 2024 December 31, 2023 Accounting for Internal Use Software: no six June 30, 2024 June 30, 2023 Valuation of Long-Lived and Intangible Assets: may not may not 2023 six June 30, 2024 not may Reserve for Processing Losses: one not may may June 30, 2024 December 31, 2023 Legal Proceedings: may may may Recently Adopted Accounting Pronouncements not not Reclassifications: no |
Note 2 - Leases
Note 2 - Leases | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 2. The Company leases facilities and office equipment under various operating leases, which generally are expected to be renewed or replaced by other leases. For each of the three June 30, 2024 2023 six June 30, 2024 2023 |
Note 3 - Accrued Expenses
Note 3 - Accrued Expenses | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | Note 3. Accrued expenses consisted of the following balances: June 30, 2024 December 31, 2023 Accrued commissions $ 1,092,870 $ 2,433,353 Reserve for processing losses 892,528 826,528 Other accrued expenses 713,415 246,444 Accrued taxes 145,906 294,953 Accrued salaries 369,799 — Total accrued expenses $ 3,214,518 $ 3,801,278 |
Note 4 - Equipment Loan
Note 4 - Equipment Loan | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 4. On March 20, 2021, March 20, 2024 three June 30, 2024 2023 six June 30, 2024 2023 On October 1, 2023 , April 5, 2029 first six three June 30, 2024 six June 30, 2024 |
Note 5 - Stockholders' Equity
Note 5 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-Based Payments [Text Block] | Note 5. Stock Warrants December 15, 2020, three three December 15, 2021 December 15, 2023. five 0.09%; 0%; 59.9%. three six June 30, 2024 2023 |
Note 6 - Net Income (Loss) Per
Note 6 - Net Income (Loss) Per Share | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 6. Basic income (loss) per share (EPS) was computed by dividing net income (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. Unvested restricted stock awards have the right to receive nonforfeitable dividends on the same basis as common shares; therefore, unvested restricted stock is considered a participating security for the purpose of calculating EPS. The following is a reconciliation of the numerators and the denominators of the basic and diluted per share computations for net income (loss) for the three six June 30, 2024 June 30, 2023 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Numerator for basic and diluted income (loss) per share, net income (loss) available to common shareholders $ 75,492 $ 205,041 $ (174,696 ) $ 219,874 Denominator: Denominator for basic income (loss) per share, weighted average shares outstanding 26,534,407 26,413,329 26,454,848 26,410,340 Effect of dilutive securities — — — — Denominator for diluted earnings per share, adjusted for weighted average shares and assumed conversion 26,534,407 26,413,329 26,454,848 26,410,340 Basic income (loss) per common share $ 0.00 $ 0.01 $ (0.01 ) $ 0.01 Diluted income (loss) per common share and common share equivalent $ 0.00 $ 0.01 $ (0.01 ) $ 0.01 The awards and options to purchase shares of common stock that were outstanding at June 30, 2024 June 30, 2023 not Six Months Ended June 30, 2024 2023 Anti-dilutive awards and options 945,599 945,599 |
Note 7 - Income Taxes
Note 7 - Income Taxes | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 7. 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. GAAP prescribes 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 $1.5 million recorded net of a valuation allowance of approximately $6.1 million. The Company reviews the assessment of the deferred tax asset and valuation allowance on an annual basis or more often when events indicate that a change to the valuation allowance may At December 31, 2023 2017 20 2017 not The schedule below outlines when the Company's net operating losses for 2017 may Tax Year End NOL Expiration 2005 $ 1,768,851 2025 2006 1,350,961 2026 2007 1,740,724 2027 2008 918,960 2028 2009 835,322 2029 2010 429,827 2030 2013 504,862 2033 2016 474,465 2036 2017 1,267,336 2037 Total $ 9,291,308 Management is not |
