George Risk Industries (RSKIA) 10-Q 15 Dec 20 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Oct. 31, 2020	Dec. 15, 2020
Cover [Abstract]
Entity Registrant Name	GEORGE RISK INDUSTRIES, INC.
Entity Central Index Key	0000084112
Document Type	10-Q
Document Period End Date	Oct. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--04-30
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,948,302
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Oct. 31, 2020	Apr. 30, 2020
Current Assets:
Cash and cash equivalents	$ 5,855,000	$ 6,458,000
Investments and securities	27,666,000	25,322,000
Accounts receivable:
Trade, net of $1,014 and $7,306 doubtful account allowance	2,938,000	2,964,000
Other	29,000	18,000
Income tax overpayment		56,000
Inventories, net	5,731,000	5,103,000
Prepaid expenses	438,000	516,000
Total Current Assets	42,657,000	40,437,000
Property and Equipment, net, at cost	1,699,000	1,465,000
Other Assets
Investment in Limited Land Partnership, at cost	320,000	320,000
Projects in process	25,000	21,000
Other	2,000	2,000
Total Other Assets	347,000	343,000
Intangible Assets, net	1,455,000	1,517,000
TOTAL ASSETS	46,158,000	43,762,000
Current Liabilities
Accounts payable, trade	215,000	187,000
Dividends payable	2,081,000	1,892,000
Accrued expenses:
Payroll and other expense	346,000	450,000
Income tax payable	321,000
Notes payable	950,000	950,000
Total Current Liabilities	3,913,000	3,479,000
Long-Term Liabilities
Deferred income taxes	1,298,000	699,000
Total Long-Term Liabilities	1,298,000	699,000
Total Liabilities	5,211,000	4,178,000
Commitments and Contingencies
Stockholders' Equity
Convertible preferred stock, 1,000,000 shares authorized, Series 1-noncumulative, $20 stated value, 25,000 shares authorized, 4,100 issued and outstanding	99,000	99,000
Common stock, Class A, $.10 par value, 10,000,000 shares authorized, 8,502,881 shares issued and outstanding	850,000	850,000
Additional paid-in capital	1,934,000	1,934,000
Accumulated other comprehensive income	87,000	(4,000)
Retained earnings	42,279,000	41,006,000
Less: treasury stock, 3,553,029 and 3,552,954 shares, at cost	(4,302,000)	(4,301,000)
Total Stockholders' Equity	40,947,000	39,584,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 46,158,000	$ 43,762,000

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - USD ($)	Oct. 31, 2020	Apr. 30, 2020
Allowance for doubtful account receivable	$ 1,014	$ 7,306
Convertible preferred stock, shares authorized	1,000,000	1,000,000
Class A Common stock, par value	$ 0.10	$ 0.10
Class A Common stock, shares authorized	10,000,000	10,000,000
Class A Common stock, shares issued	8,502,881	8,502,881
Class A Common stock, shares outstanding	8,502,881	8,502,881
Treasury stock, shares	3,553,029	3,552,954
Series 1 Noncumulative Preferred Stock [Member]
Convertible preferred stock, shares authorized	25,000	25,000
Convertible preferred stock, stated value	$ 20	$ 20
Convertible preferred stock, shares issued	4,100	4,100
Convertible preferred stock, shares outstanding	4,100	4,100

Condensed Income Statements (Un

Condensed Income Statements (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Income Statement [Abstract]
Net Sales	$ 4,647,000	$ 3,710,000	$ 8,694,000	$ 7,263,000
Less: Cost of Goods Sold	(2,294,000)	(1,860,000)	(4,245,000)	(3,630,000)
Gross Profit	2,353,000	1,850,000	4,449,000	3,633,000
Operating Expenses
General and Administrative	364,000	329,000	678,000	626,000
Sales	604,000	555,000	1,171,000	1,112,000
Engineering	21,000	17,000	50,000	32,000
Rent Paid to Related Parties		3,000		8,000
Total Operating Expenses	989,000	904,000	1,899,000	1,778,000
Income From Operations	1,364,000	946,000	2,550,000	1,855,000
Other Income (Expense)
Other	44,000	1,000	56,000	2,000
Dividend and Interest Income	134,000	166,000	290,000	359,000
Unrealized Gain (Loss) on Equity Securities	(115,000)	129,000	1,999,000	274,000
Gain on Investments	72,000	10,000	44,000	59,000
Gain on Sale of Assets	4,000		4,000
Total Other Income	139,000	306,000	2,393,000	694,000
Income Before Provisions for Income Taxes	1,503,000	1,252,000	4,943,000	2,549,000
Provisions for Income Taxes:
Current Expense	682,000	258,000	1,032,000	552,000
Deferred Tax (Benefit) Expense	(39,000)	37,000	559,000	65,000
Total Income Tax Expense	643,000	295,000	1,591,000	617,000
Net Income	$ 860,000	$ 957,000	$ 3,352,000	$ 1,932,000
Income Per Share of Common Stock : Basic	$ 0.17	$ 0.19	$ 0.68	$ 0.39
Income Per Share of Common Stock : Diluted	$ 0.17	$ 0.19	$ 0.67	$ 0.39
Weighted Average Number of Common Shares Outstanding : Basic	4,949,902	4,952,110	4,949,914	4,954,250
Weighted Average Number of Common Shares Outstanding : Diluted	4,970,402	4,972,610	4,970,414	4,974,750

