Note 7 - Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

Schedule of Long-term Debt Instruments [Table Text Block]

Long-term debt as of December 31 consists of the following:
	2021			2020
HSBC $10,387,500 Mortgage payable secured by real property Buildings and improvements at 555 N Research Drive, Central Islip, NY payable in monthly principal installments of $62,481 including Interest at a rate of 3.9148%. On July 26, 2021 the loan was satisfied.	$	-		$	9,315,246
PPP Loan $2,415,970, maturing on April 21, 2022, with interest accruing at 1% per annum. On June 10, 2021 the loan was forgiven.		-			2,415,970
HSBC $6,000,000 Mortgage payable secured by building Buildings and improvements at 355 South Technology Drive, Central Islip, NY payable in monthly principal installments of $25,000 plus interest. Interest presently accrues at our option, at the variable rate of LIBOR plus 1.75% or HSBC’s Prime rate minus 0.50% The loan was satisfied on March 1, 2022.		1,765,508			2,065,508
Total long-term debt	$	1,765,508		$	13,796,724
Less: Current maturities		(1,765,508	)		(690,667	)
Long-term debt	$	-		$	13,106,057

Schedule of Maturities of Long-term Debt [Table Text Block]

2022	$	1,765,508
Total long-term debt	$	1,765,508