Note 13 - Subsequent Event

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Subsequent Events [Text Block]

NOTE

13:

     SUBSEQUENT EVENT

On

April 21, 2020,

the Company entered into a loan agreement (the “Loan Agreement”) with HSBC Bank USA, National Association pursuant to which the Company was granted a loan (the “Loan”) in the principal amount of

$2,415,970,

pursuant to the Paycheck Protection Program (the “PPP”) under Division A, Title I of the CARES Act, which was enacted by the United States Congress on

March 27, 2020.

The Loan, the obligation of which is represented by a Note issued by the Company, matures on

April 21, 2022

and bears interest at a rate of

1%

per annum, payable monthly commencing in

October 2020.

The Note

may

be prepaid by the Company at any time prior to maturity with

no

prepayment penalties. Under the terms of the PPP, all or a portion of the Loan

may

be forgiven, based upon payments made in the

first

eight

weeks following receipt of the proceeds, related to payroll costs, continue group health care benefits, utilities and mortgage interest on other debt obligations incurred before

February 15, 2020.