Note 9 - Defined Contribution Plan

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

9. Defined Contribution Plan

The Company sponsors a

401

(k) defined contribution plan (“DC Plan”) that provides for a dollar-for-dollar employer matching contribution of the

first

4%

of each employee’s pay that is deferred by the employee. Employees become fully vested in employer matching contributions after

one

year of employment. In addition, the Company has been accruing

$175,000

per year toward the payment of a discretionary

401

(k) contribution that is apportioned among all employees using a “pay-to-pay” safe harbor formula in accordance with IRS regulations. The Company accrued

$43,750

in contributions to the DC Plan for each of the

three

-month periods ended

March 31, 2018

and

March 31, 2017.

For the

first

quarters of

2018

and

2017

the Company did

not

make any discretionary contributions to the DC Plan.