Note 9 - Retirement Plan

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Retirement Benefits [Text Block]

NOTE 9 – RETIREMENT PLAN

The Company has a defined-contribution retirement plan (the “Retirement Plan”) that allows for a matching safe harbor contribution. For 2023, the Board of Directors elected to match participant deferred salary contributions up to a maximum of 4% of the participant’s annual compensation. Discretionary profit sharing contributions are allowed under the Retirement Plan in years that the Board does not elect a safe harbor match. During 2023, the Company contributed $43,000 to the Retirement Plan for the safe harbor match for the year ended December 31, 2023. The Company has accrued approximately $17,000 for additional safe harbor matching contribution for the year ended December 31, 2023. Also during 2023, the Company contributed $47,000 to the Retirement Plan for the safe harbor match for the year ended December 31, 2022.