Condensed Statements of Compreh

Condensed Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 860,000	$ 957,000	$ 3,352,000	$ 1,932,000
Unrealized gain (loss) on debt securities:
Unrealized holding gains (losses) arising during period	(20,000)	1,000	130,000	50,000
Income tax benefit (expense) related to other comprehensive income	6,000		(39,000)	(14,000)
Other Comprehensive Income (Loss)	(14,000)	1,000	91,000	36,000
Comprehensive Income	$ 846,000	$ 958,000	$ 3,443,000	$ 1,968,000

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock Class A [Member]	Paid-In Capital [Member]	Treasury Stock (Common Class A) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Total
Beginning balance at Apr. 30, 2019	$ 99,000	$ 850,000	$ 1,934,000	$ (4,227,000)	$ 14,000	$ 40,883,000	$ 39,553,000
Beginning balance, shares at Apr. 30, 2019	4,100	8,502,881		3,544,271
Purchases of common stock				$ (54,000)			(54,000)
Purchases of common stock, shares				6,500
Dividend declared at common share outstanding						(1,981,000)	(1,981,000)
Unrealized gain (loss), net of tax effect					36,000		36,000
Net Income						1,932,000	1,932,000
Ending balance at Oct. 31, 2019	$ 99,000	$ 850,000	1,934,000	$ (4,281,000)	50,000	40,834,000	39,486,000
Ending balance, shares at Oct. 31, 2019	4,100	8,502,881		3,550,771
Beginning balance at Jul. 31, 2019	$ 99,000	$ 850,000	1,934,000	$ (4,280,000)	49,000	41,859,000	40,511,000
Beginning balance, shares at Jul. 31, 2019	4,100	8,502,881		3,550,571
Purchases of common stock				$ (1,000)			(1,000)
Purchases of common stock, shares				200
Dividend declared at common share outstanding						(1,982,000)	(1,982,000)
Unrealized gain (loss), net of tax effect					1,000		1,000
Net Income						957,000	957,000
Ending balance at Oct. 31, 2019	$ 99,000	$ 850,000	1,934,000	$ (4,281,000)	50,000	40,834,000	39,486,000
Ending balance, shares at Oct. 31, 2019	4,100	8,502,881		3,550,771
Beginning balance at Apr. 30, 2020	$ 99,000	$ 850,000	1,934,000	$ (4,301,000)	(4,000)	41,006,000	39,584,000
Beginning balance, shares at Apr. 30, 2020	4,100	8,502,881		3,552,954
Purchases of common stock				$ (1,000)			$ (1,000)
Purchases of common stock, shares				75
Dividend declared at common share outstanding						$ (2,079,000)	$ (2,079,000)
Unrealized gain (loss), net of tax effect					$ 91,000		91,000
Net Income						3,352,000	3,352,000
Ending balance at Oct. 31, 2020	$ 99,000	$ 850,000	1,934,000	$ (4,302,000)	87,000	42,279,000	40,947,000
Ending balance, shares at Oct. 31, 2020	4,100	8,502,881		3,553,029
Beginning balance at Jul. 31, 2020	$ 99,000	$ 850,000	1,934,000	$ (4,301,000)	101,000	43,498,000	42,181,000
Beginning balance, shares at Jul. 31, 2020	4,100	8,502,881		3,552,954
Purchases of common stock				$ (1,000)			(1,000)
Purchases of common stock, shares				75
Dividend declared at common share outstanding						(2,079,000)	(2,079,000)
Unrealized gain (loss), net of tax effect					(14,000)		(14,000)
Net Income						860,000	860,000
Ending balance at Oct. 31, 2020	$ 99,000	$ 850,000	$ 1,934,000	$ (4,302,000)	$ 87,000	$ 42,279,000	$ 40,947,000
Ending balance, shares at Oct. 31, 2020	4,100	8,502,881		3,553,029

Statements of Stockholders' E_2

Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividend declared for per common share outstanding	$ 0.42	$ 0.40	$ 0.42	$ 0.40

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 3,352,000	$ 1,932,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	189,000	183,000
(Gain) loss on sale of investments	(123,000)	(100,000)
Impairments on investments	79,000	41,000
Unrealized (gain) loss on equity securities	(1,999,000)	(274,000)
Reserve for bad debts	(6,000)	(6,000)
Reserve for obsolete inventory	10,000	2,000
Deferred income taxes	559,000	65,000
(Gain) loss on sale of assets	(4,000)
(Increase) decrease in:
Accounts receivable	32,000	486,000
Inventories	(637,000)	(583,000)
Prepaid expenses and projects in process	73,000	271,000
Other receivables	(10,000)	5,000
Income tax overpayment		114,000
Increase (decrease) in:
Accounts payable	28,000	(36,000)
Accrued expenses	(104,000)	11,000
Income tax payable	376,000
Net cash from operating activities	1,815,000	2,111,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of assets	4,000
(Purchase) of property and equipment	(361,000)	(179,000)
Proceeds from sale of marketable securities	16,000	540,000
(Purchase) of marketable securities	(186,000)	(250,000)
(Purchase) of long-term investment		(27,000)
Net cash from investing activities	(527,000)	84,000
CASH FLOWS FROM FINANCING ACTIVITIES:
(Purchase) of treasury stock	(1,000)	(54,000)
Dividends paid	(1,890,000)	(1,802,000)
Net cash from financing activities	(1,891,000)	(1,856,000)
NET CHANGE IN CASH AND CASH EQUIVALENTS	(603,000)	339,000
Cash and Cash Equivalents, beginning of period	6,458,000	4,873,000
Cash and Cash Equivalents, end of period	5,855,000	5,212,000
Supplemental Disclosure for Cash Flow Information:
Income taxes	650,000	605,000
Interest paid
Cash receipts for:
Income taxes		$ 159,000

