Note 9 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2022			2021
Noncurrent deferred income tax asset arising from:
Accounts payable	$	461,253		$	272,585
Property, plant, and equipment		39,598			11,090
Equity-based compensation		112,336			65,127
Contribution carryforward		5,856			4,860
NOL carryforward		3,994,815			3,452,349
NEL carryforward		239,315			324,685
R&D credit		626,347			365,668
Operating lease liability		48,594			-
Capitalized research and development expense		1,639,623			-
Total deferred tax assets		7,167,737			4,496,364
Noncurrent deferred income tax liability arising from:
Trade receivables and prepaid expenses		(374,517	)		(655,804	)
Operating lease ROU asset		(48,171	)		-
Total deferred income tax liabilities		(422,688	)		(655,804	)
Net noncurrent deferred income tax asset		6,745,049			3,840,560
Valuation allowance		(6,745,049	)		(3,840,560	)
Net	$	-		$	-

Summary of Operating Loss Carryforwards [Table Text Block]

	December 31,
Combined NOL Carryforwards:	2022		2021
Federal	$	19,022,927	$	16,439,757
State	$	9,836,072	$	16,439,757

Summary of Tax Credit Carryforwards [Table Text Block]

	December 31,
Combined Credit Carryforwards:	2022		2021
Federal	$	626,347	$	365,668

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	December 31,
Rate reconciliation:	2022			2021
Federal tax benefit at the statutory rate		(21.0	)%		(21.0	)%
State tax, net of federal benefit		(2.0	)%		(2.0	)%
Nondeductible expenses		0.8	%		1.0	%
Other		0.7	%		—	%
Life insurance		—	%		5.0	%
Provision to return true up		(0.6	)%		1.0	%
Research & development credits		(2.2	)%		(4.0	)%
Change in the valuation allowance		24.2	%		30.0	%
PPP loan forgiveness		—	%		(10.0	)%
Income Tax Expense (Benefit)		—	%		—	%