Note 8 - Related Party Transact
Note 8 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 8. Louis Hoch During the six June 30, 2024 June 30, 2023 Directors and Officers On June 21, 2024, 3 10 On June 21, 2024, On February 24, 2024, February 24, 2024 On February 24, 2024, February 24, 2024 On November 30, 2023, December 11, 2023, April 18, 2024. not April 18, 2024. On November 18, 2023, November 18, 2023 On November 18, 2023, November 18, 2023 Effective on February 17, 2023, $250,000, one On February 8, 2023, 3 10 On March 16, 2023, |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 9. Legal Proceedings. Ben Kauder, Nina Pioletti, & Triple Pay Play, Inc. In 2017, Ben Kauder and Nina Pioletti were executives of Singular and, after the acquisition, Usio hired them as executive-level employees. Usio hired Kauder to serve as Senior Vice President of Integrated Payments, and Pioletti was hired to serve as Director of Sales. As a condition of employment, Kauder and Pioletti agreed to be bound by certain Usio policies, including as related to preserving the confidentiality of Usio’s proprietary information. As Usio executives, Kauder and Pioletti were afforded access to and contributed to the development of Usio’s trade secrets and other proprietary information not not In May 2021, July 2022. On or about June 21, 2023, On July 6, 2023, February 2024, On May 3, 2024, August 5, 2024. not Greenwich Business Capital, LLC On or about September 25, 2019, October 31, 2023, 30 On November 13, 2023, March 2024, On May 20, 2024, not KDHM, LLC On September 1, 2021, 73rd December 14, 2020. On September 28, 2021, October 5, 2021, third not third 3.1 We also discovered that KDHM by and through its principals failed to disclose that $305,000 in additional customer deposits existed and that these deposits were not not not 2.1 x 2.1 not In our counterclaims and third On August 18, 2023, not not not On March 4, 2024, 166 March 19, 2024. On March 28, 2024, 166 May 2, 2024, July 12, 2024, We believe that plaintiff's claims contradict the express terms of the asset purchase agreement, and we intend to vigorously defend this matter. As a result of this post-sale dispute, we subsequently discovered that KDHM, LLC and its principals made certain misrepresentations and breached the terms of the asset purchase agreement. Other proceedings Aside from these proceedings, the Company may not no not |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended | 6 Months Ended |
Jun. 30, 2024 | Jun. 30, 2024 | |
Insider Trading Arr Line Items | ||
Material Terms of Trading Arrangement [Text Block] | 5. None | |
Rule 10b5-1 Arrangement Adopted [Flag] | false | |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false | |
Rule 10b5-1 Arrangement Terminated [Flag] | false | |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates: |
Revenue [Policy Text Block] | Revenue Recognition: 606 10 may may third 45 30 not The following table presents the Company's consolidated revenues by source: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 ACH and complementary services $ 3,894,330 $ 4,079,157 $ 7,776,064 $ 7,419,879 Credit card 7,261,268 7,115,884 14,822,002 14,455,782 Prepaid card services 3,673,418 5,217,468 7,014,642 10,024,872 Output Solutions 4,686,869 4,849,197 10,224,792 10,807,417 Interest - ACH and complementary services 190,233 40,361 401,873 43,306 Interest - Prepaid card services 334,624 125,058 737,365 186,018 Interest - Output Solutions 39,146 9,447 73,536 15,568 Total revenue $ 20,079,888 $ 21,436,572 $ 41,050,274 $ 42,952,842 |
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: |
