Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Earnings Per Share, Policy [Policy Text Block]

Net Income Per Common Share

Net income was $690,890 and $311,498 for the six months ended June 30, 2022 and 2021, respectively. Net income was $722,042 and $577,164 for the three months ended June 30, 2022 and 2021, respectively. Basic net income per share applicable to common stockholders is computed based on the weighted average number of shares of the Company’s common stock outstanding during the periods presented. Diluted net loss per share reflects the potential dilution that could occur if securities or other instruments to issue common stock were exercised or converted into common stock. Potentially dilutive securities, consisting of options and warrants, are excluded from the calculation of the diluted income per share when their exercise prices were greater than the average market price of the common stock during the period. 

The following table sets forth the components used in the computation of basic net income per share:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
Weighted average common shares outstanding, basic		976,330		1,028,863		975.761		1,028,863
Common shares upon exercise of options and warrants		17,140		2,038		11,834		4,268
Weighted average common shares outstanding, diluted		993,470		1,030,901		987,595		1,033,131

Share-Based Payment Arrangement [Policy Text Block]

Stock-Based Compensation

Stock-based compensation expense for all stock-based payment awards are based on the estimated grant-date fair value. The Company recognizes these compensation costs over the requisite service period of the award, which is generally the option vesting term. For the six months ended June 30, 2022 and 2021, the Company incurred stock-based compensation of $22,998 and $17,196, respectively. Such amounts have been recorded as part of the Company’s selling, general and administrative expenses in the accompanying consolidated statements of operations. As of June 30, 2022, the unamortized fair value of the options totaled $22,997 and the weighted average remaining amortization period of the options approximated five years.

Option valuation models require the input of highly subjective assumptions, including the expected life of the option. Because the Company's employee stock options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management's opinion, the existing models do not necessarily provide a reliable single measure of the fair value of its employee stock options.