Unaudited Interim Financial Sta

Unaudited Interim Financial Statements	6 Months Ended
	Oct. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unaudited Interim Financial Statements	Note 1 Unaudited Interim Financial Statements The accompanying financial statements have been prepared in accordance with the instructions for Form 10-Q and do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s April 30, 2020 annual report on Form 10-K. In the opinion of management, all adjustments, consisting only of normal recurring adjustments considered necessary for a fair presentation, have been included. Operating results for any quarter are not necessarily indicative of the results for any other quarter or for the full year. Accounting Estimates Recently Issued Accounting Pronouncements — Financial Instruments – Credit Losses Measurement of Credit Losses on Financial Instruments In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement - Disclosure Framework (Topic 820). The updated guidance improves the disclosure requirements on fair value measurements. The updated guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for any removed or modified disclosures. We applied this guidance, as of May 1, 2020. The application of this guidance did not have a material effect on our disclosures. In January 2020, the FASB issued ASU 2020-01, “Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) - Clarifying the Interactions between Topic 321, Topic 323, and Topic 815.” The ASU is based on a consensus of the Emerging Issues Task Force and is expected to increase comparability in accounting for these transactions. ASU 2016-01 made targeted improvements to accounting for financial instruments, including providing an entity the ability to measure certain equity securities without a readily determinable fair value at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Among other topics, the amendments clarify that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting. For public business entities, the amendments in the ASU are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. The Company does not expect the adoption of ASU 2020-01 to have a material impact on its financial statements. There are no other new accounting pronouncements that are expected to have a significant impact on our financial statements.

Investments

Investments	6 Months Ended
	Oct. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Investments	Note 2 Investments The Company has investments in publicly traded equity securities, state and municipal debt securities, real estate investment trusts, and money markets. The investments in debt securities, which include municipal bonds and bond funds, mature between April 2021 and January 2044. The Company uses the average cost method to determine the cost of equity securities sold with any unrealized gains or losses reported in the respective period’s earnings. Unrealized gains and losses on debt securities are excluded from earnings and reported separately as a component of stockholder’s equity. Dividend and interest income are reported as earned. As of October 31, 2020 and April 30, 2020, investments consisted of the following: Gross Gross Investments at Cost Unrealized Unrealized Fair October 31, 2020 Basis Gains Losses Value Municipal bonds $ 5,308,000 $ 163,000 $ (41,000 ) $ 5,430,000 REITs 112,000 — (41,000 ) 71,000 Equity securities 17,326,000 4,946,000 (684,000 ) 21,588,000 Money markets and CDs 577,000 — — 577,000 Total $ 23,323,000 $ 5,109,000 $ (766,000 ) $ 27,666,000 Gross Gross Investments at Cost Unrealized Unrealized Fair April 30, 2020 Basis Gains Losses Value Municipal bonds $ 5,271,000 $ 80,000 $ (89,000 ) $ 5,262,000 Corporate bonds 26,000 — — 26,000 REITs 112,000 — (44,000 ) 68,000 Equity securities 17,119,000 3,446,000 (1,180,000 ) 19,385,000 Money markets and CDs 581,000 — — 581,000 Total $ 23,109,000 $ 3,526,000 $ (1,313,000 ) $ 25,322,000 Marketable securities that are classified as equity securities are carried at fair value on the balance sheets with changes in fair value recorded as an unrealized gain or (loss) in the statements of income in the period of the change. Upon the disposition of a marketable security, the Company records a realized gain or (loss) on the Company’s statements of income. The Company evaluates all marketable securities for other-than-temporary declines in fair value, which are defined as when the cost basis exceeds the fair value for approximately one year. The Company also evaluates the nature of the investment, cause of impairment and number of investments that are in an unrealized position. When an “other-than-temporary” decline is identified, the Company will decrease the cost of the marketable security to the new fair value and recognize a real loss. The investments are periodically evaluated to determine if impairment changes are required. As a result of this standard, management recorded an impairment loss of $52,000 for the quarter, and recorded a loss of $79,000 for the six months ended October 31, 2020. As for the corresponding periods last year, management recorded an impairment loss of $7,000 for the quarter ended October 31, 2019 and an impairment loss of $41,000 was recorded for the six-months ended October 31, 2019. The Company’s investments are actively traded in the stock and bond markets. Therefore, either a realized gain or loss is recorded when a sale happens. For the quarter ended October 31, 2020 the Company had sales of equity securities which yielded gross realized gains of $184,000 and gross realized losses of $110,000. For the same period, sales of debt securities did not yield any gross realized gains, but gross realized losses of $2,000 were recorded. As for the six-months ended October 31, 2020 the Company had sales of equity securities which yielded gross realized gains of $286,000 and gross realized losses of $236,000. For the same six-month period, sales of debt securities did not yield any gross realized gains, but gross realized losses of $6,000 were recorded. During the quarter ending October 31, 2019, the Company recorded gross realized gains and losses on equity securities of $67,000 and $57,000, respectively, while sales of debt securities did not yield any gross realized gains or losses. During the six-months ending October 31, 2019, the Company recorded gross realized gains and losses on equity securities of $220,000 and $161,000, respectively, as well as gross realized gains and losses on debt securities of $3,000 and $3,000, respectively. The gross realized loss numbers include the impaired figures listed in the previous paragraph. The following table shows the investments with unrealized losses that are not deemed to be “other-than-temporarily impaired”, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at October 31, 2020 and April 30, 2020, respectively. Unrealized Loss Breakdown by Investment Type at October 31, 2020 Less than 12 months 12 months or greater Total Description Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $ 93,000 $ (1,000 ) $ 333,000 $ (40,000 ) $ 426,000 $ (41,000 ) REITs 28,000 (17,000 ) 43,000 (24,000 ) 71,000 (41,000 ) Equity securities 4,218,000 (569,000 ) 1,747,000 (115,000 ) 5,965,000 (684,000 ) Total $ 4,339,000 $ (587,000 ) $ 2,123,000 $ (179,000 ) $ 6,462,000 $ (766,000 ) Unrealized Loss Breakdown by Investment Type at April 30, 2020 Less than 12 months 12 months or greater Total Description Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $ 2,203,000 $ (42,000 ) $ 484,000 $ (47,000 ) $ 2,687,000 $ (89,000 ) REITs 43,000 (30,000 ) 24,000 (14,000 ) 67,000 (44000 ) Equity securities 5,496,000 (866,000 ) 1,651,000 (314,000 ) 7,147,000 (1,180,000 ) Total $ 7,742,000 $ (938,000 ) $ 2,159,000 $ (375,000 ) $ 9,901,000 $ (1,313,000 ) Municipal Bonds The unrealized losses on the Company’s investments in municipal bonds were caused by interest rate increases. The contractual terms of these investments do not permit the issuer to settle the securities at a price less than the amortized cost of the investment. Because the Company has the ability to hold these investments until a recovery of fair value, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at October 31, 2020. Marketable Equity Securities and REITs The Company’s investments in marketable equity securities and REITs consist of a wide variety of companies. Investments in these companies include growth, growth income, and foreign investment objectives. The individual holdings have been evaluated, and due to management’s plan to hold on to these investments for an extended period, the Company does not consider these investments to be other-than-temporarily impaired at October 31, 2020.