Prepaid Card Load Assets, Policy [Policy Text Block] | Prepaid Card Load 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 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Beginning cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves: Cash and cash equivalents $ 7,053,812 $ 6,763,813 $ 7,155,687 $ 5,709,117 Prepaid card load assets 28,698,878 18,812,954 31,578,973 20,170,761 Customer deposits 1,808,263 1,575,075 1,865,731 1,554,122 Merchant reserves 5,322,095 4,744,615 5,310,095 4,909,501 Total $ 42,883,048 $ 31,896,457 $ 45,910,486 $ 32,343,501 Ending cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves: Cash and cash equivalents $ 7,498,256 $ 6,575,124 $ 7,498,256 $ 6,575,124 Prepaid card load assets 28,056,918 46,398,476 28,056,918 46,398,476 Customer deposits 1,808,006 1,563,192 1,808,006 1,563,192 Merchant reserves 4,851,839 5,141,040 4,851,839 5,141,040 Total $ 42,215,019 $ 59,677,832 $ 42,215,019 $ 59,677,832 |
Receivable [Policy Text Block] | Accounts Receivable/Allowance for Estimated Credit Losses: 326 six June 30, 2024 December 31, 2023, no may June 30, 2024 December 31, 2023 |
Inventory, Policy [Policy Text Block] | Inventory June 30, 2024 December 31, 2023 |
Internal Use Software, Policy [Policy Text Block] | Accounting for Internal Use Software: no six June 30, 2024 June 30, 2023 |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Valuation of Long-Lived and Intangible Assets: may not may not 2023 six June 30, 2024 not may |
Contingent Liability Reserve Estimate, Policy [Policy Text Block] | Reserve for Processing Losses: one not may may June 30, 2024 December 31, 2023 |
Legal Costs, Policy [Policy Text Block] | Legal Proceedings: may may may |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements not not |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications: no |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 ACH and complementary services $ 3,894,330 $ 4,079,157 $ 7,776,064 $ 7,419,879 Credit card 7,261,268 7,115,884 14,822,002 14,455,782 Prepaid card services 3,673,418 5,217,468 7,014,642 10,024,872 Output Solutions 4,686,869 4,849,197 10,224,792 10,807,417 Interest - ACH and complementary services 190,233 40,361 401,873 43,306 Interest - Prepaid card services 334,624 125,058 737,365 186,018 Interest - Output Solutions 39,146 9,447 73,536 15,568 Total revenue $ 20,079,888 $ 21,436,572 $ 41,050,274 $ 42,952,842 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Beginning cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves: Cash and cash equivalents $ 7,053,812 $ 6,763,813 $ 7,155,687 $ 5,709,117 Prepaid card load assets 28,698,878 18,812,954 31,578,973 20,170,761 Customer deposits 1,808,263 1,575,075 1,865,731 1,554,122 Merchant reserves 5,322,095 4,744,615 5,310,095 4,909,501 Total $ 42,883,048 $ 31,896,457 $ 45,910,486 $ 32,343,501 Ending cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves: Cash and cash equivalents $ 7,498,256 $ 6,575,124 $ 7,498,256 $ 6,575,124 Prepaid card load assets 28,056,918 46,398,476 28,056,918 46,398,476 Customer deposits 1,808,006 1,563,192 1,808,006 1,563,192 Merchant reserves 4,851,839 5,141,040 4,851,839 5,141,040 Total $ 42,215,019 $ 59,677,832 $ 42,215,019 $ 59,677,832 |
Note 3 - Accrued Expenses (Tabl
Note 3 - Accrued Expenses (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | June 30, 2024 December 31, 2023 Accrued commissions $ 1,092,870 $ 2,433,353 Reserve for processing losses 892,528 826,528 Other accrued expenses 713,415 246,444 Accrued taxes 145,906 294,953 Accrued salaries 369,799 — Total accrued expenses $ 3,214,518 $ 3,801,278 |
Note 6 - Net Income (Loss) Pe_2
