Note 8 - Chief Executive Officer Transition

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Officer Transition [Text Block]

8. CHIEF EXECUTIVE OFFICER TRANSITION

On

January 7, 2020,

Mr. Ulland formally announced his retirement as President and Chief Executive Officer of the Company, effective

February 10, 2020.

Mr. Ulland will continue to serve as Chairman of the Board.  On

January 7, 2020,

the Company also announced that Glenn Sandgren has been appointed to the position of Chief Executive Officer effective

February 10, 2020.

Mr. Sandgren has also been appointed to the Board of Directors of the Company, also effective

February 10, 2020. 

The Company incurred

one

-time costs of approximately

$365,000

in

2020

related to the Chief Executive officer transition including severance payments, signing bonus, relocation expenses and executive search consulting expenses.