Inventories

Inventories	6 Months Ended
	Oct. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Note 3 Inventories Inventories at October 31, 2020 and April 30, 2020 consisted of the following: October 31, April 30, 2020 2020 Raw materials $ 4,784,000 $ 4,233,000 Work in process 478,000 402,000 Finished goods 617,000 606,000 5,879,000 5,241,000 Less: allowance for obsolete inventory (148,000 ) (138,000 ) Inventories, net $ 5,731,000 $ 5,103,000

Business Segments

Business Segments	6 Months Ended
	Oct. 31, 2020
Segment Reporting [Abstract]
Business Segments	Note 4 Business Segments The following is financial information relating to industry segments: Three months Six months Three months Six months ended ended ended ended Oct 31, 2020 Oct 31, 2020 Oct 31, 2019 Oct 31, 2019 Net revenue: Security alarm products $ 3,632,000 $ 6,962,000 $ 2,985,000 $ 5,852,000 Cable & wiring tools 620,000 1,019,000 571,000 1,071,000 Other products 395,000 713,000 154,000 340,000 Total net revenue $ 4,647,000 $ 8,694,000 $ 3,710,000 $ 7,263,000 Income from operations: Security alarm products $ 1,092,000 $ 2,042,000 $ 762,000 $ 1,495,000 Cable & wiring tools 160,000 299,000 140,000 273,000 Other products 112,000 209,000 44,000 87,000 Total income from operations $ 1,364,000 $ 2,550,000 $ 946,000 $ 1,855,000 Depreciation and amortization: Security alarm products $ 39,000 $ 61,000 $ 71,000 $ 94,000 Cable & wiring tools 31,000 61,000 31,000 62,000 Other products 14,000 27,000 (4,000 ) 16,000 Corporate general 19,000 40,000 (4,000 ) 11,000 Total depreciation and amortization $ 103,000 $ 189,000 $ 94,000 $ 183,000 Capital expenditures: Security alarm products $ 149,000 $ 242,000 $ 10,000 $ 179,000 Cable & wiring tools — — — — Other products 111,000 113,000 — — Corporate general 6,000 6,000 — — Total capital expenditures $ 266,000 $ 361,000 $ 10,000 $ 179,000 October 31, 2020 April 30, 2020 Identifiable assets: Security alarm products $ 7,849,000 $ 7,150,000 Cable & wiring tools 2,586,000 2,684,000 Other products 967,000 724,000 Corporate general 34,756,000 33,204,000 Total assets $ 46,158,000 $ 43,762,000

Earnings Per Share

Earnings Per Share	6 Months Ended
	Oct. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Note 5 Earnings per Share Basic and diluted earnings per share, assuming convertible preferred stock was converted for each period presented, are: For the three months ended October 31, 2020 Income Shares Per-Share (Numerator) (Denominator) Amount Net income $ 860,000 Basic EPS $ 860,000 4,949,902 $ .17 Effect of dilutive Convertible Preferred Stock – 20,500 -- Diluted EPS $ 860,000 4,970,402 $ .17 For the six months ended October 31, 2020 Income Shares Per-Share (Numerator) (Denominator) Amount Net income $ 3,352,000 Basic EPS $ 3,352,000 4,949,914 $ .68 Effect of dilutive Convertible Preferred Stock – 20,500 -- Diluted EPS $ 3,352,000 4,970,414 $ .67 For the three months ended October 31, 2019 Income Shares Per-Share (Numerator) (Denominator) Amount Net income $ 957,000 Basic EPS $ 957,000 4,952,110 $ .19 Effect of dilutive Convertible Preferred Stock – 20,500 -- Diluted EPS $ 957,000 4,972,610 $ .19 For the six months ended October 31, 2019 Income Shares Per-Share (Numerator) (Denominator) Amount Net income $ 1,932,000 Basic EPS $ 1,932,000 4,954,250 $ .39 Effect of dilutive Convertible Preferred Stock – 20,500 -- Diluted EPS $ 1,932,000 4,974,750 $ .39