Note 6 - Net Income (Loss) Per Share (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Numerator for basic and diluted income (loss) per share, net income (loss) available to common shareholders $ 75,492 $ 205,041 $ (174,696 ) $ 219,874 Denominator: Denominator for basic income (loss) per share, weighted average shares outstanding 26,534,407 26,413,329 26,454,848 26,410,340 Effect of dilutive securities — — — — Denominator for diluted earnings per share, adjusted for weighted average shares and assumed conversion 26,534,407 26,413,329 26,454,848 26,410,340 Basic income (loss) per common share $ 0.00 $ 0.01 $ (0.01 ) $ 0.01 Diluted income (loss) per common share and common share equivalent $ 0.00 $ 0.01 $ (0.01 ) $ 0.01 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Six Months Ended June 30, 2024 2023 Anti-dilutive awards and options 945,599 945,599 |
Note 7 - Income Taxes (Tables)
Note 7 - Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Summary of Operating Loss Carryforwards [Table Text Block] | Tax Year End NOL Expiration 2005 $ 1,768,851 2025 2006 1,350,961 2026 2007 1,740,724 2027 2008 918,960 2028 2009 835,322 2029 2010 429,827 2030 2013 504,862 2033 2016 474,465 2036 2017 1,267,336 2037 Total $ 9,291,308 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Accounts Receivable, Allowance for Credit Loss, Current | $ 319,000 | $ 319,000 | |
Capitalized Computer Software, Additions | 353,316 | $ 378,197 | |
Asset Impairment Charges | 0 | 0 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | $ 892,528 | $ 826,528 |
Note 1 - Basis of Presentatio_3
Note 1 - Basis of Presentation - Schedule of Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Revenues | $ 20,079,888 | $ 21,436,572 | $ 41,050,274 | $ 42,952,842 |
ACH and Complementary Service Revenue [Member] | ||||
Revenues | 3,894,330 | 4,079,157 | 7,776,064 | 7,419,879 |
Credit Card Revenue [Member] | ||||
Revenues | 7,261,268 | 7,115,884 | 14,822,002 | 14,455,782 |
Prepaid Card Services Revenue [Member] | ||||
Revenues | 3,673,418 | 5,217,468 | 7,014,642 | 10,024,872 |
Output Solutions [Member] | ||||
Revenues | 4,686,869 | 4,849,197 | 10,224,792 | 10,807,417 |
ACH and Complementary Service Interest Revenue [Member] | ||||
Revenues | 190,233 | 40,361 | 401,873 | 43,306 |
Prepaid Card Services Interest Revenue [Member] | ||||
Revenues | 334,624 | 125,058 | 737,365 | 186,018 |
Output Solutions Interest [Member] | ||||
Revenues | $ 39,146 | $ 9,447 | $ 73,536 | $ 15,568 |
Note 1 - Basis of Presentatio_4
Note 1 - Basis of Presentation - Summary of Deferred Revenue (Details) - USD ($) | Jun. 30, 2024 | Apr. 01, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Mar. 31, 2023 |
Cash and cash equivalents | $ 7,498,256 | $ 7,053,812 | $ 7,155,687 | $ 6,575,124 | $ 6,763,813 | $ 5,709,117 |
Prepaid card load assets | 28,056,918 | 28,698,878 | 31,578,973 | 46,398,476 | 18,812,954 | 20,170,761 |
Customer deposits | 1,808,006 | 1,808,263 | 1,865,731 | 1,563,192 | 1,575,075 | 1,554,122 |
Merchant reserves | 4,851,839 | 5,322,095 | 5,310,095 | 5,141,040 | 4,744,615 | 4,909,501 |
Cash, cash equivalents, prepaid card load assets, customer deposits and merchant reserves, beginning of period | 42,215,019 | 42,883,048 | 45,910,486 | 59,677,832 | 31,896,457 | 32,343,501 |
Cash and cash equivalents | 7,498,256 | 7,498,256 | 7,053,812 | 7,155,687 | 6,575,124 | 6,763,813 |
Prepaid card load assets | 28,056,918 | 28,056,918 | 28,698,878 | 31,578,973 | 46,398,476 | 18,812,954 |
Customer deposits | 1,808,006 | 1,808,006 | 1,808,263 | 1,865,731 | 1,563,192 | 1,575,075 |
Merchant reserves | 4,851,839 | 4,851,839 | 5,322,095 | 5,310,095 | 5,141,040 | 4,744,615 |
Cash, Cash Equivalents, Prepaid Card Load Assets, Customer Deposits and Merchant Reserves, End of Period | $ 42,215,019 | $ 42,215,019 | $ 42,883,048 | $ 45,910,486 | $ 59,677,832 | $ 31,896,457 |
Note 2 - Leases (Details Textua
Note 2 - Leases (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Operating Lease, Expense | $ 133,973 | $ 146,415 | $ 266,105 | $ 257,038 |
Note 3 - Accrued Expenses - Sum
Note 3 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Accrued commissions | $ 1,092,870 | $ 2,433,353 |
Reserve for processing losses | 892,528 | 826,528 |
Other accrued expenses | 713,415 | 246,444 |
