Note 12 - Defined Contribution Retirement Plan

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Defined Contribution Plan [Text Block]

12.

Defined Contribution Retirement Plan

The Company maintains a defined contribution

401

(k) retirement plan for its employees, pursuant to which employees who have completed

sixty

days of service

may

elect to contribute a portion of their compensation on a tax-deferred basis up to the maximum amount permitted by the Internal Revenue Code. The Company provides a

4%

matching contribution to eligible employee contributions. Matching contributions are paid subsequent to the year to which they relate. The Company’s matching contributions due for the years ended

December 31, 2019

and

2018

were

$400,378

and

$365,988,

respectively, and such amounts were included in Accrued Expenses on the Balance Sheets as of

December 

31,

 

2019

and

2018,

respectively.