Retirement Benefit Plan

Retirement Benefit Plan	6 Months Ended
	Oct. 31, 2020
Retirement Benefits [Abstract]
Retirement Benefit Plan	Note 6 Retirement Benefit Plan On January 1, 1998, the Company adopted the George Risk Industries, Inc. Retirement Savings Plan (the “Plan”). The Plan is a defined contribution savings plan designed to provide retirement income to eligible employees of the Company. The Plan is intended to be qualified under Section 401(k) of the Internal Revenue Code of 1986, as amended. It is funded by voluntary pre-tax and Roth (taxable) contributions from eligible employees who may contribute a percentage of their eligible compensation, limited and subject to statutory limits. Employees are eligible to participate in the Plan when they have attained the age of 21 and completed one thousand hours of service in any plan year with the Company. Upon leaving the Company, each participant is 100% vested with respect to the participants’ contributions while the Company’s matching contributions are vested over a six-year period in accordance with the Plan document. Contributions are invested, as directed by the participant, in investment funds available under the Plan. Matching contributions by the Company of approximately $16,000 and $7,000 were paid during each quarter ending October 31, 2020 and 2019, respectively. Likewise, the Company paid matching contributions of approximately $29,000 and $9,000 during each six-month period ending October 31, 2020 and 2019, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Oct. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 7 Fair Value Measurements The carrying value of the Company’s cash and cash equivalents, accounts receivable and accounts payable approximate their fair value due to their short term nature. The fair value of our investments is determined utilizing market based information. Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions, and credit risk. US GAAP establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurements). The levels of the fair value hierarchy under US GAAP are described below: Level 1 Valuation is based upon quoted prices for identical instruments traded in active markets. Level 2 Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. Investments and Marketable Securities As of October 31, 2020, our investments consisted of money markets, publicly traded equity securities, real estate investment trusts (REITs) as well as certain state and municipal debt securities. The marketable securities are valued using third-party broker statements. The value of the majority of securities is derived from quoted market information. The inputs to the valuation are generally classified as Level 1 given the active market for these securities, however, if an active market does not exist, which is the case for municipal bonds and REITs, the inputs are recorded as Level 2. Fair Value Hierarchy The following table sets forth our assets and liabilities measured at fair value on a recurring basis and a non-recurring basis by level within the fair value hierarchy. As required by US GAAP, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Assets Measured at Fair Value on a Recurring Basis as of Level 1 Level 2 Level 3 Total Assets: Municipal Bonds $ — $ 5,430,000 $ — $ 5,430,000 REITs — 71,000 — 71,000 Equity Securities 21,588,000 — — 21,588,000 Money Markets and CDs 577,000 — — 577,000 Total fair value of assets measured on a recurring basis $ 22,165,000 $ 5,501,000 $ — $ 27,666,000 Assets Measured at Fair Value on a Recurring Basis as of Level 1 Level 2 Level 3 Total Assets: Municipal Bonds $ — $ 5,262,000 $ — $ 5,262,000 Corporate Bonds 26,000 — — 26,000 REITs — 68,000 — 68,000 Equity Securities 19,385,000 — — 19,385,000 Money Markets and CDs 581,000 — — 581,000 Total fair value of assets measured on a recurring basis $ 19,992,000 $ 5,330,000 $ — $ 25,322,000

Notes Payable

Notes Payable	6 Months Ended
	Oct. 31, 2020
Notes Payable [Abstract]
Notes Payable	Note 8 Notes Payable On April 15, 2020, the Company received loan proceeds of approximately $950,000 (the “PPP Loan”) from FirsTier Bank, pursuant to the Paycheck Protection Program (the “PPP”) under Division A, Title I of the CARES Act, which was enacted March 27, 2020. The PPP Loan, which was in the form of a Note dated April 15, 2020 issued to the Company, matures on April 15, 2022 and bears interest at a rate of 1% per annum, payable monthly commencing on November 15, 2020. If the Company submits a loan forgiveness application within ten months of the completion of the Covered Period, it will not be required to make any payments until the forgiveness amount is remitted to the lender by Small Business Administration (“SBA”). Interest accrues during the time between the disbursement of the loan and the SBA remittance of the forgiveness amount. The Company is responsible for paying the accrued interest only on the amount of the loan that is not forgiven. The lender is responsible for notifying the Company of remittance of the forgiveness amount by the SBA and, if applicable, the date on which the Company’s first payment of the remaining balance is due. The Note may be prepaid by the Company at any time prior to maturity with no prepayment penalties. Funds from the PPP Loan may only be used for payroll costs, costs used to continue group health care benefits, mortgage payments, rent, utilities, and interest on certain other debt obligations. The Company used the entire PPP Loan amount for qualifying expenses. Under the terms of the PPP, certain amounts of the PPP Loan may be forgiven if they are used for qualifying expenses as described in the CARES Act. On December 3, 2020, the Company received notice from the lender that the entire amount of the PPP loan was forgiven.

