Related Parties	12 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]
Related Parties	7. RELATED PARTIES Clifford Neuman, a member of the Company’s Board of Directors, provided legal services to the Company. As of December 31, 2020, and 2019, the Company owed Mr. Neuman for legal services rendered $9,900 and $32,156, respectively. As of September 2020, the Company no longer uses office space provided by Mr. Neuman. On September 29, 2020, Zvi Rhine, the Company’s President and Chief Financial Officer and a member of the Board of Directors, resigned from all positions with the Company. The resignations were prompted by regulatory issues not involving the Company or its subsidiaries. Effective October 1, 2020, the Company entered into a consulting agreement with Mr. Rhine with a termination date of December 31, 2020. In mid-December 2020, the Company advised Mr. Rhine that it would not be renewing his consulting agreement beyond the termination date. The Company has discovered several matters involving a financial benefit undertaken by Mr. Rhine that had previously been unknown by the other members of the Board and were unauthorized by the Company. The Company is doing a thorough investigation into Mr. Rhine’s actions both as a former employee and subsequently as a consultant to determine the full and exact nature and extent of any unauthorized conduct. Creative Cyberweb developed and maintained the Company’s website and is affiliated with Mr. Rhine’s family. The ongoing upkeep paid by the Company was $450 per month. Effective December 17, 2020, the Company terminated its relationship with Creative Cyberweb and Rhine and Associates. The Company’s website is being newly developed with an outside hosting and maintenance company at a nominal cost, the 1099s are being prepared internally. In January 2018, the Directors modified the Directors’ Compensation Plan to provide the annual grants be subject to ratable vesting over 12 months. In March 2019, the Board approved an annual grant to three of its Directors without other compensation plans, restricted stock awards of 90,909 shares each, subject to vesting. In July 2019, the Board approved a pro-rated annual grant to two of its Directors without other compensation plans restricted stock awards of 90,909 shares in aggregate, subject to vesting. In connection with these director restricted stock grants, the Company recognized stock-based compensation of $120,000 for the year ended December 31, 2019. No stock-based compensation expense was recognized in connection with director restricted stock grants for the year ended December 31, 2020. However, the Company recognized a reversal of stock-based compensation of $8,750 during the year ended December 31, 2020 due to forfeitures of restricted stock awards granted in the prior year. In the first quarter of 2020, the Board revised the Director Compensation Plan to provide that non-employee directors are entitled to a directors’ fee equal to $7,500 per quarter, payable in cash.

Related Parties

12 Months Ended

Dec. 31, 2020

7. RELATED PARTIES

Clifford Neuman, a member of the Company’s Board of Directors, provided legal services to the Company. As of December 31, 2020, and 2019, the Company owed Mr. Neuman for legal services rendered $9,900 and $32,156, respectively. As of September 2020, the Company no longer uses office space provided by Mr. Neuman.

On September 29, 2020, Zvi Rhine, the Company’s President and Chief Financial Officer and a member of the Board of Directors, resigned from all positions with the Company. The resignations were prompted by regulatory issues not involving the Company or its subsidiaries. Effective October 1, 2020, the Company entered into a consulting agreement with Mr. Rhine with a termination date of December 31, 2020. In mid-December 2020, the Company advised Mr. Rhine that it would not be renewing his consulting agreement beyond the termination date. The Company has discovered several matters involving a financial benefit undertaken by Mr. Rhine that had previously been unknown by the other members of the Board and were unauthorized by the Company. The Company is doing a thorough investigation into Mr. Rhine’s actions both as a former employee and subsequently as a consultant to determine the full and exact nature and extent of any unauthorized conduct.

Creative Cyberweb developed and maintained the Company’s website and is affiliated with Mr. Rhine’s family. The ongoing upkeep paid by the Company was $450 per month. Effective December 17, 2020, the Company terminated its relationship with Creative Cyberweb and Rhine and Associates. The Company’s website is being newly developed with an outside hosting and maintenance company at a nominal cost, the 1099s are being prepared internally.

In January 2018, the Directors modified the Directors’ Compensation Plan to provide the annual grants be subject to ratable vesting over 12 months. In March 2019, the Board approved an annual grant to three of its Directors without other compensation plans, restricted stock awards of 90,909 shares each, subject to vesting. In July 2019, the Board approved a pro-rated annual grant to two of its Directors without other compensation plans restricted stock awards of 90,909 shares in aggregate, subject to vesting. In connection with these director restricted stock grants, the Company recognized stock-based compensation of $120,000 for the year ended December 31, 2019. No stock-based compensation expense was recognized in connection with director restricted stock grants for the year ended December 31, 2020. However, the Company recognized a reversal of stock-based compensation of $8,750 during the year ended December 31, 2020 due to forfeitures of restricted stock awards granted in the prior year.

In the first quarter of 2020, the Board revised the Director Compensation Plan to provide that non-employee directors are entitled to a directors’ fee equal to $7,500 per quarter, payable in cash.