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Retirement Plan
12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
RETIREMENT PLAN

NOTE 17 – RETIREMENT PLAN

 

The Company sponsors a defined contribution 401(k) profit sharing plan which was adopted in December 2015, effective in January 2016. Under the terms of the plan, the Company matches 100% of the first 3% of payroll contributed by the employee and 50% of the next 2% of payroll contributed by the employee to a maximum of 4% of an employee's payroll. There was expense of $126,557 and $172,107 recorded in 2019 and 2018, respectively, for company contributions to the plan.