Subsequent Events

Subsequent Events	6 Months Ended
	Oct. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 9 Subsequent Events As stated above, the Company received notification on December 3, 2020 from its lender of the Paycheck Protection Program (“PPP”) loan that the full amount of the loan was forgiven.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Oct. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Investments	As of October 31, 2020 and April 30, 2020, investments consisted of the following: Gross Gross Investments at Cost Unrealized Unrealized Fair October 31, 2020 Basis Gains Losses Value Municipal bonds $ 5,308,000 $ 163,000 $ (41,000 ) $ 5,430,000 REITs 112,000 — (41,000 ) 71,000 Equity securities 17,326,000 4,946,000 (684,000 ) 21,588,000 Money markets and CDs 577,000 — — 577,000 Total $ 23,323,000 $ 5,109,000 $ (766,000 ) $ 27,666,000 Gross Gross Investments at Cost Unrealized Unrealized Fair April 30, 2020 Basis Gains Losses Value Municipal bonds $ 5,271,000 $ 80,000 $ (89,000 ) $ 5,262,000 Corporate bonds 26,000 — — 26,000 REITs 112,000 — (44,000 ) 68,000 Equity securities 17,119,000 3,446,000 (1,180,000 ) 19,385,000 Money markets and CDs 581,000 — — 581,000 Total $ 23,109,000 $ 3,526,000 $ (1,313,000 ) $ 25,322,000
Schedule of Unrealized Loss Breakdown by Investment	The following table shows the investments with unrealized losses that are not deemed to be “other-than-temporarily impaired”, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at October 31, 2020 and April 30, 2020, respectively. Unrealized Loss Breakdown by Investment Type at October 31, 2020 Less than 12 months 12 months or greater Total Description Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $ 93,000 $ (1,000 ) $ 333,000 $ (40,000 ) $ 426,000 $ (41,000 ) REITs 28,000 (17,000 ) 43,000 (24,000 ) 71,000 (41,000 ) Equity securities 4,218,000 (569,000 ) 1,747,000 (115,000 ) 5,965,000 (684,000 ) Total $ 4,339,000 $ (587,000 ) $ 2,123,000 $ (179,000 ) $ 6,462,000 $ (766,000 ) Unrealized Loss Breakdown by Investment Type at April 30, 2020 Less than 12 months 12 months or greater Total Description Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $ 2,203,000 $ (42,000 ) $ 484,000 $ (47,000 ) $ 2,687,000 $ (89,000 ) REITs 43,000 (30,000 ) 24,000 (14,000 ) 67,000 (44000 ) Equity securities 5,496,000 (866,000 ) 1,651,000 (314,000 ) 7,147,000 (1,180,000 ) Total $ 7,742,000 $ (938,000 ) $ 2,159,000 $ (375,000 ) $ 9,901,000 $ (1,313,000 )

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Oct. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories at October 31, 2020 and April 30, 2020 consisted of the following: October 31, April 30, 2020 2020 Raw materials $ 4,784,000 $ 4,233,000 Work in process 478,000 402,000 Finished goods 617,000 606,000 5,879,000 5,241,000 Less: allowance for obsolete inventory (148,000 ) (138,000 ) Inventories, net $ 5,731,000 $ 5,103,000

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Oct. 31, 2020
Segment Reporting [Abstract]
Schedule of Financial Information Relating to Industry Segments	The following is financial information relating to industry segments: Three months Six months Three months Six months ended ended ended ended Oct 31, 2020 Oct 31, 2020 Oct 31, 2019 Oct 31, 2019 Net revenue: Security alarm products $ 3,632,000 $ 6,962,000 $ 2,985,000 $ 5,852,000 Cable & wiring tools 620,000 1,019,000 571,000 1,071,000 Other products 395,000 713,000 154,000 340,000 Total net revenue $ 4,647,000 $ 8,694,000 $ 3,710,000 $ 7,263,000 Income from operations: Security alarm products $ 1,092,000 $ 2,042,000 $ 762,000 $ 1,495,000 Cable & wiring tools 160,000 299,000 140,000 273,000 Other products 112,000 209,000 44,000 87,000 Total income from operations $ 1,364,000 $ 2,550,000 $ 946,000 $ 1,855,000 Depreciation and amortization: Security alarm products $ 39,000 $ 61,000 $ 71,000 $ 94,000 Cable & wiring tools 31,000 61,000 31,000 62,000 Other products 14,000 27,000 (4,000 ) 16,000 Corporate general 19,000 40,000 (4,000 ) 11,000 Total depreciation and amortization $ 103,000 $ 189,000 $ 94,000 $ 183,000 Capital expenditures: Security alarm products $ 149,000 $ 242,000 $ 10,000 $ 179,000 Cable & wiring tools — — — — Other products 111,000 113,000 — — Corporate general 6,000 6,000 — — Total capital expenditures $ 266,000 $ 361,000 $ 10,000 $ 179,000 October 31, 2020 April 30, 2020 Identifiable assets: Security alarm products $ 7,849,000 $ 7,150,000 Cable & wiring tools 2,586,000 2,684,000 Other products 967,000 724,000 Corporate general 34,756,000 33,204,000 Total assets $ 46,158,000 $ 43,762,000

