1. BASIS OF PRESENTATION (Tables)

9 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Earnings per share

	Three months ended September 30,						Nine months ended September 30,
	2020			2019			2020			2019
Numerator
Net income	$	896,799		$	852,200		$	2,304,302		$	1,638,587
Accrued preferred stock dividends		(256,452	)		(256,452	)		(769,356	)		(769,357	)
Net income applicable to common shares	$	640,347		$	595,748		$	1,534,946		$	869,230
Denominator
Weighted-average common shares outstanding		4,964,529			4,964,529			4,964,529			4,964,529
Earnings per common share after preferred dividends	$	0.13		$	0.12		$	0.31		$	0.18