Accrued taxes | 145,906 | 294,953 |
Accrued salaries | 369,799 | 0 |
Total accrued expenses | $ 3,214,518 | $ 3,801,278 |
Note 4 - Equipment Loan (Detail
Note 4 - Equipment Loan (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Oct. 01, 2023 | Mar. 20, 2021 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Repayments of Long-Term Debt | $ 36,868 | $ 28,215 | ||||
Debit Arrangement to Finance Purchase of Output Solutions Sorter [Member] | ||||||
Debt Instrument, Face Amount | $ 165,996 | |||||
Debt Instrument, Term (Month) | 36 months | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.95% | |||||
Debt Instrument, Periodic Payment | $ 4,902 | |||||
Repayments of Long-Term Debt | $ 0 | $ 14,171 | 14,312 | $ 27,659 | ||
Debit Arrangement to Finance Purchase of Output Solutions Folder and Inserter [Member] | ||||||
Debt Instrument, Face Amount | $ 811,819 | |||||
Debt Instrument, Term (Month) | 66 months | |||||
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | |||||
Debt Instrument, Periodic Payment | $ 16,017 | |||||
Repayments of Long-Term Debt | $ 36,687 | $ 50,168 |
Note 5 - Stockholders' Equity (
Note 5 - Stockholders' Equity (Details Textual) - Warrants Issued to Acquire Information Management Solutions, LLC [Member] | 3 Months Ended | 6 Months Ended | |
Dec. 15, 2020 USD ($) $ / shares shares | Jun. 30, 2024 USD ($) | Jun. 30, 2023 USD ($) | |
Class of Warrant or Right, Issued During Period (in shares) | shares | 945,599 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 4.23 | ||
Class of Warrant or Right, Vesting Period (Year) | 3 years | ||
Class of Warrant or Right, Term Following Vesting (Year) | 5 years | ||
Warrants and Rights Outstanding | $ 552,283 | ||
Fair Value Adjustment of Warrants | $ 27,615 | $ 55,228 | |
Measurement Input, Share Price [Member] | |||
Warrants and Rights Outstanding, Measurement Input | 0.58 | ||
Measurement Input, Risk Free Interest Rate [Member] | |||
Warrants and Rights Outstanding, Measurement Input | 0.0009 | ||
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 | 0.599 |
Note 6 - Net Income (Loss) Pe_3
Note 6 - Net Income (Loss) Per Share - Earnings Per Share Reconciliation (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Numerator for basic and diluted income (loss) per share, net income (loss) available to common shareholders | $ 75,492 | $ 205,041 | $ (174,696) | $ 219,874 |
Denominator: | ||||
Basic (in shares) | 26,534,407 | 26,413,329 | 26,454,848 | 26,410,340 |
Effect of dilutive securities (in shares) | 0 | 0 | 0 | 0 |
Diluted (in shares) | 26,534,407 | 26,413,329 | 26,454,848 | 26,410,340 |
Basic income (loss) per common share: (in dollars per share) | $ 0 | $ 0.01 | $ (0.01) | $ 0.01 |
Diluted income (loss) per common share: (in dollars per share) | $ 0 | $ 0.01 | $ (0.01) | $ 0.01 |
Note 6 - Net Income (Loss) Pe_4
Note 6 - Net Income (Loss) Per Share - Anti-dilutive Securities (Details) - shares | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Anti-dilutive awards and options (in shares) | 945,599 | 945,599 |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Deferred Tax Assets, Net of Valuation Allowance | $ 1.5 | |
Deferred Tax Assets, Valuation Allowance | $ 6.1 | |
Tax Year 2023 [Member] | ||
Operating Loss Carryforwards | $ 23.3 |
Note 7 - Income Taxes - Schedul
Note 7 - Income Taxes - Schedule of Net Operating Losses (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||||||||
Jan. 01, 2005 | Jun. 30, 2024 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2013 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2006 | |
NOL | $ 1,768,851 | $ 9,291,308 | $ 1,267,336 | $ 474,465 | $ 504,862 | $ 429,827 | $ 835,322 | $ 918,960 | $ 1,740,724 | $ 1,350,961 |
Note 8 - Related Party Transa_2
Note 8 - Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||||||