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Oct. 31, 2020
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	Basic and diluted earnings per share, assuming convertible preferred stock was converted for each period presented, are: For the three months ended October 31, 2020 Income Shares Per-Share (Numerator) (Denominator) Amount Net income $ 860,000 Basic EPS $ 860,000 4,949,902 $ .17 Effect of dilutive Convertible Preferred Stock – 20,500 -- Diluted EPS $ 860,000 4,970,402 $ .17 For the six months ended October 31, 2020 Income Shares Per-Share (Numerator) (Denominator) Amount Net income $ 3,352,000 Basic EPS $ 3,352,000 4,949,914 $ .68 Effect of dilutive Convertible Preferred Stock – 20,500 -- Diluted EPS $ 3,352,000 4,970,414 $ .67 For the three months ended October 31, 2019 Income Shares Per-Share (Numerator) (Denominator) Amount Net income $ 957,000 Basic EPS $ 957,000 4,952,110 $ .19 Effect of dilutive Convertible Preferred Stock – 20,500 -- Diluted EPS $ 957,000 4,972,610 $ .19 For the six months ended October 31, 2019 Income Shares Per-Share (Numerator) (Denominator) Amount Net income $ 1,932,000 Basic EPS $ 1,932,000 4,954,250 $ .39 Effect of dilutive Convertible Preferred Stock – 20,500 -- Diluted EPS $ 1,932,000 4,974,750 $ .39

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Oct. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on Recurring Basis	The following table sets forth our assets and liabilities measured at fair value on a recurring basis and a non-recurring basis by level within the fair value hierarchy. As required by US GAAP, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Assets Measured at Fair Value on a Recurring Basis as of Level 1 Level 2 Level 3 Total Assets: Municipal Bonds $ — $ 5,430,000 $ — $ 5,430,000 REITs — 71,000 — 71,000 Equity Securities 21,588,000 — — 21,588,000 Money Markets and CDs 577,000 — — 577,000 Total fair value of assets measured on a recurring basis $ 22,165,000 $ 5,501,000 $ — $ 27,666,000 Assets Measured at Fair Value on a Recurring Basis as of Level 1 Level 2 Level 3 Total Assets: Municipal Bonds $ — $ 5,262,000 $ — $ 5,262,000 Corporate Bonds 26,000 — — 26,000 REITs — 68,000 — 68,000 Equity Securities 19,385,000 — — 19,385,000 Money Markets and CDs 581,000 — — 581,000 Total fair value of assets measured on a recurring basis $ 19,992,000 $ 5,330,000 $ — $ 25,322,000

Investments (Details Narrative)

Investments (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Available-for-sale debt securities maturity year description			The investments in debt securities, which include municipal bonds and bond funds, mature between April 2021 and January 2044.
Impairment loss	$ 52,000	$ 7,000	$ 79,000	$ 41,000
Equity securities of gross realized gain	184,000	67,000	286,000	220,000
Equity securities of gross realized losses	110,000	57,000	236,000	161,000
Debt securities of gross realized gains				3,000
Debt securities of gross realized losses	$ 2,000		$ 6,000	$ 3,000

Investments - Schedule of Inves

Investments - Schedule of Investments (Details) - USD ($)	6 Months Ended	12 Months Ended
	Oct. 31, 2020	Apr. 30, 2020
Cost Basis	$ 23,323,000	$ 23,109,000
Gross Unrealized Gains	5,109,000	3,526,000
Gross Unrealized Losses	(766,000)	(1,313,000)
Fair Value	27,666,000	25,322,000
Municipal Bonds [Member]
Cost Basis	5,308,000	5,271,000
Gross Unrealized Gains	163,000	80,000
Gross Unrealized Losses	(41,000)	(89,000)
Fair Value	5,430,000	5,262,000
REITs [Member]
Cost Basis	112,000	112,000
Gross Unrealized Gains
Gross Unrealized Losses	(41,000)	(44,000)
Fair Value	71,000	68,000
Equity Securities [Member]
Cost Basis	17,326,000	17,119,000
Gross Unrealized Gains	4,946,000	3,446,000
Gross Unrealized Losses	(684,000)	(1,180,000)
Fair Value	21,588,000	19,385,000
Money Markets and CDs [Member]
Cost Basis	577,000	581,000
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	$ 577,000	581,000
Corporate Bonds [Member]
Cost Basis		26,000
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value		$ 26,000

Investments - Schedule of Unrea

Investments - Schedule of Unrealized Loss Breakdown by Investment (Details) - USD ($)	Oct. 31, 2020	Apr. 30, 2020
Less than 12 months, Fair Value	$ 4,339,000	$ 7,742,000
Less than 12 months, Unrealized Loss	(587,000)	(938,000)
12 months or greater, Fair Value	2,123,000	2,159,000
12 months or greater, Unrealized Loss	(179,000)	(375,000)
Total, Fair Value	6,462,000	9,901,000
Total, Unrealized Loss	(766,000)	(1,313,000)
Municipal Bonds [Member]
Less than 12 months, Fair Value	93,000	2,203,000
Less than 12 months, Unrealized Loss	(1,000)	(42,000)
12 months or greater, Fair Value	333,000	484,000
12 months or greater, Unrealized Loss	(40,000)	(47,000)
Total, Fair Value	426,000	2,687,000
Total, Unrealized Loss	(41,000)	(89,000)
REITs [Member]
Less than 12 months, Fair Value	28,000	43,000
Less than 12 months, Unrealized Loss	(17,000)	(30,000)
12 months or greater, Fair Value	43,000	24,000
12 months or greater, Unrealized Loss	(24,000)	(14,000)
Total, Fair Value	71,000	67,000
Total, Unrealized Loss	(41,000)	(44,000)
Equity Securities [Member]
Less than 12 months, Fair Value	4,218,000	5,496,000
Less than 12 months, Unrealized Loss	(569,000)	(866,000)
12 months or greater, Fair Value	1,747,000	1,651,000
12 months or greater, Unrealized Loss	(115,000)	(314,000)
Total, Fair Value	5,965,000	7,147,000
Total, Unrealized Loss	$ (684,000)	$ (1,180,000)

