Annual report pursuant to Section 13 and 15(d)

Note 15 - Employee Benefit Plan

v3.20.1
Note 15 - Employee Benefit Plan
 12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Compensation and Employee Benefit Plans [Text Block]
15.
Employee Benefit Plan
 
We maintain an employee
401
(k) retirement savings plan (
401
(k) Plan). The
401
(k) Plan provides eligible employees with an opportunity to make tax-deferred contributions into a long-term investment and savings program. All employees over the age of
21
may
elect to participate in the
401
(k) Plan beginning on their hire date. The
401
(k) Plan allows eligible employees to contribute a portion of their annual compensation, subject only to maximum limits required by law. We contribute an amount up to
4%
of each employees’ compensation under the safe harbor provisions provided by the Internal Revenue Service rules governing
401
(k) plans. Employee and employer safe harbor contributions vest immediately.
 
We have recorded contribution expenses of
$62,000
and
$45,000
for the years ended
December 
31,
2019
and
2018,
respectively.