Subsequent Events

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent Events

NOTE 16 – Subsequent Events

On February 16, 2022, Jacob Brunsberg was appointed as President and Chief Operating Officer. In connection with this appointment, Mr. Brunsberg’s employment agreement was amended to increase his salary to $250,000 from $200,000 per annum. In addition, Mr. Brunsberg was granted a stock option to purchase up to 70,000 shares of our common stock under our 2013 Equity Incentive Plan at an exercise price of $2.50, and 30,000 stock appreciation rights (“SARs”) under our 2020 Stock Appreciation Rights Plan at an exercise price of $2.50 each. Both the option and the SARs have a five-year term and are on such other terms and conditions as contained in the Company’s forms of standard agreement. Concurrently, Mark K. Ruport resigned as President but remains as Chief Executive Officer and continues to serve as a director on the Board of Directors. Mr. Ruport’s employment agreement was amended to decrease his salary from $250,000 to $200,000 per annum.