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($)	Oct. 31, 2020	Apr. 30, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 4,784,000	$ 4,233,000
Work in process	478,000	402,000
Finished goods	617,000	606,000
Inventory gross	5,879,000	5,241,000
Less: allowance for obsolete inventory	(148,000)	(138,000)
Inventories, net	$ 5,731,000	$ 5,103,000

Business Segments - Schedule of

Business Segments - Schedule of Financial Information Relating to Industry Segments (Details) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Apr. 30, 2020
Total net revenue	$ 4,647,000	$ 3,710,000	$ 8,694,000	$ 7,263,000
Total income from operations	1,364,000	946,000	2,550,000	1,855,000
Total depreciation and amortization	103,000	94,000	189,000	183,000
Total capital expenditures	266,000	10,000	361,000	179,000
Total assets	46,158,000		46,158,000		$ 43,762,000
Security Alarm Products [Member]
Total net revenue	3,632,000	2,985,000	6,962,000	5,852,000
Total income from operations	1,092,000	762,000	2,042,000	1,495,000
Total depreciation and amortization	39,000	71,000	61,000	94,000
Total capital expenditures	149,000	10,000	242,000	179,000
Total assets	7,849,000		7,849,000		7,150,000
Cable & Wiring Tools [Member]
Total net revenue	620,000	571,000	1,019,000	1,071,000
Total income from operations	160,000	140,000	299,000	273,000
Total depreciation and amortization	31,000	31,000	61,000	62,000
Total capital expenditures
Total assets	2,586,000		2,586,000		2,684,000
Other Products [Member]
Total net revenue	395,000	154,000	713,000	340,000
Total income from operations	112,000	44,000	209,000	87,000
Total depreciation and amortization	14,000	(4,000)	27,000	16,000
Total capital expenditures	111,000		113,000
Total assets	967,000		967,000		724,000
Corporate General [Member]
Total depreciation and amortization	19,000	(4,000)	40,000	11,000
Total capital expenditures	6,000		6,000
Total assets	$ 34,756,000		$ 34,756,000		$ 33,204,000

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Earnings Per Share [Abstract]
Net income	$ 860,000	$ 957,000	$ 3,352,000	$ 1,932,000
Basic EPS, Income	$ 860,000	$ 957,000	$ 3,352,000	$ 1,932,000
Basic EPS, Shares	4,949,902	4,952,110	4,949,914	4,954,250
Basic EPS, Per-share	$ 0.17	$ 0.19	$ 0.68	$ 0.39
Effect of dilutive Convertible Preferred Stock, Income
Effect of dilutive Convertible Preferred Stock, Shares	20,500	20,500	20,500	20,500
Effect of dilutive Convertible Preferred Stock, Per-share
Diluted EPS, Income	$ 860,000	$ 957,000	$ 3,352,000	$ 1,932,000
Diluted EPS, Shares	4,970,402	4,972,610	4,970,414	4,974,750
Diluted EPS, Per-share	$ 0.17	$ 0.19	$ 0.67	$ 0.39

Retirement Benefit Plan (Detail

Retirement Benefit Plan (Details Narrative) - USD ($)	Jan. 01, 1998	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Retirement Benefits [Abstract]
Description of employees eligibility	Employees are eligible to participate in the Plan when they have attained the age of 21 and completed one thousand hours of service in any plan year with the Company.
Employer matching contribution vesting period	6 years
Employees vesting percentage	100.00%
Employees matching contributions		$ 16,000	$ 29,000	$ 7,000	$ 9,000

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] - USD ($)	Oct. 31, 2020	Apr. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	$ 27,666,000	$ 25,322,000
Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	5,430,000	5,262,000
REITs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	71,000	68,000
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	21,588,000	19,385,000
Money Markets and CDs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	577,000	581,000
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis		26,000
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	22,165,000	19,992,000
Level 1 [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Level 1 [Member] | REITs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Level 1 [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	21,588,000	19,385,000
Level 1 [Member] | Money Markets and CDs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	577,000	581,000
Level 1 [Member] | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis		26,000
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	5,501,000	5,330,000
Level 2 [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	5,430,000	5,262,000
Level 2 [Member] | REITs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	71,000	68,000
Level 2 [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Level 2 [Member] | Money Markets and CDs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Level 2 [Member] | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Level 3 [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Level 3 [Member] | REITs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Level 3 [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Level 3 [Member] | Money Markets and CDs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Level 3 [Member] | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - Paycheck Protection Program [Member] - FirsTier Bank [Member]	Apr. 15, 2020USD ($)
Proceeds from loan	$ 950,000
Debt instrument matures date	Apr. 15, 2022
Debt instrument interest rate	1.00%
Debt instrument description	The Company received loan proceeds of approximately $950,000 (the "PPP Loan") from FirsTier Bank, pursuant to the Paycheck Protection Program (the "PPP") under Division A, Title I of the CARES Act, which was enacted March 27, 2020. The PPP Loan, which was in the form of a Note dated April 15, 2020 issued to the Company, matures on April 15, 2022 and bears interest at a rate of 1% per annum, payable monthly commencing on November 15, 2020.
Prepayment penalties