Jun. 21, 2024 | Feb. 24, 2024 | Nov. 18, 2023 | Mar. 16, 2023 | Feb. 17, 2023 | Feb. 08, 2023 | Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Shares Issued, Price Per Share (in dollars per share) | $ 1.55 | $ 1.6 | $ 1.75 | |||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 104,946 | $ 44,823 | $ 10,507 | $ 8,529 | ||||||||
Restricted Stock [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 966,000 | 1,403,000 | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 10 years | 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) | 277,200 | 69,000 | 273,000 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 10 years | 3 years | 10 years | |||||||||
Restricted Stock Units (RSUs) [Member] | Employees and Directors [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | 3 years | ||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.55 | |||||||||||
Angry Pug Sportswear [Member] | ||||||||||||
Related Party Transaction, Purchases from Related Party | $ 4,402 | $ 18,148 | ||||||||||
Louis Hoch [Member] | Angry Pug Sportswear [Member] | ||||||||||||
Ownership Percentage | 50% | |||||||||||
Chief Executive Officer [Member] | Restricted Stock [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 160,000 | 330,000 | ||||||||||
Chief Executive Officer [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) | 21,000 | 33,000 | ||||||||||
Chief Accounting Officer [Member] | Restricted Stock [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 120,000 | |||||||||||
Chief Accounting Officer [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) | 18,000 | |||||||||||
Director One [Member] | Restricted Stock [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 80,000 | 100,000 | ||||||||||
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) | 18,000 | 12,000 | ||||||||||
Director Two [Member] | Restricted Stock [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 40,000 | 100,000 | ||||||||||
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) | 12,000 | 12,000 | ||||||||||
Non Employee Directors [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) | 84,000 | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | |||||||||||
Director Three [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) | 21,000 | 21,000 | ||||||||||
Director Four [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) | 21,000 | 21,000 | ||||||||||
Director Five [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) | 21,000 | 21,000 | ||||||||||
Director Six [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) | 21,000 | 6,000 | ||||||||||
Chief Financial Officer [Member] | ||||||||||||
Treasury Stock, Shares, Acquired (in shares) | 2,075 | 2,619 | ||||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 3,258 | $ 4,452 | ||||||||||
Shares Acquired, Average Cost Per Share (in dollars per share) | $ 1.57 | $ 1.7 | ||||||||||
Chief Financial Officer [Member] | Restricted Stock [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 200,000 | |||||||||||
Chief Financial Officer [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) | 21,000 | |||||||||||
Chairman, President, Chief Executive Officer and Chief Operating Officer [Member] | ||||||||||||
Treasury Stock, Shares, Acquired (in shares) | 4,911 | 3,927 | ||||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 7,710 | $ 6,675 | ||||||||||
Shares Acquired, Average Cost Per Share (in dollars per share) | $ 1.57 | $ 1.7 | ||||||||||
Executive Vice President [Member] | ||||||||||||
Annual Base Salary | $ 250,000 | |||||||||||
Employment Agreement, Commissions Percentage | 10% | |||||||||||
Payment of One-time Signing Bonus | $ 40,000 |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Details Textual) | Sep. 28, 2021 USD ($) |
Claim By KDHM, LLC Against Usio Output Solutions, Inc. [Member] | |
Loss Contingency, Damages Sought, Value | $ 317,000 |
Counterclaim By Usio Output Solutions, Inc. Against KDHM, LLC [Member] | |
Amount Failed to Disclose As Required | $ 305,000 |